Quercus TFI Balance Sheet

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

Millions PLN. 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	243	141.35	84.68	68.49	58.15	80.74
Short-Term Investments	-	-	14.58	-	-	-
Trading Asset Securities	0.86	1.46	-	0.3	-	3.32
Cash & Short-Term Investments	243.86	142.81	99.26	68.79	58.15	84.06
Cash Growth	85.31%	43.88%	44.29%	18.30%	-30.82%	155.12%
Accounts Receivable	18.52	37.86	34	32.22	10.95	29.56
Other Receivables	0.77	0.01	0.02	1.52	-	0.11
Receivables	19.3	37.87	34.02	33.74	10.95	29.67
Other Current Assets	0.77	1.01	0.79	1.13	0.8	0.48
Total Current Assets	263.92	181.69	134.07	103.66	69.9	114.21
Property, Plant & Equipment	8.87	9.41	6.33	5.97	5.88	4.72
Long-Term Investments	41.18	41.36	42.12	87.26	75.14	69.09
Other Intangible Assets	8.67	8	6.84	6	6.4	7.51
Long-Term Deferred Tax Assets	2.16	2.46	1.44	-	-	-
Other Long-Term Assets	0.82	0.48	0.9	1.59	0.69	0.65
Total Assets	325.62	243.4	191.7	204.49	158	196.19
Accounts Payable	103.26	36	2.44	3.02	3.06	1.42
Accrued Expenses	26.18	25.4	20.72	14.73	7.1	13.65
Current Portion of Leases	1.43	1.31	1.44	1.52	1.15	2.17
Current Income Taxes Payable	0.23	4.85	5.41	4.25	0.49	2.2
Other Current Liabilities	2.64	37.7	37.03	50.86	41.2	70.42
Total Current Liabilities	133.73	105.24	67.03	74.37	52.99	89.87
Long-Term Leases	3.67	4	1.75	3.04	3.15	1.31
Pension & Post-Retirement Benefits	-	0.39	0.29	0.29	0.23	0.19
Long-Term Deferred Tax Liabilities	-	-	-	0.16	0.47	0.36
Other Long-Term Liabilities	6.43	4.91	3.01	21.71	14.84	14.87
Total Liabilities	143.83	114.54	72.08	99.57	71.67	106.6
Common Stock	5.06	4.76	5.21	5.52	5.65	5.88
Additional Paid-In Capital	71.48	35.78	28.85	28.85	28.85	28.85
Retained Earnings	80.89	64.86	46.81	32.84	15.18	25.02
Comprehensive Income & Other	16.13	16.13	32.56	32.18	31.39	29.84
Total Common Equity	173.56	121.53	113.42	99.38	81.06	89.59
Minority Interest	8.23	7.33	6.2	5.54	5.27	-
Shareholders' Equity	181.79	128.86	119.62	104.92	86.34	89.59
Total Liabilities & Equity	325.62	243.4	191.7	204.49	158	196.19
Total Debt	5.1	5.31	3.19	4.56	4.29	3.49
Net Cash (Debt)	238.75	137.51	96.07	64.23	53.86	80.57
Net Cash Growth	85.38%	43.13%	49.57%	19.26%	-33.16%	157.43%
Net Cash Per Share	5.06	2.89	1.84	1.16	0.95	1.36
Filing Date Shares Outstanding	50.57	47.57	52.09	55.16	56.49	58.83
Total Common Shares Outstanding	50.57	47.57	52.09	55.16	56.49	58.83
Working Capital	130.19	76.45	67.04	29.29	16.91	24.34
Book Value Per Share	3.43	2.55	2.18	1.80	1.44	1.52
Tangible Book Value	164.89	113.53	106.57	93.37	74.66	82.08
Tangible Book Value Per Share	3.26	2.39	2.05	1.69	1.32	1.40
Machinery	11.77	11.68	10.27	8.65	7.96	8.98

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