Here are the 10-K annual reports from North European Oil Royalty Trust (NRT) in our archive since June 2025, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-K covers the audited annual report, with the full financial statements, so if you follow NRT and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full NRT filings page.
North European Oil Royalty Trust reports a strong fiscal 2025, with gas, sulfur and oil royalties rising to $8.65 million from $5.79 million, driven mainly by higher German gas prices and a stronger Euro despite lower gas volumes. Net income increased to $7.94 million, or $0.86 per unit, and total cash distributions grew to $0.81 per unit. The Trust remains a passive royalty vehicle with 9,190,590 units outstanding as of October 31, 2025, holding overriding royalty interests in the Oldenburg concession in Germany, where gas provides about 94% of royalty income. Management highlights that these royalty interests are depleting assets, production volumes are declining, and the Trust depends on operators’ drilling and investment decisions, but internal controls and cybersecurity oversight are described as effective. A cost depletion percentage of 8.9814% was calculated for 2025 for unit holders’ tax reporting.