BQE Water Balance Sheet

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

Millions CAD. 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	17.68	18.98	11.77	7.93	6.41	4.03
Short-Term Investments	0.52	0.52	-	-	-	-
Cash & Short-Term Investments	18.21	19.51	11.77	7.93	6.41	4.03
Cash Growth	64.17%	65.71%	48.48%	23.59%	59.30%	24.30%
Accounts Receivable	4.82	5.75	4.46	4.37	3.21	2.01
Other Current Assets	0.59	0.52	1.08	0.41	0.34	0.23
Total Current Assets	23.62	25.78	17.32	12.71	9.96	6.27
Net Property, Plant & Equipment	3.15	2.19	2.15	1.82	0.4	0.26
Other Intangible Assets	0.04	0.06	0.15	0.23	0.31	0.4
Long-Term Investments	4.65	4.47	6.05	4.05	5.3	6.86
Other Long-Term Assets	3.22	3.21	1.43	0.05	0.02	0.02
Total Assets	34.68	35.71	27.09	18.86	15.99	13.8
Accounts Payable	2.13	2.74	1.75	1.34	1.24	1.04
Accrued Expenses	1.1	1.08	1.18	0.61	0.7	0.39
Short-Term Debt	-	0.02	0.08	0.08	0.08	0.08
Current Portion of Leases	0.16	0.14	0.16	0.11	0.19	0.12
Unearned Revenue	0.3	0.38	1.55	0.04	0.44	0.07
Other Current Liabilities	-	-	-	-	0.14	-
Total Current Liabilities	3.69	4.37	4.72	2.18	2.79	1.71
Long-Term Debt	1.01	0.61	0.25	0.23	0.19	0.27
Long-Term Leases	1.83	1.54	1.45	1.5	0.09	0.09
Other Long-Term Liabilities	0.38	0.4	0.14	0.17	0.28	0.42
Total Long-Term Liabilities	3.22	2.55	1.84	1.9	0.56	0.78
Total Liabilities	6.91	6.91	6.56	4.08	3.35	2.49
Common Stock	57.17	57.09	56.81	56.3	56.65	56.57
Additional Paid-in Capital	11.2	11.2	11.18	11.11	10.92	10.67
Accumulated Other Comprehensive Income	1.68	1.5	1.6	1.23	1.58	1.75
Retained Earnings	-42.27	-41	-49.06	-53.86	-56.52	-57.68
Shareholders' Equity	27.77	28.8	20.53	14.78	12.64	11.31
Total Liabilities & Equity	34.68	35.71	27.09	18.86	15.99	13.8
Total Debt	3	2.31	1.94	1.92	0.55	0.56
Net Cash (Debt)	15.21	17.19	9.83	6.01	5.87	3.47
Net Cash Growth	-11.55%	74.90%	63.58%	2.40%	69.14%	36.17%
Net Cash Per Share	20.04	13.15	7.67	4.71	4.65	2.78
Book Value	27.77	28.8	20.53	14.78	12.64	11.31
Book Value Per Share	36.60	22.03	16.01	11.59	10.01	9.07
Tangible Book Value	27.73	28.73	20.38	14.55	12.32	10.91
Tangible Book Value Per Share	36.55	21.98	15.89	11.41	9.76	8.75