BGL Blue Gold Ltd

Overview and Growth

In fiscal 2025, Blue Gold Ltd reported net loss of $21.91M. On a per-share basis, diluted EPS was -$1.56, which connects the reported earnings outcome with the company’s diluted share count. A diluted share base of 14.07M links the aggregate earnings figure to diluted EPS and helps frame the per-share comparison. Compared with 9.22M diluted shares in fiscal 2024, the current 14.07M base was 52.5% higher. Total assets stood at $37.96M, showing the scale of resources supporting revenue, earnings, liquidity, and financing.

Profitability

Operations produced $16.40M of income after the reported operating expense base, before the remaining non-operating and tax effects. The bottom-line result was a net loss of $21.91M after operating, financing, tax, and other recognized items. EBITDA was $16.45M, adding a pre-interest, tax, depreciation, and amortization view of the company’s earnings capacity. Before income taxes, the company reported $21.91M of earnings, providing a bridge between the operating result and final net income. Relative to total assets, the net loss represented 57.7%. The bottom-line deficit increased from $11.64M in fiscal 2024 to $21.91M.

Liquidity and Capital Structure

The company held $37.96M of assets against $58.12M of liabilities and -$20.16M of equity, revealing how the asset base was financed. With total equity at -$20.16M, the company carried a negative book-capital position, increasing its reliance on liabilities and future earnings. The near-term balance sheet paired $2.92M of current assets with $15.22M of current liabilities at the reporting date. The current ratio was 0.19x; current liabilities exceeded current assets, leaving a short-term liquidity deficit. Cash and equivalents totaled $679.44K, identifying the most liquid reported component available within the broader current-asset balance. Cash and equivalents represented 4.5% of current liabilities, showing the portion of near-term obligations matched by reported cash alone. Book equity represented -53.1% of total assets, quantifying the balance-sheet share supported by shareholder capital. The liabilities-to-assets relationship was 153.1%, placing reported obligations against the full positive asset balance. Measured against total assets, cash and equivalents represented 1.8%, a balance-sheet composition measure rather than a liquidity forecast. Compared with $33.45M in fiscal 2024, the current asset base moved 13.5% and finished higher. The reported cash balance changed 298.4% from $170.56K in fiscal 2024, ending higher year over year.

Cash Flow and Earnings Quality

The company reported an operating cash outflow of $10.56M, rather than cash generation from operations. The company spent $2.85K on capital expenditures while operations also absorbed cash, so both ongoing activity and investment drew on liquidity during the period. Operating cash flow and capital spending combined to leave a $10.57M cash deficit after capital spending. Relative to total assets, the post-investment cash deficit measured 27.8%. The operating cash outflow widened to $10.56M from $6.23M in fiscal 2024.

Based on the annual report for the fiscal year ending Dec 31, 2025. Analysis generated Oct 21, 2026.