Ser Educacional Balance Sheet

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
Cash & Equivalents	527.62	261.93	370.73	215.27	180.76	213.7
Trading Asset Securities	-	-	-	53.62	52.53	20.98
Cash & Short-Term Investments	527.62	261.93	370.73	268.88	233.29	234.69
Cash Growth	66.47%	-29.35%	37.88%	15.26%	-0.59%	-65.50%
Accounts Receivable	564.08	564.17	545.05	520.05	438.74	383.03
Other Receivables	43.81	68.42	61.96	52.24	58.29	16.73
Receivables	607.89	632.58	607.02	572.29	497.03	399.76
Restricted Cash	62.98	18.88	7.62	7.94	6.93	-
Other Current Assets	40.93	2.09	0.78	25.41	15.38	82.76
Total Current Assets	1,239	915.48	986.13	874.53	752.64	717.2
Property, Plant & Equipment	970.05	1,005	1,091	1,195	1,081	1,008
Long-Term Investments	0.83	0.83	0.76	1.47	0.54	-
Goodwill	591.91	591.92	591.94	607.22	607.08	513.33
Other Intangible Assets	536.35	538.64	566.66	584.57	596.9	545.92
Long-Term Accounts Receivable	57.33	32.78	23.57	1.49	73.33	79.21
Long-Term Deferred Tax Assets	24.48	24.14	22.76	23.71	21.62	18.49
Other Long-Term Assets	147.58	190.75	173.75	201.34	259.11	210.24
Total Assets	3,568	3,299	3,456	3,489	3,392	3,093
Accounts Payable	35.36	28.71	41.8	40.67	32.26	34.07
Accrued Expenses	163.35	152.42	145.06	150.4	126.2	111.05
Current Portion of Long-Term Debt	263.38	251.67	292.48	241.16	191.55	201.31
Current Portion of Leases	82.08	81.27	66.51	68.52	66.91	70.36
Current Income Taxes Payable	5.62	1.87	1.82	3.24	6.11	3.35
Other Current Liabilities	245.49	209.32	183.19	152.43	129.21	98.6
Total Current Liabilities	795.28	725.25	730.86	656.43	552.23	518.74
Long-Term Debt	656.94	464.77	671.85	613.39	574.19	234.31
Long-Term Leases	635.39	666.03	718	777.28	639.02	557.05
Other Long-Term Liabilities	62.75	100.16	126.91	232.34	389.11	319.42
Total Liabilities	2,150	1,956	2,248	2,279	2,155	1,630
Common Stock	991.64	991.64	991.64	991.64	987.55	991.64
Retained Earnings	433.79	357.89	224.17	225.34	253.38	475.53
Treasury Stock	-4.82	-7.03	-13.35	-3.4	-3.4	-
Comprehensive Income & Other	-3.02	0.35	5.99	-4.09	-	-4.09
Shareholders' Equity	1,418	1,343	1,208	1,209	1,238	1,463
Total Liabilities & Equity	3,568	3,299	3,456	3,489	3,392	3,093
Total Debt	1,638	1,464	1,749	1,700	1,472	1,063
Net Cash (Debt)	-1,110	-1,202	-1,378	-1,431	-1,238	-828.34
Net Cash Per Share	-8.70	-9.44	-10.81	-11.15	-9.64	-6.44
Filing Date Shares Outstanding	127.96	127.61	126.62	128.33	128.33	128.72
Total Common Shares Outstanding	127.96	127.61	126.62	128.33	128.33	128.72
Working Capital	444.14	190.23	255.27	218.1	200.41	198.46
Book Value Per Share	11.08	10.52	9.54	9.42	9.64	11.37
Tangible Book Value	289.33	212.3	49.87	17.7	33.56	403.83
Tangible Book Value Per Share	2.26	1.66	0.39	0.14	0.26	3.14
Land	25.26	25.26	-	-	25.26	-
Buildings	529.22	534.03	-	-	486.1	-
Machinery	518.13	512.83	-	-	437.55	-
Construction In Progress	3.87	3.87	-	-	1.27	-