IX. Notes to the statement of cash flows

In fiscal year 2025, the carrying amounts relating to the financing activities developed as follows:

Development of the carrying amounts relating to the financing activities

TEUR

	Payables to associates and shareholdings	Financial liabilities from loans	Financial liabilities to shareholders	Lease liabilities	Financial liabilities from interests in partnerships	Derivative financial liabilities	Total
Statement of financial position as at Jan. 1, 2025	8,805	2,274,905	257,749	18,454	431,244	3,018
Proceeds from borrowings	0	628,943	0	0	0	0	628,943
Repayments of borrowings from banks	0	−322,049	−241,913	0	0	0	−563,962
Repayments of lease liabilities	0	0	0	−7,618	0	0	−7,618
Interest paid (excluding borrowing costs for qualifying assets)	0	−38,806	−15,837	−542	0	−308	−55,493
Cash inflows from Group-wide cash management with associated and affiliated companies	1,403	0	0	0	0	0	1,403
Payments for borrowing costs for qualifying assets	0	−15,883	0	0	0	0	−15,883
Cash flow from financing activities	1,403	252,205	−257,750	−8,160	0	−308	−12,610
Changes in fair value	0	0	0	0	−3,681	−1,798	−5,479
Effects of changes in foreign exchange rates	0	−1,556	0	−284	0	0	−1,840
Other changes	1,966	54,938	10,525	9,490	28,392	72	105,383
Statement of financial position as at Dec. 31, 2025	12,174	2,580,492	10,524	19,500	455,955	984

Development of the carrying amounts relating to the financing activities

TEUR

	Payables to associates and shareholdings	Financial liabilities from loans	Financial liabilities to shareholders	Lease liabilities	Financial liabilities from interests in partnerships	Derivative financial liabilities	Total
Statement of financial position as at Jan. 1, 2024	10,558	2,260,629	518,315	18,238	398,780	324
Proceeds from borrowings	0	694,936	0	0	0	0	694,936
Repayments of borrowings from banks	0	−684,236	−250,000	0	0	0	−934,236
Repayments of lease liabilities	0	0	0	−5,992	0	0	−5,992
Interest paid (excluding borrowing costs for qualifying assets)	0	−42,834	−26,401	−558	0	1,346	−68,447
Cash inflows from Group-wide cash management with associated and affiliated companies	−953	0	0	0	0	0	−953
Payments for borrowing costs for qualifying assets	0	−9,736	0	0	0	0	−9,736
Cash flow from financing activities	−953	−41,870	−276,401	−6,550	0	1,346	−324,428
Changes in fair value	0	0	0	0	11,046	1,889	12,935
Other changes	−800	56,146	15,835	6,766	21,418	−541	98,824
Statement of financial position as at Dec. 31, 2024	8,805	2,274,905	257,749	18,454	431,244	3,018

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