Alm. Brand Balance Sheet

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

Millions DKK. 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
Investments in Debt Securities	994	973	703	535	11,978
Investments in Equity & Preferred Securities	414	347	388	866	599
Other Investments	18,330	20,601	20,663	19,811	9,026
Total Investments	19,973	22,219	22,134	21,645	22,184
Cash & Equivalents	607	412	288	458	110
Reinsurance Recoverable	485	296	470	457	482
Other Receivables	705	755	1,063	861	350
Property, Plant & Equipment	624	748	844	914	132
Goodwill	7,331	7,331	7,736	7,736	-
Other Intangible Assets	1,850	2,126	2,603	3,028	43
Other Current Assets	447	1,548	431	491	18,934
Total Assets	32,022	35,435	35,569	35,590	42,235
Accrued Expenses	48	114	124	29	15
Insurance & Annuity Liabilities	16,084	15,410	17,064	16,633	815
Unpaid Claims	-	-	-	-	5,968
Unearned Premiums	-	-	-	-	1,128
Reinsurance Payable	-	-	-	-	15
Short-Term Debt	42	105	149	143	322
Current Income Taxes Payable	-	19	-	-	-
Long-Term Debt	1,047	1,445	1,444	1,444	1,445
Long-Term Leases	575	702	796	957	134
Long-Term Deferred Tax Liabilities	628	786	863	909	19
Other Current Liabilities	262	2,833	511	659	18,393
Other Long-Term Liabilities	955	603	659	959	262
Total Liabilities	19,654	22,032	21,625	21,745	28,529
Common Stock	1,453	1,541	1,541	1,541	1,541
Retained Earnings	10,518	11,465	12,006	11,907	12,165
Comprehensive Income & Other	397	397	397	397	-
Shareholders' Equity	12,368	13,403	13,944	13,845	13,706
Total Liabilities & Equity	32,022	35,435	35,569	35,590	42,235
Filing Date Shares Outstanding	1,412	1,504	1,539	1,541	1,541
Total Common Shares Outstanding	1,412	1,504	1,539	1,541	1,541
Total Debt	1,664	2,252	2,389	2,544	1,901
Net Cash (Debt)	-1,057	-1,840	-2,101	-2,086	-1,791
Net Cash Per Share	-0.72	-1.21	-1.36	-1.35	-7.08
Book Value Per Share	8.48	8.65	8.80	8.73	8.89
Tangible Book Value	3,187	3,946	3,605	3,081	13,663
Tangible Book Value Per Share	1.98	2.36	2.08	1.74	8.87
Machinery	-	-	-	-	31

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Insurance template. Financial Sources.