Pasqal Holding SA (PSQL) Balance Sheet
PSQL balance sheet, 2025
December 31, 2025 · euros€187.8M assets = €192.2M liabilities + −€4.4M equity
Liabilities exceed assets: shareholders’ equity is negative (−€4.4M).
Both columns are drawn to the same scale: what PSQL owns equals what it owes plus shareholders’ equity. Hover a block for its value.
PSQL financial health
Descriptive bands, not a rating. Fiscal 2025.
PSQL balance sheet trends, 2024–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | €126.0M2024 | €187.8M2025 | +49.1%/yr | |
| Total liabilities | €93.3M2024 | €192.2M2025 | +106.0%/yr | |
| Shareholders’ equity | €32.7M2024 | −€4.4M2025 | — | |
| Cash & short-term investments | €2.4M2024 | €70.9M2025 | +2,823.7%/yr | |
| Total debt | €7.9M2024 | €7.6M2025 | −2.7%/yr | |
| Net cash (debt) | −€5.4M2024 | €63.3M2025 | +€68.7M | |
| Working capital | −€8.9M2024 | −€50.1M2025 | −€41.2M | |
| Current ratio | 0.822024 | 0.672025 | −0.14 | |
| Shares outstanding | 209.6M2024 | 209.6M2025 | 0.0%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
PSQL assets
PSQL liabilities and equity
PSQL debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
PSQL balance sheet in euros
| 2025 | 2024 | |
|---|---|---|
| Assets | ||
| Cash & short-term investments | €70.9M | €2.4M |
| Cash & equivalents | €70.9M | €2.4M |
| Receivables | €5.6M | €2.1M |
| Inventory | €11.3M | €14.5M |
| Other current assets | €16.1M | €20.6M |
| Total current assets | €104.0M | €39.7M |
| Property, plant & equipment (net) | €37.1M | €38.7M |
| Goodwill & intangible assets | €37.1M | €34.9M |
| Long-term investments | €7.3M | €0 |
| Other non-current assets | €2.3M | €12.7M |
| Total assets | €187.8M | €126.0M |
| Liabilities | ||
| Accounts payable | €9.6M | €6.6M |
| Total current liabilities | €154.1M | €48.6M |
| Long-term debt | €7.6M | €7.9M |
| Lease obligations | €10.2M | €11.0M |
| Other long-term liabilities | €30.5M | €36.9M |
| Total liabilities | €192.2M | €93.3M |
| Shareholders' equity | ||
| Retained earnings (deficit) | −€124.9M | −€124.3M |
| Minority interest | €0 | €0 |
| Total shareholders' equity | −€4.4M | €32.7M |
| Key figures | ||
| Total debt | €7.6M | €7.9M |
| Net cash (debt) | €63.3M | −€5.4M |
| Working capital | −€50.1M | −€8.9M |
| Tangible book value | −€41.5M | −€2.2M |
| Shares outstanding | 209.6M | 209.6M |
| Current ratio | 0.67 | 0.82 |
| Quick ratio | 0.50 | 0.09 |
| Debt / equity | — | 0.24 |
| Equity / assets | −2.4% | 25.9% |
Quarterly columns are labeled by the month the quarter ended. Figures in euros as reported (latest annual report filed —); data from EODHD.
PSQL financial position
At the end of fiscal 2025 (December 31, 2025), Pasqal had total assets of €187.8 million (up 49.1% from a year earlier), total liabilities of €192.2 million and shareholders' equity of -€4.4 million. It held €70.9 million in cash and short-term investments against €7.6 million of debt, a net cash position of €63.3 million. Its current ratio was 0.67.
Related: PSQL income statement, PSQL cash flow statement, PSQL key metrics. See the PSQL stock overview for the latest quote and news.
PSQL balance sheet FAQ
What are Pasqal's total assets?
Pasqal reported total assets of €187.8 million at the end of fiscal 2025 (December 31, 2025), compared with €126.0 million a year earlier.
How much debt does Pasqal have?
Pasqal had €7.6 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 Pasqal have?
Pasqal held €70.9 million in cash and short-term investments at the end of fiscal 2025; with €7.6 million of debt that is net cash of €63.3 million.
What is Pasqal's book value?
Pasqal's shareholders' equity (book value) was -€4.4 million at the end of fiscal 2025.
What is Pasqal's current ratio?
Pasqal had current assets of €104.0 million and current liabilities of €154.1 million, a current ratio of 0.67 (current liabilities exceed current assets).
How much goodwill does Pasqal have?
Pasqal carried €37.1 million of goodwill and intangible assets, 19.8% of total assets, at the end of fiscal 2025.