SMX (Security Matters) Public Limited Company (SMX) Balance Sheet
SMX balance sheet, 2025
December 31, 2025 · U.S. dollars$41.4M assets = $22.1M liabilities + $19.3M equity
Both columns are drawn to the same scale: what SMX owns equals what it owes plus shareholders’ equity. Hover a block for its value.
SMX financial health
Descriptive bands, not a rating. Fiscal 2025.
SMX balance sheet trends, 2020–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $8.5M2020 | $41.4M2025 | +37.4%/yr | |
| Total liabilities | $2.0M2020 | $22.1M2025 | +61.3%/yr | |
| Shareholders’ equity | $6.4M2020 | $8.6M2025 | +5.9%/yr | |
| Cash & short-term investments | $4.3M2020 | $12.2M2025 | +23.0%/yr | |
| Total debt | $869,0002020 | $9.2M2025 | +60.2%/yr | |
| Net cash (debt) | $3.5M2020 | $3.0M2025 | −$443,000 | |
| Working capital | $3.4M2020 | −$8.9M2025 | −$12.3M | |
| Current ratio | 3.402020 | 0.592025 | −2.81 | |
| Debt / equity | 0.132020 | 1.072025 | +0.93 |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
SMX assets
SMX liabilities and equity
SMX debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
SMX balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Cash & short-term investments | $12.2M | $2.3M | $168,000 | $1.4M | $1.4M | $4.3M |
| Cash & equivalents | $12.2M | $2.3M | $168,000 | $1.4M | $1.4M | $4.3M |
| Receivables | $389,000 | $1.9M | $492,000 | $444,000 | $396,000 | $417,000 |
| Inventory | $0 | $0 | $0 | $3.2M | $184,903 | $0 |
| Other current assets | $198,000 | $102,000 | $142,000 | $72,000 | $0 | $28,000 |
| Total current assets | $12.8M | $4.3M | $802,000 | $5.1M | $1.7M | $4.8M |
| Property, plant & equipment (net) | $501,000 | $616,000 | $800,000 | $969,000 | $1.2M | $1.1M |
| Goodwill & intangible assets | $28.0M | $38.5M | $49.4M | $5.0M | $3.9M | $2.3M |
| Long-term investments | $114,000 | $105,000 | $115,000 | $221,000 | $147,000 | $248,000 |
| Other non-current assets | $0 | $0 | $0 | $0 | $121.1M | $0 |
| Total assets | $41.4M | $43.5M | $51.2M | $11.3M | $128.0M | $8.5M |
| Liabilities | ||||||
| Accounts payable | $8.7M | $9.4M | $10.5M | $3.0M | $916,000 | $515,000 |
| Short-term debt | $8.8M | $5.6M | $3.2M | $1.3M | $307,000 | $338,000 |
| Deferred revenue | $202,000 | $177,000 | $153,000 | $50,000 | $30,000 | $20,000 |
| Total current liabilities | $21.7M | $20.8M | $18.0M | $4.9M | $351,506 | $1.4M |
| Long-term debt | $0 | $0 | $483,000 | $3.7M | $0 | $0 |
| Lease obligations | $424,000 | $418,000 | $452,000 | $470,000 | $503,000 | $589,000 |
| Other long-term liabilities | $382,000 | $336,999 | $411,000 | $525,000 | $4.4M | $616,000 |
| Total liabilities | $22.1M | $21.1M | $18.9M | $9.1M | $4.7M | $2.0M |
| Shareholders' equity | ||||||
| Common stock & paid-in capital | $264.6M | $90.0M | $62.9M | $32.7M | $353 | $21.9M |
| Retained earnings (deficit) | −$251.2M | −$82.0M | −$50.9M | −$30.0M | −$3.0M | −$18.9M |
| Accumulated other comprehensive income | −$4.8M | −$1.8M | −$491,000 | −$537,000 | $223,000 | $605,000 |
| Minority interest | $10.5M | $16.0M | $20.8M | $0 | — | — |
| Total shareholders' equity | $8.6M | $6.2M | $11.5M | $2.2M | $123.3M | $6.4M |
