Annual Report 2025

Notes

25. Non-current and current financial liabilities

Non-current and current financial liabilities

 

 

CARRYING AMOUNT

 

CARRYING AMOUNT

€ million

 

Current

 

Non-current

 

Dec. 31, 2025

 

Current

 

Non-current

 

Dec. 31, 2024

 

 

 

 

 

 

 

 

 

 

 

 

 

Bonds

 

29,020

 

79,365

 

108,385

 

25,994

 

80,963

 

106,958

Commercial paper and notes

 

17,759

 

23,097

 

40,856

 

21,539

 

25,982

 

47,521

Liabilities to banks

 

14,607

 

22,409

 

37,016

 

13,446

 

18,834

 

32,280

Deposits business

 

63,609

 

4,738

 

68,347

 

53,632

 

3,927

 

57,559

Loans and miscellaneous liabilities

 

1,174

 

1,269

 

2,443

 

1,156

 

1,430

 

2,587

Lease liabilities

 

1,320

 

6,337

 

7,657

 

1,252

 

5,924

 

7,176

 

 

127,489

 

137,214

 

264,703

 

117,020

 

137,061

 

254,081