Cosan S.A. reported a 2025 net loss of R$10.2 billion, worsened from a R$8.2 billion loss in 2024, mainly due to significant impairments and reduced revenues across segments; its net sales revenue fell by 8% to R$40.4 billion. The filing covers the fiscal year ended December 31, 2025, showing challenges in a tough market but also progress in capital structure improvements and debt management.