TABLE OF CONTENTS
BALANCE SHEET 4
PROFIT AND LOSS STATEMENT (CALCULATION VARIANT) 8
CASH FLOW STATEMENT (INDIRECT METHOD) 9
CASH FLOW STATEMENT (INDIRECT METHOD) (CONT.) 10
STATEMENT OF EQUITY (FUND) CHANGES 11
STATEMENT OF EQUITY CHANGES (CONT.) 12
INTRODUCTION TO THE FINANCIAL STATEMENT 13
General information about the Company 13
Composition of the Management Board 13
Description and clarification of differences in the disclosed data and significant differences regarding the adopted accounting principles (policy) between the statement and comparable data, as well as the statement and the comparable data developed acc. to the
IAS. 13
Going concern assumption 15
Merger of commercial companies 16
ADOPTED ACCOUNTING PRINCIPLES (POLICY) 16
ADDITIONAL INFORMATION AND EXPLANATIONS TO THE FINANCIAL STATEMENT 25
Information on significant events related to previous years, included in the financial year financial statement 25
Information on significant events after the balance sheet date and not recognized in the
FINANCIAL STATEMENT 25
Changes in the accounting principles (policy) in the financial year 25
Error adjustment and comparative data restatement 25
Comparability of financial data for the preceding period with the statement for the
CURRENT PERIOD 25
Intangible assets 27
Tangible fixed assets 29
Tangible fixed asset impairment test 31
Investments 32
Long-term investments 32
Short-term investments 34
Short-term receivables 34
Prepayments 35
Capitals 35
Division of profit / loss coverage 36
Previous year loss coverage 36
Current year profit distribution 36
Provisions 37
Receivable impairment write-downs 39
Short-term liabilities 39
Liabilities secured with the entity's assets 39
Contingent liabilities 40
Other contracts not included in the balance sheet 41
Sales by type and territory 41
Impairment write-downs against tangible assets 41
Interest and exchange rate differences that increased the good acquisition price or goods production cost during the financial year 42
Inventories 42
Information on revenues, costs and results of discontinued activities in the financial year
OR PLANNED TO BE DISCONTINUED IN THE FOLLOWING YEAR 42
Income tax 42
Costs by type 45
Other operating revenues 45
Other operating costs 45
Financial revenues 46
Financial costs 46
Capital work in progress production cost 46
Revenues and costs of extraordinary value or incidental 46
Structure of cash accepted to the cash flow statement 47
Reasons behind differences between changes in certain balance sheet items and changes of
THE SAME ITEMS DISCLOSED IN THE CASH FLOW STATEMENT 47
Information on average employment divided into occupational groups 48
Information on audit company remuneration, paid or due for the financial year 48
Information on remuneration, together with remuneration on profit and pensions paid or
DUE TO PERSONS MAKING UP MANAGEMENT AND SUPERVISORY BODIES 49
Information on loans and benefits similar in nature granted to persons making up
MANAGEMENT AND SUPERVISORY BODIES 49
Information on joint ventures not subject to consolidation 49
Information on the capital group and transactions with affiliated entities 49
Capital Group 49
Transactions with affiliated entities 51
List of companies with Company's equity interest or 20% of the total number of votes in the company's governing body 51
Information on fulfilling the obligations of Art. 44 of the Energy Law act 52
Goals and rules of financial risk management 56
Interest rate risk 56
Credit risk 56
Currency risk 58
War in Ukraine 58
Events after the balance sheet date 58
BALANCE SHEET | ||||
Assets | ||||
Note | as at 31 December 2024 | as at 31 December 2023 | ||
A. Fixed assets | 2 422 186 | 1 883 371 | ||
I. Intangible and legal assets | 6 | 604 090 | 583 441 | |
1. Costs of completed development work | - | - | ||
2. Goodwill | - | - | ||
3. Other intangible and legal assets | 604 090 | 583 441 | ||
