GSD Holding A.S. Balance Sheet

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

Millions TRY. 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	2,939	3,981	1,994	1,580	1,501	588.21
Short-Term Investments	-	-	10.88	81.17	88.21	-
Trading Asset Securities	3,260	2,957	3,044	2,027	2,081	416.92
Cash & Short-Term Investments	6,199	6,937	5,049	3,687	3,671	1,005
Cash Growth	56.40%	37.41%	36.91%	0.46%	265.20%	48.37%
Accounts Receivable	3,698	2,817	2,922	2,414	3,339	1,136
Other Receivables	43.58	29.52	33.08	9.16	3.94	0.61
Receivables	3,742	2,847	2,955	2,423	3,343	1,137
Inventory	42.33	43.23	14.41	17.27	13.87	4.51
Prepaid Expenses	182.26	127.19	79.13	66.75	33.54	8.68
Other Current Assets	22.43	24.33	49.7	21.93	38.83	16.12
Total Current Assets	10,188	9,979	8,147	6,216	7,100	2,171
Property, Plant & Equipment	10,961	9,736	6,607	6,833	3,790	1,642
Long-Term Investments	12.79	11.63	8.88	8.88	6.15	12.73
Other Intangible Assets	9.52	8.9	6.14	4.76	3.08	0.86
Long-Term Accounts Receivable	857.85	805.25	180.3	1.11	5.96	338.3
Long-Term Deferred Tax Assets	-	-	13.18	2.82	5.52	3.29
Other Long-Term Assets	0.27	0.62	0.31	0.07	0.07	0.02
Total Assets	22,029	20,541	14,963	13,067	10,911	4,168
Accounts Payable	85.42	83.79	81.46	52.59	46.04	8.23
Accrued Expenses	43.11	78.34	79.6	46.79	26.43	6.51
Short-Term Debt	2,377	1,574	1,816	1,460	1,453	337.8
Current Portion of Long-Term Debt	597.66	590.25	373.5	194.93	129.03	113.78
Current Portion of Leases	27.1	20.44	14.61	7.39	7.05	1.97
Current Income Taxes Payable	52.39	54.79	108.55	73.67	77.08	69.43
Current Unearned Revenue	68.36	67.19	22.3	43.11	51.37	16.14
Other Current Liabilities	72.17	61.56	52.98	29.8	54.38	19.14
Total Current Liabilities	3,323	2,530	2,549	1,909	1,845	573.01
Long-Term Debt	4,598	4,608	2,159	886.6	783.18	622.05
Long-Term Leases	-	-	0.15	2.23	4.31	1.19
Pension & Post-Retirement Benefits	31.67	25.73	17.27	8.03	21.34	5.78
Long-Term Deferred Tax Liabilities	56.55	32.41	5.13	45.78	60.04	8.11
Total Liabilities	8,010	7,196	4,731	2,851	2,713	1,210
Common Stock	1,000	1,000	1,000	1,000	1,000	450
Additional Paid-In Capital	701.61	637.58	487.11	487.11	337.38	84.59
Retained Earnings	-1,571	-1,063	-3,441	-3,959	-954.36	1,391
Treasury Stock	-2,732	-2,482	-1,853	-1,853	-1,283	-39.71
Comprehensive Income & Other	15,721	14,395	13,333	13,761	8,641	870.75
Total Common Equity	13,121	12,487	9,526	9,437	7,741	2,757
Minority Interest	898.41	857.74	706.57	779.43	456.19	201.45
Shareholders' Equity	14,019	13,345	10,233	10,216	8,197	2,958
Total Liabilities & Equity	22,029	20,541	14,963	13,067	10,911	4,168
Total Debt	7,600	6,792	4,363	2,552	2,377	1,077
Net Cash (Debt)	-1,401	144.8	685.36	1,136	1,294	-71.67
Net Cash Growth	-	-78.87%	-39.67%	-12.21%	-	-
Net Cash Per Share	-	-	0.76	1.26	2.84	-0.08
Filing Date Shares Outstanding	-	-	900	999	455.42	-
Total Common Shares Outstanding	-	-	900	999	455.42	-
Working Capital	6,865	7,449	5,598	4,308	5,255	1,598
Book Value Per Share	-	-	10.58	9.45	17.00	-
Tangible Book Value	13,111	12,478	9,520	9,432	7,738	2,756
Tangible Book Value Per Share	-	-	10.58	9.44	16.99	-
Buildings	-	-	0.06	0.06	0.04	0
Machinery	-	-	7,051	8,626	4,683	1,989
Construction In Progress	-	-	1,147	278.48	520.81	161.28
Leasehold Improvements	-	-	-	-	16.16	2.32