Annual Report 2025

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Lamine Yamal in a red Spain adidas jersey posing in a stadium. (Photo)

Consolidated Statement of Financial Position

adidas AG Consolidated Statement of Financial Position (IFRS) € in millions

 

 

Note

 

Dec. 31, 2025

 

Dec. 31, 2024

 

Change

Assets

 

 

 

 

 

 

 

 

Cash and cash equivalents

 

04

 

1,617

 

2,455

 

(34.1%)

Accounts receivable

 

05

 

2,634

 

2,413

 

9.2%

Other current financial assets

 

06

 

518

 

950

 

(45.4%)

Inventories

 

07

 

5,832

 

4,989

 

16.9%

Income tax receivables

 

34

 

167

 

101

 

66.1%

Other current assets

 

08

 

1,208

 

997

 

21.2%

Total current assets

 

 

 

11,977

 

11,904

 

0.6%

 

 

 

 

 

 

 

 

 

Property, plant, and equipment

 

09

 

1,973

 

2,133

 

(7.5%)

Right-of-use assets

 

10

 

2,605

 

2,779

 

(6.3%)

Goodwill

 

11

 

1,203

 

1,275

 

(5.7%)

Other intangible assets

 

12

 

443

 

426

 

3.9%

Long-term financial assets

 

13

 

353

 

340

 

3.6%

Other non-current financial assets

 

14

 

217

 

234

 

(7.2%)

Deferred tax assets

 

34

 

1,077

 

1,272

 

(15.4%)

Other non-current assets

 

15

 

415

 

291

 

42.5%

Total non-current assets

 

 

 

8,285

 

8,751

 

(5.3%)

 

 

 

 

 

 

 

 

 

Total assets

 

 

 

20,262

 

20,655

 

(1.9%)

 

 

 

 

 

 

 

 

 

Liabilities and equity

 

 

 

 

 

 

 

 

Short-term borrowings

 

16

 

645

 

570

 

13.3%

Accounts payable

 

 

 

2,910

 

3,096

 

(6.0%)

Current lease liabilities

 

19

 

603

 

607

 

(0.7%)

Other current financial liabilities

 

17

 

335

 

191

 

75.0%

Income taxes

 

34

 

357

 

334

 

6.9%

Other current provisions

 

18

 

1,208

 

1,538

 

(21.4%)

Current accrued liabilities

 

20

 

2,383

 

2,659

 

(10.4%)

Other current liabilities

 

21

 

652

 

598

 

8.9%

Total current liabilities

 

 

 

9,094

 

9,593

 

(5.2%)

 

 

 

 

 

 

 

 

 

Long-term borrowings

 

16

 

1,996

 

1,915

 

4.3%

Non-current lease liabilities

 

19

 

2,310

 

2,495

 

(7.4%)

Other non-current financial liabilities

 

22

 

7

 

1

 

413.9%

Pensions and similar obligations

 

23

 

106

 

144

 

(26.5%)

Deferred tax liabilities

 

34

 

45

 

133

 

(65.8%)

Other non-current provisions

 

18

 

436

 

353

 

23.6%

Other non-current liabilities

 

24

 

143

 

154

 

(7.0%)

Total non-current liabilities

 

 

 

5,043

 

5,194

 

(2.9%)

 

 

 

 

 

 

 

 

 

Share capital

 

 

 

179

 

179

 

0.1%

Reserves

 

 

 

(161)

 

522

 

n.a.

Retained earnings

 

 

 

5,758

 

4,775

 

20.6%

Shareholders’ equity

 

25

 

5,776

 

5,476

 

5.5%

 

 

 

 

 

 

 

 

 

Non-controlling interests

 

27

 

349

 

392

 

(10.9%)

 

 

 

 

 

 

 

 

 

Total equity

 

 

 

6,125

 

5,867

 

4.4%

 

 

 

 

 

 

 

 

 

Total liabilities and equity

 

 

 

20,262

 

20,655

 

(1.9%)

The accompanying Notes are an integral part of these consolidated financial statements.