Top Group Software Balance Sheet

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

Millions ILS. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Cash & Equivalents	26.13	40.3	31.58	16.45	13.82	18.07
Short-Term Investments	0.21	0.37	0.44	0.5	0.92	1
Cash & Short-Term Investments	26.33	40.67	32.01	16.95	14.74	19.07
Cash Growth	18.65%	27.05%	88.89%	14.96%	-22.69%	177.90%
Accounts Receivable	113.76	135.71	102.61	94.46	72.72	55.85
Other Receivables	11.79	4.47	2.48	1.57	1.24	1.06
Receivables	125.55	141.16	106.88	97.27	74.93	56.91
Prepaid Expenses	-	5.8	4.99	3.49	2.57	1.32
Other Current Assets	-	0.63	0.75	0.41	0.26	0.13
Total Current Assets	151.88	188.26	144.63	118.11	92.5	77.42
Property, Plant & Equipment	29.2	32	33.29	34.95	23.8	21.84
Goodwill	-	89.42	86.3	86.3	68.76	33.63
Other Intangible Assets	116.58	16.48	13.57	14.24	10.46	6.29
Long-Term Accounts Receivable	-	-	-	0.41	0.64	-
Long-Term Deferred Tax Assets	10.46	10.34	7.18	4.45	4.04	3.17
Other Long-Term Assets	0.43	0.42	0.4	0.47	0.32	-
Total Assets	309.53	338.62	288.06	262.96	205.15	142.35
Accounts Payable	28.15	40.97	16.64	15.3	5.6	3.14
Accrued Expenses	-	31.4	27.69	24.64	23.63	15.4
Short-Term Debt	34.86	32.42	41.1	21.17	15.85	12.85
Current Portion of Long-Term Debt	-	16.21	11.1	12.43	8.35	2.9
Current Portion of Leases	6.79	6.36	6.65	5.88	4.48	3.84
Current Unearned Revenue	-	23.45	23.24	18.09	14.56	9.91
Other Current Liabilities	91.48	31.53	32	26.04	19.68	16.79
Total Current Liabilities	161.29	182.36	158.42	123.55	92.14	64.82
Long-Term Debt	37.06	43.01	22.63	30.28	28.23	10.74
Long-Term Leases	21.02	23.27	24.91	26.93	17.39	15.79
Pension & Post-Retirement Benefits	1.13	0.98	0.93	0.97	1.16	0.66
Long-Term Deferred Tax Liabilities	1.26	1.87	1.59	1.52	0.37	0.19
Other Long-Term Liabilities	0.41	3.32	6.03	12.12	7.14	1.59
Total Liabilities	222.18	254.82	214.5	195.35	146.43	93.79
Common Stock	2.13	2.13	2.13	2.13	2.13	2.13
Additional Paid-In Capital	37.54	37.54	37.54	37.54	37.54	37.54
Retained Earnings	47.37	44.55	35.02	27.91	19.98	10.55
Comprehensive Income & Other	-7.32	-7.32	-7.42	-7.26	-3.48	-3.8
Total Common Equity	79.72	76.89	67.26	60.31	56.16	46.41
Minority Interest	7.64	6.91	6.3	7.3	2.56	2.15
Shareholders' Equity	87.35	83.81	73.56	67.61	58.73	48.57
Total Liabilities & Equity	309.53	338.62	288.06	262.96	205.15	142.35
Total Debt	99.74	121.28	106.39	96.68	74.29	46.12
Net Cash (Debt)	-73.41	-80.61	-74.38	-79.73	-59.55	-27.06
Net Cash Per Share	-3.50	-3.80	-3.51	-3.76	-2.81	-1.28
Filing Date Shares Outstanding	21.19	21.19	21.19	21.19	21.19	21.19
Total Common Shares Outstanding	21.19	21.19	21.19	21.19	21.19	21.19
Working Capital	-9.41	5.91	-13.79	-5.43	0.36	12.6
Book Value Per Share	3.76	3.63	3.17	2.85	2.68	2.19
Tangible Book Value	-36.87	-29	-32.61	-40.23	-23.06	6.49
Tangible Book Value Per Share	-1.74	-1.37	-1.54	-1.90	-1.10	0.31
Machinery	-	11.92	9.99	8.95	7.2	5.24
Leasehold Improvements	-	1.65	1.55	1.32	1.12	1.11

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