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Aeterna Zentaris Balance Sheet 2025-2011 | AEZS
Brief overview of Aeterna Zentaris's balance sheet strength
The review uses the five latest available annual reports between 2021 and 2025.
Assets finished at $21.4 million versus $80.1 million initially, losing -73.2%. The balance sheet contracted.
Liabilities expanded faster than the asset base, -35.1% versus -73.2%. Debt-service capacity deserves attention.
Cash exceeds interest-bearing debt, producing net debt of -$5.2 million. The balance sheet therefore carries a net cash position.
Cash represents 34.1% of assets versus 81.5% initially, showing how the immediate liquidity reserve changed.
The accumulated result is -$20.5 million and remains below zero. The number alone does not explain whether losses, dividends or repurchases were the main cause.
What the balance sheet shows
Aeterna Zentaris's balance sheet presents a mixed picture: strengths coexist with a limited cushion. Future capital and debt trends are particularly important.
Annual Balance Sheet Aeterna Zentaris
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Net Debt |
-5.16 M | -14.1 M | -4.98 M | -10 M | -65.1 M | - | - | - | - | -22 M | -34.9 M | -34.9 M | -43.2 M | -39.5 M | -46.8 M |
Long Term Debt |
1.93 M | 2.04 M | 1.4 M | 65 K | 31 K | - | - | - | - | - | - | - | - | - | 29 K |
Long Term Debt Current |
215 K | 271 K | 299 K | 114 K | 130 K | 135 K | 648 K | - | - | - | - | - | - | - | - |
Total Non Current Liabilities |
14 M | 14.7 M | 1.4 M | 13.2 M | - | 19.1 M | 16.8 M | 17.5 M | 19.2 M | 21.2 M | - | 25.4 M | 34.9 M | 58.7 M | 62 M |
Total Liabilities |
17.6 M | 21.9 M | 2.71 M | 4.02 M | 27.1 M | 23.8 M | 22.4 M | 23.1 M | 25 M | 25.4 M | 33 M | 33 M | 42.1 M | 74.4 M | 79.9 M |
Deferred Revenue |
- | - | - | - | - | 2.19 M | 991 K | 74 K | 486 K | 426 K | 270 K | 270 K | - | 5.24 M | 5.31 M |
Retained Earnings |
-20.5 M | -12.1 M | 4.36 M | -352 M | -335 M | -323 M | -317 M | -310 M | -314 M | -298 M | - | -222 M | -204 M | -213 M | -189 M |
Total Assets |
21.4 M | 35.1 M | 23.7 M | 27.8 M | 80.1 M | 37 M | 20 M | 25 M | 22.2 M | 31.7 M | 47.4 M | 47.4 M | 59.2 M | 67.7 M | 75.4 M |
Cash and Cash Equivalents |
7.31 M | 16.4 M | 6.68 M | 10.2 M | 65.3 M | 24.3 M | 7.84 M | 14.5 M | 7.78 M | 22 M | 41.4 M | - | - | - | - |
Book Value |
3.84 M | 13.2 M | 21 M | 23.8 M | 53 M | 13.2 M | -2.46 M | 1.91 M | -2.78 M | 6.21 M | 14.5 M | 14.5 M | 17.1 M | -6.7 M | -4.55 M |
All numbers in USD currency
Quarterly Balance Sheet Aeterna Zentaris
| 2025-Q4 | 2025-Q3 | 2025-Q2 | 2025-Q1 | 2024-Q4 | 2024-Q3 | 2024-Q2 | 2024-Q1 | 2023-Q4 | 2023-Q3 | 2023-Q2 | 2023-Q1 | 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 |
1.93 M | 1.96 M | 2.05 M | 1.97 M | 2.04 M | 1.21 M | 1.28 M | 80 K | 1.4 M | 70 K | 85 K | 76 K | - | - | - | 22 K | 31 K | 65 K | 12 K | 15 K | 49 K | 76 K | 103 K | 144 K | 255 K | 408 K | 570 K | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Total Non Current Liabilities |
14 M | 14.8 M | 14.9 M | 13.9 M | 14.7 M | 15.6 M | 13.9 M | 13.6 M | 1.4 M | 12 M | 13.3 M | 13.6 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Total Liabilities |
17.6 M | 18.8 M | 20.5 M | 21 M | 21.9 M | 23.8 M | 23.8 M | 18.8 M | 2.71 M | 16.2 M | 17.4 M | 20.1 M | - | - | - | 23.2 M | 27.1 M | 22.1 M | 23 M | 22.8 M | 23.8 M | 17.1 M | 16.7 M | 18 M | 22.4 M | 23.7 M | 23.8 M | - | 23.1 M | - | - | - | 25 M | - | - | - | 25.4 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Retained Earnings |
-20.5 M | -19 M | -17.2 M | -14.7 M | -12.1 M | -5.16 M | 1.53 M | -375 M | 4.36 M | -362 M | -359 M | -357 M | - | - | - | -335 M | -335 M | -328 M | -326 M | -323 M | -323 M | -321 M | -320 M | -315 M | -317 M | -317 M | -316 M | - | -310 M | - | - | - | -314 M | - | - | - | -298 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Total Assets |
21.4 M | 23.9 M | 27.6 M | 31.1 M | 35.1 M | 43.8 M | 50 M | 31.8 M | 23.7 M | 42.5 M | 46.5 M | 51.3 M | - | - | - | 76.3 M | 80.1 M | 82 M | 84.4 M | 87 M | 37 M | 32.3 M | 17.7 M | 19.6 M | 20 M | 21.5 M | 20.8 M | - | 25 M | - | - | - | 22.2 M | - | - | - | 31.7 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Cash and Cash Equivalents |
7.31 M | 8.52 M | 9.33 M | 13.8 M | 16.4 M | 20 M | 27.8 M | 29.5 M | 6.68 M | 38.8 M | 42.2 M | 46.6 M | - | - | - | 63.6 M | 65.3 M | 68 M | 69.9 M | 73.4 M | 24.3 M | 21.7 M | 6.74 M | 9.18 M | 7.84 M | 10.9 M | 9.68 M | 11.4 M | 14.5 M | 16.8 M | 19.9 M | 24.5 M | 7.78 M | - | - | - | 22 M | - | - | - | 41.4 M | - | - | - | 34.9 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Book Value |
3.84 M | 5.08 M | 7.1 M | 10.1 M | 13.2 M | 20 M | 26.2 M | 13 M | 21 M | 26.3 M | 29.1 M | 31.2 M | - | - | - | 53.2 M | 53 M | 59.9 M | 61.3 M | 64.2 M | 13.2 M | 15.1 M | 931 K | 1.69 M | -2.46 M | -2.19 M | -3.03 M | - | 1.91 M | - | - | - | -2.78 M | - | - | - | 6.21 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
All numbers in USD currency
Balance Sheet is a fundamental financial report of Aeterna Zentaris, 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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