A commanding second-place finish with the league's best defence, a financially painful "knockout blow" (Managing Director Carsten Cramer) in the Champions League, and an unfortunate round-of-16 exit in the DFB-Pokal—Borussia Dortmund's 2025/26 record is solid when focusing on their core business, the Bundesliga. Yet the campaign falls short of greatness and shows little progress on the previous two terms.
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Hardly an improvement on the previous two seasons, Borussia Dortmund's second-place finish is deceptive
"You have to remember where you came from" has been BVB's mantra for the past eleven months. To put that in context, the club finished fifth in 2023/24 and fourth in 2024/25, reaching the Champions League final in one campaign and the quarter-finals in the other. In the cup, their runs ended in the round of 16 and the second round, respectively.
Widen the lens to the eleven seasons since Jürgen Klopp left, and this campaign ranks as the club's third-best Bundesliga showing under Niko Kovac—their strongest in seven years. In eight of those eleven terms, BVB scored more goals.
Excluding the two seasons constantly cited by club officials, Dortmund finished as runners-up five times, third twice and fourth once in eight campaigns. The numbers confirm where BVB truly belongs: challenging at the top as Germany's clear financial number two.
Getty ImagesHas BVB's foundation truly become more solid under Niko Kovac?
Finishing as runners-up this term—Borussia Dortmund's sixth second-place finish since 2015—aligns the club with its stated ambitions. That is neither more nor less than what has happened, without in any way discrediting Kovac's work.
The 54-year-old oversaw Dortmund's best defence in a decade—a feat last matched by Thomas Tuchel in 2015/16—and his numbers speak for themselves: 43 wins, 16 losses, and 13 draws from 72 competitive matches. Kovac has anchored the back line, bred a gritty work ethic, and maintained potent firepower up front.
That alone merits considerable credit, especially given the abbreviated off-season and the demanding Club World Cup in the United States. Sporting director Ole Book has stated that the club will build on this "very good foundation" next term. Whether the squad is now genuinely more solid overall—and can therefore fulfil the "new BVB" vision set by managing director Carsten Cramer—remains to be seen.
BVB: Bundesliga table positions since 2015/16
Season Manager Position Goal difference Points 2015/16 Thomas Tuchel 2nd 82:34 78 2016/17 Thomas Tuchel 3 72:40 64 2017/18 Peter Bosz/Peter Stöger 4 64:47 55 2018/19 Lucien Favre 2 81:44 76 2019/20 Lucien Favre/Edin Terzic 2 84:41 69 2020/21 Edin Terzic 3 75:46 64 2021/22 Marco Rose 2 85:52 69 2022/23 Edin Terzic 2 83:44 71 2023/24 Edin Terzic 5 68:43 63 2024/25 Nuri Sahin/Niko Kovac 4 71:51 57 2025/26 Niko Kovac 2 70:34 73
Getty ImagesHere is how BVB's future development is expected to unfold.
The blueprint for Borussia Dortmund's development is clear: under Kovac, they aim to project an image rarely seen so far. They want to attack with greater boldness and foresight, link up with renewed ingenuity, and exert stronger control over opponents when in possession. To that end, they have already added—and will keep adding—young, promising talents whose early contributions should bring flair and fluidity, while potentially delivering hefty transfer fees down the line.
On paper, it sounds excellent, and fans are eager to see Book's first transfer window at BVB. Yet, when we examine Dortmund's last 72 competitive matches, the more intriguing question is: can Kovac—who, by all accounts, is set to receive a second early contract extension within a year—really meet these expectations?
To deliver that, he may need to reinvent himself. Throughout his coaching career, Kovac has favoured a pragmatic, defensive approach whose rigid tactics often stifle free-flowing football. In Dortmund so far, he has failed to inject genuine creativity or surprise into the side's play.
AFPBVB exposed clear weaknesses against strong opponents
That is precisely why the club's management is now demanding the next stage of development. The logic is simple: the defence is solid and should stay that way, but the attack needs more firepower. As a result, Kovac's deliberate decision to drop wingers who excel in one-on-one situations is being reversed.
For that to work tactically, Kovac must significantly adapt his familiar, notorious "U-pass" system (click here for a detailed explanation). While that approach boosted defensive solidity, Offensively, though, it creates a heavy reliance on crosses. No surprise, then, that Julian Ryerson finished the season with a standout 18 assists in just 15 appearances.
This approach exposed BVB's limitations against quality opposition. In 16 matches against Bayern, Leipzig, Stuttgart, Hoffenheim, Leverkusen, Man City, Inter, Tottenham and Bergamo, the club managed only four wins, losing nine times and shipping 28 goals.
AFPBVB and the fallacy of second place
This is more than a trend. Dortmund have regressed significantly against strong opponents, too often lacking maturity, resilience and consistency. That regression exposes questions about the squad's quality. For years, BVB have carried too many inconsistent performers. Full-backs Ryerson and Daniel Svensson are not world-class, the squad still lacks a commanding defensive midfielder, and genuine leaders remain elusive.
Even in the league, their performances—judged on quality alone—have been mostly mediocre. In expected points, BVB have bagged eleven more than projected—without that overperformance, they would have sneaked into the Champions League only via goal difference over Stuttgart. Much of that surplus came from clinical finishing: a few chances, a few decisive goals.
Second place, then, is no guarantee of progress. That must come next season, and it is up to Kovac to deliver—better and differently than before.
BVB Fixtures: Borussia Dortmund's Upcoming Matches
Date Competition Match 18 July Friendly Rot-Weiß Oberhausen vs. BVB 29 July Friendly Cerezo Osaka vs. BVB 1 August Friendly FC Tokyo vs. BVB