UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

(Mark One)

☒

QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended ~~January~~April 3130, 2026 or

☐

TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from to .

Commission File Number 1-8245

NORTH EUROPEAN OIL ROYALTY TRUST

(Exact ~~Name~~name of ~~Registrant~~registrant as ~~Specified~~specified in its ~~Charter~~charter)

Delaware		22-2084119
State or Other Jurisdiction of Incorporation or Organization		I.R.S. Employer Identification No.
State or other jurisdiction of incorporation or organization		I.R.S. Employer Identification No.

PO Box 107 East Schodack, NY		12063
PO Box 107. East Schodack, NY		12063
Address of Principal Executive Offices		Zip Code
Address of principal executive offices		Zip Code

(732) 741-4008 (Registrant's ~~Telephone~~telephone ~~Number~~number, ~~Including~~including ~~Area~~area ~~Code~~code)

Securities registered pursuant to Section 12(b) of the Act:


Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Units of Beneficial Interest	NRT	New York Stock Exchange

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange 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 submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant 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 smaller reporting company or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.


Large accelerated filer ☐	Accelerated filer ☐
Non-accelerated filer ☒	Smaller reporting company ☒
	Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying 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 ~~January~~April 3130, 2026

PART I -- FINANCIAL INFORMATION

Item 1.

Financial Statements.

STATEMENTS OF ASSETS, LIABILITIES AND TRUST CORPUS (NOTE 1)

~~JANUARY~~APRIL 3130, 2026 AND OCTOBER 31, 2025

(Unaudited)

	~~2026~~	2026	~~2025~~	2025
ASSETS
Current assets -- Cash and cash equivalents	$	3,881,094	$	4,785,156
Current assets - - Cash and cash equivalents	$	3,910,974	$	4,785,156
Producing gas and oil royalty rights,net of amortization (Notes 1 and 2)		1		1
Producing gas and oil royalty rights, net of amortization (Notes 1 and 2)		1		1
Total Assets	$	3,~~881~~910,~~095~~975	$	4,785,157
LIABILITIES AND TRUST CORPUS
Current liabilities - - Distributions to be paid to unit owners	$	2,021,930	$	2,849,083
Trust corpus (Notes 1 and 2)		1		1
Undistributed earnings		1,~~859~~889,~~164~~044		1,936,073
Total Liabilities and Trust Corpus	$	3,~~881~~910,~~095~~975	$	4,785,157

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