(11) Financial liabilities

In order to finance investments in property, plant and equipment, Borussia Dortmund has loans in place totalling EUR 63,200 thousand, of which EUR 37,200 thousand had been drawn down as at the end of the reporting period. As at 30 June 2025, EUR 33,599 thousand was outstanding (30 June 2024: EUR 28,701 thousand). These loans are secured against items of property, plant and equipment.

As of the reporting date, financial liabilities amounted to EUR 34,173 thousand (30 June 2024: EUR 28,701 thousand), of which EUR 29,025 thousand (30 June 2024: EUR 26,077 thousand) were non-current and EUR 5,148 thousand (30 June 2024: EUR 2,624 thousand) current. The interest rate swap designated as a hedge had a negative value of EUR 575 thousand as at the end of the reporting period and is classified as non-current. Changes in value are recognised in other comprehensive income.