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"esef-42716_2023": {
"value": "\n \n 1. GENERAL INFORMATION \u00a0\n
\n \n \n \n H2APEX Group SCA \n and its subsidiaries (until \u00a0 18 January 2024 \u201cexceet Group SCA\u201d and \u00a0hereafter the \u201cGroup\u201d or \u201cH2APEX\u201d) is a com- \u00a0pany existing as a \u201c \n \n Soci\u00e9t\u00e9 en Commandite \n \u00a0\n \n par Actions \n \u201d under the law of Luxembourg and \u00a0listed on the regulated market of the Frank- \u00a0furt Stock Exchange (WKN: A0YF5P / ISIN: \u00a0LU0472835155) in the Prime Standard seg- \u00a0ment. Since the business combination with \u00a0APEX Nova Holding GmbH (hereafter \u201cAPEX \u00a0Group\u201d), which has been closed 19 January \u00a02023, the business objective of the Group is to \u00a0develop projects for the decentralized supply ofgreen hydrogen. \u00a0\n
\n \n H2APEX Group SCA is established for an \u00a0 unlimited period of time and moved its regis- \u00a0tered office from \n 1\n 7\n , \n r\n ue de Flaxweiler, \n L\n -\n 6776 \u00a0\n \n Grevenmacher \n to 19, rue de Flaxweiler,L-6776 \u00a0Grevenmacher (Luxembourg) in November \u00a02023 and is registered with the Register of \u00a0Commerce and Companies of Luxembourg \u00a0under the section B number 148.525. \u00a0\n
\n \n \n On 18 January 2024 the shareholders decided \u00a0 at the Extraordinary General Meeting(\u201cEGM\u201d), \u00a0that the former exceet Group SCA will be \u00a0renamed into H2APEX Group SCA. With the re- \u00a0naming a common branding with APEX Group \u00a0is finalized. \u00a0\n
\n \n \n The Articles of Association have been modified \u00a0 on 18 January 2024 for the last time. \u00a0\n
\n \n H2APEX Group SCA is managed by H2APEX \u00a0 Management S.\u00e0 r.l. (until 18 January 2024 \u00a0\u201cexceet Group S.\u00e0 r.l. and hereafter the \u201cGeneral \u00a0Partner\u201d), a limited liability company under the \u00a0law of \n \n \n Luxembourg \n \n (Soci\u00e9t\u00e9 \u00e0 responsabilit\u00e9 \u00a0limit\u00e9e (S.\u00e0 r.l.)), the shares in which are held \u00a0indirectly by the founders of the Active Own- \u00a0ership Group (AOC) Florian Schuhbauer and \u00a0Klaus Roehrig (50% each). \u00a0\n
\n \n \n The Group\u2019s purpose is the investing and devel- \u00a0 oping of projects for the decentralized supply \u00a0of green hydrogen. The Group develops and \u00a0operates green hydrogen production plants, \u00a0as well as offers solutions for adjacent areas \u00a0such as storage, district heating, and mobility. \u00a0The Group serves customers in \n Germany\n and \u00a0Luxembourg. \u00a0\n
\n \n \n With the merger agreement between H2APEX \u00a0 and APEX Group, the accounting policies of \u00a0H2APEX did not change. According IFRS 10 \u00a0the transaction has been recorded as \u201creverse \u00a0acquisition\u201d. Based on this, exceet Group SCA \u00a0as the legal acquirer has been identified as the \u00a0acquiree. The reverse acquisition is accounted \u00a0for using the acquisition method. Conse- \u00a0quently, the consolidated financial statements \u00a0of H2APEX represent the continuation of the \u00a0consolidated financial statements of APEX \u00a0Group with the exception of the capital struc- \u00a0ture, which has been adjusted to reflect the \u00a0capital structure of H2APEX as ultimate parent \u00a0company. The figures as of 31 December 2022 \u00a0reflect APEX-Group only. \u00a0\n
\n \n The acquisition transaction between exceet \u00a0 Group SCA (as from 18 January 2024: H2 APEX \u00a0Group S.C.A.) and Apex Nova Holding GmbH \u00a0has been accounted as reverse acquisition. \u00a0\n
\n ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfGeneralInformationAboutFinancialStatementsExplanatory",
"language": "en",
"entity": "scheme:391200TZVOLI3RYBWS74",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"esef-42717_2023": {
"value": "\n H2APEX Group SCA \n ",
"dimensions": {
"concept": "ifrs-full:NameOfReportingEntityOrOtherMeansOfIdentification",
"language": "en",
"entity": "scheme:391200TZVOLI3RYBWS74",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"esef-43322_2023": {
"value": "\n Soci\u00e9t\u00e9 en Commandite \n \n par Actions \n ",
"dimensions": {
"concept": "ifrs-full:LegalFormOfEntity",
"language": "en",
"entity": "scheme:391200TZVOLI3RYBWS74",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"esef-43324_2023": {
"value": "\n 1\n 7\n , \n r\n ue de Flaxweiler, \n L\n -\n 6776 \u00a0\n \n Grevenmacher \n ",
"dimensions": {
"concept": "ifrs-full:AddressOfRegisteredOfficeOfEntity",
"language": "en",
"entity": "scheme:391200TZVOLI3RYBWS74",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"esef-42718_2023": {
"value": "\n \n On 18 January 2024 the shareholders decided \u00a0 at the Extraordinary General Meeting(\u201cEGM\u201d), \u00a0that the former exceet Group SCA will be \u00a0renamed into H2APEX Group SCA. With the re- \u00a0naming a common branding with APEX Group \u00a0is finalized. \u00a0\n
\n ",
"dimensions": {
"concept": "ifrs-full:ExplanationOfChangeInNameOfReportingEntityOrOtherMeansOfIdentificationFromEndOfPrecedingReportingPeriod",
"language": "en",
"entity": "scheme:391200TZVOLI3RYBWS74",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"esef-43323_2023": {
"value": "\n \n Luxembourg \n \n ",
"dimensions": {
"concept": "ifrs-full:CountryOfIncorporation",
"language": "en",
"entity": "scheme:391200TZVOLI3RYBWS74",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"esef-43321_2023": {
"value": "\n Luxembourg \n ",
"dimensions": {
"concept": "ifrs-full:DomicileOfEntity",
"language": "en",
"entity": "scheme:391200TZVOLI3RYBWS74",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"esef-43326_2023": {
"value": "\n \n The Group\u2019s purpose is the investing and devel- \u00a0 oping of projects for the decentralized supply \u00a0of green hydrogen. The Group develops and \u00a0operates green hydrogen production plants, \u00a0as well as offers solutions for adjacent areas \u00a0such as storage, district heating, and mobility. \u00a0The Group serves customers in \n Germany\n and \u00a0Luxembourg. \u00a0\n
\n ",
"dimensions": {
"concept": "ifrs-full:DescriptionOfNatureOfEntitysOperationsAndPrincipalActivities",
"language": "en",
"entity": "scheme:391200TZVOLI3RYBWS74",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"esef-43325_2023": {
"value": "\n Germany\n",
"dimensions": {
"concept": "ifrs-full:PrincipalPlaceOfBusiness",
"language": "en",
"entity": "scheme:391200TZVOLI3RYBWS74",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"esef-43433_2023": {
"value": "\n 2. BASIS\u00a0OF PREPARATION \u00a0\n
\n \n a STATEMENT \u00a0\n
\n \n OF COMPLIANCE \u00a0\n
\n \n The consolidated financial statements of \u00a0 H2APEX are based on the financial statements \u00a0of the individual group companies drawn up \u00a0according to uniform accounting principles \u00a0at 31 December 2023. They were drawn up in \u00a0accordance with the International Financial \u00a0Reporting Standards (IFRS) as endorsed by \u00a0the European Union (\u201cIFRS-EU\u201d) as well as the \u00a0interpretations issued by the IFRS Interpreta- \u00a0tions Committee (\u201cIFRIC\u201d) applicable\u00a0to the \u00a0companies reporting under IFRS and comply \u00a0with Luxembourg law. \u00a0\n
\n \n The consolidated financial statements have \u00a0 been prepared under the historical cost. \u00a0\n
\n \n \n The accounting principles applied to the con- \u00a0\n \n solidated financial statements at 31 December \u00a0\n \n 2023 have been amended to comply with all \u00a0\n \n new and revised IFRS standards and interpreta- \u00a0\n \n tions adopted by the European Union (EU) with \u00a0\n \n effective date in 2023. \u00a0 \n \n
\n \n The consolidated financial statements of the \u00a0 H2APEX as of 31 December 2023 were ap- \u00a0proved for issuance by the Supervisory Board \u00a0and the General Partner of H2APEX Group SCAon 25 April 2024. \u00a0\n
\n \n \n b GOING\u00a0CONCERN \u00a0\n
\n \n The General Partner has considered the Group\u2019s \u00a0 ability to continue as a going concern in the fore- \u00a0seeable future. The General Partner highlights \u00a0the \ufb01nancial stability of the Group as well as the \u00a0expected development of its business which \u00a0provides predictable cash \ufb02ows in a regulatory \u00a0environment. The General Partner adopted the \u00a0going concern basis in preparing these consoli- \u00a0dated \ufb01nancial statements. \u00a0\n
\n \n c\n
\n COMPARATIVE \u00a0\n
\n INFORMATION \u00a0\n
\n In accordance with IAS 1, for comparison \u00a0 purposes the information contained in these \u00a0notes to the consolidated financial statements \u00a0for 2023 is presented alongside similar infor- \u00a0mation for 2022. Based on reverse acquisition \u00a0accounting principles, the comparative infor- \u00a0mation and figures 2022 refer to APEX Group \u00a0consolidated financial statements as of 31 \u00a0December 2022. \u00a0\n
\n \n \n e\n
\n \n THE ACCOUNTING \u00a0\n
\n \n PRINCIPLES APPLIED \u00a0\n
\n \n TO THE CONSOLIDATED \u00a0\n
\n \n FINANCIAL STATEMENTS \u00a0\n
\n \n AT 31 DECEMBER 2023 \u00a0\n
\n \n HAVE BEEN AMENDED \u00a0\n
\n \n TO COMPLY WITH ALL \u00a0\n
\n \n NEW AND AMENDED \u00a0\n
\n \n IFRS STANDARDS AND \u00a0\n
\n \n INTERPRETATIONS \u00a0\n
\n \n ADOPTED BY THE EURO- \u00a0\n
\n \n PEAN UNION (EU) WITH \u00a0\n
\n \n EFFECTIVE DATE IN 2023 \u00a0\n
\n \n \n IFRS 17 INSURANCE CONTRACTS \u00a0\n
\n \n IFRS 17 Insurance Contracts is a comprehen- \u00a0 sive new accounting standard for insurance \u00a0contracts covering recognition and measure- \u00a0ment, presentation and disclosure. IFRS 17 \u00a0replaces IFRS 4 Insurance Contracts; IFRS\u00a017 \u00a0applies to all types of insurance contracts (i.e., \u00a0life, non-life, direct insurance and re-insurance),regardless of the type of entity that issues \u00a0them, as well as certain guarantees and finan- \u00a0cial instruments with discretionary participa- \u00a0tion features. A few scope exceptions will apply.The overall objective of IFRS 17 is to provide acomprehensive accounting model for insurancecontracts that is more useful and consistent \u00a0for insurers, covering all relevant accounting \u00a0aspects. IFRS 17 is based on a general model, \u00a0supplemented by: \u00a0\n
\n \n \u2022\n
\n \n A specific adaptation for contracts with \u00a0 direct participation features (the variable \u00a0fee approach) \u00a0\n
\n \n \u2022\n
\n \n A simplified approach (the premium \u00a0 allocation approach) mainly for short-dura-tion contracts \u00a0\n
\n \n The new standard had no impact on the \u00a0 Group\u2019s consolidated financial statements. \u00a0\n
\n \n DEFINITION OF ACCOUNTING ESTIMATES - \u00a0 AMENDMENTS TO IAS 8 \u00a0\n
\n \n The amendments to IAS 8 clarify the distinc- \u00a0 tion between changes in accounting estimates, \u00a0changes in accounting policies and the correc- \u00a0tion of errors. They also clarify how entities use \u00a0measurement techniques and inputs to develop \u00a0accounting estimates. \u00a0\n
\n \n The amendments had no impact on the Group\u2019s \u00a0 consolidated financial statements. \u00a0\n
\n \n DISCLOSURE OF ACCOUNTING POLICIES \u00a0 - AMENDMENTS TO IAS 1 AND IFRS PRAC- \u00a0TICE STATEMENT 2 \u00a0\n
\n \n The amendments to IAS 1 and IFRS Practice \u00a0 Statement 2 Making Materiality Judgements \u00a0provide guidance and examples to help entities \u00a0apply materiality judgements to accounting \u00a0policy disclosures. The amendments aim to \u00a0help entities provide accounting policy disclo- \u00a0sures that are more useful by replacing the \u00a0requirement for entities to disclose their \u2018signifi- \u00a0cant\u2019 accounting policies with a requirement to \u00a0disclose their \u2018material\u2019 accounting policies and \u00a0adding guidance on how entities apply the con- \u00a0cept of materiality in making decisions about \u00a0accounting policy disclosures. \u00a0\n
\n \n The amendments have had an impact on the \u00a0 Group\u2019s disclosures of accounting policies, but \u00a0not on the measurement, recognition or pres- \u00a0entation of any items in the Group\u2019s financial \u00a0statements. \u00a0\n
\n \n DEFERRED TAX RELATED TO ASSETS AND \u00a0 LIABILITIES ARISING FROM A SINGLE \u00a0TRANSACTION \u2013 AMENDMENTS TO IAS 12 \u00a0\n
\n \n The amendments to IAS 12 Income Tax narrow \u00a0 the scope of the initial recognition exception, \u00a0so that it no longer applies to transactions that \u00a0give rise to equal taxable and deductible tem- \u00a0porary differences such as leases and decom- \u00a0missioning liabilities. \u00a0\n
\n \n The amendments had no impact on the Group\u2019s \u00a0 consolidated financial statements. \u00a0\n
\n \n \n \n \n \n INTERNATIONAL TAX REFORM\u2014PILLAR \u00a0 TWO MODEL RULES \u2013 AMENDMENTS TO \u00a0IAS 12 \u00a0\n
\n \n The amendments to IAS 12 have been intro- \u00a0 duced in response to the OECD\u2019s BEPS Pillar \u00a0Two rules and include: \u00a0\n
\n \n \u2022\n
\n \n A mandatory temporary exception to the \u00a0 recognition and disclosure of deferred \u00a0taxes arising from the jurisdictional imple- \u00a0mentation of the Pillar Two model rules; \u00a0and \u00a0\n
\n \n \u2022\n
\n \n Disclosure requirements for affected \u00a0 entities to help users of the financial \u00a0statements better understand an entity\u2019s \u00a0exposure to Pillar Two income taxes arisingfrom that legislation, particularly before its \u00a0effective date. \u00a0\n
\n \n The mandatory temporary exception \u2013 the use \u00a0 of which is required to be disclosed \u2013 applies \u00a0immediately. The remaining disclosure re- \u00a0quirements apply for annual reporting periods \u00a0beginning on or after 1 January 2023, but not \u00a0for any interim periods ending on or before 31 \u00a0December 2023. \u00a0\n
\n \n The amendments had no impact on the Group\u2019s consolidated financial statements as the Group \u00a0is not in scope of the Pillar Two model rules as \u00a0its revenue is less that EUR 750 million/year. \u00a0\n
\n \n \n g FUNCTIONAL\u00a0AND \u00a0\n
\n PRESENTATION \u00a0\n
\n CURRENCY \u00a0\n
\n The \ufb01gures disclosed in these consolidated \u00a0 \ufb01nancial statements are expressed in Euro \u00a0(\u201cEUR\u201d), the Group\u2019s functional and presentation \u00a0currency, rounded off to the nearest thousand, \u00a0unless otherwise stated. \u00a0\n
\n The following FX rates are assumed: \u00a0\n
\n \n
\n \n \n \n \n \n \n \n \n \n | \n 31/12/2023 | \n Average 2023 | \n 31/12/2022 | \n Average 2022 | \n
\n \n | 1 CHF | \n 1.08 | \n 1.03 | \n 1.02 | \n 1.00 | \n
\n \n | 1 USD | \n 0.90 | \n 0.92 | \n 0.94 | \n 0.95 | \n
\n \n
\n
Items contained in the subsidiaries\u2019 financial \u00a0 statements are recognized in the currency of \u00a0the primary economic environment in which \u00a0the respective subsidiary operates (\u201cFunctional \u00a0Currency\u201d). Each entity within the Group \u00a0determines its own functional currency. In \u00a0principle, the functional currencies of the sub- \u00a0sidiaries included in the consolidated financial \u00a0statements are their respective local curren- \u00a0cies. Since exceet Group AG, Switzerland, sold \u00a0its last remaining subsidiary by end of 2021 \u00a0and remained without operating business the \u00a0subsidiary exceet Group AG decided to change \u00a0its functional currency from Swiss Franc to \u00a0Euro in 2022. \u00a0\n
\n Transactions in foreign currencies are \u00a0 translated at the exchange rate of the func- \u00a0tional currency prevailing on the date of the \u00a0transaction. All resulting foreign exchange \u00a0differences are recognized in the consolidated \u00a0income statement. \u00a0\n
\n Monetary items denominated in foreign \u00a0 currencies are translated into the functional \u00a0currency at the exchange rate prevailing at the \u00a0balance sheet date. Exchange rate differences \u00a0are recorded in the consolidated income \u00a0statement. Non-monetary assets and liabilities \u00a0are translated at the historical rate. \u00a0\n
\n \n \n 2.2 MATERIAL \u00a0\n
\n \n ACCOUNTING POLICIES \u00a0\n
\n \n \n \n a SCOPE\u00a0OF \u00a0\n
\n \n CONSOLIDATION \u00a0\n
\n \n \n \n Investments in subsidiaries are fully consoli- \u00a0 dated. These are entities over which H2APEX di- \u00a0rectly or indirectly exercises control.\u00a0The Group \u00a0controls an entity when the Group is exposed \u00a0to, or has rights to receive, variable returns as a \u00a0result of its involvement in it and has the ability \u00a0to in\ufb02uence such return through the power it \u00a0exercises over the entity. \u00a0\n
\n \n Group companies acquired during the year are \u00a0 included in the consolidation from the date on \u00a0which control over the acquired entity is trans- \u00a0ferred to the Group, and are excluded from the \u00a0consolidation as of the date the Group ceases tohave control over the entity. For the consolidatedentities, 100% of assets, liabilities, income and \u00a0expenses are included. Intercompany balances \u00a0and transactions are eliminated in full. \u00a0\n
\n \n \n \n \n When a Group company loses control of a Group company, their assets and liabilities and any \u00a0minority interest that may be held are derecog- \u00a0nized. The resulting gains or losses are recog- \u00a0nized in the consolidated statement of compre- \u00a0hensive income. Shareholdings in subsidiaries \u00a0for which control is no longer held are measuredat fair value on the date on which control was \u00a0lost. Gains or losses on purchases of minority \u00a0interests in companies in which a controlling \u00a0interest is held, as well as sales of shareholdingswithout loss of control, are charged or credited \u00a0to reserves. \u00a0\n
\n \n \n The subsidiaries\u2019 accounting policies have \u00a0 been adapted to Group accounting policies for \u00a0transactions and other events in similar circum- \u00a0stances. \u00a0\n
\n \n \n \n \n \n b BUSINESS \u00a0\n
\n \n COMBINATIONS \u00a0\n
\n \n \n \n \n \n The Group accounts for business combinations \u00a0 under the acquisition method when the acquired \u00a0set of activities and assets meets the de\ufb01nition \u00a0of a business and control is transferred to the \u00a0Group. \u00a0\n
\n \n \n \n The cost of an acquisition is measured as the \u00a0 aggregate of the consideration transferred, \u00a0including contingent consideration, measured at \u00a0acquisition date fair value and the amount of any \u00a0non-controlling interest in the acquiree. Acquisi- \u00a0tion costs incurred are expensed and included \u00a0in other operating expense in the consolidated \u00a0income statement. \u00a0\n
\n \n \n \n When the Group acquires a business, it assess- \u00a0 es the \ufb01nancial assets and liabilities assumed \u00a0for appropriate classi\ufb01cation and designation in \u00a0accordance with the contractual terms, econom- \u00a0ic circumstances and pertinent conditions as at \u00a0the acquisition date. If the initial accounting for a \u00a0business combination is incomplete by the end \u00a0of the reporting period in which the combination \u00a0occurs, the Group reports in its consolidated \u00a0\ufb01nancial statements provisional amounts for the \u00a0items for which the accounting is incomplete. \u00a0\n
\n \n \n \n \n \n \n \n The Group recognizes the assets acquired, the \u00a0 liabilities assumed and any non-controlling \u00a0interest at their acquisition-date fair value. The \u00a0excess, if any, between the business combina- \u00a0tion cost, plus the value given to non-controlling \u00a0interests, and the value of net assets acquired \u00a0and liabilities assumed, is recognized as good- \u00a0will. \u00a0\n
\n \n \n \n \n \n Goodwill is carried at cost less accumulated \u00a0 impairment losses, if any. The Group tests good- \u00a0will for impairment at least annually and when- \u00a0ever there are indications that goodwill may be \u00a0impaired. Goodwill is allocated to the cash-gen- \u00a0erating units. Such units represent the smallest \u00a0groups of assets that generate cash in\ufb02ows \u00a0from continuing use that are largely independent \u00a0of the cash \ufb02ows of other assets or CGUs. \u00a0\n
\n \n \n \n \n In a reverse acquisition, the company issuing \u00a0 securities (the legal acquirer) is identi\ufb01ed as the \u00a0acquired company for accounting purposes. Theentity whose equity shares were acquired (the \u00a0legally acquired entity) must be the acquirer for \u00a0accounting purposes in order for this transac- \u00a0tion to be considered a reverse acquisition. \u00a0\n
\n \n In a reverse business acquisition, the balance \u00a0 sheet acquirer generally does not spend any \u00a0consideration for the acquired company. In- \u00a0stead, the company acquired on the balance \u00a0sheet usually issues its equity shares to the \u00a0owners of the balance sheet acquirer. \u00a0\n
\n \n The consolidated \ufb01nancial statements show a \u00a0 continuation of the \ufb01nancial statements of the \u00a0legal subsidiary with the exception of the capitalstructure. Consolidated \ufb01nancial statements \u00a0prepared after a reverse company acquisition \u00a0re\ufb02ect the equity of the legal parent company \u00a0(the company acquired on the balance sheet). \u00a0Comparative information presented in these \u00a0consolidated \ufb01nancial statements is also ad- \u00a0justed retrospectively to re\ufb02ect the legal equity \u00a0of the legal parent (acquired entity). \u00a0\n
\n \n In addition, it applies that: \u00a0\n
\n \n \u2022\n
\n \n the assets and liabilities of the legal sub- \u00a0 sidiary (the balance sheet acquirer) were \u00a0recognized and valued at their book values \u00a0valid before the merger; \u00a0\n
\n \n \u2022\n
\n \n the assets and liabilities of the legal par- \u00a0 ent company (the acquired company) have \u00a0been recognized and measured in accord- \u00a0ance with this IFRS. \u00a0\n
\n \n \n \n \n \n c\n
\n \n FAIR VALUE \u00a0\n
\n \n MEASUREMENT \u00a0\n
\n \n The Group measures \ufb01nancial instruments at \u00a0 fair value at each balance sheet date. Fair value \u00a0is the price that would be received to sell an \u00a0asset or paid to transfer a liability in an orderly \u00a0transaction between market participants at the \u00a0measurement date. The fair value measurement \u00a0is based on the presumption that the transac- \u00a0tion to sell the asset or transfer the liability takes \u00a0place either: \u00a0\n
\n \n \u2022\n
\n \n In the principal market for the asset \u00a0 or liability \u00a0\n
\n \n Or \u00a0\n
\n \n \u2022\n
\n \n In the absence of a principal market, in the \u00a0 most advantageous market for the asset or \u00a0liability \u00a0\n
\n \n The principal or the most advantageous market \u00a0 must be accessible by the Group. \u00a0\n
\n The fair value of an asset or a liability is meas- \u00a0ured using the assumptions that market par- \u00a0ticipants would use when pricing the asset or \u00a0liability, assuming that market participants act in \u00a0their economic best interest. \u00a0\n
\n \n A fair value measurement of a non-\ufb01nancial \u00a0 asset takes into account a market participant\u2019s \u00a0ability to generate economic bene\ufb01ts by using \u00a0the asset in its highest and best use or by selling \u00a0\n
\n \n \n \n \n \n it to another market participant that would use \u00a0 the asset in its highest and best use. \u00a0\n
\n \n The Group uses valuation techniques that are \u00a0 appropriate in the circumstances and for which \u00a0suf\ufb01cient data are available to measure fair \u00a0value, maximising the use of relevant observableinputs and minimising the use of unobservable \u00a0inputs. \u00a0\n
\n \n All assets and liabilities for which fair value \u00a0 is measured or disclosed in the consolidated \u00a0\ufb01nancial statements are categorised within the \u00a0fair value hierarchy, described as follows, based \u00a0on the lowest level input that is signi\ufb01cant to the \u00a0fair value measurement as a whole: \u00a0\n
\n \n \u2022\n
\n \n Level 1 \u2014 Quoted (unadjusted) market \u00a0 prices in active markets for identical assets \u00a0or liabilities \u00a0\n
\n \n \u2022\n
\n \n Level 2 \u2014 Valuation techniques for which \u00a0 the lowest level input that is signi\ufb01cant to \u00a0the fair value measurement is directly or \u00a0indirectly observable \u00a0\n
\n \n \u2022\n
\n \n Level 3 \u2014 Valuation techniques for which \u00a0 the lowest level input that is signi\ufb01cant to \u00a0the fair value measurement is unobservable\n
\n \n For assets and liabilities that are recognised \u00a0 in the consolidated \ufb01nancial statements at fair \u00a0value on a recurring basis, the Group determineswhether transfers have occurred between levels \u00a0in the hierarchy by re-assessing\u00a0categorisation \u00a0at the end of each reporting period. \u00a0\n
\n \n \n \n d INTANGIBLE \u00a0\n
\n \n ASSETS \u00a0\n
\n \n INITIAL RECOGNITION \u00a0\n
\n \n Intangible assets acquired separately are meas- \u00a0 ured on initial recognition at cost or deemed \u00a0cost. Expenses for research activities are recog- \u00a0nized through the consolidated income state- \u00a0ment in the period in which they are incurred. \u00a0Development expenditures on the individual \u00a0project are recognized as intangible assets from \u00a0the date the group can demonstrate: \u00a0\n
\n \n \n \u2022\n
\n \n the product or process is technically\u00a0and \u00a0 commercially feasible so that the asset will \u00a0be available for use or sale \u00a0\n
\n \n \u2022\n
\n \n the Group has the ability and intention to \u00a0 use or sell the asset. \u00a0\n
\n \n \u2022\n
\n \n a future economic bene\ufb01t is probable. \u00a0\n
\n \n \u2022\n
\n \n the Group has suf\ufb01cient resources to com- \u00a0 plete the development and \u00a0\n
\n \n \u2022\n
\n \n the development costs can be measured \u00a0 reliably. \u00a0\n
\n The costs capitalized include the cost of materi- \u00a0 als, direct labour and other directly attributable \u00a0expenditure that serves to prepare the asset for \u00a0use. Such capitalized costs are included in line \u00a0item other intangible assets as internally gener- \u00a0ated intangible assets. \u00a0\n
\n \n Other development costs are expensed as \u00a0 incurred. \u00a0\n
\n \n SUBSEQUENT MEASUREMENTS \u00a0\n
\n \n \n \n After initial recognition, intangible assets are \u00a0 carried at cost less any accumulated amortiza- \u00a0tion and any impairment loss. \u00a0\n
\n \n \n \n AMORTIZATION \u00a0\n
\n The useful lives of intangible assets are as- \u00a0 sessed by the General Partner of the Group as \u00a0either finite or indefinite. \u00a0\n
\n \n \n Intangible assets with finite lives are amortized \u00a0 over the expected useful economic life and \u00a0assessed for impairment whenever there is an \u00a0indication that the other intangible asset may \u00a0be impaired or at least annually. When there are \u00a0no foreseeable limits to the period over the as- \u00a0sets for generating net cash inflows, the assets \u00a0are recognized assets with indefinite use life. \u00a0Those assets are not amortized but tested for \u00a0impairment loss at least annually. \u00a0\n
\n \n \n The estimated useful life for current and com- \u00a0 parative year as following: \u00a0\n
\n \n
\n \n \n \n \n \n \n \n | \n Patents, licenses, trademarks and similar rights | \n Computer software | \n
\n \n | Useful lifes | \n Finite | \n Finite | \n
\n \n | Amortisation method used | \n Amortised on a straight-line | \n Amortised on a straight-line | \n
\n \n | \n basis over the period of use | \n basis over the period of use | \n
\n \n | Internally generated or acquired | \n Acquired | \n Acquired | \n
\n \n | Amortisation period | \n 8-10 years | \n 8-10 years | \n
\n \n
\n
Intangible assets under development are \u00a0 reported at cost and are allocated to intangible \u00a0assets when they are completed and put into \u00a0operational use, from which point onwards they \u00a0are depreciated. \u00a0\n
\n The Group reviews the residual value, useful life \u00a0 and amortization method of intangible assets \u00a0at each financial year end. Changes to initially \u00a0established criteria are accounted for as a \u00a0change in accounting estimates. \u00a0\n
\n \n e\n
\n PROPERTY, PLANT \u00a0\n
\n AND EQUIPMENT \u00a0\n
\n INITIAL RECOGNITION \u00a0\n
\n Property, plant and equipment are recognized \u00a0 at cost or deemed cost. Production costs and \u00a0interests which related to the financing of \u00a0acquisitions of tangible assets are capitalized \u00a0in the consolidated financial statements. \u00a0\n
\n SUBSEQUENT MEASUREMENT \u00a0\n
\n \n \n After initial recognition of property, plant and \u00a0 equipment are carried at cost less accumulated \u00a0depreciation and any accumulated impairment \u00a0losses, only the costs incurred which increase \u00a0capacity or productivity or which lengthen the \u00a0useful life of the asset are capitalized. The \u00a0carrying amount of parts that are replaced is \u00a0derecognized. Costs of day-to-day servicing \u00a0are recognized in consolidated statement of \u00a0comprehensive income as incurred. \u00a0\n
\n \n \n \n DEPRECIATION \u00a0\n
\n Property, plant and equipment are depreciated \u00a0 by allocating the depreciable amount of the \u00a0asset on a systematic basis over its useful life. \u00a0The depreciable amount is the cost of an asset \u00a0less its residual value. \u00a0\n
\n The following useful lifes are assumed: \u00a0\n
\n \n
\n \n \n \n \n \n \n \n | \n Depreciation Method | \n Estimated years of useful life | \n
\n \n | Buildings | \n Straight-line | \n 25 -40 | \n
\n \n | Technical installations and machinery | \n Straight-line | \n 5 - 20 | \n
\n \n | Other installations, equipment and furniture | \n Straight-line | \n 4 - 12 | \n
\n \n
\n
Assets under construction are reported at cost \u00a0 and are allocated to tangible assets when they \u00a0are completed and put into operational use, from \u00a0which point onwards they are depreciated. \u00a0\n
\n The Group reviews residual values, useful lifes and \u00a0 depreciation methods on a regularly basis or by \u00a0triggering events. Changes to initially established \u00a0criteria are accounted for as a change in account- \u00a0ing estimates. \u00a0\n
\n \n \n \n f\n
\n \n LEASES \u00a0\n
\n \n The Group leases various offices, equipment \u00a0 and cars. Rental contracts are typically agreed \u00a0for fixed periods of 5 years, but may have \u00a0extension options. Lease terms are negotiated \u00a0on an individual basis and contain a wide range \u00a0of different terms and conditions. The lease \u00a0agreements do not impose any covenants, but \u00a0leased property assets may not be used as \u00a0security for borrowing purposes. \u00a0\n
\n \n Leases are recognized as a right-of-use as- \u00a0 set and a corresponding liability at the date at \u00a0which the leases asset is available for use by \u00a0the Group. The finance cost is charged to con- \u00a0solidated statement of comprehensive income \u00a0over the lease period so as to produce a con- \u00a0stant periodic rate of interest on the remaining \u00a0balance of the liability for each period. \u00a0\n
\n \n Assets and liabilities arising from a lease are \u00a0 initially measured on a present value basis. \u00a0Lease liabilities include the net present value ofthe following lease payments: \u00a0\n
\n \n \u2022\n
\n \n \ufb01xed payments (including in-substance \u00a0 \ufb01xed payments), less any lease incentives \u00a0receivable \u00a0\n
\n \n \u2022\n
\n \n variable lease payment that are based on an \u00a0 index or a rate, initially measured using the \u00a0index or rate as at the commencement date \u00a0\n
\n \n Lease payments to be made under reasonably \u00a0 certain extension options are also included in \u00a0the measurement of the liability. \u00a0\n
\n \n The lease payments are discounted using the \u00a0 interest rate implicit in the lease. If that rate \u00a0cannot be determined, the lessee\u2019s incrementalborrowing rate is used, being the rate that the \u00a0lessee would have to pay to borrow the funds \u00a0\n
\n \n necessary to obtain an asset of similar value \u00a0 in a similar economic environment with similar \u00a0terms and conditions. \u00a0\n
\n \n To determine the incremental borrowing rate, \u00a0 the Group: \u00a0\n
\n \n \u2022\n
\n \n where possible, uses recent third-party \u00a0 \ufb01nancing received by the individual lessee as \u00a0a starting point, adjusted to re\ufb02ect changes \u00a0in \ufb01nancing conditions since third party \u00a0\ufb01nancing was received \u00a0\n
\n \n \u2022\n
\n \n makes adjustments speci\ufb01c to the lease, e.g. \u00a0 term, country, currency and security. \u00a0\n
\n \n The Group is exposed to potential future increases \u00a0 in variable lease payments based on an index or \u00a0rate, which are not included in the lease liability \u00a0until they take effect. When adjustments to lease \u00a0payments based on an index or rate take effect, \u00a0the leases liability is reassessed and adjusted \u00a0against the right-of-use asset. \u00a0\n
\n Lease payments are allocated between liability \u00a0 and \ufb01nance cost. The \ufb01nance cost is charged to \u00a0pro\ufb01t or loss over the lease period. \u00a0\n
\n \n Right-of-use assets are measured at cost compris- \u00a0 ing the following: \u00a0\n
\n \n \u2022\n
\n \n the amount of the initial measurement of \u00a0 lease liability \u00a0\n
\n \n \u2022\n
\n \n any lease payments made at or before the \u00a0 commencement date less any lease incen- \u00a0tives received \u00a0\n
\n \n \u2022\n
\n \n any initial direct costs, and \u00a0\n
\n \n \u2022\n
\n \n restoration costs. \u00a0\n
\n \n \n Right-of-use assets are depreciated on a straight- \u00a0 line basis over the shorter of the lease term and \u00a0the estimated useful lives of the assets, as follows: \u00a0\n
\n \n \u2022\n
\n \n Motor vehicles and other equipment \u00a0 3 to 4 years \u00a0\n
\n \n \u2022\n
\n \n Of\ufb01ce Space 2 to 5\u00a0years \u00a0\n
\n \n \n \n \n \n Right-of-use assets are generally depreciated \u00a0\n \n over the shorter of the asset\u2019s useful life and the \u00a0\n \n lease term on a straight-line basis. If the Group is \u00a0\n \n reasonably certain to exercise a purchase option, \u00a0\n \n the right-of-use asset is depreciated over the \u00a0\n \n underlying asset\u2019s useful life. \u00a0 \n \n
\n \n \n Payments associated with short-term leases \u00a0\n \n (lease term of 12 month or less) and leases of \u00a0\n \n low-value assets (below EUR 5,000) are recog- \u00a0\n \n nized on a straight-line basis as an expense in \u00a0\n \n pro\ufb01t or loss. \u00a0 \n \n
\n \n \n The depreciable amount of a leased asset is allo- cated to each accounting period during the periodof expected use on a systematic basis consistentwith the depreciation policy for owned assets. If \u00a0there is reasonable certainty that the Group will \u00a0obtain ownership by the end of the lease term, \u00a0the period of expected use is the useful life of theasset. \u00a0\n
\n \n \n \n \n g IMPAIRMENT\u00a0OF \u00a0\n
\n \n NON-FINANCIAL ASSETS \u00a0\n
\n \n The Group evaluates whether there are in- \u00a0 dications of possible impairment losses on \u00a0non-financial assets subject to amortization \u00a0or depreciation to verify whether the carrying \u00a0amount of these assets exceeds the recover- \u00a0able amount. \u00a0\n
\n \n The Group tests intangible assets not yet avail- \u00a0 able for use for impairment at least annually, \u00a0irrespective of whether there is any indication \u00a0that the assets may be impaired. \u00a0\n
\n \n The recoverable amount of assets is the higher of fair value less costs of retirement or disposaland value in use. \u00a0\n
\n \n Negative differences arising from compari- \u00a0 son of carrying amounts of assets with their \u00a0recoverable amounts are expensed, except in \u00a0those cases in which the non-current asset is \u00a0recorded at the revalued amount. \u00a0\n
\n \n Recoverable amount is determined for each \u00a0 individual asset, unless the asset does not gen- \u00a0erate cash inflows that are largely independent \u00a0of those from other assets or groups of assets. \u00a0If this is the case, recoverable amount is deter- \u00a0mined for the cash-generating unit (\u201cCGU\u201d) to \u00a0which the asset belongs. \u00a0\n
\n \n At the end of each reporting period the Group \u00a0 assesses whether there is any indication that an \u00a0impairment loss recognized in prior periods\u00a0may \u00a0no longer exist or may have decreased. Impair- \u00a0ments losses on goodwill may not be reversed. \u00a0Impairment losses on assets other than good- \u00a0will are reversed if, and only if, there has been \u00a0a change in the estimates used to calculate the \u00a0asset\u2019s recoverable amount. \u00a0\n
\n A reversal of an impairment loss is recognized \u00a0 in the consolidated statement of comprehensive \u00a0income except when the non-current assets is \u00a0recorded at its restated amount. The increase of \u00a0the carrying amount of an asset attributable to a \u00a0reversal of an impairment loss may not exceed \u00a0the carrying amount that would have been deter- \u00a0mined, net of depreciation or amortization, had \u00a0no impairment loss been recognized. \u00a0\n
\n \n \n \n \n \n \n h\n
\n \n FINANCIAL \u00a0\n
\n \n INSTRUMENTS \u00a0\n
\n \n A financial instrument is any contract that gives \u00a0 rise to a financial asset of one entity\u00a0and a \u00a0financial liability or equity instrument of another \u00a0entity. Financial instruments in the form of fi- \u00a0nancial assets and financial liabilities are gener- \u00a0ally presented separately. Financial instruments \u00a0are recognized as soon as the Group becomes \u00a0a party to the contractual provisions of the \u00a0financial instrument. In the case of purchases \u00a0or sales of financial assets through the regular \u00a0market, H2APEX uses the transaction date as \u00a0the date of initial recognition or derecognition. \u00a0Upon initial recognition, financial instruments \u00a0are measured at fair value. \u00a0\n
