Consolidated balance sheet

Assets

€ million	Jun 30, 2025	Dec 31, 2024	Jun 30, 2024
NON-CURRENT ASSETS
Property, plant and equipment	60,413	56,027	56,092
Intangible assets	1,418	1,396	2,860
Investments accounted for using the equity method	403	402	412
Other investments and securities	38	38	34
Receivables and other assets	2,085	2,587	2,497
Derivative financial instruments	750	798	675
Deferred tax assets	49	52	582
	65,156	61,300	63,152
CURRENT ASSETS
Inventories	2,383	2,185	2,222
Other investments and securities	557	514	505
Trade receivables	3,391	3,198	6,106
Other receivables and other assets	2,090	1,696	2,397
Income tax receivables	35	32	82
Derivative financial instruments	118	179	83
Cash and cash equivalents	9,397	4,170	4,573
Held-for-sale assets	39	10,624	–
	18,010	22,598	15,968
Total assets	83,166	83,898	79,120

Equity and liabilities

€ million	Jun 30, 2025	Dec 31, 2024	Jun 30, 2024
EQUITY
Subscribed capital	2,150	2,150	2,150
Reserves	16,424	11,797	9,356
Generated profits	7,897	1,167	744
Equity attributable to shareholder of Deutsche Bahn AG	26,471	15,114	12,250
Hybrid capital	1,006	2,002	2,005
Non-controlling interests	44	87	85
	27,521	17,203	14,340
NON-CURRENT LIABILITIES
Financial debt	28,479	33,330	34,784
Other liabilities	785	985	1,053
Derivative financial instruments	331	376	263
Pension obligations	3,043	3,318	3,240
Other provisions	2,638	2,705	2,790
Deferred items	917	908	943
Deferred tax liabilities	2	7	78
	36,195	41,629	43,151
CURRENT LIABILITIES
Financial debt	4,464	4,793	4,218
Trade liabilities	3,311	3,457	5,870
Other liabilities	4,098	3,283	4,454
Income tax liabilities	28	33	155
Derivative financial instruments	157	156	109
Other provisions	6,446	6,314	5,903
Deferred items	924	831	920
Liabilities in connection with assets held for sale	22	6,199	–
	19,450	25,066	21,629
Total assets	83,166	83,898	79,120

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