Metric	FY2016 Dec 2016	FY2017 Dec 2017	FY2018 Dec 2018	FY2019 Dec 2019	FY2020 Dec 2020	FY2021 Dec 2021	FY2022 Dec 2022	FY2023 Dec 2023	FY2024 Dec 2024	FY2025 Dec 2025
Cash & Cash Equivalents	389.2m	397m	655m	468.6m	1.3B	1.6B	2.2B	2.7B	3.3B	4.4B
Cash	192.3m	251.3m	561.6m	372.7m	1B	1.2B	2.1B	2.4B	2.9B	4B
Cash Equivalents	196.9m	145.7m	93.4m	95.9m	228.9m	459.8m	159.5m	312.3m	399m	415.7m
Short-Term Investments	527.9m	191.1m	181.2m	227.7m	141.9m	171.5m	323.2m	260.7m	190.4m	289.4m
Total Receivables	537.2m	421.4m	255.2m	389.9m	859.8m	1.4B	979.6m	999.3m	1.2B	1.4B
Accounts Receivables	8.5m	7.6m	15.5m	12.2m	14m	26.2m	25.2m	21.7m	25.1m	25.3m
Other Receivables	528.7m	413.8m	239.7m	377.6m	845.8m	1.3B	954.5m	977.6m	1.2B	1.4B
Inventory	334k	113k	188k	99k	8k	7k	6k	392k	590k	100k
Other Current Assets	—	—	1k	(1k)	—	—	—	—	(1k)	100k
Total Current Assets	1.5B	1B	1.1B	1.1B	2.3B	3.2B	3.5B	4B	4.7B	6.1B
PP&E Net	5.6m	7m	7.6m	16.3m	32.9m	34.1m	47.2m	51.8m	55.4m	50.3m
PP&E Gross	5.6m	7m	7.6m	16.3m	32.9m	34.1m	47.2m	51.8m	55.4m	50.3m
Accumulated Depreciation	(14.6m)	(10.9m)	(14m)	(19.9m)	(26.4m)	(33.4m)	(45.7m)	(53.5m)	(61.8m)	(75.3m)
Intangible Assets	28.6m	34.2m	46.1m	56.2m	206.1m	205.5m	221m	236.1m	244.3m	254.6m
Goodwill	28.8m	28.8m	36.6m	36.6m	183.4m	181.1m	181.1m	180.6m	180.6m	180.6m
Note Receivable	8.7m	26.5m	41.1m	69.4m	62.9m	22.1m	961k	948k	889k	200k
Long-Term Investments	790k	951k	1.1m	1.3m	76.1m	88.3m	113.7m	99.4m	170.8m	824.1m
Other Long-Term Assets	7m	382k	(1k)	(1k)	—	1.3m	1.4m	0	1k	(200k)
Other Assets	28.8m	28.8m	36.6m	36.6m	183.4m	181.1m	181.1m	180.6m	180.6m	180.6m
Total Assets	1.5B	1.1B	1.2B	1.3B	2.8B	3.7B	4.1B	4.5B	5.4B	7.4B
Accounts Payable	5.8m	963k	2.8m	5.6m	10.5m	3.4m	3.7m	5.7m	4.8m	8.9m
Accrued Liabilities	3.7m	1.8m	657k	559k	119k	495k	921k	2.3m	1.2m	500k
Short-Term Debt	1.4B	946.1m	1B	1B	2.2B	3B	3.3B	3.7B	4.4B	6.3B
Current Portion of Long-Term Debt	—	—	—	—	—	(1k)	—	—	13.8m	13.1m
Other Current Liabilities	18.8m	16.5m	13.9m	16.4m	84m	89.4m	73m	72.2m	117.5m	114.5m
Total Current Liabilities	1.4B	965.3m	1B	1B	2.3B	3.1B	3.4B	3.8B	4.5B	6.4B
Long-Term Debt	3.9m	19.4m	15.8m	17.2m	28.7m	29.2m	42.6m	45.5m	36.2m	31.9m
Deferred Income Tax	3.3m	2.8m	8.3m	10.5m	32.8m	19.9m	40.9m	50.3m	50.4m	50.6m
Minority Interest	15.1m	0	490k	512k	528k	536k	653k	0	0	0
Other Liabilities	7.5m	7.2m	6.3m	11m	29.9m	86.1m	41.5m	17.2m	16.3m	23.5m
Total Liabilities	1.5B	994.7m	1.1B	1.1B	2.4B	3.2B	3.5B	3.9B	4.6B	6.5B
Common Stock	16.8m	17.5m	18.7m	19.6m	27.3m	109.8m	109.9m	110m	110.1m	110.1m
Retained Earnings	7.3m	25.9m	43.5m	53.7m	112.7m	162.4m	267m	333.5m	440.3m	595.5m
Additional Paid In Capital	49.7m	67.5m	101.4m	106.9m	310.9m	230.3m	230.7m	231m	233.4m	238.7m
Unrealized Security Profit/Loss	(247k)	24k	(2.5m)	(35k)	(1.3m)	(1.1m)	(2.9m)	(629k)	(58k)	(1.5m)
Treasury Stock	—	—	—	—	—	—	—	—	(28.7m)	(51.1m)
Other Equity	2m	1.8m	2.1m	1.6m	(4.3m)	(2.6m)	3m	(230k)	(439k)	2.1m
Total Equity	75.6m	112.7m	163.2m	181.7m	445.3m	498.8m	607.6m	673.6m	754.7m	893.8m
Total Liabilities & Equity	1.5B	1.1B	1.2B	1.3B	2.8B	3.7B	4.1B	4.5B	5.4B	7.4B
Common Shares Outstanding	67.2m	70m	74.9m	78.4m	109.1m	109.8m	109.9m	110m	108m	107m

flatexDEGIRO AG XMUN:FTK

A fast-growing, capital-funded brokerage with expanding margins but negative cash conversion

A profitable securities franchise spanning investments, lending, and brokerage

Growing brokerage earnings pair operating leverage with working-capital-sensitive cash conversion

Trading-book earnings make profits sensitive to activity and market volatility

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flatexDEGIRO AG
XMUN:FTK