\n \n \n \n \n \n \n FINANCIAL ASSETS \u00a0\n
\n \n Classi\ufb01cation and measurement \u00a0\n
\n \n The Group classifies and measures its \u00a0 financial assets, both current and non-current,as follows: \u00a0\n
\n \n Assets at amortized cost \u00a0\n
\n \n This category includes the financial assets that meet the following conditions: \u00a0\n
\n \n \u2022\n
\n \n The asset is held within the framework \u00a0 of a business model whose purpose is to \u00a0hold \ufb01nancial assets in order to obtain \u00a0contractual cash \ufb02ows, and \u00a0\n
\n \n \u2022\n
\n \n The contractual conditions of the \ufb01nancial asset give rise, on speci\ufb01ed dates, to cash\ufb02ows constituting solely payments of \u00a0principal plus interest on the outstanding \u00a0principle. \u00a0\n
\n \n \n These assets are initially measured at fair \u00a0 value, plus any transaction costs, and then sub- \u00a0sequently at amortized cost. The interest ac- \u00a0crued is taken to the consolidated statement of \u00a0comprehensive income applying the effectiveinterest method. Nonetheless, financial assetsfalling due one year or less without a contrac-tual interest rate are initially and subsequentlymeasured at their nominal amount, if the effectof upgrading the cash flows is insignificant. \u00a0\n
\n \n \n \n \n Impairment of \ufb01nancial assets at \u00a0 amortized cost \u00a0\n
\n \n The Group recognizes value adjustments relat- ing to expected credit losses on financial as-sets measured at amortized cost and contractassets. \u00a0\n
\n \n The Group applies the simplified approach of \u00a0 calculating the expected credit loss of its finan- \u00a0cial assets. \u00a0\n
\n \n The simplified approach considers expected \u00a0 credit losses for lifetime plus any additional \u00a0 provisioning if additional indicators for \u00a0 credit losses were indicated. The \u00a0 Group assumes that the credit risk of a financial \u00a0instrument has not increased significantly since \u00a0its initial recognition if the financial instrument \u00a0has a low credit risk at the closing date. \u00a0\n
\n \n \n \n (i) De\ufb01nition of default \u00a0\n
\n \n The group considers the following as constitut- \u00a0 ing an event of default for internal credit risk \u00a0management purposes as historical experience \u00a0indicates that financial assets that meet either \u00a0of the following criteria are generally not \u00a0recoverable: \u00a0\n
\n \n \u2022\n
\n \n When there is a breach of financial cov- \u00a0 enants by the debtor \u00a0\n
\n \n \u2022\n
\n \n Information developed internally or obtained \u00a0 from external sources indicates that the \u00a0debtor is unlikely to pay its creditors, includ- \u00a0ing the group, in full (without taking into \u00a0account any collateral held by the group). \u00a0\n
\n Irrespective of the above analysis, the group \u00a0 considers that default has occurred when a \u00a0financial asset is more than 180 days past due \u00a0unless the group has reasonable and support- \u00a0able information to demonstrate that a more \u00a0lagging default criterion is more appropriate. \u00a0\n
\n \n \n \n (ii) Credit-impaired \ufb01nancial assets \u00a0\n
\n \n A financial asset is credit-impaired when one\u00a0or \u00a0more events that have a detrimental impact on \u00a0the estimated future cash flows of that financial \u00a0asset have occurred. Evidence that a financial \u00a0asset is credit-impaired includes observable \u00a0data about the following events: \u00a0\n
\n \n \u2022\n
\n \n Significant financial difficulty of the issuer \u00a0 or the borrower \u00a0\n
\n \n \u2022\n
\n \n A breach of contract, such as a default or \u00a0 past due event (see (i) above) \u00a0\n
\n \n \n \n \u2022 \n \n \n \n \n \n The lender(s) of the borrower, for economic or contractual reasons relating to the bor- \u00a0rower\u2019s financial difficulty, having granted \u00a0to the borrower a concession(s) that the \u00a0lender(s) would not otherwise consider \u00a0\n
\n \n \n \n \n \n \n \n \u2022\n
\n \n \n \n \n \n \n \n It is becoming probable that the borrower \u00a0 will enter bankruptcy or other financial \u00a0reorganisation \u00a0\n
\n \n \n \n \n \n \n \n \u2022\n
\n \n \n \n \n \n \n \n The disappearance of an active market for \u00a0 that financial asset because of financial \u00a0difficulties \u00a0\n
\n \n \n \n \n \n \n \n (iii) Write-off policy \u00a0\n
\n \n \n \n The group writes off a financial asset when \u00a0 there is information indicating that the debtor \u00a0is in severe financial difficulty and there is no \u00a0realistic prospect of recovery, e.g. when the \u00a0debtor has been placed under liquidation or hasentered into bankruptcy proceedings, or in the \u00a0case of trade receivables, when the amounts \u00a0are over two years past due, whichever oc- \u00a0curs sooner. Financial assets written off may \u00a0still be subject to enforcement activities underthe group\u2019s recovery procedures, taking into \u00a0account legal advice where appropriate. Any re- \u00a0coveries made are recognised in profit or loss.\n
\n \n \n \n Impairment losses and reversals of impair- \u00a0 ment losses on trade receivables and contractassets are recognized in depreciation, amortisa- \u00a0tion and impairment expenses in the consoli-dated statement of comprehensive income.Impairment losses and reversals of impairmentlosses on other financial assets at amortized \u00a0cost are recognized in depreciation, amortisation \u00a0and impairment expenses the consolidated \u00a0statement of comprehensive income. \u00a0\n
\n \n \n \n \n \n \n SUBSEQUENT MEASUREMENT \u00a0\n
\n \n \n \n Derecognition of \ufb01nancial assets \u00a0\n
\n \n \n Financial assets are derecognized when the \u00a0contractual rights to the cash \ufb02ows from the \u00a0\ufb01nancial asset expire or have been transferred \u00a0and substantially all the risks and rewards of \u00a0ownership are considered to have been \u00a0transferred. \u00a0\n
\n \n \n On derecognition of a \ufb01nancial asset, the differ- \u00a0 ence between the carrying amount and the \u00a0sum of the consideration received, net of \u00a0transaction costs, including any new asset ob- \u00a0tained less any new liability assumed and \u00a0any cumulative gain or loss deferred in other \u00a0comprehensive income, is recognized in consoli- \u00a0dated statement of comprehensive income. \u00a0\n
\n \n \n \n \n FINANCIAL LIABILITIES \u00a0\n
\n \n \n Classi\ufb01cation and measurement of \ufb01nancial li- \u00a0 abilities \u00a0\n
\n \n Financial liabilities are classi\ufb01ed at initial recog- \u00a0 nition and initially measured at fair value, plus \u00a0or minus any transaction costs, and then sub- \u00a0sequently at amortized cost using the effective \u00a0interest rate method. \u00a0\n
\n \n \n \n \n Financial liabilities are classi\ufb01ed, at initial recogni- \u00a0tion, as \ufb01nancial liabilities at fair value through \u00a0pro\ufb01t or loss, loans and borrowings, payables\u00a0as \u00a0appropriate. The Group determines the classi\ufb01ca- \u00a0tion of its \ufb01nancial liabilities at initial recognition. \u00a0\n
\n \n \n \n \n \n \n Subsequent measurement \u00a0\n
\n \n Loans and borrowings \u00a0\n
\n \n After initial recognition, interest-bearing loans \u00a0and borrowings are subsequently measured \u00a0at amortised cost using effective interest rate \u00a0method. Gains and losses are recognised in pro\ufb01t \u00a0or loss when the liabilities are derecognised aswell as through the EIR amortisation process. \u00a0\n
\n \n \n \n \n Derecognition of \ufb01nancial liabilities \u00a0\n
\n Financial liabilities are derecognized where they \u00a0are extinguished, i.e., when the obligation deriv- \u00a0ing from the liability has been discharged or \u00a0cancelled, or it has expired. When there is an \u00a0exchange of debt instruments between the Group \u00a0and the counterparty, provided that they have \u00a0substantially different conditions, the original \u00a0\ufb01nancial liability is eliminated, and the new\u00a0\ufb01nan- \u00a0cial liability is recognized. Similarly, any substan- \u00a0tial modi\ufb01cation to the current conditions affect- \u00a0ing a \ufb01nancial liability is recognized. \u00a0\n
\n \n \n \n \n \n i\n
\n \n CONTRACT BALANCES \u00a0\n
\n \n CONTRACT ASSETS \u00a0\n
\n \n A contract asset is initially recognised for rev- \u00a0 enue earned from customer projects because \u00a0the receipt of\u00a0consideration is conditional on \u00a0successful completion of the project. Upon \u00a0completion of the project and acceptance by \u00a0the customer, the amount recognised as con- \u00a0tract assets is reclassified to trade receivables. \u00a0\n
\n \n CONTRACT LIABILITIES \u00a0\n
\n \n Contract liabilities are recognized in relation to prepayments of customers where the delivery \u00a0of the related service will happen over time. \u00a0\n
\n \n \n \n j\n
\n \n GOVERNMENT GRANTS \u00a0\n
\n \n Government grants are recognized at fair value if there is reasonable assurance that the grantwill be received, and group will comply with \u00a0all attached conditions. Government grants \u00a0include short allowance for the employee and \u00a0non-repayable subsidy granted by the govern- \u00a0ment whose purpose is to finance intangible \u00a0assets. \u00a0\n
\n \n Grants awarded for the purchase or the produc- tion of fixed assets (grants related to assets) \u00a0are generally offset against the acquisition or \u00a0production costs of the respective assets and \u00a0reduce future depreciations accordingly. Grants \u00a0awarded for other than non-current assets \u00a0(grants related to income) are reported in the \u00a0consolidated statements of comprehensive \u00a0income under the same functional area as the \u00a0corresponding expenses. They are recognized \u00a0as income over the periods necessary to match \u00a0them on a systematic basis to the costs that \u00a0are intended to be compensated. Government \u00a0grants for future expenses are recorded as \u00a0deferred income. \u00a0\n
\n \n In the financial year government grants are \u00a0 recognized in other income KEUR 484 \u00a0(2022: KEUR 238) using the income approach. \u00a0\n
\n \n \n \n k\n
\n \n EMPLOYEE BENEFITS \u00a0\n
\n \n DEFINED CONTRIBUTION PLANS \u00a0\n
\n \n The Group recognizes the contributions payable \u00a0 to a defined contribution plan in exchange for a \u00a0service when an employee has rendered service \u00a0to the Company. The amount of the contribu- \u00a0tions accrued is recognized as an employee \u00a0benefits expense. \u00a0\n
\n \n SHORT-TERM EMPLOYEE BENEFITS \u00a0\n
\n \n Short-term employee benefits are different from \u00a0 termination benefits that are expected to be set- \u00a0tled in full before 12 months after the end of the \u00a0reporting period in which the employees render \u00a0the related services. \u00a0\n
\n \n The Group recognizes the expected cost of \u00a0 profit-sharing and bonus plans when it has a \u00a0present legal or constructive obligation to make \u00a0such payments as a result of past events and a \u00a0reliable estimate of the obligation can be made. \u00a0\n
\n \n \n REDUNDANCY INDEMNITIES \u00a0\n
\n Pursuant to current employment law, in certain \u00a0 circumstances the Group is liable to pay redun- \u00a0dancy indemnities to employees whose services \u00a0are discontinued. \u00a0\n
\n \n \n \n l\n
\n \n SHARE-BASED \u00a0\n
\n \n PAYMENTS \u00a0\n
\n \n Under the Stock Option Program (\u201cSOP\u201d) \u00a0 2023, stock options are granted in 2023 to \u00a0the following groups of participants: \u00a0\n
\n \n i. \u00a0\n
\n \n member of the supervisory board of the \u00a0 Company; \u00a0\n
\n \n ii. \n
\n \n members\u00a0of the management of affiliated companies; and \u00a0\n
\n \n iii. key\u00a0employees of affiliated companies \u00a0\n
\n \n Stock options granted to a participant will vest in instalments over a four-year vesting periodas follows: The stock options shall vest by 1/16for each full quarter of a year following thegrant date subject to the condition that a periodof twelve (12) months following the grant date \u00a0(the \u201ccliff period\u201d) has expired (each date on \u00a0which stock options vest, a \u201cvesting date\u201d). TheCompany granted 1,740,000 stock options in \u00a02023 under these terms and conditions. \u00a0\n
\n \n Any time period in which the participant does \u00a0 not work for H2APEX Group and H2APEX \u00a0Group does not owe the whole compensation \u00a0agreed under the employment or service agree-ment to the participant, as applicable (e.g., inthe case of extended periods of illness, uncom-pensated release from duty to work, parental \u00a0leave, excluding for the avoidance of doubt, ma- \u00a0ternity leave) shall suspend the vesting of stock \u00a0options for that time period and the four-year \u00a0vesting period will be extended accordingly. \u00a0\n
\n \n Additionally, the Company granted 660,000 \u00a0 stock options to the Chairman of the Supervi- \u00a0sory Board, which have been vested immedi- \u00a0ately at grant date. These stock options have to \u00a0be exercised until 31 December 2027. \u00a0\n
\n \n The exercise price for each of the granted stock \u00a0 options shall be EUR 5.50. \u00a0\n
\n \n The fair value of the stock options is estimated \u00a0 at the grant date using the binomial option pric- \u00a0ing model, taking into account the terms and \u00a0conditions on which the stock options were \u00a0granted. The stock options can be exercised \u00a0after the vesting period. There are no cash\u00a0set- \u00a0tlement alternatives. The Group does not have a \u00a0past practice of cash settlement for these\u00a0stock \u00a0options. \u00a0\n
\n \n The Group accounts for the stock options as an \u00a0 equity-settled plan. The grant date fair value of \u00a0equity-settled share-based payment arrange- \u00a0ments granted to employees is recognized as an \u00a0expense with a corresponding increase in equity, \u00a0over the vesting period of the awards. The \u00a0amount recognized as an expense is adjusted \u00a0to reflect the number of awards for which the \u00a0related service and non-market performance \u00a0conditions are expected to be met, such that the \u00a0amount ultimately recognized is based on the \u00a0number of awards that meet the related service \u00a0and non-market performance conditions at the \u00a0vesting date. For share-based payment awards \u00a0with non-vesting conditions, the grant-date fair \u00a0value of the share-based payment is measured \u00a0to reflect such conditions and there is no true- \u00a0up for differences between expected and actual \u00a0outcomes. \u00a0\n
\n \n \n \n \n m PROVISIONS \u00a0\n
\n \n Provisions are recognized when the Group \u00a0 has a present obligation, legal or constructive \u00a0arising of from a past event, it is probable that \u00a0an outflow of resources embodying economic \u00a0benefits will be required to settle the obliga- \u00a0tion, and a reliable estimate can be made of theamount of the obligation. \u00a0\n
\n \n The amounts recognized in the consolidated \u00a0 statement of financial position as a provision \u00a0is the best estimate of the expenditure requiredto settle the present obligation at the end of thereporting period, taking into account all risks \u00a0and uncertainties surrounding the amount to be \u00a0recognized as a provision and, where the time \u00a0value of money is material, the financial effect \u00a0of discounting provided that the expenditure tobe made each period can be reliably estimated.The discount rate is determined before taxes, \u00a0considering money temporary value, as well\u00a0asthe specific risks that have not been consid- \u00a0ered in the future flows related to the provision \u00a0at each closing date. \u00a0\n
\n \n Single obligations are valued by the individual \u00a0 outcome that is most probable. \u00a0\n
\n \n If it is not probable that an outflow of resources will be required to settle an obligation, the pro-vision is reversed. The reversal is made againstthe Consolidated statement of comprehensive \u00a0income items in which the corresponding \u00a0expense was recorded and the excess, if any, isrecognized under other income. \u00a0\n
\n \n \n Contingent liabilities are possible obligations \u00a0 arising from past events and whose existence \u00a0will be confirmed only upon the occurrence or \u00a0non-occurrence of one or more uncertain fu- \u00a0ture events not wholly within the control of the \u00a0Group. Contingent liabilities are not recognizedbut only disclosed in the notes to the consoli- \u00a0dated financial statements. \u00a0\n
\n \n \n \n \n \n n\n
\n \n RECOGNITION \u00a0\n
\n \n OF REVENUE \u00a0\n
\n \n The Group is in the business of providing ser- \u00a0 vices and products in the field of regenerative \u00a0energies. Revenue from contract with custom- \u00a0ers is recognized when control of the goods and \u00a0project services are transferred to the custom- \u00a0ers. The Group assesses whether a transaction \u00a0is comprised of different components, in order \u00a0to apply the appropriate income recognition \u00a0criteria to each one. Revenue from providing \u00a0service and selling goods are recognized at the \u00a0fair value of the consideration received or receiv- \u00a0able. \u00a0\n
\n \n REVENUE FROM PROJECT DEVELOPMENT \u00a0\n
\n The Group recognises revenue from project \u00a0 development over time any other use of the \u00a0developed project would burden the contrac- \u00a0tor with considerable losses, no alternative use \u00a0outside of the intended use can be attested for \u00a0the service. The agreements made in project \u00a0development contracts guarantee the Group ap- \u00a0propriate remuneration for the services rendered \u00a0in each case. \u00a0\n
\n \n The Group uses an input method in measuring \u00a0 progress input-orientated according to the cost- \u00a0to-cost method.\u00a0The cost-oriented approach to \u00a0performance measurement is based on the ratio \u00a0of the fulfilment costs incurred up to the assess- \u00a0ment date to the total costs expected for the \u00a0provision of the services owed. \u00a0\n
\n \n The Group regularly checks if the contract is \u00a0 onerous and make provision where appropriate. \u00a0\n
\n \n REVENUE FROM OWN OPERATIONS \u00a0\n
\n \n Revenue from own operations is recognized at \u00a0 the point in time when the delivery is made to \u00a0the customer. \u00a0\n
\n \n \n \n \n o\n
\n \n BORROWING COSTS \u00a0\n
\n \n Borrowing cost directly attributable to the ac- \u00a0 quisition, construction or production of assets \u00a0that necessarily takes a substantial period to \u00a0get ready for its intended use are capitalized aspart of the cost of the assets. All other borrow-ing cost are expensed in the period in which \u00a0they occur. \u00a0\n
\n \n \n \n p\n
\n \n INCOME TAX \u00a0\n
\n \n The year\u2019s income tax expense or benefit \u00a0 comprises current tax and deferred tax. Current \u00a0and deferred tax are recognized as income or \u00a0an expense and included in the Consolidated \u00a0statement of comprehensive income, except tothe extent that the tax arises from a transac- \u00a0tion or event which is recognized, in the same \u00a0or a different year, directly in equity, or from a \u00a0business combination. \u00a0\n
\n \n The Group recognizes deductions for invest- \u00a0 ment by applying the recognition and meas- \u00a0urement criteria of the assets for current or \u00a0deferred tax, unless they have the nature of a \u00a0grant. If the deductions have the nature of a \u00a0grant, they are recognized, presented and val- \u00a0ued by applying the corresponding accounting \u00a0policy. For these purposes, the Group consid- \u00a0ers that the deductions whose application \u00a0is independent of the existence of a positive \u00a0integral fee and that have substantive opera- \u00a0tional conditions additional to the realization or \u00a0maintenance of the investment are subsidized. \u00a0\n
\n \n CURRENT TAX \u00a0\n
\n \n Current income tax assets and liabilities are \u00a0 measured at the amount expected to be recov- \u00a0ered from or paid to tax authorities using the \u00a0tax rates and tax laws enacted or substantially \u00a0enacted at the reporting date where the consol- \u00a0idated entity is domiciled. Management periodi- \u00a0cally evaluates positions taken in tax returns \u00a0\n
\n \n with respect to situations in which applicable \u00a0 tax regulations are subject to interpretation and \u00a0establishes provisions where appropriate. \u00a0\n
\n \n The Companies of the H2APEX Group are sub- \u00a0 ject to German income tax respectively Luxem- \u00a0bourg income tax. \u00a0\n
\n \n \n DEFERRED TAX \u00a0\n
\n \n Deferred income tax is provided, using\u00a0the \u00a0 liability method, on all temporary differences \u00a0at the balance sheet date between the tax \u00a0bases of assets and liabilities and their carrying \u00a0amounts for financial reporting purposes. \u00a0\n
\n \n Deferred tax liabilities are the amounts pay- \u00a0 able in the future as income tax related to \u00a0taxable temporary differences while deferred \u00a0tax assets are the amounts to be recovered \u00a0as income tax due to the existence of deduct- \u00a0ible temporary differences, taxable negative \u00a0tax bases or deductions pending application. \u00a0For these purposes, a temporary difference \u00a0is understood as the difference between the \u00a0book value of assets and liabilities and their tax \u00a0base. \u00a0\n
\n \n RECOGNITION OF DEFERRED \u00a0\n
\n \n TAX LIABILITIES \u00a0\n
\n \n The Group recognizes deferred tax liabilities in \u00a0 all cases except if: \u00a0\n
\n \n \u2022\n
\n \n they arise from the initial recognition of \u00a0 goodwill or an asset or liability in a trans- \u00a0action that is not a business combination \u00a0and, at the time of the transaction, affects \u00a0neither accounting profit nor taxable in- \u00a0come; \u00a0\n
\n \n \u2022\n
\n \n they correspond to differences related to \u00a0 investments in subsidiaries, associates \u00a0and joint ventures over which the Group \u00a0has the ability to control the time of its re- \u00a0versal and it is not probable that its rever- \u00a0sal will occur in the foreseeable future. \u00a0\n
\n \n \n \n \n \n \n RECOGNITION OF DEFERRED TAX ASSETS \u00a0\n
\n \n The Group recognizes deferred tax assets as \u00a0 long as: \u00a0\n
\n \n \u2022\n
\n \n it is probable that sufficient taxable \u00a0 income will be available against which \u00a0they can be utilized or when tax legisla- \u00a0tion envisages the possibility of convertingdeferred tax assets into a receivable from \u00a0public entities in the future. However, the \u00a0assets arising from the initial recognition \u00a0of assets or liabilities in a transaction that \u00a0is not a business combination and at the \u00a0date of the transaction does not affect \u00a0either the accounting result or the taxable \u00a0income, are not recognized; and they cor- \u00a0respond to temporary differences related \u00a0to investments in subsidiaries, associates \u00a0and joint ventures insofar as the temporary \u00a0differences will revert in the foreseeable \u00a0future and positive future fiscal gains are \u00a0expected to offset the differences. \u00a0\n
\n \n It is considered probable that the Group has \u00a0 sufficient tax profits to recover deferred tax as- \u00a0sets, provided there are temporary differences \u00a0taxable in sufficient amount, related to the \u00a0same tax authority and to the same taxpayer, \u00a0the reversal of which is expected in the same \u00a0fiscal year in which the deductible temporary \u00a0differences are expected to reverse or in years \u00a0in which a tax loss, arising from a deductible \u00a0temporary difference, can be offset by previous \u00a0or subsequent earnings. \u00a0\n
\n \n In order to determine future tax profits, the \u00a0 Group takes into account tax planning opportu- \u00a0nities, provided that it intends to adopt them or \u00a0is likely to adopt them. \u00a0\n
\n \n \n OFFSETTING OF TAX ASSETS \u00a0\n
\n \n AND LIABILITIES \u00a0\n
\n \n The Group only offsets current tax assets\u00a0and \u00a0 liabilities if there is a legal right against the tax \u00a0authorities and intention to settle the resulting \u00a0tax due at their net amount or to realize the as- \u00a0sets and settle the liability simultaneously. \u00a0\n
\n \n \n q\n
\n \n CLASSIFICATION OF \u00a0\n
\n \n ASSETS AND LIABILITIES \u00a0\n
\n \n BETWEEN CURRENT AND \u00a0\n
\n \n NON-CURRENT \u00a0\n
\n \n The Group presents the consolidated state- \u00a0 ment of financial position classifying assets \u00a0and liabilities between current and non-current. \u00a0For these purposes, current assets or liabilities \u00a0are those that meet the following criteria: \u00a0\n
\n \n \u2022\n
\n \n Assets are classified as current when they \u00a0 are expected to be realized or there is an \u00a0intention to sell or consume them during \u00a0the normal operating cycle of the Group, \u00a0they are kept mainly for negotiation pur- \u00a0poses, they are expected to be carried out \u00a0within a period of twelve months after the \u00a0closing date or it is cash or cash equiva- \u00a0lents, except in those cases where they \u00a0cannot be exchanged or used to settle a \u00a0liability, at least within twelve months after \u00a0the reporting date. \u00a0\n
\n \n \u2022\n
\n \n All other assets are classified as non-cur- \u00a0 rent assets. \u00a0\n
\n \n \u2022\n
\n \n Liabilities are classified as current when \u00a0 they are expected to be settled in\u00a0the \u00a0normal operating cycle of the Group, they \u00a0are kept mainly for trading, they must be \u00a0settled within a period of twelve months \u00a0from the reporting date, or the Group does \u00a0not have the unconditional right to defer \u00a0the settlement of the liabilities during the \u00a0twelve months following the reporting \u00a0date. \u00a0\n
\n \n \u2022\n
\n \n Financial liabilities are classified as current \u00a0 when they must be settled within twelve \u00a0months after the reporting date, even if the \u00a0original term is for a period of more than \u00a0twelve months and there is a refinancing \u00a0or restructuring agreement for long-term \u00a0payments that has concluded after the \u00a0reporting date and before the consolidated \u00a0financial statements are authorized for \u00a0issue. \u00a0\n
\n \n \u2022\n
\n \n All other liabilities are classified as non- \u00a0 current liabilities. \u00a0\n
\n \n \n \n 3. SEGMENT INFORMATION \u00a0\n
\n \n For management purposes, the Group is organ- \u00a0 ised into business units based on its products \u00a0and services and has four reportable segments, \u00a0as follows: \u00a0\n
\n \n PROJECT DEVELOPMENT \u00a0\n
\n \n The Project Development Segment includes all \u00a0 project development and system integration for \u00a0third-party hydrogen plants. The turnkey solu- \u00a0tions for the supply of hydrogen are modular, \u00a0tech-agnostic and tailor-made to comply with \u00a0complex and diverse customer requirements. \u00a0\n
\n \n OWN OPERATIONS \u00a0\n
\n \n The Own Operations Segment includes the pro- \u00a0 duction and selling of green hydrogen as well as \u00a0the \u201cderivatives\u201d electricity and heat generated at \u00a0its own hydrogen plants. \u00a0\n
\n \n STORAGE SEGMENT \u00a0\n
\n \n The Storage Segment includes the development \u00a0 and manufacturing of different hydrogen storage \u00a0systems. \u00a0\n
\n \n OTHERS \u00a0\n
\n \n Others Includes costs for the holding and prop- \u00a0 erty companies and the acquisition and manage- \u00a0ment of properties mainly in connection with the \u00a0production of green hydrogen. \u00a0\n
\n \n The Executive Management Committee is the \u00a0 Chief Operating Decision Maker (CODM) and \u00a0monitors the operating results of its business \u00a0units separately for the purpose of making \u00a0decisions about resource allocation and perfor- \u00a0mance assessment. Segment performance is \u00a0evaluated based on pro\ufb01t or loss and is meas- \u00a0ured consistently with pro\ufb01t or loss in the con- \u00a0solidated \ufb01nancial statements. Also, the Group\u2019s \u00a0income taxes are managed on a Group basis and \u00a0are not allocated to operating segments. \u00a0\n
\n \n Transfer prices between operating segments are \u00a0 on an arm\u2019s length basis in a manner similar to \u00a0transactions with third parties. \u00a0\n
\n \n \n \n Inter-segment revenues are eliminated upon \u00a0 consolidation and re\ufb02ected in the adjustments \u00a0and eliminations\u2019 column. All other adjustments \u00a0and eliminations are part of detailed reconcilia- \u00a0tions presented further below. \u00a0\n
\n ADJUSTMENTS AND ELIMINATIONS \u00a0\n
\n Capital expenditure consists of additions of \u00a0 property, plant and equipment, intangible assets \u00a0and investment\u00a0properties including assets \u00a0from the acquisition of subsidiaries. Inter-seg- \u00a0ment revenues are eliminated on consolidation. \u00a0\n
\n \n Earnings per share (EPS) is calculated by divid- \u00a0 ing the pro\ufb01t attributable to the ordinary share- \u00a0holders of the company by the weighted averagenumber of ordinary shares outstanding during \u00a0the period excluding ordinary shares purchased \u00a0by the Company and held as Treasury Shares. \u00a0\n
\n \n 5. FAIR\u00a0VALUE MEASUREMENT \u00a0\n
\n \n \n The Group measures \ufb01nancial instruments at \u00a0 fair value at each balance sheet date. \u00a0The fair value of non-\ufb01nancial assets is deter- \u00a0mined for the purpose of the impairment test \u00a0and for disclosure purposes. As per IFRS 13 \u00a0de\ufb01nition of fair value is the price that would be \u00a0received to sell an asset or paid to \u00a0transfer a liability in an orderly transaction be- \u00a0tween market participants at the measurement \u00a0date. The fair value measurement is based on \u00a0the presumption that the transaction to sell the \u00a0asset or transfer the liability takes place either: \u00a0\n
\n \n \n \u2022\n
\n \n In the principal market for the asset or \u00a0 liability, or \u00a0\n
\n \n \u2022\n
\n \n In the absence of a principal market, in the \u00a0 most advantageous market for the asset or \u00a0liability \u00a0\n
\n \n \n The principal or the most advantageous market \u00a0 must be accessible to by the Group. The fair \u00a0value of an asset or a liability is measured using \u00a0the assumptions that market participants would \u00a0use when pricing the asset or liability, assuming \u00a0that market participants act in their economic \u00a0best interest. A fair value measurement of a \u00a0non-\ufb01nancial asset takes into account a market \u00a0participant\u2019s ability to generate economic bene- \u00a0\ufb01ts by using the asset in its highest and best use \u00a0or by selling it to another market participant that \u00a0would use the asset in its highest and best use. \u00a0The Group uses valuation techniques that are \u00a0appropriate in the circumstances and for which \u00a0suf\ufb01cient data are available to measure fair \u00a0value, maximising the use of relevant observable \u00a0inputs and minimising the use of unobservable \u00a0inputs. All assets and liabilities for which fair \u00a0value is measured or disclosed in the \ufb01nancial \u00a0statements are categorised within the fair value \u00a0hierarchy, described as follows, based on the \u00a0lowest level of input that is signi\ufb01cant to the fair \u00a0value measurement as a whole: \u00a0\n
\n \n \n \n Level 1 \u2014 Quoted (unadjusted) market prices in \u00a0 active markets for identical assets or liabilities \u00a0\n
\n Level 2 \u2014 Valuation techniques for which the \u00a0lowest level input that is signi\ufb01cant to the fair \u00a0value measurement is directly or indirectly ob- \u00a0servable \u00a0\n
\n Level 3 \u2014 Valuation techniques for which the \u00a0 lowest level input that is signi\ufb01cant to the fair \u00a0value measurement is unobservable \u00a0\n
\n For assets and liabilities that are recognised \u00a0 in the consolidated \ufb01nancial statements on a \u00a0recurring basis, the Group determines whether \u00a0transfers have occurred between Levels in the \u00a0hierarchy by re-assessing categorisation (based \u00a0on the lowest level input that is signi\ufb01cant to the \u00a0fair value measurement as a whole) at the end \u00a0of each reporting period. \u00a0\n
\n \n \n The lifetime credit loss of trade receivables was \u00a0 determined for each customer based on data \u00a0from an external rating agency. \u00a0\n
\n \n ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfMaterialAccountingPolicyInformationExplanatory",
"language": "en",
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"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"esef-43352_2023": {
"value": "\n 2. BASIS\u00a0OF PREPARATION \u00a0\n
\n \n a STATEMENT \u00a0\n
\n \n OF COMPLIANCE \u00a0\n
\n \n The consolidated financial statements of \u00a0 H2APEX are based on the financial statements \u00a0of the individual group companies drawn up \u00a0according to uniform accounting principles \u00a0at 31 December 2023. They were drawn up in \u00a0accordance with the International Financial \u00a0Reporting Standards (IFRS) as endorsed by \u00a0the European Union (\u201cIFRS-EU\u201d) as well as the \u00a0interpretations issued by the IFRS Interpreta- \u00a0tions Committee (\u201cIFRIC\u201d) applicable\u00a0to the \u00a0companies reporting under IFRS and comply \u00a0with Luxembourg law. \u00a0\n
\n \n The consolidated financial statements have \u00a0 been prepared under the historical cost. \u00a0\n
\n \n \n The accounting principles applied to the con- \u00a0\n \n solidated financial statements at 31 December \u00a0\n \n 2023 have been amended to comply with all \u00a0\n \n new and revised IFRS standards and interpreta- \u00a0\n \n tions adopted by the European Union (EU) with \u00a0\n \n effective date in 2023. \u00a0 \n \n
\n \n The consolidated financial statements of the \u00a0 H2APEX as of 31 December 2023 were ap- \u00a0proved for issuance by the Supervisory Board \u00a0and the General Partner of H2APEX Group SCAon 25 April 2024. \u00a0\n
\n \n \n b GOING\u00a0CONCERN \u00a0\n
\n \n The General Partner has considered the Group\u2019s \u00a0 ability to continue as a going concern in the fore- \u00a0seeable future. The General Partner highlights \u00a0the \ufb01nancial stability of the Group as well as the \u00a0expected development of its business which \u00a0provides predictable cash \ufb02ows in a regulatory \u00a0environment. The General Partner adopted the \u00a0going concern basis in preparing these consoli- \u00a0dated \ufb01nancial statements. \u00a0\n
\n \n c\n
\n COMPARATIVE \u00a0\n
\n INFORMATION \u00a0\n
\n In accordance with IAS 1, for comparison \u00a0 purposes the information contained in these \u00a0notes to the consolidated financial statements \u00a0for 2023 is presented alongside similar infor- \u00a0mation for 2022. Based on reverse acquisition \u00a0accounting principles, the comparative infor- \u00a0mation and figures 2022 refer to APEX Group \u00a0consolidated financial statements as of 31 \u00a0December 2022. \u00a0\n
\n \n e\n
\n \n THE ACCOUNTING \u00a0\n
\n \n PRINCIPLES APPLIED \u00a0\n
\n \n TO THE CONSOLIDATED \u00a0\n
\n \n FINANCIAL STATEMENTS \u00a0\n
\n \n AT 31 DECEMBER 2023 \u00a0\n
\n \n HAVE BEEN AMENDED \u00a0\n
\n \n TO COMPLY WITH ALL \u00a0\n
\n \n NEW AND AMENDED \u00a0\n
\n \n IFRS STANDARDS AND \u00a0\n
\n \n INTERPRETATIONS \u00a0\n
\n \n ADOPTED BY THE EURO- \u00a0\n
\n \n PEAN UNION (EU) WITH \u00a0\n
\n \n EFFECTIVE DATE IN 2023 \u00a0\n
\n \n \n IFRS 17 INSURANCE CONTRACTS \u00a0\n
\n \n IFRS 17 Insurance Contracts is a comprehen- \u00a0 sive new accounting standard for insurance \u00a0contracts covering recognition and measure- \u00a0ment, presentation and disclosure. IFRS 17 \u00a0replaces IFRS 4 Insurance Contracts; IFRS\u00a017 \u00a0applies to all types of insurance contracts (i.e., \u00a0life, non-life, direct insurance and re-insurance),regardless of the type of entity that issues \u00a0them, as well as certain guarantees and finan- \u00a0cial instruments with discretionary participa- \u00a0tion features. A few scope exceptions will apply.The overall objective of IFRS 17 is to provide acomprehensive accounting model for insurancecontracts that is more useful and consistent \u00a0for insurers, covering all relevant accounting \u00a0aspects. IFRS 17 is based on a general model, \u00a0supplemented by: \u00a0\n
\n \n \u2022\n
\n \n A specific adaptation for contracts with \u00a0 direct participation features (the variable \u00a0fee approach) \u00a0\n
\n \n \u2022\n
\n \n A simplified approach (the premium \u00a0 allocation approach) mainly for short-dura-tion contracts \u00a0\n
\n \n The new standard had no impact on the \u00a0 Group\u2019s consolidated financial statements. \u00a0\n
\n \n DEFINITION OF ACCOUNTING ESTIMATES - \u00a0 AMENDMENTS TO IAS 8 \u00a0\n
\n \n The amendments to IAS 8 clarify the distinc- \u00a0 tion between changes in accounting estimates, \u00a0changes in accounting policies and the correc- \u00a0tion of errors. They also clarify how entities use \u00a0measurement techniques and inputs to develop \u00a0accounting estimates. \u00a0\n
\n \n The amendments had no impact on the Group\u2019s \u00a0 consolidated financial statements. \u00a0\n
\n \n DISCLOSURE OF ACCOUNTING POLICIES \u00a0 - AMENDMENTS TO IAS 1 AND IFRS PRAC- \u00a0TICE STATEMENT 2 \u00a0\n
\n \n The amendments to IAS 1 and IFRS Practice \u00a0 Statement 2 Making Materiality Judgements \u00a0provide guidance and examples to help entities \u00a0apply materiality judgements to accounting \u00a0policy disclosures. The amendments aim to \u00a0help entities provide accounting policy disclo- \u00a0sures that are more useful by replacing the \u00a0requirement for entities to disclose their \u2018signifi- \u00a0cant\u2019 accounting policies with a requirement to \u00a0disclose their \u2018material\u2019 accounting policies and \u00a0adding guidance on how entities apply the con- \u00a0cept of materiality in making decisions about \u00a0accounting policy disclosures. \u00a0\n
