Fusion Fuel Green PLC (HTOO) restated its 2025 annual report, increasing its net loss from €1.0 million to €5.0 million. On September 25, 2026, the company’s Audit Committee concluded that the previous financial statements should no longer be relied upon because of significant accounting errors.
The errors related to the company’s investment in Quality Industrial Corp. They involved improper foreign currency translation, goodwill impairment and misclassification of financial results.
The non-cash restatement reduced total equity by €3.8 million, from €20.5 million to €16.7 million.
In its amended filing, Fusion Fuel disclosed a material weakness in internal financial reporting controls, citing insufficient accounting staff and a lack of segregated duties. Management concluded that internal controls were ineffective as of the end of 2025.