Quercus TFI Balance Sheet

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
Cash & Equivalents	141.35	84.68	68.49	58.15	80.74
Short-Term Investments	-	14.58	-	-	-
Trading Asset Securities	1.46	-	0.3	-	3.32
Cash & Short-Term Investments	142.81	99.26	68.79	58.15	84.06
Cash Growth	43.88%	44.29%	18.30%	-30.82%	155.12%
Accounts Receivable	37.87	34	32.22	10.95	29.56
Other Receivables	-	0.02	1.52	-	0.11
Receivables	37.87	34.02	33.74	10.95	29.67
Other Current Assets	1.01	0.79	1.13	0.8	0.48
Total Current Assets	181.69	134.07	103.66	69.9	114.21
Property, Plant & Equipment	9.41	6.33	5.97	5.88	4.72
Long-Term Investments	41.36	42.12	87.26	75.14	69.09
Other Intangible Assets	8	6.84	6	6.4	7.51
Long-Term Deferred Tax Assets	2.46	1.44	-	-	-
Other Long-Term Assets	0.48	0.9	1.59	0.69	0.65
Total Assets	243.4	191.7	204.49	158	196.19
Accounts Payable	73.08	2.44	3.02	3.06	1.42
Accrued Expenses	26.01	20.72	14.73	7.1	13.65
Current Portion of Leases	1.31	1.44	1.52	1.15	2.17
Current Income Taxes Payable	4.85	5.41	4.25	0.49	2.2
Other Current Liabilities	-	37.03	50.86	41.2	70.42
Total Current Liabilities	105.24	67.03	74.37	52.99	89.87
Long-Term Leases	4	1.75	3.04	3.15	1.31
Pension & Post-Retirement Benefits	-	0.29	0.29	0.23	0.19
Long-Term Deferred Tax Liabilities	-	-	0.16	0.47	0.36
Other Long-Term Liabilities	5.29	3.01	21.71	14.84	14.87
Total Liabilities	114.54	72.08	99.57	71.67	106.6
Common Stock	4.76	5.21	5.52	5.65	5.88
Additional Paid-In Capital	35.78	28.85	28.85	28.85	28.85
Retained Earnings	64.86	46.81	32.84	15.18	25.02
Comprehensive Income & Other	16.13	32.56	32.18	31.39	29.84
Total Common Equity	121.53	113.42	99.38	81.06	89.59
Minority Interest	7.33	6.2	5.54	5.27	-
Shareholders' Equity	128.86	119.62	104.92	86.34	89.59
Total Liabilities & Equity	243.4	191.7	204.49	158	196.19
Total Debt	5.31	3.19	4.56	4.29	3.49
Net Cash (Debt)	137.51	96.07	64.23	53.86	80.57
Net Cash Growth	43.13%	49.57%	19.26%	-33.16%	157.43%
Net Cash Per Share	2.99	1.84	1.16	0.95	1.36
Filing Date Shares Outstanding	43.05	52.09	55.16	56.49	58.83
Total Common Shares Outstanding	43.05	52.09	55.16	56.49	58.83
Working Capital	76.45	67.04	29.29	16.91	24.34
Book Value Per Share	2.82	2.18	1.80	1.44	1.52
Tangible Book Value	113.53	106.57	93.37	74.66	82.08
Tangible Book Value Per Share	2.64	2.05	1.69	1.32	1.40
Machinery	-	10.27	8.65	7.96	8.98

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