Bell Financial Group Cash Flow Statement

Financials in millions AUD. Fiscal year is January - December.

Millions AUD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Income	36.01	30.74	24.32	25.69	44.12
Depreciation & Amortization, Total	7.53	7.66	8	7.93	11.65
Gain (Loss) On Sale of Investments	-2.87	2.67	1.86	3.82	0.75
Stock-Based Compensation	0.25	0.01	-	-	0.43
Change in Accounts Receivable	6.53	89.92	74.14	-8.12	-107.51
Change in Accounts Payable	20.89	-134.13	-163.56	-1.44	148.32
Change in Other Net Operating Assets	3.93	1.93	0.4	-22.48	-10.23
Operating Cash Flow	79.37	-2.06	-51.11	7.06	84.84
Capital Expenditures	-0.23	-0.44	-0.83	-0.44	-0.99
Investment in Securities	-2.08	2.64	-3.03	-5.58	0.09
Investing Cash Flow	-2.3	2.2	-3.86	-6.02	-0.9
Long-Term Debt Issued	-	-	130	-	52
Total Debt Issued	-	-	130	-	52
Long-Term Debt Repaid	-22.65	-138.73	-5.24	-52.47	-10.43
Total Debt Repaid	-22.65	-138.73	-5.24	-52.47	-10.43
Net Debt Issued (Repaid)	-22.65	-138.73	124.76	-52.47	41.58
Repurchase of Common Stock	-	-	-	-1.35	-1.7
Common Dividends Paid	-22.45	-25.66	-24.06	-28.87	-35.28
Other Financing Activities	24.88	124.82	-118.16	18.12	-19.84
Financing Cash Flow	-20.22	-39.57	-17.46	-64.57	-15.24
Net Cash Flow	56.84	-39.44	-72.43	-63.54	68.7
Free Cash Flow	79.14	-2.5	-51.94	6.62	83.85
Free Cash Flow Growth	-	-	-	-92.11%	-37.24%
Free Cash Flow Margin	28.42%	-0.99%	-22.70%	2.88%	29.01%
Free Cash Flow Per Share	0.25	-0.01	-0.16	0.02	0.26
Cash Interest Paid	20.74	23.91	18.2	7.54	3.12
Cash Income Tax Paid	14.06	15.33	10.61	12.14	21.61

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Capital Markets template. Financial Sources.