v3.26.1
STATEMENT OF CASH FLOWS - BRL (R$)
R$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Operating activities      
Profit before income tax and social contribution R$ 4,560,011 R$ 3,622,463 R$ 3,184,033
 Adjustments to reconcile income to net cash generated by operating activities:      
Depreciation and amortization 7,077,687 7,026,035 7,117,028
Share of loss of an associate 107,800 82,526 89,304
Residual value of written-off property, plant and equipment and intangible written off 14,818 13,887 93,304
Interest on asset retirement obligation 2,982 12,400 38,355
Provision for legal and administrative proceedings 267,041 276,811 323,015
Inflation adjustment on judicial deposits and legal and administrative proceedings 59,824 175,946 257,057
Interest, monetary and exchange rate variations on loans and other financing 774,861 749,515 668,360
Finance income from marketable securities (361,735) (181,717) (83,204)
Interest on lease liabilities 1,617,383 1,432,764 1,062,251
Interest income on lease receivable (28,955) (28,428) (28,041)
Gain from the acquisition of Cozani (303,435)
Provision for expected credit losses 765,783 693,122 639,692
Income from operations with other derivatives 165,780
Long-term incentive plans 16,998 22,354 (24,291)
 Total adjustments to reconcile income with net cash from operations 15,040,278 13,897,678 13,033,428
Reduction (increase) in working capital assets      
Trade accounts receivable (988,139) (1,605,774) (867,369)
Recoverable taxes, fees and contributions 10,725 344,110 85,982
Inventories (63,675) 38,254 (95,666)
Prepaid expenses (107,468) (184,736) (18,295)
Judicial deposits 31,073 32,242 749,336
Other assets (49,159) 90,931 (70,677)
Increase (decrease) in working capital liabilities      
Payroll and related charges 8,015 (33,092) 12,648,840
Suppliers 185,370 304,243 353,319
Taxes, fees and contributions payable 484,799 375,228 617,975
Authorizations payable (59,018) (163,612) (246,836)
Payments for legal and administrative proceedings   (362,163) (318,796) (343,444)
Deferred revenues (74,156) (61,135) (31,028)
Other liabilities (303,967) (294,106) (560,692)
Cash generated by operations 13,752,515 12,421,435 12,648,840
Income tax and social contribution paid (312,446) (89,892) (228,184)
Net cash from operating activities 13,440,069 12,331,543 12,420,656
Investment activities      
Proceeds from the sale of marketable securities 8,002,980 7,196,354 3,313,983
Purchases of marketable securities (7,492,217) (7,492,880) (2,998,654)
Capital contribution to 5G Fund (84,984) (131,348) (53,763)
Consideration for the acquisition of Cozani, net of cash acquired (443,096)
Additions to property, plant and equipment and intangible assets (4,541,495) (4,550,379) (4,504,314)
Cash received from C6 Bank 520,000
Other 35,095 24,381 2,306
Net cash used in investment activities (3,560,621) (4,953,872) (4,683,538)
Financing activities      
Proceeds from loans and financing 503,351
Amortization of loans and financing (387,312) (1,413,497) (1,197,950)
Interest paid on loans and financing (106,401) (143,518) (205,507)
Payment of lease liability (1,563,393) (1,838,667) (1,812,508)
Interest paid on lease liabilities (1,646,393) (1,460,208) (1,420,557)
Cash received from reverse stock split and stock split operations 455,691
Payments for reverse stock split and stock split operations (79,233)
Lease incentives received 77,918 89,431
Derivative financial instruments (170,393) (168,652) (393,628)
Purchase of treasury shares, net of disposals (748,268) (45,004) (2,821)
Dividends and interest on capital paid (5,360,083) (2,720,095) (2,174,929)
Net cash used in financing activities (9,527,867) (7,196,859) (7,207,900)
Increase in cash and cash equivalents 351,581 180,812 529,218
Cash and cash equivalents at the beginning of the year 3,258,743 3,077,931 2,548,713
Cash and cash equivalents at the end of the year R$ 3,610,324 R$ 3,258,743 R$ 3,077,931