Fusion Fuel Green PLC (HTOO) Cash Flow Statement
Where HTOO’s cash came from and went, 2025
December 31, 2025 · euros- Cash from operations
- −€7.9M
- Capital expenditures
- €309,296 2.2% of revenue
- Free cash flow
- −€8.2M −59.4% margin
- Returned to shareholders
- —
- Change in cash
- €386,153 cash at year-end €574,754
Drawn to scale: where the cash came from and how it was used. Hover for values.
HTOO operating cash flow, capex and free cash flow
HTOO cash flow trends, 2018–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Operating cash flow | −€438,6082018 | −€7.9M2025 | — | |
| Capital expenditures | €02018 | €309,2962025 | — | |
| Free cash flow | −€438,6082018 | −€8.2M2025 | — | |
| Free cash flow margin | −428.8%2023 | −59.4%2025 | +369.4 pts | |
| Operating cash flow / net income | −0.612018 | −0.622021 | −0.02 | |
| Stock-based compensation | €02019 | €1.6M2025 | — | |
| Capex / revenue | 207.3%2023 | 2.2%2025 | −205.0 pts |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
HTOO cash flow by activity
HTOO net income vs operating cash flow
Operating cash flow above net income usually means earnings are backed by cash (depreciation and stock-based pay are non-cash expenses).
HTOO cash flow statement in euros
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|
| Operating activities | ||||||||
| Net income | −€1.6M | −€13.7M | −€31.0M | −€27.3M | €23.6M | −€183.1M | −€2,000 | €724,493 |
| Depreciation & amortization | €141,197 | €2.6M | €2.5M | €1.0M | €351,000 | €346,000 | €346,000 | — |
| Stock-based compensation | €1.6M | €2.2M | €1.4M | €3.5M | −€841,000 | €1.4M | €0 | — |
| Change in working capital | −€3.1M | €658,000 | €2.2M | −€11.1M | −€7.3M | −€2.2M | €1,000 | −€46,349 |
| Other non-cash items | −€4.9M | −€397,194 | €15.7M | €4.1M | −€30.4M | €179.4M | −€346,000 | −€1.1M |
| Cash from operating activities | −€7.9M | −€8.6M | −€9.2M | −€29.9M | −€14.7M | −€4.2M | −€1,000 | −€438,608 |
| Investing activities | ||||||||
| Capital expenditures | −€309,296 | −€190,000 | −€8.6M | −€10.7M | −€18.8M | −€1.4M | −€15,000 | €0 |
| Investments (net) | — | €800,000 | −€1.2M | €25.0M | −€45.5M | −€1.4M | −€15,000 | — |
| Acquisitions & other investing | −€128,704 | €225,670 | €8.6M | €10.7M | €18.8M | €1.4M | €15,000 | −€48.3M |
| Cash from investing activities | −€438,000 | €835,670 | −€1.2M | €25.0M | −€45.5M | −€1.4M | −€15,000 | −€48.3M |
| Financing activities | ||||||||
| Dividends paid | — | — | — | — | — | — | −€2.1M | — |
| Share repurchases & issuance (net) | — | — | — | — | — | — | −€3.7M | — |
| Net borrowing (repayment) | €5.0M | €518,000 | €73,000 | −€1.3M | −€470,000 | −€14,000 | €14,000 | — |
| Shares issued | €3.9M | €5.9M | €3.0M | €3.7M | €0 | €65.1M | €3,000 | €0 |
| Other financing | −€350,352 | €286,998 | €0 | €0 | €10.1M | −€818,000 | €5.8M | €48.7M |
| Cash from financing activities | €8.5M | €6.7M | €3.1M | €2.4M | €9.6M | €64.3M | €17,000 | €48.7M |
| Summary | ||||||||
| Net change in cash | €386,153 | −€933,000 | −€4.4M | −€2.4M | −€50.3M | €58.0M | −€13,208 | −€29,379 |
| Cash at end of period | €574,754 | €214,000 | €860,000 | €5.2M | €7.7M | €58.0M | €1,000 | €14,208 |
| Free cash flow | −€8.2M | −€8.5M | −€17.8M | −€40.5M | −€33.4M | −€5.6M | −€16,000 | −€438,608 |
| Free cash flow margin | −59.4% | −527.7% | −428.8% | — | — | — | — | — |
| Capex / revenue | 2.2% | 11.8% | 207.3% | — | — | — | — | — |
