Zealand Pharma Balance Sheet

Financials in millions DKK. Fiscal year is January - December.

Millions DKK. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Cash & Equivalents	3,849	4,577	726.03	449.31	1,069	1,129
Short-Term Investments	10,619	10,532	8,296	1,184	108.61	299.04
Cash & Short-Term Investments	14,468	15,109	9,022	1,633	1,178	1,428
Cash Growth	69.33%	67.47%	452.46%	38.65%	-17.53%	13.56%
Accounts Receivable	106	174.21	87.17	97.8	115.62	153.45
Other Receivables	133	165.79	116.85	49.9	39.7	21.56
Total Trade Receivables	239	340	204.02	147.7	155.33	175.02
Inventory	-	-	10.7	7.94	1.29	118.44
Other Current Assets	311	302.72	106.39	-	-	-
Total Current Assets	15,018	15,670	8,528	1,780	1,316	1,722
Net Property, Plant & Equipment	164	151.43	125.25	149.85	165.49	221.45
Other Intangible Assets	45	44.97	12.62	12.26	-	53.79
Long-Term Investments	-	-	23.63	21.38	37.84	26.91
Other Long-Term Assets	74	0.87	0.99	0.93	2.02	43.89
Total Assets	15,301	15,949	9,506	1,980	1,540	2,068
Accounts Payable	260	346.61	254.84	125.07	180.76	284.81
Accrued Expenses	82	230.39	132.59	142.85	19.06	-
Current Portion of Leases	-	-	-	-	-	14.9
Unearned Revenue	33	65.34	-	-	-	67.58
Total Current Liabilities	404	664.97	403.47	284.58	195.49	334.32
Long-Term Debt	307	302.92	285.33	-	401.35	647.91
Long-Term Leases	107	102.84	106.42	119.23	122.73	124.63
Other Long-Term Liabilities	43	70.08	109.67	-	-	-
Total Long-Term Liabilities	428	453.22	485.39	102.58	528.4	805.51
Total Liabilities	832	1,118	888.86	387.15	723.9	1,140
Common Stock	72	71.52	71.02	58.75	51.7	43.63
Additional Paid-in Capital	14,730	14,729	14,681	6,406	4,921	-
Accumulated Other Comprehensive Income	23	23.38	22.39	22.7	14.62	884.17
Retained Earnings	-356	6.29	-6,157	-4,895	-4,172	-
Shareholders' Equity	14,469	14,831	8,617	1,593	815.91	927.8
Total Liabilities & Equity	15,301	15,949	9,506	1,980	1,540	2,068
Total Debt	414	405.77	391.76	119.23	524.08	787.43
Net Cash (Debt)	14,054	14,703	8,630	1,514	653.77	640.72
Net Cash Growth	-4.41%	70.37%	470.09%	131.55%	2.04%	-43.17%
Net Cash Per Share	195.75	205.50	129.91	26.75	14.15	14.95
Book Value	14,469	14,831	8,617	1,593	815.91	927.8
Book Value Per Share	201.53	207.29	129.70	28.15	17.66	21.64
Tangible Book Value	14,424	14,786	8,604	1,581	815.91	874.01
Tangible Book Value Per Share	200.90	206.66	129.51	27.93	17.66	20.39