2025 Financial Statements of the Municipality of Vaduz

The 2025 financial statements for the Municipality of Vaduz show a revenue surplus of CHF 24.2 million, significantly better than expected in the budget. The main factors behind this strong result are, in particular, higher tax revenues and a positive financial result. “This confirms the municipality’s solid financial position and continues to provide leeway for important investments in infrastructure and many other public services,” notes Mayor Florian Meier.

The net income (retained earnings) for 2025 consists of the operating income (CHF 7.2 million) and the financial result (CHF 17.0 million). The income from operating activities is thus significantly higher than expected. This development is primarily attributable to higher tax revenues as well as lower operating expenses compared to the budget. Compared to the previous year, the operating result has recovered significantly—in 2024, it stood at around CHF 0.8 million.

Financial Result and Investment Volume

The financial result amounts to CHF 17.0 million and was influenced in particular by developments in the financial markets. The municipality’s investments generated a return of approximately 6.6 percent.

The municipality continued to invest in its infrastructure in 2025. Gross investments totaled CHF 22.9 million. After deducting the corresponding revenues—particularly from contributions and refunds—the net investment volume amounts to approximately CHF 21.7 million. The implementation rate stands at approximately 72.2 percent of the planned investment volume. Among the largest projects is the construction of the new fire station on Schaanerstrasse, with expenditures of approximately CHF 12.5 million. In addition, various building construction, civil engineering, and infrastructure projects were carried out.

Summary and Outlook

The 2025 annual financial statements confirm the stable financial position of the Municipality of Vaduz. For future development, the sustainability of tax revenues from legal entities, the general economic conditions, and developments in the financial markets will be particularly important. Against this backdrop, the Municipality of Vaduz will continue to align its financial planning with sustainable development. The focus will be on the balanced use of funds, ensuring the financing of ongoing tasks, and the continuation of key investment projects.