Quantum Blockchain Technologies

QBT · AIM · Financial Services · mcap £4.0m · 0.2p

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Financials · LTM to 30 Jun 26

Source: results 28 Sep 26 ↗

Going-concern uncertaintyQualified audit

Revenue: £0k
Operating profit: −£2.4m
Net income: −£2.4m
Free cash flow: −£2.0m
Net debt: £6.4m
Market cap: £4.0m
EV / EBIT: –
FCF yield: −50.7%
Price / book: –

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

Operating profit: −£1.2m
Net income: −£994k
Cash from operations: −£924k

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 ↗

GROUP STATEMENT OF COMPREHENSIVE INCOME · FOR THE PERIOD ENDED 30 JUNE 2026 · Continuing operations €’000 €’000 €’000

	Six months to 30 June 2026 (Unaudited)	Six months to 30 June 2025 (Unaudited)	Year ended 31 December 2025 (Audited)
Revenue	-	-	-
	-	-	-
Administrative expenses	(1,369)	(1,507)	(2,952)
Other operating income	-	-	-
Operating loss	(1,369)	(1,507)	(2,952)
Other gains and losses	-	-	22
Share of loss from equity-accounted associates	-	-	(160)
Finance charges	223	(30)	(105)
Loss before tax	(1,146)	(1,537)	(3,195)
Taxation	-	-	67
Loss for the period attributable to owners of the parent	(1,146)	(1,537)	(3,128)
Other comprehensive income/(loss)	-	-	-
TOTAL COMPREHENSIVE LOSS FOR THE PERIOD ATTRIBUTABLE TO OWNERS OF THE PARENT	(1,146)	(1,537)	(3,128)
Earnings per share
Basic loss per share (cents) (€	(€0.152)	(€0.107)	0.213)
Diluted loss per share (cents) (€	(€0.088)	(€0.080)	0.149)
GROUP STATEMENTS OF FINANCIAL POSITION
AT 30 JUNE 2026
Non-current assets
Intangible assets	2	2	2
Property, plant and equipment	48	123	75
Financial assets at fair value through profit and loss	48	2	3
Investments in equity-accounted associates	-	-	-
Total non-current assets	99	127	80
Current assets
Trade and other receivables	1,561	1,859	1,782
Cash and cash equivalents	11	1,706	451
Total current assets	1,572	3,565	2,233
Total assets	1,671	3,692	2,313
Current liabilities
Trade and other payables	(345)	(309)	(446)
Borrowings	-	-	(7,776)
Derivative financial instruments	-	-	(133)
Provisions	(64)	(80)	(64)
Total current liabilities	(409)	(389)	(8,419)
Net current assets/(liabilities)	1,163	3,176	(6,186)
Total assets less current liabilities	1,262	3,303	(6,106)
Non-current liabilities
Borrowings	(7,396)	(7,519)	-
Derivative financial instruments	(292)	(317)	-
Total non-current liabilities	(7,688)	(7,836)	-
Total liabilities	(8,097)	(8,225)	(8,419)
Net liabilities	(6,426)	(4,533)	(6,106)
Equity
Share capital	10,150	9,740	9,740
Share premium account	56,207	56,039	56,039
Other reserves	14,503	14,237	14,255
Retained losses	(87,286)	(84,549)	(86,140)
Total equity	(6,426)	(4,533)	(6,106)
GROUP AUDITED STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2025
At 1 January 2025	14,237	(83,012)	(5,391)
Total comprehensive loss for the year	-	(3,128)	(3,128)
Issue of shares	-	-	2,395
Grant of share options	1	-	1
Capital contribution	18	-	18
At 31 December 2025	14,255	(86,140)	(6,106)
GROUP UNAUDITED STATEMENT OF CHANGES IN EQUITY
FOR THE SIX MONTHS TO 30 JUNE 2025
At 1 January 2025	14,237	(83,012)	(5,391)
Total comprehensive loss for the period	-	(1,537)	(1,536)
Issue of shares	-	-	2,395
At 30 June 2025	14,237	(84,549)	(4,533)
GROUP UNAUDITED STATEMENT OF CHANGES IN EQUITY
FOR THE SIX MONTHS TO 30 JUNE 2026
At 1 January 2026	14,255	(86,140)	(6,106)
Total comprehensive loss for the period	-	(1,146)	(1,146)
Issue of shares	-	-	578
Grant of share options	248	-	248
At 30 June 2026	14,503	(87,286)	(6,426)

