Vrancart Balance Sheet

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

Millions RON. 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	16.81	2.14	1.85	2.82	3.56	2.37
Cash & Short-Term Investments	21.67	2.14	1.85	2.82	3.56	2.37
Cash Growth	340.75%	15.97%	-34.65%	-20.77%	50.45%	-57.38%
Accounts Receivable	82.46	82.76	92.81	74.41	104.97	101.93
Other Receivables	2.23	9.42	5.88	11.36	15.63	4.1
Receivables	84.69	92.18	98.7	85.77	120.6	106.03
Inventory	96.77	101.21	85.38	76.63	81.37	72.16
Prepaid Expenses	3.74	2.26	1.29	1.05	4.48	1.12
Restricted Cash	-	-	-	-	1.88	-
Other Current Assets	0.58	1.6	19.73	19.73	-	-
Total Current Assets	207.45	199.39	206.94	186.01	211.9	181.67
Property, Plant & Equipment	532.68	593.57	639.49	552.11	425.2	336.37
Long-Term Investments	-	-	-	-	-	0.04
Goodwill	5.15	0.51	8.53	8.53	8.53	8.53
Other Intangible Assets	3.51	3.9	2.49	3.79	5.11	5.85
Other Long-Term Assets	0.58	5.15	9.05	24.59	38.26	2.04
Total Assets	749.37	802.52	866.5	775.01	689	534.49
Accounts Payable	62.13	62.74	71.29	56.6	69.92	73.69
Accrued Expenses	5.8	5.88	11.01	12.76	14.4	8.56
Short-Term Debt	147.26	119.05	72.94	63.61	20.87	30.49
Current Portion of Long-Term Debt	-	-	49.6	79.06	47.67	40.82
Current Portion of Leases	3.85	5.75	8.71	9.32	7.72	5.86
Current Income Taxes Payable	1.21	0.51	0.89	0.09	0.68	-
Current Unearned Revenue	2.87	5.92	7.32	2.33	2.71	2.88
Other Current Liabilities	14.3	8.77	1.57	2.79	2.03	1.67
Total Current Liabilities	237.41	208.62	223.34	226.57	166.01	163.97
Long-Term Debt	140.07	160.31	156.81	140.96	164.23	96.96
Long-Term Leases	9.38	9.91	22.99	21.98	16.35	17.87
Long-Term Unearned Revenue	76.41	74.69	77.81	13.14	11.74	9.62
Pension & Post-Retirement Benefits	0.68	0.68	0.92	0.44	0.44	0.42
Long-Term Deferred Tax Liabilities	3.87	9.03	12.87	13.89	14.77	5.13
Other Long-Term Liabilities	0.51	0	0.44	0.49	0.1	0.02
Total Liabilities	468.33	463.23	495.18	417.47	373.63	293.99
Common Stock	201.01	201.01	201.01	169.12	120.34	120.36
Additional Paid-In Capital	0.84	-	0.84	0.78	0.66	-
Retained Earnings	20.64	-38.44	68.96	86.68	91.02	4.69
Comprehensive Income & Other	58.55	176.72	100.51	100.97	103.35	115.45
Total Common Equity	281.04	339.29	371.32	357.55	315.37	240.51
Minority Interest	-0.01	-0	-0	-0	-0	-0
Shareholders' Equity	281.04	339.29	371.32	357.54	315.37	240.51
Total Liabilities & Equity	749.37	802.52	866.5	775.01	689	534.49
Total Debt	300.56	295.02	311.06	314.92	256.84	191.99
Net Cash (Debt)	-278.89	-292.88	-309.21	-312.09	-253.27	-189.62
Net Cash Per Share	-	-0.15	-0.17	-0.23	-0.20	-0.18
Filing Date Shares Outstanding	-	2,010	2,010	1,691	1,203	1,032
Total Common Shares Outstanding	-	2,010	2,010	1,691	1,203	1,032
Working Capital	-29.96	-9.23	-16.41	-40.56	45.89	17.7
Book Value Per Share	-	0.17	0.18	0.21	0.26	0.23
Tangible Book Value	272.38	334.88	360.3	345.24	301.73	226.13
Tangible Book Value Per Share	-	0.17	0.18	0.20	0.25	0.22
Land	-	-	20.06	20.06	19.16	16.41
Buildings	-	-	177.39	144.5	110.9	95.97
Machinery	-	-	555.41	343.66	289.82	274.7
Construction In Progress	-	-	20.32	146.1	67.77	47.72

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