v3.26.1
NET FINANCIAL RESULT (Tables)
 12 Months Ended
Dec. 31, 2025
Notes and other explanatory information [abstract]  
Disclosure of finance income (cost)
12/31/202512/31/202412/31/2023
Financial expenses
Interest on loans, financing and debentures (1)

(5,679,047)
(4,453,739)
(3,636,730)
Premium expenses on early settlements
(110,060)
 
Amortization of transaction costs

(101,926)
(80,099)
(67,353)
Interest expenses on lease liabilities (2)

(467,879)
(451,148)
(441,596)
Other

(524,843)
(556,917)
(513,483)
(6,883,755)
(5,541,903)
(4,659,162)
Financial income

Cash and cash equivalents and marketable securities

1,584,056 
1,598,111 
1,668,408 
Other
182,570 
139,323 
157,241 
1,766,626 
1,737,434 
1,825,649 
Results from derivative financial instruments

Income

10,033,761 
2,669,394 
10,149,730 
Expenses
(2,705,077)
(11,782,077)
(4,623,016)
7,328,684 
(9,112,683)
5,526,714 
Monetary and exchange rate variations, net

Exchange rate variations on loans, financing and debentures

8,384,101 
(17,728,324)
4,185,675 
Leases
304,959 
(613,124)
180,112 
Other assets and liabilities (3)
(1,138,450)
2,456,455 
(1,278,060)
7,550,610 
(15,884,993)
3,087,727 
Net financial result
9,762,165 
(28,802,145)
5,780,928 
(1)Excludes R$274,731 arising from capitalized loan costs, substantially related to property, plant and equipment in progress of the Cerrado Project for the year ended December 31, 2025 (R$959,968 as at December 31, 2024 and R$1,160,364 as at December 31,2023).
(2)On December 31, 2024, the balance of R$19 relating to transaction costs with loans and financing was recognized directly in the income statement.
(3)Includes R$265,463 referring to the reclassification to the biological assets item for the composition of the formation cost (R$249,135 as of December 31, 2024 and R$223,055 as of December 31, 2023).
(4)Includes effects of exchange rate variations of trade accounts receivable, trade accounts payable, cash and cash equivalents, marketable securities and others.