Block Energy

BLOE · AIM · Energy · mcap £12m · 0.9p

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Financials · LTM to 30 Jun 26

Source: results 28 Sep 26 ↗

Going-concern uncertainty

Revenue: £4.1m
Operating profit: −£1.7m
Net income: −£1.9m
Free cash flow: −£1.1m
Net cash: £521k
Market cap: £12.5m
EV / EBIT: –
FCF yield: −8.4%
Price / book: 0.5×

Latest half-year · H1 26 vs H1 25 results 28 Sep 26 ↗

Revenue: £2.1m
Operating profit: −£435k
Net income: −£490k
Cash from operations: −£309k

Extracted automatically from the company's results announcements; check the source before relying on a figure. Not investment advice.

As reported Key figures · multi-year

Income statement Balance sheet Cash flow

Latest interim Latest annual

Half-year Results, published 28 Sep 26 · read the announcement ↗

Condensed Consolidated Interim Statement of Comprehensive Income · For the six-month period ended 30 June 2026

	30 June 2026 Unaudited $’000	30 June 2025 Unaudited $’000
Continuing operations:
Revenue	2,887	3,380
Cost of sales
Direct costs	(1,854)	(1,777)
Oil inventory adjustments	69	(498)
Depreciation and depletion of oil and gas assets	(597)	(619)
	(2,382)	(2,894)
Gross profit	505	486
Administrative expenses	(1,147)	(1,010)
Share-based payments	-	(14)
Foreign exchange movements	57	16
	(1,090)	(1,008)
Operating loss	(585)	(522)
Other income	123	32
Finance income	19	30
Finance expense	(216)	(179)
Loss for the period before taxation	(659)	(639)
Taxation	-	-
Loss for the period from continuing operations (attributable to the equity holders of the parent)	(659)	(639)
Items that may be reclassified subsequently to profit or loss
Exchange differences on translation of foreign operations	(105)	(38)
Total comprehensive loss for the period attributable to the equity holders of the parent	(764)	(677)
Loss per share (basic and diluted)	(0.06)c	(0.08)c
Adjusted EBITDA (non-IFRS measure)	56	81

Condensed Consolidated Interim Statement of Financial Position · As at 30 June 2026

	30 June 2026 Unaudited $'000	31 December 2025 Audited $'000
Non-current assets
Intangible assets	796	745
Property, plant and equipment	22,525	22,810
Other non-current assets	4,312	-
	27,633	23,555
Current assets
Inventory	3,911	3,819
Trade and other receivables	650	826
Cash and cash equivalents	2,690	1,493
Total current assets	7,251	6,138
Total assets	34,884	29,693
Equity and liabilities
Capital and reserves attributable to equity holders of the Company
Share capital	6,183	4,642
Share premium	41,804	36,958
Other reserves	2,454	2,441
Foreign exchange reserve	738	843
Accumulated deficit	(20,017)	(19,358)
Total equity	31,162	25,526
Non-current liabilities
Borrowings	2,000	-
Total non-current liabilities	2,000	-
Current liabilities
Trade and other payables	643	1,207
Borrowings	-	2,000
Provisions	1,079	960
Total current liabilities	1,722	4,167
Total liabilities	3,722	4,167
Total equity and liabilities	34,884	29,693

Condensed Consolidated Interim Statement of Cash Flows · For the six-month period ended 30 June 2026

	30 June 2026 Unaudited $’000	30 June 2025 Unaudited $’000
Operating activities
Loss for the period before income tax	(659)	(639)
Adjustments for
Finance and other income	(142)	(62)
Finance expense	216	179
Depreciation and depletion	597	619
Share-based payments expense	-	14
Foreign exchange movement	51	47
Net cash flows from operating activities before changes in working capital	63	158
Decrease in trade and other receivables	176	58
Decrease in trade and other payables	(562)	(486)
(Increase)/decrease in inventory	(92)	441
Net cash flows from operating activities	(415)	171
Investing activities
Expenditure in respect of intangible assets	(52)	(150)
Expenditure in respect of PP&E	(236)	(209)
Interest and other income	142	62
Investment in CLN (Pilgrim)	(4,312)	-
Cash used in investing activities	(4,458)	(297)
Financing activities
Issue of ordinary share capital	6,267	-
Costs of issue of share capital	(37)	-
Interest paid	(160)	(165)
Net cash flows from/(used in) financing activities	6,070	(165)
Net increase/(decrease) in cash and cash equivalents	1,197	(291)
Cash and cash equivalents at start of period	1,493	1,136
Cash and cash equivalents at end of period	2,690	845

