Nordic Aqua Partners 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	4.7	11.51	18.04	22.42	12.51	37.3
Cash & Short-Term Investments	4.7	11.51	18.04	22.42	12.51	37.3
Cash Growth	-53.20%	-36.24%	-19.53%	79.17%	-66.45%	-30.52%
Accounts Receivable	2.14	0.41	0.17	-	-	-
Other Receivables	6.94	6.56	4.74	5.08	0.56	0.79
Receivables	9.09	6.98	4.91	5.08	0.56	0.79
Inventory	36.09	26.59	16.96	9.64	0.73	-
Other Current Assets	-	-	-	-	0	-
Total Current Assets	49.88	45.07	39.92	37.14	13.8	38.09
Property, Plant & Equipment	128.06	125.51	109.43	62.35	36.61	15.12
Long-Term Deferred Tax Assets	7.56	7.38	3.09	-	-	-
Other Long-Term Assets	1.26	1.22	5.91	2.09	1.36	1.38
Total Assets	186.76	179.17	158.35	101.59	51.77	54.6
Accounts Payable	4.14	10.86	7.08	2.39	3.3	0.9
Current Portion of Long-Term Debt	2.02	11.34	4.86	-	-	-
Current Portion of Leases	0.41	0.4	0.41	0.21	-	-
Other Current Liabilities	0.42	0.55	0.95	1.12	0.23	0.11
Total Current Liabilities	6.98	23.14	13.3	3.72	3.53	1.01
Long-Term Debt	34.25	18.23	21.78	15.02	-	-
Long-Term Leases	33.69	32.59	35.79	9.5	-	-
Long-Term Deferred Tax Liabilities	1.88	0.97	0.6	-	-	-
Other Long-Term Liabilities	-	-	-0	-	-	-
Total Liabilities	76.81	74.93	71.47	28.24	3.53	1.01
Common Stock	1.84	1.84	1.84	1.43	1.38	1.38
Additional Paid-In Capital	123.25	123.25	123.25	93.89	59.32	-
Retained Earnings	-54.12	-56.33	-40.01	-22.58	-14.36	50.54
Comprehensive Income & Other	22.56	20.3	1.8	0.62	1.9	1.67
Total Common Equity	93.52	89.05	86.88	73.35	48.25	53.59
Minority Interest	16.43	15.19	-	-	-	-
Shareholders' Equity	109.95	104.24	86.88	73.35	48.25	53.59
Total Liabilities & Equity	186.76	179.17	158.35	101.59	51.77	54.6
Total Debt	70.37	62.56	62.83	24.72	-	-
Net Cash (Debt)	-65.67	-51.06	-44.79	-2.3	12.51	37.3
Net Cash Growth	-	-	-	-	-66.45%	-30.52%
Net Cash Per Share	-3.07	-2.40	-2.60	-0.16	1.22	3.63
Filing Date Shares Outstanding	21.21	21.21	21.21	16.33	14.9	10.28
Total Common Shares Outstanding	21.21	21.21	21.21	16.33	10.28	10.28
Working Capital	42.9	21.93	26.62	33.42	10.28	37.08
Book Value Per Share	4.41	4.20	4.10	4.49	4.69	5.21
Tangible Book Value	93.52	89.05	86.88	73.35	48.25	53.59
Tangible Book Value Per Share	4.41	4.20	4.10	4.49	4.69	5.21
Machinery	64.3	61.43	63.76	22.51	0.8	0.2
Construction In Progress	40.47	39.89	13.51	31.16	35.91	14.95