<xbrl xmlns="http://www.xbrl.org/2003/instance" xmlns:fi_MC="http://www.suomi.fi/xbrl/crr/dict/dom/MC" xmlns:fi_RF="http://www.suomi.fi/xbrl/crr/dict/dom/RF" xmlns:fi_SC="http://www.suomi.fi/xbrl/crr/dict/dom/SC" xmlns:fi_dim="http://www.suomi.fi/xbrl/crr/dict/dim" xmlns:fi_met="http://www.suomi.fi/xbrl/crr/dict/met" xmlns:iso4217="http://www.xbrl.org/2003/iso4217" xmlns:link="http://www.xbrl.org/2003/linkbase" xmlns:negated="http://www.xbrl.org/2009/role/negated" xmlns:net="http://www.xbrl.org/2009/role/net" xmlns:nonnum="http://www.xbrl.org/dtr/type/non-numeric" xmlns:num="http://www.xbrl.org/dtr/type/numeric" xmlns:vk_mod_oytp_gaap_ind="http://www.valtiokonttori.fi/xbrl/crr/fws/oytp/kpl-2016-12/2019-03-28/mod/oytp_gaap_ind" xmlns:xbrldi="http://xbrl.org/2006/xbrldi" xmlns:xbrldt="http://xbrl.org/2005/xbrldt" xmlns:xbrli="http://www.xbrl.org/2003/instance" xmlns:xl="http://www.xbrl.org/2003/XLink" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:xsd="http://www.w3.org/2001/XMLSchema" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xsi:schemaLocation="http://xbrl.org/2006/xbrldi xbrldi-2006.xsd">
    <link:schemaRef xlink:href="http://www.valtiokonttori.fi/fi/fr/xbrl/crr/fws/oytp/kpl-2016-12/2019-03-28/mod/oytp_gaap_ind.xsd" xlink:type="simple"/>
    <context id="_ctx1">
        <entity>
            <identifier scheme="http://ytj.fi">0907162-2</identifier>
        </entity>
        <period>
            <instant>2025-12-31</instant>
        </period>
    </context>
    <context id="_ctx2">
        <entity>
            <identifier scheme="http://ytj.fi">0907162-2</identifier>
        </entity>
        <period>
            <instant>2025-12-31</instant>
        </period>
        <scenario>
            <xbrldi:explicitMember dimension="fi_dim:MCY">fi_MC:x520</xbrldi:explicitMember>
        </scenario>
    </context>
    <context id="_ctx35">
        <entity>
            <identifier scheme="http://ytj.fi">0907162-2</identifier>
        </entity>
        <period>
            <instant>2024-12-31</instant>
        </period>
        <scenario>
            <xbrldi:explicitMember dimension="fi_dim:MCY">fi_MC:x520</xbrldi:explicitMember>
        </scenario>
    </context>
    <context id="_ctx3">
        <entity>
            <identifier scheme="http://ytj.fi">0907162-2</identifier>
        </entity>
        <period>
            <instant>2025-12-31</instant>
        </period>
        <scenario>
            <xbrldi:explicitMember dimension="fi_dim:MCY">fi_MC:x6</xbrldi:explicitMember>
        </scenario>
    </context>
    <context id="_ctx36">
        <entity>
            <identifier scheme="http://ytj.fi">0907162-2</identifier>
        </entity>
        <period>
            <instant>2024-12-31</instant>
        </period>
        <scenario>
            <xbrldi:explicitMember dimension="fi_dim:MCY">fi_MC:x6</xbrldi:explicitMember>
        </scenario>
    </context>
    <context id="_ctx5">
        <entity>
            <identifier scheme="http://ytj.fi">0907162-2</identifier>
        </entity>
        <period>
            <instant>2025-12-31</instant>
        </period>
        <scenario>
            <xbrldi:explicitMember dimension="fi_dim:MCY">fi_MC:x8</xbrldi:explicitMember>
        </scenario>
    </context>
    <context id="_ctx38">
        <entity>
            <identifier scheme="http://ytj.fi">0907162-2</identifier>
        </entity>
        <period>
            <instant>2024-12-31</instant>
        </period>
        <scenario>
            <xbrldi:explicitMember dimension="fi_dim:MCY">fi_MC:x8</xbrldi:explicitMember>
        </scenario>
    </context>
    <context id="_ctx6">
        <entity>
            <identifier scheme="http://ytj.fi">0907162-2</identifier>
        </entity>
        <period>
            <instant>2025-12-31</instant>
        </period>
        <scenario>
