Orange Balance Sheet

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

Millions EUR. 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	12,167	8,766	5,618	6,004	8,621
Short-Term Investments	3,118	3,063	2,713	4,541	2,313
Cash & Short-Term Investments	15,285	11,829	8,331	10,545	10,934
Cash Growth	29.22%	41.99%	-21.00%	-3.56%	-4.12%
Accounts Receivable	5,165	5,838	6,013	6,305	6,029
Other Receivables	1,723	1,630	1,795	1,570	1,460
Total Trade Receivables	6,888	7,468	7,808	7,875	7,489
Inventory	743	791	1,152	1,048	952
Other Current Assets	5,982	5,607	7,950	7,336	6,458
Total Current Assets	28,898	25,695	25,241	26,803	25,834
Net Property, Plant & Equipment	39,134	37,517	41,368	39,576	38,186
Other Intangible Assets	12,510	12,456	15,098	14,946	14,940
Goodwill	20,758	21,100	23,775	23,113	24,192
Long-Term Investments	4,872	5,494	2,824	3,119	3,290
Other Long-Term Assets	1,245	1,611	1,746	2,095	1,629
Total Assets	107,415	103,874	110,052	109,650	108,071
Accounts Payable	6,375	6,448	7,042	7,067	6,738
Accrued Expenses	2,339	2,475	2,632	2,418	2,316
Short-Term Debt	4,538	6,033	5,451	4,702	3,421
Current Portion of Leases	1,433	1,374	1,469	1,509	1,369
Unearned Revenue	2,590	2,536	2,852	2,728	2,692
Other Current Liabilities	8,662	9,041	11,082	10,800	10,740
Total Current Liabilities	25,938	27,908	30,526	29,223	27,276
Long-Term Debt	33,457	28,993	30,608	32,012	31,922
Long-Term Leases	6,089	5,992	7,099	6,901	6,696
Other Long-Term Liabilities	8,777	5,820	6,720	6,557	6,816
Total Long-Term Liabilities	48,323	40,805	44,427	45,471	45,434
Total Liabilities	74,261	68,713	74,953	74,694	72,710
Common Stock	10,640	10,640	10,640	10,640	10,640
Additional Paid-in Capital	16,859	16,859	16,859	16,859	16,859
Accumulated Other Comprehensive Income	4,500	4,950	4,950	4,950	5,497
Retained Earnings	-2,261	-676	-625	-666	-656
Total Common Shareholders' Equity	29,739	31,773	31,825	31,784	32,341
Minority Interest	3,416	3,388	3,274	3,172	3,020
Shareholders' Equity	33,154	35,162	35,098	34,956	35,361
Total Liabilities & Equity	107,415	103,874	110,052	109,650	108,071
Total Debt	45,517	42,392	44,627	45,124	43,408
Net Cash (Debt)	-30,232	-30,563	-36,296	-34,579	-32,474
Net Cash Per Share	-11.36	-11.49	-13.64	-12.87	-12.22
Book Value	29,739	31,773	31,825	31,784	32,341
Book Value Per Share	11.18	11.95	11.96	11.83	12.17
Tangible Book Value	-3,529	-1,783	-7,048	-6,275	-6,791
Tangible Book Value Per Share	-1.33	-0.67	-2.65	-2.34	-2.56

Updated Dec 31, 2025. Data Source: Fiscal.ai. Standard template. Financial Sources.