\n \n The amendments have had an impact on the \u00a0 Group\u2019s disclosures of accounting policies, but \u00a0not on the measurement, recognition or pres- \u00a0entation of any items in the Group\u2019s financial \u00a0statements. \u00a0\n
\n \n DEFERRED TAX RELATED TO ASSETS AND \u00a0 LIABILITIES ARISING FROM A SINGLE \u00a0TRANSACTION \u2013 AMENDMENTS TO IAS 12 \u00a0\n
\n \n The amendments to IAS 12 Income Tax narrow \u00a0 the scope of the initial recognition exception, \u00a0so that it no longer applies to transactions that \u00a0give rise to equal taxable and deductible tem- \u00a0porary differences such as leases and decom- \u00a0missioning liabilities. \u00a0\n
\n \n The amendments had no impact on the Group\u2019s \u00a0 consolidated financial statements. \u00a0\n
\n \n \n \n \n \n INTERNATIONAL TAX REFORM\u2014PILLAR \u00a0 TWO MODEL RULES \u2013 AMENDMENTS TO \u00a0IAS 12 \u00a0\n
\n \n The amendments to IAS 12 have been intro- \u00a0 duced in response to the OECD\u2019s BEPS Pillar \u00a0Two rules and include: \u00a0\n
\n \n \u2022\n
\n \n A mandatory temporary exception to the \u00a0 recognition and disclosure of deferred \u00a0taxes arising from the jurisdictional imple- \u00a0mentation of the Pillar Two model rules; \u00a0and \u00a0\n
\n \n \u2022\n
\n \n Disclosure requirements for affected \u00a0 entities to help users of the financial \u00a0statements better understand an entity\u2019s \u00a0exposure to Pillar Two income taxes arisingfrom that legislation, particularly before its \u00a0effective date. \u00a0\n
\n \n The mandatory temporary exception \u2013 the use \u00a0 of which is required to be disclosed \u2013 applies \u00a0immediately. The remaining disclosure re- \u00a0quirements apply for annual reporting periods \u00a0beginning on or after 1 January 2023, but not \u00a0for any interim periods ending on or before 31 \u00a0December 2023. \u00a0\n
\n \n The amendments had no impact on the Group\u2019s consolidated financial statements as the Group \u00a0is not in scope of the Pillar Two model rules as \u00a0its revenue is less that EUR 750 million/year. \u00a0\n
\n \n \n ",
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"concept": "ifrs-full:DisclosureOfBasisOfPreparationOfFinancialStatementsExplanatory",
"language": "en",
"entity": "scheme:391200TZVOLI3RYBWS74",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"esef-43330_2023": {
"value": "\n \n a STATEMENT \u00a0\n
\n \n OF COMPLIANCE \u00a0\n
\n \n The consolidated financial statements of \u00a0 H2APEX are based on the financial statements \u00a0of the individual group companies drawn up \u00a0according to uniform accounting principles \u00a0at 31 December 2023. They were drawn up in \u00a0accordance with the International Financial \u00a0Reporting Standards (IFRS) as endorsed by \u00a0the European Union (\u201cIFRS-EU\u201d) as well as the \u00a0interpretations issued by the IFRS Interpreta- \u00a0tions Committee (\u201cIFRIC\u201d) applicable\u00a0to the \u00a0companies reporting under IFRS and comply \u00a0with Luxembourg law. \u00a0\n
\n \n The consolidated financial statements have \u00a0 been prepared under the historical cost. \u00a0\n
\n \n The accounting principles applied to the con- \u00a0\n \n solidated financial statements at 31 December \u00a0\n \n 2023 have been amended to comply with all \u00a0\n \n new and revised IFRS standards and interpreta- \u00a0\n \n tions adopted by the European Union (EU) with \u00a0\n \n effective date in 2023. \u00a0 \n ",
"dimensions": {
"concept": "ifrs-full:StatementOfIFRSCompliance",
"language": "en",
"entity": "scheme:391200TZVOLI3RYBWS74",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"esef-43349_2023": {
"value": "\n \n The consolidated financial statements of the \u00a0 H2APEX as of 31 December 2023 were ap- \u00a0proved for issuance by the Supervisory Board \u00a0and the General Partner of H2APEX Group SCAon 25 April 2024. \u00a0\n
\n ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfAuthorisationOfFinancialStatementsExplanatory",
"language": "en",
"entity": "scheme:391200TZVOLI3RYBWS74",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"esef-43403_2023": {
"value": "\n \n b GOING\u00a0CONCERN \u00a0\n
\n \n The General Partner has considered the Group\u2019s \u00a0 ability to continue as a going concern in the fore- \u00a0seeable future. The General Partner highlights \u00a0the \ufb01nancial stability of the Group as well as the \u00a0expected development of its business which \u00a0provides predictable cash \ufb02ows in a regulatory \u00a0environment. The General Partner adopted the \u00a0going concern basis in preparing these consoli- \u00a0dated \ufb01nancial statements. \u00a0\n
\n ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfGoingConcernExplanatory",
"language": "en",
"entity": "scheme:391200TZVOLI3RYBWS74",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"esef-43340_2023": {
"value": "\n \n \n \n d SIGNIFICANT \u00a0 \n \n
\n \n \n ACCOUNTING ESTIMATES \u00a0\n
\n \n AND KEY ASSUMPTIONS \u00a0\n
\n \n AND JUDGEMENTS WHEN \u00a0\n
\n \n APPLYING ACCOUNTING \u00a0\n
\n \n POLICIES \u00a0\n
\n \n \n \n The General Partner needs to apply relevant ac- \u00a0 counting estimates, judgements and assump- \u00a0tions based on the Group\u2019s accounting princi- \u00a0ples when preparing the consolidated financial \u00a0statements in line with IFRS-EU. A summary\u00a0of \u00a0the items requiring a greater degree of judge- \u00a0ment, or which are more complex, or where the \u00a0assumptions and estimates made are signifi- \u00a0cant to the preparation of the consolidated \u00a0financial statements is as follows: \u00a0\n
\n \n \n \n \n \n \n IMPAIRMENT OF NON-CURRENT ASSETS \u00a0 (SEE NOTES 2. F) \u00a0\n
\n \n In accordance with applicable accounting regu- lations, the Group performs annual impairment \u00a0tests of its cash generating units to identify \u00a0impairment indicators. These impairment tests \u00a0imply an estimation of the future evolution of \u00a0the businesses and of the most appropriate \u00a0discount rates used in each case. The Group \u00a0believes that its estimates in this regard are \u00a0adequate and consistent with the current eco- \u00a0nomic situation and that they reflect its invest- \u00a0ment plans and the best available estimate of \u00a0its future income and expenses and considers \u00a0that its discount rates adequately reflect the \u00a0risks corresponding to each cash generating \u00a0unit. \u00a0\n
\n \n USEFUL LIFE OF TANGIBLE ASSETS AND IN- \u00a0 TANGIBLE ASSETS (SEE NOTES 2.2 D AND E) \u00a0\n
\n \n The General Partner determines the estimated \u00a0 useful lives and corresponding depreciation \u00a0and amortization for its tangible assets and \u00a0intangible assets. This estimate is based on \u00a0the expected duration of each of the Group\u2019s \u00a0tangible assets and intangible assets and the \u00a0forecast life cycles of the products it sells. The \u00a0General Partner will modify the depreciation \u00a0charges for these items when the useful lives \u00a0are considered to differ from the lives previous- \u00a0ly estimated and will depreciate or derecognize \u00a0technically obsolete or non-strategic assets \u00a0that have been abandoned or sold. \u00a0\n
\n \n INCOME TAX/ DEFERRED TAX ASSETS (SEE \u00a0 NOTE 2.2 O, NOTE 8) \u00a0\n
\n Due to the legal status of the tax regulation \u00a0 applicable to the Group companies, certain \u00a0calculations are estimates and the ultimate \u00a0quantification of the tax is uncertain. Tax \u00a0is calculated based on Management\u2019s best \u00a0estimates according to the current status of \u00a0the tax legislation and taking into account its \u00a0foreseeable evolution. \u00a0\n
\n \n When the ultimate taxable income amount is \u00a0 different to the amounts initially recorded, the \u00a0effect of these differences is recognized in \u00a0income tax in the year in which they are deter- \u00a0mined. \u00a0\n
\n \n PROVISIONS FOR RISKS AND EXPENSES \u00a0 (SEE NOTE 2.2M,\u00a0NOTE 7) \u00a0\n
\n \n Despite the fact that these estimates have been \u00a0 made based on the best information available \u00a0at the close of the year ended 31 December \u00a02023 and until to the end of the subsequent \u00a0event period, it is possible that events may take \u00a0place afterwards which will require them to \u00a0be changed (upwards or downwards) in future \u00a0years, which would be done on a prospective \u00a0basis. \u00a0\n
\n \n \n ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfAssetsAndLiabilitiesWithSignificantRiskOfMaterialAdjustmentExplanatory",
"language": "en",
"entity": "scheme:391200TZVOLI3RYBWS74",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"esef-43344_2023": {
"value": "\n \n \n d SIGNIFICANT \u00a0 \n \n
\n \n \n ACCOUNTING ESTIMATES \u00a0\n
\n \n AND KEY ASSUMPTIONS \u00a0\n
\n \n AND JUDGEMENTS WHEN \u00a0\n
\n \n APPLYING ACCOUNTING \u00a0\n
\n \n POLICIES \u00a0\n
\n \n \n \n The General Partner needs to apply relevant ac- \u00a0 counting estimates, judgements and assump- \u00a0tions based on the Group\u2019s accounting princi- \u00a0ples when preparing the consolidated financial \u00a0statements in line with IFRS-EU. A summary\u00a0of \u00a0the items requiring a greater degree of judge- \u00a0ment, or which are more complex, or where the \u00a0assumptions and estimates made are signifi- \u00a0cant to the preparation of the consolidated \u00a0financial statements is as follows: \u00a0\n
\n \n \n \n \n IMPAIRMENT OF NON-CURRENT ASSETS \u00a0 (SEE NOTES 2. F) \u00a0\n
\n \n In accordance with applicable accounting regu- lations, the Group performs annual impairment \u00a0tests of its cash generating units to identify \u00a0impairment indicators. These impairment tests \u00a0imply an estimation of the future evolution of \u00a0the businesses and of the most appropriate \u00a0discount rates used in each case. The Group \u00a0believes that its estimates in this regard are \u00a0adequate and consistent with the current eco- \u00a0nomic situation and that they reflect its invest- \u00a0ment plans and the best available estimate of \u00a0its future income and expenses and considers \u00a0that its discount rates adequately reflect the \u00a0risks corresponding to each cash generating \u00a0unit. \u00a0\n
\n \n USEFUL LIFE OF TANGIBLE ASSETS AND IN- \u00a0 TANGIBLE ASSETS (SEE NOTES 2.2 D AND E) \u00a0\n
\n \n The General Partner determines the estimated \u00a0 useful lives and corresponding depreciation \u00a0and amortization for its tangible assets and \u00a0intangible assets. This estimate is based on \u00a0the expected duration of each of the Group\u2019s \u00a0tangible assets and intangible assets and the \u00a0forecast life cycles of the products it sells. The \u00a0General Partner will modify the depreciation \u00a0charges for these items when the useful lives \u00a0are considered to differ from the lives previous- \u00a0ly estimated and will depreciate or derecognize \u00a0technically obsolete or non-strategic assets \u00a0that have been abandoned or sold. \u00a0\n
\n \n INCOME TAX/ DEFERRED TAX ASSETS (SEE \u00a0 NOTE 2.2 O, NOTE 8) \u00a0\n
\n Due to the legal status of the tax regulation \u00a0 applicable to the Group companies, certain \u00a0calculations are estimates and the ultimate \u00a0quantification of the tax is uncertain. Tax \u00a0is calculated based on Management\u2019s best \u00a0estimates according to the current status of \u00a0the tax legislation and taking into account its \u00a0foreseeable evolution. \u00a0\n
\n \n When the ultimate taxable income amount is \u00a0 different to the amounts initially recorded, the \u00a0effect of these differences is recognized in \u00a0income tax in the year in which they are deter- \u00a0mined. \u00a0\n
\n \n PROVISIONS FOR RISKS AND EXPENSES \u00a0 (SEE NOTE 2.2M,\u00a0NOTE 7) \u00a0\n
\n \n Despite the fact that these estimates have been \u00a0 made based on the best information available \u00a0at the close of the year ended 31 December \u00a02023 and until to the end of the subsequent \u00a0event period, it is possible that events may take \u00a0place afterwards which will require them to \u00a0be changed (upwards or downwards) in future \u00a0years, which would be done on a prospective \u00a0basis. \u00a0\n
\n \n ",
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"concept": "ifrs-full:DisclosureOfAccountingJudgementsAndEstimatesExplanatory",
"language": "en",
"entity": "scheme:391200TZVOLI3RYBWS74",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"esef-43339_2023": {
"value": "\n d SIGNIFICANT \u00a0 \n \n \n ACCOUNTING ESTIMATES \u00a0\n
\n \n AND KEY ASSUMPTIONS \u00a0\n
\n \n AND JUDGEMENTS WHEN \u00a0\n
\n \n APPLYING ACCOUNTING \u00a0\n
\n \n POLICIES \u00a0\n
\n \n \n The General Partner needs to apply relevant ac- \u00a0 counting estimates, judgements and assump- \u00a0tions based on the Group\u2019s accounting princi- \u00a0ples when preparing the consolidated financial \u00a0statements in line with IFRS-EU. A summary\u00a0of \u00a0the items requiring a greater degree of judge- \u00a0ment, or which are more complex, or where the \u00a0assumptions and estimates made are signifi- \u00a0cant to the preparation of the consolidated \u00a0financial statements is as follows: \u00a0\n
\n \n \n IMPAIRMENT OF NON-CURRENT ASSETS \u00a0 (SEE NOTES 2. F) \u00a0\n
\n \n In accordance with applicable accounting regu- lations, the Group performs annual impairment \u00a0tests of its cash generating units to identify \u00a0impairment indicators. These impairment tests \u00a0imply an estimation of the future evolution of \u00a0the businesses and of the most appropriate \u00a0discount rates used in each case. The Group \u00a0believes that its estimates in this regard are \u00a0adequate and consistent with the current eco- \u00a0nomic situation and that they reflect its invest- \u00a0ment plans and the best available estimate of \u00a0its future income and expenses and considers \u00a0that its discount rates adequately reflect the \u00a0risks corresponding to each cash generating \u00a0unit. \u00a0\n
\n \n USEFUL LIFE OF TANGIBLE ASSETS AND IN- \u00a0 TANGIBLE ASSETS (SEE NOTES 2.2 D AND E) \u00a0\n
\n \n The General Partner determines the estimated \u00a0 useful lives and corresponding depreciation \u00a0and amortization for its tangible assets and \u00a0intangible assets. This estimate is based on \u00a0the expected duration of each of the Group\u2019s \u00a0tangible assets and intangible assets and the \u00a0forecast life cycles of the products it sells. The \u00a0General Partner will modify the depreciation \u00a0charges for these items when the useful lives \u00a0are considered to differ from the lives previous- \u00a0ly estimated and will depreciate or derecognize \u00a0technically obsolete or non-strategic assets \u00a0that have been abandoned or sold. \u00a0\n
\n \n INCOME TAX/ DEFERRED TAX ASSETS (SEE \u00a0 NOTE 2.2 O, NOTE 8) \u00a0\n
\n Due to the legal status of the tax regulation \u00a0 applicable to the Group companies, certain \u00a0calculations are estimates and the ultimate \u00a0quantification of the tax is uncertain. Tax \u00a0is calculated based on Management\u2019s best \u00a0estimates according to the current status of \u00a0the tax legislation and taking into account its \u00a0foreseeable evolution. \u00a0\n
\n \n When the ultimate taxable income amount is \u00a0 different to the amounts initially recorded, the \u00a0effect of these differences is recognized in \u00a0income tax in the year in which they are deter- \u00a0mined. \u00a0\n
\n \n PROVISIONS FOR RISKS AND EXPENSES \u00a0 (SEE NOTE 2.2M,\u00a0NOTE 7) \u00a0\n
\n \n Despite the fact that these estimates have been \u00a0 made based on the best information available \u00a0at the close of the year ended 31 December \u00a02023 and until to the end of the subsequent \u00a0event period, it is possible that events may take \u00a0place afterwards which will require them to \u00a0be changed (upwards or downwards) in future \u00a0years, which would be done on a prospective \u00a0basis. \u00a0\n
\n ",
"dimensions": {
"concept": "ifrs-full:ExplanationOfAssumptionAboutFutureWithSignificantRiskOfResultingInMaterialAdjustments",
"language": "en",
"entity": "scheme:391200TZVOLI3RYBWS74",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"esef-43361_2023": {
"value": "\n \n e\n
\n \n THE ACCOUNTING \u00a0\n
\n \n PRINCIPLES APPLIED \u00a0\n
\n \n TO THE CONSOLIDATED \u00a0\n
\n \n FINANCIAL STATEMENTS \u00a0\n
\n \n AT 31 DECEMBER 2023 \u00a0\n
\n \n HAVE BEEN AMENDED \u00a0\n
\n \n TO COMPLY WITH ALL \u00a0\n
\n \n NEW AND AMENDED \u00a0\n
\n \n IFRS STANDARDS AND \u00a0\n
\n \n INTERPRETATIONS \u00a0\n
\n \n ADOPTED BY THE EURO- \u00a0\n
\n \n PEAN UNION (EU) WITH \u00a0\n
\n \n EFFECTIVE DATE IN 2023 \u00a0\n
\n \n \n IFRS 17 INSURANCE CONTRACTS \u00a0\n
\n \n IFRS 17 Insurance Contracts is a comprehen- \u00a0 sive new accounting standard for insurance \u00a0contracts covering recognition and measure- \u00a0ment, presentation and disclosure. IFRS 17 \u00a0replaces IFRS 4 Insurance Contracts; IFRS\u00a017 \u00a0applies to all types of insurance contracts (i.e., \u00a0life, non-life, direct insurance and re-insurance),regardless of the type of entity that issues \u00a0them, as well as certain guarantees and finan- \u00a0cial instruments with discretionary participa- \u00a0tion features. A few scope exceptions will apply.The overall objective of IFRS 17 is to provide acomprehensive accounting model for insurancecontracts that is more useful and consistent \u00a0for insurers, covering all relevant accounting \u00a0aspects. IFRS 17 is based on a general model, \u00a0supplemented by: \u00a0\n
\n \n \u2022\n
\n \n A specific adaptation for contracts with \u00a0 direct participation features (the variable \u00a0fee approach) \u00a0\n
\n \n \u2022\n
\n \n A simplified approach (the premium \u00a0 allocation approach) mainly for short-dura-tion contracts \u00a0\n
\n \n The new standard had no impact on the \u00a0 Group\u2019s consolidated financial statements. \u00a0\n
\n \n DEFINITION OF ACCOUNTING ESTIMATES - \u00a0 AMENDMENTS TO IAS 8 \u00a0\n
\n \n The amendments to IAS 8 clarify the distinc- \u00a0 tion between changes in accounting estimates, \u00a0changes in accounting policies and the correc- \u00a0tion of errors. They also clarify how entities use \u00a0measurement techniques and inputs to develop \u00a0accounting estimates. \u00a0\n
\n \n The amendments had no impact on the Group\u2019s \u00a0 consolidated financial statements. \u00a0\n
\n \n DISCLOSURE OF ACCOUNTING POLICIES \u00a0 - AMENDMENTS TO IAS 1 AND IFRS PRAC- \u00a0TICE STATEMENT 2 \u00a0\n
\n \n The amendments to IAS 1 and IFRS Practice \u00a0 Statement 2 Making Materiality Judgements \u00a0provide guidance and examples to help entities \u00a0apply materiality judgements to accounting \u00a0policy disclosures. The amendments aim to \u00a0help entities provide accounting policy disclo- \u00a0sures that are more useful by replacing the \u00a0requirement for entities to disclose their \u2018signifi- \u00a0cant\u2019 accounting policies with a requirement to \u00a0disclose their \u2018material\u2019 accounting policies and \u00a0adding guidance on how entities apply the con- \u00a0cept of materiality in making decisions about \u00a0accounting policy disclosures. \u00a0\n
\n \n The amendments have had an impact on the \u00a0 Group\u2019s disclosures of accounting policies, but \u00a0not on the measurement, recognition or pres- \u00a0entation of any items in the Group\u2019s financial \u00a0statements. \u00a0\n
\n \n DEFERRED TAX RELATED TO ASSETS AND \u00a0 LIABILITIES ARISING FROM A SINGLE \u00a0TRANSACTION \u2013 AMENDMENTS TO IAS 12 \u00a0\n
\n \n The amendments to IAS 12 Income Tax narrow \u00a0 the scope of the initial recognition exception, \u00a0so that it no longer applies to transactions that \u00a0give rise to equal taxable and deductible tem- \u00a0porary differences such as leases and decom- \u00a0missioning liabilities. \u00a0\n
\n \n The amendments had no impact on the Group\u2019s \u00a0 consolidated financial statements. \u00a0\n
\n \n \n \n INTERNATIONAL TAX REFORM\u2014PILLAR \u00a0 TWO MODEL RULES \u2013 AMENDMENTS TO \u00a0IAS 12 \u00a0\n
\n \n The amendments to IAS 12 have been intro- \u00a0 duced in response to the OECD\u2019s BEPS Pillar \u00a0Two rules and include: \u00a0\n
\n \n \u2022\n
\n \n A mandatory temporary exception to the \u00a0 recognition and disclosure of deferred \u00a0taxes arising from the jurisdictional imple- \u00a0mentation of the Pillar Two model rules; \u00a0and \u00a0\n
\n \n \u2022\n
\n \n Disclosure requirements for affected \u00a0 entities to help users of the financial \u00a0statements better understand an entity\u2019s \u00a0exposure to Pillar Two income taxes arisingfrom that legislation, particularly before its \u00a0effective date. \u00a0\n
\n \n The mandatory temporary exception \u2013 the use \u00a0 of which is required to be disclosed \u2013 applies \u00a0immediately. The remaining disclosure re- \u00a0quirements apply for annual reporting periods \u00a0beginning on or after 1 January 2023, but not \u00a0for any interim periods ending on or before 31 \u00a0December 2023. \u00a0\n
\n \n The amendments had no impact on the Group\u2019s consolidated financial statements as the Group \u00a0is not in scope of the Pillar Two model rules as \u00a0its revenue is less that EUR 750 million/year. \u00a0\n
\n ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfChangesInAccountingPoliciesAccountingEstimatesAndErrorsExplanatory",
"language": "en",
"entity": "scheme:391200TZVOLI3RYBWS74",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"esef-43360_2023": {
"value": "\n \n IFRS 17 INSURANCE CONTRACTS \u00a0\n
\n \n IFRS 17 Insurance Contracts is a comprehen- \u00a0 sive new accounting standard for insurance \u00a0contracts covering recognition and measure- \u00a0ment, presentation and disclosure. IFRS 17 \u00a0replaces IFRS 4 Insurance Contracts; IFRS\u00a017 \u00a0applies to all types of insurance contracts (i.e., \u00a0life, non-life, direct insurance and re-insurance),regardless of the type of entity that issues \u00a0them, as well as certain guarantees and finan- \u00a0cial instruments with discretionary participa- \u00a0tion features. A few scope exceptions will apply.The overall objective of IFRS 17 is to provide acomprehensive accounting model for insurancecontracts that is more useful and consistent \u00a0for insurers, covering all relevant accounting \u00a0aspects. IFRS 17 is based on a general model, \u00a0supplemented by: \u00a0\n
\n \n \u2022\n
\n \n A specific adaptation for contracts with \u00a0 direct participation features (the variable \u00a0fee approach) \u00a0\n
\n \n \u2022\n
\n \n A simplified approach (the premium \u00a0 allocation approach) mainly for short-dura-tion contracts \u00a0\n
\n \n The new standard had no impact on the \u00a0 Group\u2019s consolidated financial statements. \u00a0\n
\n \n DEFINITION OF ACCOUNTING ESTIMATES - \u00a0 AMENDMENTS TO IAS 8 \u00a0\n
\n \n The amendments to IAS 8 clarify the distinc- \u00a0 tion between changes in accounting estimates, \u00a0changes in accounting policies and the correc- \u00a0tion of errors. They also clarify how entities use \u00a0measurement techniques and inputs to develop \u00a0accounting estimates. \u00a0\n
\n \n The amendments had no impact on the Group\u2019s \u00a0 consolidated financial statements. \u00a0\n
\n \n DISCLOSURE OF ACCOUNTING POLICIES \u00a0 - AMENDMENTS TO IAS 1 AND IFRS PRAC- \u00a0TICE STATEMENT 2 \u00a0\n
\n \n The amendments to IAS 1 and IFRS Practice \u00a0 Statement 2 Making Materiality Judgements \u00a0provide guidance and examples to help entities \u00a0apply materiality judgements to accounting \u00a0policy disclosures. The amendments aim to \u00a0help entities provide accounting policy disclo- \u00a0sures that are more useful by replacing the \u00a0requirement for entities to disclose their \u2018signifi- \u00a0cant\u2019 accounting policies with a requirement to \u00a0disclose their \u2018material\u2019 accounting policies and \u00a0adding guidance on how entities apply the con- \u00a0cept of materiality in making decisions about \u00a0accounting policy disclosures. \u00a0\n
\n \n The amendments have had an impact on the \u00a0 Group\u2019s disclosures of accounting policies, but \u00a0not on the measurement, recognition or pres- \u00a0entation of any items in the Group\u2019s financial \u00a0statements. \u00a0\n
\n \n DEFERRED TAX RELATED TO ASSETS AND \u00a0 LIABILITIES ARISING FROM A SINGLE \u00a0TRANSACTION \u2013 AMENDMENTS TO IAS 12 \u00a0\n
\n \n The amendments to IAS 12 Income Tax narrow \u00a0 the scope of the initial recognition exception, \u00a0so that it no longer applies to transactions that \u00a0give rise to equal taxable and deductible tem- \u00a0porary differences such as leases and decom- \u00a0missioning liabilities. \u00a0\n
\n \n The amendments had no impact on the Group\u2019s \u00a0 consolidated financial statements. \u00a0\n
\n \n \n INTERNATIONAL TAX REFORM\u2014PILLAR \u00a0 TWO MODEL RULES \u2013 AMENDMENTS TO \u00a0IAS 12 \u00a0\n
\n \n The amendments to IAS 12 have been intro- \u00a0 duced in response to the OECD\u2019s BEPS Pillar \u00a0Two rules and include: \u00a0\n
\n \n \u2022\n
\n \n A mandatory temporary exception to the \u00a0 recognition and disclosure of deferred \u00a0taxes arising from the jurisdictional imple- \u00a0mentation of the Pillar Two model rules; \u00a0and \u00a0\n
\n \n \u2022\n
\n \n Disclosure requirements for affected \u00a0 entities to help users of the financial \u00a0statements better understand an entity\u2019s \u00a0exposure to Pillar Two income taxes arisingfrom that legislation, particularly before its \u00a0effective date. \u00a0\n
\n \n The mandatory temporary exception \u2013 the use \u00a0 of which is required to be disclosed \u2013 applies \u00a0immediately. The remaining disclosure re- \u00a0quirements apply for annual reporting periods \u00a0beginning on or after 1 January 2023, but not \u00a0for any interim periods ending on or before 31 \u00a0December 2023. \u00a0\n
\n \n The amendments had no impact on the Group\u2019s consolidated financial statements as the Group \u00a0is not in scope of the Pillar Two model rules as \u00a0its revenue is less that EUR 750 million/year. \u00a0\n
\n ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfChangesInAccountingPoliciesExplanatory",
"language": "en",
"entity": "scheme:391200TZVOLI3RYBWS74",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"esef-43514_2023": {
"value": "\n \n \n g FUNCTIONAL\u00a0AND \u00a0\n
\n PRESENTATION \u00a0\n
\n CURRENCY \u00a0\n
\n The \ufb01gures disclosed in these consolidated \u00a0 \ufb01nancial statements are expressed in Euro \u00a0(\u201cEUR\u201d), the Group\u2019s functional and presentation \u00a0currency, rounded off to the nearest thousand, \u00a0unless otherwise stated. \u00a0\n
\n The following FX rates are assumed: \u00a0\n
\n \n
\n \n \n \n \n \n \n \n \n \n | \n 31/12/2023 | \n Average 2023 | \n 31/12/2022 | \n Average 2022 | \n
\n \n | 1 CHF | \n 1.08 | \n 1.03 | \n 1.02 | \n 1.00 | \n
\n \n | 1 USD | \n 0.90 | \n 0.92 | \n 0.94 | \n 0.95 | \n
\n \n
\n
Items contained in the subsidiaries\u2019 financial \u00a0 statements are recognized in the currency of \u00a0the primary economic environment in which \u00a0the respective subsidiary operates (\u201cFunctional \u00a0Currency\u201d). Each entity within the Group \u00a0determines its own functional currency. In \u00a0principle, the functional currencies of the sub- \u00a0sidiaries included in the consolidated financial \u00a0statements are their respective local curren- \u00a0cies. Since exceet Group AG, Switzerland, sold \u00a0its last remaining subsidiary by end of 2021 \u00a0and remained without operating business the \u00a0subsidiary exceet Group AG decided to change \u00a0its functional currency from Swiss Franc to \u00a0Euro in 2022. \u00a0\n
\n Transactions in foreign currencies are \u00a0 translated at the exchange rate of the func- \u00a0tional currency prevailing on the date of the \u00a0transaction. All resulting foreign exchange \u00a0differences are recognized in the consolidated \u00a0income statement. \u00a0\n
\n Monetary items denominated in foreign \u00a0 currencies are translated into the functional \u00a0currency at the exchange rate prevailing at the \u00a0balance sheet date. Exchange rate differences \u00a0are recorded in the consolidated income \u00a0statement. Non-monetary assets and liabilities \u00a0are translated at the historical rate. \u00a0\n
\n \n \n ",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory",
"language": "en",
"entity": "scheme:391200TZVOLI3RYBWS74",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"esef-43516_2023": {
"value": "\n \n g FUNCTIONAL\u00a0AND \u00a0\n
\n PRESENTATION \u00a0\n
\n CURRENCY \u00a0\n
\n The \ufb01gures disclosed in these consolidated \u00a0 \ufb01nancial statements are expressed in Euro \u00a0(\u201cEUR\u201d), the Group\u2019s functional and presentation \u00a0currency, rounded off to the nearest thousand, \u00a0unless otherwise stated. \u00a0\n
\n The following FX rates are assumed: \u00a0\n
\n \n
\n \n \n \n \n \n \n \n \n \n | \n 31/12/2023 | \n Average 2023 | \n 31/12/2022 | \n Average 2022 | \n
\n \n | 1 CHF | \n 1.08 | \n 1.03 | \n 1.02 | \n 1.00 | \n
\n \n | 1 USD | \n 0.90 | \n 0.92 | \n 0.94 | \n 0.95 | \n
\n \n
\n
Items contained in the subsidiaries\u2019 financial \u00a0 statements are recognized in the currency of \u00a0the primary economic environment in which \u00a0the respective subsidiary operates (\u201cFunctional \u00a0Currency\u201d). Each entity within the Group \u00a0determines its own functional currency. In \u00a0principle, the functional currencies of the sub- \u00a0sidiaries included in the consolidated financial \u00a0statements are their respective local curren- \u00a0cies. Since exceet Group AG, Switzerland, sold \u00a0its last remaining subsidiary by end of 2021 \u00a0and remained without operating business the \u00a0subsidiary exceet Group AG decided to change \u00a0its functional currency from Swiss Franc to \u00a0Euro in 2022. \u00a0\n
\n Transactions in foreign currencies are \u00a0 translated at the exchange rate of the func- \u00a0tional currency prevailing on the date of the \u00a0transaction. All resulting foreign exchange \u00a0differences are recognized in the consolidated \u00a0income statement. \u00a0\n
\n Monetary items denominated in foreign \u00a0 currencies are translated into the functional \u00a0currency at the exchange rate prevailing at the \u00a0balance sheet date. Exchange rate differences \u00a0are recorded in the consolidated income \u00a0statement. Non-monetary assets and liabilities \u00a0are translated at the historical rate. \u00a0\n
\n \n ",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForFunctionalCurrencyExplanatory",
"language": "en",
"entity": "scheme:391200TZVOLI3RYBWS74",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"esef-43351_2023": {
"value": "\n \n \n h SCOPE\u00a0OF \u00a0\n
\n \n CONSOLIDATION \u00a0\n
\n \n The following are the entities included in the \u00a0 parent\u2019s company scope of consolidation: \u00a0\n
\n \n \n
\n \n \n \n \n \n \n \n \n \n \n \n \n \n | Ref. | \n Company | \n Country | \n Year of acquisition / \ufb01rst time con- solidation | \n Segment | \n Activity | \n Directly controlled by (use numbers from 1st column) | \n Share in the capital | \n Share of the votes | \n
\n \n | 1 | \n H2APEX Group SCA | \n LUX | \n 2023 | \n C&O | \n Holding | \n N/A | \n N/A | \n N/A | \n
\n \n | 2 | \n exceet Holding S.\u00e0 r.l. | \n LUX | \n 2023 | \n Holding | \n Corporate | \n 1 | \n 100% | \n 100% | \n
\n \n | 3 | \n exceet Group AG | \n SUI | \n 2023 | \n Holding | \n Corporate | \n 2 | \n 100% | \n 100% | \n
\n \n | 4 | \n RLG Holding GmbH | \n GER | \n 2023 | \n Holding | \n Corporate | \n 1 | \n 100% | \n 100% | \n
\n \n | 5 | \n RLG GmbH & Co.KG | \n GER | \n 2023 | \n Holding | \n Corporate | \n 4 | \n 100% | \n 100% | \n
\n \n | 6 | \n Northern Hydrogen Proper- ties GmbH | \n GER | \n 2023 | \n Holding | \n Corporate | \n 5 | \n 100% | \n 100% | \n
\n \n | 7 | \n APEX CapitalGmbH | \n GER | \n 2023 | \n Holding | \n Corporate | \n 4 | \n 100% | \n 100% | \n
\n \n | 8 | \n APEX Nova Holding GmbH | \n GER | \n 2019 | \n Holding | \n Holding | \n 1 | \n 100% | \n 100% | \n
\n \n | 9 | \n HydroExceed GmbH | \n GER | \n 2022 | \n Storage | \n Production of pressure tanks | \n 8 | \n 100% | \n 100% | \n
\n \n | 10 | \n AKROS Energy GmbH | \n GER | \n 2020 | \n Storage | \n Development of chemical storage solutions | \n 8 | \n 100% | \n 100% | \n
\n \n | 11 | \n GHS 1 GmbH | \n GER | \n 2020 | \n Own Operations | \n Hydrogene Powerplant Laage | \n 8 | \n 100% | \n 100% | \n
\n \n | 12 | \n GHS 2 GmbH | \n GER | \n 2020 | \n Own Operations | \n Hydrogene Powerplant IPCEI | \n 8 | \n 100% | \n 100% | \n
\n \n | 13 | \n GHS 3 GmbH | \n GER | \n 2020 | \n Own Operations | \n Hydrogene Powerplant Laage (extention) | \n 8 | \n 100% | \n 100% | \n
\n \n | 14 | \n GHS 4 GmbH (*) | \n GER | \n 2023 | \n Own Operations | \n Hydrogene Powerplant Lubmin | \n 8 | \n 100% | \n 100% | \n
\n \n | 15 | \n APEX Energy GmbH | \n GER | \n 2006 | \n Project Developmet | \n Customer Projects | \n 8 | \n 100% | \n 100% | \n
\n \n | 16 | \n HYSENC Entwicklungsgesell- schaft mbH | \n GER | \n 2021 | \n Own Operations | \n Hydrogene Powerplant control software | \n 15 | \n 100% | \n 100% | \n
\n \n | 17 | \n Plant Engineering GmbH | \n GER | \n 2023 | \n Project Developmet | \n Customer Projects | \n 15 | \n 90% | \n 90% | \n
\n \n
\n
\n * Still registered as Titan 128.VVG GmbH (renamed after balance sheet date) \u00a0\n
\n \n \n The following are the changes the Group\u2019s scope \u00a0 of consolidation: \u00a0\n
\n \n \n \n
\n \n \n \n \n \n \n \n \n \n \n \n | Ref. | \n Ref. | \n Share in the capital | \n Share of the votes | \n Company | \n Share in the capital | \n Share of the votes | \n
\n \n | Year of acquisition / \ufb01rst time consolidation 2022 and before | \n | \n | \n | \n
\n \n | 9 | \n HydroExceed GmbH | \n 100% | \n 100% | \n HydroExceed GmbH | \n 86% | \n 86% | \n
\n \n | 10 | \n AKROS Energy GmbH | \n 100% | \n 100% | \n H2 Automations GmbH | \n 100% | \n 100% | \n
\n \n | 11 | \n GHS 1 GmbH | \n 100% | \n 100% | \n GHS 1 GmbH & Co. KG | \n 100% | \n 100% | \n
\n \n | 12 | \n GHS 2 GmbH | \n 100% | \n 100% | \n GHS 2\u00a0GmbH & Co. KG | \n 100% | \n 100% | \n
\n \n | 13 | \n GHS 3 GmbH | \n 100% | \n 100% | \n GHS Verwaltungs GmbH | \n 100% | \n 100% | \n
\n \n | 15 | \n APEX Energy GmbH | \n 100% | \n 100% | \n APEX Energy Teterow GmbH | \n 100% | \n 100% | \n
\n \n | 16 | \n HYSENC Entwicklungsgesellschaft mbH | \n 100% | \n 100% | \n HYSENC Entwicklungsgesellschaft mbH | \n 51% | \n 51% | \n
\n \n | Year of acquisition / \ufb01rst time consolidation 2023 | \n | \n | \n | \n
\n \n | 1 | \n H2APEX Group SCA | \n N/A | \n N/A | \n N/A | \n N/A | \n N/A | \n
\n \n | 2 | \n exceet Holding S.\u00e0 r.l. | \n 100% | \n 100% | \n N/A | \n N/A | \n N/A | \n
\n \n | 3 | \n exceet Group AG | \n 100% | \n 100% | \n N/A | \n N/A | \n N/A | \n
\n \n | 4 | \n RLG Holding GmbH | \n 100% | \n 100% | \n N/A | \n N/A | \n N/A | \n
\n \n | 5 | \n RLG GmbH & Co.KG | \n 100% | \n 100% | \n N/A | \n N/A | \n N/A | \n
\n \n | 6 | \n Northern Hydrogen Properties GmbH | \n 100% | \n 100% | \n N/A | \n N/A | \n N/A | \n
\n \n | 7 | \n APEX CapitalGmbH | \n 100% | \n 100% | \n N/A | \n N/A | \n N/A | \n
\n \n | 8 | \n APEX Nova Holding GmbH | \n 100% | \n 100% | \n N/A | \n N/A | \n N/A | \n
\n \n | 14 | \n GHS 4 GmbH | \n 100% | \n 100% | \n N/A | \n N/A | \n N/A | \n
\n \n | 17 | \n Plant Engineering GmbH | \n 90% | \n 90% | \n N/A | \n N/A | \n N/A | \n
\n \n
\n
\n a SCOPE\u00a0OF \u00a0\n
\n \n CONSOLIDATION \u00a0\n
\n \n \n Investments in subsidiaries are fully consoli- \u00a0 dated. These are entities over which H2APEX di- \u00a0rectly or indirectly exercises control.\u00a0The Group \u00a0controls an entity when the Group is exposed \u00a0to, or has rights to receive, variable returns as a \u00a0result of its involvement in it and has the ability \u00a0to in\ufb02uence such return through the power it \u00a0exercises over the entity. \u00a0\n
\n \n Group companies acquired during the year are \u00a0 included in the consolidation from the date on \u00a0which control over the acquired entity is trans- \u00a0ferred to the Group, and are excluded from the \u00a0consolidation as of the date the Group ceases tohave control over the entity. For the consolidatedentities, 100% of assets, liabilities, income and \u00a0expenses are included. Intercompany balances \u00a0and transactions are eliminated in full. \u00a0\n
\n \n The subsidiaries\u2019 accounting policies have \u00a0 been adapted to Group accounting policies for \u00a0transactions and other events in similar circum- \u00a0stances. \u00a0\n
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfBasisOfConsolidationExplanatory",
"language": "en",
"entity": "scheme:391200TZVOLI3RYBWS74",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"esef-43468_2023": {
"value": "\n \n
\n \n \n \n \n \n \n \n \n \n \n \n \n \n | Ref. | \n Company | \n Country | \n Year of acquisition / \ufb01rst time con- solidation | \n Segment | \n Activity | \n Directly controlled by (use numbers from 1st column) | \n Share in the capital | \n Share of the votes | \n
\n \n | 1 | \n H2APEX Group SCA | \n LUX | \n 2023 | \n C&O | \n Holding | \n N/A | \n N/A | \n N/A | \n
\n \n | 2 | \n exceet Holding S.\u00e0 r.l. | \n LUX | \n 2023 | \n Holding | \n Corporate | \n 1 | \n 100% | \n 100% | \n
\n \n | 3 | \n exceet Group AG | \n SUI | \n 2023 | \n Holding | \n Corporate | \n 2 | \n 100% | \n 100% | \n
\n \n | 4 | \n RLG Holding GmbH | \n GER | \n 2023 | \n Holding | \n Corporate | \n 1 | \n 100% | \n 100% | \n
\n \n | 5 | \n RLG GmbH & Co.KG | \n GER | \n 2023 | \n Holding | \n Corporate | \n 4 | \n 100% | \n 100% | \n