4. Advance payment on intangible and legal assets | - | - | ||
II. Tangible fixed assets | 7 | 48 267 | 23 189 | |
1. Tangible assets | 4 165 | 5 973 | ||
a) lands (including the perpetual usufruct of land) | 1 639 | 1 645 | ||
b) buildings, premises, as well as civil and water engineering facilities | 536 | 1 155 | ||
c) technical equipment and machinery | 1 145 | 2 184 | ||
d) means of transport | 27 | 55 | ||
e) other fixed assets | 818 | 934 | ||
2. Capital work in progress | 24 459 | 7 460 | ||
3. Advance payments for capital work in progress | 19 643 | 9 756 | ||
III. Long-term receivables | - | - | ||
1. From affiliates | - | - | ||
2. From other entities, where the entity has equity interests | - | - | ||
3. From other entities | - | - | ||
IV. Long-term investments | 8.1 | 1 764 324 | 1 270 397 | |
1. Real estate | - | - | ||
2. Intangible assets | - | - | ||
3. Long-term financial assets | 1 764 324 | 1 270 397 | ||
a) in affiliates | 1 205 964 | 712 865 | ||
shares or stocks | 908 525 | 543 701 | ||
other securities | - | - | ||
loans granted | 297 439 | 169 164 | ||
other long-term financial assets | - | - | ||
b) in other entities where the entity has equity interest | 558 208 | 557 380 | ||
shares or stocks | 543 502 | 543 502 | ||
other securities | - | - | ||
loans granted | 12 176 | 11 348 | ||
other long-term financial assets | 2 530 | 2 530 | ||
c) in other entities | 152 | 152 | ||
shares or stocks | 152 | 152 | ||
other securities | - | - | ||
loans granted | - | - | ||
other long-term financial assets | - | - | ||
4. Other long-term investments | - | - | ||
V. Long-term prepayments | 10 | 5 505 | 6 344 | |
1. Deferred income tax assets | 4 236 | 3 961 | ||
2. Other prepayments and accruals | 1 269 | 2 383 | ||
B. Current assets | 611 083 | 959 250 | ||
I. Inventories | 22 | 7 990 | 17 008 | |
1. Materials | 7 809 | 17 007 | ||
2. Semi-finished products and products in progress | - | - | ||
3. Finished products | - | - | ||
4. Goods | 177 | - | |||
5. Advance payments for supplies | 4 | 1 | |||
II. Short-term receivables | 9 | 362 633 | 715 483 | ||
1. Receivables from affiliates | 39.2 | 11 743 | 71 677 | ||
a) trade-related, with a payment period of: | 11 743 | 71 677 | |||
up to 12 months | 11 743 | 71 677 | |||
above 12 months | - | - | |||
b) other | - | - | |||
2. | Receivables from other entities where the entity has equity interests | 75 281 | 85 053 | ||
a) trade-related, with a payment period of: | 75 281 | 85 053 | |||
up to 12 months | 75 281 | 85 053 | |||
above 12 months | - | - | |||
b) other | - | - | |||
3. Receivables from other parties | 275 609 | 558 753 | |||
a) trade-related, with a payment period of: | 80 235 | 29 958 | |||
up to 12 months | 80 235 | 29 958 | |||
above 12 months | - | - | |||
b) on account of taxes, subsidies, customs duties, social and | |||||
health insurance, and other benefits | 4 891 | 150 349 | |||
c) other | 190 483 | 378 446 | |||
d) pursued in court | - | - | |||
III. Short-term investments | 8.2 | 240 066 | 223 360 | ||
1. Short-term financial assets | 240 066 | 223 360 | |||
a) in affiliates | - | 1 070 | |||
shares or stocks | - | - | |||
other securities | - | - | |||
loans granted | - | 1 070 | |||
other short-term financial assets | - | - | |||
b) in other entities | - | - | |||
shares or stocks | - | - | |||
other securities | - | - | |||
loans granted | - | - | |||
other short-term financial assets | - | - | |||
c) cash and cash equivalents | 32 | 240 066 | 222 290 | ||
cash in hand and at bank | 240 066 | 222 290 | |||
other cash | - | - | |||
other monetary assets | - | - | |||
2. Other short-term investments | - | - | |||
IV. Short-term prepayments | 10 | 394 | 3 399 | ||
C. Basic capital (fund) contributions due | - | - | |||
D. Equity shares (stocks) | - | - | |||
Total assets | 3 033 269 | 2 842 621 | |||
Konin, 30 April 2025 | |||||