ZSE:VLEN Balance Sheet

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

Millions EUR. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Cash & Equivalents	11.94	11	13.35	17.46	4.71	4.71
Cash & Short-Term Investments	11.94	11	13.35	17.46	4.71	4.71
Cash Growth	26.45%	-17.60%	-23.50%	270.29%	0.11%	118.15%
Accounts Receivable	7.36	5.57	4.12	4	1.7	5.07
Other Receivables	9.32	1.28	2.33	1.65	1.01	0.71
Receivables	16.68	6.85	6.45	5.65	2.71	5.78
Inventory	4.25	4.7	6.42	6.18	2.15	1.94
Prepaid Expenses	-	2.72	3.95	10.69	5.23	0.96
Other Current Assets	-	5.7	4.83	3.98	0.27	0.18
Total Current Assets	32.87	30.97	35	43.96	15.08	13.57
Property, Plant & Equipment	43.56	46.48	35.12	25.88	36.57	35.66
Long-Term Investments	0.02	0.03	0.04	1.14	1.14	1.14
Other Intangible Assets	0.51	0.5	0.48	0.54	0.66	0.71
Long-Term Deferred Tax Assets	0.01	0.01	0.01	0.06	0.06	0.07
Other Long-Term Assets	7.96	0.27	0.53	0.5	0.27	0.45
Total Assets	84.94	78.27	71.18	72.09	53.78	51.6
Accounts Payable	11.99	8.49	8.95	9.21	4.7	3.82
Accrued Expenses	11.31	9.9	8.79	4.62	2.37	1.57
Short-Term Debt	-	-	-	-	0.31	1.43
Current Portion of Long-Term Debt	0.03	0.63	0.15	1.24	1.56	1.47
Current Portion of Leases	-	0.04	0.08	0.09	0.11	0.18
Current Income Taxes Payable	0.5	0.29	0.19	2.2	0.32	0.83
Other Current Liabilities	0.33	1.06	0.27	6.6	1.56	0.58
Total Current Liabilities	24.15	20.42	18.43	23.97	10.93	9.87
Long-Term Debt	0.17	0.08	0.16	0.3	1.52	2.66
Long-Term Leases	-	0.08	0.12	0.18	0.27	0.39
Long-Term Deferred Tax Liabilities	0	0	0	0	0	0
Other Long-Term Liabilities	2.24	2.24	2.46	2.35	1.12	1.42
Total Liabilities	26.56	22.83	21.18	26.8	13.84	14.34
Common Stock	22.32	22.32	22.32	22.32	22.37	22.27
Retained Earnings	37.1	6.54	5.84	6.57	3.63	5.84
Treasury Stock	-1.07	-1.07	-1.07	-1.07	-1.07	-1.07
Comprehensive Income & Other	-	27.62	22.89	17.47	15.01	10.23
Total Common Equity	58.35	55.4	49.98	45.29	39.94	37.27
Minority Interest	0.04	0.03	0.03	0	0	-0.01
Shareholders' Equity	58.38	55.44	50.01	45.29	39.94	37.26
Total Liabilities & Equity	84.94	78.27	71.18	72.09	53.78	51.6
Total Debt	0.2	0.84	0.51	1.81	3.76	6.12
Net Cash (Debt)	11.74	10.17	12.84	15.64	0.95	-1.41
Net Cash Growth	38.59%	-20.83%	-17.89%	1547.94%	-	-
Net Cash Per Share	0.73	0.56	0.92	0.98	0.06	-0.09
Filing Date Shares Outstanding	15.99	15.99	15.99	15.99	15.99	15.99
Total Common Shares Outstanding	15.99	15.99	15.99	15.99	15.99	15.99
Working Capital	8.72	10.55	16.57	19.99	4.15	3.7
Book Value Per Share	3.65	3.47	3.13	2.83	2.50	2.33
Tangible Book Value	57.84	54.91	49.5	44.75	39.28	36.57
Tangible Book Value Per Share	3.62	3.43	3.10	2.80	2.46	2.29
Land	-	1.66	1.66	1.66	1.66	1.66
Buildings	-	9.28	8.91	8.91	8.93	8.89
Machinery	-	127.27	108.17	107.96	107.89	102.66
Construction In Progress	-	11.1	14.7	0.08	0.07	0.12

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.