\n \n | 6 | \n Northern Hydrogen Proper- ties GmbH | \n GER | \n 2023 | \n Holding | \n Corporate | \n 5 | \n 100% | \n 100% | \n
\n \n | 7 | \n APEX CapitalGmbH | \n GER | \n 2023 | \n Holding | \n Corporate | \n 4 | \n 100% | \n 100% | \n
\n \n | 8 | \n APEX Nova Holding GmbH | \n GER | \n 2019 | \n Holding | \n Holding | \n 1 | \n 100% | \n 100% | \n
\n \n | 9 | \n HydroExceed GmbH | \n GER | \n 2022 | \n Storage | \n Production of pressure tanks | \n 8 | \n 100% | \n 100% | \n
\n \n | 10 | \n AKROS Energy GmbH | \n GER | \n 2020 | \n Storage | \n Development of chemical storage solutions | \n 8 | \n 100% | \n 100% | \n
\n \n | 11 | \n GHS 1 GmbH | \n GER | \n 2020 | \n Own Operations | \n Hydrogene Powerplant Laage | \n 8 | \n 100% | \n 100% | \n
\n \n | 12 | \n GHS 2 GmbH | \n GER | \n 2020 | \n Own Operations | \n Hydrogene Powerplant IPCEI | \n 8 | \n 100% | \n 100% | \n
\n \n | 13 | \n GHS 3 GmbH | \n GER | \n 2020 | \n Own Operations | \n Hydrogene Powerplant Laage (extention) | \n 8 | \n 100% | \n 100% | \n
\n \n | 14 | \n GHS 4 GmbH (*) | \n GER | \n 2023 | \n Own Operations | \n Hydrogene Powerplant Lubmin | \n 8 | \n 100% | \n 100% | \n
\n \n | 15 | \n APEX Energy GmbH | \n GER | \n 2006 | \n Project Developmet | \n Customer Projects | \n 8 | \n 100% | \n 100% | \n
\n \n | 16 | \n HYSENC Entwicklungsgesell- schaft mbH | \n GER | \n 2021 | \n Own Operations | \n Hydrogene Powerplant control software | \n 15 | \n 100% | \n 100% | \n
\n \n | 17 | \n Plant Engineering GmbH | \n GER | \n 2023 | \n Project Developmet | \n Customer Projects | \n 15 | \n 90% | \n 90% | \n
\n \n
\n
\n * Still registered as Titan 128.VVG GmbH (renamed after balance sheet date) \u00a0\n
\n \n \n
\n \n \n \n \n \n \n \n \n \n \n \n | Ref. | \n Ref. | \n Share in the capital | \n Share of the votes | \n Company | \n Share in the capital | \n Share of the votes | \n
\n \n | Year of acquisition / \ufb01rst time consolidation 2022 and before | \n | \n | \n | \n
\n \n | 9 | \n HydroExceed GmbH | \n 100% | \n 100% | \n HydroExceed GmbH | \n 86% | \n 86% | \n
\n \n | 10 | \n AKROS Energy GmbH | \n 100% | \n 100% | \n H2 Automations GmbH | \n 100% | \n 100% | \n
\n \n | 11 | \n GHS 1 GmbH | \n 100% | \n 100% | \n GHS 1 GmbH & Co. KG | \n 100% | \n 100% | \n
\n \n | 12 | \n GHS 2 GmbH | \n 100% | \n 100% | \n GHS 2\u00a0GmbH & Co. KG | \n 100% | \n 100% | \n
\n \n | 13 | \n GHS 3 GmbH | \n 100% | \n 100% | \n GHS Verwaltungs GmbH | \n 100% | \n 100% | \n
\n \n | 15 | \n APEX Energy GmbH | \n 100% | \n 100% | \n APEX Energy Teterow GmbH | \n 100% | \n 100% | \n
\n \n | 16 | \n HYSENC Entwicklungsgesellschaft mbH | \n 100% | \n 100% | \n HYSENC Entwicklungsgesellschaft mbH | \n 51% | \n 51% | \n
\n \n | Year of acquisition / \ufb01rst time consolidation 2023 | \n | \n | \n | \n
\n \n | 1 | \n H2APEX Group SCA | \n N/A | \n N/A | \n N/A | \n N/A | \n N/A | \n
\n \n | 2 | \n exceet Holding S.\u00e0 r.l. | \n 100% | \n 100% | \n N/A | \n N/A | \n N/A | \n
\n \n | 3 | \n exceet Group AG | \n 100% | \n 100% | \n N/A | \n N/A | \n N/A | \n
\n \n | 4 | \n RLG Holding GmbH | \n 100% | \n 100% | \n N/A | \n N/A | \n N/A | \n
\n \n | 5 | \n RLG GmbH & Co.KG | \n 100% | \n 100% | \n N/A | \n N/A | \n N/A | \n
\n \n | 6 | \n Northern Hydrogen Properties GmbH | \n 100% | \n 100% | \n N/A | \n N/A | \n N/A | \n
\n \n | 7 | \n APEX CapitalGmbH | \n 100% | \n 100% | \n N/A | \n N/A | \n N/A | \n
\n \n | 8 | \n APEX Nova Holding GmbH | \n 100% | \n 100% | \n N/A | \n N/A | \n N/A | \n
\n \n | 14 | \n GHS 4 GmbH | \n 100% | \n 100% | \n N/A | \n N/A | \n N/A | \n
\n \n | 17 | \n Plant Engineering GmbH | \n 90% | \n 90% | \n N/A | \n N/A | \n N/A | \n
\n \n
\n
\n
\n \n \n \n \n \n \n \n \n \n \n \n | Ref. | \n Ref. | \n Share in the capital | \n Share of the votes | \n Company | \n Share in the capital | \n Share of the votes | \n
\n \n | Year of acquisition / \ufb01rst time consolidation 2022 and before | \n | \n | \n | \n
\n \n | 9 | \n HydroExceed GmbH | \n 100% | \n 100% | \n HydroExceed GmbH | \n 86% | \n 86% | \n
\n \n | 10 | \n AKROS Energy GmbH | \n 100% | \n 100% | \n H2 Automations GmbH | \n 100% | \n 100% | \n
\n \n | 11 | \n GHS 1 GmbH | \n 100% | \n 100% | \n GHS 1 GmbH & Co. KG | \n 100% | \n 100% | \n
\n \n | 12 | \n GHS 2 GmbH | \n 100% | \n 100% | \n GHS 2\u00a0GmbH & Co. KG | \n 100% | \n 100% | \n
\n \n | 13 | \n GHS 3 GmbH | \n 100% | \n 100% | \n GHS Verwaltungs GmbH | \n 100% | \n 100% | \n
\n \n | 15 | \n APEX Energy GmbH | \n 100% | \n 100% | \n APEX Energy Teterow GmbH | \n 100% | \n 100% | \n
\n \n | 16 | \n HYSENC Entwicklungsgesellschaft mbH | \n 100% | \n 100% | \n HYSENC Entwicklungsgesellschaft mbH | \n 51% | \n 51% | \n
\n \n | Year of acquisition / \ufb01rst time consolidation 2023 | \n | \n | \n | \n
\n \n | 1 | \n H2APEX Group SCA | \n N/A | \n N/A | \n N/A | \n N/A | \n N/A | \n
\n \n | 2 | \n exceet Holding S.\u00e0 r.l. | \n 100% | \n 100% | \n N/A | \n N/A | \n N/A | \n
\n \n | 3 | \n exceet Group AG | \n 100% | \n 100% | \n N/A | \n N/A | \n N/A | \n
\n \n | 4 | \n RLG Holding GmbH | \n 100% | \n 100% | \n N/A | \n N/A | \n N/A | \n
\n \n | 5 | \n RLG GmbH & Co.KG | \n 100% | \n 100% | \n N/A | \n N/A | \n N/A | \n
\n \n | 6 | \n Northern Hydrogen Properties GmbH | \n 100% | \n 100% | \n N/A | \n N/A | \n N/A | \n
\n \n | 7 | \n APEX CapitalGmbH | \n 100% | \n 100% | \n N/A | \n N/A | \n N/A | \n
\n \n | 8 | \n APEX Nova Holding GmbH | \n 100% | \n 100% | \n N/A | \n N/A | \n N/A | \n
\n \n | 14 | \n GHS 4 GmbH | \n 100% | \n 100% | \n N/A | \n N/A | \n N/A | \n
\n \n | 17 | \n Plant Engineering GmbH | \n 90% | \n 90% | \n N/A | \n N/A | \n N/A | \n
\n \n
\n
\n i\n
\n ACQUISITION OF BUSINESS \u00a0\n
\n i1 REVERSE\u00a0ACQUISITION \u00a0\n
\n OF EXCEET GROUP S.C.A. \u00a0\n
\n The merger agreement between exceet Group \u00a0 S.C.A. (as from 18 January 2024: \u201cH2APEX \u00a0Group S.C.A.\u201d) and Apex Nova Holding GmbH \u00a0has been accounted as reverse acquisition:\u00a0On\u00a019 January 2023, exceet Group S.C.A. acquired \u00a0100 % of the voting shares of APEX Nova Hold-ing GmbH, an unlisted company with registeredof\ufb01ce in Rostock, Germany, which is a one of \u00a0the leading German providers for green hydro- \u00a0gen projects and business. The objective of \u00a0the acquisition is to participate in the expected \u00a0growth for this market. \u00a0\n
\n Under the merger agreement, exceet Group \u00a0 S.C.A. agreed (i) to acquire 20.8% of the\u00a0APEX \u00a0shares for a cash consideration in the amount \u00a0of EUR 24,999,802 and (ii) to exchange the \u00a0remaining 79.2% shares in Apex for shares \u00a0in exceet by way of a contribution in kind \u00a0(the \u201cTransaction\u201d). For this purpose, exceet \u00a0Group S.C.A. agreed to utilise its authorised \u00a0capital and increase its share capital from \u00a0EUR 311,960.18 by EUR 252,424.73 to EUR \u00a0564,384.91 by issuing 16,285,467 new shares \u00a0to the shareholders of APEX. \u00a0\n
\n Based on this Transaction, exceet Group S.C.A. has been identified as acquired company fromaccounting perspective (\u201caccounting acquiree\u201d)and the legal subsidiary APEX Nova Holding \u00a0GmbH is identified as accounting acquirer as \u00a0by exchanging shares, APEX Nova Holding \u00a0GmbH obtained the control over exceet Group \u00a0S.C.A.. We considered the fact that the former \u00a0shareholders of APEX Nova Holding GmbH \u00a0received the largest portion of the voting rights \u00a0in the new combined entity and that the relative \u00a0\n
\n size of APEX Nova Holding GmbH is signifi- \u00a0 cantly greater than that of exceet Group S.C.A. \u00a0In addition, members of the management\u00a0of \u00a0APEX Nova Holding GmbH were nominated to \u00a0the governing body of the combined entity as \u00a0well the operative management is led by the \u00a0former management of APEX Nova Holding \u00a0GmbH. \u00a0\n
The partial consideration transfer in cash does \u00a0 not to prevent the accounting treatment as \u00a0reverse acquisition as the 79.2% of shares in \u00a0Apex were exchanged against shares exceet \u00a0Group S.C.A. which is the majority of the\u00a0con- \u00a0sideration of this Transaction. \u00a0\n
\n The accounting acquiree exceet Group S.C.A. \u00a0 is not considered to be a business in accord- \u00a0ance with IFRS 3.B7 as its activities mainly \u00a0consisted of managing cash balances as part \u00a0of its holding activity (\u2018listed shell company\u2019). \u00a0Therefore, IFRS 3 does not apply and following \u00a0the IFRIC March 2023 agenda decision,\u00a0man- \u00a0agement applied IAS 8 \u201cAccounting Policies, \u00a0Changes in Accounting Policies and Errors\u201d to \u00a0define this Transaction as a reverse acquisition \u00a0in analogy of IFRS 3 and in accordance with \u00a0IFRS 10. The reverse acquisition is accounted \u00a0for using the acquisition method. The transac- \u00a0tion price is allocated to the identifiable as- \u00a0sets and liabilities of the listed shell company \u00a0on the basis of their fair values at the date of \u00a0purchase. Any excess of the transaction price \u00a0over the fair value of the assets and liabilities \u00a0of the listed shell company represents a cost \u00a0for obtaining a listing. This is accounted for as \u00a0an expense as it does not represent an asset \u00a0under IFRS, and no goodwill is recognised. \u00a0\n
\n For purposes of the Transaction, exceet Group \u00a0 S.C.A. was valued with its net cash position \u00a0of approx. EUR 117,100,000 (corresponding \u00a0to EUR 5.83 per exceet share) and the APEX \u00a0Group with an equity value of approx. EUR \u00a0120,000,000. Acquisition related expenses \u00a0amounted to KEUR 2,993 (accrued already in \u00a02022) and were fully expensed as other operat- \u00a0ing expenses. Share issuance costs of KEUR \u00a0307 were recorded in equity. \u00a0\n
\n Additionally, this Transaction was completed \u00a0 by a share-based payment transaction. The \u00a0equity-settled transaction\u00a0has been measured \u00a0at fair value of the services provided by Lien \u00a0Management & Holding GmbH, which is\u00a0con- \u00a0trolled by Roland Lienau, Chairman of the su- \u00a0pervisory board, that received in July 2023 fully \u00a0vested 660,000 stock options at an exercise \u00a0price of EUR 5.50. This was a compensation \u00a0for his contribution to the business combina- \u00a0tion, in particular deal sourcing and assistance \u00a0throughout M&A process. \u00a0\n
\n From the date of the acquisition, the former \u00a0 exceet Group S.C.A. contributed KEUR 0 to the \u00a0revenues and expenses of KEUR 4,169 to the \u00a0EBITDA of the Group. \u00a0\n
\n \n i2 BUSINESS\u00a0COMBINATIONS \u00a0\n
\n \n
\n \n \n \n \n \n \n \n | (in EUR 1,000) | \n APEX Capital and RLG GmbH & Co.KG | \n Plant Engineering GmbH | \n
\n \n | Current assets | \n | \n | \n
\n \n | Cash and cash equivalents | \n 10 | \n 185 | \n
\n \n | Trade receivables | \n 32 | \n 249 | \n
\n \n | Contracted assets | \n 0 | \n 105 | \n
\n \n | Prepaid expenses, accrued income, other assets | \n 169 | \n 272 | \n
\n \n | Total current assets | \n 210 | \n 811 | \n
\n \n | Non-current assets | \n | \n | \n
\n \n | Property, plants & equipment | \n 12,730 | \n 64 | \n
\n \n | Right of use assets | \n 0 | \n 0 | \n
\n \n | Intangible assets | \n 0 | \n 1 | \n
\n \n | Total non-current assets | \n 12,730 | \n 65 | \n
\n \n | Total Assets | \n 12,940 | \n 876 | \n
\n \n | Current liabilities | \n | \n | \n
\n \n | Trade payables | \n 918 | \n 41 | \n
\n \n | Accrued expenses, deferred income and other liabilities | \n 12,021 | \n 19 | \n
\n \n | Provisions | \n 0 | \n 160 | \n
\n \n | Total current liabilities | \n 12,940 | \n 220 | \n
\n \n | Non-current liabilities | \n | \n | \n
\n \n | Contract liabilities | \n 0 | \n 31 | \n
\n \n | contract liabilities | \n 0 | \n 31 | \n
\n \n | Total liabilities | \n 12,939 | \n 250 | \n
\n \n | Total identi\ufb01able net assets at fair value | \n 1 | \n 625 | \n
\n \n | 90% Plant Engineering GmbH | \n | \n 563 | \n
\n \n | Goodwill arising on the acquisition | \n 0 | \n 3,746 | \n
\n \n | Purchase consideration transferred | \n 1 | \n 4,309 | \n
\n \n | Analysis of cash \ufb02ows from the acquisition | \n | \n | \n
\n \n | Cash acquired with the subsidiary | \n 10 | \n 185 | \n
\n \n | Cash paid | \n 1 | \n 4,309 | \n
\n \n | Net cash in\ufb02ow (included in Cash \ufb02ow from investing activities) | \n 9 | \n (4,124) | \n
\n \n
\n
\n APEX CAPITAL GMBH AND RLG \u00a0\n
\n GMBH & CO. KG (RLG GROUP): \u00a0\n
\n The acquisition is accounted for using the \u00a0 acquisition method. Goodwill is recognised \u00a0as an asset from the acquisition date and is \u00a0measured as the excess of the consideration \u00a0transferred over the interest in the net fair valueof the identi\ufb01able net assets acquired. \u00a0\n
\n The \u201ctrade receivables\u201d relate to operational \u00a0 business as property company. \u00a0\n
\n The position \u201cprepaid expenses, accrued \u00a0 income and other assets\u201d mainly comprises \u00a0accruals associated with the ownership and \u00a0leasing of property. \u00a0\n
\n The position \u201cproperty, plant and equipment\u201d \u00a0 includes land in an amount of KEUR 5,441 and \u00a0buildings in an amount of KEUR 7,289. The \u00a0difference between acquisition costs and book \u00a0value of net assets acquired amounted to \u00a0KEUR 473 and has been allocated to the book \u00a0value of land to come to the fair value. \u00a0\n
\n \u201cTrade payables\u201d include liabilities from \u00a0 operational business. \u00a0\n
\n \u201cAccrued expenses, deferred income and other \u00a0 liabilities include operative costs, which refer to \u00a02022 and have not been paid at year end 2022. \u00a0\n
\n From the date of the acquisition, the RLG Group \u00a0 contributed KEUR 0 to the revenues and KEUR \u00a0minus 36 to the EBITDA of the Group. \u00a0\n
\n Acquisition-related costs of EUR 0 were \u00a0 recorded as other operating expenses\u00a0in \u00a0financial year 2023. \u00a0\n
\n Acquisition of the APEX Capital GmbH and RLG \u00a0 GmbH & Co. KG \u00a0\n
\n On January 19, 2023, exceet Group\u00a0SCA \u00a0 acquired the shares in APEX Capital GmbH and \u00a0RLG GmbH & Co. KG. RLG GmbH & Co. KG \u00a0business is to invest in properties, which are \u00a0rented to affiliates or third parties companies. \u00a0APEX Capital GmbH is the General Partner of \u00a0RLG GmbH & Co KG. \u00a0\n
\n The purchase price allocation has been defined \u00a0 still as preliminary. \u00a0\n
\n The consideration transferred for 100% in both \u00a0 companies amounted to EUR 1,402. \u00a0\n
\n PLANT ENGINEERING GMBH: \u00a0\n
\n The acquisition is accounted for using the \u00a0 acquisition method. Goodwill is recognised \u00a0as an asset from the acquisition date and is \u00a0measured as the excess of the consideration \u00a0transferred over the interest in the fair value of \u00a0the identi\ufb01able net assets acquired. \u00a0\n
\n The \u201ctrade receivables\u201d with KEUR 249 refer to \u00a0 operational business. \u00a0\n
\n The position \u201cprepaid expenses, accrued\u00a0in- \u00a0 come and other assets\u201d with KEUR 272 mainly \u00a0comprises clearing accounts associated with \u00a0the former main shareholder and tax receiva- \u00a0bles. \u00a0\n
\n Contract assets with KEUR 105 include per- \u00a0 formed work related to customer contracts \u00a0which are not yet invoiced. The contracted \u00a0assets are valued with fair value. \u00a0\n
\n The position \u201cproperty, plant and equipment\u201d \u00a0 includes KEUR 64 for office and IT\u00a0equipment \u00a0and intangibles, KEUR 1 for software licenses. \u00a0The book values represent the fair values. \u00a0\n
\n \u201cTrade payables\u201d include KEUR 41 from \u00a0 operations. \u00a0\n
\n \u201cAccrued expenses, deferred income and \u00a0 other liabilities\u201d with KEUR 19 mainly include \u00a0receivables due to VAT and operative costs, \u00a0which refer to 2022 and have been not paid yet. \u00a0\n
\n \u201cProvisions\u201d with KEUR 160 are due to expens- \u00a0 es which refer to 2022 and have been not paid \u00a0yet. \u00a0\n
\n From the date of the acquisition, Plant Engi- \u00a0 neering GmbH contributed KEUR 166 to\u00a0the \u00a0revenues and minus KEUR 130 to the EBITDA. \u00a0Since Plant Engineering GmbH has been \u00a0already consolidated since January 2023, the \u00a0revenues would have been increased by KEUR \u00a03,085 and the EBITDA impact would have been \u00a0minus KEUR 640. \u00a0\n
\n Acquisition-related costs of EUR 109 thousand \u00a0 were recorded as other operating expenses in \u00a0financial year 2023. \u00a0\n
\n Acquisition of the Plant Engineering GmbH \u00a0 With share purchase agreement as of May 16, \u00a02023, APEX Energy GmbH acquired\u00a090% of the \u00a0shares in Plant Engineering GmbH, Leutesdorf. \u00a0Plant engineering is an engineering and\u00a0con- \u00a0sulting company skilled in the development and \u00a0the design of energy plants. \u00a0\n
\n The purchase price allocation is preliminary. \u00a0 Currently, the difference between consideration \u00a0paid and book value of net assets is accounted \u00a0as goodwill. Especially the valuation of intan- \u00a0gible assets as customer list, technology and \u00a0backlog1 is still in progress. \u00a0\n
\n The consideration transferred for 90% amount- \u00a0 ed to EUR 4,308 thousand. \u00a0\n
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfBusinessCombinationsExplanatory",
"language": "en",
"entity": "scheme:391200TZVOLI3RYBWS74",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"esef-43466_2023": {
"value": "\n Additionally, this Transaction was completed \u00a0 by a share-based payment transaction. The \u00a0equity-settled transaction\u00a0has been measured \u00a0at fair value of the services provided by Lien \u00a0Management & Holding GmbH, which is\u00a0con- \u00a0trolled by Roland Lienau, Chairman of the su- \u00a0pervisory board, that received in July 2023 fully \u00a0vested 660,000 stock options at an exercise \u00a0price of EUR 5.50. This was a compensation \u00a0for his contribution to the business combina- \u00a0tion, in particular deal sourcing and assistance \u00a0throughout M&A process. \u00a0\n
\n \n Share-Based Payments \u00a0\n
\n \n On the Annual General Meeting on 2 May 2023 \u00a0 the shareholders approved a Stock Option \u00a0Program amounting to 3,640,000 shares of\u00a0the \u00a0Company, with each Stock Option correspond- \u00a0ing to one share. \u00a0\n
\n \n As of 31 December 2023, 2,200,000 of Stock \u00a0 Options have been already granted as follows: \u00a0\n
\n \n \u2022\n
\n \n 1,000,000 Stock Options have been granted \u00a0 to the Chairman of the Supervisory Board \u00a0(see Note 15). \u00a0\n
\n \n \u2022\n
\n \n 1,200,000 Stock Options have been granted \u00a0 to key employees. The Exercise Price for \u00a0each of these Options shall be EUR 5.50. \u00a0These Options shall be considered vested \u00a0over a four-year period (1/16 for each full \u00a0quarter). \u00a0\n
\n \n As consideration for Roland Lienau\u2019s (Chairman \u00a0 of the Supervisory Board) contribution to the \u00a0business combination between the Company \u00a0and the German APEX Group (in particular, the \u00a0deal sourcing, relationship management, sup- \u00a0port of the key negotiations and your laborious \u00a0assistance throughout the entire M&A process), \u00a0660,000 Stock Options have been granted to \u00a0Lien HoldCo (related party to Roland Lienau). \u00a0The Exercise Price for each of these Options \u00a0shall be EUR 5.50. These Stock Options are fully \u00a0vested as of the acceptance and must be exer- \u00a0cised until 31 December 2027 (\u201cExpiry Date\u201d). \u00a0\n
\n \n In addition, as consideration for Roland Lienau\u2019s \u00a0 continuing to hold the of\ufb01ce of chairman of \u00a0the Supervisory Board, 340,000 Stock Options \u00a0have been granted to Lien HoldCo, too. The \u00a0Exercise Price for each of these Options shall \u00a0be EUR 5.50. These Options shall be considered \u00a0fully vested on 31 December 2025 (accelerated \u00a0vesting) and cannot be exercised before 15 July \u00a02024. \u00a0\n
\n \n \n The expenses recognized for stock option \u00a0 services during the year is shown in the \u00a0following table: \u00a0\n
\n \n
\n \n \n \n \n \n \n \n | (in EUR 1,000) | \n 2023 | \n 2022 | \n
\n \n | Expenses arising from equity-settled transactions | \n 1,946 | \n 0 | \n
\n \n
\n
\n There were no cancellations of modi\ufb01cations to the awards in 2023. \u00a0\n
\n \n The following table illustrates the number and \u00a0 exercise prices of stock options granted, the \u00a0movements in share options during the year: \u00a0\n
\n \n
\n \n \n \n \n \n \n \n \n \n | \n 2023 | \n 2023 | \n 2022 | \n 2022 | \n
\n \n | (in EUR) | \n Number | \n excercise price | \n Number | \n excercise price | \n
\n \n | Outstanding at 1 January | \n 0 | \n 5.50 | \n 0 | \n 0 | \n
\n \n | Granted during the year | \n 2,400,000 | \n 5.50 | \n 0 | \n 0 | \n
\n \n | Forfeited during the year | \n 0 | \n 5.50 | \n 0 | \n 0 | \n
\n \n | Exercised during the year | \n 0 | \n 5.50 | \n 0 | \n 0 | \n
\n \n | Expired during the year | \n 0 | \n 5.50 | \n 0 | \n 0 | \n
\n \n | Outstanding at 31 December | \n 2,400,000 | \n 5.50 | \n 0 | \n 0 | \n
\n \n | Exercisable at 31 December | \n 660,000 | \n 5.50 | \n 0 | \n 0 | \n
\n \n
\n
\n The weighted average remaining contractual \u00a0 life for the stock options outstanding at \u00a031 December 2023 was 2.6 years. \u00a0\n
\n \n The exercise prices for all outstanding stock \u00a0 options at the end of the year was EUR 5.50. \u00a0\n
\n \n \n The following table lists the inputs to the model \u00a0 used: \u00a0\n
\n \n
\n \n \n \n \n \n \n | \n Model inputs | \n
\n \n | Weighted average fair values at the measurement date | \n 1.81 | \n
\n \n | Dividend yield (%) | \n 0% | \n
\n \n | Expected volatility (%) | \n 40% | \n
\n \n | Risk-free interest rate (%) | \n 3.29% | \n
\n \n | Expected life of options (years) | \n 4 | \n
\n \n | Share Price Grant Date | \n 6.65 | \n
\n \n | Model used | \n Binomial | \n
\n \n | weighted average remaining contractual life | \n 2.66 | \n
\n \n
\n
The expected life of stock options is based on \u00a0 current expectations and is not necessarily \u00a0indicative of exercise patterns that may occur. \u00a0The expected volatility re\ufb02ects the assumption \u00a0that the historical volatility over a period similar \u00a0to the life of the options is indicative of future \u00a0trends, which may not necessarily be the actual \u00a0outcome. \u00a0\n
\n \n ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfSharebasedPaymentArrangementsExplanatory",
"language": "en",
"entity": "scheme:391200TZVOLI3RYBWS74",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"esef-43560_2023": {
"value": "\n \n \n a SCOPE\u00a0OF \u00a0\n
\n \n CONSOLIDATION \u00a0\n
\n \n \n \n Investments in subsidiaries are fully consoli- \u00a0 dated. These are entities over which H2APEX di- \u00a0rectly or indirectly exercises control.\u00a0The Group \u00a0controls an entity when the Group is exposed \u00a0to, or has rights to receive, variable returns as a \u00a0result of its involvement in it and has the ability \u00a0to in\ufb02uence such return through the power it \u00a0exercises over the entity. \u00a0\n
\n \n Group companies acquired during the year are \u00a0 included in the consolidation from the date on \u00a0which control over the acquired entity is trans- \u00a0ferred to the Group, and are excluded from the \u00a0consolidation as of the date the Group ceases tohave control over the entity. For the consolidatedentities, 100% of assets, liabilities, income and \u00a0expenses are included. Intercompany balances \u00a0and transactions are eliminated in full. \u00a0\n
\n \n \n \n \n When a Group company loses control of a Group company, their assets and liabilities and any \u00a0minority interest that may be held are derecog- \u00a0nized. The resulting gains or losses are recog- \u00a0nized in the consolidated statement of compre- \u00a0hensive income. Shareholdings in subsidiaries \u00a0for which control is no longer held are measuredat fair value on the date on which control was \u00a0lost. Gains or losses on purchases of minority \u00a0interests in companies in which a controlling \u00a0interest is held, as well as sales of shareholdingswithout loss of control, are charged or credited \u00a0to reserves. \u00a0\n
\n \n \n The subsidiaries\u2019 accounting policies have \u00a0 been adapted to Group accounting policies for \u00a0transactions and other events in similar circum- \u00a0stances. \u00a0\n
\n \n ",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForSubsidiariesExplanatory",
"language": "en",
"entity": "scheme:391200TZVOLI3RYBWS74",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"esef-43541_2023": {
"value": "\n \n When a Group company loses control of a Group company, their assets and liabilities and any \u00a0minority interest that may be held are derecog- \u00a0nized. The resulting gains or losses are recog- \u00a0nized in the consolidated statement of compre- \u00a0hensive income. Shareholdings in subsidiaries \u00a0for which control is no longer held are measuredat fair value on the date on which control was \u00a0lost. Gains or losses on purchases of minority \u00a0interests in companies in which a controlling \u00a0interest is held, as well as sales of shareholdingswithout loss of control, are charged or credited \u00a0to reserves. \u00a0\n
\n ",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleAndDiscontinuedOperationsExplanatory",
"language": "en",
"entity": "scheme:391200TZVOLI3RYBWS74",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"esef-43479_2023": {
"value": "\n \n \n b BUSINESS \u00a0\n
\n \n COMBINATIONS \u00a0\n
\n \n \n \n The Group accounts for business combinations \u00a0 under the acquisition method when the acquired \u00a0set of activities and assets meets the de\ufb01nition \u00a0of a business and control is transferred to the \u00a0Group. \u00a0\n
\n \n \n \n The cost of an acquisition is measured as the \u00a0 aggregate of the consideration transferred, \u00a0including contingent consideration, measured at \u00a0acquisition date fair value and the amount of any \u00a0non-controlling interest in the acquiree. Acquisi- \u00a0tion costs incurred are expensed and included \u00a0in other operating expense in the consolidated \u00a0income statement. \u00a0\n
\n \n \n \n When the Group acquires a business, it assess- \u00a0 es the \ufb01nancial assets and liabilities assumed \u00a0for appropriate classi\ufb01cation and designation in \u00a0accordance with the contractual terms, econom- \u00a0ic circumstances and pertinent conditions as at \u00a0the acquisition date. If the initial accounting for a \u00a0business combination is incomplete by the end \u00a0of the reporting period in which the combination \u00a0occurs, the Group reports in its consolidated \u00a0\ufb01nancial statements provisional amounts for the \u00a0items for which the accounting is incomplete. \u00a0\n
\n \n \n \n \n The Group recognizes the assets acquired, the \u00a0 liabilities assumed and any non-controlling \u00a0interest at their acquisition-date fair value. The \u00a0excess, if any, between the business combina- \u00a0tion cost, plus the value given to non-controlling \u00a0interests, and the value of net assets acquired \u00a0and liabilities assumed, is recognized as good- \u00a0will. \u00a0\n
\n \n \n \n \n \n Goodwill is carried at cost less accumulated \u00a0 impairment losses, if any. The Group tests good- \u00a0will for impairment at least annually and when- \u00a0ever there are indications that goodwill may be \u00a0impaired. Goodwill is allocated to the cash-gen- \u00a0erating units. Such units represent the smallest \u00a0groups of assets that generate cash in\ufb02ows \u00a0from continuing use that are largely independent \u00a0of the cash \ufb02ows of other assets or CGUs. \u00a0\n
\n \n \n \n \n In a reverse acquisition, the company issuing \u00a0 securities (the legal acquirer) is identi\ufb01ed as the \u00a0acquired company for accounting purposes. Theentity whose equity shares were acquired (the \u00a0legally acquired entity) must be the acquirer for \u00a0accounting purposes in order for this transac- \u00a0tion to be considered a reverse acquisition. \u00a0\n
\n \n In a reverse business acquisition, the balance \u00a0 sheet acquirer generally does not spend any \u00a0consideration for the acquired company. In- \u00a0stead, the company acquired on the balance \u00a0sheet usually issues its equity shares to the \u00a0owners of the balance sheet acquirer. \u00a0\n
\n \n The consolidated \ufb01nancial statements show a \u00a0 continuation of the \ufb01nancial statements of the \u00a0legal subsidiary with the exception of the capitalstructure. Consolidated \ufb01nancial statements \u00a0prepared after a reverse company acquisition \u00a0re\ufb02ect the equity of the legal parent company \u00a0(the company acquired on the balance sheet). \u00a0Comparative information presented in these \u00a0consolidated \ufb01nancial statements is also ad- \u00a0justed retrospectively to re\ufb02ect the legal equity \u00a0of the legal parent (acquired entity). \u00a0\n
\n \n In addition, it applies that: \u00a0\n
\n \n \u2022\n
\n \n the assets and liabilities of the legal sub- \u00a0 sidiary (the balance sheet acquirer) were \u00a0recognized and valued at their book values \u00a0valid before the merger; \u00a0\n
\n \n \u2022\n
\n \n the assets and liabilities of the legal par- \u00a0 ent company (the acquired company) have \u00a0been recognized and measured in accord- \u00a0ance with this IFRS. \u00a0\n
\n \n ",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForBusinessCombinationsExplanatory",
"language": "en",
"entity": "scheme:391200TZVOLI3RYBWS74",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"esef-43480_2023": {
"value": "\n \n b BUSINESS \u00a0\n
\n \n COMBINATIONS \u00a0\n
\n \n \n \n The Group accounts for business combinations \u00a0 under the acquisition method when the acquired \u00a0set of activities and assets meets the de\ufb01nition \u00a0of a business and control is transferred to the \u00a0Group. \u00a0\n
\n \n \n \n The cost of an acquisition is measured as the \u00a0 aggregate of the consideration transferred, \u00a0including contingent consideration, measured at \u00a0acquisition date fair value and the amount of any \u00a0non-controlling interest in the acquiree. Acquisi- \u00a0tion costs incurred are expensed and included \u00a0in other operating expense in the consolidated \u00a0income statement. \u00a0\n
\n \n \n \n When the Group acquires a business, it assess- \u00a0 es the \ufb01nancial assets and liabilities assumed \u00a0for appropriate classi\ufb01cation and designation in \u00a0accordance with the contractual terms, econom- \u00a0ic circumstances and pertinent conditions as at \u00a0the acquisition date. If the initial accounting for a \u00a0business combination is incomplete by the end \u00a0of the reporting period in which the combination \u00a0occurs, the Group reports in its consolidated \u00a0\ufb01nancial statements provisional amounts for the \u00a0items for which the accounting is incomplete. \u00a0\n
\n \n \n \n \n The Group recognizes the assets acquired, the \u00a0 liabilities assumed and any non-controlling \u00a0interest at their acquisition-date fair value. The \u00a0excess, if any, between the business combina- \u00a0tion cost, plus the value given to non-controlling \u00a0interests, and the value of net assets acquired \u00a0and liabilities assumed, is recognized as good- \u00a0will. \u00a0\n
\n \n \n \n \n \n Goodwill is carried at cost less accumulated \u00a0 impairment losses, if any. The Group tests good- \u00a0will for impairment at least annually and when- \u00a0ever there are indications that goodwill may be \u00a0impaired. Goodwill is allocated to the cash-gen- \u00a0erating units. Such units represent the smallest \u00a0groups of assets that generate cash in\ufb02ows \u00a0from continuing use that are largely independent \u00a0of the cash \ufb02ows of other assets or CGUs. \u00a0\n
\n \n \n \n \n In a reverse acquisition, the company issuing \u00a0 securities (the legal acquirer) is identi\ufb01ed as the \u00a0acquired company for accounting purposes. Theentity whose equity shares were acquired (the \u00a0legally acquired entity) must be the acquirer for \u00a0accounting purposes in order for this transac- \u00a0tion to be considered a reverse acquisition. \u00a0\n
\n \n In a reverse business acquisition, the balance \u00a0 sheet acquirer generally does not spend any \u00a0consideration for the acquired company. In- \u00a0stead, the company acquired on the balance \u00a0sheet usually issues its equity shares to the \u00a0owners of the balance sheet acquirer. \u00a0\n
\n \n The consolidated \ufb01nancial statements show a \u00a0 continuation of the \ufb01nancial statements of the \u00a0legal subsidiary with the exception of the capitalstructure. Consolidated \ufb01nancial statements \u00a0prepared after a reverse company acquisition \u00a0re\ufb02ect the equity of the legal parent company \u00a0(the company acquired on the balance sheet). \u00a0Comparative information presented in these \u00a0consolidated \ufb01nancial statements is also ad- \u00a0justed retrospectively to re\ufb02ect the legal equity \u00a0of the legal parent (acquired entity). \u00a0\n
\n \n In addition, it applies that: \u00a0\n
\n \n \u2022\n
\n \n the assets and liabilities of the legal sub- \u00a0 sidiary (the balance sheet acquirer) were \u00a0recognized and valued at their book values \u00a0valid before the merger; \u00a0\n
\n \n \u2022\n
\n \n the assets and liabilities of the legal par- \u00a0 ent company (the acquired company) have \u00a0been recognized and measured in accord- \u00a0ance with this IFRS. \u00a0\n
\n ",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForBusinessCombinationsAndGoodwillExplanatory",
"language": "en",
"entity": "scheme:391200TZVOLI3RYBWS74",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"esef-43484_2023": {
"value": "\n \n \n The cost of an acquisition is measured as the \u00a0 aggregate of the consideration transferred, \u00a0including contingent consideration, measured at \u00a0acquisition date fair value and the amount of any \u00a0non-controlling interest in the acquiree. Acquisi- \u00a0tion costs incurred are expensed and included \u00a0in other operating expense in the consolidated \u00a0income statement. \u00a0\n
\n \n \n \n Contingent liabilities are possible obligations \u00a0 arising from past events and whose existence \u00a0will be confirmed only upon the occurrence or \u00a0non-occurrence of one or more uncertain fu- \u00a0ture events not wholly within the control of the \u00a0Group. Contingent liabilities are not recognizedbut only disclosed in the notes to the consoli- \u00a0dated financial statements. \u00a0\n
\n ",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForContingentLiabilitiesAndContingentAssetsExplanatory",
"language": "en",
"entity": "scheme:391200TZVOLI3RYBWS74",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"esef-43503_2023": {
"value": "\n \n The cost of an acquisition is measured as the \u00a0 aggregate of the consideration transferred, \u00a0including contingent consideration, measured at \u00a0acquisition date fair value and the amount of any \u00a0non-controlling interest in the acquiree. Acquisi- \u00a0tion costs incurred are expensed and included \u00a0in other operating expense in the consolidated \u00a0income statement. \u00a0\n
\n \n Payments associated with short-term leases \u00a0\n \n (lease term of 12 month or less) and leases of \u00a0\n \n low-value assets (below EUR 5,000) are recog- \u00a0\n \n nized on a straight-line basis as an expense in \u00a0\n \n pro\ufb01t or loss. \u00a0 \n \n \n These assets are initially measured at fair \u00a0 value, plus any transaction costs, and then sub- \u00a0sequently at amortized cost. The interest ac- \u00a0crued is taken to the consolidated statement of \u00a0comprehensive income applying the effectiveinterest method. Nonetheless, financial assetsfalling due one year or less without a contrac-tual interest rate are initially and subsequentlymeasured at their nominal amount, if the effectof upgrading the cash flows is insignificant. \u00a0\n
\n \n \n \n (iii) Write-off policy \u00a0\n
\n \n \n \n The group writes off a financial asset when \u00a0 there is information indicating that the debtor \u00a0is in severe financial difficulty and there is no \u00a0realistic prospect of recovery, e.g. when the \u00a0debtor has been placed under liquidation or hasentered into bankruptcy proceedings, or in the \u00a0case of trade receivables, when the amounts \u00a0are over two years past due, whichever oc- \u00a0curs sooner. Financial assets written off may \u00a0still be subject to enforcement activities underthe group\u2019s recovery procedures, taking into \u00a0account legal advice where appropriate. Any re- \u00a0coveries made are recognised in profit or loss.\n
\n \n \n \n Impairment losses and reversals of impair- \u00a0 ment losses on trade receivables and contractassets are recognized in depreciation, amortisa- \u00a0tion and impairment expenses in the consoli-dated statement of comprehensive income.Impairment losses and reversals of impairmentlosses on other financial assets at amortized \u00a0cost are recognized in depreciation, amortisation \u00a0and impairment expenses the consolidated \u00a0statement of comprehensive income. \u00a0\n
\n \n \n Subsequent measurement \u00a0\n
\n \n Loans and borrowings \u00a0\n
\n \n After initial recognition, interest-bearing loans \u00a0and borrowings are subsequently measured \u00a0at amortised cost using effective interest rate \u00a0method. Gains and losses are recognised in pro\ufb01t \u00a0or loss when the liabilities are derecognised aswell as through the EIR amortisation process. \u00a0\n
\n \n \n \n \n o\n
\n \n BORROWING COSTS \u00a0\n
\n \n Borrowing cost directly attributable to the ac- \u00a0 quisition, construction or production of assets \u00a0that necessarily takes a substantial period to \u00a0get ready for its intended use are capitalized aspart of the cost of the assets. All other borrow-ing cost are expensed in the period in which \u00a0they occur. \u00a0\n
