TURBO ENERGY, S.A.
Consolidated Statements of Operations
(Expressed in Euro)
| Year ended December 31, | ||||||||||||||
| Note | 2025 | 2024 | 2023 | |||||||||||
| Revenue | 18 | € | 9,350,238 | € | 9,109,968 | € | 11,723,132 | |||||||
| Revenue - related parties | 11,18 | 10,524,288 | 306,651 | 1,380,547 | ||||||||||
| Other operating income | 111,974 | 221,393 | 37,092 | |||||||||||
| Total Revenue | 19,986,500 | 9,638,012 | 13,140,771 | |||||||||||
| Cost and Expenses | ||||||||||||||
| Cost of revenues | 19 | 16,089,421 | 9,080,343 | 10,842,319 | ||||||||||
| Cost of revenues - related parties | 11,18 | - | - | 1,201,244 | ||||||||||
| Selling and administrative | 20 | 2,669,997 | 2,149,157 | 1,529,085 | ||||||||||
| Selling and administrative - related parties | 11,20 | 360,787 | 848,832 | 1,010,769 | ||||||||||
| Salaries and benefits | 1,487,979 | 1,275,208 | 1,105,128 | |||||||||||
| Salaries and benefits - related parties | 11 | 140,333 | 116,843 | 9,999 | ||||||||||
| Bad debt expense | 4 | 13,214 | 138,941 | 84,394 | ||||||||||
| Total Cost and Expenses | 20,761,731 | 13,609,324 | 15,782,938 | |||||||||||
| Loss from operations | (775,231 | ) | (3,971,312 | ) | (2,642,167 | ) | ||||||||
| Other Income (Expense) | ||||||||||||||
| Other income | 13,039 | - | - | |||||||||||
| Other income - related party | 134 | - | - | |||||||||||
| Interest income | 3,457 | 63,118 | 444 | |||||||||||
| Interest expense | (586,713 | ) | (198,580 | ) | (287,281 | ) | ||||||||
| Interest expense - related party | (81,320 | ) | (183,777 | ) | (118,750 | ) | ||||||||
| Recovery of bad debts | 4 | 57,536 | - | - | ||||||||||
| Loss from disposal of equipment | 8 | (42,761 | ) | - | - | |||||||||
| Gain from insurance recoveries on inventory | - | 1,937,819 | - | |||||||||||
| Impairment on inventory due to natural disaster | - | (2,133,385 | ) | - | ||||||||||
| Foreign exchange gain (loss) | (132,832 | ) | 4,516 | (82,881 | ) | |||||||||
| Total Other Income (Expense) | (769,460 | ) | (510,289 | ) | (488,468 | ) | ||||||||
| Net Loss Before Income Tax | (1,544,691 | ) | (4,481,601 | ) | (3,130,635 | ) | ||||||||
| Income tax Expense (Recovery) | ||||||||||||||
| - Current | - | - | (93,022 | ) | ||||||||||
| - Deferred | (388,382 | ) | (1,144,601 | ) | (1,023,826 | ) | ||||||||
| Net Loss | € | (1,156,309 | ) | € | (3,337,000 | ) | € | (2,013,788 | ) | |||||
| Basic and Diluted Net Loss per Ordinary Share | € | (0.02 | ) | € | (0.06 | ) | € | (0.04 | ) | |||||
| Weighted Average Number of Ordinary Shares Outstanding - Basic and Diluted | 55,085,700 | 55,085,700 | 51,469,262 | |||||||||||