| Operating cash flow / net income | — | — | — | — | −0.62 | — | — | −0.61 |
| Mar '26 | Jun '25 | Mar '24 | Dec '23 | Sep '23 | Dec '22 | Sep '22 | Jun '22 | Mar '22 | |
|---|---|---|---|---|---|---|---|---|---|
| Operating activities | |||||||||
| Net income | €1.2M | −€2.8M | −€8.6M | −€6.9M | −€8.6M | −€16.8M | −€2.9M | −€3.8M | −€3.8M |
| Depreciation & amortization | €56,197 | €85,000 | €173,500 | €344,000 | €173,500 | €574,000 | €152,000 | €138,000 | €138,000 |
| Stock-based compensation | €1.1M | €438,000 | €613,000 | €83,500 | €613,000 | €876,000 | €878,000 | €877,500 | €877,500 |
| Change in working capital | −€3.8M | €668,000 | €2.0M | −€859,000 | €2.0M | €1.0M | −€3.0M | −€3.5M | −€3.5M |
| Other non-cash items | −€4.9M | €42,000 | €3.6M | €5.0M | €3.6M | €7.8M | −€2.0M | −€2.0M | −€2.0M |
| Cash from operating activities | −€6.3M | −€1.6M | −€2.2M | −€2.4M | −€2.2M | −€6.5M | −€6.8M | −€8.3M | −€8.3M |
| Investing activities | |||||||||
| Capital expenditures | −€292,296 | −€17,000 | −€1.5M | −€2.8M | −€1.5M | −€598,000 | −€1.9M | −€3.2M | −€3.2M |
| Investments (net) | — | — | — | — | — | €7.7M | €6.8M | — | — |
| Acquisitions & other investing | — | −€170,000 | €3.5M | €170,000 | €3.5M | — | €1.9M | €8.5M | €8.5M |
| Cash from investing activities | — | −€187,000 | €2.0M | −€2.6M | €2.0M | — | €6.8M | €5.2M | €5.2M |
| Financing activities | |||||||||
| Shares issued | €0 | €0 | €0 | €0 | €0 | €1.5M | €2.2M | €0 | €0 |
| Other financing | — | €1.9M | €442,500 | €1.1M | €442,500 | −€1.0M | −€201,000 | −€50,500 | −€50,500 |
| Cash from financing activities | — | €1.9M | €442,500 | €1.1M | €442,500 | €493,000 | €2.0M | −€50,500 | −€50,500 |
| Summary | |||||||||
| Net change in cash | €257,153 | €129,000 | €205,000 | −€2.7M | −€2.1M | €1.6M | €1.6M | €2.0M | −€2.8M |
| Cash at end of period | €574,754 | €343,000 | €205,000 | €3.1M | €1.0M | €5.2M | €3.6M | €2.0M | €4.8M |
| Free cash flow | −€6.6M | −€1.6M | −€3.8M | −€5.1M | −€3.8M | −€7.1M | −€8.7M | −€11.5M | −€11.5M |
| Free cash flow margin | −95.4% | −23.4% | −182.1% | — | −182.1% | — | — | — | — |
| Capex / revenue | 4.2% | 0.2% | 74.3% | — | 74.3% | — | — | — | — |
| Operating cash flow / net income | −5.21 | — | — | — | — | — | — | — | — |
Negative numbers are cash paid out. Quarterly columns are labeled by the month the quarter ended. Figures in euros as reported; data from EODHD.
HTOO cash generation
In fiscal 2025 (ended December 31, 2025), Fusion Fuel Green generated -€7.9 million of cash from operations and spent €0.3 million on capital expenditures, leaving free cash flow of -€8.2 million, −59.4% of revenue. Cash and equivalents rose by €0.4 million over the year.
Related: HTOO income statement, HTOO balance sheet. See the HTOO stock overview for the latest quote and news.
HTOO cash flow FAQ
What is Fusion Fuel Green's free cash flow?
Fusion Fuel Green's free cash flow was -€8.2 million in fiscal 2025: -€7.9 million of operating cash flow minus €0.3 million of capital expenditures It was -€8.5 million a year earlier..
How much cash does Fusion Fuel Green generate from operations?
Fusion Fuel Green generated -€7.9 million of cash from operating activities in fiscal 2025.
How much does Fusion Fuel Green spend on capital expenditures?
Fusion Fuel Green spent €0.3 million on capital expenditures in fiscal 2025, 2.2% of revenue, compared with €0.2 million the year before.