VARSAV Game Studios 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	-	0.18	0.19	-	0.77
Short-Term Investments	0.93	1.3	1.11	1.36	5.03
Cash & Short-Term Investments	0.93	1.48	1.3	1.36	5.8
Cash Growth	-37.02%	13.76%	-4.38%	-76.50%	-27.98%
Accounts Receivable	1.37	0.52	0.26	0.14	0.18
Other Receivables	0.02	0.16	0.16	0.25	0.2
Receivables	1.39	0.68	0.42	0.39	0.38
Inventory	10.38	7.76	5.54	8.93	6.82
Prepaid Expenses	-	-	0	-	0
Other Current Assets	-	-	0.02	-	0
Total Current Assets	12.71	9.92	7.29	10.68	13.01
Property, Plant & Equipment	0.31	0	0	0	0.01
Long-Term Investments	7.42	6.78	6.6	0.16	0.17
Long-Term Deferred Tax Assets	0.08	0.08	0.03	0.06	-
Long-Term Deferred Charges	-	0.01	-	-	-
Other Long-Term Assets	-	0.06	-	-	0.15
Total Assets	20.51	16.85	13.92	10.9	13.35
Accounts Payable	-	0.38	0.25	0.17	0.19
Accrued Expenses	-	0.36	0.3	0.28	0.41
Short-Term Debt	-	1.28	0.62	-	-
Current Portion of Leases	-	-	-	-	0.1
Current Income Taxes Payable	-	0.29	0.21	0.18	0.73
Other Current Liabilities	10.11	4.69	1	1.92	1.77
Total Current Liabilities	10.11	7	2.38	2.54	3.2
Long-Term Debt	0.02	0.02	1.27	1.18	0.18
Pension & Post-Retirement Benefits	0.06	0	0	0.09	0
Long-Term Deferred Tax Liabilities	1.15	1.15	0.62	0.04	0.4
Other Long-Term Liabilities	0.02	-	-	0.04	0.04
Total Liabilities	11.36	8.18	4.27	3.9	3.83
Common Stock	2	2	2	2	2
Additional Paid-In Capital	10.64	10.64	10.64	10.64	10.64
Retained Earnings	-10.01	-10.54	-11.02	-5.64	-3.14
Comprehensive Income & Other	6.52	6.57	8.02	0	0.02
Shareholders' Equity	9.15	8.67	9.65	7.01	9.52
Total Liabilities & Equity	20.51	16.85	13.92	10.9	13.35
Total Debt	0.02	1.3	1.89	1.18	0.28
Net Cash (Debt)	0.91	0.18	-0.59	0.18	5.52
Net Cash Growth	402.72%	-	-	-96.68%	-31.09%
Net Cash Per Share	0.04	0.01	-0.03	0.01	0.28
Filing Date Shares Outstanding	22.69	22.69	20.05	20.05	20.05
Total Common Shares Outstanding	22.69	22.69	20.05	20.05	20.05
Working Capital	2.6	2.92	4.91	8.14	9.81
Book Value Per Share	0.40	0.38	0.48	0.35	0.47
Tangible Book Value	9.15	8.67	9.65	7.01	9.52
Tangible Book Value Per Share	0.40	0.38	0.48	0.35	0.47
Machinery	-	0.31	0.31	0.31	0.43