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Commerzbank AG
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Commerzbank AG
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Estado de flujo de caja

Estado de flujo de caja
Commerzbank AG

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Estado de flujo de caja
Moneda: EUR
Sep-1999 Dec-1999 Mar-2000 Jun-2000 Sep-2000 Dec-2000 Mar-2001 Jun-2001 Sep-2001 Dec-2001 Mar-2002 Jun-2002 Sep-2002 Dec-2002 Mar-2003 Jun-2003 Sep-2003 Dec-2003 Mar-2004 Jun-2004 Sep-2004 Dec-2004 Mar-2005 Jun-2005 Sep-2005 Dec-2005 Mar-2006 Jun-2006 Sep-2006 Dec-2006 Mar-2007 Jun-2007 Sep-2007 Dec-2007 Mar-2008 Jun-2008 Sep-2008 Dec-2008 Mar-2009 Jun-2009 Sep-2009 Dec-2009 Mar-2010 Jun-2010 Sep-2010 Dec-2010 Mar-2011 Jun-2011 Sep-2011 Dec-2011 Mar-2012 Jun-2012 Sep-2012 Dec-2012 Mar-2013 Jun-2013 Sep-2013 Dec-2013 Mar-2014 Jun-2014 Sep-2014 Dec-2014 Mar-2015 Jun-2015 Sep-2015 Dec-2015 Mar-2016 Jun-2016 Sep-2016 Dec-2016 Mar-2017 Jun-2017 Sep-2017 Dec-2017 Mar-2018 Jun-2018 Sep-2018 Dec-2018 Mar-2019 Jun-2019 Sep-2019 Dec-2019 Mar-2020 Jun-2020 Sep-2020 Dec-2020 Jun-2021 Dec-2021 Jun-2022 Dec-2022 Jun-2023 Dec-2023 Jun-2024 Dec-2024 Jun-2025 Dec-2025
Flujo de caja operativo
Beneficio neto
0
0
0
0
0
0
0
0
0
0
0
0
0
(298)
0
0
0
(2.320)
0
0
0
362
0
0
0
1.187
0
0
0
1.604
0
0
0
1.925
0
0
0
59
0
0
0
(4.633)
0
0
0
1.489
0
0
0
747
0
0
0
56
0
0
0
172
0
0
0
372
0
0
0
1.199
0
0
0
382
0
0
0
222
0
0
0
964
0
0
0
744
0
0
0
(2.861)
0
354
0
1.393
0
2.214
0
2.845
0
2.859
Depreciación y amortización
0
0
0
0
0
0
0
0
0
0
0
0
0
1.114
0
0
0
929
0
0
0
1.551
0
0
0
1.288
0
0
0
4.093
0
0
0
(156)
0
0
0
520
0
0
0
1.511
0
0
0
4.101
0
0
0
4.006
0
0
0
0
0
0
0
5.543
0
0
0
3.813
0
0
0
658
0
0
0
1.457
0
0
0
1.932
0
0
0
1.496
0
0
0
3.558
0
0
0
5.150
0
6.290
0
554
0
814
0
2.197
0
4.674
Variación en impuestos diferidos
0
0
0
0
0
0
0
0
0
0
0
0
0
(867)
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
Compensación basada en acciones
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
27
0
0
0
0
0
0
0
1
0
0
0
5
0
0
0
21
0
0
0
24
0
0
0
45
0
0
0
47
0
0
0
41
0
0
0
22
0
0
0
46
0
0
0
7
0
0
0
14
0
0
0
7
0
10
0
27
0
43
0
62
0
155
Otras partidas no monetarias
0
0
0
0
0
0
0
0
0
0
0
0
0
(1.450)
0
0
0
(1.338)
0
0
0
(687)
0
0
0
(6.069)
0
0
