Nokia Oyj Balance Sheet

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

Millions EUR. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	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	5,462	6,623	6,234	5,467	6,691
Short-Term Investments	961	1,661	1,565	3,080	2,577
Trading Asset Securities	22	28	24	-	-
Cash & Short-Term Investments	6,445	8,312	7,823	8,547	9,268
Cash Growth	-22.46%	6.25%	-8.47%	-7.78%	14.70%
Accounts Receivable	5,780	5,942	6,057	6,752	6,528
Other Receivables	897	796	1,071	984	1,009
Receivables	6,677	6,738	7,128	7,736	7,537
Inventory	2,209	2,163	2,719	3,265	2,392
Prepaid Expenses	143	173	-	103	64
Other Current Assets	318	601	496	615	336
Total Current Assets	15,792	17,987	18,166	20,266	19,597
Property, Plant & Equipment	2,490	2,120	2,857	2,944	2,808
Long-Term Investments	1,559	1,649	1,903	1,854	1,001
Goodwill	5,996	5,736	5,504	5,667	6,552
Other Intangible Assets	1,399	802	1,086	1,263	499
Long-Term Deferred Tax Assets	3,643	3,599	3,873	3,834	1,272
Other Long-Term Assets	6,718	7,256	6,471	7,115	8,320
Total Assets	37,597	39,149	39,860	42,943	40,049
Accounts Payable	2,978	3,213	3,423	4,730	3,679
Accrued Expenses	2,360	2,470	-	3,002	3,125
Current Portion of Long-Term Debt	1,087	979	582	327	116
Current Portion of Leases	203	199	198	184	185
Current Income Taxes Payable	344	207	203	185	202
Current Unearned Revenue	1,562	1,506	2,157	1,977	2,448
Other Current Liabilities	1,470	2,820	4,370	2,369	2,346
Total Current Liabilities	10,004	11,394	10,933	12,774	12,101
Long-Term Debt	2,329	2,918	3,637	4,249	4,537
Long-Term Leases	797	664	799	858	824
Long-Term Unearned Revenue	286	185	210	120	659
Pension & Post-Retirement Benefits	1,947	2,083	2,299	2,459	3,408
Long-Term Deferred Tax Liabilities	392	562	725	332	282
Other Long-Term Liabilities	784	596	629	725	776
Total Liabilities	16,539	18,402	19,232	21,517	22,587
Common Stock	246	246	246	246	246
Additional Paid-In Capital	870	734	628	503	454
Retained Earnings	1,857	1,956	1,404	1,375	-2,537
Treasury Stock	-352	-431	-352	-352	-352
Comprehensive Income & Other	18,346	18,152	18,611	19,561	19,549
Total Common Equity	20,967	20,657	20,537	21,333	17,360
Minority Interest	91	90	91	93	102
Shareholders' Equity	21,058	20,747	20,628	21,426	17,462
Total Liabilities & Equity	37,597	39,149	39,860	42,943	40,049
Total Debt	4,416	4,760	5,216	5,618	5,662
Net Cash (Debt)	2,029	3,552	2,607	2,929	3,606
Net Cash Growth	-42.88%	36.25%	-10.99%	-18.77%	126.22%
Net Cash Per Share	0.37	0.64	0.47	0.52	0.63
Filing Date Shares Outstanding	5,583	5,373	5,526	5,587	5,635
Total Common Shares Outstanding	5,583	5,373	5,526	5,587	5,635
Working Capital	5,788	6,593	7,233	7,492	7,496
Book Value Per Share	3.76	3.84	3.72	3.82	3.08
Tangible Book Value	13,572	14,119	13,947	14,403	10,309
Tangible Book Value Per Share	2.43	2.63	2.52	2.58	1.83
Land	890	946	1,434	1,409	1,228
Machinery	3,550	3,390	3,547	3,589	3,371
Construction In Progress	319	126	167	248	280
Order Backlog	19,500	20,000	22,000	19,500	20,300

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.