BELEX:AERO Balance Sheet

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

Millions RSD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	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
Cash & Equivalents	4,558	725.6	1,768	546.95	770.85	612.13
Short-Term Investments	3,437	3,430	1,397	457.83	45.65	46.38
Cash & Short-Term Investments	7,995	4,155	3,165	1,005	816.51	658.51
Cash Growth	114.98%	31.27%	215.03%	23.06%	23.99%	-14.67%
Accounts Receivable	326.97	372.19	307.94	280.77	187.65	9.21
Other Receivables	22.49	44.28	49.04	1,745	1,717	1,689
Receivables	349.46	416.47	356.98	2,026	1,905	1,698
Inventory	186.52	34.44	1.39	1.3	2.95	1.72
Other Current Assets	3.1	0.26	0.13	0.2	0.23	0.22
Total Current Assets	8,534	4,606	3,524	3,032	2,724	2,359
Property, Plant & Equipment	49,626	49,795	50,391	38,489	28,773	27,812
Other Intangible Assets	17.98	5.63	11.98	19.25	8.47	20.46
Other Long-Term Assets	724.75	846.69	1,569	1,754	2,004	2,082
Total Assets	58,990	55,341	55,591	43,402	33,509	32,274
Accounts Payable	42.77	14.05	16.88	27.13	19.1	14.43
Accrued Expenses	0.99	0.59	0.88	0.91	0.79	0.89
Current Portion of Leases	14.67	19.31	15.86	13.22	24.28	24.61
Current Unearned Revenue	658.72	929.12	921.32	706.27	216.59	159.92
Other Current Liabilities	28.94	20.29	18.67	20.31	20.33	20.35
Total Current Liabilities	746.08	983.36	973.6	767.83	281.1	220.21
Long-Term Leases	46.24	43.69	50.83	-	11.87	30.82
Long-Term Unearned Revenue	16,078	16,078	16,685	12,827	3,685	2,509
Pension & Post-Retirement Benefits	3.76	3.76	4.07	2.87	2.22	1.95
Long-Term Deferred Tax Liabilities	1,999	1,999	1,998	827.67	795.57	769.92
Other Long-Term Liabilities	99.16	101.83	97.16	97.34	93.18	124.38
Total Liabilities	18,972	19,209	19,809	14,523	4,869	3,656
Common Stock	22,776	21,016	21,016	21,016	21,016	21,016
Additional Paid-In Capital	2,298	306.86	306.86	306.86	306.86	306.86
Retained Earnings	6,339	6,204	5,811	5,369	5,119	5,081
Comprehensive Income & Other	8,604	8,604	8,648	2,188	2,199	2,214
Shareholders' Equity	40,018	36,131	35,781	28,879	28,640	28,617
Total Liabilities & Equity	58,990	55,341	55,591	43,402	33,509	32,274
Total Debt	60.91	63	66.69	13.22	36.16	55.43
Net Cash (Debt)	7,934	4,092	3,099	991.56	780.35	603.09
Net Cash Growth	116.82%	32.06%	212.51%	27.07%	29.39%	-21.85%
Net Cash Per Share	222.23	117.02	88.61	28.31	22.28	17.22
Filing Date Shares Outstanding	34.97	34.97	34.97	34.97	34.97	35.03
Total Common Shares Outstanding	34.97	34.97	34.97	34.97	34.97	35.03
Working Capital	7,788	3,623	2,550	2,264	2,443	2,139
Book Value Per Share	1144.33	1033.19	1023.18	825.82	818.98	817.03
Tangible Book Value	40,000	36,126	35,769	28,860	28,632	28,597
Tangible Book Value Per Share	1143.81	1033.03	1022.84	825.27	818.74	816.45
Land	21,551	21,551	21,551	14,180	14,180	14,180
Buildings	26,661	26,661	26,386	22,909	12,528	11,225
Machinery	2,631	2,631	2,757	4,077	4,112	4,112
Construction In Progress	266.74	253.18	285.49	258.58	249.36	141.32

Source: S&P Global Market Intelligence. Standard template. Financial Sources.