Annual Report 2025

Notes

23. Cash and cash equivalents

Cash and cash equivalents

€ million

 

Dec. 31, 2025

 

Dec. 31, 2024

 

 

 

 

 

Bank balances

 

38,481

 

39,816

Checks, cash-in-hand, bills and call deposits

 

320

 

480

 

 

38,801

 

40,296

Bank balances are held at various banks in different currencies and also include time deposits with maturities of less than three months.