v3.26.3
Taxation (Tables)
 12 Months Ended
Dec. 31, 2025
Notes and other explanatory information [abstract]  
Schedule of reconciliation between taxes on income / losses

 

   2025   2024   2023 
   €’000   €’000   €’000 
Profit/ (loss) before tax   (5,072)   (15,254)   (30,857)
Tax using Company’s domestic tax rate at 12.5%   634    1,907    3,857 
Tax effect of:               
Non-deductible expenses / non-taxable income   211    (764)   (967)
Current-year losses for which no deferred tax asset is recognized   (508)   (805)   (4,647)
Impacts of different foreign tax rates   (64)   156    1,916 
Tax expense of acquired subsidiary (QIND)*   (146)   (25)   - 
Release of deferred tax liabilities (QIND PPA)*   238    -    - 
Impairment of goodwill - not deductible   (132)   -    - 
Consolidation adjustments and deconsolidated entities not subject to Group tax   (141)   -    - 
Total tax   92    470    159 

 

*The income tax credit for the year ended 31 December 2025 of €0.1 million comprises the release of the deferred tax liability recognised on the QIND purchase price allocation intangibles (€0.24 million), less the current tax expense of Al Shola Gas (€0.15 million). No tax arises in Ireland or Spain, as current-year losses are not recognised as deferred tax assets. The income tax charge for the year ended 31 December 2024 of €25k comprises the tax expense of QIND.
Schedule of deferred tax liability

 

   2025   2024 
   €’000   €’000 
Opening balance   (2,198)   - 
Recognised on acquisition of QIND   -    (2,198)
Released to profit or loss   238    - 
Exchange differences   219    - 
Closing balance   (1,741)   (2,198)
Schedule of unrecognised deferred tax assets

The Group has not recognised deferred tax assets in respect of the following items, on the basis that it is not considered probable that sufficient future taxable profits will be available in the relevant jurisdictions against which the unused tax losses and deductible temporary differences could be utilised:

 

   2025   2024 
   €’000   €’000 
Unused tax losses   2,423    2,935 
Deductible temporary differences - share-based payments   195    393 
Total unrecognised deferred tax assets   2,618    3,328