Export financials
Evaxion Biotech A/S (EVAX)
The export includes the complete available history of financial statements and ratios. Numbers are provided in full, without million or billion abbreviations, in their original reporting units.
CSV downloads as a ZIP archive with one file for each report and frequency.

Evaxion Biotech A/S Balance Sheet 2025-2011 | EVAX
Brief balance sheet overview of Evaxion Biotech A/S
The balance sheet is assessed across five available annual reports spanning 2021 to 2025.
Assets finished at $28.4 million versus $40.2 million initially, losing -29.3%. The balance sheet contracted.
Liabilities expanded faster than the asset base, +47.2% versus -29.3%. Debt-service capacity deserves attention.
The equity ratio reached 60% from 80.8%. A high capital share reduces dependence on liabilities.
Cash exceeds interest-bearing debt, producing net debt of -$21.3 million. The balance sheet therefore carries a net cash position.
Cash accounts for 81.8% of assets versus 80.1% initially. The change indicates the degree of financial flexibility.
The accumulated result is -$126.2 million and remains below zero. The number alone does not explain whether losses, dividends or repurchases were the main cause.
Overall picture
Evaxion Biotech A/S's financial structure is not clear-cut. Asset scale alone does not resolve questions about how those assets are funded.
Annual Balance Sheet Evaxion Biotech A/S
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Net Debt |
-21.3 M | -4.02 M | -3.36 M | -10.9 M | -29.6 M | - | - | - | - | - | - | - | - | - | - |
Long Term Debt |
1.61 M | 1.62 M | 1.9 M | 1.95 M | 2.21 M | - | - | - | - | - | - | - | - | - | - |
Long Term Debt Current |
360 K | 314 K | 326 K | 303 K | 314 K | 20 K | 36 K | - | - | - | - | - | - | - | - |
Total Non Current Liabilities |
7.11 M | 9.77 M | 10.5 M | 9.96 M | 3.4 M | - | - | - | - | - | - | - | - | - | - |
Total Liabilities |
11.4 M | 14.1 M | 17.6 M | 13.7 M | 7.73 M | 4.93 M | 1.72 M | - | - | - | - | - | - | - | - |
Retained Earnings |
-126 M | -119 M | -108 M | -85.8 M | -50.4 M | - | - | - | - | - | - | - | - | - | - |
Total Assets |
28.4 M | 12.5 M | 12.9 M | 22 M | 40.2 M | 12 M | 11.1 M | - | - | - | - | - | - | - | - |
Cash and Cash Equivalents |
23.2 M | 5.95 M | 5.58 M | 13.2 M | 32.2 M | 5.83 M | 9.56 M | 7.43 M | - | - | - | - | - | - | - |
Book Value |
17 M | -1.65 M | -4.73 M | 8.3 M | 32.4 M | 7.04 M | 9.36 M | - | - | - | - | - | - | - | - |
Total Shareholders Equity |
17 M | -1.65 M | -4.73 M | 8.3 M | 32.4 M | 7.04 M | 9.36 M | -931 K | - | - | - | - | - | - | - |
Annual performance
Select metrics to display
All numbers in USD currency
Quarterly Balance Sheet Evaxion Biotech A/S
| 2025-Q4 | 2025-Q2 | 2025-Q1 | 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 |
1.61 M | 1.71 M | - | 1.62 M | 1.75 M | 1.9 M | 1.95 M | 1.95 M | - | - | 2.14 M | 2.21 M | 2.29 M | 974 K | 1.05 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Total Non Current Liabilities |
7.11 M | 10.9 M | - | 9.77 M | 10.2 M | 10.5 M | 10.2 M | 9.96 M | - | - | 10 M | 3.4 M | 3.54 M | 1.03 M | 1.1 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Total Liabilities |
11.4 M | 16.2 M | - | 14.1 M | 14 M | 17.6 M | 14.2 M | 13.7 M | - | - | 14.7 M | 7.73 M | 7.47 M | 5.83 M | 7.12 M | 4.93 M | - | - | - | 1.72 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Retained Earnings |
-126 M | -125 M | - | -119 M | -113 M | -108 M | -84.3 M | -85.8 M | - | - | -55.9 M | -50.4 M | -42.1 M | -37.5 M | -31.1 M | -27.3 M | - | - | - | -15.8 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Total Assets |
28.4 M | 22.4 M | - | 12.5 M | 15.2 M | 12.9 M | 16.8 M | 22 M | - | - | 41.1 M | 40.2 M | 24.1 M | 27.7 M | 34.9 M | 12 M | - | - | - | 11.1 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Cash and Cash Equivalents |
23.2 M | 14.7 M | - | 5.95 M | 7.99 M | 5.58 M | 7.12 M | 13.2 M | - | - | 31.4 M | 32.2 M | 11.9 M | 18.8 M | 27 M | 5.83 M | 7.88 M | 4.08 M | 6.34 M | 9.56 M | - | - | - | 7.43 M | - | - | - | 468 K | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Book Value |
17 M | 6.23 M | - | -1.65 M | 1.25 M | -4.73 M | 2.54 M | 8.3 M | - | - | 26.4 M | 32.4 M | 16.6 M | 21.8 M | 27.8 M | 7.04 M | - | - | - | 9.36 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Total Shareholders Equity |
17 M | 6.23 M | 78.6 M | -1.65 M | 1.25 M | -4.73 M | 2.54 M | 8.3 M | - | - | 26.4 M | 32.4 M | 16.6 M | 21.8 M | 27.8 M | 7.04 M | 7.9 M | 3.72 M | 6.76 M | 9.36 M | - | - | - | -931 K | - | - | - | 2.55 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Quarterly performance
Select metrics to display
All numbers in USD currency
Balance Sheet is a fundamental financial report of Evaxion Biotech A/S, 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.