Smart Capital Cash Flow Statement

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

Millions EUR. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022
Net Income	8.95	1.45	0.42	0.56
Depreciation & Amortization	0.26	0.24	0.02	0.02
Other Adjustments	1.1	1.41	-0.74	-0.75
Change in Receivables	0.11	-0.01	-0.17	-0.09
Changes in Accounts Payable	-0.01	0.37	0.14	0.01
Changes in Accrued Expenses	-0.23	0.67	0.07	0.01
Changes in Income Taxes Payable	-0.06	-0.28	-0.15	-0.02
Changes in Other Operating Activities	1.31	0.99	0.35	1.35
Operating Cash Flow	11.42	4.83	-0.06	1.09
Operating Cash Flow Growth	136.41%	-	-	-
Capital Expenditures	-0	-0	-0.01	-0.01
Purchases of Intangible Assets	-0.17	-1.08	-0.06	-0.02
Proceeds from Sale of Intangible Assets	0.05	-	-	-
Purchases of Investments	-49.03	-26.22	-10.39	-16.62
Proceeds from Sale of Investments	14.35	6.15	2.57	-
Investing Cash Flow	-34.8	-21.14	-7.9	-16.65
Short-Term Debt Issued	10.43	4.76	-0.04	0.45
Net Short-Term Debt Issued (Repaid)	10.43	4.76	-0.04	0.45
Long-Term Debt Issued	9	-	-	3.42
Long-Term Debt Repaid	-	-0.42	-3.65	-
Net Long-Term Debt Issued (Repaid)	9	-0.42	-3.65	3.42
Issuance of Common Stock	0.24	17.3	13.44	12.6
Net Common Stock Issued (Repurchased)	0.24	17.3	13.44	12.6
Common Dividends Paid	-	-0.25	-0.13	-
Financing Cash Flow	19.67	21.4	9.62	16.47
Net Cash Flow	-3.71	5.08	1.66	0.91
Free Cash Flow	11.42	4.83	-0.07	1.08
Free Cash Flow Growth	136.55%	-	-	-
FCF Margin	994.59%	493.03%	-19.13%	906.90%
Free Cash Flow Per Share	0.37	0.16	-330.06	-
Levered Free Cash Flow	29.59	8.25	-2.38	5.77
Unlevered Free Cash Flow	-1.68	0.8	-0.08	0.96