| Key figures | ||||||
| Total debt | $9.2M | $6.0M | $4.1M | $5.4M | $773,000 | $869,000 |
| Net cash (debt) | $3.0M | −$3.6M | −$3.9M | −$4.0M | $643,688 | $3.5M |
| Working capital | −$8.9M | −$16.5M | −$17.2M | $146,000 | $1.3M | $3.4M |
| Tangible book value | −$19.4M | −$32.3M | −$38.0M | −$2.9M | $119.4M | $4.1M |
| Book value per share | — | — | — | — | — | $6.30 |
| Shares outstanding | — | — | — | — | — | 1.0M |
| Current ratio | 0.59 | 0.21 | 0.04 | 1.03 | 4.80 | 3.40 |
| Quick ratio | 0.58 | 0.20 | 0.04 | 0.37 | 5.16 | 3.38 |
| Debt / equity | 1.07 | 0.97 | 0.36 | 2.52 | 0.01 | 0.13 |
| Equity / assets | 20.7% | 14.1% | 22.4% | 19.1% | 96.3% | 76.1% |
| Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Jun '23 | Mar '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||||
| Cash & short-term investments | $12.2M | $750,000 | $2.3M | $2.3M | $2.3M | — | $0 | $168,000 | $168,000 | $3.0M | $1.4M |
| Cash & equivalents | $12.2M | $750,000 | $2.3M | $2.3M | $2.3M | — | $0 | $168,000 | $168,000 | $3.0M | $1.4M |
| Receivables | $389,000 | $1.0M | $1.9M | $1.9M | $0 | $373,000 | $0 | $405,000 | $0 | $1.0M | $444,000 |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $142,000 | $0 | $0 | $3.2M |
| Other current assets | $198,000 | $0 | $132,000 | $102,000 | $2.0M | $0 | $373,000 | $87,000 | $634,000 | $0 | $72,000 |
| Total current assets | $12.8M | $1.8M | $4.3M | $4.3M | $4.3M | $373,000 | $373,000 | $802,000 | $802,000 | $4.1M | $5.1M |
| Property, plant & equipment (net) | $501,000 | $454,000 | $616,000 | $616,000 | $616,000 | $664,000 | $664,000 | $800,000 | $800,000 | $820,000 | $969,000 |
| Goodwill & intangible assets | $28.0M | $36.6M | $38.5M | $38.5M | $38.5M | $49.4M | $49.4M | $49.4M | $49.4M | $1.0M | $5.0M |
| Long-term investments | $114,000 | $0 | $111,000 | $0 | $105,000 | $0 | $115,000 | $0 | $115,000 | $112,000 | $0 |
| Other non-current assets | $0 | $111,000 | $0 | $105,000 | $0 | $115,000 | $0 | $115,000 | $0 | $4.2M | $221,000 |
| Total assets | $41.4M | $38.9M | $43.5M | $43.5M | $43.5M | $50.6M | $50.6M | $51.2M | $51.2M | $10.3M | $11.3M |
| Liabilities | |||||||||||
| Accounts payable | $8.7M | $10.3M | $9.4M | $9.4M | $9.4M | $11.7M | $11.7M | $10.5M | $10.5M | $7.3M | $3.0M |
| Short-term debt | $8.8M | $7.8M | $5.6M | $5.6M | — | $4.0M | — | $3.2M | — | $3.4M | $1.3M |
| Deferred revenue | $202,000 | — | $177,000 | $177,000 | — | — | — | $153,000 | — | $5.5M | $50,000 |
| Total current liabilities | $21.7M | $22.3M | $20.8M | $20.8M | $20.8M | $19.8M | $19.8M | $18.0M | $18.0M | $17.0M | $4.9M |
| Long-term debt | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $483,000 | $938,000 | $0 |
| Lease obligations | $424,000 | — | $427,000 | — | $418,000 | — | $430,000 | — | $452,000 | $433,000 | — |
| Other long-term liabilities | $382,000 | $365,000 | $337,000 | $337,000 | $337,000 | $388,000 | $388,000 | $894,000 | $411,000 | $4.3M | $4.2M |
| Total liabilities | $22.1M | $22.6M | $21.1M | $21.1M | $21.1M | $20.2M | $20.2M | $18.9M | $18.9M | $22.3M | $9.1M |
| Shareholders' equity | |||||||||||
| Common stock & paid-in capital | $264.6M | $110.2M | $90.0M | $90.0M | — | $71.8M | — | $62.9M | — | $51.7M | $32.7M |
