Balance sheet

In 2023, there were no material changes to the International Fi­­­nancial Reporting Standards (IFRS) regulations for DB Group’s consolidation and accounting principles that would result in any changes to the consolidated financial statements.

In 2023, as a result of the planned sale of DB Arriva, the corresponding current and non-current assets and liabili­ties were classified as discontinued operations and shown separately as current held-for-sale assets or as liabilities which are due to mature in the short term relating to held-for-sale assets. The comparability of individual balance sheet items is limited in this regard.

Total assets were slightly higher:

• Non-current assets increased significantly, driven primarily by higher property, plant and equipment (€ +1,769 million). Continuously high net capital expenditures had an effect here. In addition, deferred tax assets (€ +142 million) and long-term derivative financial instruments increased (€ +120 million), mainly as a result of the expansion of hedging transactions for foreign currencies. This was partly offset by the decline in other subsidiaries and securities (€ –72 million) due to valuations and the reclassification of DB Arriva.
• In contrast, current assets fell overall, despite the reclassification of DB Arriva. The main factors were:
  • the decline in cash and cash equivalents, mainly due to capital expenditures (€ –2,507 million),
  • lower trade receivables (€ –887 million), due in part to freight rate development at DB Schenker, and
  • lower other receivables and assets (€ –471 million) for, among other things, debt acknowledgements in connection with vehicle procurement.
  • Higher held-for-sale assets (€ +3,154 million) as a result of the reclassification of DB Arriva had a largely compensating effect.

The structure of the assets side remained almost unchanged, with a very slight shift in favor of non-current assets.

On the equity and liabilities side, equity fell, mainly due to:

• the decline in net loss for the year (€ –2,399 million),
• the payment of dividends to the Federal Government (€ –650 million),
• the decline in the changes recorded in the reserves in connection with the revaluation of pensions (€ –450 million), and
• lower changes recorded in the reserves in connection with the market valuation of cash flow hedges (€ –99 million).
• This was partly offset by the equity increase by the Federal Government as part of the Climate Action Program (€ +1,125 million).

The decline in equity led to a lower equity ratio, with a slight increase in total assets.

• Non-current liabilities increased significantly. For the most part, this development was shaped by:
  • higher non-current financial debt (€ +2,785 million), and
  • an increase in pension obligations (€ +522 million), in particular as a result of a lower interest rate in the revaluation.
  • The reclassification of DB Arriva had a partially compensating effect.
• Current liabilities increased slightly. In essence, this development was characterized by:
  • higher liabilities held for sale (€ +1,996 million) as a result of the reclassification of DB Arriva, and
  • increased other provisions (€ +846 million), mainly due to additions for revenue discounts at DB Regional.
  • Lower trade liabilities (€ –1,716 million) at DB Schenker, among others, and
  • lower other liabilities becoming due in the short term (€ –465 million) among others in connection with the accounting for acknowledgement of debt partly offset this.

The structure of the equity and liabilities side has shown a shift toward, in particular, an increased share of non-current liabilities, due to the decrease in equity.