NeuroSense Therapeutics Ltd. (NRSN) Balance Sheet
NRSN balance sheet, 2025
December 31, 2025 · U.S. dollars$1.0M assets = $2.6M liabilities + −$1.6M equity
Liabilities exceed assets: shareholders’ equity is negative (−$1.6M).
Both columns are drawn to the same scale: what NRSN owns equals what it owes plus shareholders’ equity. Hover a block for its value.
NRSN financial health
Descriptive bands, not a rating. Fiscal 2025.
NRSN balance sheet trends, 2019–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $955,0002019 | $1.0M2025 | +1.2%/yr | |
| Total liabilities | $37,0002019 | $2.6M2025 | +103.0%/yr | |
| Shareholders’ equity | $918,0002019 | −$1.6M2025 | — | |
| Cash & short-term investments | $895,0002019 | $166,0002025 | −24.5%/yr | |
| Total debt | $1.8M2021 | $170,0002025 | −44.8%/yr | |
| Net cash (debt) | $9.2M2021 | −$4,0002025 | −$9.2M | |
| Working capital | $876,0002019 | −$1.7M2025 | −$2.6M | |
| Book value per share | $16.592021 | −$1.222025 | — | |
| Current ratio | 24.682019 | 0.312025 | −24.37 | |
| Debt / equity | 0.202021 | 0.032024 | −0.17 | |
| Shares outstanding | 543K2021 | 1.3M2025 | +23.8%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
NRSN assets
NRSN liabilities and equity
NRSN debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
NRSN balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|
| Assets | |||||||
| Cash & short-term investments | $166,000 | $3.4M | $2.6M | $7.1M | $11.1M | $699,000 | $895,000 |
| Cash & equivalents | $166,000 | $3.4M | $2.6M | $3.5M | $11.1M | $699,000 | $895,000 |
| Short-term investments | — | — | $0 | $3.5M | $0 | — | — |
| Receivables | $33,000 | $164,000 | $166,000 | $131,000 | $178,000 | $30,000 | $18,000 |
| Inventory | $0 | $0 | $0 | −$3.7M | −$178,000 | −$67 | −$18 |
| Other current assets | $579,000 | $860,000 | $110,000 | $3.8M | $349,000 | $67 | $18 |
| Total current assets | $778,000 | $4.4M | $2.9M | $7.4M | $11.4M | $729,000 | $913,000 |
| Property, plant & equipment (net) | $228,000 | $150,000 | $247,000 | $306,000 | $19,000 | $13,000 | $7,000 |
| Goodwill & intangible assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $22,000 | $23,000 | $22,000 | $23,000 | $0 | $37,000 | $35,000 |
| Total assets | $1.0M | $4.6M | $3.2M | $7.7M | $11.4M | $779,000 | $955,000 |
| Liabilities | |||||||
| Accounts payable | $799,000 | $1.2M | $1.5M | $498,000 | $39,000 | $55,000 | $23,000 |
| Short-term debt | $98,000 | $73,000 | $69,000 | $64,000 | — | — | — |
| Total current liabilities | $2.5M | $2.0M | $3.5M | $1.7M | $597,000 | $120,000 | $37,000 |
| Long-term debt | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Lease obligations | $170,000 | $73,000 | $142,000 | $211,000 | $0 | — | — |
| Other long-term liabilities | $72,000 | $0 | $1.5M | $365,000 | $1.8M | $55,000 | $23,000 |
| Total liabilities | $2.6M | $2.0M | $4.9M | $2.1M | $2.4M | $120,000 | $37,000 |
| Shareholders' equity | |||||||
| Common stock & paid-in capital | — | — | — | — | — | $1,000 | $1,000 |
| Retained earnings (deficit) | −$47.8M | −$36.7M | −$26.1M | −$20.8M | −$8.4M | −$4.4M | −$1.6M |
| Accumulated other comprehensive income | — | — | $24.4M | $26.4M | $17.5M | $5.1M | $2.5M |
