Net assets

    Net assets

    T.07 BALANCE SHEET (German GAAP, HGB)

     

    31.12.2024

    31.12.2023

     

     

    € million

    %

    € million

    %

    +/- %

    Fixed Assets

    1,629.1

    61.5%

    1,648.9

    63.3%

    -1.2%

    Inventory

    98.9

    3.7%

    85.7

    3.3%

    15.4%

    Receivables and other current assets

    851.9

    32.2%

    680.9

    26.1%

    25.1%

    Cash and cash equivalents

    49.2

    1.9%

    165.8

    6.4%

    -70.3%

    Current Assets

    1,000.0

    37.8%

    932.4

    35.8%

    7.3%

    Others

    19.0

    0.7%

    23.7

    0.9%

    -19.9%

    Total Assets

    2,648.1

    100.0%

    2,605.0

    100.0%

    1.7%

    Equity

    905.6

    34.2%

    925.8

    35.5%

    -2.2%

    Accruals/Provision

    110.0

    4.2%

    123.7

    4.7%

    -11.1%

    Liabilities

    1,632.1

    61.6%

    1,555.0

    59.7%

    5.0%

    Others

    0.4

    0.0%

    0.5

    0.0%

    -7.1%

    Total Equity & Liabilities

    2,648.1

    100.0%

    2,605.0

    100.0%

    1.7%

    In 2024, fixed assets decreased by a total of 1.2% to € 1,629.1 million. This reduction is largely attributable to the sale of ERP software to affiliated companies in the amount of € 35.9 million. In contrast, there were further investments in IT and financial assets.

    The 15.4% increase in inventories in current assets to € 98.9 million is mainly due to a larger inventory of Teamsport apparel to allow us to fulfil re-orders by customers more quickly. Receivables and other assets increased by a total of 25.1% compared with the previous year to € 851.9 million. In particular, increased receivables from the financing of affiliated companies contributed to this development. Cash and cash equivalents decreased by 70.3% to € 49.2 million compared to the previous year, mainly due to cash outflow from financing activities.

    On the equity and liabilities side, equity fell by 2.2% to € 905.6 million in 2024. In combination with the increase in total assets due to higher liabilities, this led to a decline in the equity ratio to 34.2% as at the balance sheet date of 31 December 2024 (previous year: 35.5%).

    Provisions decreased by 11.1% compared to the previous year to € 110.0 million. This development was mainly due to lower provisions for outstanding invoices and personnel costs. Liabilities increased from € 1,555.0 million in the previous year to € 1,632.1 million as of 31 December 2024. This increase was mainly the result of increased liabilities to affiliated companies and the corresponding decreased liabilities to banks due to the repayment of a promissory note loan.

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