Benefit Systems S.A. (WSE:BFT)

Benefit Systems Cash Flow Statement

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

Operating Activities

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Net Income	915.95	570.85	449.63	439.65	138.12	-25.14
Depreciation & Amortization	652.6	500.1	315.55	258.42	232.08	209.1
Other Amortization	39.95	39.95	37.45	29.06	-	-
Loss (Gain) From Sale of Assets	2.54	2.54	3.89	2.6	7.04	5.42
Asset Writedown & Restructuring Costs	23.54	23.54	12.23	7.42	2.2	8.05
Loss (Gain) From Sale of Investments	-	-	-2.31	-0.05	-	-
Loss (Gain) on Equity Investments	0.2	0.2	-0.71	-0.66	2.29	-0.96
Stock-Based Compensation	85	85	86.79	6.28	-	-
Other Operating Activities	-238.2	-108.5	47.58	83.24	43.93	-14.26
Change in Accounts Receivable	-118.39	-118.39	-56.88	-34.63	-31.79	-3.89
Change in Inventory	-1.99	-1.99	-1.27	-1.54	-2.1	0.08
Change in Other Net Operating Assets	216.93	149.53	70.38	40.68	47.89	62.17
Operating Cash Flow	1,578	1,143	962.34	830.46	439.67	240.57
Operating Cash Flow Growth	68.47%	18.75%	15.88%	88.88%	82.76%	8.31%

Investing Activities

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Capital Expenditures	-624.53	-557.43	-256.32	-115.31	-75.73	-36.79
Sale of Property, Plant & Equipment	25.08	25.08	-	12.96	2.57	5.21
Cash Acquisitions	-335.04	-1,748	-185.31	-124.98	-36.17	-58.87
Sale (Purchase) of Intangibles	-126.71	-105.41	-61.97	-43.12	-47	-37.36
Investment in Securities	-8.86	-8.86	-40.58	0.05	-	-
Other Investing Activities	91.84	54.34	16.27	12.9	1.77	0.52
Investing Cash Flow	-1,006	-2,368	-537.05	-262.22	-155.07	-125.74

Financing Activities

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Long-Term Debt Issued	-	2,153	115.7	-	50.5	-
Long-Term Debt Repaid	-	-960.14	-35.14	-235.83	-353.09	-167.35
Net Debt Issued (Repaid)	-171.38	1,193	80.56	-235.83	-302.59	-167.35
Issuance of Common Stock	15.58	740.08	23.11	18.61	-	111.77
Common Dividends Paid	-	-	-399.37	-120.77	-	-
Other Financing Activities	-426.8	-396.3	-254.09	-14.58	-16.7	-30.02
Financing Cash Flow	-582.6	1,537	-549.79	-352.56	-319.28	-85.6

Net Cash Flow

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Foreign Exchange Rate Adjustments	-23.2	-23.2	-	-	-	-
Net Cash Flow	-33.95	288.45	-124.51	215.68	-34.69	29.24

Free Cash Flow

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Free Cash Flow	953.58	585.38	706.02	715.15	363.94	203.79
Free Cash Flow Growth	78.99%	-17.09%	-1.28%	96.50%	78.59%	7.51%
Free Cash Flow Margin	17.92%	12.94%	20.78%	25.78%	19.06%	21.34%
Free Cash Flow Per Share	288.87	183.19	236.96	242.92	124.06	71.84
Levered Free Cash Flow	923.54	473.62	529.77	606.93	234.49	161.2
Unlevered Free Cash Flow	1,041	586.48	561.86	629.38	251.16	173.83

Additional Metrics

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Cash Interest Paid	97.99	67.69	7.2	7.8	11.51	7.98
Cash Income Tax Paid	202.35	249.95	132.22	21	19.64	9.13
Change in Working Capital	96.54	29.14	12.24	4.51	14.01	58.35

Data Source: S&P Global Market Intelligence Last updated: Jun 30, 2026

Financial data is provided by S&P Global Market Intelligence and updates within hours after each earnings release, which is every three months for this company.

Update frequency:

Quarterly

Last checked:

Aug 25, 2026

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