New Sources Energy NV (NSE) AI Stock Analysis

New Sources Energy NV

(Amsterdam:NSE)

Select Model

Rating:46Neutral

Price Target:EUR 0.03▲(0.00% Upside)

Action:reiterated

Date:07/17/26

The score is primarily constrained by very weak financial performance (pre-revenue profile, widening losses, accelerating cash burn, and negative equity). Technicals provide a modest offset as the price is above key moving averages with neutral-to-slightly positive momentum, while valuation remains challenged due to ongoing losses and no dividend yield provided.

Positive Factors

Industry TailwindsOperating in Renewable Utilities positions the company within a multi‑year structural growth theme driven by decarbonization, supportive regulation and capex cycles. That market backdrop can sustain demand for project development and services over a 2–6 month horizon and beyond.

Negative Factors

Pre‑Revenue ProfileA sustained pre‑revenue status means the business model has not yet produced commercial sales, preventing self‑funding and validation of unit economics. Over months this increases dependence on financing and raises execution risk for moving from development to revenue generation.

New Sources Energy NV (NSE) vs. iShares MSCI Netherlands ETF (EWN)

Market Cap: EUR 4.07M
Dividend Yield: ―
Average Volume (3M): 38.30K
Price to Earnings (P/E): -4.5
Beta (1Y): -0.05
Revenue Growth: ―
EPS Growth: 37.78%
Country: Netherlands
Employees: 0
Sector: General
Sector Strength: 55
Industry: Renewable Utilities

New Sources Energy NV Business Overview & Revenue Model

Company Description

New Sources Energy N.V. specializes in conceiving, managing, and financially supporting initiatives dedicated to producing electricity from renewable resources. The firm rebranded in July 2011, having previously been known as Management Share NV. Its...

How the Company Makes Money

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New Sources Energy NV Financial Statement Overview

Summary

Financials are very weak: no reported revenue across periods, losses widened in the latest year, and operating and free cash flow remain consistently negative with a sharp deterioration in 2025. The balance sheet moved to negative equity in 2025, increasing solvency and funding risk, despite reported debt dropping to €0.

Income Statement

8Very Negative

Balance Sheet

18Very Negative

Cash Flow

10Very Negative

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	0	0	0	0	0	0
Gross Profit	0	-2,000	-1,000	0	-4,000	0
EBITDA	-907.00K	-980.00K	-892.00K	-5,000	0	0
Net Income	-916.00K	-988.00K	-904.00K	-418.00K	-92.00K	-88.00K
Balance Sheet
Total Assets	19.00K	216.00K	509.00K	137.00K	111.00K	103.00K
Cash, Cash Equivalents and Short-Term Investments	0	64.00K	501.00K	25.00K	17.00K	2,000
Total Debt	0	0	91.00K	0	79.00K	57.00K
Total Liabilities	426.00K	254.00K	309.00K	45.00K	216.00K	116.00K
Stockholders Equity	-407.00K	-38.00K	200.00K	92.00K	-106.00K	-13.00K
Cash Flow
Free Cash Flow	-165.00K	-612.00K	-114.00K	-330.00K	-7,000	-61.00K
Operating Cash Flow	-165.00K	-612.00K	-106.00K	-330.00K	-7,000	-61.00K
Investing Cash Flow	23.00K	0	-8,000	0	0	0
Financing Cash Flow	137.00K	175.00K	590.00K	338.00K	22.00K	58.00K

New Sources Energy NV Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

NL:NSE against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
NL:VPK	67Neutral	EUR 5.96B	13.20	14.41%	4.63%	0.85%	-0.29%
NL:SBMO	62Neutral	EUR 5.83B	7.11	20.73%	2.90%	0.92%	151.43%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
NL:FUR	48Neutral	EUR 885.96M	-13.90	-4.97%	1.88%	-10.78%	-145.27%
NL:NSE	46Neutral	EUR 4.07M	-4.46	―	―	―	37.78%
NL:FAST	42Neutral	EUR 645.22M	-25.78	―	―	52.71%	26.21%
NL:SIFG	42Neutral	EUR 86.38M	-4.90	-7.51%	―	83.51%	53.79%

* General Sector Average

Performance Comparison

NL:NSE and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
NL:NSE	New Sources Energy NV	0.03	-0.00	-7.41%
NL:FUR	Fugro NV	7.99	-0.37	-4.38%
NL:SBMO	SBM Offshore NV	34.82	13.18	60.91%
NL:SIFG	Sif Holding N.V.	2.89	-4.15	-58.95%
NL:VPK	Royal Vopak NV	54.40	17.38	46.95%
NL:FAST	Fastned BV Shs Depositary Receipt 1 Shs	33.00	11.65	54.57%

Glossary

BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.

Date of analysis: Jul 16, 2026

New Sources Energy NV AI Stock Analysis