NATIONAL STEEL CO reported a net revenue of R$ 11.4 billion for Q4 2025, a 3.3% drop from Q3 2025, and a net loss of R$ 721.2 million due to operational idleness; for the full year 2025, revenue increased 2.5%, totaling R$ 44.8 billion. This filing indicates ongoing operational challenges and future strategic plans to enhance financial strength.