北欧皇家石油信托 2026年季度报告

FORM 10-Q ☒(Mark One)QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF1934For the quarterly period endedApril 30, 2026 or ☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF1934For the transition period fromto. Commission File Number1-8245 NORTH EUROPEAN OIL ROYALTY TRUST (Exact name of registrant as specified in its charter)Delaware22-2084119State or other jurisdiction of incorporation or organizationI.R.S. Employer Identification No. PO Box 107. East Schodack, NY12063Address of principal executive officesZip Code (732) 741-4008(Registrant's telephone number, including area code) Securities registered pursuant to Section 12(b) of the Act: Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the SecuritiesExchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports),and (2) has been subject to such filing requirements for the past 90 days. Yes☒No☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submittedpursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that theregistrant was required to submit and post such files). Yes☒No☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smallerreporting company or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smallerreporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act. Accelerated filer☐Smaller reporting company☒Emerging growth company☐ Large accelerated filer☐Non-accelerated filer☒ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period forcomplying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes☐No☒ 9,190,590 Units of Beneficial Interest Outstanding as of April 30, 2026 PART I -- FINANCIAL INFORMATION (Unaudited) The accompanying notes are an integral part of these financial statements. STATEMENTS OF REVENUE COLLECTED AND EXPENSES PAID (NOTE 1)FOR THE THREE MONTHS ENDED APRIL 30, 2026 AND 2025(Unaudited)20262025Gas, sulfur, and oil royalties received$2,383,374$2,471,301Interest income15,11819,224Trust Income2,398,4922,490,525Operating expenses(346,682)(227,821)Related party expenses (Note 3)-(1,698)Trust Expenses(346,682)(229,519)Net Income$2,051,810$2,261,006Net income per unit$0.22$0.25Distributions per unit paid or to be paid to unit owners$0.22$0.20The accompanying notes are an integral part of these financial statements.- 3 - FOR THE SIX MONTHS ENDED APRIL 30, 2026 AND 2025 (Unaudited) NOTES TO FINANCIAL STATEMENTS (Unaudited) (1)Summary of significant accounting policies: Basis of accounting - The accompanying financial statements of North European Oil Royalty Trust (the “Trust”) are prepared in accordance withthe rules and regulations of the Securities and Exchange Commission. Financial statement balances and financial results are presentedon a modified cash basis of accounting, which is a comprehensive basis of accounting other than accounting principles generallyaccepted in the United States (“GAAP basis”). In the opinion of management, all adjustments that are considered necessary for a fairpresentation of these financial statements, including adjustments of a normal, recurring nature, have been included. On a modified cash basis, revenue is earned when cash is received and expenses are incurred when cash is paid. GAAP basisfinancial statements disclose revenue as earned and expenses as incurred, without regard to receipts or payments. The modified cashbasis of accounting is utilized to permit the accrual for distributions to be paid to unit owners (those distributions approved by theTrustees for the Trust). The Trust’s distributable income represents royalty income received by the Trust during the period plus interestincome less any expenses incurred by the Trust, all on a cash basis. In the opinion of the Trustees, the use of the modified cash basis ofaccounting provides a more meaningful presentation to unit owners of the results of operations of the Trust. The results of any interim period are not necessarily indicative of the results to be expected for the fiscal year. These financialstatements should be read in conjunction with the financial statements that were included in the Trust’s Annual Report onForm 10-Kfor the year ended October 31, 2025 (the “2025 Form 10-K”). The Statements of Assets, Liabilities and Trust Corpus included hereincontain information from the Trust’s 2025