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Merus N.V. logo
Merus N.V. MRUS
report update icon

Quarterly report 2025-Q3
added 05-30-2026

Merus N.V. Balance Sheet 2024-2011 | MRUS

Brief balance sheet overview of Merus N.V.

The balance sheet is assessed across five available annual reports spanning 2020 to 2024.

Total assets increased by +238.5%, from $231.2 million to $782.7 million. A CAGR near 35.6% points to substantial expansion.

Liabilities increased less than assets, posting +4.5% versus +238.5%. That relationship usually strengthens the balance sheet.

The equity ratio reached 82.8% from 44.2%. A high capital share reduces dependence on liabilities.

The period ended with net cash: net debt stood at -$283.4 million. This supports financial flexibility.

Cash equals 37.5% of the balance sheet, compared with 70.5% five periods ago. This is the readily available cushion.

The balance sheet includes a negative accumulated result of -$968.4 million. It should be assessed alongside historical profits and capital distributions.

What the balance sheet shows

Merus N.V.'s financial position is positive on balance sheet evidence. Growth in resources has not undermined capital strength.

Annual Balance Sheet Merus N.V.

2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011

Net Debt

-283 M -192 M -134 M -238 M - -192 M -164 M -180 M -59.3 M -35.2 M -1.24 M -13.3 M -6.26 M -

Long Term Debt

8.21 M 10.5 M 11.8 M 2.26 M - - - - 335 K 531 K 793 K 1.13 M 1.34 M -

Long Term Debt Current

1.7 M 1.67 M 1.68 M 1.49 M 1.43 M 1.38 M - - - - - - - -

Total Non Current Liabilities

- - - - - 95.3 M 112 M 156 M 32.1 M 958 K 1.54 M 1.13 M 1.34 M -

Total Current Liabilities

87.1 M 69.1 M 78.9 M 71.9 M 46.7 M 36.8 M - - - - - - - -

Total Liabilities

135 M 99.2 M 129 M 140 M 129 M 132 M 145 M 179 M 40.3 M 7.86 M 8.63 M 6.58 M 3.32 M -

Deferred Revenue

29.9 M 22.7 M 29.4 M 16.6 M 20.2 M 18.8 M 19.4 M 8.66 M 1.93 M 1.66 M 1.56 M 2.19 M - -

Retained Earnings

-968 M -753 M -598 M -467 M -400 M -315 M -200 M -201 M -113 M -69.3 M -49.6 M -32.5 M -18.7 M -

Total Assets

783 M 455 M 377 M 457 M 231 M 263 M 250 M 236 M 76 M 38.8 M 4.3 M 17.2 M 10.6 M -

Cash and Cash Equivalents

293 M 204 M 148 M 241 M 163 M 198 M 165 M - - - - - - -

Book Value

648 M 356 M 247 M 316 M 102 M 131 M 105 M 57.5 M 35.8 M 30.9 M -4.33 M 10.6 M 7.3 M -

Total Shareholders Equity

648 M 356 M 247 M 316 M 102 M 131 M 106 M - - - - - - -

All numbers in USD currency

Quarterly Balance Sheet Merus N.V.

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

9.56 M 8.75 M 8.08 M 8.21 M 9.28 M 9.33 M 9.85 M 10.5 M 10.5 M 11.2 M 11.6 M 11.8 M 11.3 M 12.3 M 1.87 M 2.26 M 2.65 M 3.2 M 2.4 M 2.52 M 2.52 M 2.52 M 2.52 M 3.87 M 3.87 M 3.87 M 3.87 M 1.85 M - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -

Total Liabilities

129 M 138 M 135 M 135 M 141 M 145 M 149 M 99.2 M 98.8 M 106 M 121 M 129 M 116 M 118 M 120 M 140 M 150 M 160 M 161 M 129 M 129 M 129 M 129 M 132 M 132 M 132 M 132 M 147 M - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -

Deferred Revenue

24.4 M 26.4 M 27.6 M 29.9 M 31 M 32.4 M 34.1 M 22.7 M 23 M 24.2 M 26.7 M 29.4 M 28 M 30.7 M 33.7 M 16.6 M 18.6 M 13.2 M 7.07 M 625 K 625 K 625 K 625 K 941 K 941 K 941 K 941 K 1.25 M - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -

Retained Earnings

-1.32 B -1.22 B -1.06 B -968 M -937 M -838 M -788 M -753 M -693 M -670 M -638 M -598 M -516 M -492 M -486 M -467 M -453 M -438 M -410 M -400 M -400 M -400 M -400 M -315 M -315 M -315 M -315 M -259 M - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -

Total Assets

904 M 980 M 731 M 783 M 845 M 892 M 498 M 455 M 492 M 364 M 339 M 377 M 415 M 445 M 418 M 457 M 356 M 380 M 398 M 231 M 231 M 231 M 231 M 263 M 263 M 263 M 263 M 253 M - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -

Cash and Cash Equivalents

367 M 443 M 197 M 293 M 433 M 629 M 178 M 204 M 242 M 101 M 103 M 148 M 191 M 214 M 195 M 241 M 159 M 311 M 327 M 163 M 163 M 163 M 163 M 198 M 198 M 198 M 198 M 165 M - - - 180 M - - - - - - - - - - - - - - - - - - - - - - - - - - -

Book Value

775 M 842 M 596 M 648 M 703 M 747 M 349 M 356 M 393 M 257 M 218 M 247 M 299 M 327 M 297 M 316 M 206 M 219 M 237 M 102 M 102 M 102 M 102 M 131 M 131 M 131 M 131 M 106 M - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -

Total Shareholders Equity

775 M 842 M 596 M 648 M 703 M 747 M 349 M 356 M 393 M 257 M 218 M 247 M 299 M 327 M 297 M 316 M 206 M 219 M 237 M 102 M 102 M 102 M 102 M 131 M 131 M 131 M 131 M 106 M - - - 67.9 M - - - - - - - - - - - - - - - - - - - - - - - - - - -

All numbers in USD currency

Balance Sheet is a fundamental financial report of Merus N.V., 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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