NewcelX Ltd. (NCEL) Balance Sheet
NCEL balance sheet, 2025
December 31, 2025 · U.S. dollars$11.4M assets = $4.2M liabilities + $7.2M equity
Both columns are drawn to the same scale: what NCEL owns equals what it owes plus shareholders’ equity. Hover a block for its value.
NCEL financial health
Descriptive bands, not a rating. Fiscal 2025.
NCEL balance sheet trends, 2017–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $2.3M2017 | $11.4M2025 | +49.5%/yr | |
| Total liabilities | $10.0M2017 | $4.2M2025 | −19.5%/yr | |
| Shareholders’ equity | −$7.7M2017 | $7.2M2025 | — | |
| Cash & short-term investments | $2.2M2017 | $2.2M2025 | +0.2%/yr | |
| Total debt | $8.9M2017 | $355,0002025 | −55.3%/yr | |
| Net cash (debt) | −$6.7M2017 | $1.8M2025 | +$8.5M | |
| Working capital | $1.3M2017 | −$1.0M2025 | −$2.3M | |
| Book value per share | −$6.552017 | $1.892025 | — | |
| Current ratio | 2.302017 | 0.762025 | −1.54 | |
| Shares outstanding | 1.2M2017 | 3.8M2025 | +34.4%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
NCEL assets
NCEL liabilities and equity
NCEL debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
NCEL balance sheet
| 2025 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|
| Assets | |||||
| Cash & short-term investments | $2.2M | $93,710 | $220,267 | $6,678 | $2.2M |
| Cash & equivalents | $2.2M | $93,710 | $220,267 | $6,678 | $2.2M |
| Receivables | $0 | $61,207 | $75,388 | $36,893 | $0 |
| Inventory | $0 | −$61,206 | $0 | −$9,356 | $0 |
| Other current assets | $981,000 | $103,000 | $86,091 | $55,948 | $90,867 |
| Total current assets | $3.2M | $196,711 | $381,746 | $90,163 | $2.3M |
| Property, plant & equipment (net) | $95,000 | $0 | $0 | $0 | $0 |
| Goodwill & intangible assets | $8.2M | $0 | $0 | $0 | $0 |
| Long-term investments | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $0 | $1.0M | $314,683 | $55,472 | $14,371 |
| Total assets | $11.4M | $1.2M | $696,429 | $145,635 | $2.3M |
| Liabilities | |||||
| Accounts payable | $1.9M | $4.0M | $2.5M | $1.1M | $564,954 |
| Short-term debt | $355,000 | $1.8M | $690,071 | $707,683 | — |
| Total current liabilities | $4.2M | $7.2M | $4.0M | $2.4M | $989,955 |
| Long-term debt | $0 | $0 | $0 | $0 | $0 |
| Other long-term liabilities | $0 | $3.0M | $2.8M | $6.5M | $9.0M |
| Total liabilities | $4.2M | $10.2M | $6.9M | $9.0M | $10.0M |
| Shareholders' equity | |||||
| Common stock & paid-in capital | $291,000 | $145,139 | $145,139 | $133,544 | $128,344 |
| Retained earnings (deficit) | −$84.9M | −$29.8M | −$26.9M | −$21.5M | −$16.3M |
| Accumulated other comprehensive income | −$1.8M | −$19,381 | −$18,698 | −$11,254 | −$9,993 |
| Total shareholders' equity | $7.2M | −$9.0M | −$6.2M | −$8.8M | −$7.7M |
| Key figures | |||||
| Total debt | $355,000 | $2.1M | $842,129 | $7.1M | $8.9M |
| Net cash (debt) | $1.8M | −$2.0M | −$621,862 | −$7.1M | −$6.7M |
| Working capital | −$1.0M | −$7.0M | −$3.7M | −$2.3M | $1.3M |
| Tangible book value | −$918,000 | −$9.0M | −$6.2M | −$8.8M | −$7.7M |
| Book value per share | $1.89 | — | — | — | −$6.55 |
| Shares outstanding | 3.8M | — | — | — | 1.2M |
| Current ratio | 0.76 | 0.03 | 0.09 | 0.04 | 2.30 |
| Quick ratio | 0.52 | 0.02 | 0.07 | 0.02 | 2.21 |
| Debt / equity | 0.05 | — | — | — | — |
| Equity / assets | 63.3% | −741.5% | −886.1% | −6,051.9% | −337.3% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Mar '25 | Sep '24 | Mar '24 | Jun '23 | Mar '23 | |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Cash & short-term investments | $710,000 | $2.2M | $2.2M | $3.1M | $1.7M | $552,758 | $897,680 | $1.7M | $8.9M |
| Cash & equivalents | $710,000 | $2.2M | $2.2M | $3.1M | $1.7M | $552,758 | $897,680 | $1.7M | $8.9M |
| Receivables | $0 | $0 | $0 | $536,690 | $400,000 | $31,567 | $10,664 | $0 | $0 |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | −$41,243 |
| Other current assets | $448,000 | $981,000 | $981,000 | $426,821 | $160,157 | $608,143 | $914,718 | $593,738 | $339,241 |
| Total current assets | $1.2M | $3.2M | $3.2M | $4.0M | $2.2M | $1.2M | $1.8M | $2.2M | $9.2M |