0
(1.988)
0
0
0
(6.060)
0
0
0
(4.954)
0
0
0
(1.105)
0
0
0
(4.622)
0
0
0
(19.224)
0
0
0
(11.189)
0
0
0
(12.458)
0
0
0
(1.414)
0
0
0
(3.428)
0
0
0
(2.214)
0
0
0
(11.056)
0
0
0
(10.148)
0
0
0
(7.934)
0
0
0
(8.031)
0
(532)
0
(11.041)
0
(6.100)
0
(5.764)
0
(1.649)
Impuestos pagados en efectivo
0
975
0
0
0
474
0
0
0
48
0
0
0
201
0
0
0
145
0
0
0
483
0
0
0
241
0
0
0
546
0
0
0
236
0
0
0
255
0
0
0
199
0
0
0
218
0
0
0
29
0
0
0
(271)
0
0
0
41
0
0
0
(131)
0
0
0
(166)
0
0
0
337
0
0
0
443
0
0
0
310
0
0
0
3
0
0
0
(23)
0
328
0
233
0
673
0
544
0
917
Intereses pagados en efectivo
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
6.844
0
0
0
5.268
0
0
0
4.933
0
0
0
4.460
0
0
0
3.630
0
0
0
3.381
0
0
0
3.193
0
0
0
3.106
0
0
0
2.810
0
2.477
0
3.739
0
8.996
0
13.044
0
11.278
Variación en capital de trabajo
19.019
15.441
12.443
9.350
3.953
13.178
21.407
23.290
25.478
28.473
20.113
14.554
9.850
(16.030)
(25.032)
(22.437)
(12.924)
5.406
9.097
11.388
8.480
3.083
8.111
9.680
8.297
20.356
50.953
43.435
41.903
32.932
(2.350)
967
867
1.617
(735)
(7.353)
(13.181)
(5.844)
983
(10.656)
(4.474)
(2.643)
(20.730)
1.702
(11.700)
(15.193)
(20.949)
(22.355)
(2.135)
(419)
(8.270)
(8.185)
(11.020)
16.519
5.048
(281)
(7.436)
(1.788)
(8.627)
(5.233)
(11)
220
8.195
20.716
4.894
16.177
67
(17.684)
2.053
7.626
32.692
44.600
38.298
29.299
6.526
1.341
1.934
7.286
8.780
11.070
(2.358)
(7.155)
(3.960)
17.515
29.811
39.418
24.262
(30.373)
(445)
34.953
(19.251)
23.354
21.507
(19.593)
(29.884)
(12.611)
Efectivo de actividades operativas
19.019
N/A
15.441
-19%
12.443
-19%
9.350
-25%
3.953
-58%
13.178
+233%
21.407
+62%
23.290
+9%
25.478
+9%
28.473
+12%
20.113
-29%
14.554
-28%
9.850
-32%
(17.531)
N/A
(25.032)
-43%
(22.437)
+10%
(12.924)
+42%
2.677
N/A
9.097
+240%
11.388
+25%
8.480
-26%
4.309
-49%
8.111
+88%
9.680
+19%
8.297
-14%
16.762
+102%
50.953
+204%
43.435
-15%
41.903
-4%
36.641
-13%
(2.350)
N/A
967
N/A
867
-10%
(2.674)
N/A
(735)
+73%
(7.353)
-900%
(13.181)
-79%
(10.219)
+22%
983
N/A
(10.656)
N/A
(4.474)
+58%
(6.870)
-54%
(20.730)
-202%
1.702
N/A
(11.700)
N/A
(14.225)
-22%
(20.949)
-47%
(22.355)
-7%
(2.135)
+90%
(14.890)
-597%
(8.270)
+44%
(8.185)
+1%
(11.020)
-35%
5.386
N/A
5.048
-6%
(281)
N/A
(7.436)
-2.546%
(8.531)
-15%
(8.627)
-1%
(5.233)
+39%
(11)
+100%
2.991
N/A
8.195
+174%
