Black Yak I&C Co.,Ltd Cash Flow Statement

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

Millions KRW. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024
Period Ending	Mar '26 Mar 31, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024
Net Income	-2,468	-5,734	6,979
Depreciation & Amortization	3,696	2,814	571.66
Loss (Gain) From Sale of Investments	-91.88	-91.88	46.43
Provision & Write-off of Bad Debts	3.77	3.77	35.19
Other Operating Activities	3,092	10,264	-365.5
Change in Accounts Receivable	-1,642	-2,501	-1,879
Change in Inventory	-1,942	201.37	-3,981
Change in Accounts Payable	2,913	-1,469	-1,405
Change in Other Net Operating Assets	-10,071	-8,215	823.81
Operating Cash Flow	-6,623	-4,729	826.07
Capital Expenditures	-607.34	-592.34	-
Sale of Property, Plant & Equipment	50.8	1.34	-
Cash Acquisitions	-34,458	-31,761	-
Sale (Purchase) of Intangibles	-	-3.38	-
Investment in Securities	10,000	12,237	-1,759
Other Investing Activities	0	40	-2
Investing Cash Flow	-25,189	-20,210	-1,761
Short-Term Debt Issued	-	63,969	-
Long-Term Debt Issued	-	36,000	-
Total Debt Issued	99,971	99,969	-
Short-Term Debt Repaid	-	-61,424	-
Long-Term Debt Repaid	-	-3,694	-474.99
Total Debt Repaid	-69,656	-65,118	-474.99
Net Debt Issued (Repaid)	30,314	34,850	-474.99
Issuance of Common Stock	-	-	3,850
Dividends Paid	-2,093	-2,093	-
Other Financing Activities	-98.16	-24.16	18.35
Financing Cash Flow	28,123	32,733	3,393
Miscellaneous Cash Flow Adjustments	-0	-0	0
Net Cash Flow	-3,688	7,795	2,458
Free Cash Flow	-7,230	-5,321	826.07
Free Cash Flow Margin	-10.79%	-9.29%	2.19%
Free Cash Flow Per Share	-283.29	-212.60	42.02
Cash Interest Paid	2,884	2,591	164.85
Cash Income Tax Paid	2,249	2,146	1,571
Levered Free Cash Flow	-5,080	1,934	-
Unlevered Free Cash Flow	-2,773	3,659	-
Change in Working Capital	-10,855	-11,985	-6,441