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RELATED PARTIES (Tables)
 12 Months Ended
Dec. 31, 2025
Related Parties  
Schedule of key management remuneration
     
  2025 2024 2023
       
Short-term benefits (i) 52.4  56.7  52.2 
Share-based payments (ii) 133.1  99.7  80.7 
Social security (iii) 28.6  18.1  14.4 
Total key Management remuneration  214.1  174.5  147.3 

 

(i)Mainly comprise fixed and variable compensation (including performance bonuses) paid to management.

 

(ii)Reflects expenses related to share options, deferred shares, restricted stocks and performance shares granted to Management.

 

(iii)Represents to the social security charges ("INSS”) levied on the management’s remuneration.
Schedule of transactions with related parties
             
  2025
  Sales and other Service fees / reimbursement of expenses and other receivables Royalties income   Product purchases and other Royalties expenses Net finance cost
AB InBev 0.3  222.4  0.2    (6.6) (282.1) 49.2 
AB Package -    -    -      (292.4) -    -   
AB Procurement  -    0.1  -      (3.0) (52.7) (15.9)
AB USA 0.8  0.6  62.5    (439.9) (541.1) -   
Bavaria 197.8  -    -      (28.2) -    -   
Bees Global -    2.2  -      -    -    -   
Cervecería Modelo 24.6  -    -      (604.1) (372.4) -   
InBev 1.0  -    -      (38.5) -    -   
Other 57.1  11.1  -      (60.2) (69.3) 2.5 
  281.6  236.4  62.7    (1,472.9) (1,317.6) 35.8 

 

  2024
  Sales and other Service fees / reimbursement of expenses and other receivables Royalties income   Product purchases and other Royalties expenses Net finance cost
AB InBev -    188.1  0.2    (5.7) (242.5) 70.4 
AB Package -    -    -      (284.6) -    -   
AB Procurement  -    -    -      (1.2) -    -   
AB USA -    -    46.1    (475.5) (546.4) -   
Bavaria 317.9  -    -      (50.9) -    -   
Cervecería Modelo 0.4  -    -      (894.5) (280.2) (13.5)
InBev -    -    -      (49.4) -    -   
Other 18.5  63.0  -      (74.7) (34.3) -   
  336.8  251.1  46.3    (1,836.5) (1,103.4) 56.9 

 

  2023
  Sales and other Service fees / reimbursement of expenses and other receivables Royalties income   Product purchases and other Royalties expenses Net finance cost
AB InBev -    97.2  0.1    (0.5) (143.3) 64.0 
AB Package -    -    -      (235.5) -    -   
AB Procurement  -    -    -      -    -    (0.5)
AB Services 0.3  8.1  -      -    -    -   
AB USA -    -    35.3    (464.5) (454.5) (0.2)
Bavaria 72.3  -    -      (56.7) -    -   
Cervecería Modelo 0.9  -    -      (959.2) (275.7) -   
InBev -    -    -      (41.9) -    -   
ITW International -    -    -      -    -    120.0 
Other 1.4  10.8  -      (28.7) (15.1) 1.0 
  74.9  116.1  35.4    (1,787.0) (888.6) 184.3 
Schedule of open balances with related parties
             
      2025       2024
  Current   Current
   Trade receivables (i)   Other trade receivables (i)   Dividends receivables     Trade receivables (i)   Other trade receivables (i)   Dividends receivables 
AB Africa 11.5  -    -      3.4  -    -   
AB InBev 103.5  120.2  -      121.6  12.9  -   
AB Procurement  16.4  -    -      1.4  -    -   
AB Services 10.9  -    -      6.7  -    -   
AB USA -    -    -      24.9  -    -   
Bavaria 0.8  -    -      0.4  -    -   
Cervecería Modelo 10.0  -    -      21.5  -    -   
Cervecerías Peruanas 0.6  -    -      0.2  -    -   
InBev 3.0  23.9  -      2.6  24.8  -   
Panama Holding 7.6  -    1.2    9.1  -    1.3 
Other 64.7  -    -      46.1  -    -   
  229.0  144.1  1.2    237.9  37.7  1.3 

 

  2025   2024
  Non-current   Current   Non-current   Current
  Trade payables (i)   Trade payables (i)  Other trade payables  (i)   Dividends payable   Trade payables (i)   Trade payables (i)  Dividends payable
AB InBev -      (169.9) (5.0) -      -      (84.9) -   
AB Package -      (83.7) -    -      -      (131.0) -   
AB Procurement  -      (17.0) -    -      -      (0.1) -   
AB Services -      (3.9) -    -      -      (5.8) -   
AB USA -      (287.0) -    -      -      (254.1) -   
Ambrew -      -    -    (294.5)   -      -    (544.4)
Bavaria -      (22.0) -    -      -      (8.8) -   
Cervecería Modelo -      (513.6) -    -      -      (633.6) -   
Cervecerías Peruanas -      -    -    -      -      (6.1) -   
InBev -      (13.5) -    -      -      (9.8) -   
ITW International (245.3)   -    -    (1,930.2)   (258.3)   -    (3,569.1)
Other -      (36.9) -    -      -      (46.4) -   
  (245.3)   (1,147.5) (5.0) (2,224.7)   (258.3)   (1,180.6) (4,113.5)

 

(i)The amount represents trading operations (purchase and sale) and reimbursements between the companies of the group