Valneva SE (VALN) Balance Sheet: Assets & Liabilities

Valneva SE (VALN) Balance Sheet

As of Dec 31, 2025 (end of fiscal 2025), Valneva SE reported total assets of EUR 398.84M and total liabilities of EUR 292.67M. Shareholders' equity was EUR 106.17M, down 41.4% from EUR 181.25M a year earlier. Total debt stood at EUR 181.91M against EUR 109.65M in cash and short-term investments, a net debt position of EUR 72.25M. That puts debt-to-equity at 1.71, compared with 1.03 a year earlier.

Valneva SE Balance Sheet Analysis

Values in millions EUR

Income Statement Balance Sheet Cash Flow Ratios

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Balance sheet showing assets, liabilities, and shareholders' equity for Valneva SE (VALN) - Annual data in millions EUR
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	109.65	168.27	126.08	286.53	346.64	204.39	64.44	77.09	33.55
Cash & Short-Term Investments	109.65	168.27	126.08	286.53	346.64	204.39	64.44	77.09	33.55
Accounts Receivable	27.81	35.13	41.65	23.91	44.01	19.23	24.03	11.26	17.62
Inventory	50.23	53.66	44.47	35.10	124.10	26.93	25.77	22.73	19.93
Other Current Assets	34.85	41.87	50.63	74.08	71.04	57.83	14.92	10.26	7.84
Total Current Assets	222.54	299.01	262.82	424.66	585.83	308.43	129.16	125.97	83.45
Non-Current Assets
Property, Plant & Equipment (Net)	138.03	158.12	156.59	154.04	173.83	78.15	69.34	38.00	38.37
Long-Term Investments	0.00	0.00	0.00	0.00	2.12	2.13	2.26	1.12	0.34
Intangible Assets	21.39	25.26	25.57	28.71	32.70	35.41	41.81	44.89	48.47
Other Non-Current Assets	15.92	8.04	8.49	8.30	19.28	19.47	17.16	17.24	17.03
Total Non-Current Assets	176.30	201.02	197.24	196.69	231.52	140.74	135.56	103.93	105.90
Total Assets	398.84	500.03	460.06	621.34	817.35	449.16	264.72	229.91	189.34
Current Liabilities
Accounts Payable	24.54	12.64	17.56	14.51	16.04	24.90	8.87	9.18	5.26
Short-Term Debt	20.64	20.85	44.08	11.58	7.11	9.68	4.31	17.53	17.40
Current Portion of Long-Term Debt	17.91	20.85	44.08	11.58	7.11	6.99	-	-	-
Accrued Liabilities	19.56	22.88	26.74	26.99	52.08	24.48	-	-	-
Deferred Revenue	0.43	3.01	5.70	9.41	124.02	89.58	0.69	1.68	0.00
Other Current Liabilities	28.16	5.15	0.59	5.52	4.95	51.71	24.97	13.15	14.70
Total Current Liabilities	93.33	114.58	158.86	277.39	368.98	175.87	41.30	42.95	37.67
Non-Current Liabilities
Long-Term Debt	161.26	166.52	132.77	87.23	50.73	95.77	80.91	40.07	54.10
Deferred Tax Liabilities	4.41	4.16	3.64	0.69	1.29	0.41	0.00	0.00	0.07
Other Non-Current Liabilities	12.73	0.05	0.08	0.12	0.07	99.64	6.63	0.66	-0.06
Total Non-Current Liabilities	199.33	204.20	172.95	124.15	277.79	195.87	88.27	43.78	59.00
Total Liabilities	292.67	318.78	331.82	401.55	646.77	371.74	129.57	86.72	96.67
Stockholders' Equity
Common Stock	26.03	24.38	20.84	20.76	15.79	13.65	13.64	13.64	11.64
Retained Earnings	-679.12	-563.93	-551.68	-450.25	-306.97	-233.55	-169.16	-168.17	-171.90
Accumulated Other Comprehensive Income	83.32	40.15	41.43	38.26	52.51	52.34	45.76	0.00	-34.27
Treasury Stock	0.65	0.65	0.65	0.65	-	-	-	-	-
Additional Paid-in Capital	718.52	647.60	594.00	594.04	409.26	244.98	244.91	297.72	199.00
Shares Outstanding	173.42	162.40	138.79	138.37	105.07	-	-	-	-
Total Stockholders' Equity	106.17	181.25	128.25	219.80	170.58	77.42	135.15	143.19	92.67
Total Liabilities & Equity	398.84	500.03	460.06	621.34	817.35	449.16	264.72	229.91	189.34

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

Frequently Asked Questions About Valneva SE Balance Sheet

How much debt does Valneva SE have?

Valneva SE had total debt of EUR 181.91M as of Dec 31, 2025, against EUR 109.65M in cash and short-term investments. Its debt-to-equity ratio was 1.71. Total debt was EUR 187.37M a year earlier.

What are Valneva SE's total assets?

Valneva SE reported total assets of EUR 398.84M as of Dec 31, 2025, down 20.2% from EUR 500.03M a year earlier. Total liabilities were EUR 292.67M.

What is Valneva SE's shareholders' equity?

Valneva SE's shareholders' equity was EUR 106.17M as of Dec 31, 2025, or about EUR 0.61 of book value per share.

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