Final Results, published 01 Jun 26 · read the announcement ↗

Consolidated Statement of Comprehensive Income for the Year Ended 31 December 2025 · Continuing operations $'000 $'000

	Year ended 31 December 2025	Year ended 31 December 2024
Revenue	6,057	7,533
Cost of sales
Direct costs	(3,572)	(3,496)
Oil inventory adjustments	(596)	(22)
Depreciation and depletion of oil and gas assets	(1,290)	(1,236)
Total cost of sales	(5,458)	(4,754)
Gross profit	599	2,779
Other administrative costs	(2,629)	(2,568)
Share based payments charge	(195)	(386)
Foreign exchange movement	(30)	(27)
Total operating loss	(2,255)	(202)
Other income	65	35
Finance income	37	33
Finance expense	(365)	(475)
	(263)	(407)
Loss for the year before taxation	(2,518)	(609)
Taxation	-	-
Loss for the year from continuing operations (attributable to the equity holders of the parent)	(2,518)	(609)
Items that may be reclassified subsequently to profit and loss
Exchange differences on translation of foreign operations	210	(135)
Total comprehensive loss for the year (attributable to the equity holders of the parent)	(2,308)	(744)
Loss per share basic and diluted	(0.31)c	(0.08)c
Earnings before interest, tax, depreciation and amortisation (EBITDA) 3a	(935)	1,061

Consolidated Statement of Financial Position for the Year Ended 31 December 2025

	31 December 2025 $'000	31 December 2024 $'000
Non-current assets
Intangible assets	745	268
Property, plant and equipment	22,810	22,976
Total non-current assets	23,555	23,244
Current assets
Inventory	3,819	4,299
Trade and other receivables	826	804
Cash and cash equivalents	1,493	1,136
Total current assets	6,138	6,239
Total assets	29,693	29,483
Equity and liabilities
Capital and reserves attributable to equity holders of the Parent Company
Share capital	4,642	3,733
Share premium	36,958	34,879
Other reserves	2,441	5,066
Foreign exchange reserve	843	633
Accumulated deficit	(19,358)	(18,998)
Total equity	25,526	25,313
Non-current liabilities
Borrowings	-	2,000
Total non-current liabilities	-	2,000
Current liabilities
Trade and other payables	1,207	1,237
Borrowings	2,000	-
Provisions	960	933
Total current liabilities	4,167	2,170
Total liabilities	4,167	4,170
Total equity and liabilities	29,693	29,483

Consolidated Statement of Cash Flows for the Year Ended 31 December 2025

	Year ended 31 December 2025 $'000	Year ended 31 December 2024 $'000
Cash flow from operating activities
Loss for the year before tax	(2,518)	(609)
Adjustments for
Depreciation and depletion	1,290	1,236
Finance charges	365	475
Finance income	(37)	(33)
Other income	(65)	(35)
Creditors paid in shares	21	31
Share based payments expense	195	386
Foreign exchange movement	206	(47)
Operating cash flows before movements in working capital	(543)	1,404
(Increase)/decrease in trade and other receivables	(22)	167
Movement in trade and other payables*	420	(252)
Decrease in inventory	480	78
Net cash flow from operating activities	335	1,397
Cash flow from investing activities
Income received	101	6
Expenditure in respect of E&E	(477)	(218)
Expenditure in respect of PP&E	(1,121)	(445)
Net cash used in investing activities	(1,497)	(657)
Cash flow from financing activities
Proceeds from Share issues	1,972	-
Cost of share issues	(90)	-
Interest paid	(365)	(311)
Net cash inflow/(outflow) from financing activities	1,517	(311)
Net increase in cash and cash equivalents in the year	355	429
Cash and cash equivalents at start of year	1,136	713
Effects of foreign exchange rate changes on cash and cash equivalents	2	(6)
Cash and cash equivalents at end of year	1,493	1,136

As published in the company's results announcement: every line, heading and subtotal, read automatically from the text. Figures in brackets are negative; units as stated in the column headings.

