v3.26.1
CASH FLOW STATEMENTS - BRL (R$)
R$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
OPERATING ACTIVITIES      
Profit (Loss) for the year before income tax and social contribution R$ (6,979,950) R$ 10,620,784 R$ 1,396,363
Adjustments to reconcile profit (Loss) to cash generated by operations:      
Depreciation and amortization 4,576,919 3,987,775 3,621,342
Net exchange and monetary changes 2,638,556 3,363,144 3,342,161
Results from acquisitions and divestments 7,229,469 0 0
Financial charges 7,712,001 5,865,332 6,095,390
Result of equity method investments (1,913,039) (2,503,207) (2,062,090)
Other income and expenditure (459,000) (136,540) (651,280)
Transmission revenues (20,115,785) (19,292,579) (17,432,037)
Construction cost – transmission 5,065,204 4,286,914 3,291,132
Regulatory remeasurements – transmission contracts 4,081,630 (6,129,771) 12,144
Operating provisions (reversals) 635,737 (180,019) 2,481,054
Fixed and intangible assets write off (264,277) 157,248 632,441
Results from hedged debt and derivatives 3,335,117 1,940,087 1,521,637
Other 469,521 894,482 637,869
Adjustments to reconcile profit with cash generated by operations 12,992,053 (7,747,134) 1,489,763
(Increases) / decreases in operating assets      
Accounts Receivable, net 223,722 1,111,674 (927,096)
Reimbursement right 918,862 752,350 473,496
Others 455,268 673,834 109,683
(Accruals) / decreases in operating assets 1,597,852 2,537,858 (343,917)
Increases / (decreases) in operating liabilities      
Suppliers 856,267 (614,240) (526,425)
Payroll (358,609) (775,899) (813,498)
Regulatory fees (235,979) 365,508 (280,680)
Others (995,255) (605,675) 55,710
Increases / (decreases) in operating liabilities (733,576) (1,630,306) (1,564,893)
Payment of interests (5,831,609) (6,650,869) (5,512,449)
Receipt of allowed annual revenue – RAP 18,714,804 19,248,186 18,287,910
Receipt of dividends and interest on equity 1,549,021 1,506,336 1,329,703
Payment of judicial contingencies (5,272,014) (3,776,063) (2,672,962)
Securities and restricted deposits (410,453) 195,871 (733,354)
Payment of income tax and social contribution (708,608) (1,488,382) (2,930,778)
Supplementary social security (407,690) (430,698) (510,048)
Net cash provided by operating activities 14,509,830 12,385,583 8,235,338
FINANCING ACTIVITIES      
Loans and borrowings obtained and debentures obtained 8,032,447 29,965,839 11,821,045
Payment of loans and financing and debentures - principal (11,312,024) (16,009,832) (13,763,329)
Payment of dividends and interest on equity (12,186,149) (1,307,858) (864,192)
Payment to dissenting shareholders – merge of shares 0 0 (226,057)
Repurchase of shares (36,728) (115,099) (1,967,218)
Payment of obligations with CDE and revitalization of basins - principal (2,575,565) (1,974,965) (1,433,816)
Payment of leases – principal (50,980) (757,196) (765,525)
Others (962,193) 0 443,961
Net cash from (used in) financing activities (19,091,192) 9,800,889 (6,755,131)
INVESTING ACTIVITIES      
Receipt of loans and financing 447,231 12,675 982,425
Receipt of financial charges 209,698 57,665 172,457
Acquisition of property, plant and equipment (2,065,524) (3,099,474) (3,862,770)
Acquisition of intangible assets (443,199) (425,891) (258,371)
Marketable Securities, net (1,863,470) (3,064,434) 3,143,232
Interest Received - Marketable Securities 740,985 529,802 4,066,478
Acquisition of Debentures 0 0 (450,000)
Transmission infrastructure – contractual asset (4,914,869) (4,286,914) (3,269,358)
Acquisition / capital injection in shareholdings, net of cash acquired (247,695) (176,643) (1,439,478)
Receipt from disposal/acquisition of assets 3,301,759 2,449,160 907,004
Acquisition of subsidiary, net of cash acquired (320,636) 0 0
Other (417,580) (656,267) (116,617)
Net cash used in investing activities of continuing operations (5,573,300) (8,660,321) (124,998)
Net cash provided by investing in activities of discontinued operations 0 0 952,036
Net cash provided by (used in) investing activities (5,573,300) (8,660,321) 827,038
Decrease/Increase in cash and cash equivalents (10,154,662) 13,526,151 2,307,245
Cash and cash equivalents at the beginning of the fiscal year 26,572,522 13,046,371 10,739,126
Cash and cash equivalents at the end of the year 16,417,860 26,572,522 13,046,371
Increase in cash and cash equivalents from discontinued operations R$ 0 R$ 0 R$ 952,036