            <xbrldi:explicitMember dimension="fi_dim:MCY">fi_MC:x9</xbrldi:explicitMember>
        </scenario>
    </context>
    <context id="_ctx39">
        <entity>
            <identifier scheme="http://ytj.fi">0907162-2</identifier>
        </entity>
        <period>
            <instant>2024-12-31</instant>
        </period>
        <scenario>
            <xbrldi:explicitMember dimension="fi_dim:MCY">fi_MC:x9</xbrldi:explicitMember>
        </scenario>
    </context>
    <context id="_ctx7">
        <entity>
            <identifier scheme="http://ytj.fi">0907162-2</identifier>
        </entity>
        <period>
            <instant>2025-12-31</instant>
        </period>
        <scenario>
            <xbrldi:explicitMember dimension="fi_dim:MCY">fi_MC:x5</xbrldi:explicitMember>
        </scenario>
    </context>
    <context id="_ctx40">
        <entity>
            <identifier scheme="http://ytj.fi">0907162-2</identifier>
        </entity>
        <period>
            <instant>2024-12-31</instant>
        </period>
        <scenario>
            <xbrldi:explicitMember dimension="fi_dim:MCY">fi_MC:x5</xbrldi:explicitMember>
        </scenario>
    </context>
    <context id="_ctx8">
        <entity>
            <identifier scheme="http://ytj.fi">0907162-2</identifier>
        </entity>
        <period>
            <instant>2025-12-31</instant>
        </period>
        <scenario>
            <xbrldi:explicitMember dimension="fi_dim:MCY">fi_MC:x449</xbrldi:explicitMember>
        </scenario>
    </context>
    <context id="_ctx41">
        <entity>
            <identifier scheme="http://ytj.fi">0907162-2</identifier>
        </entity>
        <period>
            <instant>2024-12-31</instant>
        </period>
        <scenario>
            <xbrldi:explicitMember dimension="fi_dim:MCY">fi_MC:x449</xbrldi:explicitMember>
        </scenario>
    </context>
    <context id="_ctx11">
        <entity>
            <identifier scheme="http://ytj.fi">0907162-2</identifier>
        </entity>
        <period>
            <instant>2025-12-31</instant>
        </period>
        <scenario>
            <xbrldi:explicitMember dimension="fi_dim:MCY">fi_MC:x448</xbrldi:explicitMember>
        </scenario>
    </context>
    <context id="_ctx44">
        <entity>
            <identifier scheme="http://ytj.fi">0907162-2</identifier>
        </entity>
        <period>
            <instant>2024-12-31</instant>
        </period>
        <scenario>
            <xbrldi:explicitMember dimension="fi_dim:MCY">fi_MC:x448</xbrldi:explicitMember>
        </scenario>
    </context>
    <context id="_ctx12">
        <entity>
            <identifier scheme="http://ytj.fi">0907162-2</identifier>
        </entity>
        <period>
            <instant>2025-12-31</instant>
        </period>
        <scenario>
            <xbrldi:explicitMember dimension="fi_dim:MCY">fi_MC:x1869</xbrldi:explicitMember>
        </scenario>
    </context>
    <context id="_ctx45">
        <entity>
            <identifier scheme="http://ytj.fi">0907162-2</identifier>
        </entity>
        <period>
            <instant>2024-12-31</instant>
        </period>
        <scenario>
            <xbrldi:explicitMember dimension="fi_dim:MCY">fi_MC:x1869</xbrldi:explicitMember>
        </scenario>
    </context>
    <context id="_ctx13">
        <entity>
            <identifier scheme="http://ytj.fi">0907162-2</identifier>
        </entity>
        <period>
            <instant>2025-12-31</instant>
        </period>
        <scenario>
            <xbrldi:explicitMember dimension="fi_dim:MCY">fi_MC:x689</xbrldi:explicitMember>
        </scenario>
    </context>
    <context id="_ctx46">
        <entity>
            <identifier scheme="http://ytj.fi">0907162-2</identifier>
        </entity>
        <period>
            <instant>2024-12-31</instant>