\n \n \n \n p\n
\n \n INCOME TAX \u00a0\n
\n \n The year\u2019s income tax expense or benefit \u00a0 comprises current tax and deferred tax. Current \u00a0and deferred tax are recognized as income or \u00a0an expense and included in the Consolidated \u00a0statement of comprehensive income, except tothe extent that the tax arises from a transac- \u00a0tion or event which is recognized, in the same \u00a0or a different year, directly in equity, or from a \u00a0business combination. \u00a0\n
\n \n The Group recognizes deductions for invest- \u00a0 ment by applying the recognition and meas- \u00a0urement criteria of the assets for current or \u00a0deferred tax, unless they have the nature of a \u00a0grant. If the deductions have the nature of a \u00a0grant, they are recognized, presented and val- \u00a0ued by applying the corresponding accounting \u00a0policy. For these purposes, the Group consid- \u00a0ers that the deductions whose application \u00a0is independent of the existence of a positive \u00a0integral fee and that have substantive opera- \u00a0tional conditions additional to the realization or \u00a0maintenance of the investment are subsidized. \u00a0\n
\n \n CURRENT TAX \u00a0\n
\n \n Current income tax assets and liabilities are \u00a0 measured at the amount expected to be recov- \u00a0ered from or paid to tax authorities using the \u00a0tax rates and tax laws enacted or substantially \u00a0enacted at the reporting date where the consol- \u00a0idated entity is domiciled. Management periodi- \u00a0cally evaluates positions taken in tax returns \u00a0\n
\n \n with respect to situations in which applicable \u00a0 tax regulations are subject to interpretation and \u00a0establishes provisions where appropriate. \u00a0\n
\n \n The Companies of the H2APEX Group are sub- \u00a0 ject to German income tax respectively Luxem- \u00a0bourg income tax. \u00a0\n
\n \n \n DEFERRED TAX \u00a0\n
\n \n Deferred income tax is provided, using\u00a0the \u00a0 liability method, on all temporary differences \u00a0at the balance sheet date between the tax \u00a0bases of assets and liabilities and their carrying \u00a0amounts for financial reporting purposes. \u00a0\n
\n \n Deferred tax liabilities are the amounts pay- \u00a0 able in the future as income tax related to \u00a0taxable temporary differences while deferred \u00a0tax assets are the amounts to be recovered \u00a0as income tax due to the existence of deduct- \u00a0ible temporary differences, taxable negative \u00a0tax bases or deductions pending application. \u00a0For these purposes, a temporary difference \u00a0is understood as the difference between the \u00a0book value of assets and liabilities and their tax \u00a0base. \u00a0\n
\n \n RECOGNITION OF DEFERRED \u00a0\n
\n \n TAX LIABILITIES \u00a0\n
\n \n The Group recognizes deferred tax liabilities in \u00a0 all cases except if: \u00a0\n
\n \n \u2022\n
\n \n they arise from the initial recognition of \u00a0 goodwill or an asset or liability in a trans- \u00a0action that is not a business combination \u00a0and, at the time of the transaction, affects \u00a0neither accounting profit nor taxable in- \u00a0come; \u00a0\n
\n \n \u2022\n
\n \n they correspond to differences related to \u00a0 investments in subsidiaries, associates \u00a0and joint ventures over which the Group \u00a0has the ability to control the time of its re- \u00a0versal and it is not probable that its rever- \u00a0sal will occur in the foreseeable future. \u00a0\n
\n \n \n \n \n \n RECOGNITION OF DEFERRED TAX ASSETS \u00a0\n
\n \n The Group recognizes deferred tax assets as \u00a0 long as: \u00a0\n
\n \n \u2022\n
\n \n it is probable that sufficient taxable \u00a0 income will be available against which \u00a0they can be utilized or when tax legisla- \u00a0tion envisages the possibility of convertingdeferred tax assets into a receivable from \u00a0public entities in the future. However, the \u00a0assets arising from the initial recognition \u00a0of assets or liabilities in a transaction that \u00a0is not a business combination and at the \u00a0date of the transaction does not affect \u00a0either the accounting result or the taxable \u00a0income, are not recognized; and they cor- \u00a0respond to temporary differences related \u00a0to investments in subsidiaries, associates \u00a0and joint ventures insofar as the temporary \u00a0differences will revert in the foreseeable \u00a0future and positive future fiscal gains are \u00a0expected to offset the differences. \u00a0\n
\n \n It is considered probable that the Group has \u00a0 sufficient tax profits to recover deferred tax as- \u00a0sets, provided there are temporary differences \u00a0taxable in sufficient amount, related to the \u00a0same tax authority and to the same taxpayer, \u00a0the reversal of which is expected in the same \u00a0fiscal year in which the deductible temporary \u00a0differences are expected to reverse or in years \u00a0in which a tax loss, arising from a deductible \u00a0temporary difference, can be offset by previous \u00a0or subsequent earnings. \u00a0\n
\n \n In order to determine future tax profits, the \u00a0 Group takes into account tax planning opportu- \u00a0nities, provided that it intends to adopt them or \u00a0is likely to adopt them. \u00a0\n
\n ",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForExpensesExplanatory",
"language": "en",
"entity": "scheme:391200TZVOLI3RYBWS74",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"esef-43517_2023": {
"value": "\n \n The Group recognizes the assets acquired, the \u00a0 liabilities assumed and any non-controlling \u00a0interest at their acquisition-date fair value. The \u00a0excess, if any, between the business combina- \u00a0tion cost, plus the value given to non-controlling \u00a0interests, and the value of net assets acquired \u00a0and liabilities assumed, is recognized as good- \u00a0will. \u00a0\n
\n \n \n Goodwill is carried at cost less accumulated \u00a0 impairment losses, if any. The Group tests good- \u00a0will for impairment at least annually and when- \u00a0ever there are indications that goodwill may be \u00a0impaired. Goodwill is allocated to the cash-gen- \u00a0erating units. Such units represent the smallest \u00a0groups of assets that generate cash in\ufb02ows \u00a0from continuing use that are largely independent \u00a0of the cash \ufb02ows of other assets or CGUs. \u00a0\n
\n ",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForGoodwillExplanatory",
"language": "en",
"entity": "scheme:391200TZVOLI3RYBWS74",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"esef-43566_2023": {
"value": "\n The Group recognizes the assets acquired, the \u00a0 liabilities assumed and any non-controlling \u00a0interest at their acquisition-date fair value. The \u00a0excess, if any, between the business combina- \u00a0tion cost, plus the value given to non-controlling \u00a0interests, and the value of net assets acquired \u00a0and liabilities assumed, is recognized as good- \u00a0will. \u00a0\n
",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForTransactionsWithNoncontrollingInterestsExplanatory",
"language": "en",
"entity": "scheme:391200TZVOLI3RYBWS74",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"esef-43523_2023": {
"value": "\n \n \n \n Goodwill is carried at cost less accumulated \u00a0 impairment losses, if any. The Group tests good- \u00a0will for impairment at least annually and when- \u00a0ever there are indications that goodwill may be \u00a0impaired. Goodwill is allocated to the cash-gen- \u00a0erating units. Such units represent the smallest \u00a0groups of assets that generate cash in\ufb02ows \u00a0from continuing use that are largely independent \u00a0of the cash \ufb02ows of other assets or CGUs. \u00a0\n
\n \n \n \n \n After initial recognition, intangible assets are \u00a0 carried at cost less any accumulated amortiza- \u00a0tion and any impairment loss. \u00a0\n
\n \n \n Intangible assets with finite lives are amortized \u00a0 over the expected useful economic life and \u00a0assessed for impairment whenever there is an \u00a0indication that the other intangible asset may \u00a0be impaired or at least annually. When there are \u00a0no foreseeable limits to the period over the as- \u00a0sets for generating net cash inflows, the assets \u00a0are recognized assets with indefinite use life. \u00a0Those assets are not amortized but tested for \u00a0impairment loss at least annually. \u00a0\n
\n \n \n \n After initial recognition of property, plant and \u00a0 equipment are carried at cost less accumulated \u00a0depreciation and any accumulated impairment \u00a0losses, only the costs incurred which increase \u00a0capacity or productivity or which lengthen the \u00a0useful life of the asset are capitalized. The \u00a0carrying amount of parts that are replaced is \u00a0derecognized. Costs of day-to-day servicing \u00a0are recognized in consolidated statement of \u00a0comprehensive income as incurred. \u00a0\n
\n \n \n \n g IMPAIRMENT\u00a0OF \u00a0\n
\n \n NON-FINANCIAL ASSETS \u00a0\n
\n \n The Group evaluates whether there are in- \u00a0 dications of possible impairment losses on \u00a0non-financial assets subject to amortization \u00a0or depreciation to verify whether the carrying \u00a0amount of these assets exceeds the recover- \u00a0able amount. \u00a0\n
\n \n The Group tests intangible assets not yet avail- \u00a0 able for use for impairment at least annually, \u00a0irrespective of whether there is any indication \u00a0that the assets may be impaired. \u00a0\n
\n \n The recoverable amount of assets is the higher of fair value less costs of retirement or disposaland value in use. \u00a0\n
\n \n Negative differences arising from compari- \u00a0 son of carrying amounts of assets with their \u00a0recoverable amounts are expensed, except in \u00a0those cases in which the non-current asset is \u00a0recorded at the revalued amount. \u00a0\n
\n \n Recoverable amount is determined for each \u00a0 individual asset, unless the asset does not gen- \u00a0erate cash inflows that are largely independent \u00a0of those from other assets or groups of assets. \u00a0If this is the case, recoverable amount is deter- \u00a0mined for the cash-generating unit (\u201cCGU\u201d) to \u00a0which the asset belongs. \u00a0\n
\n \n At the end of each reporting period the Group \u00a0 assesses whether there is any indication that an \u00a0impairment loss recognized in prior periods\u00a0may \u00a0no longer exist or may have decreased. Impair- \u00a0ments losses on goodwill may not be reversed. \u00a0Impairment losses on assets other than good- \u00a0will are reversed if, and only if, there has been \u00a0a change in the estimates used to calculate the \u00a0asset\u2019s recoverable amount. \u00a0\n
\n A reversal of an impairment loss is recognized \u00a0 in the consolidated statement of comprehensive \u00a0income except when the non-current assets is \u00a0recorded at its restated amount. The increase of \u00a0the carrying amount of an asset attributable to a \u00a0reversal of an impairment loss may not exceed \u00a0the carrying amount that would have been deter- \u00a0mined, net of depreciation or amortization, had \u00a0no impairment loss been recognized. \u00a0\n
\n \n \n The Group measures \ufb01nancial instruments at \u00a0 fair value at each balance sheet date. \u00a0The fair value of non-\ufb01nancial assets is deter- \u00a0mined for the purpose of the impairment test \u00a0and for disclosure purposes. As per IFRS 13 \u00a0de\ufb01nition of fair value is the price that would be \u00a0received to sell an asset or paid to \u00a0transfer a liability in an orderly transaction be- \u00a0tween market participants at the measurement \u00a0date. The fair value measurement is based on \u00a0the presumption that the transaction to sell the \u00a0asset or transfer the liability takes place either: \u00a0\n
\n \n \n The principal or the most advantageous market \u00a0 must be accessible to by the Group. The fair \u00a0value of an asset or a liability is measured using \u00a0the assumptions that market participants would \u00a0use when pricing the asset or liability, assuming \u00a0that market participants act in their economic \u00a0best interest. A fair value measurement of a \u00a0non-\ufb01nancial asset takes into account a market \u00a0participant\u2019s ability to generate economic bene- \u00a0\ufb01ts by using the asset in its highest and best use \u00a0or by selling it to another market participant that \u00a0would use the asset in its highest and best use. \u00a0The Group uses valuation techniques that are \u00a0appropriate in the circumstances and for which \u00a0suf\ufb01cient data are available to measure fair \u00a0value, maximising the use of relevant observable \u00a0inputs and minimising the use of unobservable \u00a0inputs. All assets and liabilities for which fair \u00a0value is measured or disclosed in the \ufb01nancial \u00a0statements are categorised within the fair value \u00a0hierarchy, described as follows, based on the \u00a0lowest level of input that is signi\ufb01cant to the fair \u00a0value measurement as a whole: \u00a0\n
\n ",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfNonfinancialAssetsExplanatory",
"language": "en",
"entity": "scheme:391200TZVOLI3RYBWS74",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"esef-43521_2023": {
"value": "\n \n \n Goodwill is carried at cost less accumulated \u00a0 impairment losses, if any. The Group tests good- \u00a0will for impairment at least annually and when- \u00a0ever there are indications that goodwill may be \u00a0impaired. Goodwill is allocated to the cash-gen- \u00a0erating units. Such units represent the smallest \u00a0groups of assets that generate cash in\ufb02ows \u00a0from continuing use that are largely independent \u00a0of the cash \ufb02ows of other assets or CGUs. \u00a0\n
\n \n \n \n \n After initial recognition, intangible assets are \u00a0 carried at cost less any accumulated amortiza- \u00a0tion and any impairment loss. \u00a0\n
\n \n \n Intangible assets with finite lives are amortized \u00a0 over the expected useful economic life and \u00a0assessed for impairment whenever there is an \u00a0indication that the other intangible asset may \u00a0be impaired or at least annually. When there are \u00a0no foreseeable limits to the period over the as- \u00a0sets for generating net cash inflows, the assets \u00a0are recognized assets with indefinite use life. \u00a0Those assets are not amortized but tested for \u00a0impairment loss at least annually. \u00a0\n
\n \n After initial recognition of property, plant and \u00a0 equipment are carried at cost less accumulated \u00a0depreciation and any accumulated impairment \u00a0losses, only the costs incurred which increase \u00a0capacity or productivity or which lengthen the \u00a0useful life of the asset are capitalized. The \u00a0carrying amount of parts that are replaced is \u00a0derecognized. Costs of day-to-day servicing \u00a0are recognized in consolidated statement of \u00a0comprehensive income as incurred. \u00a0\n
\n \n \n g IMPAIRMENT\u00a0OF \u00a0\n
\n \n NON-FINANCIAL ASSETS \u00a0\n
\n \n The Group evaluates whether there are in- \u00a0 dications of possible impairment losses on \u00a0non-financial assets subject to amortization \u00a0or depreciation to verify whether the carrying \u00a0amount of these assets exceeds the recover- \u00a0able amount. \u00a0\n
\n \n The Group tests intangible assets not yet avail- \u00a0 able for use for impairment at least annually, \u00a0irrespective of whether there is any indication \u00a0that the assets may be impaired. \u00a0\n
\n \n The recoverable amount of assets is the higher of fair value less costs of retirement or disposaland value in use. \u00a0\n
\n \n Negative differences arising from compari- \u00a0 son of carrying amounts of assets with their \u00a0recoverable amounts are expensed, except in \u00a0those cases in which the non-current asset is \u00a0recorded at the revalued amount. \u00a0\n
\n \n Recoverable amount is determined for each \u00a0 individual asset, unless the asset does not gen- \u00a0erate cash inflows that are largely independent \u00a0of those from other assets or groups of assets. \u00a0If this is the case, recoverable amount is deter- \u00a0mined for the cash-generating unit (\u201cCGU\u201d) to \u00a0which the asset belongs. \u00a0\n
\n \n At the end of each reporting period the Group \u00a0 assesses whether there is any indication that an \u00a0impairment loss recognized in prior periods\u00a0may \u00a0no longer exist or may have decreased. Impair- \u00a0ments losses on goodwill may not be reversed. \u00a0Impairment losses on assets other than good- \u00a0will are reversed if, and only if, there has been \u00a0a change in the estimates used to calculate the \u00a0asset\u2019s recoverable amount. \u00a0\n
\n A reversal of an impairment loss is recognized \u00a0 in the consolidated statement of comprehensive \u00a0income except when the non-current assets is \u00a0recorded at its restated amount. The increase of \u00a0the carrying amount of an asset attributable to a \u00a0reversal of an impairment loss may not exceed \u00a0the carrying amount that would have been deter- \u00a0mined, net of depreciation or amortization, had \u00a0no impairment loss been recognized. \u00a0\n
\n \n \n Impairment of \ufb01nancial assets at \u00a0 amortized cost \u00a0\n
\n \n The Group recognizes value adjustments relat- ing to expected credit losses on financial as-sets measured at amortized cost and contractassets. \u00a0\n
\n \n The Group applies the simplified approach of \u00a0 calculating the expected credit loss of its finan- \u00a0cial assets. \u00a0\n
\n \n The simplified approach considers expected \u00a0 credit losses for lifetime plus any additional \u00a0 provisioning if additional indicators for \u00a0 credit losses were indicated. The \u00a0 Group assumes that the credit risk of a financial \u00a0instrument has not increased significantly since \u00a0its initial recognition if the financial instrument \u00a0has a low credit risk at the closing date. \u00a0\n
\n \n \n (ii) Credit-impaired \ufb01nancial assets \u00a0\n
\n \n A financial asset is credit-impaired when one\u00a0or \u00a0more events that have a detrimental impact on \u00a0the estimated future cash flows of that financial \u00a0asset have occurred. Evidence that a financial \u00a0asset is credit-impaired includes observable \u00a0data about the following events: \u00a0\n
\n \n \u2022\n
\n \n Significant financial difficulty of the issuer \u00a0 or the borrower \u00a0\n
\n \n \u2022\n
\n \n A breach of contract, such as a default or \u00a0 past due event (see (i) above) \u00a0\n
\n \n \n \n \n \n \n \u2022 \n \n
\n \n \n \n \n \n \n The lender(s) of the borrower, for economic or contractual reasons relating to the bor- \u00a0rower\u2019s financial difficulty, having granted \u00a0to the borrower a concession(s) that the \u00a0lender(s) would not otherwise consider \u00a0\n
\n \n \n \n \n \n \n \u2022\n
\n \n \n \n \n \n \n It is becoming probable that the borrower \u00a0 will enter bankruptcy or other financial \u00a0reorganisation \u00a0\n
\n \n \n \n \n \n \n \u2022\n
\n \n \n \n \n \n \n The disappearance of an active market for \u00a0 that financial asset because of financial \u00a0difficulties \u00a0\n
\n \n \n \n \n \n (iii) Write-off policy \u00a0\n
\n \n \n \n The group writes off a financial asset when \u00a0 there is information indicating that the debtor \u00a0is in severe financial difficulty and there is no \u00a0realistic prospect of recovery, e.g. when the \u00a0debtor has been placed under liquidation or hasentered into bankruptcy proceedings, or in the \u00a0case of trade receivables, when the amounts \u00a0are over two years past due, whichever oc- \u00a0curs sooner. Financial assets written off may \u00a0still be subject to enforcement activities underthe group\u2019s recovery procedures, taking into \u00a0account legal advice where appropriate. Any re- \u00a0coveries made are recognised in profit or loss.\n
\n \n \n \n Impairment losses and reversals of impair- \u00a0 ment losses on trade receivables and contractassets are recognized in depreciation, amortisa- \u00a0tion and impairment expenses in the consoli-dated statement of comprehensive income.Impairment losses and reversals of impairmentlosses on other financial assets at amortized \u00a0cost are recognized in depreciation, amortisation \u00a0and impairment expenses the consolidated \u00a0statement of comprehensive income. \u00a0\n
\n \n \n Trade receivables are measured at amortised \u00a0 cost. During the year ended 31 December 2023 \u00a0impairments of KEUR 32 were recognized \u00a0(31/12/2022: EUR 0.00). \u00a0\n
",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfAssetsExplanatory",
"language": "en",
"entity": "scheme:391200TZVOLI3RYBWS74",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"esef-43511_2023": {
"value": "\n \n \n c\n
\n \n FAIR VALUE \u00a0\n
\n \n MEASUREMENT \u00a0\n
\n \n The Group measures \ufb01nancial instruments at \u00a0 fair value at each balance sheet date. Fair value \u00a0is the price that would be received to sell an \u00a0asset or paid to transfer a liability in an orderly \u00a0transaction between market participants at the \u00a0measurement date. The fair value measurement \u00a0is based on the presumption that the transac- \u00a0tion to sell the asset or transfer the liability takes \u00a0place either: \u00a0\n
\n \n \u2022\n
\n \n In the principal market for the asset \u00a0 or liability \u00a0\n
\n \n Or \u00a0\n
\n \n \u2022\n
\n \n In the absence of a principal market, in the \u00a0 most advantageous market for the asset or \u00a0liability \u00a0\n
\n \n The principal or the most advantageous market \u00a0 must be accessible by the Group. \u00a0\n
\n The fair value of an asset or a liability is meas- \u00a0ured using the assumptions that market par- \u00a0ticipants would use when pricing the asset or \u00a0liability, assuming that market participants act in \u00a0their economic best interest. \u00a0\n
\n \n A fair value measurement of a non-\ufb01nancial \u00a0 asset takes into account a market participant\u2019s \u00a0ability to generate economic bene\ufb01ts by using \u00a0the asset in its highest and best use or by selling \u00a0\n
\n \n \n \n it to another market participant that would use \u00a0 the asset in its highest and best use. \u00a0\n
\n \n The Group uses valuation techniques that are \u00a0 appropriate in the circumstances and for which \u00a0suf\ufb01cient data are available to measure fair \u00a0value, maximising the use of relevant observableinputs and minimising the use of unobservable \u00a0inputs. \u00a0\n
\n \n All assets and liabilities for which fair value \u00a0 is measured or disclosed in the consolidated \u00a0\ufb01nancial statements are categorised within the \u00a0fair value hierarchy, described as follows, based \u00a0on the lowest level input that is signi\ufb01cant to the \u00a0fair value measurement as a whole: \u00a0\n
\n \n \u2022\n
\n \n Level 1 \u2014 Quoted (unadjusted) market \u00a0 prices in active markets for identical assets \u00a0or liabilities \u00a0\n
\n \n \u2022\n
\n \n Level 2 \u2014 Valuation techniques for which \u00a0 the lowest level input that is signi\ufb01cant to \u00a0the fair value measurement is directly or \u00a0indirectly observable \u00a0\n
\n \n \u2022\n
\n \n Level 3 \u2014 Valuation techniques for which \u00a0 the lowest level input that is signi\ufb01cant to \u00a0the fair value measurement is unobservable\n
\n \n For assets and liabilities that are recognised \u00a0 in the consolidated \ufb01nancial statements at fair \u00a0value on a recurring basis, the Group determineswhether transfers have occurred between levels \u00a0in the hierarchy by re-assessing\u00a0categorisation \u00a0at the end of each reporting period. \u00a0\n
\n \n \n h\n
\n \n FINANCIAL \u00a0\n
\n \n INSTRUMENTS \u00a0\n
\n \n A financial instrument is any contract that gives \u00a0 rise to a financial asset of one entity\u00a0and a \u00a0financial liability or equity instrument of another \u00a0entity. Financial instruments in the form of fi- \u00a0nancial assets and financial liabilities are gener- \u00a0ally presented separately. Financial instruments \u00a0are recognized as soon as the Group becomes \u00a0a party to the contractual provisions of the \u00a0financial instrument. In the case of purchases \u00a0or sales of financial assets through the regular \u00a0market, H2APEX uses the transaction date as \u00a0the date of initial recognition or derecognition. \u00a0Upon initial recognition, financial instruments \u00a0are measured at fair value. \u00a0\n
\n \n \n \n \n FINANCIAL ASSETS \u00a0\n
\n \n Classi\ufb01cation and measurement \u00a0\n
\n \n The Group classifies and measures its \u00a0 financial assets, both current and non-current,as follows: \u00a0\n
\n \n Assets at amortized cost \u00a0\n
\n \n This category includes the financial assets that meet the following conditions: \u00a0\n
\n \n \u2022\n
\n \n The asset is held within the framework \u00a0 of a business model whose purpose is to \u00a0hold \ufb01nancial assets in order to obtain \u00a0contractual cash \ufb02ows, and \u00a0\n
\n \n \u2022\n
\n \n The contractual conditions of the \ufb01nancial asset give rise, on speci\ufb01ed dates, to cash\ufb02ows constituting solely payments of \u00a0principal plus interest on the outstanding \u00a0principle. \u00a0\n
\n \n \n These assets are initially measured at fair \u00a0 value, plus any transaction costs, and then sub- \u00a0sequently at amortized cost. The interest ac- \u00a0crued is taken to the consolidated statement of \u00a0comprehensive income applying the effectiveinterest method. Nonetheless, financial assetsfalling due one year or less without a contrac-tual interest rate are initially and subsequentlymeasured at their nominal amount, if the effectof upgrading the cash flows is insignificant. \u00a0\n
\n \n \n \n \n Impairment of \ufb01nancial assets at \u00a0 amortized cost \u00a0\n
\n \n The Group recognizes value adjustments relat- ing to expected credit losses on financial as-sets measured at amortized cost and contractassets. \u00a0\n
\n \n The Group applies the simplified approach of \u00a0 calculating the expected credit loss of its finan- \u00a0cial assets. \u00a0\n
\n \n The simplified approach considers expected \u00a0 credit losses for lifetime plus any additional \u00a0 provisioning if additional indicators for \u00a0 credit losses were indicated. The \u00a0 Group assumes that the credit risk of a financial \u00a0instrument has not increased significantly since \u00a0its initial recognition if the financial instrument \u00a0has a low credit risk at the closing date. \u00a0\n
\n \n \n \n (i) De\ufb01nition of default \u00a0\n
\n \n The group considers the following as constitut- \u00a0 ing an event of default for internal credit risk \u00a0management purposes as historical experience \u00a0indicates that financial assets that meet either \u00a0of the following criteria are generally not \u00a0recoverable: \u00a0\n
\n \n \u2022\n
\n \n When there is a breach of financial cov- \u00a0 enants by the debtor \u00a0\n
\n \n \u2022\n
\n \n Information developed internally or obtained \u00a0 from external sources indicates that the \u00a0debtor is unlikely to pay its creditors, includ- \u00a0ing the group, in full (without taking into \u00a0account any collateral held by the group). \u00a0\n
\n Irrespective of the above analysis, the group \u00a0 considers that default has occurred when a \u00a0financial asset is more than 180 days past due \u00a0unless the group has reasonable and support- \u00a0able information to demonstrate that a more \u00a0lagging default criterion is more appropriate. \u00a0\n
\n \n \n \n (ii) Credit-impaired \ufb01nancial assets \u00a0\n
\n \n A financial asset is credit-impaired when one\u00a0or \u00a0more events that have a detrimental impact on \u00a0the estimated future cash flows of that financial \u00a0asset have occurred. Evidence that a financial \u00a0asset is credit-impaired includes observable \u00a0data about the following events: \u00a0\n
\n \n \u2022\n
\n \n Significant financial difficulty of the issuer \u00a0 or the borrower \u00a0\n
\n \n \u2022\n
\n \n A breach of contract, such as a default or \u00a0 past due event (see (i) above) \u00a0\n
\n \n \n \n \n \n \n \n \n \n \n \n \u2022 \n \n
\n \n \n \n \n \n \n \n \n The lender(s) of the borrower, for economic or contractual reasons relating to the bor- \u00a0rower\u2019s financial difficulty, having granted \u00a0to the borrower a concession(s) that the \u00a0lender(s) would not otherwise consider \u00a0\n
\n \n \n \n \n \n \n \n \u2022\n
\n \n \n \n \n \n \n \n It is becoming probable that the borrower \u00a0 will enter bankruptcy or other financial \u00a0reorganisation \u00a0\n
\n \n \n \n \n \n \n \n \u2022\n
\n \n \n \n \n \n \n \n The disappearance of an active market for \u00a0 that financial asset because of financial \u00a0difficulties \u00a0\n
\n \n \n \n \n \n \n \n (iii) Write-off policy \u00a0\n
\n \n \n \n The group writes off a financial asset when \u00a0 there is information indicating that the debtor \u00a0is in severe financial difficulty and there is no \u00a0realistic prospect of recovery, e.g. when the \u00a0debtor has been placed under liquidation or hasentered into bankruptcy proceedings, or in the \u00a0case of trade receivables, when the amounts \u00a0are over two years past due, whichever oc- \u00a0curs sooner. Financial assets written off may \u00a0still be subject to enforcement activities underthe group\u2019s recovery procedures, taking into \u00a0account legal advice where appropriate. Any re- \u00a0coveries made are recognised in profit or loss.\n
\n \n \n \n Impairment losses and reversals of impair- \u00a0 ment losses on trade receivables and contractassets are recognized in depreciation, amortisa- \u00a0tion and impairment expenses in the consoli-dated statement of comprehensive income.Impairment losses and reversals of impairmentlosses on other financial assets at amortized \u00a0cost are recognized in depreciation, amortisation \u00a0and impairment expenses the consolidated \u00a0statement of comprehensive income. \u00a0\n
\n \n \n \n \n \n \n SUBSEQUENT MEASUREMENT \u00a0\n
\n \n \n \n Derecognition of \ufb01nancial assets \u00a0\n
\n \n \n Financial assets are derecognized when the \u00a0contractual rights to the cash \ufb02ows from the \u00a0\ufb01nancial asset expire or have been transferred \u00a0and substantially all the risks and rewards of \u00a0ownership are considered to have been \u00a0transferred. \u00a0\n
\n \n \n On derecognition of a \ufb01nancial asset, the differ- \u00a0 ence between the carrying amount and the \u00a0sum of the consideration received, net of \u00a0transaction costs, including any new asset ob- \u00a0tained less any new liability assumed and \u00a0any cumulative gain or loss deferred in other \u00a0comprehensive income, is recognized in consoli- \u00a0dated statement of comprehensive income. \u00a0\n
\n \n \n \n \n FINANCIAL LIABILITIES \u00a0\n
\n \n \n Classi\ufb01cation and measurement of \ufb01nancial li- \u00a0 abilities \u00a0\n
\n \n Financial liabilities are classi\ufb01ed at initial recog- \u00a0 nition and initially measured at fair value, plus \u00a0or minus any transaction costs, and then sub- \u00a0sequently at amortized cost using the effective \u00a0interest rate method. \u00a0\n
\n \n \n \n \n Financial liabilities are classi\ufb01ed, at initial recogni- \u00a0tion, as \ufb01nancial liabilities at fair value through \u00a0pro\ufb01t or loss, loans and borrowings, payables\u00a0as \u00a0appropriate. The Group determines the classi\ufb01ca- \u00a0tion of its \ufb01nancial liabilities at initial recognition. \u00a0\n
\n \n \n \n \n \n \n Subsequent measurement \u00a0\n
\n \n Loans and borrowings \u00a0\n
\n \n After initial recognition, interest-bearing loans \u00a0and borrowings are subsequently measured \u00a0at amortised cost using effective interest rate \u00a0method. Gains and losses are recognised in pro\ufb01t \u00a0or loss when the liabilities are derecognised aswell as through the EIR amortisation process. \u00a0\n
\n \n \n \n \n Derecognition of \ufb01nancial liabilities \u00a0\n
\n Financial liabilities are derecognized where they \u00a0are extinguished, i.e., when the obligation deriv- \u00a0ing from the liability has been discharged or \u00a0cancelled, or it has expired. When there is an \u00a0exchange of debt instruments between the Group \u00a0and the counterparty, provided that they have \u00a0substantially different conditions, the original \u00a0\ufb01nancial liability is eliminated, and the new\u00a0\ufb01nan- \u00a0cial liability is recognized. Similarly, any substan- \u00a0tial modi\ufb01cation to the current conditions affect- \u00a0ing a \ufb01nancial liability is recognized. \u00a0\n
\n \n \n \n ",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory",
"language": "en",
"entity": "scheme:391200TZVOLI3RYBWS74",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"esef-43505_2023": {
"value": "\n \n c\n
\n \n FAIR VALUE \u00a0\n
\n \n MEASUREMENT \u00a0\n
\n \n The Group measures \ufb01nancial instruments at \u00a0 fair value at each balance sheet date. Fair value \u00a0is the price that would be received to sell an \u00a0asset or paid to transfer a liability in an orderly \u00a0transaction between market participants at the \u00a0measurement date. The fair value measurement \u00a0is based on the presumption that the transac- \u00a0tion to sell the asset or transfer the liability takes \u00a0place either: \u00a0\n
\n \n \u2022\n
\n \n In the principal market for the asset \u00a0 or liability \u00a0\n
\n \n Or \u00a0\n
\n \n \u2022\n
\n \n In the absence of a principal market, in the \u00a0 most advantageous market for the asset or \u00a0liability \u00a0\n
\n \n The principal or the most advantageous market \u00a0 must be accessible by the Group. \u00a0\n
\n The fair value of an asset or a liability is meas- \u00a0ured using the assumptions that market par- \u00a0ticipants would use when pricing the asset or \u00a0liability, assuming that market participants act in \u00a0their economic best interest. \u00a0\n
\n \n A fair value measurement of a non-\ufb01nancial \u00a0 asset takes into account a market participant\u2019s \u00a0ability to generate economic bene\ufb01ts by using \u00a0the asset in its highest and best use or by selling \u00a0\n
\n \n \n \n \n it to another market participant that would use \u00a0 the asset in its highest and best use. \u00a0\n
\n \n The Group uses valuation techniques that are \u00a0 appropriate in the circumstances and for which \u00a0suf\ufb01cient data are available to measure fair \u00a0value, maximising the use of relevant observableinputs and minimising the use of unobservable \u00a0inputs. \u00a0\n
\n \n All assets and liabilities for which fair value \u00a0 is measured or disclosed in the consolidated \u00a0\ufb01nancial statements are categorised within the \u00a0fair value hierarchy, described as follows, based \u00a0on the lowest level input that is signi\ufb01cant to the \u00a0fair value measurement as a whole: \u00a0\n
\n \n \u2022\n
\n \n Level 1 \u2014 Quoted (unadjusted) market \u00a0 prices in active markets for identical assets \u00a0or liabilities \u00a0\n
\n \n \u2022\n
\n \n Level 2 \u2014 Valuation techniques for which \u00a0 the lowest level input that is signi\ufb01cant to \u00a0the fair value measurement is directly or \u00a0indirectly observable \u00a0\n
\n \n \u2022\n
\n \n Level 3 \u2014 Valuation techniques for which \u00a0 the lowest level input that is signi\ufb01cant to \u00a0the fair value measurement is unobservable\n
\n \n For assets and liabilities that are recognised \u00a0 in the consolidated \ufb01nancial statements at fair \u00a0value on a recurring basis, the Group determineswhether transfers have occurred between levels \u00a0in the hierarchy by re-assessing\u00a0categorisation \u00a0at the end of each reporting period. \u00a0\n
\n \n \n \n \n Classi\ufb01cation and measurement of \ufb01nancial li- \u00a0 abilities \u00a0\n
\n \n Financial liabilities are classi\ufb01ed at initial recog- \u00a0 nition and initially measured at fair value, plus \u00a0or minus any transaction costs, and then sub- \u00a0sequently at amortized cost using the effective \u00a0interest rate method. \u00a0\n
\n \n \n \n \n Financial liabilities are classi\ufb01ed, at initial recogni- \u00a0tion, as \ufb01nancial liabilities at fair value through \u00a0pro\ufb01t or loss, loans and borrowings, payables\u00a0as \u00a0appropriate. The Group determines the classi\ufb01ca- \u00a0tion of its \ufb01nancial liabilities at initial recognition. \u00a0\n
\n \n \n \n \n \n \n \n \n 5. FAIR\u00a0VALUE MEASUREMENT \u00a0\n
\n \n \n The Group measures \ufb01nancial instruments at \u00a0 fair value at each balance sheet date. \u00a0The fair value of non-\ufb01nancial assets is deter- \u00a0mined for the purpose of the impairment test \u00a0and for disclosure purposes. As per IFRS 13 \u00a0de\ufb01nition of fair value is the price that would be \u00a0received to sell an asset or paid to \u00a0transfer a liability in an orderly transaction be- \u00a0tween market participants at the measurement \u00a0date. The fair value measurement is based on \u00a0the presumption that the transaction to sell the \u00a0asset or transfer the liability takes place either: \u00a0\n
\n \n \n \u2022\n
\n \n In the principal market for the asset or \u00a0 liability, or \u00a0\n
\n \n \u2022\n
\n \n In the absence of a principal market, in the \u00a0 most advantageous market for the asset or \u00a0liability \u00a0\n
