Cyprus-based biotechnology company iDNA Genomics Public Ltd on Monday announced that it approved its audited consolidated financial statements for 2025, reporting a wider loss and a sharp deterioration in its balance sheet compared with the previous year.

The company’s board approved its annual report and audited consolidated financial statements for the year ended December 31, 2025, prepared in accordance with applicable legislation and accounting standards.

The report includes the consolidated financial statements, the management report and the independent auditors’ report.

The annual report will be sent to all shareholders and published on the company’s website, while printed copies will also be available free of charge from its registered office in Nicosia.

The company’s annual general meeting has been scheduled for September 25, 2026, at 10.30am, and will be held electronically.

iDNA Genomics recorded a loss attributable to company shareholders of €3.46 million in 2025, compared with a loss of €2.97 million in 2024.

The company said its financial position, development and performance were not considered satisfactory, with the board working to limit losses.

At the end of 2025, the group’s total assets had fallen sharply to €1.14m, from €2.86m a year earlier.

At the same time, net liabilities increased to €4.21m, compared with €664,091 in 2024.

The company operates in genomics and biotechnology, specialising in personalised healthcare and providing genetic testing services through medical professionals as well as directly to consumers.

During 2025, the group restructured the way it provides diagnostic services, moving away from a model based on selling diagnostic kits to doctors and distributing them through pharmaceutical wholesalers and pharmacies.

It instead adopted a doctor-centred model in which patients are referred by treating physicians and tests are carried out through partner diagnostic centres.

The group also continued efforts to strengthen the scientific evidence supporting its services through clinical studies and the publication of scientific papers in cooperation with academic and research institutions.

During the first half of 2026, the group’s subsidiaries took measures aimed at controlling costs and strengthening their capital and funding base.

These measures included securing additional sources of financing and reflected continued support from the company’s shareholders.

Management said it remains focused on improving operational efficiency, maintaining service quality, expanding its network of partners and making use of existing strategic partnerships.

The company said developments in these areas, together with its strategic cooperation with the VIANEX Group, form part of management’s efforts to support the growth of the group’s activities.

The group is exposed to interest rate, credit and liquidity risks through its financial instruments.

Its operating income and cash flows are largely independent of market interest rate movements because it does not hold significant interest-bearing assets.

However, it is exposed to interest rate risk through non-current borrowing, with variable-rate borrowing creating cash flow risk and fixed-rate borrowing creating fair-value risk.

Company management monitors interest rate movements continuously and acts accordingly.

Credit risk arises from cash and cash equivalents, bank deposits, and credit exposure to wholesale and retail customers.

The group manages credit risk on a group-wide basis, requiring the majority of bank balances to be held with independently assessed institutions meeting minimum creditworthiness requirements.

Where wholesale customers have independent credit assessments, the group uses those assessments.

Where no independent assessment is available, management evaluates the customer’s credit quality based on its financial position, previous experience and other relevant factors.

The group also applies procedures aimed at minimising potential losses arising from liquidity risk, which can occur when the maturities of assets and liabilities do not match.

No dividend has been proposed for 2025, the company reported.

There were also no changes to the company’s share capital during the year under review.