WSE:RAF 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	34.05	3.94	0.78	3.58	2.68
Cash & Short-Term Investments	34.05	3.94	0.78	3.58	2.68
Cash Growth	764.10%	405.91%	-78.26%	33.79%	19.23%
Accounts Receivable	66.94	81.29	111.81	94.81	90.78
Other Receivables	1.79	4.13	3.22	2.67	5.23
Receivables	68.73	85.42	115.03	97.47	96.01
Inventory	12.04	19.08	16.64	26.61	27.11
Prepaid Expenses	0.41	0.5	0.43	0.36	0.43
Other Current Assets	3.34	1.5	1.5	2.69	0.87
Total Current Assets	118.57	110.43	134.38	130.71	127.1
Property, Plant & Equipment	76.7	78.22	102.37	92.12	87.02
Long-Term Investments	0.13	0.13	0.13	0.13	0.13
Other Intangible Assets	0.47	0.52	0.77	0.88	1
Long-Term Deferred Tax Assets	0.35	0.54	8.62	5.5	4.23
Long-Term Deferred Charges	0.57	1.21	2.41	0.66	0.82
Other Long-Term Assets	3.76	0.4	0.47	5.12	0.58
Total Assets	200.55	191.45	249.14	235.12	220.86
Accounts Payable	26.48	21.89	19.16	21.49	20.91
Accrued Expenses	17.95	12.25	9.77	8.67	8.11
Short-Term Debt	24.43	-	-	-	28.3
Current Portion of Long-Term Debt	18.1	34.95	35.03	35.03	0.86
Current Portion of Leases	3.65	3.59	2.93	2.74	2.17
Current Income Taxes Payable	-	0.01	0.01	0	0.01
Current Unearned Revenue	25.97	45.49	46.49	38.9	32.33
Other Current Liabilities	4.52	3.38	2.12	2.72	2.68
Total Current Liabilities	121.09	121.56	115.51	109.56	95.35
Long-Term Debt	7.4	10.6	11.6	13.05	10.37
Long-Term Leases	9.05	10.87	10.49	6.63	4.64
Long-Term Unearned Revenue	4.71	5.22	5.75	6.4	2.72
Pension & Post-Retirement Benefits	8.37	6.84	6.94	6.67	7.98
Long-Term Deferred Tax Liabilities	5.49	5.26	8.67	7.97	7.72
Other Long-Term Liabilities	-	-	0.04	0.04	0.04
Total Liabilities	156.12	160.34	158.99	150.32	128.82
Common Stock	83.85	53.85	53.85	43.19	43.19
Additional Paid-In Capital	-	18.28	18.28	13.03	13.03
Retained Earnings	-56.4	-38.98	19.82	30.37	37.6
Comprehensive Income & Other	16.98	-2.05	-1.81	-1.8	-1.78
Shareholders' Equity	44.44	31.11	90.15	84.8	92.04
Total Liabilities & Equity	200.55	191.45	249.14	235.12	220.86
Total Debt	62.62	60.02	60.05	57.45	46.34
Net Cash (Debt)	-28.56	-56.08	-59.28	-53.87	-43.66
Net Cash Per Share	-4.15	-10.41	-11.01	-12.47	-10.11
Filing Date Shares Outstanding	8.39	5.39	5.39	5.39	4.32
Total Common Shares Outstanding	8.39	5.39	5.39	4.32	4.32
Working Capital	-2.52	-11.12	18.87	21.15	31.74
Book Value Per Share	5.30	5.78	16.74	19.63	21.31
Tangible Book Value	43.97	30.59	89.38	83.92	91.04
Tangible Book Value Per Share	5.24	5.68	16.60	19.43	21.08
Land	1.02	1.02	1.03	1.03	1.03
Buildings	38.35	37.68	39.83	38.34	37.96
Machinery	117.7	116.37	138.34	114.65	112.43
Construction In Progress	0.38	0.35	6.75	8.95	4.16

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.