Photon Energy 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
Cash & Equivalents	1.75	3.25	8.44	5.84	11.27	32.51
Trading Asset Securities	-	-	1.65	2.01	5.17	2.3
Accounts Receivable	8.23	14.29	10.68	5.73	10.78	4.89
Other Receivables	18.96	14.58	11.81	10	3.87	1.99
Inventory	3.42	4.29	6.75	14.09	20.33	2.2
Prepaid Expenses	1.78	1.9	1.27	1.29	0.6	0.27
Loans Receivable Current	2.94	1.51	2.83	2.82	2.45	1.81
Other Current Assets	-	7.31	12.53	10.65	10.09	8.2
Total Current Assets	43.48	47.12	55.95	52.42	64.55	54.16
Property, Plant & Equipment	178.95	171.69	164.41	177.5	149	129.63
Goodwill	9.42	15.27	15.27	15.27	15.27	-
Other Intangible Assets	6.9	10.4	10.64	8.06	7.54	0.84
Long-Term Investments	2.45	18.59	19.12	18.84	9.33	11.36
Long-Term Deferred Tax Assets	4.95	4.96	4.42	2.78	1.6	-
Other Long-Term Assets	18.15	2.91	3.04	2.55	6.41	0.63
Total Assets	264.3	270.93	272.84	277.42	253.69	196.62
Accounts Payable	13.27	20.6	16.78	9.31	11.99	2.28
Accrued Expenses	-	-	2.73	1.89	1.29	0.55
Short-Term Debt	15.14	1.1	0.27	-	-	-
Current Portion of Long-Term Debt	-	14.13	18.46	13.41	10.93	28.46
Current Unearned Revenue	3.69	3.62	2.6	0.66	0.59	0.42
Current Portion of Leases	0.21	0.34	0.95	0.94	0.71	0.6
Current Income Taxes Payable	-	-	0.58	-	2.71	-
Other Current Liabilities	11.8	9.1	2.75	3.37	5.32	1.65
Total Current Liabilities	44.11	48.89	45.11	29.57	33.54	33.96
Long-Term Debt	151.81	151.01	150.53	160.82	135.19	98.7
Long-Term Leases	4.17	5.05	4.49	4.18	2.91	1.68
Long-Term Deferred Tax Liabilities	11.64	1.14	10.14	11.07	11.01	10.2
Other Long-Term Liabilities	1.52	12.47	2.51	2.28	0.57	0.55
Total Liabilities	213.26	218.56	212.77	207.92	183.22	145.08
Common Stock	0.61	0.61	0.61	0.61	0.6	0.6
Additional Paid-In Capital	41.08	41.08	40.73	40.69	40.52	31.44
Retained Earnings	-69.86	-55.76	-37.76	-28.7	-15.4	-24.67
Treasury Stock	-1.04	-1.05	-0.82	-0.83	-0.14	-0.04
Comprehensive Income & Other	80.67	67.88	57.65	58	45.08	44.35
Total Common Equity	51.47	52.77	60.41	69.77	70.67	51.69
Minority Interest	-0.43	-0.39	-0.34	-0.26	-0.2	-0.15
Shareholders' Equity	51.04	52.37	60.07	69.5	70.48	51.54
Total Liabilities & Equity	264.3	270.93	272.84	277.42	253.69	196.62
Total Debt	171.33	171.63	174.69	179.35	149.74	129.44
Net Cash (Debt)	-169.58	-168.39	-164.6	-171.5	-133.31	-94.63
Net Cash Per Share	-2.84	-2.80	-2.75	-2.88	-2.35	-1.74
Filing Date Shares Outstanding	60.08	60.27	59.9	59.75	59.88	56.25
Total Common Shares Outstanding	60.08	60.27	59.9	59.75	58.67	56.25
Working Capital	-0.64	-1.78	10.84	22.85	31.01	20.2
Book Value Per Share	0.86	0.88	1.01	1.17	1.20	0.92
Tangible Book Value	35.14	27.1	34.5	46.43	47.86	50.84
Tangible Book Value Per Share	0.59	0.45	0.58	0.78	0.82	0.90
Land	-	-	6.51	6.33	5.32	5.17
Machinery	-	-	228.93	225.46	184.78	184.1
Construction In Progress	-	-	13.22	21.47	28.11	3.05