Pharvaris N.V. (PHVS) Balance Sheet

NASDAQ: PHVSAssets, liabilities, debt and equity over 9 years.

PHVS balance sheet, 2025

December 31, 2025 · euros

€301.5M assets = €30.2M liabilities + €271.3M equity

What it owns€301.5MCash & ST investments: €291.7M (96.8%)Cash & ST investments€291.7M · 97%Receivables: €4.6M (1.5%)Other current: €2.9M (1.0%)PP&E: €1.4M (0.5%)Other non-current: €887,352 (0.3%)=How it is financed€301.5MCurrent liabilities: €29.6M (9.8%)Current liabilities €29.6MOther LT liabilities: €576,585 (0.2%)Shareholders’ equity: €271.3M (90.0%)Shareholders’ equity€271.3M · 90%

Both columns are drawn to the same scale: what PHVS owns equals what it owes plus shareholders’ equity. Hover a block for its value.

PHVS financial health

Debt / equity0.00
Low leverage · €0.00 of debt for each $1 of equity
Equity / assets90.0%
Equity-funded · of assets funded by shareholders
Cash / debt37,548.9%
Cash covers debt · cash & short-term investments vs total debt
Goodwill & intangibles0.0%
Mostly tangible · of total assets

Descriptive bands, not a rating. Fiscal 2025.

PHVS balance sheet trends, 2017–2025

MetricTrendThenLatestChange
Total assets€4.8M2017€301.5M2025+67.8%/yr
Total liabilities€138,8362017€30.2M2025+96.0%/yr
Shareholders’ equity€4.7M2017€271.3M2025+66.2%/yr
Cash & short-term investments€4.8M2017€291.7M2025+67.1%/yr
Total debt€250,1842021€776,7982025+32.7%/yr
Net cash (debt)€209.1M2021€290.9M2025+€81.8M
Working capital€4.7M2017€269.6M2025+€264.9M
Debt / equity0.0020210.0020250.00
Shares outstanding30.5M201759.2M2025+8.6%/yr

Change is the average annual growth (CAGR) or the difference between the first and latest year.

PHVS assets

Cash & ST investmentsReceivablesInventoryOther currentPP&EGoodwill & intangiblesLT investmentsOther non-current

PHVS liabilities and equity

Current liabilitiesLong-term debtOther long-term liabilitiesEquity

PHVS debt vs cash

Total debtCash & ST investmentsNet cash (debt)

Debt includes short- and long-term borrowings and, where reported, lease obligations.

PHVS balance sheet in euros

202520242023202220212020201920182017
Assets
Cash & short-term investments€291.7M€280.7M€391.2M€161.8M€209.4M€98.6M€20.3M€5.4M€4.8M
Cash & equivalents€291.7M€280.7M€391.2M€161.8M€209.4M€98.6M€20.3M€5.4M€4.8M
Short-term investments——€322,558——————
Receivables€4.6M€2.9M€1.0M€382,468€700,079€569,578€210,843€26,423€1,056
Inventory€0€0−€322,558€4.0M€1.5M€540,701€0€0€0
Other current assets€2.9M€5.7M€5.9M€582,589€5,699€1.2M€47,536€22,621€0
Total current assets€299.2M€289.4M€397.9M€166.8M€211.6M€101.0M€20.6M€5.4M€4.8M
Property, plant & equipment (net)€1.4M€1.5M€455,571€626,439€351,349€48,503€12,927€0€0
Goodwill & intangible assets€0€0€0€0€0€0€0€0€0
Long-term investments€0€0€0€0€0€0€0€0€0
Other non-current assets€887,352€474,347€387,529€259,803€172,053€99,339€0€0€0
Total assets€301.5M€291.4M€398.7M€167.7M€212.1M€101.1M€20.6M€5.4M€4.8M
Liabilities
Accounts payable€5.1M€4.6M€2.9M€6.0M€2.1M€656,448€517,771€246,356€60,472
Short-term debt€200,213€222,427€195,341€187,404€99,432————
Deferred revenue——€430,278——————
Total current liabilities€29.6M€23.0M€14.6M€18.2M€7.0M€5.3M€1.9M€481,340€138,836
Long-term debt€0€0€0€0€0€0€0€0€0
Lease obligations€776,798€861,470€238,905€436,822€250,184€0———
Other long-term liabilities€576,585€639,043€43,564€249,418€150,751€846,952€509,948€246,356€60,472
Total liabilities€30.2M€23.6M€14.6M€18.5M€7.1M€5.3M€1.9M€481,340€138,836
Shareholders' equity
Common stock & paid-in capital€7.8M€6.5M€6.3M€4.1M€4.0M€235,693€130,962€100,928€100,928
Retained earnings (deficit)−€579.6M−€402.3M−€265.9M−€164.2M−€87.6M−€44.5M−€18.5M−€10.4M−€6.1M
Accumulated other comprehensive income€50.5M€39.8M€27.9M€20.2M€9.8M€2.0M€392,139€275,992€175,247
Total shareholders' equity€271.3M€267.8M€384.0M€149.3M€205.0M€95.8M€18.7M€5.0M€4.7M
Key figures
Total debt€776,798€861,470€238,905€436,822€250,184————
Net cash (debt)€290.9M€279.9M€391.0M€161.4M€209.1M————
Working capital€269.6M€266.4M€383.2M€148.6M€204.6M€95.6M€18.7M€5.0M€4.7M
Tangible book value€271.3M€267.8M€384.0M€149.3M€205.0M€95.8M€18.7M€5.0M€4.7M
Shares outstanding59.2M54.0M38.4M33.6M30.4M30.5M31.8M31.8M30.5M
Current ratio10.1112.6027.259.1630.2819.0010.7011.2934.55
Quick ratio10.0112.3526.868.9030.0718.6710.6711.2434.55
Debt / equity0.000.000.000.000.00————
Equity / assets90.0%91.9%96.3%89.0%96.6%94.7%90.7%91.1%97.1%

Quarterly columns are labeled by the month the quarter ended. Figures in euros as reported (latest annual report filed April 2, 2026); data from EODHD.

PHVS financial position

At the end of fiscal 2025 (December 31, 2025), Pharvaris had total assets of €301.5 million (up 3.5% from a year earlier), total liabilities of €30.2 million and shareholders' equity of €271.3 million. It held €291.7 million in cash and short-term investments against €0.8 million of debt, a net cash position of €290.9 million. Its current ratio was 10.11. In the latest quarter (ended June 30, 2026) total assets were €328.7 million and equity €300.8 million.

Related: PHVS income statement, PHVS cash flow statement, PHVS key metrics. See the PHVS stock overview for the latest quote and news.

PHVS balance sheet FAQ

What are Pharvaris's total assets?

Pharvaris reported total assets of €301.5 million at the end of fiscal 2025 (December 31, 2025), compared with €291.4 million a year earlier.

How much debt does Pharvaris have?

Pharvaris had €0.8 million of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 0.00.

How much cash does Pharvaris have?

Pharvaris held €291.7 million in cash and short-term investments at the end of fiscal 2025; with €0.8 million of debt that is net cash of €290.9 million.

What is Pharvaris's book value?

Pharvaris's shareholders' equity (book value) was €271.3 million at the end of fiscal 2025.

What is Pharvaris's current ratio?

Pharvaris had current assets of €299.2 million and current liabilities of €29.6 million, a current ratio of 10.11 (it can cover its short-term obligations).

Biotechnology: balance sheet