v3.26.1
FINANCIAL INSTRUMENTS AND RISK MANAGEMENT - Management of Capital Risk (Details) - BRL (R$)
R$ in Thousands
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Disclosure of detailed information about financial instruments [abstract]        
Total loans, financing and debentures R$ 74,295,764 R$ 75,620,574    
(+) Derivative financial instruments - debt protection 728,646 (974,381)    
(-) Marketable securities (11,856,515) (9,385,179)    
(-) Cash and cash equivalents (16,417,860) (26,572,522) R$ (13,046,371) R$ (10,739,126)
Net debt 46,750,035 38,688,492    
(+) Total shareholders’ equity 118,501,657 121,999,776 R$ 112,464,643 R$ 111,028,636
Total Capital R$ 165,251,692 R$ 160,688,268    
Financial leverage index (%) 28.00% 24.00%