Income statement Cash flow Balance sheet

Annual Half-yearly

Latest report: H1 26 (six months to 30 Jun 26), published 28 Sep 26 · read the results ↗

£m unless stated · newest first · italic = calculated (LTM, H2 = FY − H1) · hover a value for its source

	LTM Jun 26	FY 25	FY 24
Revenue to operating profit
Revenue	4.1	4.6	5.9
Gross profit	0.5	0.5	2.2
EBITDA	–	(0.7)	0.8
Operating profit	(1.7)	(1.7)	(0.2)
Share-based payments	(0.1)	(0.1)	(0.3)
Operating profit to net income
Finance costs	(0.3)	(0.3)	(0.4)
Profit before tax	(1.9)	(1.9)	(0.5)
Tax	0.0	0.0	0.0
Net income (owners)	(1.9)	(1.9)	(0.5)
Per share
EPS basic	(0.2p)	(0.2p)	(0.1p)

	H1 26	vs H1 25	H2 25	H1 25
Revenue to operating profit
Revenue	2.1	−18%	2.0	2.6
Gross profit	0.4	0%	0.1	0.4
Adjusted EBITDA	0.0	n/m	–	0.1
Operating profit	(0.4)	n/m	(1.3)	(0.4)
Share-based payments	0.0	n/m	(0.1)	(0.0)
Operating profit to net income
Finance costs	(0.2)	+16%	(0.1)	(0.1)
Profit before tax	(0.5)	n/m	(1.4)	(0.5)
Tax	0.0	n/m	0.0	0.0
Net income (owners)	(0.5)	n/m	(1.4)	(0.5)
Per share
EPS basic	(0.0p)	–	(0.2p)	(0.1p)
EPS diluted	(0.0p)	–	–	(0.1p)

	LTM Jun 26	FY 25	FY 24
Operating activities
Cash from operations	(0.2)	0.3	1.1
Interest paid	(0.3)	(0.3)	(0.2)
Investing activities
Capex (PP&E)	(0.9)	(0.9)	(0.3)
Financing activities
Shares issued	6.2	1.5	0.0

	H1 26	vs H1 25	H2 25	H1 25
Operating activities
Cash from operations	(0.3)	n/m	0.1	0.1
Interest paid	(0.1)	−7%	(0.1)	(0.1)
Investing activities
Capex (PP&E)	(0.2)	+9%	(0.7)	(0.2)
Capex (intangibles)	(0.0)	−67%	–	(0.1)
Financing activities
Shares issued	4.7	n/m	1.5	0.0

	Latest Jun 26	FY 25	FY 24
Non-current assets
Other intangibles	0.6	0.6	–
Property, plant & equipment	17.0	16.9	18.3
Non-current assets	20.8	17.5	18.5
Current assets
Inventories	3.0	2.8	3.4
Trade receivables	0.5	0.6	0.6
Cash	2.0	1.1	0.9
Current assets	5.5	4.6	5.0
Total assets	26.3	22.0	23.5
Current liabilities
Trade payables	0.5	0.9	1.0
Borrowings, current	0.0	1.5	0.0
Current liabilities	1.3	3.1	1.7
Non-current liabilities
Borrowings, non-current	1.5	0.0	1.6
Non-current liabilities	1.5	0.0	1.6
Total liabilities	2.8	3.1	3.3
Equity
Total equity	23.5	19.0	20.2

	H1 26	H2 25	H2 24
Non-current assets
Other intangibles	0.6	0.6	–
Property, plant & equipment	17.0	16.9	18.3
Non-current assets	20.8	17.5	18.5
Current assets
Inventories	3.0	2.8	3.4
Trade receivables	0.5	0.6	0.6
Cash	2.0	1.1	0.9
Current assets	5.5	4.6	5.0
Total assets	26.3	22.0	23.5
Current liabilities
Trade payables	0.5	0.9	1.0
Borrowings, current	0.0	1.5	0.0
Current liabilities	1.3	3.1	1.7
Non-current liabilities
Borrowings, non-current	1.5	0.0	1.6
Non-current liabilities	1.5	0.0	1.6
Total liabilities	2.8	3.1	3.3
Equity
Total equity	23.5	19.0	20.2

Line items extracted automatically from each results announcement; when a later report restates a period, the later figure is shown. LTM and H2 are calculated from reported periods. Check the source before relying on a figure.

Company filings. Not investment advice.