Balance Sheet
of the Volkswagen Group as of December 31, 2025
€ million |
|
Note |
|
Dec. 31, 2025 |
|
Dec. 31, 2024 |
|---|---|---|---|---|---|---|
|
|
|
|
|
|
|
Assets |
|
|
|
|
|
|
Non-current assets |
|
|
|
|
|
|
Intangible assets |
|
|
91,474 |
|
93,333 |
|
Property, plant and equipment |
|
|
73,076 |
|
71,452 |
|
Lease assets |
|
|
82,486 |
|
73,193 |
|
Investment property |
|
|
609 |
|
622 |
|
Equity-accounted investments |
|
|
9,996 |
|
10,269 |
|
Other equity investments |
|
|
7,366 |
|
5,731 |
|
Financial services receivables |
|
|
101,230 |
|
101,087 |
|
Other financial assets |
|
|
11,692 |
|
12,129 |
|
Other receivables |
|
|
3,651 |
|
2,868 |
|
Tax receivables |
|
|
411 |
|
409 |
|
Deferred tax assets |
|
|
14,611 |
|
16,581 |
|
|
|
|
|
396,602 |
|
387,674 |
Current assets |
|
|
|
|
|
|
Inventories |
|
|
56,042 |
|
56,720 |
|
Trade receivables |
|
|
20,760 |
|
21,130 |
|
Financial services receivables |
|
|
70,026 |
|
68,855 |
|
Other financial assets |
|
|
20,158 |
|
18,649 |
|
Other receivables |
|
|
9,881 |
|
10,217 |
|
Tax receivables |
|
|
2,674 |
|
2,038 |
|
Marketable securities and time deposits |
|
|
29,522 |
|
27,326 |
|
Cash and cash equivalents |
|
|
38,801 |
|
40,296 |
|
|
|
|
|
247,865 |
|
245,231 |
Total assets |
|
|
|
644,467 |
|
632,905 |
|
|
|
|
|
|
|
Equity and liabilities |
|
|
|
|
|
|
Equity |
|
|
|
|
|
|
Subscribed capital |
|
|
|
1,283 |
|
1,283 |
Capital reserve |
|
|
|
14,551 |
|
14,551 |
Retained earnings |
|
|
|
161,357 |
|
155,130 |
Other reserves |
|
|
|
−3,190 |
|
−2,560 |
Equity attributable to Volkswagen AG hybrid capital investors |
|
|
|
14,275 |
|
13,890 |
Equity attributable to Volkswagen AG shareholders and hybrid capital investors |
|
|
|
188,277 |
|
182,294 |
Non-controlling interests |
|
|
|
14,777 |
|
14,437 |
|
|
|
|
203,054 |
|
196,731 |
Non-current liabilities |
|
|
|
|
|
|
Financial liabilities |
|
|
137,214 |
|
137,061 |
|
Other financial liabilities |
|
|
6,422 |
|
6,548 |
|
Other liabilities |
|
|
11,420 |
|
10,584 |
|
Deferred tax liabilities |
|
|
9,963 |
|
10,900 |
|
Provisions for pensions |
|
|
22,826 |
|
27,602 |
|
Provisions for taxes |
|
|
3,367 |
|
4,084 |
|
Other provisions |
|
|
23,676 |
|
22,355 |
|
|
|
|
|
214,887 |
|
219,134 |
Current liabilities |
|
|
|
|
|
|
Financial liabilities |
|
|
127,489 |
|
117,020 |
|
Trade payables |
|
|
30,490 |
|
29,772 |
|
Tax payables |
|
|
497 |
|
724 |
|
Other financial liabilities |
|
|
13,643 |
|
14,364 |
|
Other liabilities |
|
|
24,427 |
|
24,752 |
|
Provisions for taxes |
|
|
1,986 |
|
1,698 |
|
Other provisions |
|
|
27,993 |
|
28,709 |
|
|
|
|
|
226,525 |
|
217,039 |
Total equity and liabilities |
|
|
|
644,467 |
|
632,905 |