Raport z Przeglądu Skróconego Śródrocznego Skonsolidowanego Sprawozdania Finansowego: 2025

The independent auditor’s review of the interim consolidated financial statements for PCF Group S.A. covers the first half of the 2025 fiscal year, ending June 30, 2025. Conducted by Grant Thornton Polska, the review evaluates the financial position, results, and cash flows of the Warsaw-based capital group. The assessment was performed in accordance with International Accounting Standard 34 and National Review Standard 2410, focusing on analytical procedures and inquiries rather than a full-scale audit.

The findings indicate that the financial statements are prepared in all material respects according to established European Commission regulations. However, the analysis highlights two critical areas of financial uncertainty that do not modify the auditor’s final conclusion but warrant significant attention. First, there is a noted risk regarding the impairment testing of a cash-generating unit valued at 101.05 million PLN. This unit consists of capitalized development costs for a new game intended for self-publishing. The auditor emphasizes uncertainty regarding the underlying cash flow projections, specifically the potential for actual sales figures to deviate from forecasts following the game’s early access launch.

Second, the review identifies uncertainty regarding the realization of deferred tax assets totaling 53.54 million PLN. This concern stems from the group’s current five-year tax result forecasts, which reflect an inability to execute the corporate strategy in its previous form. These points underscore a transitional or challenging period for the group’s development and publishing model. The review concludes that while the financial reporting is compliant, the group faces specific risks related to the commercial performance of its intellectual property and the long-term viability of its tax assets under a shifting strategic framework.