diff --git a/content/about/_index.md b/content/about/_index.md
index 7429ac3..5c72540 100644
--- a/content/about/_index.md
+++ b/content/about/_index.md
@@ -71,6 +71,7 @@ Support is provided without any commercial marketing agreement and solely to fur
 
 The OpenRail Association publishes annual reports to provide a one-stop resource to learn about activities and highlights of each calendar year. They are available as PDF. Read them for your information and feel free to share them with others to spread the word about what is happening regarding open source in the railway sector.
 
+* [2025: From Collaboration to Impact]({{< relurl "documents/OpenRail-Association-Annual-Report-2025.pdf" >}})
 * [2024: A Year of Collaborative Innovation]({{< relref "/news/2025-04-30-annual-report.md" >}})
 
 ### Metrics reports {#metrics-reports}
diff --git a/data/banner.yml b/data/banner.yml
index b85d19b..cb9df37 100644
--- a/data/banner.yml
+++ b/data/banner.yml
@@ -22,8 +22,8 @@ buttons:
   - label : "Get In Touch"
     link : "#contact"
     class : button big wide smooth-scroll-middle
-  - label : "Annual Report 2024"
-    link : "documents/OpenRail-Association-Annual-Report-2024.pdf"
+  - label : "Annual Report 2025"
+    link : "documents/OpenRail-Association-Annual-Report-2025.pdf"
     class : button big wide smooth-scroll-middle
 image:
   src: "images/aerial-railway-jakub-nawrot-unsplash.jpg"
diff --git a/data/members.yml b/data/members.yml
index 27a5046..6ebb898 100644
--- a/data/members.yml
+++ b/data/members.yml
@@ -62,8 +62,8 @@ membership_links:
   - name: Compliance and Antitrust Policy
     link: "documents/OpenRail-Compliance-and-Antritrust-Policy.pdf"
     class: small wide
-  - name: Annual Report 2024
-    link: "documents/OpenRail-Association-Annual-Report-2024.pdf"
+  - name: Annual Report 2025
+    link: "documents/OpenRail-Association-Annual-Report-2025.pdf"
     class: small wide
   - name: Get in touch
     link: "#contact"
diff --git a/static/documents/OpenRail-Association-Annual-Report-2025.pdf b/static/documents/OpenRail-Association-Annual-Report-2025.pdf
new file mode 100644
index 0000000..392f52d
Binary files /dev/null and b/static/documents/OpenRail-Association-Annual-Report-2025.pdf differ