Consolidated Balance Sheet

NOK million	Note no.	IFRS 31 December 2025	IFRS 31 December 2024
Assets
Non-current assets
Tangible fixed assets	2	825.3	773.2
Investment property		161.5	157.0
Intangible assets	2	15.2	18.0
Deferred tax assets	5	1.3	1.3
Long-term derivatives and power contracts	6	17.0	24.9
Investment in associate (financial investment before 9 March 2023)	12	1,247.0	1,157.5
Other long-term receivables		0.1	0.2
Total non-current assets		2,267.4	2,132.1
Current assets
Inventories		393.0	362.4
Customer and other short-term receivables		205.4	358.8
Short-term derivatives and power contracts	6	14.5	7.2
Cash and cash equivalents		36.4	51.4
Total current assets		649.2	779.7
Total assets		2,916.6	2,911.8
Equity
Shareholder's equity
Share capital and share premium	4	52.7	52.7
Other equity not recognised in P&L		28.7	25.9
Retained earnings		942.1	833.9
Total equity		1,023.5	912.5
Liabilities
Non-current liabilities
Long-term loans	10	784.1	816.7
Long-term leasing obligations	10	44.5	41.4
Deferred tax	5	106.7	104.5
Total non-current liabilities		935.3	962.6
Current liabilities
Trade payables and other current liabilities		488.9	463.6
Tax payable	5	7.4	14.0
Short-term loans	10	443.6	537.8
Short-term leasing obligations	10	18.0	21.3
Total current liabilities		957.9	1,036.7
Total liabilities		1,893.2	1,999.3
Total equity and liabilities		2,916.6	2,911.8
Of which net interest-bearing debt (long-term and short-term) incl. leasing obligations and sale leaseback	10	1,253.8	1,365.8
Of which net interest-bearing debt (long-term and short-term) ex. leasing obligations and sale leaseback	10	951.9	1,074.1

Interim report Q4 2025People Green Innovation Technology