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AC Immune SA Balance Sheet 2025-2011 | ACIU
Brief overview of AC Immune SA's balance sheet strength
The review uses the five latest available annual reports between 2021 and 2025.
The asset base decreased -41%, from 261.4 million CHF to 154.3 million CHF. Resources became smaller over the five periods.
Liabilities expanded faster than the asset base, +271.2% versus -41%. Debt-service capacity deserves attention.
The equity ratio is 29.1% versus five periods ago. Capitalization remains workable.
Cash exceeds interest-bearing debt, producing net debt of -22.3 million CHF. The balance sheet therefore carries a net cash position.
The cash reserve occupies 17.4% of the balance sheet, previously 31.4%. It is one marker of short-term resilience.
The balance sheet carries negative retained earnings of -439 million CHF. The figure may result from accumulated losses or an active capital return policy.
Balance sheet takeaway
AC Immune SA's financial structure is not clear-cut. Asset scale alone does not resolve questions about how those assets are funded.
Annual Balance Sheet AC Immune SA
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Net Debt |
-22.3 M | -30.8 M | -75 M | -28.8 M | - | - | -191 M | -156 M | -124 M | -152 M | -76.5 M | -3.31 M | - | - | - |
Long Term Debt |
3.69 M | 4.4 M | 2.82 M | 2.25 M | - | - | 1.81 M | 186 K | 395 K | - | - | - | - | - | - |
Long Term Debt Current |
852 K | 1.03 M | 672 K | 548 K | 570 K | 443 K | 442 K | - | - | - | - | - | - | - | - |
Total Non Current Liabilities |
14.7 M | 17.8 M | 8.6 M | 5.47 M | - | 9.24 M | 9.3 M | 5.85 M | 5.42 M | 3.8 M | 2.79 M | 2.41 M | - | - | - |
Total Liabilities |
109 M | 119 M | 22.2 M | 16.9 M | 29.5 M | 23.3 M | 26.8 M | 18.9 M | 15.2 M | 13.7 M | 8.89 M | 6.83 M | - | - | - |
Deferred Revenue |
- | - | - | - | - | 306 K | 4.48 M | 351 K | 355 K | 521 K | - | 205 K | - | - | - |
Retained Earnings |
-439 M | -368 M | -316 M | -264 M | - | -133 M | -75.5 M | -122 M | -72.6 M | -46.9 M | -40.4 M | -60.5 M | - | - | - |
Total Assets |
154 M | 231 M | 183 M | 186 M | 261 M | 239 M | 299 M | 197 M | 132 M | 156 M | 79.9 M | 30.3 M | - | - | - |
Cash and Cash Equivalents |
26.8 M | 36.3 M | 78.5 M | 31.6 M | 82.2 M | 161 M | 194 M | 156 M | 124 M | 152 M | 76.5 M | - | - | - | - |
Book Value |
44.9 M | 112 M | 161 M | 169 M | 232 M | 215 M | 272 M | 178 M | 117 M | 142 M | 71 M | 23.5 M | - | - | - |
Total Shareholders Equity |
44.9 M | 112 M | 161 M | 169 M | - | 215 M | 272 M | 178 M | 117 M | 142 M | 71 M | - | - | - | - |
All numbers in CHF currency
Quarterly Balance Sheet AC Immune SA
| 2025-Q4 | 2025-Q2 | 2024-Q4 | 2024-Q2 | 2023-Q4 | 2023-Q2 | 2022-Q4 | 2022-Q3 | 2022-Q2 | 2022-Q1 | 2021-Q4 | 2021-Q3 | 2021-Q2 | 2021-Q1 | 2020-Q4 | 2020-Q3 | 2020-Q2 | 2020-Q1 | 2019-Q4 | 2019-Q3 | 2019-Q2 | 2019-Q1 | 2018-Q4 | 2018-Q3 | 2018-Q2 | 2018-Q1 | 2017-Q4 | 2017-Q3 | 2017-Q2 | 2017-Q1 | 2016-Q4 | 2016-Q3 | 2016-Q2 | 2016-Q1 | 2015-Q4 | 2015-Q3 | 2015-Q2 | 2015-Q1 | 2014-Q4 | 2014-Q3 | 2014-Q2 | 2014-Q1 | 2013-Q4 | 2013-Q3 | 2013-Q2 | 2013-Q1 | 2012-Q4 | 2012-Q3 | 2012-Q2 | 2012-Q1 | 2011-Q4 | 2011-Q3 | 2011-Q2 | 2011-Q1 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Long Term Debt |
