$TURB

Turbo Energy, S.A.

CIK:0001963439|SEC Filings

Consolidated Statements of Operations - EUR (€)	12 Months Ended
Consolidated Statements of Operations - EUR (€)	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Total Revenue	€ 19,986,500	€ 9,638,012	€ 13,140,771
Cost and Expenses
Cost of revenues	16,089,421	9,080,343	10,842,319
Cost of revenues - related parties			1,201,244
Selling and administrative	2,669,997	2,149,157	1,529,085
Selling and administrative - related parties	360,787	848,832	1,010,769
Salaries and benefits	1,487,979	1,275,208	1,105,128
Salaries and benefits - related parties	140,333	116,843	9,999
Bad debt expense	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	57,536
Loss from disposal of equipment	(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 Net Income per Ordinary Share (in Euro per share)	€ (0.02)	€ (0.06)	€ (0.04)
Diluted Net Income per Ordinary Share (in Euro per share)	€ (0.02)	€ (0.06)	€ (0.04)
Weighted Average Number of Ordinary Shares Outstanding - Basic (in Shares)	55,085,700	55,085,700	51,469,262
Weighted Average Number of Ordinary Shares Outstanding - Diluted (in Shares)	55,085,700	55,085,700	51,469,262
Revenue
Total Revenue	€ 9,350,238	€ 9,109,968	€ 11,723,132
Revenue - related parties
Total Revenue	10,524,288	306,651	1,380,547
Other operating income
Total Revenue	€ 111,974	€ 221,393	€ 37,092

Consolidated Statements of Cash Flows	12 Months Ended
Consolidated Statements of Cash Flows	Dec. 31, 2025 EUR (€)	Dec. 31, 2024 EUR (€)	Dec. 31, 2023 EUR (€)
Operating Activities
Net loss before income tax	€ (1,544,691)	€ (4,481,601)	€ (3,130,635)
Items not affecting cash:
Stock based compensation	132,015	103,810
Bad debt expense	13,214	138,941	84,394
Recovery of bad debts	(57,536)
Loss from disposal of equipment	42,761
Depreciation of property and equipment	24,883	11,814	19,424
Amortization of intangible assets	242,118	49,684	49,984
Amortization of right-of-use assets	45,162	61,568	58,524
Accretion of lease liabilities	3,028	2,311	2,177
Gain on lease cancellation	(446)
Provision for inventory reserves			312,563
Gain from insurance recoveries on inventory		(1,937,819)
Impairment on inventory due to natural disaster		2,133,385
Changes in non-cash working capital items:
Inventories	(1,492,362)	3,438,571	4,207,694
Accounts receivable and other receivables	1,230,679	(843,993)	832,135
Deferred tax assets	159,621	157,397	(518,080)
Due from related parties	(8,213,386)	1,359,809	(1,306,861)
Due to related parties	64,958	(117,414)	(117,718)
Prepaid expense	(2,622,693)	27,770	(312,548)
Accounts payable and accrued liabilities	9,736,713	867,259	(609,310)
Accrued interest payable	340,810	14,901
Deferred tax liabilities	(2,744)	556	32,783
Income tax payable			578,319
Net cash provided by (used in) operating activities	(1,897,896)	986,949	182,845
Investing Activities
Short-term investments		1,992,000	(2,044,050)
Proceeds from return of short-term investments	17,493
Purchase of equipment	(8,748)	(126,592)	(28,025)
Purchase of intangible assets	(631,294)	(926,953)	(516,684)
Net cash provided by (used in) investing activities	(622,549)	938,455	(2,588,759)
Financing Activities
Net proceed from issuance of common stock through Initial public offering			3,354,781
Proceeds from debt bond	1,667,638	865,882
Repayment of debt bond	(219,463)
Repayment of bank loans	(90,374)	(237,480)	(228,150)
Net proceeds (repayment) from lines of credit	231,256	617,532	(4,116,483)
Repayment of lease liabilities	(47,940)	(63,996)	(60,523)
Payments to related parties	(1,124,328)	(2,142,353)	(640,332)
Proceeds from related parties	212,160	799,105	4,214,567
Net cash provided by (used in) financing activities	628,949	(161,310)	2,523,860
Net change in cash and cash equivalent	(1,891,496)	1,764,094	117,946
Cash and cash equivalent - beginning of period	2,384,625	620,531	502,585
Cash and cash equivalent - end of period	€ 493,129	€ 2,384,625	€ 620,531

Consolidated Statements of Financial Position - EUR (€)	Dec. 31, 2025	Dec. 31, 2024
Current
Cash and cash equivalent	€ 493,129	€ 2,384,625
Accounts receivable and other receivables	1,739,775	2,926,132
Inventories	3,444,184	1,951,822
Amount due from related parties	10,443,887	246,220
Prepaid expense	3,643,077	1,020,384
Investments	34,557	52,050
Total Current Assets	19,798,609	8,581,233
Non- Current Assets
Property and equipment, net	214,966	273,862
Intangible assets, net	2,102,151	1,712,975
Right-of-use assets	21,444	35,311
Deferred tax assets	2,272,573	2,043,812
Total Assets	24,409,743	12,647,193
Current Liabilities
Accounts payable and accrued liabilities	12,647,530	2,910,818
Accrued interest payable	355,711	14,901
Amount due to related parties	2,929,117	1,792,045
Lease liabilities - current portion	12,203	32,367
Bank loans - current portion	4,510,831	4,369,949
Debt bond - current portion	253,352	91,411
Total Current Liabilities	20,708,744	9,211,491
Non-Current Liabilities
Lease liabilities	10,059	3,958
Deferred tax liabilities	30,595	33,339
Debt bond - noncurrent portion	2,060,705	774,471
Total Liabilities	22,810,103	10,023,259
Shareholders’ Equity
Share Capital	2,754,285	2,754,285
Additional paid in capital	3,940,606	3,808,591
Reserve	1,411,846	1,411,846
Accumulated Deficit	(6,507,097)	(5,350,788)
Total Shareholders’ Equity	1,599,640	2,623,934
Total Liabilities and Shareholders’ Equity	€ 24,409,743	€ 12,647,193