VARSAV Game Studios S.A. (WSE:VAR)

VARSAV Game Studios Balance Sheet

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

Assets

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar 31, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Cash & Equivalents	0.79	0.93	1.48	1.3	1.36	5.8
Cash & Short-Term Investments	0.79	0.93	1.48	1.3	1.36	5.8
Cash Growth	28.43%	-37.02%	13.76%	-4.38%	-76.50%	-27.98%
Accounts Receivable	0.66	1.37	0.73	0.4	0.36	0.36
Inventory	8.9	10.38	7.96	5.54	8.93	6.82
Other Current Assets	0.02	0.02	0.03	0.05	0.03	0.03
Total Current Assets	10.37	12.71	10.2	7.29	10.68	13.01
Net Property, Plant & Equipment	-	0.31	0	0	0	0.01
Long-Term Investments	7.88	7.42	6.78	6.6	0.16	0.17
Other Long-Term Assets	0.78	0.08	0.05	0.03	0.06	0.15
Total Assets	19.25	20.51	17.03	13.92	10.9	13.35

Liabilities

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar 31, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Accounts Payable	4.73	6.53	4.16	2.31	2.13	2.68
Other Current Liabilities	0.02	1.14	0	0	0	0
Total Current Liabilities	4.75	7.67	4.16	2.31	2.13	2.68
Long-Term Debt	2.47	2.46	0.02	1.27	1.22	0.23
Other Long-Term Liabilities	1.12	1.23	0.73	0.69	0.55	0.92
Total Long-Term Liabilities	3.59	3.69	0.75	1.96	1.77	1.15
Total Liabilities	8.34	11.36	4.91	4.27	3.9	3.83

Shareholders' Equity

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar 31, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Common Stock	2.01	2.01	2.01	2.01	2.01	2.01
Additional Paid-in Capital	10.64	10.64	10.64	10.64	10.64	10.64
Accumulated Other Comprehensive Income	9.83	6.52	9.4	8.02	0	0.02
Retained Earnings	-11.56	-10.01	-9.92	-11.02	-5.64	-3.14
Shareholders' Equity	10.91	9.15	12.12	9.65	7.01	9.52
Total Liabilities & Equity	19.25	20.51	17.03	13.92	10.9	13.35

Additional Metrics

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar 31, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Total Debt	2.47	2.46	0.02	1.27	1.22	0.23
Net Cash (Debt)	-1.69	-1.52	1.46	0.03	0.14	5.57
Net Cash Growth	-	-	4102.73%	-75.11%	-97.50%	-29.97%
Net Cash Per Share	-0.07	-0.06	0.06	0.00	0.01	0.28
Book Value	10.91	9.15	12.12	9.65	7.01	9.52
Book Value Per Share	0.47	0.37	0.53	0.48	0.35	0.47
Tangible Book Value	10.91	9.15	12.12	9.65	7.01	9.52
Tangible Book Value Per Share	0.47	0.37	0.53	0.48	0.35	0.47

Data Source: Fiscal.ai Last updated: May 15, 2026

Financial data is provided by Fiscal.ai and updates within minutes after each earnings release, which is every three months for this company.

Update frequency:

Quarterly

Last checked:

Jul 28, 2026

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