German enterprises constitute net debtors vis-à-vis non-residents: Standing at €1815 billion at the end of July 2025, their liabilities arising from financial operations and trade credits, exceeded their corresponding assets of €1547 billion by €268 billion. Compared with the previous month, this is a change of -€24 billion.

Financial operations with foreign non-banks are of particular importance here, while those with foreign banks play a secondary role. The first group accounts for 72 % of claims and 85 % of liabilities. At 20 % and 16 % respectively, the share of trade credits in these total figures remains comparatively small.