AS MADARA Cosmetics Balance Sheet

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

Millions EUR. 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
Cash & Equivalents	5.66	8.6	5.49	5.95	6.6
Cash & Short-Term Investments	5.66	8.6	5.49	5.95	6.6
Cash Growth	-34.19%	56.76%	-7.80%	-9.84%	16.89%
Accounts Receivable	2.91	1.8	1.68	1.39	1.49
Other Receivables	0.14	0.13	0.15	0.18	0.01
Receivables	3.06	2.62	1.82	1.57	1.68
Inventory	4.69	4.85	4.48	4.24	4.33
Other Current Assets	0.23	0.1	0.13	0.06	-
Total Current Assets	13.64	16.17	11.93	11.81	12.61
Property, Plant & Equipment	2.79	2.84	3.4	2.89	2.89
Long-Term Investments	0	0	0	0	0
Other Intangible Assets	0.4	1.06	1.36	1.22	0.99
Long-Term Deferred Charges	-	-	-	-	0.03
Other Long-Term Assets	0.13	0.12	0.13	0.33	0.19
Total Assets	16.96	20.19	16.82	16.25	16.71
Accounts Payable	0.9	0.67	0.74	1.08	0.94
Accrued Expenses	1.92	1.61	1.36	1.03	0.98
Current Portion of Leases	-	-	-	-	0.03
Current Income Taxes Payable	0.01	0	0.01	0	-
Current Unearned Revenue	0.16	0.09	0.07	0.02	0.03
Other Current Liabilities	0.08	0.19	0.27	0.17	0.14
Total Current Liabilities	3.06	2.56	2.44	2.3	2.12
Long-Term Leases	-	-	-	-	0
Long-Term Unearned Revenue	0.24	0.28	0.28	0.13	-
Total Liabilities	3.3	2.84	2.72	2.43	2.12
Common Stock	0.38	0.38	0.38	0.38	0.38
Additional Paid-In Capital	4.02	4.02	4.02	4.02	4.02
Retained Earnings	9.26	12.95	9.7	9.42	10.19
Comprehensive Income & Other	0	0	-	-	-
Shareholders' Equity	13.66	17.35	14.1	13.83	14.59
Total Liabilities & Equity	16.96	20.19	16.82	16.25	16.71
Total Debt	-	-	-	-	0.03
Net Cash (Debt)	5.66	8.6	5.49	5.95	6.57
Net Cash Growth	-34.19%	56.76%	-7.80%	-9.47%	18.24%
Net Cash Per Share	1.50	2.27	1.45	1.58	1.74
Filing Date Shares Outstanding	3.78	3.78	3.78	3.77	3.77
Total Common Shares Outstanding	3.78	3.78	3.78	3.77	3.77
Working Capital	10.58	13.61	9.49	9.51	10.49
Book Value Per Share	3.61	4.59	3.73	3.66	3.87
Tangible Book Value	13.26	16.29	12.74	12.61	13.6
Tangible Book Value Per Share	3.51	4.30	3.37	3.34	3.61
Land	0.47	0.47	0.47	0.47	0.47
Machinery	4.83	4.66	4.79	3.9	3.66
Construction In Progress	0.04	0.08	0.04	0.27	0.21
Leasehold Improvements	1.18	1.06	1.07	0.88	0.78

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