BVMF:VAMO3 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	325.42	152.94	97.77	84.5	153.16
Short-Term Investments	4,393	2,635	2,196	1,639	3,672
Cash & Short-Term Investments	4,718	2,788	2,294	1,723	3,825
Cash Growth	69.21%	21.54%	33.14%	-54.95%	390.81%
Accounts Receivable	667.58	540.23	982.81	1,155	526.49
Other Receivables	325.29	243.81	502.5	276.04	106.08
Receivables	992.87	784.03	1,485	1,431	632.56
Inventory	130.59	103.89	1,651	763.58	332.52
Prepaid Expenses	15.48	13.53	18.02	25.72	15.07
Other Current Assets	574.21	454.83	509.93	246.35	63.27
Total Current Assets	6,431	4,145	5,958	4,190	4,868
Property, Plant & Equipment	15,995	15,670	13,382	12,002	4,991
Long-Term Investments	10.08	-	10.95	19.16	7.11
Goodwill	123.88	123.88	197.33	173.2	137.33
Other Intangible Assets	53.08	55.91	308.98	75.25	65.53
Long-Term Accounts Receivable	23.21	32.46	55.51	35.87	25.18
Long-Term Deferred Tax Assets	68.13	60.79	177.6	38.78	19.05
Other Long-Term Assets	259.77	189.83	719.02	140.67	72.02
Total Assets	22,965	20,277	20,809	16,675	10,186
Accounts Payable	696.8	650.29	1,044	2,715	631.34
Accrued Expenses	100.07	59.32	112.14	122.2	48.53
Short-Term Debt	-	-	124.26	197.59	137.4
Current Portion of Long-Term Debt	1,670	942.38	854.73	545.38	206.59
Current Portion of Leases	20.68	14.92	26.89	14.56	10.27
Current Income Taxes Payable	-	-	3.9	5.43	10.08
Other Current Liabilities	1,065	1,062	1,247	725.62	145.51
Total Current Liabilities	3,553	2,729	3,413	4,326	1,190
Long-Term Debt	15,079	13,562	10,750	7,126	5,946
Long-Term Leases	70.87	74.15	154.43	76.54	60.64
Long-Term Deferred Tax Liabilities	973.95	862.04	397.08	327.08	263.39
Other Long-Term Liabilities	726.06	607.05	1,359	1,181	85.46
Total Liabilities	20,403	17,835	16,074	13,037	7,545
Common Stock	1,013	1,013	2,143	1,274	632.95
Additional Paid-In Capital	-	-	-	1,838	1,838
Retained Earnings	154.82	-23.88	865.14	628.18	243.16
Treasury Stock	-174.92	-112.86	-11.89	-12	-11.51
Comprehensive Income & Other	1,569	1,566	1,739	-89.68	-62.41
Shareholders' Equity	2,562	2,442	4,735	3,639	2,640
Total Liabilities & Equity	22,965	20,277	20,809	16,675	10,186
Total Debt	16,840	14,594	11,911	7,960	6,361
Net Cash (Debt)	-12,122	-11,805	-9,617	-6,237	-2,536
Net Cash Per Share	-11.47	-10.86	-9.10	-2.37	-2.79
Filing Date Shares Outstanding	1,066	1,069	1,096	1,017	968.99
Total Common Shares Outstanding	1,066	1,069	1,096	1,017	968.99
Working Capital	2,878	1,415	2,545	-135.7	3,679
Book Value Per Share	2.40	2.29	4.32	3.58	2.72
Tangible Book Value	2,385	2,263	4,229	3,390	2,437
Tangible Book Value Per Share	2.24	2.12	3.86	3.33	2.52
Land	-	-	51.98	40.43	40.43
Buildings	8.35	8.37	44.26	23.92	22.32
Machinery	18,425	17,537	14,188	12,619	5,371
Leasehold Improvements	58.75	56.79	68.19	54.14	34.01

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