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

 

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