GROUP UNAUDITED STATEMENT OF CASH FLOWS · FOR THE SIX MONTHS ENDED 30 JUNE 2026

	Six months to 30 June 2026 (Unaudited) €’000	Six months to 30 June 2025 (Unaudited) €’000	Year end 31 Dec 2025 (Audited) €’000
Cash used in operations
Loss before tax	(1,146)	(1,537)	(3,195)
Impairment of investments	-	228	159
Impairment of intercompany receivables	-	-	-
Impairment of other assets	(5)	-	133
Finance charges	(223)	30	(105)
Depreciation expense	29	1	57
Decrease/(increase) in receivables	221	145	221
(Decrease)/increase in payables	(323)	(51)	142
Share based payments	248	-	-
R&D tax credit received	134	(152)	-
Net cash (outflow)/inflow from operating activities	(1,065)	(1,336)	(2,588)
Cash flows from investing activities
Purchase of property, plant and equipment	(2)	7	(17)
Net cash inflow from investing activities	(2)	7	(17)
Cash flows from financing activities
Proceeds from capital issue	574	2,395	2,394
Capital contribution	46	-	18
Net interest received / (paid)	-	29	48
Net cash inflow/(outflow) from financing activities	620	2,424	2,460
Net increase/(decrease) in cash for the period	(447)	1,095	(145)
Cash and cash equivalents at beginning of year	451	604	604
Exchange differences	7	7	(8)
Cash and cash equivalents at end of period	11	1,706	451

Final Results, published 29 Jun 26 · read the announcement ↗

GROUP STATEMENT OF COMPREHENSIVE INCOME · FOR THE YEAR ENDED 31 DECEMBER 2025 · €’000 €’000


Revenue	-	-
	-	-
Administrative expenses	7	(2,952)	(2,977)
Other income	-	-
Operating loss	(2,952)	(2,977)
Other gains and losses	22	89
Impairment of investments	7	(160)	(241)
Share of loss from equity-accounted associates	8	-	-
Finance costs	9	(105)	124
Loss before tax	(3,195)	(3,005)
Tax	12	67	152
Loss for the year	(3,128)	(2,853)
TOTAL COMPREHENSIVE LOSS FOR THE YEAR	(3,128)	(2,853)
Earnings per share
Basic loss per share (cents)	13	€0.213	€0.221
Diluted loss per share (cents)	13	€0.149	€0.150
There was no other comprehensive income during the year
GROUP AND COMPANY
STATEMENTS OF FINANCIAL POSITION
AS AT 31 DECEMBER 2025
Notes Group 2025 Group 2024 Company 2025 Company 2024
€’000 €’000 €’000 €’000
Non-current assets
Intangible assets	2	2	-	-
Property, plant and equipment	75	113	-	-
Financial assets at fair value through profit and loss	3	162	3	3
Investments held at cost	-	-	1	1
Investments in equity-accounted associates	-	-	-	-
Total non-current assets	80	277	4	4
Current assets
Trade and other receivables	1,782	2,004	465	630
Cash and cash equivalents	451	604	443	600
Total current assets	2,233	2,608	908	1,230
Total assets	2,313	2,885	912	1,234
Current liabilities
Trade and other payables	(446)	(360)	(433)	(458)
Borrowings	(7,776)	-	(7,776)	-
Derivative financial instruments	(133)	-	(133)	-
Provisions	(64)	(80)	(64)	(80)
Total current liabilities	(8,419)	(440)	(8,406)	(538)
Net current assets/(liabilities)	(6,186)	2,168	(7,498)	692
Total assets less current liabilities	(6,106)	2,445	(7,494)	696
Non-current liabilities
Borrowings	-	(7,519)	-	(7,519)
Derivative financial instruments	-	(317)	-	(317)
Total non-current liabilities	-	(7,836)	-	(7,836)
Total liabilities	(8,419)	(8,276)	(8,406)	(8,374)
Net liabilities	(6,106)	(5,391)	(7,494)	(7,140)
Equity
Share capital	9,740	9,219	9,740	9,219
Share premium account	56,039	54,165	56,039	54,165
Other reserves	14,255	14,237	5,912	5,912
Retained losses	(86,140)	(83,012)	(79,185)	(76,436)
Total equity	(6,106)	(5,391)	(7,494)	(7,140)