| Total shareholders' equity | −$1.6M | $2.6M | −$1.8M | $5.6M | $9.0M | $659,000 | $918,000 |
| Key figures | |||||||
| Total debt | $170,000 | $73,000 | $142,000 | $211,000 | $1.8M | — | — |
| Net cash (debt) | −$4,000 | $3.3M | $2.5M | $6.9M | $9.2M | — | — |
| Working capital | −$1.7M | $2.4M | −$543,000 | $5.7M | $10.8M | $609,000 | $876,000 |
| Tangible book value | −$1.6M | $2.6M | −$1.8M | $5.6M | $9.0M | $659,000 | $918,000 |
| Book value per share | −$1.22 | $2.78 | −$2.58 | $9.77 | $16.59 | — | — |
| Shares outstanding | 1.3M | 930K | 682K | 575K | 543K | — | — |
| Current ratio | 0.31 | 2.21 | 0.84 | 4.28 | 19.12 | 6.08 | 24.68 |
| Quick ratio | 0.08 | 1.78 | 0.81 | 4.18 | 18.83 | 6.08 | 24.68 |
| Debt / equity | — | 0.03 | — | 0.04 | 0.20 | — | — |
| Equity / assets | −151.8% | 56.5% | −55.2% | 72.9% | 78.8% | 84.6% | 96.1% |
| Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | Jun '23 | Mar '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $166,000 | $166,000 | $666,000 | $666,000 | $3.4M | $344,000 | $1.2M | $735,000 | $2.6M | $4.8M | $7.1M | $4.4M |
| Cash & equivalents | $166,000 | $166,000 | $666,000 | $666,000 | $3.4M | $344,000 | $1.2M | $735,000 | $2.6M | $4.8M | $7.1M | $1.4M |
| Short-term investments | — | — | — | — | — | — | $35,000 | — | $0 | $0 | $0 | $3.1M |
| Receivables | $33,000 | $0 | $847,000 | $164,000 | $0 | $406,000 | $376,000 | $421,000 | $0 | $309,000 | $434,000 | $567,000 |
| Inventory | $0 | $452,000 | $0 | $0 | $0 | $0 | $0 | −$457,000 | $0 | $36,654 | $37,528 | $38,394 |
| Other current assets | $579,000 | $160,000 | $43,000 | $726,000 | $1.0M | $35,000 | $35,000 | $493,000 | $276,000 | $346 | $472 | $606 |
| Total current assets | $778,000 | $778,000 | $1.6M | $1.6M | $4.4M | $785,000 | $1.6M | $1.2M | $2.9M | $5.1M | $7.6M | $5.0M |
| Property, plant & equipment (net) | $228,000 | $228,000 | $105,000 | $105,000 | $150,000 | $176,000 | $200,000 | $231,000 | $247,000 | $260,000 | $284,000 | $294,000 |
| Goodwill & intangible assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $22,000 | $22,000 | $23,000 | $23,000 | $23,000 | $23,000 | $22,000 | $23,000 | $22,000 | $21,000 | $23,000 | $23,000 |
| Total assets | $1.0M | $1.0M | $1.7M | $1.7M | $4.6M | $984,000 | $1.8M | $1.4M | $3.2M | $5.4M | $7.9M | $5.3M |
| Liabilities | ||||||||||||
| Accounts payable | $799,000 | $799,000 | $1.1M | $1.1M | $1.2M | $1.4M | $1.5M | $2.4M | $1.5M | $913,000 | $1.1M | $419,000 |
| Short-term debt | $98,000 | $98,000 | — | $73,000 | — | — | — | $69,000 | — | — | — | — |
| Total current liabilities | $2.5M | $2.5M | $2.2M | $2.2M | $2.0M | $3.8M | $3.5M | $4.5M | $3.5M | $2.8M | $3.0M | $1.8M |
| Long-term debt | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Lease obligations | $170,000 | — | — | — | $73,000 | $19,000 | $36,000 | $55,000 | $142,000 | $84,000 | $104,000 | $126,000 |
| Other long-term liabilities | $72,000 | $72,000 | $0 | $0 | $0 | $19,000 | $36,000 | $3.9M | $1.5M | $2.8M | $6.4M | $653,000 |
| Total liabilities | $2.6M | $2.6M | $2.2M | $2.2M | $2.0M | $3.8M | $3.5M | $8.4M | $4.9M | $5.6M | $9.4M | $2.4M |
| Shareholders' equity | ||||||||||||