\n \n \n The principal or the most advantageous market \u00a0 must be accessible to by the Group. The fair \u00a0value of an asset or a liability is measured using \u00a0the assumptions that market participants would \u00a0use when pricing the asset or liability, assuming \u00a0that market participants act in their economic \u00a0best interest. A fair value measurement of a \u00a0non-\ufb01nancial asset takes into account a market \u00a0participant\u2019s ability to generate economic bene- \u00a0\ufb01ts by using the asset in its highest and best use \u00a0or by selling it to another market participant that \u00a0would use the asset in its highest and best use. \u00a0The Group uses valuation techniques that are \u00a0appropriate in the circumstances and for which \u00a0suf\ufb01cient data are available to measure fair \u00a0value, maximising the use of relevant observable \u00a0inputs and minimising the use of unobservable \u00a0inputs. All assets and liabilities for which fair \u00a0value is measured or disclosed in the \ufb01nancial \u00a0statements are categorised within the fair value \u00a0hierarchy, described as follows, based on the \u00a0lowest level of input that is signi\ufb01cant to the fair \u00a0value measurement as a whole: \u00a0\n
\n \n \n \n \n \n \n \n \n Level 1 \u2014 Quoted (unadjusted) market prices in \u00a0 active markets for identical assets or liabilities \u00a0\n
\n Level 2 \u2014 Valuation techniques for which the \u00a0lowest level input that is signi\ufb01cant to the fair \u00a0value measurement is directly or indirectly ob- \u00a0servable \u00a0\n
\n Level 3 \u2014 Valuation techniques for which the \u00a0 lowest level input that is signi\ufb01cant to the fair \u00a0value measurement is unobservable \u00a0\n
\n For assets and liabilities that are recognised \u00a0 in the consolidated \ufb01nancial statements on a \u00a0recurring basis, the Group determines whether \u00a0transfers have occurred between Levels in the \u00a0hierarchy by re-assessing categorisation (based \u00a0on the lowest level input that is signi\ufb01cant to the \u00a0fair value measurement as a whole) at the end \u00a0of each reporting period. \u00a0\n
\n \n \n The lifetime credit loss of trade receivables was \u00a0 determined for each customer based on data \u00a0from an external rating agency. \u00a0\n
\n \n \n \n ",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForFairValueMeasurementExplanatory",
"language": "en",
"entity": "scheme:391200TZVOLI3RYBWS74",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"esef-43527_2023": {
"value": "\n \n \n d INTANGIBLE \u00a0\n
\n \n ASSETS \u00a0\n
\n \n INITIAL RECOGNITION \u00a0\n
\n \n Intangible assets acquired separately are meas- \u00a0 ured on initial recognition at cost or deemed \u00a0cost. Expenses for research activities are recog- \u00a0nized through the consolidated income state- \u00a0ment in the period in which they are incurred. \u00a0Development expenditures on the individual \u00a0project are recognized as intangible assets from \u00a0the date the group can demonstrate: \u00a0\n
\n \n \n \u2022\n
\n \n the product or process is technically\u00a0and \u00a0 commercially feasible so that the asset will \u00a0be available for use or sale \u00a0\n
\n \n \u2022\n
\n \n the Group has the ability and intention to \u00a0 use or sell the asset. \u00a0\n
\n \n \u2022\n
\n \n a future economic bene\ufb01t is probable. \u00a0\n
\n \n \u2022\n
\n \n the Group has suf\ufb01cient resources to com- \u00a0 plete the development and \u00a0\n
\n \n \u2022\n
\n \n the development costs can be measured \u00a0 reliably. \u00a0\n
\n The costs capitalized include the cost of materi- \u00a0 als, direct labour and other directly attributable \u00a0expenditure that serves to prepare the asset for \u00a0use. Such capitalized costs are included in line \u00a0item other intangible assets as internally gener- \u00a0ated intangible assets. \u00a0\n
\n \n Other development costs are expensed as \u00a0 incurred. \u00a0\n
\n \n SUBSEQUENT MEASUREMENTS \u00a0\n
\n \n \n \n After initial recognition, intangible assets are \u00a0 carried at cost less any accumulated amortiza- \u00a0tion and any impairment loss. \u00a0\n
\n \n \n \n \n \n \n AMORTIZATION \u00a0\n
\n The useful lives of intangible assets are as- \u00a0 sessed by the General Partner of the Group as \u00a0either finite or indefinite. \u00a0\n
\n \n \n Intangible assets with finite lives are amortized \u00a0 over the expected useful economic life and \u00a0assessed for impairment whenever there is an \u00a0indication that the other intangible asset may \u00a0be impaired or at least annually. When there are \u00a0no foreseeable limits to the period over the as- \u00a0sets for generating net cash inflows, the assets \u00a0are recognized assets with indefinite use life. \u00a0Those assets are not amortized but tested for \u00a0impairment loss at least annually. \u00a0\n
\n \n \n The estimated useful life for current and com- \u00a0 parative year as following: \u00a0\n
\n \n
\n \n \n \n \n \n \n \n | \n Patents, licenses, trademarks and similar rights | \n Computer software | \n
\n \n | Useful lifes | \n Finite | \n Finite | \n
\n \n | Amortisation method used | \n Amortised on a straight-line | \n Amortised on a straight-line | \n
\n \n | \n basis over the period of use | \n basis over the period of use | \n
\n \n | Internally generated or acquired | \n Acquired | \n Acquired | \n
\n \n | Amortisation period | \n 8-10 years | \n 8-10 years | \n
\n \n
\n
Intangible assets under development are \u00a0 reported at cost and are allocated to intangible \u00a0assets when they are completed and put into \u00a0operational use, from which point onwards they \u00a0are depreciated. \u00a0\n
\n The Group reviews the residual value, useful life \u00a0 and amortization method of intangible assets \u00a0at each financial year end. Changes to initially \u00a0established criteria are accounted for as a \u00a0change in accounting estimates. \u00a0\n
\n \n \n ",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForIntangibleAssetsOtherThanGoodwillExplanatory",
"language": "en",
"entity": "scheme:391200TZVOLI3RYBWS74",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"esef-43526_2023": {
"value": "\n \n d INTANGIBLE \u00a0\n
\n \n ASSETS \u00a0\n
\n \n INITIAL RECOGNITION \u00a0\n
\n \n Intangible assets acquired separately are meas- \u00a0 ured on initial recognition at cost or deemed \u00a0cost. Expenses for research activities are recog- \u00a0nized through the consolidated income state- \u00a0ment in the period in which they are incurred. \u00a0Development expenditures on the individual \u00a0project are recognized as intangible assets from \u00a0the date the group can demonstrate: \u00a0\n
\n \n \n \u2022\n
\n \n the product or process is technically\u00a0and \u00a0 commercially feasible so that the asset will \u00a0be available for use or sale \u00a0\n
\n \n \u2022\n
\n \n the Group has the ability and intention to \u00a0 use or sell the asset. \u00a0\n
\n \n \u2022\n
\n \n a future economic bene\ufb01t is probable. \u00a0\n
\n \n \u2022\n
\n \n the Group has suf\ufb01cient resources to com- \u00a0 plete the development and \u00a0\n
\n \n \u2022\n
\n \n the development costs can be measured \u00a0 reliably. \u00a0\n
\n The costs capitalized include the cost of materi- \u00a0 als, direct labour and other directly attributable \u00a0expenditure that serves to prepare the asset for \u00a0use. Such capitalized costs are included in line \u00a0item other intangible assets as internally gener- \u00a0ated intangible assets. \u00a0\n
\n \n Other development costs are expensed as \u00a0 incurred. \u00a0\n
\n \n SUBSEQUENT MEASUREMENTS \u00a0\n
\n \n \n \n After initial recognition, intangible assets are \u00a0 carried at cost less any accumulated amortiza- \u00a0tion and any impairment loss. \u00a0\n
\n \n \n \n AMORTIZATION \u00a0\n
\n The useful lives of intangible assets are as- \u00a0 sessed by the General Partner of the Group as \u00a0either finite or indefinite. \u00a0\n
\n \n \n Intangible assets with finite lives are amortized \u00a0 over the expected useful economic life and \u00a0assessed for impairment whenever there is an \u00a0indication that the other intangible asset may \u00a0be impaired or at least annually. When there are \u00a0no foreseeable limits to the period over the as- \u00a0sets for generating net cash inflows, the assets \u00a0are recognized assets with indefinite use life. \u00a0Those assets are not amortized but tested for \u00a0impairment loss at least annually. \u00a0\n
\n \n \n The estimated useful life for current and com- \u00a0 parative year as following: \u00a0\n
\n \n
\n \n \n \n \n \n \n \n | \n Patents, licenses, trademarks and similar rights | \n Computer software | \n
\n \n | Useful lifes | \n Finite | \n Finite | \n
\n \n | Amortisation method used | \n Amortised on a straight-line | \n Amortised on a straight-line | \n
\n \n | \n basis over the period of use | \n basis over the period of use | \n
\n \n | Internally generated or acquired | \n Acquired | \n Acquired | \n
\n \n | Amortisation period | \n 8-10 years | \n 8-10 years | \n
\n \n
\n
Intangible assets under development are \u00a0 reported at cost and are allocated to intangible \u00a0assets when they are completed and put into \u00a0operational use, from which point onwards they \u00a0are depreciated. \u00a0\n
\n The Group reviews the residual value, useful life \u00a0 and amortization method of intangible assets \u00a0at each financial year end. Changes to initially \u00a0established criteria are accounted for as a \u00a0change in accounting estimates. \u00a0\n
\n ",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForIntangibleAssetsAndGoodwillExplanatory",
"language": "en",
"entity": "scheme:391200TZVOLI3RYBWS74",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"esef-43554_2023": {
"value": "\n Intangible assets acquired separately are meas- \u00a0 ured on initial recognition at cost or deemed \u00a0cost. Expenses for research activities are recog- \u00a0nized through the consolidated income state- \u00a0ment in the period in which they are incurred. \u00a0Development expenditures on the individual \u00a0project are recognized as intangible assets from \u00a0the date the group can demonstrate: \u00a0\n
\n ",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForResearchAndDevelopmentExpenseExplanatory",
"language": "en",
"entity": "scheme:391200TZVOLI3RYBWS74",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"esef-43490_2023": {
"value": "\n \n AMORTIZATION \u00a0\n
\n The useful lives of intangible assets are as- \u00a0 sessed by the General Partner of the Group as \u00a0either finite or indefinite. \u00a0\n
\n \n \n Intangible assets with finite lives are amortized \u00a0 over the expected useful economic life and \u00a0assessed for impairment whenever there is an \u00a0indication that the other intangible asset may \u00a0be impaired or at least annually. When there are \u00a0no foreseeable limits to the period over the as- \u00a0sets for generating net cash inflows, the assets \u00a0are recognized assets with indefinite use life. \u00a0Those assets are not amortized but tested for \u00a0impairment loss at least annually. \u00a0\n
\n \n \n The estimated useful life for current and com- \u00a0 parative year as following: \u00a0\n
\n \n
\n \n \n \n \n \n \n \n | \n Patents, licenses, trademarks and similar rights | \n Computer software | \n
\n \n | Useful lifes | \n Finite | \n Finite | \n
\n \n | Amortisation method used | \n Amortised on a straight-line | \n Amortised on a straight-line | \n
\n \n | \n basis over the period of use | \n basis over the period of use | \n
\n \n | Internally generated or acquired | \n Acquired | \n Acquired | \n
\n \n | Amortisation period | \n 8-10 years | \n 8-10 years | \n
\n \n
\n
Intangible assets under development are \u00a0 reported at cost and are allocated to intangible \u00a0assets when they are completed and put into \u00a0operational use, from which point onwards they \u00a0are depreciated. \u00a0\n
\n The Group reviews the residual value, useful life \u00a0 and amortization method of intangible assets \u00a0at each financial year end. Changes to initially \u00a0established criteria are accounted for as a \u00a0change in accounting estimates. \u00a0\n
\n \n \n DEPRECIATION \u00a0\n
\n Property, plant and equipment are depreciated \u00a0 by allocating the depreciable amount of the \u00a0asset on a systematic basis over its useful life. \u00a0The depreciable amount is the cost of an asset \u00a0less its residual value. \u00a0\n
\n The following useful lifes are assumed: \u00a0\n
\n \n
\n \n \n \n \n \n \n \n | \n Depreciation Method | \n Estimated years of useful life | \n
\n \n | Buildings | \n Straight-line | \n 25 -40 | \n
\n \n | Technical installations and machinery | \n Straight-line | \n 5 - 20 | \n
\n \n | Other installations, equipment and furniture | \n Straight-line | \n 4 - 12 | \n
\n \n
\n
Assets under construction are reported at cost \u00a0 and are allocated to tangible assets when they \u00a0are completed and put into operational use, from \u00a0which point onwards they are depreciated. \u00a0\n
\n The Group reviews residual values, useful lifes and \u00a0 depreciation methods on a regularly basis or by \u00a0triggering events. Changes to initially established \u00a0criteria are accounted for as a change in account- \u00a0ing estimates. \u00a0\n
\n \n \n Right-of-use assets are depreciated on a straight- \u00a0 line basis over the shorter of the lease term and \u00a0the estimated useful lives of the assets, as follows: \u00a0\n
\n \n \u2022\n
\n \n Motor vehicles and other equipment \u00a0 3 to 4 years \u00a0\n
\n \n \u2022\n
\n \n Of\ufb01ce Space 2 to 5\u00a0years \u00a0\n
\n \n Right-of-use assets are generally depreciated \u00a0\n \n over the shorter of the asset\u2019s useful life and the \u00a0\n \n lease term on a straight-line basis. If the Group is \u00a0\n \n reasonably certain to exercise a purchase option, \u00a0\n \n the right-of-use asset is depreciated over the \u00a0\n \n underlying asset\u2019s useful life. \u00a0 \n \n \n The depreciable amount of a leased asset is allo- cated to each accounting period during the periodof expected use on a systematic basis consistentwith the depreciation policy for owned assets. If \u00a0there is reasonable certainty that the Group will \u00a0obtain ownership by the end of the lease term, \u00a0the period of expected use is the useful life of theasset. \u00a0\n
\n ",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForDepreciationExpenseExplanatory",
"language": "en",
"entity": "scheme:391200TZVOLI3RYBWS74",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"esef-43545_2023": {
"value": "\n \n e\n
\n PROPERTY, PLANT \u00a0\n
\n AND EQUIPMENT \u00a0\n
\n INITIAL RECOGNITION \u00a0\n
\n Property, plant and equipment are recognized \u00a0 at cost or deemed cost. Production costs and \u00a0interests which related to the financing of \u00a0acquisitions of tangible assets are capitalized \u00a0in the consolidated financial statements. \u00a0\n
\n SUBSEQUENT MEASUREMENT \u00a0\n
\n \n \n After initial recognition of property, plant and \u00a0 equipment are carried at cost less accumulated \u00a0depreciation and any accumulated impairment \u00a0losses, only the costs incurred which increase \u00a0capacity or productivity or which lengthen the \u00a0useful life of the asset are capitalized. The \u00a0carrying amount of parts that are replaced is \u00a0derecognized. Costs of day-to-day servicing \u00a0are recognized in consolidated statement of \u00a0comprehensive income as incurred. \u00a0\n
\n \n \n \n DEPRECIATION \u00a0\n
\n Property, plant and equipment are depreciated \u00a0 by allocating the depreciable amount of the \u00a0asset on a systematic basis over its useful life. \u00a0The depreciable amount is the cost of an asset \u00a0less its residual value. \u00a0\n
\n The following useful lifes are assumed: \u00a0\n
\n \n
\n \n \n \n \n \n \n \n | \n Depreciation Method | \n Estimated years of useful life | \n
\n \n | Buildings | \n Straight-line | \n 25 -40 | \n
\n \n | Technical installations and machinery | \n Straight-line | \n 5 - 20 | \n
\n \n | Other installations, equipment and furniture | \n Straight-line | \n 4 - 12 | \n
\n \n
\n
Assets under construction are reported at cost \u00a0 and are allocated to tangible assets when they \u00a0are completed and put into operational use, from \u00a0which point onwards they are depreciated. \u00a0\n
\n The Group reviews residual values, useful lifes and \u00a0 depreciation methods on a regularly basis or by \u00a0triggering events. Changes to initially established \u00a0criteria are accounted for as a change in account- \u00a0ing estimates. \u00a0\n
\n \n \n ",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory",
"language": "en",
"entity": "scheme:391200TZVOLI3RYBWS74",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"esef-43483_2023": {
"value": "Assets under construction are reported at cost \u00a0 and are allocated to tangible assets when they \u00a0are completed and put into operational use, from \u00a0which point onwards they are depreciated. \u00a0\n
",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForConstructionInProgressExplanatory",
"language": "en",
"entity": "scheme:391200TZVOLI3RYBWS74",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"esef-43535_2023": {
"value": "\n \n \n f\n
\n \n LEASES \u00a0\n
\n \n The Group leases various offices, equipment \u00a0 and cars. Rental contracts are typically agreed \u00a0for fixed periods of 5 years, but may have \u00a0extension options. Lease terms are negotiated \u00a0on an individual basis and contain a wide range \u00a0of different terms and conditions. The lease \u00a0agreements do not impose any covenants, but \u00a0leased property assets may not be used as \u00a0security for borrowing purposes. \u00a0\n
\n \n Leases are recognized as a right-of-use as- \u00a0 set and a corresponding liability at the date at \u00a0which the leases asset is available for use by \u00a0the Group. The finance cost is charged to con- \u00a0solidated statement of comprehensive income \u00a0over the lease period so as to produce a con- \u00a0stant periodic rate of interest on the remaining \u00a0balance of the liability for each period. \u00a0\n
\n \n Assets and liabilities arising from a lease are \u00a0 initially measured on a present value basis. \u00a0Lease liabilities include the net present value ofthe following lease payments: \u00a0\n
\n \n \u2022\n
\n \n \ufb01xed payments (including in-substance \u00a0 \ufb01xed payments), less any lease incentives \u00a0receivable \u00a0\n
\n \n \u2022\n
\n \n variable lease payment that are based on an \u00a0 index or a rate, initially measured using the \u00a0index or rate as at the commencement date \u00a0\n
\n \n Lease payments to be made under reasonably \u00a0 certain extension options are also included in \u00a0the measurement of the liability. \u00a0\n
\n \n The lease payments are discounted using the \u00a0 interest rate implicit in the lease. If that rate \u00a0cannot be determined, the lessee\u2019s incrementalborrowing rate is used, being the rate that the \u00a0lessee would have to pay to borrow the funds \u00a0\n
\n \n necessary to obtain an asset of similar value \u00a0 in a similar economic environment with similar \u00a0terms and conditions. \u00a0\n
\n \n To determine the incremental borrowing rate, \u00a0 the Group: \u00a0\n
\n \n \u2022\n
\n \n where possible, uses recent third-party \u00a0 \ufb01nancing received by the individual lessee as \u00a0a starting point, adjusted to re\ufb02ect changes \u00a0in \ufb01nancing conditions since third party \u00a0\ufb01nancing was received \u00a0\n
\n \n \u2022\n
\n \n makes adjustments speci\ufb01c to the lease, e.g. \u00a0 term, country, currency and security. \u00a0\n
\n \n The Group is exposed to potential future increases \u00a0 in variable lease payments based on an index or \u00a0rate, which are not included in the lease liability \u00a0until they take effect. When adjustments to lease \u00a0payments based on an index or rate take effect, \u00a0the leases liability is reassessed and adjusted \u00a0against the right-of-use asset. \u00a0\n
\n Lease payments are allocated between liability \u00a0 and \ufb01nance cost. The \ufb01nance cost is charged to \u00a0pro\ufb01t or loss over the lease period. \u00a0\n
\n \n Right-of-use assets are measured at cost compris- \u00a0 ing the following: \u00a0\n
\n \n \u2022\n
\n \n the amount of the initial measurement of \u00a0 lease liability \u00a0\n
\n \n \u2022\n
\n \n any lease payments made at or before the \u00a0 commencement date less any lease incen- \u00a0tives received \u00a0\n
\n \n \u2022\n
\n \n any initial direct costs, and \u00a0\n
\n \n \u2022\n
\n \n restoration costs. \u00a0\n
\n \n \n Right-of-use assets are depreciated on a straight- \u00a0 line basis over the shorter of the lease term and \u00a0the estimated useful lives of the assets, as follows: \u00a0\n
\n \n \u2022\n
\n \n Motor vehicles and other equipment \u00a0 3 to 4 years \u00a0\n
\n \n \u2022\n
\n \n Of\ufb01ce Space 2 to 5\u00a0years \u00a0\n
\n \n \n \n \n \n Right-of-use assets are generally depreciated \u00a0\n \n over the shorter of the asset\u2019s useful life and the \u00a0\n \n lease term on a straight-line basis. If the Group is \u00a0\n \n reasonably certain to exercise a purchase option, \u00a0\n \n the right-of-use asset is depreciated over the \u00a0\n \n underlying asset\u2019s useful life. \u00a0 \n \n
\n \n \n Payments associated with short-term leases \u00a0\n \n (lease term of 12 month or less) and leases of \u00a0\n \n low-value assets (below EUR 5,000) are recog- \u00a0\n \n nized on a straight-line basis as an expense in \u00a0\n \n pro\ufb01t or loss. \u00a0 \n \n
\n \n \n The depreciable amount of a leased asset is allo- cated to each accounting period during the periodof expected use on a systematic basis consistentwith the depreciation policy for owned assets. If \u00a0there is reasonable certainty that the Group will \u00a0obtain ownership by the end of the lease term, \u00a0the period of expected use is the useful life of theasset. \u00a0\n
\n \n ",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForLeasesExplanatory",
"language": "en",
"entity": "scheme:391200TZVOLI3RYBWS74",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"esef-43509_2023": {
"value": "\n \n \n \n \n h\n
\n \n FINANCIAL \u00a0\n
\n \n INSTRUMENTS \u00a0\n
\n \n A financial instrument is any contract that gives \u00a0 rise to a financial asset of one entity\u00a0and a \u00a0financial liability or equity instrument of another \u00a0entity. Financial instruments in the form of fi- \u00a0nancial assets and financial liabilities are gener- \u00a0ally presented separately. Financial instruments \u00a0are recognized as soon as the Group becomes \u00a0a party to the contractual provisions of the \u00a0financial instrument. In the case of purchases \u00a0or sales of financial assets through the regular \u00a0market, H2APEX uses the transaction date as \u00a0the date of initial recognition or derecognition. \u00a0Upon initial recognition, financial instruments \u00a0are measured at fair value. \u00a0\n
\n \n \n \n \n \n \n FINANCIAL ASSETS \u00a0\n
\n \n Classi\ufb01cation and measurement \u00a0\n
\n \n The Group classifies and measures its \u00a0 financial assets, both current and non-current,as follows: \u00a0\n
\n \n Assets at amortized cost \u00a0\n
\n \n This category includes the financial assets that meet the following conditions: \u00a0\n
\n \n \u2022\n
\n \n The asset is held within the framework \u00a0 of a business model whose purpose is to \u00a0hold \ufb01nancial assets in order to obtain \u00a0contractual cash \ufb02ows, and \u00a0\n
\n \n \u2022\n
\n \n The contractual conditions of the \ufb01nancial asset give rise, on speci\ufb01ed dates, to cash\ufb02ows constituting solely payments of \u00a0principal plus interest on the outstanding \u00a0principle. \u00a0\n
\n \n \n These assets are initially measured at fair \u00a0 value, plus any transaction costs, and then sub- \u00a0sequently at amortized cost. The interest ac- \u00a0crued is taken to the consolidated statement of \u00a0comprehensive income applying the effectiveinterest method. Nonetheless, financial assetsfalling due one year or less without a contrac-tual interest rate are initially and subsequentlymeasured at their nominal amount, if the effectof upgrading the cash flows is insignificant. \u00a0\n
\n \n \n \n \n Impairment of \ufb01nancial assets at \u00a0 amortized cost \u00a0\n
\n \n The Group recognizes value adjustments relat- ing to expected credit losses on financial as-sets measured at amortized cost and contractassets. \u00a0\n
\n \n The Group applies the simplified approach of \u00a0 calculating the expected credit loss of its finan- \u00a0cial assets. \u00a0\n
\n \n The simplified approach considers expected \u00a0 credit losses for lifetime plus any additional \u00a0 provisioning if additional indicators for \u00a0 credit losses were indicated. The \u00a0 Group assumes that the credit risk of a financial \u00a0instrument has not increased significantly since \u00a0its initial recognition if the financial instrument \u00a0has a low credit risk at the closing date. \u00a0\n
\n \n \n \n (i) De\ufb01nition of default \u00a0\n
\n \n The group considers the following as constitut- \u00a0 ing an event of default for internal credit risk \u00a0management purposes as historical experience \u00a0indicates that financial assets that meet either \u00a0of the following criteria are generally not \u00a0recoverable: \u00a0\n
\n \n \u2022\n
\n \n When there is a breach of financial cov- \u00a0 enants by the debtor \u00a0\n
\n \n \u2022\n
\n \n Information developed internally or obtained \u00a0 from external sources indicates that the \u00a0debtor is unlikely to pay its creditors, includ- \u00a0ing the group, in full (without taking into \u00a0account any collateral held by the group). \u00a0\n
\n Irrespective of the above analysis, the group \u00a0 considers that default has occurred when a \u00a0financial asset is more than 180 days past due \u00a0unless the group has reasonable and support- \u00a0able information to demonstrate that a more \u00a0lagging default criterion is more appropriate. \u00a0\n
\n \n \n \n (ii) Credit-impaired \ufb01nancial assets \u00a0\n
\n \n A financial asset is credit-impaired when one\u00a0or \u00a0more events that have a detrimental impact on \u00a0the estimated future cash flows of that financial \u00a0asset have occurred. Evidence that a financial \u00a0asset is credit-impaired includes observable \u00a0data about the following events: \u00a0\n
\n \n \u2022\n
\n \n Significant financial difficulty of the issuer \u00a0 or the borrower \u00a0\n
\n \n \u2022\n
\n \n A breach of contract, such as a default or \u00a0 past due event (see (i) above) \u00a0\n
\n \n \n \n \n \n \n \n \u2022 \n \n
\n \n \n The lender(s) of the borrower, for economic or contractual reasons relating to the bor- \u00a0rower\u2019s financial difficulty, having granted \u00a0to the borrower a concession(s) that the \u00a0lender(s) would not otherwise consider \u00a0\n
\n \n \n \u2022\n
\n \n \n It is becoming probable that the borrower \u00a0 will enter bankruptcy or other financial \u00a0reorganisation \u00a0\n
\n \n \n \u2022\n
\n \n \n The disappearance of an active market for \u00a0 that financial asset because of financial \u00a0difficulties \u00a0\n
\n \n \n (iii) Write-off policy \u00a0\n
\n \n \n The group writes off a financial asset when \u00a0 there is information indicating that the debtor \u00a0is in severe financial difficulty and there is no \u00a0realistic prospect of recovery, e.g. when the \u00a0debtor has been placed under liquidation or hasentered into bankruptcy proceedings, or in the \u00a0case of trade receivables, when the amounts \u00a0are over two years past due, whichever oc- \u00a0curs sooner. Financial assets written off may \u00a0still be subject to enforcement activities underthe group\u2019s recovery procedures, taking into \u00a0account legal advice where appropriate. Any re- \u00a0coveries made are recognised in profit or loss.\n
\n \n \n Impairment losses and reversals of impair- \u00a0 ment losses on trade receivables and contractassets are recognized in depreciation, amortisa- \u00a0tion and impairment expenses in the consoli-dated statement of comprehensive income.Impairment losses and reversals of impairmentlosses on other financial assets at amortized \u00a0cost are recognized in depreciation, amortisation \u00a0and impairment expenses the consolidated \u00a0statement of comprehensive income. \u00a0\n
\n \n \n SUBSEQUENT MEASUREMENT \u00a0\n
\n \n \n Derecognition of \ufb01nancial assets \u00a0\n
\n \n Financial assets are derecognized when the \u00a0contractual rights to the cash \ufb02ows from the \u00a0\ufb01nancial asset expire or have been transferred \u00a0and substantially all the risks and rewards of \u00a0ownership are considered to have been \u00a0transferred. \u00a0\n
\n \n On derecognition of a \ufb01nancial asset, the differ- \u00a0 ence between the carrying amount and the \u00a0sum of the consideration received, net of \u00a0transaction costs, including any new asset ob- \u00a0tained less any new liability assumed and \u00a0any cumulative gain or loss deferred in other \u00a0comprehensive income, is recognized in consoli- \u00a0dated statement of comprehensive income. \u00a0\n
\n \n \n \n \n 5. FAIR\u00a0VALUE MEASUREMENT \u00a0\n
\n \n \n The Group measures \ufb01nancial instruments at \u00a0 fair value at each balance sheet date. \u00a0The fair value of non-\ufb01nancial assets is deter- \u00a0mined for the purpose of the impairment test \u00a0and for disclosure purposes. As per IFRS 13 \u00a0de\ufb01nition of fair value is the price that would be \u00a0received to sell an asset or paid to \u00a0transfer a liability in an orderly transaction be- \u00a0tween market participants at the measurement \u00a0date. The fair value measurement is based on \u00a0the presumption that the transaction to sell the \u00a0asset or transfer the liability takes place either: \u00a0\n
\n \n \n \u2022\n
\n \n In the principal market for the asset or \u00a0 liability, or \u00a0\n
\n \n \u2022\n
\n \n In the absence of a principal market, in the \u00a0 most advantageous market for the asset or \u00a0liability \u00a0\n
\n \n \n The principal or the most advantageous market \u00a0 must be accessible to by the Group. The fair \u00a0value of an asset or a liability is measured using \u00a0the assumptions that market participants would \u00a0use when pricing the asset or liability, assuming \u00a0that market participants act in their economic \u00a0best interest. A fair value measurement of a \u00a0non-\ufb01nancial asset takes into account a market \u00a0participant\u2019s ability to generate economic bene- \u00a0\ufb01ts by using the asset in its highest and best use \u00a0or by selling it to another market participant that \u00a0would use the asset in its highest and best use. \u00a0The Group uses valuation techniques that are \u00a0appropriate in the circumstances and for which \u00a0suf\ufb01cient data are available to measure fair \u00a0value, maximising the use of relevant observable \u00a0inputs and minimising the use of unobservable \u00a0inputs. All assets and liabilities for which fair \u00a0value is measured or disclosed in the \ufb01nancial \u00a0statements are categorised within the fair value \u00a0hierarchy, described as follows, based on the \u00a0lowest level of input that is signi\ufb01cant to the fair \u00a0value measurement as a whole: \u00a0\n
\n \n \n \n \n \n \n Level 1 \u2014 Quoted (unadjusted) market prices in \u00a0 active markets for identical assets or liabilities \u00a0\n
\n Level 2 \u2014 Valuation techniques for which the \u00a0lowest level input that is signi\ufb01cant to the fair \u00a0value measurement is directly or indirectly ob- \u00a0servable \u00a0\n
\n Level 3 \u2014 Valuation techniques for which the \u00a0 lowest level input that is signi\ufb01cant to the fair \u00a0value measurement is unobservable \u00a0\n
\n For assets and liabilities that are recognised \u00a0 in the consolidated \ufb01nancial statements on a \u00a0recurring basis, the Group determines whether \u00a0transfers have occurred between Levels in the \u00a0hierarchy by re-assessing categorisation (based \u00a0on the lowest level input that is signi\ufb01cant to the \u00a0fair value measurement as a whole) at the end \u00a0of each reporting period. \u00a0\n
\n \n \n The lifetime credit loss of trade receivables was \u00a0 determined for each customer based on data \u00a0from an external rating agency. \u00a0\n
\n \n \n ",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialAssetsExplanatory",
"language": "en",
"entity": "scheme:391200TZVOLI3RYBWS74",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"esef-43513_2023": {
"value": "\n \n \n \n h\n
\n \n FINANCIAL \u00a0\n
\n \n INSTRUMENTS \u00a0\n
\n \n A financial instrument is any contract that gives \u00a0 rise to a financial asset of one entity\u00a0and a \u00a0financial liability or equity instrument of another \u00a0entity. Financial instruments in the form of fi- \u00a0nancial assets and financial liabilities are gener- \u00a0ally presented separately. Financial instruments \u00a0are recognized as soon as the Group becomes \u00a0a party to the contractual provisions of the \u00a0financial instrument. In the case of purchases \u00a0or sales of financial assets through the regular \u00a0market, H2APEX uses the transaction date as \u00a0the date of initial recognition or derecognition. \u00a0Upon initial recognition, financial instruments \u00a0are measured at fair value. \u00a0\n
\n \n \n \n \n FINANCIAL LIABILITIES \u00a0\n
\n \n \n Classi\ufb01cation and measurement of \ufb01nancial li- \u00a0 abilities \u00a0\n
\n \n Financial liabilities are classi\ufb01ed at initial recog- \u00a0 nition and initially measured at fair value, plus \u00a0or minus any transaction costs, and then sub- \u00a0sequently at amortized cost using the effective \u00a0interest rate method. \u00a0\n
\n \n \n \n \n Financial liabilities are classi\ufb01ed, at initial recogni- \u00a0tion, as \ufb01nancial liabilities at fair value through \u00a0pro\ufb01t or loss, loans and borrowings, payables\u00a0as \u00a0appropriate. The Group determines the classi\ufb01ca- \u00a0tion of its \ufb01nancial liabilities at initial recognition. \u00a0\n
\n \n \n \n \n \n \n Subsequent measurement \u00a0\n
\n \n Loans and borrowings \u00a0\n
\n \n After initial recognition, interest-bearing loans \u00a0and borrowings are subsequently measured \u00a0at amortised cost using effective interest rate \u00a0method. Gains and losses are recognised in pro\ufb01t \u00a0or loss when the liabilities are derecognised aswell as through the EIR amortisation process. \u00a0\n
\n \n \n \n \n Derecognition of \ufb01nancial liabilities \u00a0\n
\n Financial liabilities are derecognized where they \u00a0are extinguished, i.e., when the obligation deriv- \u00a0ing from the liability has been discharged or \u00a0cancelled, or it has expired. When there is an \u00a0exchange of debt instruments between the Group \u00a0and the counterparty, provided that they have \u00a0substantially different conditions, the original \u00a0\ufb01nancial liability is eliminated, and the new\u00a0\ufb01nan- \u00a0cial liability is recognized. Similarly, any substan- \u00a0tial modi\ufb01cation to the current conditions affect- \u00a0ing a \ufb01nancial liability is recognized. \u00a0\n
\n \n \n \n \n 5. FAIR\u00a0VALUE MEASUREMENT \u00a0\n
\n \n \n The Group measures \ufb01nancial instruments at \u00a0 fair value at each balance sheet date. \u00a0The fair value of non-\ufb01nancial assets is deter- \u00a0mined for the purpose of the impairment test \u00a0and for disclosure purposes. As per IFRS 13 \u00a0de\ufb01nition of fair value is the price that would be \u00a0received to sell an asset or paid to \u00a0transfer a liability in an orderly transaction be- \u00a0tween market participants at the measurement \u00a0date. The fair value measurement is based on \u00a0the presumption that the transaction to sell the \u00a0asset or transfer the liability takes place either: \u00a0\n
\n \n \n \u2022\n
\n \n In the principal market for the asset or \u00a0 liability, or \u00a0\n
\n \n \u2022\n
\n \n In the absence of a principal market, in the \u00a0 most advantageous market for the asset or \u00a0liability \u00a0\n
\n \n \n The principal or the most advantageous market \u00a0 must be accessible to by the Group. The fair \u00a0value of an asset or a liability is measured using \u00a0the assumptions that market participants would \u00a0use when pricing the asset or liability, assuming \u00a0that market participants act in their economic \u00a0best interest. A fair value measurement of a \u00a0non-\ufb01nancial asset takes into account a market \u00a0participant\u2019s ability to generate economic bene- \u00a0\ufb01ts by using the asset in its highest and best use \u00a0or by selling it to another market participant that \u00a0would use the asset in its highest and best use. \u00a0The Group uses valuation techniques that are \u00a0appropriate in the circumstances and for which \u00a0suf\ufb01cient data are available to measure fair \u00a0value, maximising the use of relevant observable \u00a0inputs and minimising the use of unobservable \u00a0inputs. All assets and liabilities for which fair \u00a0value is measured or disclosed in the \ufb01nancial \u00a0statements are categorised within the fair value \u00a0hierarchy, described as follows, based on the \u00a0lowest level of input that is signi\ufb01cant to the fair \u00a0value measurement as a whole: \u00a0\n
\n \n \n \n Level 1 \u2014 Quoted (unadjusted) market prices in \u00a0 active markets for identical assets or liabilities \u00a0\n
\n Level 2 \u2014 Valuation techniques for which the \u00a0lowest level input that is signi\ufb01cant to the fair \u00a0value measurement is directly or indirectly ob- \u00a0servable \u00a0\n
\n Level 3 \u2014 Valuation techniques for which the \u00a0 lowest level input that is signi\ufb01cant to the fair \u00a0value measurement is unobservable \u00a0\n
