Baltic Horizon Fund 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
Property, Plant & Equipment	208.95	241.16	250.39	333.12	327.36
Cash & Equivalents	5.38	10.05	6.18	5.35	16.1
Accounts Receivable	1.3	1.7	1.7	2.39	2.48
Other Receivables	0.46	1.1	0.89	0.31	0.22
Investment In Debt and Equity Securities	-	0	0.3	2.23	-
Other Intangible Assets	-	0	0.01	0.01	0.01
Other Current Assets	0.29	0.8	0.4	0.27	0.14
Trading Asset Securities	-	-	0.62	0.29	-
Other Long-Term Assets	0.24	1.23	0.65	-	0.02
Total Assets	216.62	256.05	261.14	343.96	346.34
Current Portion of Long-Term Debt	3.09	0.94	13.88	1.05	0.65
Current Portion of Leases	0.01	0.02	0.02	0.03	0.04
Long-Term Debt	113.03	98.27	63.92	123.51	157.69
Long-Term Leases	0.22	0.22	0.24	0.51	0.54
Accounts Payable	1.11	1.96	0.97	2.33	1.33
Accrued Expenses	1.47	2.31	2	1.54	1.38
Current Income Taxes Payable	0.01	0.01	0.01	0.01	0.01
Other Current Liabilities	0.55	1.1	1.03	2.59	3.63
Long-Term Deferred Tax Liabilities	0.64	1.9	2.77	7.49	6.3
Other Long-Term Liabilities	1.3	1.45	1.08	1.24	1.1
Total Liabilities	138.37	157.95	151.61	210.31	213.75
Common Stock	151.5	151.5	145.2	145.2	145.2
Retained Earnings	-73.06	-52.98	-36.2	-13.23	-11.79
Comprehensive Income & Other	-0.19	-0.42	0.53	1.68	-0.83
Shareholders' Equity	78.25	98.1	109.53	133.66	132.58
Total Liabilities & Equity	216.62	256.05	261.14	343.96	346.34
Total Debt	133.29	149.23	143.74	195.11	200.01
Net Cash (Debt)	-127.91	-139.17	-136.94	-189.47	-183.91
Net Cash Per Share	-0.89	-1.10	-1.14	-1.58	-1.54
Filing Date Shares Outstanding	143.56	143.56	119.64	119.64	119.64
Total Common Shares Outstanding	143.56	143.56	119.64	119.64	119.64
Book Value Per Share	0.55	0.68	0.92	1.12	1.11
Tangible Book Value	78.25	98.09	109.52	133.65	132.58
Tangible Book Value Per Share	0.55	0.68	0.92	1.12	1.11

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