SES S.A. Balance Sheet

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

Millions EUR. 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	-	1,075	3,521	2,907	1,047	1,049
Trading Asset Securities	-	9	-	-	-	-
Cash & Short-Term Investments	1,084	1,084	3,521	2,907	1,047	1,049
Cash Growth	-69.21%	-69.21%	21.12%	177.65%	-0.19%	-9.72%
Accounts Receivable	-	659	484	406	487	379
Other Receivables	-	176	188	473	571	1,361
Receivables	-	835	672	879	1,058	1,740
Inventory	-	196	49	55	34	23
Prepaid Expenses	-	117	58	47	47	48
Other Current Assets	-	8	2	2	4	3
Total Current Assets	-	2,240	4,302	3,890	2,190	2,863
Property, Plant & Equipment	-	7,149	4,272	4,592	5,489	5,561
Long-Term Investments	-	204	34	-	-	-
Goodwill	-	1,808	143	140	1,738	1,520
Other Intangible Assets	-	965	751	780	2,502	2,224
Long-Term Accounts Receivable	-	104	107	87	111	121
Long-Term Deferred Tax Assets	-	644	701	671	499	568
Long-Term Deferred Charges	-	56	15	3	58	55
Other Long-Term Assets	-	200	2	21	20	26
Total Assets	-	13,370	10,327	10,184	12,607	12,938
Accounts Payable	-	131	58	60	81	91
Accrued Expenses	-	250	179	230	186	166
Current Portion of Long-Term Debt	-	798	273	716	719	57
Current Portion of Leases	-	76	19	16	15	11
Current Income Taxes Payable	-	18	15	130	22	154
Current Unearned Revenue	-	328	250	249	214	221
Other Current Liabilities	-	970	728	618	406	1,611
Total Current Liabilities	-	2,571	1,522	2,019	1,643	2,311
Long-Term Debt	-	5,507	4,247	3,443	3,629	3,524
Long-Term Leases	-	559	32	23	30	22
Long-Term Unearned Revenue	-	522	361	384	429	436
Pension & Post-Retirement Benefits	-	48	14	13	15	17
Long-Term Deferred Tax Liabilities	-	455	212	205	434	399
Other Long-Term Liabilities	-	994	447	339	769	496
Total Liabilities	-	10,656	6,835	6,426	6,949	7,205
Common Stock	-	696	696	696	696	719
Additional Paid-In Capital	-	1,564	1,564	1,564	1,564	1,636
Retained Earnings	-	29	139	-732	180	706
Treasury Stock	-	-181	-198	-	-80	-189
Comprehensive Income & Other	-	515	1,222	2,173	3,236	2,798
Total Common Equity	2,623	2,623	3,423	3,701	5,596	5,670
Minority Interest	-	91	69	57	62	63
Shareholders' Equity	2,714	2,714	3,492	3,758	5,658	5,733
Total Liabilities & Equity	-	13,370	10,327	10,184	12,607	12,938
Total Debt	6,940	6,940	4,571	4,198	4,393	3,614
Net Cash (Debt)	-5,856	-5,856	-1,050	-1,291	-3,346	-2,565
Net Cash Per Share	-13.97	-14.15	-2.45	-2.94	-7.63	-5.72
Filing Date Shares Outstanding	419.24	419.24	417.9	436.13	439.18	440.4
Total Common Shares Outstanding	419.24	419.24	417.9	436.13	439.18	440.4
Working Capital	-	-331	2,780	1,871	547	552
Book Value Per Share	5.00	5.00	6.78	7.05	10.07	10.21
Tangible Book Value	-150	-150	2,529	2,781	1,356	1,926
Tangible Book Value Per Share	-1.61	-1.61	4.64	4.94	0.41	1.71
Land	-	511	269	232	251	247
Machinery	-	263	264	298	310	274
Construction In Progress	-	1,750	1,348	1,550	1,859	1,788
Order Backlog	-	6,600	4,800	-	5,900	5,800

Source: S&P Global Market Intelligence. Standard template. Financial Sources.