| Retained earnings (deficit) | −$251.2M | −$105.7M | −$82.0M | −$82.0M | −$82.0M | −$61.6M | −$61.6M | −$50.9M | −$50.9M | −$63.0M | −$30.0M |
| Accumulated other comprehensive income | −$4.6M | −$3.2M | −$1.5M | −$1.8M | — | −$419,000 | — | −$491,000 | — | −$702,000 | −$537,000 |
| Minority interest | $10.5M | — | $14.9M | — | $16.0M | — | — | — | — | — | — |
| Total shareholders' equity | $8.9M | $1.4M | $6.4M | $6.2M | $6.4M | $9.8M | $9.8M | $11.5M | $11.5M | −$12.0M | $2.2M |
| Key figures | |||||||||||
| Total debt | $9.2M | $8.2M | $6.0M | $6.3M | — | $4.4M | — | $4.1M | $483,000 | $4.7M | $5.4M |
| Net cash (debt) | $3.0M | −$7.4M | −$3.6M | −$4.0M | — | −$4.4M | — | −$3.9M | −$315,000 | −$1.7M | −$4.0M |
| Working capital | −$8.9M | −$20.5M | −$16.5M | −$16.5M | −$16.5M | −$19.4M | −$19.4M | −$17.2M | −$17.2M | −$12.9M | $146,000 |
| Tangible book value | −$19.2M | −$35.2M | −$32.1M | −$32.3M | −$32.1M | −$39.6M | −$39.6M | −$38.0M | −$38.0M | −$13.0M | −$2.9M |
| Book value per share | $4.97 | — | $16.89 | — | — | — | — | — | — | — | — |
| Shares outstanding | 1.8M | — | 380K | — | — | — | — | — | — | — | — |
| Current ratio | 0.59 | 0.08 | 0.21 | 0.21 | 0.21 | 0.02 | 0.02 | 0.04 | 0.04 | 0.24 | 1.03 |
| Quick ratio | 0.58 | 0.08 | 0.20 | 0.20 | 0.11 | 0.02 | 0.00 | 0.03 | 0.01 | 0.24 | 0.37 |
| Debt / equity | 1.04 | 5.99 | 0.93 | 1.03 | — | 0.45 | — | 0.36 | 0.04 | — | 2.52 |
| Equity / assets | 21.4% | 3.5% | 14.7% | 14.1% | 14.7% | 19.3% | 19.3% | 22.4% | 22.4% | −117.0% | 19.1% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed March 20, 2026); data from EODHD.
SMX financial position
At the end of fiscal 2025 (December 31, 2025), SMX Public had total assets of $41.4 million (down 4.8% from a year earlier), total liabilities of $22.1 million and shareholders' equity of $8.6 million. It held $12.2 million in cash and short-term investments against $9.2 million of debt, a net cash position of $3.0 million. Its current ratio was 0.59.
Related: SMX income statement, SMX cash flow statement, SMX key metrics. See the SMX stock overview for the latest quote and news.
SMX balance sheet FAQ
What are SMX Public's total assets?
SMX Public reported total assets of $41.4 million at the end of fiscal 2025 (December 31, 2025), compared with $43.5 million a year earlier.
How much debt does SMX Public have?
SMX Public had $9.2 million of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 1.07.
How much cash does SMX Public have?
SMX Public held $12.2 million in cash and short-term investments at the end of fiscal 2025; with $9.2 million of debt that is net cash of $3.0 million.
What is SMX Public's book value?
SMX Public's shareholders' equity (book value) was $8.6 million at the end of fiscal 2025.
What is SMX Public's current ratio?
SMX Public had current assets of $12.8 million and current liabilities of $21.7 million, a current ratio of 0.59 (current liabilities exceed current assets).
How much goodwill does SMX Public have?
SMX Public carried $28.0 million of goodwill and intangible assets, 67.7% of total assets, at the end of fiscal 2025.