Sono Group N.V. (SSM) Cash Flow Statement
Where SSM’s cash came from and went, 2025
December 31, 2025 · euros- Cash from operations
- −€6.2M
- Capital expenditures
- €4 0.0% of revenue
- Free cash flow
- −€6.2M −4,143.5% margin
- Returned to shareholders
- —
- Change in cash
- −€977,063 cash at year-end €175,326
Drawn to scale: where the cash came from and how it was used. Hover for values.
SSM operating cash flow, capex and free cash flow
SSM cash flow trends, 2019–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Operating cash flow | −€8.7M2019 | −€6.2M2025 | — | |
| Capital expenditures | €1.1M2019 | €42025 | −87.6%/yr | |
| Free cash flow | −€9.8M2019 | −€6.2M2025 | — | |
| Free cash flow margin | −304,956.2%2021 | −4,143.5%2025 | +300,812.7 pts | |
| Operating cash flow / net income | −0.232024 | −1.812025 | −1.58 | |
| Stock-based compensation | €32.2M2020 | €02025 | −100.0% | |
| Capex / revenue | 10,325.0%2021 | 0.0%2025 | −10,325.0 pts |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
SSM cash flow by activity
SSM 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).
SSM cash flow statement in euros
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|
| Operating activities | |||||||
| Net income | €3.4M | €65.0M | −€45.7M | −€183.7M | −€64.0M | −€56.0M | −€9.8M |
| Depreciation & amortization | €30,929 | €18,000 | €29,000 | €855,493 | €678,457 | €385,000 | €220,818 |
| Stock-based compensation | €0 | −€19,000 | −€572,000 | €1.4M | €2.0M | €32.2M | — |
| Change in working capital | €374,484 | −€8.2M | €2.3M | −€738,000 | €7.8M | €20.2M | −€27,601 |
| Other non-cash items | −€10.0M | −€71.5M | €32.5M | €42.5M | €6.3M | €2.1M | €985,799 |
| Cash from operating activities | −€6.2M | −€14.7M | −€11.4M | −€139.6M | −€47.1M | −€1.2M | −€8.7M |
| Investing activities | |||||||
| Capital expenditures | −€4 | −€80,000 | −€3.8M | −€47.2M | −€1.7M | −€42,000 | −€1.1M |
| Acquisitions & other investing | — | €1.3M | −€7.5M | €0 | €0 | €0 | €0 |
| Cash from investing activities | — | €1.2M | −€11.3M | −€47.2M | −€1.7M | −€42,000 | −€1.1M |
| Financing activities | |||||||
| Net borrowing (repayment) | €6.0M | €7.0M | €0 | €28.0M | — | — | — |
| Shares issued | €85,000 | €0 | €0 | €56.6M | €0 | €0 | €0 |
| Other financing | −€902,015 | €0 | €6,000 | −€1.6M | €138.6M | €44.1M | €8.7M |
| Cash from financing activities | €5.2M | €7.0M | €6,000 | €83.0M | €138.6M | €44.1M | €8.7M |
| Summary | |||||||
| Net change in cash | −€977,063 | −€6.1M | −€22.9M | −€102.6M | €89.7M | €42.9M | €402,385 |
| Cash at end of period | €175,326 | €1.4M | €7.4M | €30.4M | €132.9M | €43.3M | €402,385 |
| Free cash flow | −€6.2M | −€14.8M | −€15.3M | −€186.8M | −€48.8M | −€1.2M | −€9.8M |
| Free cash flow margin | −4,143.5% | — | −36,342.9% | −76,075.3% | −304,956.2% | — | — |
| Capex / revenue | 0.0% | — | 9,147.6% | 19,235.4% | 10,325.0% | — | — |
| Operating cash flow / net income | −1.81 | −0.23 | — | — | — | — | — |
| Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|
| Operating activities | |||||||||
| Net income | −€1.2M | −€920,363 | €8.8M | €8.6M | −€4.2M | −€1.4M | €80.9M | −€16.8M | −€1.6M |
