Aradel Holdings Balance Sheet

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

Millions NGN. 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	1,600,355	1,504,676	411,801	183,009	60,709	12,808
Cash & Short-Term Investments	1,600,355	1,504,676	411,801	183,009	60,709	12,808
Cash Growth	298.36%	265.39%	125.02%	201.45%	373.99%	150.76%
Accounts Receivable	1,056,455	919,863	67,019	51,432	17,538	4,859
Other Receivables	-	810,817	1,734	2,091	233.07	84.62
Receivables	1,056,455	1,730,680	68,753	53,523	31,543	18,617
Inventory	89,366	82,898	46,902	15,973	9,371	4,954
Prepaid Expenses	95,059	44,653	332.98	82.61	99.32	205.01
Restricted Cash	22,866	23,675	10,405	11,610	-	-
Other Current Assets	4,335	5,213	496.05	312.8	352.06	-
Total Current Assets	2,868,436	3,391,796	538,691	264,510	102,074	36,584
Property, Plant & Equipment	4,964,206	5,163,222	676,637	383,428	223,695	195,809
Long-Term Investments	31,523	25,423	533,257	274,285	134,385	118,844
Other Intangible Assets	25,061	26,537	1,251	1,212	467.55	779.67
Long-Term Deferred Tax Assets	786,138	891,456	-	-	12,760	25,417
Other Long-Term Assets	383,983	397,705	-	-	-	-
Total Assets	9,059,346	9,896,139	1,749,836	923,435	473,382	377,433
Accounts Payable	854,098	792,013	37,041	19,827	8,622	7,379
Accrued Expenses	129,456	152,165	61,231	27,719	11,293	6,745
Short-Term Debt	-	153.75	31,327	-	-	-
Current Portion of Long-Term Debt	148,730	438,767	24,128	17,622	17,725	7,666
Current Portion of Leases	3,036	31,882	-	-	-	-
Current Income Taxes Payable	315,723	288,521	35,402	14,422	4,510	2,705
Current Unearned Revenue	7,623	870.04	2,780	1,772	-	-
Other Current Liabilities	2,507,758	2,873,381	22,581	9,531	3,953	3,010
Total Current Liabilities	3,966,425	4,577,752	214,489	90,892	46,104	27,506
Long-Term Debt	1,630,712	1,564,486	40,945	44,350	36,023	13,544
Pension & Post-Retirement Benefits	32,927	36,706	-	-	-	-
Long-Term Deferred Tax Liabilities	66,719	57,924	53,352	18,386	-	-
Other Long-Term Liabilities	1,468,194	1,510,994	36,940	65,161	64,490	45,149
Total Liabilities	7,164,976	7,747,863	345,726	218,790	146,616	86,199
Common Stock	2,172	2,172	2,172	2,172	2,172	2,172
Additional Paid-In Capital	22,820	22,820	22,820	22,820	22,820	22,820
Retained Earnings	1,076,725	1,010,514	395,210	209,029	170,403	160,420
Comprehensive Income & Other	245,781	454,791	975,248	464,878	129,767	104,339
Total Common Equity	1,347,498	1,490,297	1,395,451	698,899	325,162	289,751
Minority Interest	546,872	657,979	8,659	5,745	1,604	1,483
Shareholders' Equity	1,894,370	2,148,276	1,404,110	704,645	326,766	291,234
Total Liabilities & Equity	9,059,346	9,896,139	1,749,836	923,435	473,382	377,433
Total Debt	1,782,478	2,035,289	96,399	61,972	53,748	21,210
Net Cash (Debt)	-182,123	-530,613	315,402	121,037	6,961	-8,402
Net Cash Growth	-	-	160.58%	1638.78%	-	-
Net Cash Per Share	-41.92	-122.12	72.59	27.86	1.60	-1.93
Filing Date Shares Outstanding	4,345	4,345	4,345	4,345	4,345	4,345
Total Common Shares Outstanding	4,345	4,345	4,345	4,345	4,345	4,345
Working Capital	-1,097,989	-1,185,956	324,202	173,618	55,971	9,078
Book Value Per Share	310.14	343.00	321.17	160.86	74.84	66.69
Tangible Book Value	1,322,438	1,463,761	1,394,200	697,687	324,694	288,971
Tangible Book Value Per Share	304.37	336.90	320.89	160.58	74.73	66.51
Land	-	16,883	5,216	3,055	569	569
Buildings	-	471,935	5,855	3,425	976.75	976.75
Machinery	-	41,499	23,567	12,402	5,902	5,231