20.716
+153%
4.894
-76%
14.606
+198%
67
-100%
(17.684)
N/A
2.053
N/A
7.251
+253%
32.692
+351%
44.600
+36%
38.298
-14%
20.397
-47%
6.526
-68%
1.341
-79%
1.934
+44%
(402)
N/A
8.780
N/A
11.070
+26%
(2.358)
N/A
(10.787)
-357%
(3.960)
+63%
17.515
N/A
29.811
+70%
33.676
+13%
24.262
-28%
(24.261)
N/A
(445)
+98%
25.859
N/A
(19.251)
N/A
20.282
N/A
21.702
+7%
(20.315)
N/A
(29.884)
-47%
(6.727)
+77%
Flujo de caja de inversión
Gastos de capital
0
0
0
0
0
0
0
0
0
0
0
0
0
(738)
0
0
0
(317)
0
0
0
(505)
0
0
0
(429)
0
0
0
(1.212)
0
0
0
(275)
0
0
0
(624)
0
0
0
(4.426)
0
0
0
(492)
0
0
0
(296)
0
0
0
(457)
0
0
0
(1.528)
0
0
0
(735)
0
0
0
(252)
0
0
0
(362)
0
0
0
(908)
0
0
0
(589)
0
0
0
(699)
0
0
0
(898)
0
(973)
0
(675)
0
(998)
0
(1.146)
0
(1.147)
Otras partidas
(19.474)
(15.936)
(12.478)
(11.522)
(9.880)
(16.171)
(23.676)
(28.005)
(23.619)
(28.996)
(24.139)
(12.621)
(12.074)
20.583
28.036
23.472
15.293
(3.266)
(8.691)
(11.400)
(6.231)
(5.804)
(9.060)
(10.707)
(10.606)
(13.111)
(56.690)
(48.779)
(48.576)
(44.420)
372
(2.333)
(1.173)
2.956
5.829
8.660
12.736
3.166
(15.046)
(11.209)
(11.899)
(1.266)
11.516
3.233
6.237
15.255
20.243
22.714
18.239
17.605
12.474
11.976
11.209
5.417
1.411
4.106
3.874
7.168
5.744
652
(4.266)
(8.172)
(8.400)
(623)
3.354
8.565
9.926
4.498
8.861
341
(1.482)
(2.469)
(6.668)
454
(412)
(259)
(589)
31
(617)
(606)
(944)
(145)
(725)
(881)
(456)
(323)
(1.251)
169
(835)
(38)
(878)
78
(1.356)
(167)
(947)
148
Efectivo de actividades de inversión
(19.474)
N/A
(15.936)
+18%
(12.478)
+22%
(11.522)
+8%
(9.880)
+14%
(16.171)
-64%
(23.676)
-46%
(28.005)
-18%
(23.619)
+16%
(28.996)
-23%
(24.139)
+17%
(12.621)
+48%
(12.074)
+4%
19.845
N/A
28.036
+41%
23.472
-16%
15.293
-35%
(3.583)
N/A
(8.691)
-143%
(11.400)
-31%
(6.231)
+45%
(6.309)
-1%
(9.060)
-44%
(10.707)
-18%
(10.606)
+1%
(13.540)
-28%
(56.690)
-319%
(48.779)
+14%
(48.576)
+0%
(45.632)
+6%
372
N/A
(2.333)
N/A
(1.173)
+50%
2.681
N/A
5.829
+117%
8.660
+49%
12.736
+47%
2.542
-80%
(15.046)
N/A
(11.209)
+26%
(11.899)
-6%
(5.692)
+52%
11.516
N/A
3.233
-72%
6.237
+93%
14.763
+137%
20.243
+37%
22.714
+12%
18.239
-20%
17.309
-5%
12.474
-28%
11.976
-4%
11.209
-6%
4.960
-56%
1.411
-72%
4.106
+191%
3.874
-6%
5.640
+46%
5.744
+2%
652
-89%
(4.266)
N/A
(8.907)
-109%
(8.400)
+6%
(623)
+93%
3.354
N/A
8.313
