MAIN ARTICLES OF PROFIT & LOSS STATEMENT
| EUR thousand | 12M 2025 | 12M 2024 |
| Revenue from strategic business | 20,268 | 14,055 |
| Profit from strategic business (including net changes in fair value) | 8,830 | 17,846 |
| Profit from other investments | 32,771 | 29,675 |
| Operating profit | 42,351 | 48,109 |
| Net profit (Group & Company) | 47,104 | 44,384 |
NET ASSET VALUE BREAKDOWN
| EUR thousand | 31/12/2025 | 31/12/2024 |
| Investments | 254,529 | 242,567 |
| Cash & cash equivalents | 12,086 | 2,467 |
| Other assets | 982 | 367 |
| Total assets | 267,597 | 245,401 |
| Total liabilities | -11,405 | -23,360 |
| NET ASSET VALUE | 256,192 | 222,041 |
| NET ASSET VALUE PER SHARE | 21,25 | 18,48 |
FINANCIAL RATIOS
| 31/12/2025 | 31/12/2024 | |
| Return on Equity (ROE), trailing 12 months, % | 19.7 | 22.2 |
| Debt – equity ratio | 0.07 | 0.11 |
| Earnings per share (EPS), EUR | 3.91 | 3.69 |
| Price to Book (P/B) | 1.11 | 1.02 |
The definitions of the used indicators and the calculation methodology are provided on the company’s website Formulas of performance indicators – Invalda INVL