Consolidated balance sheet at December 31

Consolidated balance sheet
in € million	Notes	2025	2024
Assets
Goodwill and intangible assets	8	15,384	18,078
Property, plant and equipment	9	4,174	5,725
Deferred tax assets	7	227	299
Prepaid pension costs	24	51	62
Share in associates and joint ventures	10	199	342
Derivatives	23	60	51
Other non-current assets	11	357	391
Non-current assets		20,452	24,948

Inventories	12	2,121	3,290
Trade receivables	13	1,841	2,589
Income tax receivables	13	153	51
Other current receivables	13	105	129
Derivatives	23	41	23
Financial investments	14	121	50
Cash and cash equivalents	15	1,782	2,667
Assets held for sale	3	2,729	–
Current assets		8,893	8,799
Total assets		29,345	33,747

Equity and liabilities
Shareholders’ equity		18,244	22,511
Non-controlling interests	17	179	186
Equity	16	18,423	22,697

Deferred tax liabilities	7	1,351	1,556
Employee benefit liabilities	24	193	487
Provisions	18	52	87
Borrowings	19	3,617	4,444
Derivatives	23	14	7
Other non-current liabilities	20	102	109
Non-current liabilities		5,329	6,690

Employee benefit liabilities	24	12	62
Provisions	18	51	77
Borrowings	19	1,660	836
Derivatives	23	14	60
Trade payables	21	1,481	2,276
Income tax payables	21	303	223
Other current liabilities	21	666	826
Liabilities held for sale	3	1,406	–
Current liabilities		5,593	4,360
Total equity and liabilities		29,345	33,747

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