The categories of financial assets included in the statement of financial position and the headings in which they are in · 2025 2024 · €’000 €'000


Financial assets:
Financial assets held at fair value through profit and loss	3	162
Investments in equity-accounted associates	-	-
Trade and other receivables	1,782	2,004
Cash and cash equivalents	451	604
	2,236	2,770
:
	2025	2024
€'000 €'000
Financial liabilities at amortised cost
Trade and other payables	446	360
Provisions	64	80
Borrowings	7,776	7,519
Derivative	133	317
	8,419	8,276
Financial instruments measured at fair value
Level 1 Level 2 Level 3
€’000 €’000 €’000
As at 31 December 2025
Investments at fair value through profit or loss	-	-	3
	-	-	3
As at 31 December 2024
Investments at fair value through profit or loss	-	-	162
	-	-	162
Level 1
valued using quoted prices in active markets for identical assets;
Level 2
Level 3
Capital risk management
Significant accounting policies
Financial risk management objectives
Market price risk
Liquidity risk management
Carrying Amount Less than 1 year Between 1 and 5 years Total
€’000 €’000 €’000 €’000
As at 31 December 2025
Trade and other payables	446	-	446
Provisions	64	-	64
Borrowings	7,776	-	7,776
Derivative financial instruments	133	-	133
	8,419	-	8,419
As at 31 December 2024
Trade and other payables	360	-	360
Provisions	80	-	80
Borrowings	-	7,519	7,519
Derivative financial instruments	-	317	317
	440	7,836	8,276
Management believes that based on the information provided in Note 2 – in the ‘
Basis of preparation
’ and ‘
Going concern
Interest rate risk
Group Company
	2024	2025	2024
€’000 €’000 €’000 €’000
Fixed rate instruments
Financial assets	1,781	49	105
Financial liabilities	7,877	7,973	7,842
Change in interest rates will affect the Group’s income statement as follows
Gain / (loss)
Group	2025	2024
€’000 €’000
Euribor +0.5% / +2 / -2 +3 / -3	-0.5%

GROUP AND COMPANY STATEMENT OF CASH FLOWS · FOR THE YEAR ENDED 31 DECEMBER 2025

	Group 2025 €’000	Group 2024 €’000	Company 2025 €’000	Company 2024 €’000
Cash used in operations
Loss before tax	(3,195)	(3,005)	(2,815)	(1,986)
Impairment of investments	159	241	-	253
Share of post-tax losses of equity accounted associates	-	-	-	-
Impairment of intercompany receivables	-	3	-	3
Impairment of other assets	133	55	133	55
Finance charges	(105)	(124)	(105)	(124)
Depreciation expense	57	55	-	-
Decrease in receivables	221	1,240	165	318
Increase/(Decrease) in payables	142	(145)	31	(25)
Share based payments	-	9	-	9
Net cash outflow from operating activities	(2,588)	(1,671)	(2,591)	(1,497)
Cash flows from investing activities
Purchase of investments	-	-	-	-
Purchase of other investments	-	-	-	-
Purchase of property, plant and equipment	(17)	1	-	-
Purchase of intangible assets	-	-	-	-
Net cash outflow from investing activities	(17)	1	-	-
Cash flows from financing activities
Proceeds from capital issue	2,394	-	2,394	-
Net interest received /(paid)	48	51	48	52
Capital contribution	18	162	-	-
Net cash (outflow)/inflow from financing activities	2,460	213	2,442	52
Net (decrease) /increase in cash for the year	(145)	(1,457)	(149)	(1,445)
Cash and cash equivalents at beginning of year	604	2,057	600	2,041
Exchange differences	(8)	4	(8)	4
Cash and cash equivalents at end of year	451	604	443	600

