The aim of the article is to present and compare the major sources of financing of physical investments in Poland and Latvia and to attempt to identify their determinants. The subject of the diagnosis is the corporate sector in Poland and i Latvia in the years 2005-2015.The article uses methodology, developed by C. Mayer, J. Corbett and T. Jenkinson, that is based on the net sources of finance. The financial data analysed in the article come from the capital and financial accounts, constituting the element of the integrated system of national accounts. Assuming that in a given period of time, the sources of finance (revenue) are equal to their use (expenditure), it is possible to estimate the structure of financing of physical investments in the corporate sector. The practical dimension of the analysis should be viewed as an indication for identifying changes in the area of financing of physical investments in enterprises in the two countries.