Analysis of liquidity

As at 30 June 2026, the Borussia Dortmund Group held unrestricted cash funds of EUR 3,668 thousand (30 June 2025: EUR 20,633 thousand).

It also had access to an additional EUR 75,000 thousand in overdraft facilities, which – as in the previous year – had not been drawn down as at the end of the reporting period.

Cash flows from operating activities amounted to EUR 63,888 thousand (previous year: EUR 57,712 thousand), and cash flows from investing activities amounted to EUR -66,172 thousand (previous year: EUR -36,734 thousand). Consequently, free cash flow amounted to EUR -2,284 thousand (previous year: EUR 20,978 thousand). Cash flows from financing activities amounted to EUR -14,682 thousand (previous year: EUR -4,705 thousand).