\n For assets and liabilities that are recognised \u00a0 in the consolidated \ufb01nancial statements on a \u00a0recurring basis, the Group determines whether \u00a0transfers have occurred between Levels in the \u00a0hierarchy by re-assessing categorisation (based \u00a0on the lowest level input that is signi\ufb01cant to the \u00a0fair value measurement as a whole) at the end \u00a0of each reporting period. \u00a0\n
\n ",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialLiabilitiesExplanatory",
"language": "en",
"entity": "scheme:391200TZVOLI3RYBWS74",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"esef-43564_2023": {
"value": "\n \n \n Impairment of \ufb01nancial assets at \u00a0 amortized cost \u00a0\n
\n \n The Group recognizes value adjustments relat- ing to expected credit losses on financial as-sets measured at amortized cost and contractassets. \u00a0\n
\n \n The Group applies the simplified approach of \u00a0 calculating the expected credit loss of its finan- \u00a0cial assets. \u00a0\n
\n \n The simplified approach considers expected \u00a0 credit losses for lifetime plus any additional \u00a0 provisioning if additional indicators for \u00a0 credit losses were indicated. The \u00a0 Group assumes that the credit risk of a financial \u00a0instrument has not increased significantly since \u00a0its initial recognition if the financial instrument \u00a0has a low credit risk at the closing date. \u00a0\n
\n \n \n \n \n (ii) Credit-impaired \ufb01nancial assets \u00a0\n
\n \n A financial asset is credit-impaired when one\u00a0or \u00a0more events that have a detrimental impact on \u00a0the estimated future cash flows of that financial \u00a0asset have occurred. Evidence that a financial \u00a0asset is credit-impaired includes observable \u00a0data about the following events: \u00a0\n
\n \n \u2022\n
\n \n Significant financial difficulty of the issuer \u00a0 or the borrower \u00a0\n
\n \n \u2022\n
\n \n A breach of contract, such as a default or \u00a0 past due event (see (i) above) \u00a0\n
\n \n \n \n \n \n \n \n \u2022 \n \n
\n \n \n \n \n \n \n The lender(s) of the borrower, for economic or contractual reasons relating to the bor- \u00a0rower\u2019s financial difficulty, having granted \u00a0to the borrower a concession(s) that the \u00a0lender(s) would not otherwise consider \u00a0\n
\n \n \n \n \n \n \n \u2022\n
\n \n \n \n \n \n \n It is becoming probable that the borrower \u00a0 will enter bankruptcy or other financial \u00a0reorganisation \u00a0\n
\n \n \n \n \n \n \n \u2022\n
\n \n \n \n \n \n \n The disappearance of an active market for \u00a0 that financial asset because of financial \u00a0difficulties \u00a0\n
\n \n \n \n \n \n \n (iii) Write-off policy \u00a0\n
\n \n \n \n The group writes off a financial asset when \u00a0 there is information indicating that the debtor \u00a0is in severe financial difficulty and there is no \u00a0realistic prospect of recovery, e.g. when the \u00a0debtor has been placed under liquidation or hasentered into bankruptcy proceedings, or in the \u00a0case of trade receivables, when the amounts \u00a0are over two years past due, whichever oc- \u00a0curs sooner. Financial assets written off may \u00a0still be subject to enforcement activities underthe group\u2019s recovery procedures, taking into \u00a0account legal advice where appropriate. Any re- \u00a0coveries made are recognised in profit or loss.\n
\n \n \n \n Impairment losses and reversals of impair- \u00a0 ment losses on trade receivables and contractassets are recognized in depreciation, amortisa- \u00a0tion and impairment expenses in the consoli-dated statement of comprehensive income.Impairment losses and reversals of impairmentlosses on other financial assets at amortized \u00a0cost are recognized in depreciation, amortisation \u00a0and impairment expenses the consolidated \u00a0statement of comprehensive income. \u00a0\n
\n \n \n \n The lifetime credit loss of trade receivables was \u00a0 determined for each customer based on data \u00a0from an external rating agency. \u00a0\n
\n ",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForTradeAndOtherReceivablesExplanatory",
"language": "en",
"entity": "scheme:391200TZVOLI3RYBWS74",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"esef-43522_2023": {
"value": "\n \n Impairment of \ufb01nancial assets at \u00a0 amortized cost \u00a0\n
\n \n The Group recognizes value adjustments relat- ing to expected credit losses on financial as-sets measured at amortized cost and contractassets. \u00a0\n
\n \n The Group applies the simplified approach of \u00a0 calculating the expected credit loss of its finan- \u00a0cial assets. \u00a0\n
\n \n The simplified approach considers expected \u00a0 credit losses for lifetime plus any additional \u00a0 provisioning if additional indicators for \u00a0 credit losses were indicated. The \u00a0 Group assumes that the credit risk of a financial \u00a0instrument has not increased significantly since \u00a0its initial recognition if the financial instrument \u00a0has a low credit risk at the closing date. \u00a0\n
\n \n \n (ii) Credit-impaired \ufb01nancial assets \u00a0\n
\n \n A financial asset is credit-impaired when one\u00a0or \u00a0more events that have a detrimental impact on \u00a0the estimated future cash flows of that financial \u00a0asset have occurred. Evidence that a financial \u00a0asset is credit-impaired includes observable \u00a0data about the following events: \u00a0\n
\n \n \u2022\n
\n \n Significant financial difficulty of the issuer \u00a0 or the borrower \u00a0\n
\n \n \u2022\n
\n \n A breach of contract, such as a default or \u00a0 past due event (see (i) above) \u00a0\n
\n \n \n \n \n \n \u2022 \n \n
\n \n \n \n \n The lender(s) of the borrower, for economic or contractual reasons relating to the bor- \u00a0rower\u2019s financial difficulty, having granted \u00a0to the borrower a concession(s) that the \u00a0lender(s) would not otherwise consider \u00a0\n
\n \n \n \n \n \u2022\n
\n \n \n \n \n It is becoming probable that the borrower \u00a0 will enter bankruptcy or other financial \u00a0reorganisation \u00a0\n
\n \n \n \n \n \u2022\n
\n \n \n \n \n The disappearance of an active market for \u00a0 that financial asset because of financial \u00a0difficulties \u00a0\n
\n \n \n \n \n (iii) Write-off policy \u00a0\n
\n \n \n \n The group writes off a financial asset when \u00a0 there is information indicating that the debtor \u00a0is in severe financial difficulty and there is no \u00a0realistic prospect of recovery, e.g. when the \u00a0debtor has been placed under liquidation or hasentered into bankruptcy proceedings, or in the \u00a0case of trade receivables, when the amounts \u00a0are over two years past due, whichever oc- \u00a0curs sooner. Financial assets written off may \u00a0still be subject to enforcement activities underthe group\u2019s recovery procedures, taking into \u00a0account legal advice where appropriate. Any re- \u00a0coveries made are recognised in profit or loss.\n
\n \n \n \n Impairment losses and reversals of impair- \u00a0 ment losses on trade receivables and contractassets are recognized in depreciation, amortisa- \u00a0tion and impairment expenses in the consoli-dated statement of comprehensive income.Impairment losses and reversals of impairmentlosses on other financial assets at amortized \u00a0cost are recognized in depreciation, amortisation \u00a0and impairment expenses the consolidated \u00a0statement of comprehensive income. \u00a0\n
\n \n \n \n Cash and cash equivalents, trade receivables, \u00a0 loan and other \ufb01nancial assets are measured at \u00a0 fair value measured at initially fair value while the \u00a0 subsequent measurement is at amortised cost. \u00a0 During the year ended 31 December \u00a0 2023, Impairment of KEUR 307 were recognized \u00a0(2022: EUR 0.00). \u00a0\n
\n \n ",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfFinancialAssetsExplanatory",
"language": "en",
"entity": "scheme:391200TZVOLI3RYBWS74",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"esef-43491_2023": {
"value": "\n \n \n SUBSEQUENT MEASUREMENT \u00a0\n
\n \n \n \n Derecognition of \ufb01nancial assets \u00a0\n
\n \n \n Financial assets are derecognized when the \u00a0contractual rights to the cash \ufb02ows from the \u00a0\ufb01nancial asset expire or have been transferred \u00a0and substantially all the risks and rewards of \u00a0ownership are considered to have been \u00a0transferred. \u00a0\n
\n \n \n On derecognition of a \ufb01nancial asset, the differ- \u00a0 ence between the carrying amount and the \u00a0sum of the consideration received, net of \u00a0transaction costs, including any new asset ob- \u00a0tained less any new liability assumed and \u00a0any cumulative gain or loss deferred in other \u00a0comprehensive income, is recognized in consoli- \u00a0dated statement of comprehensive income. \u00a0\n
\n \n \n \n Derecognition of \ufb01nancial liabilities \u00a0\n
\n Financial liabilities are derecognized where they \u00a0are extinguished, i.e., when the obligation deriv- \u00a0ing from the liability has been discharged or \u00a0cancelled, or it has expired. When there is an \u00a0exchange of debt instruments between the Group \u00a0and the counterparty, provided that they have \u00a0substantially different conditions, the original \u00a0\ufb01nancial liability is eliminated, and the new\u00a0\ufb01nan- \u00a0cial liability is recognized. Similarly, any substan- \u00a0tial modi\ufb01cation to the current conditions affect- \u00a0ing a \ufb01nancial liability is recognized. \u00a0\n
\n ",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForDerecognitionOfFinancialInstrumentsExplanatory",
"language": "en",
"entity": "scheme:391200TZVOLI3RYBWS74",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"esef-43563_2023": {
"value": "\n \n \n \n Financial liabilities are classi\ufb01ed, at initial recogni- \u00a0tion, as \ufb01nancial liabilities at fair value through \u00a0pro\ufb01t or loss, loans and borrowings, payables\u00a0as \u00a0appropriate. The Group determines the classi\ufb01ca- \u00a0tion of its \ufb01nancial liabilities at initial recognition. \u00a0\n
\n \n \n ",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForTradeAndOtherPayablesExplanatory",
"language": "en",
"entity": "scheme:391200TZVOLI3RYBWS74",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"esef-43512_2023": {
"value": "\n \n \n Financial liabilities are classi\ufb01ed, at initial recogni- \u00a0tion, as \ufb01nancial liabilities at fair value through \u00a0pro\ufb01t or loss, loans and borrowings, payables\u00a0as \u00a0appropriate. The Group determines the classi\ufb01ca- \u00a0tion of its \ufb01nancial liabilities at initial recognition. \u00a0\n
\n \n ",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialInstrumentsAtFairValueThroughProfitOrLossExplanatory",
"language": "en",
"entity": "scheme:391200TZVOLI3RYBWS74",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"esef-43478_2023": {
"value": "\n \n Financial liabilities are classi\ufb01ed, at initial recogni- \u00a0tion, as \ufb01nancial liabilities at fair value through \u00a0pro\ufb01t or loss, loans and borrowings, payables\u00a0as \u00a0appropriate. The Group determines the classi\ufb01ca- \u00a0tion of its \ufb01nancial liabilities at initial recognition. \u00a0\n
\n \n \n Subsequent measurement \u00a0\n
\n \n Loans and borrowings \u00a0\n
\n \n After initial recognition, interest-bearing loans \u00a0and borrowings are subsequently measured \u00a0at amortised cost using effective interest rate \u00a0method. Gains and losses are recognised in pro\ufb01t \u00a0or loss when the liabilities are derecognised aswell as through the EIR amortisation process. \u00a0\n
\n \n ",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForBorrowingsExplanatory",
"language": "en",
"entity": "scheme:391200TZVOLI3RYBWS74",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"esef-43549_2023": {
"value": "\n \n i\n
\n \n CONTRACT BALANCES \u00a0\n
\n \n CONTRACT ASSETS \u00a0\n
\n \n A contract asset is initially recognised for rev- \u00a0 enue earned from customer projects because \u00a0the receipt of\u00a0consideration is conditional on \u00a0successful completion of the project. Upon \u00a0completion of the project and acceptance by \u00a0the customer, the amount recognised as con- \u00a0tract assets is reclassified to trade receivables. \u00a0\n
\n \n CONTRACT LIABILITIES \u00a0\n
\n \n Contract liabilities are recognized in relation to prepayments of customers where the delivery \u00a0of the related service will happen over time. \u00a0\n
\n \n \n n\n
\n \n RECOGNITION \u00a0\n
\n \n OF REVENUE \u00a0\n
\n \n The Group is in the business of providing ser- \u00a0 vices and products in the field of regenerative \u00a0energies. Revenue from contract with custom- \u00a0ers is recognized when control of the goods and \u00a0project services are transferred to the custom- \u00a0ers. The Group assesses whether a transaction \u00a0is comprised of different components, in order \u00a0to apply the appropriate income recognition \u00a0criteria to each one. Revenue from providing \u00a0service and selling goods are recognized at the \u00a0fair value of the consideration received or receiv- \u00a0able. \u00a0\n
\n \n REVENUE FROM PROJECT DEVELOPMENT \u00a0\n
\n The Group recognises revenue from project \u00a0 development over time any other use of the \u00a0developed project would burden the contrac- \u00a0tor with considerable losses, no alternative use \u00a0outside of the intended use can be attested for \u00a0the service. The agreements made in project \u00a0development contracts guarantee the Group ap- \u00a0propriate remuneration for the services rendered \u00a0in each case. \u00a0\n
\n \n The Group uses an input method in measuring \u00a0 progress input-orientated according to the cost- \u00a0to-cost method.\u00a0The cost-oriented approach to \u00a0performance measurement is based on the ratio \u00a0of the fulfilment costs incurred up to the assess- \u00a0ment date to the total costs expected for the \u00a0provision of the services owed. \u00a0\n
\n \n The Group regularly checks if the contract is \u00a0 onerous and make provision where appropriate. \u00a0\n
\n \n REVENUE FROM OWN OPERATIONS \u00a0\n
\n \n Revenue from own operations is recognized at \u00a0 the point in time when the delivery is made to \u00a0the customer. \u00a0\n
\n ",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForRecognitionOfRevenue",
"language": "en",
"entity": "scheme:391200TZVOLI3RYBWS74",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"esef-43518_2023": {
"value": "\n \n j\n
\n \n GOVERNMENT GRANTS \u00a0\n
\n \n Government grants are recognized at fair value if there is reasonable assurance that the grantwill be received, and group will comply with \u00a0all attached conditions. Government grants \u00a0include short allowance for the employee and \u00a0non-repayable subsidy granted by the govern- \u00a0ment whose purpose is to finance intangible \u00a0assets. \u00a0\n
\n \n Grants awarded for the purchase or the produc- tion of fixed assets (grants related to assets) \u00a0are generally offset against the acquisition or \u00a0production costs of the respective assets and \u00a0reduce future depreciations accordingly. Grants \u00a0awarded for other than non-current assets \u00a0(grants related to income) are reported in the \u00a0consolidated statements of comprehensive \u00a0income under the same functional area as the \u00a0corresponding expenses. They are recognized \u00a0as income over the periods necessary to match \u00a0them on a systematic basis to the costs that \u00a0are intended to be compensated. Government \u00a0grants for future expenses are recorded as \u00a0deferred income. \u00a0\n
\n \n In the financial year government grants are \u00a0 recognized in other income KEUR 484 \u00a0(2022: KEUR 238) using the income approach. \u00a0\n
\n ",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForGovernmentGrants",
"language": "en",
"entity": "scheme:391200TZVOLI3RYBWS74",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"esef-43500_2023": {
"value": "\n \n k\n
\n \n EMPLOYEE BENEFITS \u00a0\n
\n \n DEFINED CONTRIBUTION PLANS \u00a0\n
\n \n The Group recognizes the contributions payable \u00a0 to a defined contribution plan in exchange for a \u00a0service when an employee has rendered service \u00a0to the Company. The amount of the contribu- \u00a0tions accrued is recognized as an employee \u00a0benefits expense. \u00a0\n
\n \n SHORT-TERM EMPLOYEE BENEFITS \u00a0\n
\n \n Short-term employee benefits are different from \u00a0 termination benefits that are expected to be set- \u00a0tled in full before 12 months after the end of the \u00a0reporting period in which the employees render \u00a0the related services. \u00a0\n
\n \n The Group recognizes the expected cost of \u00a0 profit-sharing and bonus plans when it has a \u00a0present legal or constructive obligation to make \u00a0such payments as a result of past events and a \u00a0reliable estimate of the obligation can be made. \u00a0\n
\n \n \n REDUNDANCY INDEMNITIES \u00a0\n
\n Pursuant to current employment law, in certain \u00a0 circumstances the Group is liable to pay redun- \u00a0dancy indemnities to employees whose services \u00a0are discontinued. \u00a0\n
\n ",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForEmployeeBenefitsExplanatory",
"language": "en",
"entity": "scheme:391200TZVOLI3RYBWS74",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"esef-43562_2023": {
"value": "\n REDUNDANCY INDEMNITIES \u00a0\n
\n Pursuant to current employment law, in certain \u00a0 circumstances the Group is liable to pay redun- \u00a0dancy indemnities to employees whose services \u00a0are discontinued. \u00a0\n
",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForTerminationBenefits",
"language": "en",
"entity": "scheme:391200TZVOLI3RYBWS74",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"esef-43558_2023": {
"value": "\n \n \n l\n
\n \n SHARE-BASED \u00a0\n
\n \n PAYMENTS \u00a0\n
\n \n Under the Stock Option Program (\u201cSOP\u201d) \u00a0 2023, stock options are granted in 2023 to \u00a0the following groups of participants: \u00a0\n
\n \n i. \u00a0\n
\n \n member of the supervisory board of the \u00a0 Company; \u00a0\n
\n \n ii. \n
\n \n members\u00a0of the management of affiliated companies; and \u00a0\n
\n \n iii. key\u00a0employees of affiliated companies \u00a0\n
\n \n Stock options granted to a participant will vest in instalments over a four-year vesting periodas follows: The stock options shall vest by 1/16for each full quarter of a year following thegrant date subject to the condition that a periodof twelve (12) months following the grant date \u00a0(the \u201ccliff period\u201d) has expired (each date on \u00a0which stock options vest, a \u201cvesting date\u201d). TheCompany granted 1,740,000 stock options in \u00a02023 under these terms and conditions. \u00a0\n
\n \n Any time period in which the participant does \u00a0 not work for H2APEX Group and H2APEX \u00a0Group does not owe the whole compensation \u00a0agreed under the employment or service agree-ment to the participant, as applicable (e.g., inthe case of extended periods of illness, uncom-pensated release from duty to work, parental \u00a0leave, excluding for the avoidance of doubt, ma- \u00a0ternity leave) shall suspend the vesting of stock \u00a0options for that time period and the four-year \u00a0vesting period will be extended accordingly. \u00a0\n
\n \n Additionally, the Company granted 660,000 \u00a0 stock options to the Chairman of the Supervi- \u00a0sory Board, which have been vested immedi- \u00a0ately at grant date. These stock options have to \u00a0be exercised until 31 December 2027. \u00a0\n
\n \n The exercise price for each of the granted stock \u00a0 options shall be EUR 5.50. \u00a0\n
\n \n The fair value of the stock options is estimated \u00a0 at the grant date using the binomial option pric- \u00a0ing model, taking into account the terms and \u00a0conditions on which the stock options were \u00a0granted. The stock options can be exercised \u00a0after the vesting period. There are no cash\u00a0set- \u00a0tlement alternatives. The Group does not have a \u00a0past practice of cash settlement for these\u00a0stock \u00a0options. \u00a0\n
\n \n The Group accounts for the stock options as an \u00a0 equity-settled plan. The grant date fair value of \u00a0equity-settled share-based payment arrange- \u00a0ments granted to employees is recognized as an \u00a0expense with a corresponding increase in equity, \u00a0over the vesting period of the awards. The \u00a0amount recognized as an expense is adjusted \u00a0to reflect the number of awards for which the \u00a0related service and non-market performance \u00a0conditions are expected to be met, such that the \u00a0amount ultimately recognized is based on the \u00a0number of awards that meet the related service \u00a0and non-market performance conditions at the \u00a0vesting date. For share-based payment awards \u00a0with non-vesting conditions, the grant-date fair \u00a0value of the share-based payment is measured \u00a0to reflect such conditions and there is no true- \u00a0up for differences between expected and actual \u00a0outcomes. \u00a0\n
\n \n ",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForSharebasedPaymentTransactionsExplanatory",
"language": "en",
"entity": "scheme:391200TZVOLI3RYBWS74",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"esef-43546_2023": {
"value": "\n \n \n m PROVISIONS \u00a0\n
\n \n Provisions are recognized when the Group \u00a0 has a present obligation, legal or constructive \u00a0arising of from a past event, it is probable that \u00a0an outflow of resources embodying economic \u00a0benefits will be required to settle the obliga- \u00a0tion, and a reliable estimate can be made of theamount of the obligation. \u00a0\n
\n \n The amounts recognized in the consolidated \u00a0 statement of financial position as a provision \u00a0is the best estimate of the expenditure requiredto settle the present obligation at the end of thereporting period, taking into account all risks \u00a0and uncertainties surrounding the amount to be \u00a0recognized as a provision and, where the time \u00a0value of money is material, the financial effect \u00a0of discounting provided that the expenditure tobe made each period can be reliably estimated.The discount rate is determined before taxes, \u00a0considering money temporary value, as well\u00a0asthe specific risks that have not been consid- \u00a0ered in the future flows related to the provision \u00a0at each closing date. \u00a0\n
\n \n Single obligations are valued by the individual \u00a0 outcome that is most probable. \u00a0\n
\n \n If it is not probable that an outflow of resources will be required to settle an obligation, the pro-vision is reversed. The reversal is made againstthe Consolidated statement of comprehensive \u00a0income items in which the corresponding \u00a0expense was recorded and the excess, if any, isrecognized under other income. \u00a0\n
\n \n \n Contingent liabilities are possible obligations \u00a0 arising from past events and whose existence \u00a0will be confirmed only upon the occurrence or \u00a0non-occurrence of one or more uncertain fu- \u00a0ture events not wholly within the control of the \u00a0Group. Contingent liabilities are not recognizedbut only disclosed in the notes to the consoli- \u00a0dated financial statements. \u00a0\n
\n \n \n ",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForProvisionsExplanatory",
"language": "en",
"entity": "scheme:391200TZVOLI3RYBWS74",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"esef-43477_2023": {
"value": "\n \n o\n
\n \n BORROWING COSTS \u00a0\n
\n \n Borrowing cost directly attributable to the ac- \u00a0 quisition, construction or production of assets \u00a0that necessarily takes a substantial period to \u00a0get ready for its intended use are capitalized aspart of the cost of the assets. All other borrow-ing cost are expensed in the period in which \u00a0they occur. \u00a0\n
\n ",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForBorrowingCostsExplanatory",
"language": "en",
"entity": "scheme:391200TZVOLI3RYBWS74",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"esef-43524_2023": {
"value": "\n \n p\n
\n \n INCOME TAX \u00a0\n
\n \n The year\u2019s income tax expense or benefit \u00a0 comprises current tax and deferred tax. Current \u00a0and deferred tax are recognized as income or \u00a0an expense and included in the Consolidated \u00a0statement of comprehensive income, except tothe extent that the tax arises from a transac- \u00a0tion or event which is recognized, in the same \u00a0or a different year, directly in equity, or from a \u00a0business combination. \u00a0\n
\n \n The Group recognizes deductions for invest- \u00a0 ment by applying the recognition and meas- \u00a0urement criteria of the assets for current or \u00a0deferred tax, unless they have the nature of a \u00a0grant. If the deductions have the nature of a \u00a0grant, they are recognized, presented and val- \u00a0ued by applying the corresponding accounting \u00a0policy. For these purposes, the Group consid- \u00a0ers that the deductions whose application \u00a0is independent of the existence of a positive \u00a0integral fee and that have substantive opera- \u00a0tional conditions additional to the realization or \u00a0maintenance of the investment are subsidized. \u00a0\n
\n \n CURRENT TAX \u00a0\n
\n \n Current income tax assets and liabilities are \u00a0 measured at the amount expected to be recov- \u00a0ered from or paid to tax authorities using the \u00a0tax rates and tax laws enacted or substantially \u00a0enacted at the reporting date where the consol- \u00a0idated entity is domiciled. Management periodi- \u00a0cally evaluates positions taken in tax returns \u00a0\n
\n \n with respect to situations in which applicable \u00a0 tax regulations are subject to interpretation and \u00a0establishes provisions where appropriate. \u00a0\n
\n \n The Companies of the H2APEX Group are sub- \u00a0 ject to German income tax respectively Luxem- \u00a0bourg income tax. \u00a0\n
\n \n \n DEFERRED TAX \u00a0\n
\n \n Deferred income tax is provided, using\u00a0the \u00a0 liability method, on all temporary differences \u00a0at the balance sheet date between the tax \u00a0bases of assets and liabilities and their carrying \u00a0amounts for financial reporting purposes. \u00a0\n
\n \n Deferred tax liabilities are the amounts pay- \u00a0 able in the future as income tax related to \u00a0taxable temporary differences while deferred \u00a0tax assets are the amounts to be recovered \u00a0as income tax due to the existence of deduct- \u00a0ible temporary differences, taxable negative \u00a0tax bases or deductions pending application. \u00a0For these purposes, a temporary difference \u00a0is understood as the difference between the \u00a0book value of assets and liabilities and their tax \u00a0base. \u00a0\n
\n \n RECOGNITION OF DEFERRED \u00a0\n
\n \n TAX LIABILITIES \u00a0\n
\n \n The Group recognizes deferred tax liabilities in \u00a0 all cases except if: \u00a0\n
\n \n \u2022\n
\n \n they arise from the initial recognition of \u00a0 goodwill or an asset or liability in a trans- \u00a0action that is not a business combination \u00a0and, at the time of the transaction, affects \u00a0neither accounting profit nor taxable in- \u00a0come; \u00a0\n
\n \n \u2022\n
\n \n they correspond to differences related to \u00a0 investments in subsidiaries, associates \u00a0and joint ventures over which the Group \u00a0has the ability to control the time of its re- \u00a0versal and it is not probable that its rever- \u00a0sal will occur in the foreseeable future. \u00a0\n
\n \n \n \n \n RECOGNITION OF DEFERRED TAX ASSETS \u00a0\n
\n \n The Group recognizes deferred tax assets as \u00a0 long as: \u00a0\n
\n \n \u2022\n
\n \n it is probable that sufficient taxable \u00a0 income will be available against which \u00a0they can be utilized or when tax legisla- \u00a0tion envisages the possibility of convertingdeferred tax assets into a receivable from \u00a0public entities in the future. However, the \u00a0assets arising from the initial recognition \u00a0of assets or liabilities in a transaction that \u00a0is not a business combination and at the \u00a0date of the transaction does not affect \u00a0either the accounting result or the taxable \u00a0income, are not recognized; and they cor- \u00a0respond to temporary differences related \u00a0to investments in subsidiaries, associates \u00a0and joint ventures insofar as the temporary \u00a0differences will revert in the foreseeable \u00a0future and positive future fiscal gains are \u00a0expected to offset the differences. \u00a0\n
\n \n It is considered probable that the Group has \u00a0 sufficient tax profits to recover deferred tax as- \u00a0sets, provided there are temporary differences \u00a0taxable in sufficient amount, related to the \u00a0same tax authority and to the same taxpayer, \u00a0the reversal of which is expected in the same \u00a0fiscal year in which the deductible temporary \u00a0differences are expected to reverse or in years \u00a0in which a tax loss, arising from a deductible \u00a0temporary difference, can be offset by previous \u00a0or subsequent earnings. \u00a0\n
\n \n In order to determine future tax profits, the \u00a0 Group takes into account tax planning opportu- \u00a0nities, provided that it intends to adopt them or \u00a0is likely to adopt them. \u00a0\n
\n \n \n OFFSETTING OF TAX ASSETS \u00a0\n
\n \n AND LIABILITIES \u00a0\n
\n \n The Group only offsets current tax assets\u00a0and \u00a0 liabilities if there is a legal right against the tax \u00a0authorities and intention to settle the resulting \u00a0tax due at their net amount or to realize the as- \u00a0sets and settle the liability simultaneously. \u00a0\n
\n ",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForIncomeTaxExplanatory",
"language": "en",
"entity": "scheme:391200TZVOLI3RYBWS74",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"esef-43489_2023": {
"value": "\n \n DEFERRED TAX \u00a0\n
\n \n Deferred income tax is provided, using\u00a0the \u00a0 liability method, on all temporary differences \u00a0at the balance sheet date between the tax \u00a0bases of assets and liabilities and their carrying \u00a0amounts for financial reporting purposes. \u00a0\n
\n \n Deferred tax liabilities are the amounts pay- \u00a0 able in the future as income tax related to \u00a0taxable temporary differences while deferred \u00a0tax assets are the amounts to be recovered \u00a0as income tax due to the existence of deduct- \u00a0ible temporary differences, taxable negative \u00a0tax bases or deductions pending application. \u00a0For these purposes, a temporary difference \u00a0is understood as the difference between the \u00a0book value of assets and liabilities and their tax \u00a0base. \u00a0\n
\n \n RECOGNITION OF DEFERRED \u00a0\n
\n \n TAX LIABILITIES \u00a0\n
\n \n The Group recognizes deferred tax liabilities in \u00a0 all cases except if: \u00a0\n
\n \n \u2022\n
\n \n they arise from the initial recognition of \u00a0 goodwill or an asset or liability in a trans- \u00a0action that is not a business combination \u00a0and, at the time of the transaction, affects \u00a0neither accounting profit nor taxable in- \u00a0come; \u00a0\n
\n \n \u2022\n
\n \n they correspond to differences related to \u00a0 investments in subsidiaries, associates \u00a0and joint ventures over which the Group \u00a0has the ability to control the time of its re- \u00a0versal and it is not probable that its rever- \u00a0sal will occur in the foreseeable future. \u00a0\n
\n \n \n RECOGNITION OF DEFERRED TAX ASSETS \u00a0\n
\n \n The Group recognizes deferred tax assets as \u00a0 long as: \u00a0\n
\n \n \u2022\n
\n \n it is probable that sufficient taxable \u00a0 income will be available against which \u00a0they can be utilized or when tax legisla- \u00a0tion envisages the possibility of convertingdeferred tax assets into a receivable from \u00a0public entities in the future. However, the \u00a0assets arising from the initial recognition \u00a0of assets or liabilities in a transaction that \u00a0is not a business combination and at the \u00a0date of the transaction does not affect \u00a0either the accounting result or the taxable \u00a0income, are not recognized; and they cor- \u00a0respond to temporary differences related \u00a0to investments in subsidiaries, associates \u00a0and joint ventures insofar as the temporary \u00a0differences will revert in the foreseeable \u00a0future and positive future fiscal gains are \u00a0expected to offset the differences. \u00a0\n
\n \n It is considered probable that the Group has \u00a0 sufficient tax profits to recover deferred tax as- \u00a0sets, provided there are temporary differences \u00a0taxable in sufficient amount, related to the \u00a0same tax authority and to the same taxpayer, \u00a0the reversal of which is expected in the same \u00a0fiscal year in which the deductible temporary \u00a0differences are expected to reverse or in years \u00a0in which a tax loss, arising from a deductible \u00a0temporary difference, can be offset by previous \u00a0or subsequent earnings. \u00a0\n
\n \n In order to determine future tax profits, the \u00a0 Group takes into account tax planning opportu- \u00a0nities, provided that it intends to adopt them or \u00a0is likely to adopt them. \u00a0\n
\n ",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForDeferredIncomeTaxExplanatory",
"language": "en",
"entity": "scheme:391200TZVOLI3RYBWS74",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"esef-43556_2023": {
"value": "\n \n 3. SEGMENT INFORMATION \u00a0\n
\n \n For management purposes, the Group is organ- \u00a0 ised into business units based on its products \u00a0and services and has four reportable segments, \u00a0as follows: \u00a0\n
\n \n PROJECT DEVELOPMENT \u00a0\n
\n \n The Project Development Segment includes all \u00a0 project development and system integration for \u00a0third-party hydrogen plants. The turnkey solu- \u00a0tions for the supply of hydrogen are modular, \u00a0tech-agnostic and tailor-made to comply with \u00a0complex and diverse customer requirements. \u00a0\n
\n \n OWN OPERATIONS \u00a0\n
\n \n The Own Operations Segment includes the pro- \u00a0 duction and selling of green hydrogen as well as \u00a0the \u201cderivatives\u201d electricity and heat generated at \u00a0its own hydrogen plants. \u00a0\n
\n \n STORAGE SEGMENT \u00a0\n
\n \n The Storage Segment includes the development \u00a0 and manufacturing of different hydrogen storage \u00a0systems. \u00a0\n
\n \n OTHERS \u00a0\n
\n \n Others Includes costs for the holding and prop- \u00a0 erty companies and the acquisition and manage- \u00a0ment of properties mainly in connection with the \u00a0production of green hydrogen. \u00a0\n
\n \n The Executive Management Committee is the \u00a0 Chief Operating Decision Maker (CODM) and \u00a0monitors the operating results of its business \u00a0units separately for the purpose of making \u00a0decisions about resource allocation and perfor- \u00a0mance assessment. Segment performance is \u00a0evaluated based on pro\ufb01t or loss and is meas- \u00a0ured consistently with pro\ufb01t or loss in the con- \u00a0solidated \ufb01nancial statements. Also, the Group\u2019s \u00a0income taxes are managed on a Group basis and \u00a0are not allocated to operating segments. \u00a0\n
\n \n Transfer prices between operating segments are \u00a0 on an arm\u2019s length basis in a manner similar to \u00a0transactions with third parties. \u00a0\n
\n \n Inter-segment revenues are eliminated upon \u00a0 consolidation and re\ufb02ected in the adjustments \u00a0and eliminations\u2019 column. All other adjustments \u00a0and eliminations are part of detailed reconcilia- \u00a0tions presented further below. \u00a0\n
\n ADJUSTMENTS AND ELIMINATIONS \u00a0\n
\n Capital expenditure consists of additions of \u00a0 property, plant and equipment, intangible assets \u00a0and investment\u00a0properties including assets \u00a0from the acquisition of subsidiaries. Inter-seg- \u00a0ment revenues are eliminated on consolidation. \u00a0\n
\n ",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForSegmentReportingExplanatory",
"language": "en",
"entity": "scheme:391200TZVOLI3RYBWS74",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"esef-43382_2023": {
"value": "\n \n Consolidated statement of pro\ufb01t and loss and \u00a0 other disclosures by segment: \u00a0\n
\n \n
\n \n \n \n \n \n \n \n \n \n \n \n \n | 01.01.2023-31.12.2023 (in EUR 1,000) | \n Notes | \n Project Develop- ment | \n Own Opera- tions | \n Storage | \n Other | \n Adjust- ments and elimina- tions | \n Consolidated | \n
\n \n | Revenues | \n 25 | \n 15,851 | \n 477 | \n 0 | \n 0 | \n (1,032) | \n 15,297 | \n
\n \n | own work capitalized | \n | \n 50 | \n 0 | \n 0 | \n 0 | \n 0 | \n 50 | \n
\n \n | Other Income | \n | \n 1,015 | \n 10 | \n 185 | \n 108 | \n (277) | \n 1,041 | \n
\n \n | Cost of materials | \n 26 | \n (13,717) | \n (463) | \n (8) | \n 0 | \n 503 | \n (13,684) | \n
\n \n | Employee bene\ufb01ts expense | \n 27 | \n (5,903) | \n 0 | \n (670) | \n (316) | \n 0 | \n (6,889) | \n
\n \n | depreciation and amortisation expense | \n 6, 7 | \n (2,555) | \n (1,350) | \n (46) | \n (237) | \n 0 | \n (4,188) | \n
\n \n | other expenses | \n 28 | \n (7,555) | \n (229) | \n (622) | \n (5,889) | \n 513 | \n (13,781) | \n
\n \n | Financial results | \n | \n | \n | \n | \n | \n | \n | \n
\n \n | Income/Loss from equity investments | \n 8 | \n (275) | \n 0 | \n 0 | \n 0 | \n 0 | \n (275) | \n
\n \n | Income from other securities, interest and similar income | \n 29 | \n 137 | \n 55 | \n 0 | \n 19,302 | \n (18,815) | \n 679 | \n
\n \n | Interest and similar expenses | \n 30 | \n (4,909) | \n 0 | \n (26) | \n (1,313) | \n 3,793 | \n (2,456) | \n
\n \n | \n | \n (5,048) | \n 55 | \n (26) | \n 17,989 | \n (15,022) | \n (2,052) | \n
\n \n | Income taxes | \n 10 | \n (49) | \n 0 | \n 0 | \n (380) | \n 0 | \n (429) | \n
\n \n | Net income | \n | \n (17,911) | \n (1,499) | \n (1,185) | \n 11,275 | \n (15,314) | \n (24,635) | \n
\n \n | Total assets | \n | \n 94,757 | \n 7,281 | \n 5,148 | \n 363,519 | \n (348,250) | \n 122,454 | \n