+148%
9.926
+19%
4.498
-55%
8.861
+97%
(21)
N/A
(1.482)
-6.957%
(2.469)
-67%
(6.668)
-170%
(454)
+93%
(412)
+9%
(259)
+37%
(589)
-127%
(558)
+5%
(617)
-11%
(606)
+2%
(944)
-56%
(844)
+11%
(725)
+14%
(881)
-22%
(456)
+48%
(1.221)
-168%
(1.251)
-2%
(804)
+36%
(835)
-4%
(713)
+15%
(878)
-23%
(920)
-5%
(1.356)
-47%
(1.313)
+3%
(947)
+28%
(999)
-5%
Flujo de caja de financiación
Emisión neta de acciones ordinarias
0
0
0
0
0
0
0
0
0
0
0
0
0
(82)
0
0
0
831
0
0
0
1
0
0
0
1.364
0
0
0
(10)
0
0
0
0
0
0
0
1.079
0
0
0
2.528
0
0
0
(56)
0
0
0
(2.774)
0
0
0
927
0
0
0
45
0
0
0
0
0
0
0
1.377
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
(122)
0
(1.072)
0
(1.528)
Emisión neta de deuda
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
(967)
0
0
0
(926)
0
0
0
2.208
0
(1.706)
0
178
0
(722)
0
953
0
16
Efectivo pagado por dividendos
0
0
0
0
0
0
0
0
0
0
0
0
0
(217)
0
0
0
(54)
0
0
0
0
0
0
0
(150)
0
0
0
(328)
0
0
0
(493)
0
0
0
(657)
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
(250)
0
0
0
0
0
0
0
0
0
(250)
0
(415)
0
(733)
Otros
1.720
2.778
2.404
1.611
3.388
1.922
2.353
2.897
234
238
(194)
(1.466)
(734)
(1.287)
(1.591)
(1.387)
(1.645)
(856)
(155)
(30)
174
(529)
(137)
(120)
(418)
(733)
5.836
5.048
6.849
6.671
647
511
(800)
(318)
(480)
(271)
1.388
8.734
17.153
26.770
24.825
13.802
8.215
(483)
(1.373)
(2.874)
(1.891)
(6.311)
(5.030)
(1.690)
(5.419)
(4.120)
(1.761)
(1.553)
(1.200)
1.546
(447)
(200)
161
(166)
(1.503)
(1.795)
(1.789)
10
295
(879)
921
(407)
1.146
69
(215)
(518)
(1.437)
(273)
(578)
(113)
229
0
(1.843)
(2.411)
(2.189)
(1)
(126)
2.361
1.530
0
(761)
495
(765)
0
748
(195)
(1.717)
1.099
(157)
(1.224)
Efectivo de actividades de financiación
1.720
N/A
2.778
+62%
2.404
-13%
1.611
-33%
3.388
+110%
1.922
-43%
2.353
+22%
2.897
+23%
234
-92%
238
+2%
(194)
N/A
(1.466)
-656%
(734)
+50%
(1.586)
-116%
(1.591)
0%
(1.387)
+13%
(1.645)
-19%
(79)
+95%
(155)
-96%
(30)
+81%
174
N/A
(528)
N/A
(137)
+74%
(120)
+12%
(418)
-248%
481
N/A
5.836
+1.113%
5.048
-14%
6.849
+36%
6.333
-8%
647
-90%
511
-21%
(800)
N/A
(811)
-1%
(480)
+41%
(271)
+44%
1.388
N/A
9.156
+560%
17.153
+87%
26.770
+56%
24.825
-7%
16.330
-34%
8.215
-50%
(483)
N/A
(1.373)
-184%
(2.930)
-113%
(1.891)
+35%
(6.311)
-234%
(5.030)
+20%
(4.464)
+11%
(5.419)
-21%
(4.120)
+24%
(1.761)
+57%
(626)
+64%
