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Evaxion Biotech A/S logo
Evaxion Biotech A/S EVAX
$ 2.99 7.55%
report update icon

Quarterly report 2023-Q2
added 11-04-2026

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 - - - - - - -

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 - - - - - - - - - - - - - - - - - - - - - - - - - - -

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.