MDxHealth SA (MDXH) Balance Sheet: Assets & Liabilities

MDxHealth SA (MDXH) Balance Sheet

As of Dec 31, 2025 (end of fiscal 2025), MDxHealth SA reported total assets of $147.95M and total liabilities of $160.05M. Shareholders' equity was negative at −$12.09M, meaning liabilities exceed assets. Total debt stood at $106.76M against $29.14M in cash and short-term investments, a net debt position of $77.63M.

MDxHealth SA Balance Sheet Analysis

Values in millions USD

Income Statement Balance Sheet Cash Flow Ratios

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Balance sheet showing assets, liabilities, and shareholders' equity for MDxHealth SA (MDXH) - Annual data in millions USD
Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017
Period ending	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019	Dec 2018	Dec 2017
Current Assets
Cash and Cash Equivalents	29.03	46.80	22.38	15.50	58.50	15.95	22.05	26.20	16.83
Short-Term Investments	0.10	0.14	0.00	0.10	0.09	0.05	0.05	0.00	0.00
Cash & Short-Term Investments	29.14	46.93	22.38	15.50	58.50	16.01	22.10	26.20	16.83
Accounts Receivable	14.68	14.44	11.27	9.36	4.58	3.89	6.65	19.13	19.93
Inventory	6.74	3.87	2.78	2.33	1.91	2.32	1.19	1.81	1.92
Other Current Assets	2.96	1.79	1.73	1.96	0.02	0.87	0.97	0.72	0.64
Total Current Assets	53.41	66.90	38.16	29.15	66.61	23.09	30.91	47.86	39.32
Non-Current Assets
Property, Plant & Equipment (Net)	14.68	12.98	9.95	7.89	5.02	3.71	2.45	2.07	2.57
Long-Term Investments	1.50	0.94	0.76	0.00	0.00	0.00	0.00	0.00	0.00
Goodwill	38.95	35.93	35.93	35.93	0.00	0.00	0.00	1.15	1.15
Intangible Assets	39.42	40.59	44.34	46.17	3.45	5.06	7.27	14.39	15.49
Other Non-Current Assets	0.00	0.50	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Non-Current Assets	94.54	90.43	90.97	89.99	8.47	8.77	9.72	17.61	19.21
Total Assets	147.95	157.33	129.13	119.14	75.07	31.86	40.63	65.48	58.52
Current Liabilities
Accounts Payable	10.33	8.00	8.81	10.18	7.46	5.32	4.96	6.45	8.06
Short-Term Debt	30.57	26.41	2.12	0.62	4.44	2.82	1.22	0.26	0.36
Current Portion of Long-Term Debt	-	0.32	0.64	0.62	4.44	2.82	-	-	-
Accrued Liabilities	6.74	6.57	5.69	3.99	2.74	3.22	-	-	-
Deferred Revenue	0.00	0.00	0.47	0.00	0.00	3.22	0.00	4.36	3.82
Other Current Liabilities	37.31	26.41	8.12	2.33	0.96	0.91	4.25	4.76	4.70
Total Current Liabilities	49.53	42.66	19.52	18.28	16.43	13.02	10.43	11.48	13.12
Non-Current Liabilities
Long-Term Debt	76.20	50.97	39.14	34.91	7.65	10.28	9.79	0.26	0.52
Deferred Tax Liabilities	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.58	0.62
Other Non-Current Liabilities	25.81	41.45	63.26	53.54	1.47	0.69	0.69	1.05	0.66
Total Non-Current Liabilities	110.51	99.83	102.40	91.54	11.74	12.99	10.48	1.88	1.86
Total Liabilities	160.05	142.49	121.92	109.82	28.17	26.01	20.90	13.36	14.98
Stockholders' Equity
Common Stock	219.21	214.67	173.93	133.45	128.45	84.90	70.72	53.88	45.95
Retained Earnings	-403.03	-369.52	-331.45	-288.35	-244.30	-215.30	-186.64	-143.54	-111.09
Accumulated Other Comprehensive Income	-0.78	-0.62	11.55	-0.44	-1.04	-0.10	-0.70	-1.17	1.24
Additional Paid-in Capital	153.18	153.18	153.18	153.18	153.18	136.35	136.35	135.73	101.24
Shares Outstanding	51.36	49.50	27.29	16.29	15.60	-	-	-	-
Total Stockholders' Equity	-12.09	14.84	7.21	9.32	46.90	5.85	19.72	52.12	43.55
Total Liabilities & Equity	147.95	157.33	129.13	119.14	75.07	31.86	40.63	65.48	58.52

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Frequently Asked Questions About MDxHealth SA Balance Sheet

How much debt does MDxHealth SA have?

MDxHealth SA had total debt of $106.76M as of Dec 31, 2025, against $29.14M in cash and short-term investments. Total debt was $77.38M a year earlier.

What are MDxHealth SA's total assets?

MDxHealth SA reported total assets of $147.95M as of Dec 31, 2025, down 6.0% from $157.33M a year earlier. Total liabilities were $160.05M.

What is MDxHealth SA's shareholders' equity?

MDxHealth SA's shareholders' equity was negative at −$12.09M as of Dec 31, 2025, so its liabilities exceeded its assets.

What is the debt-to-equity ratio?

The debt-to-equity ratio divides a company's total debt by its shareholders' equity. It shows how much of the business is financed with borrowed money; normal levels vary widely by industry. Full definition