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	–	0.0	0.0
Operating profit	(2.4)	(2.5)	(2.5)
Share-based payments	0.2	0.0	–
Operating profit to net income
Finance costs	0.1	(0.1)	0.1
Profit before tax	(2.4)	(2.7)	(2.5)
Tax	0.1	0.1	0.1
Net income (owners)	(2.4)	(2.7)	(2.4)

	H1 26	vs H1 25	H2 25	H1 25
Revenue to operating profit
Operating profit	(1.2)	n/m	(1.3)	(1.3)
Share-based payments	0.2	n/m	0.0	0.0
Operating profit to net income
Finance costs	0.2	n/m	(0.1)	(0.0)
Profit before tax	(1.0)	n/m	(1.4)	(1.3)
Tax	0.0	n/m	0.1	0.0
Net income (owners)	(1.0)	n/m	(1.4)	(1.3)

	LTM Jun 26	FY 25	FY 24
Operating activities
Cash from operations	(2.0)	(2.2)	(1.4)
Investing activities
Capex (PP&E)	(0.0)	(0.0)	0.0
Financing activities
Shares issued	0.5	2.1	0.0

	H1 26	vs H1 25	H2 25	H1 25
Operating activities
Cash from operations	(0.9)	n/m	(1.1)	(1.1)
Investing activities
Capex (PP&E)	(0.0)	n/m	(0.0)	0.0
Financing activities
Shares issued	0.5	−75%	0.0	2.0

	Latest Jun 26	FY 25	FY 24
Non-current assets
Property, plant & equipment	0.0	0.1	0.1
Other investments	0.0	0.0	–
Non-current assets	0.1	0.1	0.2
Current assets
Trade receivables	1.3	1.6	1.7
Cash	0.0	0.4	0.5
Current assets	1.4	1.9	2.2
Total assets	1.4	2.0	2.4
Current liabilities
Trade payables	0.3	0.4	0.3
Borrowings, current	0.0	6.8	0.0
Current liabilities	0.4	7.3	0.4
Non-current liabilities
Borrowings, non-current	6.4	0.0	6.2
Non-current liabilities	6.6	0.0	6.5
Total liabilities	7.0	7.3	6.9
Equity
Total equity	(5.5)	(5.3)	(4.5)

	H1 26	H2 25	H1 25	H2 24
Non-current assets
Property, plant & equipment	0.0	0.1	0.1	0.1
Other investments	0.0	0.0	0.0	–
Non-current assets	0.1	0.1	0.1	0.2
Current assets
Trade receivables	1.3	1.6	1.6	1.7
Cash	0.0	0.4	1.5	0.5
Current assets	1.4	1.9	3.0	2.2
Total assets	1.4	2.0	3.2	2.4
Current liabilities
Trade payables	0.3	0.4	0.3	0.3
Borrowings, current	0.0	6.8	0.0	0.0
Current liabilities	0.4	7.3	0.3	0.4
Non-current liabilities
Borrowings, non-current	6.4	0.0	6.4	6.2
Non-current liabilities	6.6	0.0	6.7	6.5
Total liabilities	7.0	7.3	7.0	6.9
Equity
Total equity	(5.5)	(5.3)	(3.9)	(4.5)

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.