The net value of the stock of produced assets stood at €1.4 trillion at the end of 2025. This was an increase of €58 billion (+4.3%) on the value at the end of 2024. When measured in constant prices, the net value of capital stock increased by €13 billion (+1.0%) at the end of 2025.
| Net Capital Stock of Fixed Assets | € billion | |||||
| End of year | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
| Current Prices | 1,157 | 1,177 | 1,264 | 1,348 | 1,355 | 1,413 |
| Constant 2024 Prices | 1,439 | 1,420 | 1,399 | 1,398 | 1,355 | 1,368 |
Figure 1 shows a breakdown of the net capital stock of fixed assets by industry sector. The largest change in value was in the Real Estate sector, which grew by €49 billion (+9.5%) to a total of €564 billion. Most of the increase in this sector was due to a rise in the value of Dwellings, excluding land (see Table 1.1).
The net capital stock in Other Sectors increased by €10 billion (+4.6%) while the Public Administration & Defence sector grew by €2 billion (+2.2%). While most sectors experienced an increase in the value of their net stock, the Manufacturing sector decreased by €4 billion (-1.7%) which was mainly driven by a decrease in the value of Research & Development related assets.
| X-axis label | Other Sectors | Public Administration & Defence | Information & Communication | Administrative & Support Service Activities | Manufacturing | Real Estate Activities |
|---|---|---|---|---|---|---|
| 2020 | 163.3202535967 | 60.2855088176 | 175.1976599031 | 138.6713596429 | 306.7997520752 | 312.4535256304 |
| 2021 | 176.2380705284 | 67.6623744343 | 167.6237471391 | 138.2119004147 | 284.6885994085 | 342.800859076 |
| 2022 | 193.7690441442 | 76.8679883702 | 164.6424329132 | 140.2955323607 | 280.684384342 | 408.0294183662 |
| 2023 | 206.0448424254 | 81.2642657647 | 154.6681002437 | 152.9881647447 | 275.9658457892 | 477.0398805962 |
| 2024 | 213.4004635102 | 84.2540424408 | 132.0915318048 | 155.3506402275 | 255.293593715 | 515.0454024829 |
| 2025 | 223.3021187495 | 86.1254848658 | 132.1147281635 | 156.5516260057 | 250.8910405007 | 564.087676673 |
Table 1.7 breaks down the net capital stock by industry sector and asset category. The majority (87%) of the net capital stock of Transport Equipment assets were held by the Administrative and Support Services Activities sector at the end of 2025 due to the stock of aircraft held by aircraft leasing companies. Over half (58%) of Research & Development related assets were held by the Manufacturing sector at the end of 2025, while 34% were held by the Information & Communications sector.
Consumption of Fixed Capital (often termed depreciation) decreased in value by €13 billion in 2025, to a total of €126 billion by the end of the year (see Table 1.5). This was mainly driven by a fall in depreciation of €15 billion in the Manufacturing sector.
Almost four-fifths of the total depreciation was concentrated in four Industry sectors: Manufacturing (€48 billion), Information & Communication (€29 billion), Administrative & Support Service Activities (€12 billion) and Real Estate Activities (€11 billion).
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