Orange Balance Sheet

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

Millions EUR. Fiscal year is Jan - Dec.

Assets

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun '26 Jun 30, 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	9,305	12,167	8,766	5,618	6,004	8,621
Short-Term Investments	338	50	3,406	5,897	7,283	4,694
Trading Asset Securities	1,817	3,080	109	37	112	7
Cash & Short-Term Investments	11,460	15,297	12,281	11,552	13,399	13,322
Cash Growth	7.06%	24.56%	6.31%	-13.79%	0.58%	-2.34%
Accounts Receivable	7,893	6,888	7,468	7,808	7,875	7,489
Other Receivables	1,630	1,500	1,449	1,473	1,414	1,344
Receivables	9,523	8,388	8,917	9,281	9,289	8,833
Inventory	956	743	791	1,152	1,048	952
Prepaid Expenses	1,783	682	507	68	72	240
Other Current Assets	4,153	3,788	3,199	3,188	2,995	2,487
Total Current Assets	27,875	28,898	25,695	25,241	26,803	25,834
Property, Plant & Equipment	45,256	39,134	37,517	41,368	39,576	38,186
Long-Term Investments	3,862	5,319	6,306	3,780	4,577	3,914
Goodwill	28,954	20,758	21,100	23,775	23,113	24,192
Other Intangible Assets	19,453	12,510	12,456	15,098	14,946	14,940
Long-Term Deferred Tax Assets	717	552	522	598	421	692
Other Long-Term Assets	279	244	278	192	214	313
Total Assets	126,396	107,415	103,874	110,052	109,650	108,071

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun '26 Jun 30, 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
Accounts Payable	9,055	6,375	6,448	7,042	7,067	6,738
Accrued Expenses	4,944	3,880	3,919	4,115	3,823	3,752
Short-Term Debt	1,678	1,283	1,346	1,481	1,254	1,799
Current Portion of Long-Term Debt	3,658	3,317	4,742	4,010	3,499	1,746
Current Portion of Leases	1,653	1,433	1,374	1,469	1,509	1,369
Current Income Taxes Payable	477	576	555	460	538	425
Current Unearned Revenue	3,127	2,590	2,536	2,852	2,728	2,692
Other Current Liabilities	7,570	6,484	6,988	9,097	8,805	8,755
Total Current Liabilities	32,162	25,938	27,908	30,526	29,223	27,276
Long-Term Debt	42,556	33,658	29,212	30,760	32,327	32,142
Long-Term Leases	7,206	6,089	5,992	7,099	6,901	6,696
Pension & Post-Retirement Benefits	2,856	3,424	2,274	2,551	2,567	2,798
Long-Term Deferred Tax Liabilities	1,483	1,023	1,032	1,143	1,124	1,185
Other Long-Term Liabilities	4,988	4,128	2,295	2,874	2,552	2,613
Total Liabilities	91,251	74,260	68,713	74,953	74,694	72,710

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun '26 Jun 30, 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
Common Stock	10,640	10,640	10,640	10,640	10,640	10,640
Additional Paid-In Capital	16,859	16,859	16,859	16,859	16,859	16,859
Retained Earnings	582	-1,020	402	61	-313	-399
Comprehensive Income & Other	3,743	3,260	3,872	4,265	4,598	5,241
Total Common Equity	31,824	29,739	31,773	31,825	31,784	32,341
Minority Interest	3,321	3,416	3,388	3,274	3,172	3,020
Shareholders' Equity	35,145	33,155	35,161	35,099	34,956	35,361
Total Liabilities & Equity	126,396	107,415	103,874	110,052	109,650	108,071

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun '26 Jun 30, 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
Total Debt	56,751	45,780	42,666	44,819	45,490	43,752
Net Cash (Debt)	-45,291	-30,483	-30,385	-33,267	-32,091	-30,430
Net Cash Growth	-	-	-	-	-	-
Net Cash Per Share	-15.12	-11.46	-11.42	-12.50	-11.94	-11.45
Filing Date Shares Outstanding	2,658	2,659	2,658	2,658	2,658	2,658
Total Common Shares Outstanding	2,658	2,659	2,658	2,658	2,658	2,658
Working Capital	-4,287	2,960	-2,213	-5,285	-2,420	-1,442
Book Value Per Share	11.97	11.19	11.95	11.97	11.96	12.17
Tangible Book Value	-16,583	-3,529	-1,783	-7,048	-6,275	-6,791
Tangible Book Value Per Share	-6.24	-1.33	-0.67	-2.65	-2.36	-2.55
Land	-	7,991	-	-	-	-
Machinery	-	3,255	-	-	-	-