BVMF:BVAR11 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
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022
Cash & Equivalents	2.11	3.28	4.54	8.5
Accounts Receivable	3.76	6.44	9.56	8.47
Other Receivables	112.66	6.09	21.4	1.75
Other Long-Term Assets	369.33	498	548.93	655.35
Total Assets	487.87	513.81	584.43	674.08
Accounts Payable	0.12	0.03	0.14	0.13
Accrued Expenses	0.09	0.09	0.08	7.53
Current Unearned Revenue	0.15	0.38	-	-
Other Current Liabilities	0.16	0.29	0.49	0.1
Other Long-Term Liabilities	1.03	2.81	2.99	0.68
Total Liabilities	1.55	3.6	3.7	8.43
Common Stock	38.17	42.88	47.68	52.37
Retained Earnings	155.71	12.27	29.6	12.85
Comprehensive Income & Other	292.44	455.06	503.45	600.44
Shareholders' Equity	486.32	510.21	580.73	665.65
Total Liabilities & Equity	487.87	513.81	584.43	674.08
Net Cash (Debt)	2.11	3.28	4.54	8.5
Net Cash (Debt) Growth	-35.58%	-27.72%	-46.64%	-
Net Cash Per Share	3.38	5.24	7.25	13.59
Filing Date Shares Outstanding	0.63	0.63	0.63	0.63
Total Common Shares Outstanding	0.63	0.63	0.63	0.63
Book Value Per Share	777.44	815.63	928.36	1064.13
Tangible Book Value	486.32	510.21	580.73	665.65
Tangible Book Value Per Share	777.44	815.63	928.36	1064.13