Annual Report 2025

Annual Report 2025

Consolidated Statements of Financial Position

Consolidated Statements of Financial Position

 

 

 

 

As of December 31,

(in thousands of $)

 

Note

 

2025

 

2024

 

2023

Assets

 

 

 

 

 

 

 

 

Non‑current assets

 

 

 

 

 

 

 

 

Property, plant and equipment

 

4

 

48,247

 

43,517

 

22,675

Intangible assets

 

5

 

272,103

 

181,445

 

125,228

Deferred tax assets

 

22

 

1,295,853

 

924,299

 

97,211

Research and development incentive receivables

 

 

 

86,212

 

94,854

 

76,706

Investment in a joint venture

 

25

 

3,378

 

9,268

 

9,912

Prepaid expenses

 

 

 

25,811

 

23,643

 

47,327

Other non-current assets

 

6

 

51,990

 

42,393

 

39,662

Total non‑current assets

 

 

 

1,783,594

 

1,319,419

 

418,721

 

 

 

 

 

 

 

 

 

Current assets

 

 

 

 

 

 

 

 

Inventories

 

7

 

473,530

 

407,233

 

310,550

Prepaid expenses

 

8

 

328,476

 

187,948

 

134,072

Trade and other receivables

 

9

 

1,646,692

 

904,471

 

496,687

Research and development incentive receivables

 

 

 

10,367

 

4,625

 

2,584

Financial assets

 

10

 

948,750

 

1,878,890

 

1,131,000

Cash and cash equivalents

 

11

 

3,491,289

 

1,499,936

 

2,048,844

Total current assets

 

 

 

6,899,104

 

4,883,103

 

4,123,737

 

 

 

 

 

 

 

 

 

Total assets

 

 

 

8,682,698

 

6,202,522

 

4,542,458

 

 

 

 

 

 

 

 

 

 

 

 

 

As of December 31,

(in thousands of $)

 

Note

 

2025

 

2024

 

2023

Equity and liabilities

 

 

 

 

 

 

 

 

Equity

 

12

 

 

 

 

 

 

Equity attributable to owners of the parent

 

 

 

 

 

 

 

 

Share capital

 

 

 

7,354

 

7,227

 

7,058

Share premium

 

 

 

6,186,554

 

5,948,916

 

5,651,497

Translation differences

 

 

 

138,570

 

126,832

 

131,543

Accumulated losses

 

 

 

(279,769)

 

(1,571,804)

 

(2,404,844)

Other reserves

 

 

 

1,270,383

 

987,112

 

712,253

Total equity

 

 

 

7,323,092

 

5,498,283

 

4,097,507

 

 

 

 

 

 

 

 

 

Non-current liabilities

 

 

 

 

 

 

 

 

Provisions for employee benefits

 

 

 

3,093

 

1,803

 

1,449

Lease liabilities

 

20

 

36,327

 

32,520

 

15,354

Deferred tax liabilities

 

22

 

 

 

5,155

Total non-current liabilities

 

 

 

39,420

 

34,323

 

21,958

 

 

 

 

 

 

 

 

 

Current liabilities

 

 

 

 

 

 

 

 

Lease liabilities

 

20

 

10,833

 

6,533

 

4,646

Trade and other payables

 

14

 

1,267,144

 

649,993

 

414,013

Tax liabilities

 

22

 

42,209

 

13,390

 

4,334

Total current liabilities

 

 

 

1,320,186

 

669,916

 

422,993

 

 

 

 

 

 

 

 

 

Total liabilities

 

 

 

1,359,606

 

704,239

 

444,951

 

 

 

 

 

 

 

 

 

Total equity and liabilities

 

 

 

8,682,698

 

6,202,522

 

4,542,458

The accompanying notes form an integral part of these consolidated financial statements.