| BRL billions | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | Trend | YoY |
|---|---|---|---|---|---|---|---|---|
| Cash & cash equivalents | 23.8 | 21.3 | 28.5 | 171.8 | 168.4 | 160.8 | −4.5% | |
| Cash & short-term investments | 23.8 | 21.3 | 28.5 | 41.5 | 292.8 | 278.4 | −4.9% | |
| Receivables | 23.8 | 22.5 | 25.7 | 25.6 | 33.2 | 5.9 | −82.2% | |
| Inventory | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | — | |
| Total current assets | 23.8 | 21.3 | 28.5 | 41.5 | 329.5 | 289.3 | −12.2% | |
| Property, plant & equipment | 14.1 | 13.5 | 12.0 | 11.1 | 10.2 | 9.4 | −8.0% | |
| Goodwill & intangibles | 14.7 | 14.9 | 18.8 | 22.1 | 23.7 | 25.7 | +8.4% | |
| Long-term investments | 1,012.4 | 1,147.2 | 1,128.1 | 1,136.6 | 1,291.0 | 1,477.8 | +14.5% | |
| Total assets | 1,604.7 | 1,675.6 | 1,792.3 | 1,927.5 | 2,069.5 | 2,330.3 | +12.6% | |
| Payables | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | — | |
| Short-term debt | 0.0 | 0.0 | 222.7 | 272.4 | 283.0 | 349.7 | +23.5% | |
| Total current liabilities | 6.0 | 3.0 | 7.9 | 8.8 | 938.7 | 1,159.0 | +23.5% | |
| Long-term debt | 181.7 | 234.3 | 344.6 | 355.4 | 403.3 | 445.4 | +10.4% | |
| Total debt | 181.7 | 284.6 | 339.0 | 359.5 | 689.5 | 798.4 | +15.8% | |
| Net debt | 157.9 | 263.3 | 310.4 | 187.6 | 521.2 | 637.5 | +22.3% | |
| Deferred revenue | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | — | |
| Total liabilities | 1,458.5 | 1,525.3 | 1,632.3 | 1,760.5 | 1,900.5 | 2,151.4 | +13.2% | |
| Total equity | 145.6 | 149.8 | 159.5 | 166.3 | 168.4 | 178.4 | +5.9% | |
| Retained earnings | 58.8 | 68.2 | 73.3 | 76.0 | 82.0 | (0.1) | −100.1% |
Amounts are shown in the stated units; per-share amounts and shares are unscaled. Negative amounts are in brackets.
Statements are reported in BRL; the shares trade in USD.
