Azzas 2154 Balance Sheet

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

Millions BRL. 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
Cash & Equivalents	320.6	181.16	73.32	28.83	33.75
Short-Term Investments	760.7	-	-	-	-
Trading Asset Securities	-	593.38	465.53	332.73	121.73
Cash & Short-Term Investments	1,081	774.54	538.85	361.56	155.48
Cash Growth	39.61%	43.74%	49.04%	132.54%	-72.29%
Accounts Receivable	2,714	2,816	1,125	867.58	790.3
Other Receivables	968.6	886.07	265.61	267.37	142.08
Receivables	3,683	3,702	1,391	1,135	932.38
Inventory	2,143	2,219	774.28	772.06	450.49
Other Current Assets	17.6	135.97	210.87	114.88	108.44
Total Current Assets	6,925	6,832	2,915	2,383	1,647
Property, Plant & Equipment	2,116	2,309	890.93	691.58	403.87
Long-Term Investments	33.3	1.03	-	-	0.4
Goodwill	-	1,336	851.22	737.66	560.9
Other Intangible Assets	3,487	2,406	710.69	525.76	454.02
Long-Term Accounts Receivable	10	11.46	3.24	0.33	4.28
Long-Term Deferred Tax Assets	1,655	1,052	193.08	119.27	90.23
Other Long-Term Assets	1,222	1,307	411.7	201.23	205.85
Total Assets	15,449	15,254	5,976	4,659	3,366
Accounts Payable	1,687	1,818	834.46	671.66	574.71
Accrued Expenses	330.5	638.35	246.7	204.89	156.1
Short-Term Debt	-	361.32	112.95	-	-
Current Portion of Long-Term Debt	1,031	1,115	769.26	392.25	496.86
Current Portion of Leases	213.2	213.15	107.67	89.65	57.02
Current Income Taxes Payable	201.1	-	2.67	14.3	22.41
Current Unearned Revenue	1.3	1.3	1.3	-	-
Other Current Liabilities	301.1	369.96	217.28	262.61	211.9
Total Current Liabilities	3,766	4,517	2,292	1,635	1,519
Long-Term Debt	2,196	1,178	198.92	9.62	37.73
Long-Term Leases	556.8	662.53	407.51	284.89	174.88
Long-Term Unearned Revenue	2.5	3.79	5.09	-	0.05
Long-Term Deferred Tax Liabilities	222.4	245.62	-	3.42	5.44
Other Long-Term Liabilities	728.6	924.76	143	71.38	37.21
Total Liabilities	7,471	7,532	3,047	2,005	1,774
Common Stock	2,317	2,317	1,738	1,672	811.28
Retained Earnings	1,574	1,163	999.6	814.4	591.48
Treasury Stock	-161.7	-1.24	-9.92	-0.05	-3.11
Comprehensive Income & Other	4,248	4,224	181.65	167.73	190.92
Total Common Equity	7,977	7,703	2,910	2,654	1,591
Minority Interest	-	18.86	19.55	0.8	1.43
Shareholders' Equity	7,977	7,722	2,929	2,655	1,592
Total Liabilities & Equity	15,449	15,254	5,976	4,659	3,366
Total Debt	3,997	3,530	1,596	776.41	766.49
Net Cash (Debt)	-2,915	-2,756	-1,057	-414.86	-611.01
Net Cash Per Share	-14.45	-20.67	-9.30	-3.67	-6.01
Filing Date Shares Outstanding	201.71	206.47	110.83	110.2	99.59
Total Common Shares Outstanding	201.71	206.47	110.83	110.2	99.59
Working Capital	3,159	2,315	622.77	748.09	127.79
Book Value Per Share	39.55	37.31	26.25	24.08	15.97
Tangible Book Value	4,490	3,961	1,348	1,390	575.66
Tangible Book Value Per Share	22.26	19.19	12.16	12.62	5.78
Land	-	127.17	-	-	-
Machinery	-	719.1	294.95	222.82	-

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