3.69 M | 3.88 M | 4.4 M | 2.54 M | 2.82 M | 1.98 M | - | - | - | - | 2.34 M | - | - | - | 1.78 M | - | - | - | 1.81 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Total Non Current Liabilities |
14.7 M | 16.5 M | 17.8 M | 13.6 M | 8.6 M | 5.75 M | - | - | - | - | 9.44 M | - | - | - | 9.24 M | - | - | - | 9.3 M | - | - | - | 5.85 M | - | - | - | 5.42 M | - | - | - | 3.8 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Total Liabilities |
109 M | 115 M | 119 M | 114 M | 22.2 M | 16.9 M | - | - | - | - | 29.5 M | - | - | - | 23.3 M | - | - | - | 26.8 M | - | - | - | 18.9 M | - | - | - | 15.2 M | - | - | - | 13.7 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Retained Earnings |
-439 M | -407 M | -368 M | -355 M | -316 M | -296 M | - | - | - | - | -201 M | - | - | - | -133 M | - | - | - | -75.5 M | - | - | - | -122 M | - | - | - | -72.6 M | - | - | - | -46.9 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Total Assets |
154 M | 190 M | 231 M | 238 M | 183 M | 156 M | - | - | - | - | 261 M | - | - | - | 239 M | - | - | - | 299 M | - | - | - | 197 M | - | - | - | 132 M | - | - | - | 156 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Cash and Cash Equivalents |
26.8 M | 25.7 M | 36.3 M | 51.6 M | 78.5 M | 40 M | - | - | - | - | 82.2 M | - | - | - | 161 M | - | - | - | 194 M | - | - | - | 156 M | - | - | - | 124 M | - | - | - | 152 M | - | - | - | 76.5 M | - | - | - | 3.31 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Book Value |
44.9 M | 74.7 M | 112 M | 123 M | 161 M | 139 M | - | - | - | - | 232 M | - | - | - | 215 M | - | - | - | 272 M | - | - | - | 178 M | - | - | - | 117 M | - | - | - | 142 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Total Shareholders Equity |
44.9 M | 74.7 M | 112 M | 123 M | 161 M | 139 M | - | - | - | - | 232 M | - | - | - | 215 M | - | - | - | 272 M | - | - | - | 178 M | - | - | - | 117 M | - | - | - | 142 M | - | - | - | 71 M | - | - | - | 23.5 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
All numbers in CHF currency
Balance Sheet is a fundamental financial report of AC Immune SA, providing a complete picture of the company’s financial position at a specific point in time. Unlike the income statement, which records the results of operations over a certain period, the balance sheet shows what assets the company owns, what liabilities it has to creditors, and what equity is available to the owners.
For an investor, the balance sheet is important because it allows assessing the company’s financial stability, understanding how much debt it carries, and how dependent it is on borrowed financing. It helps calculate key liquidity and leverage ratios. When analyzing, attention should be paid to the debt-to-equity ratio (Debt/Equity), the amount of cash on the balance sheet, and the ratio of current liabilities to liquid assets.
Features of balance sheet analysis- Vertical and horizontal analysis
Vertical analysis shows the structure of the balance sheet as a percentage of total assets or liabilities, while horizontal analysis shows the dynamics of changes over multiple periods. - Asset quality
It is important to evaluate not only the amount of assets but also their liquidity and realizability. - Accounting for off-balance sheet liabilities
Some liabilities may not be directly reflected in the balance sheet, which requires additional attention.
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