Nokia Oyj Balance Sheet

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

Millions EUR. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Cash & Equivalents	4,892	6,623	6,234	5,467	6,691	6,940
Short-Term Investments	773	1,661	1,565	3,080	2,577	1,140
Trading Asset Securities	-	28	24	-	-	-
Cash & Short-Term Investments	5,665	8,312	7,823	8,547	9,268	8,080
Cash Growth	-35.31%	6.25%	-8.47%	-7.78%	14.70%	32.24%
Accounts Receivable	4,744	5,942	6,057	6,752	6,528	6,583
Other Receivables	1,185	969	1,071	984	1,009	1,096
Receivables	5,929	6,911	7,128	7,736	7,537	7,679
Inventory	2,380	2,163	2,719	3,265	2,392	2,242
Prepaid Expenses	-	-	-	103	64	-
Other Current Assets	400	601	496	615	336	214
Total Current Assets	14,374	17,987	18,166	20,266	19,597	18,215
Property, Plant & Equipment	2,445	2,120	2,857	2,944	2,808	2,588
Long-Term Investments	1,627	1,763	1,903	1,854	1,001	978
Goodwill	5,971	5,736	5,504	5,667	6,552	5,074
Other Intangible Assets	1,542	802	1,086	1,263	499	1,953
Long-Term Deferred Tax Assets	3,570	3,599	3,873	3,834	1,272	1,822
Other Long-Term Assets	6,515	7,142	6,471	7,115	8,320	5,561
Total Assets	36,044	39,149	39,860	42,943	40,049	36,191
Accounts Payable	3,062	3,213	3,423	4,730	3,679	3,174
Accrued Expenses	-	-	-	3,002	3,125	2,921
Current Portion of Long-Term Debt	711	979	582	327	116	561
Current Portion of Leases	202	199	198	184	185	189
Current Income Taxes Payable	180	207	203	185	202	188
Current Unearned Revenue	1,589	1,506	2,157	1,977	2,448	2,549
Other Current Liabilities	3,980	5,290	4,370	2,369	2,346	2,179
Total Current Liabilities	9,724	11,394	10,933	12,774	12,101	11,761
Long-Term Debt	2,343	2,918	3,637	4,249	4,537	5,015
Long-Term Leases	809	664	799	858	824	721
Long-Term Unearned Revenue	300	185	210	120	659	1,026
Pension & Post-Retirement Benefits	1,969	2,083	2,299	2,459	3,408	4,046
Long-Term Deferred Tax Liabilities	514	562	725	332	282	260
Other Long-Term Liabilities	712	596	629	725	776	817
Total Liabilities	16,371	18,402	19,232	21,517	22,587	23,646
Common Stock	246	246	246	246	246	246
Additional Paid-In Capital	794	734	628	503	454	443
Retained Earnings	1,477	1,956	1,404	1,375	-2,537	-4,143
Treasury Stock	-352	-431	-352	-352	-352	-352
Comprehensive Income & Other	17,417	18,152	18,611	19,561	19,549	16,271
Total Common Equity	19,582	20,657	20,537	21,333	17,360	12,465
Minority Interest	91	90	91	93	102	80
Shareholders' Equity	19,673	20,747	20,628	21,426	17,462	12,545
Total Liabilities & Equity	36,044	39,149	39,860	42,943	40,049	36,191
Total Debt	4,065	4,760	5,216	5,618	5,662	6,486
Net Cash (Debt)	1,600	3,552	2,607	2,929	3,606	1,594
Net Cash Growth	-61.42%	36.25%	-10.99%	-18.77%	126.22%	98.51%
Net Cash Per Share	0.29	0.64	0.47	0.52	0.63	0.28
Filing Date Shares Outstanding	5,413	5,373	5,526	5,587	5,635	5,617
Total Common Shares Outstanding	5,413	5,373	5,526	5,587	5,635	5,617
Working Capital	4,650	6,593	7,233	7,492	7,496	6,454
Book Value Per Share	3.62	3.84	3.72	3.82	3.08	2.22
Tangible Book Value	12,069	14,119	13,947	14,403	10,309	5,438
Tangible Book Value Per Share	2.23	2.63	2.52	2.58	1.83	0.97
Land	-	-	1,434	1,409	1,228	1,265
Machinery	-	-	3,547	3,589	3,371	3,135
Construction In Progress	-	-	167	248	280	137
Order Backlog	-	20,000	22,000	19,500	20,300	-

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.