GSE Co., Ltd. Balance Sheet

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

Millions KRW. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Cash & Equivalents	2,450	7,144	4,645	9,099	7,301	1,778
Short-Term Investments	-	165.4	165.86	212.57	155	116.61
Trading Asset Securities	8,950	8,136	5,476	1,007	3,002	1,000
Cash & Short-Term Investments	11,400	15,446	10,286	10,319	10,457	2,895
Cash Growth	-6.79%	50.16%	-0.32%	-1.32%	261.26%	-15.47%
Accounts Receivable	-0	26,901	33,785	39,245	20,872	19,697
Other Receivables	-	8,359	4,745	745.38	6,913	7,725
Receivables	1,005	45,653	50,955	52,402	27,956	27,667
Inventory	148.64	165.49	173.29	175.13	209.85	187.19
Prepaid Expenses	48.35	45.61	43.96	36.45	67.88	109.01
Other Current Assets	11,096	1.3	3,300	535.73	312.97	556.02
Total Current Assets	23,698	61,311	64,759	63,468	39,004	31,414
Property, Plant & Equipment	145,390	145,404	142,532	139,123	138,853	132,481
Long-Term Investments	438.77	425.3	406.42	386.79	363.41	345.87
Other Intangible Assets	1,429	1,514	1,059	1,057	926.21	932.5
Other Long-Term Assets	29,034	29,267	178.2	178.2	178.3	193.3
Total Assets	210,367	238,382	209,399	204,667	179,710	165,691
Accounts Payable	-	35,915	38,822	43,018	28,866	26,425
Accrued Expenses	-	204.39	157.43	214.9	167.17	162.72
Short-Term Debt	32,000	34,500	8,500	8,000	8,149	8,849
Current Portion of Long-Term Debt	1,563	1,405	1,299	1,269	1,146	939.32
Current Portion of Leases	178.16	159.37	146.33	68.65	97.76	82.28
Current Income Taxes Payable	450.14	468.28	-	-	-	143.39
Current Unearned Revenue	89.61	81.87	77.74	1,195	-	-
Other Current Liabilities	12,924	4,217	3,074	2,055	2,532	2,558
Total Current Liabilities	47,206	76,951	52,077	55,820	40,959	39,161
Long-Term Debt	15,501	16,246	16,233	15,365	14,309	13,204
Long-Term Leases	223.56	230.68	274.15	77.61	105.67	117.2
Long-Term Unearned Revenue	40,998	41,321	38,947	36,774	32,833	31,622
Pension & Post-Retirement Benefits	4,180	4,361	3,191	2,651	3,894	3,453
Long-Term Deferred Tax Liabilities	4,536	4,663	5,864	5,117	4,174	5,732
Other Long-Term Liabilities	439.08	214.67	204.75	243.21	201.99	157.88
Total Liabilities	113,083	143,988	116,791	116,047	96,476	93,447
Common Stock	15,304	15,304	15,304	15,304	15,304	15,304
Additional Paid-In Capital	21,005	21,005	21,005	21,005	21,005	29,251
Retained Earnings	49,692	46,802	45,017	41,028	35,642	32,504
Treasury Stock	-	-	-	-	-	-16,098
Comprehensive Income & Other	11,283	11,283	11,283	11,283	11,283	11,283
Shareholders' Equity	97,284	94,394	92,609	88,620	83,233	72,244
Total Liabilities & Equity	210,367	238,382	209,399	204,667	179,710	165,691
Total Debt	49,466	52,541	26,452	24,780	23,808	23,192
Net Cash (Debt)	-38,066	-37,096	-16,166	-14,461	-13,350	-20,297
Net Cash Per Share	-1269.40	-1237.03	-539.09	-482.24	-471.86	-732.62
Filing Date Shares Outstanding	29.99	29.99	29.99	29.99	29.99	27.71
Total Common Shares Outstanding	29.99	29.99	29.99	29.99	29.99	27.71
Working Capital	-23,508	-15,640	12,682	7,648	-1,955	-7,747
Book Value Per Share	3244.14	3147.76	3088.23	2955.22	2775.59	2607.59
Tangible Book Value	95,855	92,880	91,550	87,563	82,307	71,312
Tangible Book Value Per Share	3196.49	3097.28	3052.92	2919.97	2744.70	2573.94
Land	-	4,546	4,546	4,546	6,591	6,556
Buildings	-	5,525	5,525	5,521	5,809	6,409
Machinery	-	231,796	219,278	210,377	198,053	185,938
Construction In Progress	-	4,347	4,774	1,948	3,564	1,959

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.