Capital employed
| Capital employed as of Dec 31 / € million | 2025 | 2024 | Change | |
|---|---|---|---|---|
| absolute | % | |||
| Capital employed | 52,837 | 52,166 | +671 | +1.3 |
| thereof property, plant and equipment | 64,744 | 56,027 | +8,717 | +15.6 |
The capital employed constitutes the assets deemed necessary for business and subject to the cost of capital, as derived from the balance sheet. Capital employed was roughly on a par with the end of the previous year.
- Property, plant and equipment increased significantly, driven by capital expenditures in infrastructure (€ +10,044 million). A decline at DB Long-Distance (€ –1,172 million), which mainly resulted from the impairment of vehicles, had a dampening effect.
- This was offset almost entirely by negative effects from the deconsolidation of DB Schenker, higher deferred income at DB InfraGO (primarily in connection with the cash inflow from the Federal loan), higher provisions (including for sales deductions and for personnel) and higher liabilities (among others trade payables), par-ticularly at DB InfraGO and DB Regional.