Baltic Horizon Fund 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
Property, Plant & Equipment	209.44	208.95	241.16	250.39	333.12	327.36
Cash & Equivalents	9.84	5.38	10.05	6.18	5.35	16.1
Accounts Receivable	1.85	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	0.18	-	0	0.3	2.23	-
Other Intangible Assets	-	-	0	0.01	0.01	0.01
Other Current Assets	0.57	0.29	0.8	0.4	0.27	0.14
Trading Asset Securities	-	-	-	0.62	0.29	-
Other Long-Term Assets	0.15	0.24	1.23	0.65	-	0.02
Total Assets	222.03	216.62	256.05	261.14	343.96	346.34
Current Portion of Long-Term Debt	8.31	2.32	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	117.97	77.24	98.27	63.92	123.51	157.69
Long-Term Leases	-	0.21	0.22	0.24	0.51	0.54
Accounts Payable	2.37	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	0.37	0.55	1.1	1.03	2.59	3.63
Long-Term Deferred Tax Liabilities	0.69	0.64	1.9	2.77	7.49	6.3
Other Long-Term Liabilities	1.21	1.3	1.45	1.08	1.24	1.1
Total Liabilities	130.91	138.37	157.95	151.61	210.31	213.75
Common Stock	163.77	151.5	151.5	145.2	145.2	145.2
Retained Earnings	-72.82	-73.06	-52.98	-36.2	-13.23	-11.79
Comprehensive Income & Other	0.18	-0.19	-0.42	0.53	1.68	-0.83
Shareholders' Equity	91.12	78.25	98.1	109.53	133.66	132.58
Total Liabilities & Equity	222.03	216.62	256.05	261.14	343.96	346.34
Total Debt	126.28	133.29	149.23	143.74	195.11	200.01
Net Cash (Debt)	-116.45	-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	91.12	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.