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v3.25.4

Investments in associates and joint ventures (Details 4) - BRL (R$) R$ in Thousands | Dec. 31, 2025 | Dec. 31, 2024
--- | --- | ---
Notes and other explanatory information [abstract] |  |
Balance at the beginning of the fiscal year | R$ 975,731 | R$ 878,944
Change in corporate participation |  |
Addition/(disposal) |  | 186
Capital decreases/reduction |  |
Equity method results | 135,501 | 91,947
Dividends | (279,091) | (81,467)
Adjustment to fair value | 34,854 | 86,121
Balance at the end of the fiscal year | 866,995 | 975,731
Significant Influence of Banco Santander |  |
Balance at beginning of year | 2,664,444 | 730,836
Change in corporate participation | 70,388 |
Equity method results | 322,812 | 221,039
Dividends | (347,427) | (297,832)
Addition/(disposal) (1) | 7,500 | 2,011,369
Capital decreases/reduction | 28 | (2,364)
(-) Amortization | (94,543) |
Adjustment to fair value | (1,142) | 1,396
Balance at the end of the fiscal year | R$ 2,650,098 | R$ 2,664,444

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