ZSE:VLEN Balance Sheet

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

Millions EUR. 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	9.74	11	13.35	17.46	4.71
Cash & Short-Term Investments	9.74	11	13.35	17.46	4.71
Cash Growth	-11.44%	-17.60%	-23.50%	270.29%	0.11%
Accounts Receivable	9.97	5.57	4.12	4	1.7
Other Receivables	9.15	1.28	2.33	1.65	1.01
Receivables	19.22	6.85	6.45	5.65	2.71
Inventory	3.89	4.7	6.42	6.18	2.15
Prepaid Expenses	-	2.72	3.95	10.69	5.23
Other Current Assets	-	5.7	4.83	3.98	0.27
Total Current Assets	32.86	30.97	35	43.96	15.08
Property, Plant & Equipment	42.85	46.48	35.12	25.88	36.57
Long-Term Investments	0.02	0.03	0.04	1.14	1.14
Other Intangible Assets	0.56	0.5	0.48	0.54	0.66
Long-Term Deferred Tax Assets	0.01	0.01	0.01	0.06	0.06
Other Long-Term Assets	6.72	0.27	0.53	0.5	0.27
Total Assets	83.05	78.27	71.18	72.09	53.78
Accounts Payable	7.33	8.49	8.95	9.21	4.7
Accrued Expenses	12.58	9.9	8.79	4.62	2.37
Short-Term Debt	-	-	-	-	0.31
Current Portion of Long-Term Debt	0.12	0.63	0.15	1.24	1.56
Current Portion of Leases	-	0.04	0.08	0.09	0.11
Current Income Taxes Payable	0.75	0.29	0.19	2.2	0.32
Other Current Liabilities	0.47	1.06	0.27	6.6	1.56
Total Current Liabilities	21.26	20.42	18.43	23.97	10.93
Long-Term Debt	0.07	0.08	0.16	0.3	1.52
Long-Term Leases	-	0.08	0.12	0.18	0.27
Pension & Post-Retirement Benefits	0.38	-	-	-	-
Long-Term Deferred Tax Liabilities	0	0	0	0	0
Other Long-Term Liabilities	2.24	2.24	2.46	2.35	1.12
Total Liabilities	23.95	22.83	21.18	26.8	13.84
Common Stock	22.32	22.32	22.32	22.32	22.37
Retained Earnings	37.81	6.54	5.84	6.57	3.63
Treasury Stock	-1.07	-1.07	-1.07	-1.07	-1.07
Comprehensive Income & Other	-	27.62	22.89	17.47	15.01
Total Common Equity	59.06	55.4	49.98	45.29	39.94
Minority Interest	0.04	0.03	0.03	0	0
Shareholders' Equity	59.1	55.44	50.01	45.29	39.94
Total Liabilities & Equity	83.05	78.27	71.18	72.09	53.78
Total Debt	0.19	0.84	0.51	1.81	3.76
Net Cash (Debt)	9.55	10.17	12.84	15.64	0.95
Net Cash Growth	-6.06%	-20.83%	-17.89%	1547.94%	-
Net Cash Per Share	0.57	0.56	0.92	0.98	0.06
Filing Date Shares Outstanding	15.99	15.99	15.99	15.99	15.99
Total Common Shares Outstanding	15.99	15.99	15.99	15.99	15.99
Working Capital	11.6	10.55	16.57	19.99	4.15
Book Value Per Share	3.69	3.47	3.13	2.83	2.50
Tangible Book Value	58.5	54.91	49.5	44.75	39.28
Tangible Book Value Per Share	3.66	3.43	3.10	2.80	2.46
Land	-	1.66	1.66	1.66	1.66
Buildings	-	9.28	8.91	8.91	8.93
Machinery	-	127.27	108.17	107.96	107.89
Construction In Progress	-	11.1	14.7	0.08	0.07

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