| Property, plant & equipment (net) | $77,999 | $95,000 | $95,000 | $5,303 | $7,290 | $990 | $6,694 | $12,397 | $18,102 |
| Goodwill & intangible assets | $8.2M | $8.2M | $8.2M | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $296,001 | $0 | $0 | $296,438 | $283 | $0 | $16,885 | $12,559 | $12,143 |
| Total assets | $9.7M | $11.4M | $11.4M | $4.3M | $2.2M | $1.2M | $1.8M | $2.3M | $9.3M |
| Liabilities | |||||||||
| Accounts payable | $961,000 | $1.9M | $1.9M | $1.0M | $515,486 | $4.6M | $4.6M | $3.1M | $2.4M |
| Short-term debt | $392,000 | $355,000 | — | — | — | $1.7M | $1.6M | — | — |
| Total current liabilities | $3.7M | $4.2M | $4.2M | $1.5M | $826,764 | $7.7M | $7.9M | $3.9M | $3.4M |
| Long-term debt | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other long-term liabilities | $0 | $0 | $0 | $0 | $0 | $2.7M | $2.8M | $2.7M | $2.6M |
| Total liabilities | $3.7M | $4.2M | $4.2M | $1.5M | $826,764 | $10.5M | $10.7M | $6.6M | $6.0M |
| Shareholders' equity | |||||||||
| Common stock & paid-in capital | $328,000 | $291,000 | — | $153,141 | $166,353 | $808,555 | $733,413 | $733,413 | $668,555 |
| Retained earnings (deficit) | −$90.5M | −$84.9M | −$84.9M | −$74.8M | −$74.4M | −$72.4M | −$70.4M | −$65.8M | −$58.2M |
| Accumulated other comprehensive income | −$1.8M | −$1.8M | — | $108,853 | $108,853 | $4,206 | −$158,071 | −$66,224 | −$50,791 |
| Total shareholders' equity | $6.0M | $7.2M | $7.2M | $2.9M | $1.4M | −$9.3M | −$8.8M | −$4.3M | $3.3M |
| Key figures | |||||||||
| Total debt | $392,000 | $355,000 | — | — | — | $1.7M | $1.6M | — | — |
| Net cash (debt) | $318,000 | $1.8M | — | — | — | −$1.2M | −$736,066 | — | — |
| Working capital | −$2.5M | −$1.0M | −$1.0M | $2.6M | $1.4M | −$6.5M | −$6.1M | −$1.6M | $5.9M |
| Tangible book value | −$2.1M | −$918,000 | −$918,000 | $2.9M | $1.4M | −$9.3M | −$8.8M | −$4.3M | $3.3M |
| Book value per share | $1.03 | $2.15 | $1.51 | $0.86 | $0.42 | −$2.21 | −$2.72 | −$1.12 | $1.23 |
| Shares outstanding | 5.9M | 3.4M | 4.8M | 3.4M | 3.4M | 4.2M | 3.2M | 3.8M | 2.7M |
| Current ratio | 0.32 | 0.76 | 0.76 | 2.77 | 2.69 | 0.15 | 0.23 | 0.58 | 2.75 |
| Quick ratio | 0.19 | 0.52 | 0.52 | 2.48 | 2.50 | 0.08 | 0.11 | 0.42 | 2.66 |
| Debt / equity | 0.06 | 0.05 | — | — | — | — | — | — | — |
| Equity / assets | 62.3% | 63.3% | 63.3% | 66.5% | 63.0% | −776.6% | −478.4% | −188.8% | 35.4% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed April 29, 2026); data from EODHD.
NCEL financial position
At the end of fiscal 2025 (December 31, 2025), NewcelX had total assets of $11.4 million (up 844.6% from a year earlier), total liabilities of $4.2 million and shareholders' equity of $7.2 million. It held $2.2 million in cash and short-term investments against $0.4 million of debt, a net cash position of $1.8 million. Its current ratio was 0.76. In the latest quarter (ended June 30, 2026) total assets were $9.7 million and equity $6.0 million.
Related: NCEL income statement, NCEL cash flow statement, NCEL key metrics. See the NCEL stock overview for the latest quote and news.
NCEL balance sheet FAQ
What are NewcelX's total assets?
NewcelX reported total assets of $11.4 million at the end of fiscal 2025 (December 31, 2025), compared with $1.2 million a year earlier.
How much debt does NewcelX have?
NewcelX had $0.4 million of total debt at the end of fiscal 2025, including short-term borrowings. Its debt-to-equity ratio was 0.05.
How much cash does NewcelX have?
NewcelX held $2.2 million in cash and short-term investments at the end of fiscal 2025; with $0.4 million of debt that is net cash of $1.8 million.
What is NewcelX's book value?
NewcelX's shareholders' equity (book value) was $7.2 million at the end of fiscal 2025, or $1.89 per share.
What is NewcelX's current ratio?
NewcelX had current assets of $3.2 million and current liabilities of $4.2 million, a current ratio of 0.76 (current liabilities exceed current assets).
How much goodwill does NewcelX have?
NewcelX carried $8.2 million of goodwill and intangible assets, 71.4% of total assets, at the end of fiscal 2025.