| Schedule of segments reporting |
Prior
to the acquisition of QIND in November 2024, the Group operated as a single segment focused on green hydrogen technology. The comparative
information for the year ended 31 December 2024 has been re-presented on the current segmental basis.
Schedule of segments reporting
| Segment results | |
LPG Distribution & Engineering | | |
All other activities | | |
Total | |
| For the year ended 31 December 2025 (restated) | |
| €’000 | | |
| €’000 | | |
| €’000 | |
| Revenue from external customers | |
| 14,410 | | |
| 5 | | |
| 14,415 | |
| Cost of sales | |
| (10,179 | ) | |
| (56 | ) | |
| (10,235 | ) |
| Gross profit / (loss) | |
| 4,232 | | |
| (51 | ) | |
| 4,180 | |
| Other income | |
| 284 | | |
| 1,074 | | |
| 1,358 | |
| Administration expenses | |
| (4,636 | ) | |
| (7,060 | ) | |
| (11,696 | ) |
| Share-based payments expense | |
| - | | |
| (1,562 | ) | |
| (1,562 | ) |
| Impairment expense | |
| (2 | ) | |
| (1,060 | ) | |
| (1,062 | ) |
| Operating profit / (loss) | |
| (122 | ) | |
| (8,660 | ) | |
| (8,782 | ) |
| Net finance income / (costs) | |
| (708 | ) | |
| 3,193 | | |
| 2,485 | |
| Profit on deconsolidation of subsidiary | |
| - | | |
| 1,225 | | |
| 1,225 | |
| Profit / (loss) before tax | |
| (829 | ) | |
| (4,242 | ) | |
| (5,072 | ) |
| Income tax (expense) / credit | |
| (146 | ) | |
| 238 | | |
| 92 | |
| Profit / (loss) for the year | |
| (975 | ) | |
| (4,004 | ) | |
| (4,980 | ) |
| | |
| | | |
| | | |
| | |
| For the year ended 31 December 2024 (restated) | |
| €’000 | | |
| €’000 | | |
| €’000 | |
| Revenue from external customers | |
| 1,605 | | |
| - | | |
| 1,605 | |
| Cost of sales | |
| (1,168 | ) | |
| - | | |
| (1,168 | ) |
| Gross profit / (loss) | |
| 437 | | |
| - | | |
| 437 | |
| Other income | |
| - | | |
| 881 | | |
| 881 | |
| Administration expenses | |
| (205 | ) | |
| (16,255 | ) | |
| (16,460 | ) |
| Share-based payments expense | |
| - | | |
| (2,189 | ) | |
| (2,189 | ) |
| Impairment expense | |
| - | | |
| - | | |
| - | |
| Operating profit / (loss) | |
| 232 | | |
| (17,562 | ) | |
| (17,330 | ) |
| Net finance income / (costs) | |
| (42 | ) | |
| 272 | | |
| 230 | |
| Profit on deconsolidation of subsidiary | |
| - | | |
| 1,846 | | |
| 1,846 | |
| Profit / (loss) before tax | |
| 190 | | |
| (15,444 | ) | |
| (15,254 | ) |
| Income tax (expense) / credit | |
| (25 | ) | |
| - | | |
| (25 | ) |
| Profit / (loss) for the year | |
| 165 | | |
| (15,444 | ) | |
| (15,279 | ) |
|
| Schedule of segment assets and liabilities explanatory |
Schedule of segment assets and liabilities explanatory
| Segment assets and liabilities | |
LPG Distribution & Engineering | | |
All other activities | | |
Total | |
| For the year ended 31 December 2025 (restated) | |
| €’000 | | |
| €’000 | | |
| €’000 | |
| Segment assets | |
| 13,752 | | |
| 18,318 | | |
| 32,070 | |
| Segment liabilities | |
| (15,595 | ) | |
| 263 | | |
| (15,333 | ) |
| Segment net assets / (liabilities) | |
| (1,844 | ) | |
| 18,581 | | |
| 16,737 | |
| | |
| | | |
| | | |
| | |
| For the year ended 31 December 2024 | |
| | | |
| | | |
| | |
| Segment assets | |
| 13,038 | | |
| 23,040 | | |
| 36,078 | |
| Segment liabilities | |
| (14,868 | ) | |
| (5,973 | ) | |
| (20,842 | ) |
| Segment net assets / (liabilities) | |
| (1,830 | ) | |
| 17,067 | | |
| 15,236 | |
|
| Schedule of revenue from external customers by geographical information |
The
Group’s revenue from external customers, based on the country in which the customer is located, and its non-current assets by country
in which the assets are located, are analysed as follows:
Schedule of revenue from external customers by geographical information
| | |
Revenue 2025 | | |
Revenue 2024 (restated) | | |
Non-current assets 2025 (restated) | | |
Non-current assets 2024 (restated) | |
| | |
€’000 | | |
€’000 | | |
€’000 | | |
€’000 | |
| United Arab Emirates | |
| 14,410 | | |
| 1,605 | | |
| 25,151 | | |
| 30,793 | |
| Spain | |
| 5 | | |
| - | | |
| 79 | | |
| - | |
| Ireland | |
| - | | |
| - | | |
| 46 | | |
| 75 | |
| South Africa | |
| - | | |
| - | | |
| 367 | | |
| - | |
| Total | |
| 14,415 | | |
| 1,605 | | |
| 25,643 | | |
| 30,867 | |
|