mBank Cash Flow Statement

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

Millions PLN. 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
Net Income	4,958	2,905	897.64	-59.53	-680.23
Depreciation & Amortization	575.6	524.59	449.66	416.94	389.16
Other Adjustments	-2,700	-2,638	-3,099	614.3	-508.24
Changes in Trading Assets	-1,209	194.28	1,813	-1,003	-1,573
Changes in Accounts Payable	29,197	15,523	11,265	14,418	24,065
Changes in Accrued Expenses	-1,239	951.24	981.24	427.22	316.82
Changes in Other Operating Activities	-27,062	-19,575	5,900	-8,488	-12,146
Operating Cash Flow	2,454	-2,025	18,208	6,326	9,864
Operating Cash Flow Growth	-	-	187.83%	-35.87%	-
Cash Acquisitions	-	64.6	19.06	-	17.04
Proceeds from Business Divestments	181.68	-	-	0.12	5.15
Purchases of Intangible Assets	695.23	665.08	527.82	447.1	436.59
Proceeds from Sale of Intangible Assets	138.26	0.59	35.19	5.25	0.83
Other Investing Activities	0	0	4.93	48.74	30.1
Investing Cash Flow	-356.19	-722.43	-506.76	-392.99	-417.56
Long-Term Debt Issued	4,740	2,653	4,197	939.23	2,310
Long-Term Debt Repaid	2,790	1,180	1,183	3,085	3,469
Net Long-Term Debt Issued (Repaid)	7,530	3,833	5,379	4,024	5,779
Issuance of Common Stock	0.12	0.13	0.13	0.19	0.07
Net Common Stock Issued (Repurchased)	0.12	0.13	0.13	0.19	0.07
Other Financing Activities	-35.59	1,672	192.48	94.49	59.69
Financing Cash Flow	1,714	2,705	2,822	-2,240	-1,218
Foreign Exchange Rate Adjustments	-1.77	2.46	-1.75	4.02	-9.65
Net Cash Flow	3,812	-42.43	20,523	3,693	8,227
Free Cash Flow	2,454	-2,025	18,208	6,326	9,864
Free Cash Flow Growth	-	-	187.83%	-35.87%	-
FCF Margin	24.55%	-27.36%	389.48%	158.97%	352.87%
Free Cash Flow Per Share	57.66	-47.60	428.21	148.95	232.35