| Retained earnings (deficit) | −$47.8M | −$47.8M | −$41.4M | −$41.4M | −$36.7M | −$34.5M | −$32.4M | −$31.5M | −$26.1M | −$29.1M | −$29.9M | −$24.7M |
| Accumulated other comprehensive income | — | — | — | — | — | — | $30.7M | $24.5M | — | $28.9M | $28.4M | $27.6M |
| Total shareholders' equity | −$1.6M | −$1.6M | −$519,000 | −$519,000 | $2.6M | −$2.8M | −$1.7M | −$7.0M | −$1.8M | −$196,000 | −$1.5M | $2.9M |
| Key figures | ||||||||||||
| Total debt | $170,000 | $170,000 | — | $73,000 | — | $19,000 | $36,000 | $55,000 | — | $84,000 | $104,000 | $126,000 |
| Net cash (debt) | −$4,000 | −$4,000 | — | $593,000 | — | $325,000 | $1.2M | $680,000 | — | $4.7M | $7.0M | $4.3M |
| Working capital | −$1.7M | −$1.7M | −$647,000 | −$647,000 | $2.4M | −$3.0M | −$1.9M | −$3.3M | −$543,000 | $2.3M | $4.6M | $3.2M |
| Tangible book value | −$1.6M | −$1.6M | −$519,000 | −$519,000 | $2.6M | −$2.8M | −$1.7M | −$7.0M | −$1.8M | −$196,000 | −$1.5M | $2.9M |
| Book value per share | −$1.22 | −$1.22 | −$0.41 | −$0.41 | — | −$2.85 | −$1.89 | −$9.08 | — | −$0.29 | −$2.27 | $4.90 |
| Shares outstanding | 1.3M | 1.3M | 1.3M | 1.3M | — | 990K | 903K | 770K | — | 681K | 681K | 589K |
| Current ratio | 0.31 | 0.31 | 0.71 | 0.71 | 2.21 | 0.21 | 0.46 | 0.26 | 0.84 | 1.82 | 2.52 | 2.80 |
| Quick ratio | 0.08 | 0.07 | 0.69 | 0.38 | 1.70 | 0.20 | 0.45 | 0.25 | 0.76 | 1.80 | 2.50 | 2.78 |
| Debt / equity | — | — | — | — | — | — | — | — | — | — | — | 0.04 |
| Equity / assets | −151.8% | −151.8% | −30.8% | −30.8% | 56.5% | −286.4% | −92.5% | −483.6% | −55.2% | −3.6% | −19.6% | 54.2% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed March 31, 2026); data from EODHD.
NRSN financial position
At the end of fiscal 2025 (December 31, 2025), NeuroSense Therapeutics had total assets of $1.0 million (down 77.5% from a year earlier), total liabilities of $2.6 million and shareholders' equity of -$1.6 million. It held $0.2 million in cash and short-term investments against $0.2 million of debt, net debt of $0.0 million. Its current ratio was 0.31.
Related: NRSN income statement, NRSN cash flow statement, NRSN key metrics. See the NRSN stock overview for the latest quote and news.
NRSN balance sheet FAQ
What are NeuroSense Therapeutics's total assets?
NeuroSense Therapeutics reported total assets of $1.0 million at the end of fiscal 2025 (December 31, 2025), compared with $4.6 million a year earlier.
How much debt does NeuroSense Therapeutics have?
NeuroSense Therapeutics had $0.2 million of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was —.
How much cash does NeuroSense Therapeutics have?
NeuroSense Therapeutics held $0.2 million in cash and short-term investments at the end of fiscal 2025; with $0.2 million of debt that is net debt of $0.0 million.
What is NeuroSense Therapeutics's book value?
NeuroSense Therapeutics's shareholders' equity (book value) was -$1.6 million at the end of fiscal 2025, or −$1.22 per share.
What is NeuroSense Therapeutics's current ratio?
NeuroSense Therapeutics had current assets of $0.8 million and current liabilities of $2.5 million, a current ratio of 0.31 (current liabilities exceed current assets).