BVMF:BBSE3 Cash Flow Statement

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

Millions BRL. 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
Net Income	9,192	9,017	8,703	7,947	6,196	3,933
Depreciation & Amortization	0.18	0.39	1.27	1.3	1.29	1.07
Other Amortization	1.18	0.94	-	-	-	-
Loss (Gain) From Sale of Investments	-261.5	-253.28	-172.64	-150.06	-3.2	-6.31
Loss (Gain) on Equity Investments	-5,464	-5,341	-5,312	-4,890	-3,516	-1,830
Other Operating Activities	1,719	1,733	1,636	93.77	24.83	0.98
Change in Accounts Receivable	-59.17	-66.56	-499.44	-351.73	-98.65	92.49
Change in Unearned Revenue	132.85	196.85	1,331	1,140	580.99	422.42
Change in Income Taxes	-1,632	-1,605	-1,410	-65.13	218.16	90.29
Change in Other Net Operating Assets	3.81	27.64	-46.1	-24.25	-125.16	130.98
Operating Cash Flow	3,633	3,711	4,224	3,698	3,275	2,826
Operating Cash Flow Growth	-8.47%	-12.14%	14.22%	12.91%	15.90%	23.68%
Capital Expenditures	-0.06	-0.06	-0.11	-0.41	-	-0.29
Sale of Property, Plant & Equipment	-	-	-	-	0.08	-
Sale (Purchase) of Intangibles	-226.68	-	-	-	-	-
Investment in Securities	913.63	0.04	-	-1,086	-347.65	-60.77
Other Investing Activities	5,673	5,628	5,174	3,650	2,984	1,121
Investing Cash Flow	6,360	5,628	5,174	2,564	2,637	1,060
Repurchase of Common Stock	-	-	-1,167	-624.28	-	-
Common Dividends Paid	-8,830	-8,274	-5,193	-6,961	-3,926	-1,991
Financing Cash Flow	-8,830	-8,274	-6,360	-7,585	-3,926	-1,991
Net Cash Flow	1,163	1,065	3,037	-1,324	1,986	1,895
Free Cash Flow	3,633	3,711	4,223	3,697	3,275	2,825
Free Cash Flow Growth	-8.47%	-12.14%	14.23%	12.90%	15.91%	23.69%
Free Cash Flow Margin	34.68%	35.90%	41.49%	39.69%	42.77%	53.05%
Free Cash Flow Per Share	1.87	1.91	2.16	1.85	1.64	1.42
Cash Income Tax Paid	-	-	-	934.78	793.45	698.97
Levered Free Cash Flow	6,029	6,860	8,698	4,510	6,914	4,389
Unlevered Free Cash Flow	6,031	6,861	8,699	4,511	6,915	4,389
Change in Working Capital	-1,555	-1,447	-632.29	696.08	571.29	727.15

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