Bellona reports heavy losses and auditor doubts its future viability

Bellona’s latest financial statements reveal a significant operating deficit and a negative equity position for 2025, reflecting ongoing revenue shortfalls. The board explained that weaker income weakened solvency, yet it expects a sharp rise in operating profit for 2026, supported by a major fundraising campaign in June 2026 and better performance so far this year. Despite the rescue effort, auditors at BDT Viken expressed substantial doubt about the foundation’s ability to continue, citing possible violations of foundation law and delayed reporting.

The foundation also recorded a steep write-down of Bellona Holding, reducing its book value to a token figure. Earlier, a large fundraising drive averted imminent bankruptcy, but recent defaults on internal loan repayments have led to formal breach notices.