        </period>
        <scenario>
            <xbrldi:explicitMember dimension="fi_dim:MCY">fi_MC:x689</xbrldi:explicitMember>
        </scenario>
    </context>
    <context id="_ctx21">
        <entity>
            <identifier scheme="http://ytj.fi">0907162-2</identifier>
        </entity>
        <period>
            <instant>2025-12-31</instant>
        </period>
        <scenario>
            <xbrldi:explicitMember dimension="fi_dim:MCY">fi_MC:x4014</xbrldi:explicitMember>
        </scenario>
    </context>
    <context id="_ctx54">
        <entity>
            <identifier scheme="http://ytj.fi">0907162-2</identifier>
        </entity>
        <period>
            <instant>2024-12-31</instant>
        </period>
        <scenario>
            <xbrldi:explicitMember dimension="fi_dim:MCY">fi_MC:x4014</xbrldi:explicitMember>
        </scenario>
    </context>
    <context id="_ctx26">
        <entity>
            <identifier scheme="http://ytj.fi">0907162-2</identifier>
        </entity>
        <period>
            <instant>2025-12-31</instant>
        </period>
        <scenario>
            <xbrldi:explicitMember dimension="fi_dim:MCY">fi_MC:x4046</xbrldi:explicitMember>
        </scenario>
    </context>
    <context id="_ctx59">
        <entity>
            <identifier scheme="http://ytj.fi">0907162-2</identifier>
        </entity>
        <period>
            <instant>2024-12-31</instant>
        </period>
        <scenario>
            <xbrldi:explicitMember dimension="fi_dim:MCY">fi_MC:x4046</xbrldi:explicitMember>
        </scenario>
    </context>
    <context id="_ctx27">
        <entity>
            <identifier scheme="http://ytj.fi">0907162-2</identifier>
        </entity>
        <period>
            <instant>2025-12-31</instant>
        </period>
        <scenario>
            <xbrldi:explicitMember dimension="fi_dim:MCY">fi_MC:x12</xbrldi:explicitMember>
        </scenario>
    </context>
    <context id="_ctx60">
        <entity>
            <identifier scheme="http://ytj.fi">0907162-2</identifier>
        </entity>
        <period>
            <instant>2024-12-31</instant>
        </period>
        <scenario>
            <xbrldi:explicitMember dimension="fi_dim:MCY">fi_MC:x12</xbrldi:explicitMember>
        </scenario>
    </context>
    <context id="_ctx28">
        <entity>
            <identifier scheme="http://ytj.fi">0907162-2</identifier>
        </entity>
        <period>
            <instant>2025-12-31</instant>
        </period>
        <scenario>
            <xbrldi:explicitMember dimension="fi_dim:MCY">fi_MC:x738</xbrldi:explicitMember>
        </scenario>
    </context>
    <context id="_ctx61">
        <entity>
            <identifier scheme="http://ytj.fi">0907162-2</identifier>
        </entity>
        <period>
            <instant>2024-12-31</instant>
        </period>
        <scenario>
            <xbrldi:explicitMember dimension="fi_dim:MCY">fi_MC:x738</xbrldi:explicitMember>
        </scenario>
    </context>
    <context id="_ctx33">
        <entity>
            <identifier scheme="http://ytj.fi">0907162-2</identifier>
        </entity>
        <period>
            <instant>2025-12-31</instant>
        </period>
        <scenario>
            <xbrldi:explicitMember dimension="fi_dim:MCY">fi_MC:x541</xbrldi:explicitMember>
        </scenario>
    </context>
    <context id="_ctx66">
        <entity>
            <identifier scheme="http://ytj.fi">0907162-2</identifier>
        </entity>
        <period>
            <instant>2024-12-31</instant>
        </period>
        <scenario>
            <xbrldi:explicitMember dimension="fi_dim:MCY">fi_MC:x541</xbrldi:explicitMember>
        </scenario>
    </context>
    <context id="_ctx34">
        <entity>
            <identifier scheme="http://ytj.fi">0907162-2</identifier>