| Depreciation & amortization | €15,036 | €9,067 | €8,000 | −€80,000 | €42,000 | €5,000 | €18,000 | €81,000 | €171,000 |
| Stock-based compensation | — | — | −€19,000 | −€19,000 | — | — | €1.5M | €1.5M | −€338,000 |
| Change in working capital | €253,575 | €342,445 | −€683,000 | €60.2M | €462,000 | −€455,000 | −€9.5M | €56.2M | €755,000 |
| Other non-cash items | −€558,900 | −€1.0M | −€10.3M | −€77.0M | €6.1M | −€1.6M | −€85.3M | −€31.2M | −€11.2M |
| Cash from operating activities | −€1.5M | −€1.6M | −€2.2M | −€8.2M | €2.4M | −€3.5M | −€12.4M | €9.8M | −€12.3M |
| Investing activities | |||||||||
| Capital expenditures | −€53,788 | −€1.6M | −€63,000 | −€63,000 | −€6,000 | −€2,000 | −€3.8M | −€3.8M | −€3.8M |
| Investments (net) | — | €0 | €0 | — | — | — | — | — | — |
| Acquisitions & other investing | €53,590 | €1.6M | €0 | €0 | −€2,000 | €4,000 | €5.1M | −€7.5M | €15.2M |
| Cash from investing activities | −€198 | −€7,968 | −€63,000 | −€63,000 | −€8,000 | €2,000 | €1.3M | −€11.3M | €11.4M |
| Financing activities | |||||||||
| Net borrowing (repayment) | €3.1M | €976,000 | €1.9M | €7.1M | — | — | — | — | — |
| Shares issued | €0 | €0 | €0 | €0 | €0 | €0 | €0 | €0 | €0 |
| Other financing | −€378,632 | €268,342 | €0 | −€813,000 | €286,000 | €3.0M | €4.0M | €167,000 | −€36,000 |
| Cash from financing activities | €2.7M | €1.2M | €1.9M | €6.2M | €286,000 | €3.0M | €4.0M | €167,000 | −€36,000 |
| Summary | |||||||||
| Net change in cash | €1.6M | −€467,305 | −€553,000 | −€1.6M | €29,000 | €369,000 | −€5.6M | −€1.2M | −€903,000 |
| Cash at end of period | €1.9M | €397,935 | €801,000 | €1.4M | €2.2M | €2.2M | €1.8M | €7.4M | €8.6M |
| Free cash flow | −€1.5M | −€1.5M | −€2.2M | −€8.3M | €2.4M | −€3.5M | −€12.4M | €6.0M | −€8.4M |
| Free cash flow margin | −3,661.3% | −5,896.6% | −8,342.3% | — | — | — | — | — | −17,171.4% |
| Capex / revenue | 128.6% | 6,442.8% | 242.3% | — | — | — | — | — | 7,836.7% |
| Operating cash flow / net income | — | — | −0.25 | −0.95 | — | — | −0.15 | — | — |
Negative numbers are cash paid out. Quarterly columns are labeled by the month the quarter ended. Figures in euros as reported; data from EODHD.
SSM cash generation
In fiscal 2025 (ended December 31, 2025), Sono generated -€6.2 million of cash from operations and spent €0.0 million on capital expenditures, leaving free cash flow of -€6.2 million, −4,143.5% of revenue. Cash and equivalents fell by €1.0 million over the year.
Related: SSM income statement, SSM balance sheet. See the SSM stock overview for the latest quote and news.
SSM cash flow FAQ
What is Sono's free cash flow?
Sono's free cash flow was -€6.2 million in fiscal 2025: -€6.2 million of operating cash flow minus €0.0 million of capital expenditures It was -€14.8 million a year earlier..
How much cash does Sono generate from operations?
Sono generated -€6.2 million of cash from operating activities in fiscal 2025, −1.81 times its net income of €3.4 million.
How much does Sono spend on capital expenditures?
Sono spent €0.0 million on capital expenditures in fiscal 2025, 0.0% of revenue, compared with €0.1 million the year before.