(1.200)
-92%
1.546
N/A
(447)
N/A
(155)
+65%
161
N/A
(166)
N/A
(1.503)
-805%
(1.795)
-19%
(1.789)
+0%
10
N/A
295
+2.850%
498
+69%
921
+85%
(407)
N/A
1.146
N/A
69
-94%
(215)
N/A
(518)
-141%
(1.437)
-177%
(273)
+81%
(578)
-112%
(113)
+80%
229
N/A
(967)
N/A
(1.843)
-91%
(2.411)
-31%
(2.189)
+9%
(1.177)
+46%
(126)
+89%
2.361
N/A
1.530
-35%
2.208
+44%
(761)
N/A
(1.211)
-59%
(765)
+37%
178
N/A
748
+320%
(1.289)
N/A
(1.717)
-33%
565
N/A
(157)
N/A
(3.469)
-2.110%
Cambio en efectivo
Efecto de los tipos de cambio
18
(65)
(77)
(76)
(78)
14
26
24
27
22
20
21
17
106
128
164
135
(52)
(42)
(103)
(72)
(13)
(43)
(7)
(13)
37
21
18
23
(3)
10
(1)
(5)
(6)
(13)
(13)
(2)
(70)
(112)
(108)
(100)
(5)
186
259
123
116
(268)
(406)
(79)
67
237
447
185
(40)
149
(205)
(328)
(312)
(418)
(123)
501
211
445
264
(191)
195
(321)
(140)
(129)
20
345
114
17
(144)
(319)
(22)
126
107
295
140
93
58
(113)
(100)
(226)
(223)
(18)
179
685
402
(375)
(180)
504
939
(640)
(1.376)
Variación neta de efectivo
1.283
N/A
2.218
+73%
2.292
+3%
(637)
N/A
(2.617)
-311%
(1.057)
+60%
110
N/A
(1.794)
N/A
2.120
N/A
(263)
N/A
(4.200)
-1.497%
488
N/A
(2.941)
N/A
834
N/A
1.541
+85%
(188)
N/A
859
N/A
(1.037)
N/A
209
N/A
(145)
N/A
2.351
N/A
(2.541)
N/A
(1.129)
+56%
(1.154)
-2%
(2.740)
-137%
3.740
N/A
120
-97%
(278)
N/A
199
N/A
(2.661)
N/A
(1.321)
+50%
(856)
+35%
(1.111)
-30%
(810)
+27%
4.601
N/A
1.023
-78%
941
-8%
1.409
+50%
2.978
+111%
4.797
+61%
8.352
+74%
3.763
-55%
(813)
N/A
4.711
N/A
(6.713)
N/A
(2.276)
+66%
(2.865)
-26%
(6.358)
-122%
10.995
N/A
(1.978)
N/A
(978)
+51%
118
N/A
(1.387)
N/A
9.680
N/A
5.408
-44%
5.166
-4%
(4.337)
N/A
(3.358)
+23%
(3.140)
+6%
(4.870)
-55%
(5.279)
-8%
(7.500)
-42%
(1.549)
+79%
20.367
N/A
8.352
-59%
23.612
+183%
10.593
-55%
(13.733)
N/A
11.931
N/A
7.319
-39%
31.340
+328%
41.727
+33%
30.210
-28%
19.526
-35%
5.217
-73%
947
-82%
1.700
+80%
(1.820)
N/A
6.615
N/A
8.193
+24%
(5.398)
N/A
(12.750)
-136%
(4.924)
+61%
18.895
N/A
30.659
+62%
34.440
+12%
22.232
-35%
(26.097)
N/A
(1.360)
+95%
25.726
N/A
(19.756)
N/A
17.893
N/A
19.133
+7%
(20.124)
N/A
(31.628)
-57%
(12.571)
+60%
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El valor intrínseco es de vital importancia y es la única forma lógica de evaluar el atractivo relativo de las inversiones y los negocios.

Warren Buffett