        </entity>
        <period>
            <instant>2025-12-31</instant>
        </period>
        <scenario>
            <xbrldi:explicitMember dimension="fi_dim:MCY">fi_MC:x740</xbrldi:explicitMember>
        </scenario>
    </context>
    <context id="_ctx67">
        <entity>
            <identifier scheme="http://ytj.fi">0907162-2</identifier>
        </entity>
        <period>
            <instant>2024-12-31</instant>
        </period>
        <scenario>
            <xbrldi:explicitMember dimension="fi_dim:MCY">fi_MC:x740</xbrldi:explicitMember>
        </scenario>
    </context>
    <unit id="ISO4217_EUR">
        <measure>iso4217:EUR</measure>
    </unit>
    <fi_met:si168 contextRef="_ctx1">Colorado Baari Oy</fi_met:si168>
    <fi_met:di120 contextRef="_ctx1">2025-01-01</fi_met:di120>
    <fi_met:di121 contextRef="_ctx1">2025-12-31</fi_met:di121>
    <fi_met:si289 contextRef="_ctx1">0907162-2</fi_met:si289>
    <fi_met:md103 contextRef="_ctx2" decimals="2" unitRef="ISO4217_EUR">339252.74</fi_met:md103>
    <fi_met:md103 contextRef="_ctx35" decimals="2" unitRef="ISO4217_EUR">352998.01</fi_met:md103>
    <fi_met:md103 contextRef="_ctx3" decimals="2" unitRef="ISO4217_EUR">188652.39</fi_met:md103>
    <fi_met:md103 contextRef="_ctx36" decimals="2" unitRef="ISO4217_EUR">182266.81</fi_met:md103>
    <fi_met:md103 contextRef="_ctx5" decimals="2" unitRef="ISO4217_EUR">30080.50</fi_met:md103>
    <fi_met:md103 contextRef="_ctx38" decimals="2" unitRef="ISO4217_EUR">27889.91</fi_met:md103>
    <fi_met:md103 contextRef="_ctx6" decimals="2" unitRef="ISO4217_EUR">8825.89</fi_met:md103>
    <fi_met:md103 contextRef="_ctx39" decimals="2" unitRef="ISO4217_EUR">6754.12</fi_met:md103>
    <fi_met:md103 contextRef="_ctx7" decimals="2" unitRef="ISO4217_EUR">227558.78</fi_met:md103>
    <fi_met:md103 contextRef="_ctx40" decimals="2" unitRef="ISO4217_EUR">216910.84</fi_met:md103>
    <fi_met:md103 contextRef="_ctx8" decimals="2" unitRef="ISO4217_EUR">9637.60</fi_met:md103>
    <fi_met:md103 contextRef="_ctx41" decimals="2" unitRef="ISO4217_EUR">11466.08</fi_met:md103>
    <fi_met:md103 contextRef="_ctx11" decimals="2" unitRef="ISO4217_EUR">9637.60</fi_met:md103>
    <fi_met:md103 contextRef="_ctx44" decimals="2" unitRef="ISO4217_EUR">11466.08</fi_met:md103>
    <fi_met:md103 contextRef="_ctx12" decimals="2" unitRef="ISO4217_EUR">95539.46</fi_met:md103>
    <fi_met:md103 contextRef="_ctx45" decimals="2" unitRef="ISO4217_EUR">103781.28</fi_met:md103>
    <fi_met:md103 contextRef="_ctx13" decimals="2" unitRef="ISO4217_EUR">6516.90</fi_met:md103>
    <fi_met:md103 contextRef="_ctx46" decimals="2" unitRef="ISO4217_EUR">20839.81</fi_met:md103>
    <fi_met:md103 contextRef="_ctx21" decimals="2" unitRef="ISO4217_EUR">161.52</fi_met:md103>
    <fi_met:md103 contextRef="_ctx54" decimals="2" unitRef="ISO4217_EUR">130.89</fi_met:md103>
    <fi_met:md103 contextRef="_ctx26" decimals="2" unitRef="ISO4217_EUR">687.18</fi_met:md103>
    <fi_met:md103 contextRef="_ctx59" decimals="2" unitRef="ISO4217_EUR">519.37</fi_met:md103>
    <fi_met:md103 contextRef="_ctx27" decimals="2" unitRef="ISO4217_EUR">525.66</fi_met:md103>
    <fi_met:md103 contextRef="_ctx60" decimals="2" unitRef="ISO4217_EUR">388.48</fi_met:md103>
    <fi_met:md103 contextRef="_ctx28" decimals="2" unitRef="ISO4217_EUR">5991.24</fi_met:md103>
    <fi_met:md103 contextRef="_ctx61" decimals="2" unitRef="ISO4217_EUR">20451.33</fi_met:md103>
    <fi_met:md103 contextRef="_ctx33" decimals="2" unitRef="ISO4217_EUR">1243.44</fi_met:md103>
    <fi_met:md103 contextRef="_ctx66" decimals="2" unitRef="ISO4217_EUR">4095.21</fi_met:md103>
    <fi_met:md103 contextRef="_ctx34" decimals="2" unitRef="ISO4217_EUR">4747.80</fi_met:md103>
    <fi_met:md103 contextRef="_ctx67" decimals="2" unitRef="ISO4217_EUR">16356.12</fi_met:md103>
</xbrl>
