New Sources Energy (NSE) H2 2025 earnings summary

Executive summary

• Launched an Energy Transition Investment Platform, marking a strategic shift to renewable energy investments and establishing a Green Finance Framework to support sustainable financing and transparency.

• Exited Euronext's penalty bench after receiving an unqualified auditor's opinion for the first time in eight years, restoring compliance and market confidence.

• Entered a collaboration with Conduit Ventures to bridge capital market gaps and accelerate investments in scalable, de-risked renewable energy projects.

Financial highlights

• No revenues generated in 2025 as the company remained in a start-up phase.

• Net loss after taxes for 2025 was €988 thousand, compared to a net loss of €904 thousand in 2024.

• Shareholders' equity decreased by €240 thousand to negative €38 thousand at year-end 2025.

• Cash and cash equivalents declined to €64 thousand at year-end 2025 from €501 thousand in 2024.

• Accumulated losses reached €2,310 thousand, with significant tax losses carried forward not recognized as deferred tax assets.

Outlook and guidance

• Focus remains on renewable energy generation, transport, storage, and support solutions, especially hydrogen and methanol.

• Management is actively seeking additional funding to support ongoing operations and future investments, with a material uncertainty regarding going concern due to limited cash reserves.

• The company expects to continue cost reductions and pay management fees in shares to preserve cash.