\n \n | Total liabilities | \n | \n 113,890 | \n 4,070 | \n 2,798 | \n 31,089 | \n (87,262) | \n 64,585 | \n
\n \n | CAPITAL EXPENDITURES | \n | \n 722 | \n 4,729 | \n 4,373 | \n 1,854 | \n 0 | \n 11,677 | \n
\n \n
\n
\n
\n \n \n \n \n \n \n \n \n \n \n \n \n | 01.01.2022-31.12.2022 (in EUR 1,000) | \n Notes | \n Project Develop- ment | \n Own Opera- tions | \n Storage | \n Other | \n Adjust- ments and elimina- tions | \n Consolidated | \n
\n \n | Revenues | \n 25 | \n 3,780 | \n 189 | \n 0 | \n 0 | \n (120) | \n 3,848 | \n
\n \n | own work capitalized | \n | \n 0 | \n 0 | \n 0 | \n 0 | \n 0 | \n 0 | \n
\n \n | Other Income | \n | \n 550 | \n 9 | \n 0 | \n 0 | \n (27) | \n 532 | \n
\n \n | Cost of materials | \n 26 | \n (3,095) | \n (143) | \n (1) | \n 0 | \n 120 | \n (3,118) | \n
\n \n | Employee bene\ufb01ts expense | \n 27 | \n (3,722) | \n 0 | \n (24) | \n 0 | \n 0 | \n (3,746) | \n
\n \n | depreciation and amortisation expense | \n 6, 7 | \n (1,279) | \n 0 | \n (0) | \n 0 | \n 0 | \n (1,280) | \n
\n \n | other expenses | \n 28 | \n (4,440) | \n (875) | \n (13) | \n (1,457) | \n 26 | \n (6,760) | \n
\n \n | Financial results | \n | \n | \n | \n | \n | \n | \n | \n
\n \n | Income/Loss from equity investments | \n 8 | \n 0 | \n 0 | \n 0 | \n 0 | \n 0 | \n 0 | \n
\n \n | Income from other securities, interest and similar income | \n 29 | \n 284 | \n 0 | \n 0 | \n 2,535 | \n (2,306) | \n 512 | \n
\n \n | Interest and similar expenses | \n 30 | \n (5,081) | \n 0 | \n 0 | \n 0 | \n 1,205 | \n (3,877) | \n
\n \n | \n | \n (4,798) | \n 0 | \n 0 | \n 2,535 | \n (1,101) | \n (3,364) | \n
\n \n | Income taxes | \n 10 | \n 935 | \n 0 | \n 0 | \n 0 | \n 0 | \n 935 | \n
\n \n | Net income | \n | \n (12,069) | \n (821) | \n (38) | \n 1,078 | \n (1,102) | \n (12,953) | \n
\n \n | Total assets | \n | \n 56,889 | \n 2,721 | \n 9 | \n 65,958 | \n (63,842) | \n 61,734 | \n
\n \n | Total liabilities | \n | \n 84,302 | \n 3,341 | \n 24 | \n 43,819 | \n (61,735) | \n 69,751 | \n
\n \n | CAPITAL EXPENDITURES | \n | \n 81 | \n 1,510 | \n 1 | \n 0 | \n 0 | \n 1,592 | \n
\n \n
\n
All revenues originate from Germany. \u00a0\n
\n \n There are four customers (2022: 2), each with \u00a0 a share of over 10% in the Project Development \u00a0segment. There is 1 customer (2022: 1) with a \u00a0share of over 10% in the Own operations seg- \u00a0ment. \u00a0\n
\n ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfEntitysReportableSegmentsExplanatory",
"language": "en",
"entity": "scheme:391200TZVOLI3RYBWS74",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"esef-43379_2023": {
"value": "\n \n \n 4. EARNINGS\u00a0PER SHARE \u00a0\n
\n Earnings per share (EPS) is calculated by divid- \u00a0 ing the pro\ufb01t attributable to the ordinary share- \u00a0holders of the company by the weighted averagenumber of ordinary shares outstanding during \u00a0the period excluding ordinary shares purchased \u00a0by the Company and held as Treasury Shares. \u00a0\n
\n BASIC EARNINGS PER SHARE \u00a0\n
\n \n The calculation of basic EPS at 31 December \u00a0 2023 is based on the pro\ufb01t attributable to the \u00a0owners of the parent and the weighted aver- \u00a0age number of Ordinary Shares outstanding of \u00a036,359,162 Class A Shares (2022: 20,073,695 \u00a0Class A Shares). \u00a0\n
\n \n \n \n
\n \n \n \n \n \n \n \n \n | BASIC EARNINGS PER SHARE | \n | \n 2023 | \n 2022 | \n
\n \n | Pro\ufb01t / (Loss) for continued operations for the year (EUR 1,000) attributable | \n Ordinary Shares | \n (24,689) | \n (12,953) | \n
\n \n | to equity holders of the Company | \n | \n | \n | \n
\n \n | Weighted average number of ordinary shares outstanding | \n Ordinary Shares | \n 35,556,043 | \n 20,073,695 | \n
\n \n | Basic earnings / (loss) per share (Euro/share) on total group | \n Ordinary Shares | \n (0.69) | \n (0.65) | \n
\n \n | Diluted weighted average number of ordinary shares outstanding | \n Ordinary Shares | \n 36,470,016 | \n 20,073,695 | \n
\n \n | Diluted earnings / (loss) per share (Euro/share) on total group | \n Ordinary Shares | \n (0.69) | \n (0.65) | \n
\n \n
\n
DILUTIVE EARNINGS PER SHARE \u00a0\n
\n Diluted EPS are calculated by increasing the av- \u00a0 erage number of shares outstanding by the totalnumber of potential shares arising from option \u00a0rights. The Group has outstanding 2,400,000 \u00a0share options from the Stock Option Program \u00a0(SOP). \u00a0\n
\n Should the share options of the Stock Option \u00a0 Program (SOP) be exercised, the total number \u00a0of ordinary Shares would increase by 2,400,000 \u00a0to 38,759,162 Ordinary Shares, having minor \u00a0impact on the EPS. Share options from the SOP \u00a0not exercised within the contractual time frame \u00a0expire without any redemption and have no \u00a0dilutive impact on the EPS. \u00a0\n
\n ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfEarningsPerShareExplanatory",
"language": "en",
"entity": "scheme:391200TZVOLI3RYBWS74",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"esef-43498_2023": {
"value": "Earnings per share (EPS) is calculated by divid- \u00a0 ing the pro\ufb01t attributable to the ordinary share- \u00a0holders of the company by the weighted averagenumber of ordinary shares outstanding during \u00a0the period excluding ordinary shares purchased \u00a0by the Company and held as Treasury Shares. \u00a0\n
",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForEarningsPerShareExplanatory",
"language": "en",
"entity": "scheme:391200TZVOLI3RYBWS74",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"esef-43388_2023": {
"value": "\n \n \n The fair value measurement hierarchy as at 31 \u00a0 December 2023 as follows: \u00a0\n
\n \n \n \n \n
\n \n \n \n \n \n \n \n \n \n \n \n | \n | \n | \n Quoted | \n | \n Signi\ufb01cant | \n | \n
\n \n | \n | \n | \n prices | \n Signi\ufb01cant | \n unob- | \n | \n
\n \n | \n | \n | \n in active | \n observa- | \n servable | \n | \n
\n \n | \n | \n | \n markets | \n ble inputs | \n inputs | \n | \n
\n \n | (IN EUR 1,000) | \n Date of valuation | \n At cost | \n (Level 1) | \n (Level 2) | \n (level 3) | \n Total | \n
\n \n | FINANCIAL ASSETS | \n | \n | \n | \n | \n | \n | \n
\n \n | Other \ufb01nancial investments | \n 31 December 2023 | \n 2,749 | \n 0 | \n 0 | \n 2,475 | \n 2,474 | \n
\n \n | Trade receivables | \n 31 December 2023 | \n 5,673 | \n 0 | \n 5,641 | \n 0 | \n 5,641 | \n
\n \n | Other \ufb01nancial assets | \n 31 December 2023 | \n 558 | \n 0 | \n 554 | \n 0 | \n 554 | \n
\n \n | Cash and cash equivalents | \n 31 December 2023 | \n 44,466 | \n 0 | \n 44,466 | \n 0 | \n 44,466 | \n
\n \n | Non-\ufb01nancial assets | \n | \n | \n | \n | \n | \n | \n
\n \n | Prepayments | \n 31 December 2023 | \n 4,669 | \n 0 | \n 4,574 | \n 0 | \n 4,574 | \n
\n \n | Inventories | \n 31 December 2023 | \n 912 | \n 0 | \n 210 | \n 0 | \n 210 | \n
\n \n | Contract assets | \n 31 December 2023 | \n 5,984 | \n 0 | \n 5,941 | \n 0 | \n 5,941 | \n
\n \n | Total assets | \n | \n 65,028 | \n 0 | \n 61,385 | \n 2,474 | \n 63,859 | \n
\n \n | Financial liabilities | \n | \n | \n | \n | \n | \n | \n
\n \n | Debts with credit institutions | \n 31 December 2023 | \n 164 | \n 0 | \n 163 | \n 0 | \n 163 | \n
\n \n | Trade and other payables | \n 31 December 2023 | \n 5,176 | \n 0 | \n 5,176 | \n 0 | \n 5,176 | \n
\n \n | Financial liabilities | \n 31 December 2023 | \n 43,557 | \n 0 | \n 43,557 | \n 0 | \n 43,557 | \n
\n \n | Total liabilities | \n | \n 48,896 | \n 0 | \n 48,896 | \n 0 | \n 48,896 | \n
\n \n
\n
Cash and cash equivalents, trade receivables, \u00a0 loan and other \ufb01nancial assets are measured at \u00a0 fair value measured at initially fair value while the \u00a0 subsequent measurement is at amortised cost. \u00a0 During the year ended 31 December \u00a0 2023, Impairment of KEUR 307 were recognized \u00a0(2022: EUR 0.00). \u00a0\n
\n \n \n \n Other receivables are measured at amortized \u00a0 cost. However, due to their short-term nature, \u00a0the carrying value of these items approximates \u00a0their fair value. \u00a0\n
\n \n \n Below are their fair values and carrying \u00a0 amounts of the Group \ufb01nancial liabilities \u00a0as at 31 December 2023 and as \u00a0\n
\n \n at 31 December 2022: \u00a0\n
\n \n \n \n
\n \n \n \n \n \n \n \n \n \n \n \n \n | \n Non-current | \n Current | \n | \n
\n \n | 31/12/2023 | \n Carrying | \n | \n | \n Carrying | \n | \n | \n Grand | \n
\n \n | (in EUR 1,000) | \n Amount | \n Fair Value | \n Total | \n Amount | \n Fair Value | \n Total | \n total | \n
\n \n | Financial liabilities from bond issue | \n 0 | \n 0 | \n 0 | \n 0 | \n 0 | \n 0 | \n 0 | \n
\n \n | Debts with credit institutions | \n 0 | \n 0 | \n 0 | \n 163 | \n 0 | \n 163 | \n 163 | \n
\n \n | Trade and other payables | \n 0 | \n 0 | \n 0 | \n 5,176 | \n 0 | \n 5,176 | \n 5,176 | \n
\n \n | Financial liabilities | \n 33,109 | \n 0 | \n 33,109 | \n 10,448 | \n 0 | \n 10,448 | \n 43,557 | \n
\n \n | Total financial liabilities | \n 33,109 | \n 0 | \n 33,109 | \n 15,787 | \n 0 | \n 15,787 | \n 48,896 | \n
\n \n
\n
\n
\n \n \n \n \n \n \n \n \n \n \n \n \n | \n Non-current | \n Current | \n | \n
\n \n | 31/12/2023 | \n Carrying | \n | \n | \n Carrying | \n | \n | \n Grand | \n
\n \n | (in EUR 1,000) | \n Amount | \n Fair Value | \n Total | \n Amount | \n Fair Value | \n Total | \n total | \n
\n \n | Financial liabilities from bond issue | \n 9,131 | \n 0 | \n 9,131 | \n 0 | \n 0 | \n 0 | \n 9,131 | \n
\n \n | Debts with credit institutions | \n 192 | \n 0 | \n 192 | \n 1,606 | \n 0 | \n 1,606 | \n 1,798 | \n
\n \n | Trade and other payables | \n 0 | \n 0 | \n 0 | \n 6,000 | \n 0 | \n 6,000 | \n 6,000 | \n
\n \n | Financial liabilities | \n 41,140 | \n 0 | \n 41,140 | \n 9,077 | \n 0 | \n 9,077 | \n 50,217 | \n
\n \n | Total financial liabilities | \n 50,464 | \n 0 | \n 50,464 | \n 16,683 | \n 0 | \n 16,683 | \n 67,147 | \n
\n \n
\n
\n The carrying amount of current liabilities \u00a0 approximates their fair value. \u00a0\n
\n \n ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFairValueOfFinancialInstrumentsExplanatory",
"language": "en",
"entity": "scheme:391200TZVOLI3RYBWS74",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"esef-43394_2023": {
"value": "\n \n The fair value measurement hierarchy as at 31 \u00a0 December 2023 as follows: \u00a0\n
\n \n \n \n \n
\n \n \n \n \n \n \n \n \n \n \n \n | \n | \n | \n Quoted | \n | \n Signi\ufb01cant | \n | \n
\n \n | \n | \n | \n prices | \n Signi\ufb01cant | \n unob- | \n | \n
\n \n | \n | \n | \n in active | \n observa- | \n servable | \n | \n
\n \n | \n | \n | \n markets | \n ble inputs | \n inputs | \n | \n
\n \n | (IN EUR 1,000) | \n Date of valuation | \n At cost | \n (Level 1) | \n (Level 2) | \n (level 3) | \n Total | \n
\n \n | FINANCIAL ASSETS | \n | \n | \n | \n | \n | \n | \n
\n \n | Other \ufb01nancial investments | \n 31 December 2023 | \n 2,749 | \n 0 | \n 0 | \n 2,475 | \n 2,474 | \n
\n \n | Trade receivables | \n 31 December 2023 | \n 5,673 | \n 0 | \n 5,641 | \n 0 | \n 5,641 | \n
\n \n | Other \ufb01nancial assets | \n 31 December 2023 | \n 558 | \n 0 | \n 554 | \n 0 | \n 554 | \n
\n \n | Cash and cash equivalents | \n 31 December 2023 | \n 44,466 | \n 0 | \n 44,466 | \n 0 | \n 44,466 | \n
\n \n | Non-\ufb01nancial assets | \n | \n | \n | \n | \n | \n | \n
\n \n | Prepayments | \n 31 December 2023 | \n 4,669 | \n 0 | \n 4,574 | \n 0 | \n 4,574 | \n
\n \n | Inventories | \n 31 December 2023 | \n 912 | \n 0 | \n 210 | \n 0 | \n 210 | \n
\n \n | Contract assets | \n 31 December 2023 | \n 5,984 | \n 0 | \n 5,941 | \n 0 | \n 5,941 | \n
\n \n | Total assets | \n | \n 65,028 | \n 0 | \n 61,385 | \n 2,474 | \n 63,859 | \n
\n \n | Financial liabilities | \n | \n | \n | \n | \n | \n | \n
\n \n | Debts with credit institutions | \n 31 December 2023 | \n 164 | \n 0 | \n 163 | \n 0 | \n 163 | \n
\n \n | Trade and other payables | \n 31 December 2023 | \n 5,176 | \n 0 | \n 5,176 | \n 0 | \n 5,176 | \n
\n \n | Financial liabilities | \n 31 December 2023 | \n 43,557 | \n 0 | \n 43,557 | \n 0 | \n 43,557 | \n
\n \n | Total liabilities | \n | \n 48,896 | \n 0 | \n 48,896 | \n 0 | \n 48,896 | \n
\n \n
\n
8. OTHER\u00a0FINANCIAL \u00a0\n
\n INVESTMENTS \u00a0\n
\n \n
\n \n \n \n \n \n \n \n \n \n \n | \n | \n | \n | \n Amount of investment | \n
\n \n | NAME OF ASSOCIATE | \n Registered of\ufb01ce | \n Activity | \n % ownership | \n 31/12/2023 | \n 31/12/2022 | \n
\n \n | Nuventura GmbH | \n Berlin | \n Technology development | \n < 10% | \n 825 | \n 1,100 | \n
\n \n | Play Ventures Fund II | \n Singapore | \n Investment Fund | \n < 10% | \n 1,649 | \n 0 | \n
\n \n | Total | \n | \n | \n | \n 2,474 | \n 1,100 | \n
\n \n
\n
In the \ufb01nancial year of 2023, the Group recog- \u00a0 nized an impairment loss of 25% of its investment \u00a0in Nuventura GmbH. \u00a0\n
\n The investment in Play Ventures Fund II is pre- \u00a0 sented for the \ufb01rst time in these consolidated \ufb01- \u00a0nancial statements based on the reverse acquisi- \u00a0tion as of 19 January 2023. The total investment \u00a0in this fund is committed for USD 2,500,000 and \u00a0is called by tranches. \u00a0\n
\n \n \n 9. FINANCIAL ASSETS \u00a0\n
\n Classi\ufb01cation of \ufb01nancial assets by category: \u00a0\n
\n \n \n \n
\n \n \n \n \n \n \n \n | (in EUR 1,000) | \n 31/12/2023 | \n 31/12/2022 | \n
\n \n | FINANCIAL ASSETS | \n | \n | \n
\n \n | Other \ufb01nancial investments | \n 2,474 | \n 1,100 | \n
\n \n | Trade receivables | \n 5,641 | \n 724 | \n
\n \n | Other \ufb01nancial assets | \n 554 | \n 12,092 | \n
\n \n | Cash and cash equivalents | \n 44,466 | \n 149 | \n
\n \n | Total | \n 53,134 | \n 14,065 | \n
\n \n
\n
Cash and cash equivalents, trade receivables, \u00a0 loan and other \ufb01nancial assets are measured at \u00a0 fair value measured at initially fair value while the \u00a0 subsequent measurement is at amortised cost. \u00a0 During the year ended 31 December \u00a0 2023, Impairment of KEUR 307 were recognized \u00a0(2022: EUR 0.00). \u00a0\n
\n \n \n \n \n Trade receivables have developed in line with \u00a0 revenue growth. \u00a0\n
\n \n The lifetime credit loss of trade receivables was \u00a0 determined for each customer based on data \u00a0from an external rating agency. \u00a0\n
\n \n \n \n \n \n 13. TRADE\u00a0AND \u00a0\n
\n \n OTHER RECEIVABLES \u00a0\n
\n \n TRADE RECEIVABLES \u00a0\n
\n \n Details of trade receivables are as follows: \u00a0\n
\n \n
\n \n \n \n \n \n \n \n | (in EUR 1,000) | \n 31/12/2023 | \n 31/12/2022 | \n
\n \n | Trade Receivables | \n 5,641 | \n 724 | \n
\n \n
\n
\n Trade receivables are measured at amortised \u00a0 cost. During the year ended 31 December 2023 \u00a0impairments of KEUR 32 were recognized \u00a0(31/12/2022: EUR 0.00). \u00a0\n
\n \n OTHER CURRENT RECEIVABLES \u00a0\n
\n \n Details of other current assets are as follows: \u00a0\n
\n \n \n \n
\n \n \n \n \n \n \n \n | (in EUR 1,000) | \n 31/12/2023 | \n 31/12/2022 | \n
\n \n | Project related advance payments done | \n 4,478 | \n 0 | \n
\n \n | Receivables from shareholders | \n 506 | \n 506 | \n
\n \n | Grants | \n 166 | \n 78 | \n
\n \n | Security and other deposits | \n 47 | \n 8 | \n
\n \n | Loan receivable | \n 0 | \n 10,900 | \n
\n \n | VAT receivable | \n 0 | \n 850 | \n
\n \n | Accrued interest | \n 0 | \n 678 | \n
\n \n | other | \n 197 | \n 354 | \n
\n \n | total | \n 5,395 | \n 13,375 | \n
\n \n
\n
\n Other receivables are measured at amortized \u00a0 cost. However, due to their short-term nature, \u00a0the carrying value of these items approximates \u00a0their fair value. \u00a0\n
\n \n The movement of the loan receivable for the \u00a0 years ended 31 December 2023 and 2022 is \u00a0explained by the fact that RLG GmbH & Co. KG \u00a0\n
\n \n has been consolidated for the \ufb01rst time in 2023. \u00a0 For that reason the loan receivable has been \u00a0eliminated as an intercompany receivable during \u00a0the year ended 31 December 2023 as part of the \u00a0initial consolidation of the RLG GmbH & Co. KG. \u00a0\n
\n \n \n 14. CASH\u00a0AND CASH \u00a0\n
\n EQUIVALENTS \u00a0\n
\n Details of cash and cash equivalents are as fol- \u00a0 lows: \u00a0\n
\n \n
\n \n \n \n \n \n \n \n | (in EUR 1,000) | \n 31/12/2023 | \n 31/12/2022 | \n
\n \n | Cash on hand | \n 2 | \n 1 | \n
\n \n | Cash on bank | \n 44,464 | \n 148 | \n
\n \n | Total | \n 44,466 | \n 149 | \n
\n \n
\n
As of 31 December 2023 EUR 9,683,353.50 \u00a0 (2022: EUR 0.00) cash and cash equivalents \u00a0were restricted. \u00a0\n
\n \n \n 16. FINANCIAL\u00a0LIABILITIES \u00a0\n
\n \n BY CATEGORY \u00a0\n
\n \n Classi\ufb01cation of liabilities by category \u00a0\n
\n \n \n \n Below are their fair values and carrying \u00a0 amounts of the Group \ufb01nancial liabilities \u00a0as at 31 December 2023 and as \u00a0\n
\n \n at 31 December 2022: \u00a0\n
\n \n \n \n
\n \n \n \n \n \n \n \n \n \n \n \n \n | \n Non-current | \n Current | \n | \n
\n \n | 31/12/2023 | \n Carrying | \n | \n | \n Carrying | \n | \n | \n Grand | \n
\n \n | (in EUR 1,000) | \n Amount | \n Fair Value | \n Total | \n Amount | \n Fair Value | \n Total | \n total | \n
\n \n | Financial liabilities from bond issue | \n 0 | \n 0 | \n 0 | \n 0 | \n 0 | \n 0 | \n 0 | \n
\n \n | Debts with credit institutions | \n 0 | \n 0 | \n 0 | \n 163 | \n 0 | \n 163 | \n 163 | \n
\n \n | Trade and other payables | \n 0 | \n 0 | \n 0 | \n 5,176 | \n 0 | \n 5,176 | \n 5,176 | \n
\n \n | Financial liabilities | \n 33,109 | \n 0 | \n 33,109 | \n 10,448 | \n 0 | \n 10,448 | \n 43,557 | \n
\n \n | Total financial liabilities | \n 33,109 | \n 0 | \n 33,109 | \n 15,787 | \n 0 | \n 15,787 | \n 48,896 | \n
\n \n
\n
\n
\n \n \n \n \n \n \n \n \n \n \n \n \n | \n Non-current | \n Current | \n | \n
\n \n | 31/12/2023 | \n Carrying | \n | \n | \n Carrying | \n | \n | \n Grand | \n
\n \n | (in EUR 1,000) | \n Amount | \n Fair Value | \n Total | \n Amount | \n Fair Value | \n Total | \n total | \n
\n \n | Financial liabilities from bond issue | \n 9,131 | \n 0 | \n 9,131 | \n 0 | \n 0 | \n 0 | \n 9,131 | \n
\n \n | Debts with credit institutions | \n 192 | \n 0 | \n 192 | \n 1,606 | \n 0 | \n 1,606 | \n 1,798 | \n
\n \n | Trade and other payables | \n 0 | \n 0 | \n 0 | \n 6,000 | \n 0 | \n 6,000 | \n 6,000 | \n
\n \n | Financial liabilities | \n 41,140 | \n 0 | \n 41,140 | \n 9,077 | \n 0 | \n 9,077 | \n 50,217 | \n
\n \n | Total financial liabilities | \n 50,464 | \n 0 | \n 50,464 | \n 16,683 | \n 0 | \n 16,683 | \n 67,147 | \n
\n \n
\n
\n The carrying amount of current liabilities \u00a0 approximates their fair value. \u00a0\n
\n \n \n \n \n \n Financial liabilities as at 31 December 2023 are \u00a0 due to loans and interests from Related parties \u00a0KEUR 33,109 (31/12/2022: KEUR 31,313). \u00a0\n
\n \n \n \n \n \n Financial liabilities include accumulated interest \u00a0 which were not paid as at 31 December 2023 of \u00a0in KEUR 1,337 (31/12/2022: KEUR 2,042). \u00a0\n
\n \n \n \n \n 17. FINANCIAL\u00a0LIABILITIES \u00a0\n
\n \n FROM BOND ISSUANCE \u00a0\n
\n \n At 31 December 2023, the liabilities from bonds \u00a0 and notes issue are comprised of: \u00a0\n
\n \n \n \n
\n \n \n \n \n \n \n \n | (in EUR 1,000) | \n 31/12/2023 | \n 31/12/2022 | \n
\n \n | Bonds and notes outstanding, nominal | \n 0 | \n 8,900 | \n
\n \n | Unamortized issue costs | \n 0 | \n 0 | \n
\n \n | Net carrying amount | \n 0 | \n 8,900 | \n
\n \n | Effective interest rate | \n 0 | \n 0 | \n
\n \n | Accrued interest | \n 0 | \n 231 | \n
\n \n | Total | \n 0 | \n 9,131 | \n
\n \n
\n
\n Movement of \ufb01nancial liabilities from Bond \u00a0 issuance during the year ended 31 December \u00a02023 is as follows: \u00a0\n
\n \n
\n \n \n \n \n \n \n \n \n \n \n | \n | \n Issue incl. | \n conversion | \n Reim- | \n | \n
\n \n | (IN EUR 1,000) | \n 31/12/2022 | \n Interests | \n into equity | \n bursement | \n 31/12/2023 | \n
\n \n | Bonds | \n 9,131 | \n 534 | \n 0 | \n 9,666 | \n 0 | \n
\n \n
\n
20. TRADE\u00a0PAYABLES \u00a0\n
\n Details of trade payables are as follows: \u00a0\n
\n \n
\n \n \n \n \n \n \n \n | (in EUR 1,000) | \n 31/12/2023 | \n 31/12/2022 | \n
\n \n | Trade payables | \n 5,176 | \n 6,000 | \n
\n \n
\n
\n 31. RECONCILIATION\u00a0OF \u00a0\n
\n \n FINANCIAL LIABILITIES \u00a0\n
\n \n FROM FINANCING ACTIVITIES \u00a0\n
\n \n Movement in liabilities classi\ufb01ed as \ufb01nancing \u00a0 activities in the consolidated statement of cash \u00a0\ufb02ows, excluded from the equity headings, for the \u00a0years ended 31 December 2023 and 2022, is as \u00a0follows: \u00a0\n
\n \n
\n \n \n \n \n \n \n \n \n \n \n | \n | \n Issue incl. | \n conversion | \n | \n | \n
\n \n | (IN EUR 1,000) | \n 31/12/2022 | \n Interests | \n into equity | \n Payments | \n 31/12/2023 | \n
\n \n | Bonds | \n 9,131 | \n 534 | \n 0 | \n 9,666 | \n 0 | \n
\n \n | Contract liabilites and capital grants | \n 47,538 | \n 0 | \n 0 | \n 3,981 | \n 43,557 | \n
\n \n | Bank borrowings | \n 1,798 | \n 0 | \n 0 | \n 1,635 | \n 163 | \n
\n \n | Total | \n 58,468 | \n 534 | \n 0 | \n 15,282 | \n 43,721 | \n
\n \n
\n
\n
\n \n \n \n \n \n \n \n \n \n \n | \n | \n Issue incl. | \n conversion | \n | \n | \n
\n \n | (IN EUR 1,000) | \n 31/12/2022 | \n Interests | \n into equity | \n Payments | \n 31/12/2023 | \n
\n \n | Bonds | \n 0 | \n 9,131 | \n 0 | \n 0 | \n 9,131 | \n
\n \n | Contract liabilites and capital grants | \n 40,616 | \n 25,322 | \n 6,600 | \n 11,800 | \n 47,538 | \n
\n \n | Bank borrowings | \n 5,941 | \n 0 | \n 0 | \n 4,143 | \n 1,798 | \n
\n \n | Total | \n 46,558 | \n 34,454 | \n 6,600 | \n 15,943 | \n 58,468 | \n
\n \n
\n
The fair value measurement hierarchy as at 31 \u00a0 December 2023 as follows: \u00a0\n
\n \n \n \n \n
\n \n \n \n \n \n \n \n \n \n \n \n | \n | \n | \n Quoted | \n | \n Signi\ufb01cant | \n | \n
\n \n | \n | \n | \n prices | \n Signi\ufb01cant | \n unob- | \n | \n
\n \n | \n | \n | \n in active | \n observa- | \n servable | \n | \n
\n \n | \n | \n | \n markets | \n ble inputs | \n inputs | \n | \n
\n \n | (IN EUR 1,000) | \n Date of valuation | \n At cost | \n (Level 1) | \n (Level 2) | \n (level 3) | \n Total | \n
\n \n | FINANCIAL ASSETS | \n | \n | \n | \n | \n | \n | \n
\n \n | Other \ufb01nancial investments | \n 31 December 2023 | \n 2,749 | \n 0 | \n 0 | \n 2,475 | \n 2,474 | \n
\n \n | Trade receivables | \n 31 December 2023 | \n 5,673 | \n 0 | \n 5,641 | \n 0 | \n 5,641 | \n
\n \n | Other \ufb01nancial assets | \n 31 December 2023 | \n 558 | \n 0 | \n 554 | \n 0 | \n 554 | \n
\n \n | Cash and cash equivalents | \n 31 December 2023 | \n 44,466 | \n 0 | \n 44,466 | \n 0 | \n 44,466 | \n
\n \n | Non-\ufb01nancial assets | \n | \n | \n | \n | \n | \n | \n
\n \n | Prepayments | \n 31 December 2023 | \n 4,669 | \n 0 | \n 4,574 | \n 0 | \n 4,574 | \n
\n \n | Inventories | \n 31 December 2023 | \n 912 | \n 0 | \n 210 | \n 0 | \n 210 | \n
\n \n | Contract assets | \n 31 December 2023 | \n 5,984 | \n 0 | \n 5,941 | \n 0 | \n 5,941 | \n
\n \n | Total assets | \n | \n 65,028 | \n 0 | \n 61,385 | \n 2,474 | \n 63,859 | \n
\n \n | Financial liabilities | \n | \n | \n | \n | \n | \n | \n
\n \n | Debts with credit institutions | \n 31 December 2023 | \n 164 | \n 0 | \n 163 | \n 0 | \n 163 | \n
\n \n | Trade and other payables | \n 31 December 2023 | \n 5,176 | \n 0 | \n 5,176 | \n 0 | \n 5,176 | \n
\n \n | Financial liabilities | \n 31 December 2023 | \n 43,557 | \n 0 | \n 43,557 | \n 0 | \n 43,557 | \n
\n \n | Total liabilities | \n | \n 48,896 | \n 0 | \n 48,896 | \n 0 | \n 48,896 | \n
\n \n
\n
Cash and cash equivalents, trade receivables, \u00a0 loan and other \ufb01nancial assets are measured at \u00a0 fair value measured at initially fair value while the \u00a0 subsequent measurement is at amortised cost. \u00a0 During the year ended 31 December \u00a0 2023, Impairment of KEUR 307 were recognized \u00a0(2022: EUR 0.00). \u00a0\n
\n \n Other receivables are measured at amortized \u00a0 cost. However, due to their short-term nature, \u00a0the carrying value of these items approximates \u00a0their fair value. \u00a0\n
\n \n Below are their fair values and carrying \u00a0 amounts of the Group \ufb01nancial liabilities \u00a0as at 31 December 2023 and as \u00a0\n
\n \n at 31 December 2022: \u00a0\n
\n \n \n \n
\n \n \n \n \n \n \n \n \n \n \n \n \n | \n Non-current | \n Current | \n | \n
\n \n | 31/12/2023 | \n Carrying | \n | \n | \n Carrying | \n | \n | \n Grand | \n
\n \n | (in EUR 1,000) | \n Amount | \n Fair Value | \n Total | \n Amount | \n Fair Value | \n Total | \n total | \n
\n \n | Financial liabilities from bond issue | \n 0 | \n 0 | \n 0 | \n 0 | \n 0 | \n 0 | \n 0 | \n
\n \n | Debts with credit institutions | \n 0 | \n 0 | \n 0 | \n 163 | \n 0 | \n 163 | \n 163 | \n
\n \n | Trade and other payables | \n 0 | \n 0 | \n 0 | \n 5,176 | \n 0 | \n 5,176 | \n 5,176 | \n
\n \n | Financial liabilities | \n 33,109 | \n 0 | \n 33,109 | \n 10,448 | \n 0 | \n 10,448 | \n 43,557 | \n
\n \n | Total financial liabilities | \n 33,109 | \n 0 | \n 33,109 | \n 15,787 | \n 0 | \n 15,787 | \n 48,896 | \n
\n \n
\n
\n
\n \n \n \n \n \n \n \n \n \n \n \n \n | \n Non-current | \n Current | \n | \n
\n \n | 31/12/2023 | \n Carrying | \n | \n | \n Carrying | \n | \n | \n Grand | \n
\n \n | (in EUR 1,000) | \n Amount | \n Fair Value | \n Total | \n Amount | \n Fair Value | \n Total | \n total | \n
\n \n | Financial liabilities from bond issue | \n 9,131 | \n 0 | \n 9,131 | \n 0 | \n 0 | \n 0 | \n 9,131 | \n
\n \n | Debts with credit institutions | \n 192 | \n 0 | \n 192 | \n 1,606 | \n 0 | \n 1,606 | \n 1,798 | \n
\n \n | Trade and other payables | \n 0 | \n 0 | \n 0 | \n 6,000 | \n 0 | \n 6,000 | \n 6,000 | \n
\n \n | Financial liabilities | \n 41,140 | \n 0 | \n 41,140 | \n 9,077 | \n 0 | \n 9,077 | \n 50,217 | \n
\n \n | Total financial liabilities | \n 50,464 | \n 0 | \n 50,464 | \n 16,683 | \n 0 | \n 16,683 | \n 67,147 | \n
\n \n
\n
\n The carrying amount of current liabilities \u00a0 approximates their fair value. \u00a0\n
\n ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFairValueMeasurementExplanatory",
"language": "en",
"entity": "scheme:391200TZVOLI3RYBWS74",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"esef-43358_2023": {
"value": "\n \n \n \n
\n \n \n \n \n \n \n \n \n \n \n \n | \n | \n | \n Quoted | \n | \n Signi\ufb01cant | \n | \n
\n \n | \n | \n | \n prices | \n Signi\ufb01cant | \n unob- | \n | \n
\n \n | \n | \n | \n in active | \n observa- | \n servable | \n | \n
\n \n | \n | \n | \n markets | \n ble inputs | \n inputs | \n | \n
\n \n | (IN EUR 1,000) | \n Date of valuation | \n At cost | \n (Level 1) | \n (Level 2) | \n (level 3) | \n Total | \n
\n \n | FINANCIAL ASSETS | \n | \n | \n | \n | \n | \n | \n
\n \n | Other \ufb01nancial investments | \n 31 December 2023 | \n 2,749 | \n 0 | \n 0 | \n 2,475 | \n 2,474 | \n
\n \n | Trade receivables | \n 31 December 2023 | \n 5,673 | \n 0 | \n 5,641 | \n 0 | \n 5,641 | \n
\n \n | Other \ufb01nancial assets | \n 31 December 2023 | \n 558 | \n 0 | \n 554 | \n 0 | \n 554 | \n
\n \n | Cash and cash equivalents | \n 31 December 2023 | \n 44,466 | \n 0 | \n 44,466 | \n 0 | \n 44,466 | \n
\n \n | Non-\ufb01nancial assets | \n | \n | \n | \n | \n | \n | \n
\n \n | Prepayments | \n 31 December 2023 | \n 4,669 | \n 0 | \n 4,574 | \n 0 | \n 4,574 | \n
\n \n | Inventories | \n 31 December 2023 | \n 912 | \n 0 | \n 210 | \n 0 | \n 210 | \n
\n \n | Contract assets | \n 31 December 2023 | \n 5,984 | \n 0 | \n 5,941 | \n 0 | \n 5,941 | \n
\n \n | Total assets | \n | \n 65,028 | \n 0 | \n 61,385 | \n 2,474 | \n 63,859 | \n
\n \n | Financial liabilities | \n | \n | \n | \n | \n | \n | \n
\n \n | Debts with credit institutions | \n 31 December 2023 | \n 164 | \n 0 | \n 163 | \n 0 | \n 163 | \n
\n \n | Trade and other payables | \n 31 December 2023 | \n 5,176 | \n 0 | \n 5,176 | \n 0 | \n 5,176 | \n
\n \n | Financial liabilities | \n 31 December 2023 | \n 43,557 | \n 0 | \n 43,557 | \n 0 | \n 43,557 | \n
\n \n | Total liabilities | \n | \n 48,896 | \n 0 | \n 48,896 | \n 0 | \n 48,896 | \n
\n \n
\n
\n
\n \n \n \n \n \n \n \n | (in EUR 1,000) | \n 31/12/2023 | \n 31/12/2022 | \n
\n \n | FINANCIAL ASSETS | \n | \n | \n
\n \n | Other \ufb01nancial investments | \n 2,474 | \n 1,100 | \n
\n \n | Trade receivables | \n 5,641 | \n 724 | \n
\n \n | Other \ufb01nancial assets | \n 554 | \n 12,092 | \n
\n \n | Cash and cash equivalents | \n 44,466 | \n 149 | \n
\n \n | Total | \n 53,134 | \n 14,065 | \n
\n \n
\n
Cash and cash equivalents, trade receivables, \u00a0 loan and other \ufb01nancial assets are measured at \u00a0 fair value measured at initially fair value while the \u00a0 subsequent measurement is at amortised cost. \u00a0 During the year ended 31 December \u00a0 2023, Impairment of KEUR 307 were recognized \u00a0(2022: EUR 0.00). \u00a0\n
\n \n \n \n \n 14. CASH\u00a0AND CASH \u00a0\n
\n EQUIVALENTS \u00a0\n
\n Details of cash and cash equivalents are as fol- \u00a0 lows: \u00a0\n
\n \n
\n \n \n \n \n \n \n \n | (in EUR 1,000) | \n 31/12/2023 | \n 31/12/2022 | \n
\n \n | Cash on hand | \n 2 | \n 1 | \n
\n \n | Cash on bank | \n 44,464 | \n 148 | \n
\n \n | Total | \n 44,466 | \n 149 | \n
\n \n
\n
As of 31 December 2023 EUR 9,683,353.50 \u00a0 (2022: EUR 0.00) cash and cash equivalents \u00a0were restricted. \u00a0\n
\n ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfCashAndCashEquivalentsExplanatory",
"language": "en",
"entity": "scheme:391200TZVOLI3RYBWS74",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"esef-43472_2023": {
"value": "\n \n \n
\n \n \n \n \n \n \n \n \n \n \n \n | \n | \n | \n Quoted | \n | \n Signi\ufb01cant | \n | \n
\n \n | \n | \n | \n prices | \n Signi\ufb01cant | \n unob- | \n | \n
\n \n | \n | \n | \n in active | \n observa- | \n servable | \n | \n
\n \n | \n | \n | \n markets | \n ble inputs | \n inputs | \n | \n
\n \n | (IN EUR 1,000) | \n Date of valuation | \n At cost | \n (Level 1) | \n (Level 2) | \n (level 3) | \n Total | \n
\n \n | FINANCIAL ASSETS | \n | \n | \n | \n | \n | \n | \n
\n \n | Other \ufb01nancial investments | \n 31 December 2023 | \n 2,749 | \n 0 | \n 0 | \n 2,475 | \n 2,474 | \n
\n \n | Trade receivables | \n 31 December 2023 | \n 5,673 | \n 0 | \n 5,641 | \n 0 | \n 5,641 | \n
\n \n | Other \ufb01nancial assets | \n 31 December 2023 | \n 558 | \n 0 | \n 554 | \n 0 | \n 554 | \n
\n \n | Cash and cash equivalents | \n 31 December 2023 | \n 44,466 | \n 0 | \n 44,466 | \n 0 | \n 44,466 | \n
\n \n | Non-\ufb01nancial assets | \n | \n | \n | \n | \n | \n | \n
\n \n | Prepayments | \n 31 December 2023 | \n 4,669 | \n 0 | \n 4,574 | \n 0 | \n 4,574 | \n
\n \n | Inventories | \n 31 December 2023 | \n 912 | \n 0 | \n 210 | \n 0 | \n 210 | \n
\n \n | Contract assets | \n 31 December 2023 | \n 5,984 | \n 0 | \n 5,941 | \n 0 | \n 5,941 | \n
\n \n | Total assets | \n | \n 65,028 | \n 0 | \n 61,385 | \n 2,474 | \n 63,859 | \n
\n \n | Financial liabilities | \n | \n | \n | \n | \n | \n | \n
\n \n | Debts with credit institutions | \n 31 December 2023 | \n 164 | \n 0 | \n 163 | \n 0 | \n 163 | \n
\n \n | Trade and other payables | \n 31 December 2023 | \n 5,176 | \n 0 | \n 5,176 | \n 0 | \n 5,176 | \n
\n \n | Financial liabilities | \n 31 December 2023 | \n 43,557 | \n 0 | \n 43,557 | \n 0 | \n 43,557 | \n
\n \n | Total liabilities | \n | \n 48,896 | \n 0 | \n 48,896 | \n 0 | \n 48,896 | \n
\n \n
\n
\n
\n \n \n \n \n \n \n \n | (in EUR 1,000) | \n 31/12/2023 | \n 31/12/2022 | \n
\n \n | FINANCIAL ASSETS | \n | \n | \n
\n \n | Other \ufb01nancial investments | \n 2,474 | \n 1,100 | \n
\n \n | Trade receivables | \n 5,641 | \n 724 | \n
\n \n | Other \ufb01nancial assets | \n 554 | \n 12,092 | \n
\n \n | Cash and cash equivalents | \n 44,466 | \n 149 | \n
\n \n | Total | \n 53,134 | \n 14,065 | \n
\n \n
\n
Cash and cash equivalents, trade receivables, \u00a0 loan and other \ufb01nancial assets are measured at \u00a0 fair value measured at initially fair value while the \u00a0 subsequent measurement is at amortised cost. \u00a0 During the year ended 31 December \u00a0 2023, Impairment of KEUR 307 were recognized \u00a0(2022: EUR 0.00). \u00a0\n
\n \n \n \n \n Trade receivables have developed in line with \u00a0 revenue growth. \u00a0\n
\n \n The lifetime credit loss of trade receivables was \u00a0 determined for each customer based on data \u00a0from an external rating agency. \u00a0\n
\n \n \n \n 13. TRADE\u00a0AND \u00a0\n
\n \n OTHER RECEIVABLES \u00a0\n
\n \n TRADE RECEIVABLES \u00a0\n
\n \n Details of trade receivables are as follows: \u00a0\n
\n \n
\n \n \n \n \n \n \n \n | (in EUR 1,000) | \n 31/12/2023 | \n 31/12/2022 | \n
\n \n | Trade Receivables | \n 5,641 | \n 724 | \n
\n \n
\n
\n Trade receivables are measured at amortised \u00a0 cost. During the year ended 31 December 2023 \u00a0impairments of KEUR 32 were recognized \u00a0(31/12/2022: EUR 0.00). \u00a0\n
\n \n OTHER CURRENT RECEIVABLES \u00a0\n
\n \n Details of other current assets are as follows: \u00a0\n
\n \n \n \n
\n \n \n \n \n \n \n \n | (in EUR 1,000) | \n 31/12/2023 | \n 31/12/2022 | \n
\n \n | Project related advance payments done | \n 4,478 | \n 0 | \n
\n \n | Receivables from shareholders | \n 506 | \n 506 | \n
\n \n | Grants | \n 166 | \n 78 | \n
\n \n | Security and other deposits | \n 47 | \n 8 | \n
\n \n | Loan receivable | \n 0 | \n 10,900 | \n
\n \n | VAT receivable | \n 0 | \n 850 | \n
\n \n | Accrued interest | \n 0 | \n 678 | \n
\n \n | other | \n 197 | \n 354 | \n
\n \n | total | \n 5,395 | \n 13,375 | \n
\n \n
\n
\n Other receivables are measured at amortized \u00a0 cost. However, due to their short-term nature, \u00a0the carrying value of these items approximates \u00a0their fair value. \u00a0\n
\n \n The movement of the loan receivable for the \u00a0 years ended 31 December 2023 and 2022 is \u00a0explained by the fact that RLG GmbH & Co. KG \u00a0\n
\n \n has been consolidated for the \ufb01rst time in 2023. \u00a0 For that reason the loan receivable has been \u00a0eliminated as an intercompany receivable during \u00a0the year ended 31 December 2023 as part of the \u00a0initial consolidation of the RLG GmbH & Co. KG. \u00a0\n
\n ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfTradeAndOtherReceivablesExplanatory",
"language": "en",
"entity": "scheme:391200TZVOLI3RYBWS74",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"esef-43471_2023": {
"value": "\n \n \n
\n \n \n \n \n \n \n \n \n \n \n \n | \n | \n | \n Quoted | \n | \n Signi\ufb01cant | \n | \n
\n \n | \n | \n | \n prices | \n Signi\ufb01cant | \n unob- | \n | \n
\n \n | \n | \n | \n in active | \n observa- | \n servable | \n | \n
\n \n | \n | \n | \n markets | \n ble inputs | \n inputs | \n | \n
\n \n | (IN EUR 1,000) | \n Date of valuation | \n At cost | \n (Level 1) | \n (Level 2) | \n (level 3) | \n Total | \n
\n \n | FINANCIAL ASSETS | \n | \n | \n | \n | \n | \n | \n
\n \n | Other \ufb01nancial investments | \n 31 December 2023 | \n 2,749 | \n 0 | \n 0 | \n 2,475 | \n 2,474 | \n
\n \n | Trade receivables | \n 31 December 2023 | \n 5,673 | \n 0 | \n 5,641 | \n 0 | \n 5,641 | \n
\n \n | Other \ufb01nancial assets | \n 31 December 2023 | \n 558 | \n 0 | \n 554 | \n 0 | \n 554 | \n
\n \n | Cash and cash equivalents | \n 31 December 2023 | \n 44,466 | \n 0 | \n 44,466 | \n 0 | \n 44,466 | \n
\n \n | Non-\ufb01nancial assets | \n | \n | \n | \n | \n | \n | \n
\n \n | Prepayments | \n 31 December 2023 | \n 4,669 | \n 0 | \n 4,574 | \n 0 | \n 4,574 | \n
\n \n | Inventories | \n 31 December 2023 | \n 912 | \n 0 | \n 210 | \n 0 | \n 210 | \n
\n \n | Contract assets | \n 31 December 2023 | \n 5,984 | \n 0 | \n 5,941 | \n 0 | \n 5,941 | \n
\n \n | Total assets | \n | \n 65,028 | \n 0 | \n 61,385 | \n 2,474 | \n 63,859 | \n
\n \n | Financial liabilities | \n | \n | \n | \n | \n | \n | \n
\n \n | Debts with credit institutions | \n 31 December 2023 | \n 164 | \n 0 | \n 163 | \n 0 | \n 163 | \n
\n \n | Trade and other payables | \n 31 December 2023 | \n 5,176 | \n 0 | \n 5,176 | \n 0 | \n 5,176 | \n
\n \n | Financial liabilities | \n 31 December 2023 | \n 43,557 | \n 0 | \n 43,557 | \n 0 | \n 43,557 | \n
\n \n | Total liabilities | \n | \n 48,896 | \n 0 | \n 48,896 | \n 0 | \n 48,896 | \n
\n \n
\n
\n
\n \n \n \n \n \n \n \n \n \n \n \n \n | \n Non-current | \n Current | \n | \n
\n \n | 31/12/2023 | \n Carrying | \n | \n | \n Carrying | \n | \n | \n Grand | \n
\n \n | (in EUR 1,000) | \n Amount | \n Fair Value | \n Total | \n Amount | \n Fair Value | \n Total | \n total | \n
\n \n | Financial liabilities from bond issue | \n 0 | \n 0 | \n 0 | \n 0 | \n 0 | \n 0 | \n 0 | \n
\n \n | Debts with credit institutions | \n 0 | \n 0 | \n 0 | \n 163 | \n 0 | \n 163 | \n 163 | \n
\n \n | Trade and other payables | \n 0 | \n 0 | \n 0 | \n 5,176 | \n 0 | \n 5,176 | \n 5,176 | \n
\n \n | Financial liabilities | \n 33,109 | \n 0 | \n 33,109 | \n 10,448 | \n 0 | \n 10,448 | \n 43,557 | \n
\n \n | Total financial liabilities | \n 33,109 | \n 0 | \n 33,109 | \n 15,787 | \n 0 | \n 15,787 | \n 48,896 | \n
\n \n
\n
\n
\n \n \n \n \n \n \n \n \n \n \n \n \n | \n Non-current | \n Current | \n | \n
\n \n | 31/12/2023 | \n Carrying | \n | \n | \n Carrying | \n | \n | \n Grand | \n
\n \n | (in EUR 1,000) | \n Amount | \n Fair Value | \n Total | \n Amount | \n Fair Value | \n Total | \n total | \n
\n \n | Financial liabilities from bond issue | \n 9,131 | \n 0 | \n 9,131 | \n 0 | \n 0 | \n 0 | \n 9,131 | \n
\n \n | Debts with credit institutions | \n 192 | \n 0 | \n 192 | \n 1,606 | \n 0 | \n 1,606 | \n 1,798 | \n
\n \n | Trade and other payables | \n 0 | \n 0 | \n 0 | \n 6,000 | \n 0 | \n 6,000 | \n 6,000 | \n
\n \n | Financial liabilities | \n 41,140 | \n 0 | \n 41,140 | \n 9,077 | \n 0 | \n 9,077 | \n 50,217 | \n
\n \n | Total financial liabilities | \n 50,464 | \n 0 | \n 50,464 | \n 16,683 | \n 0 | \n 16,683 | \n 67,147 | \n
\n \n
\n
20. TRADE\u00a0PAYABLES \u00a0\n
\n Details of trade payables are as follows: \u00a0\n
\n \n
\n \n \n \n \n \n \n \n | (in EUR 1,000) | \n 31/12/2023 | \n 31/12/2022 | \n
\n \n | Trade payables | \n 5,176 | \n 6,000 | \n
\n \n
\n
\n 6. INTANGIBLE\u00a0ASSETS \u00a0\n
\n \n The composition and movements in intangible assets during year ended 31 December 2023\u00a0and \u00a0 2022 are as follows: \u00a0\n
\n \n \n
\n \n \n \n \n \n \n \n \n \n \n | \n Patents, licenses, trade- | \n Computer | \n Intangible assets | \n | \n | \n
\n \n | (IN EUR 1,000) | \n marks and similar rights | \n software | \n under development | \n Goodwill | \n Total | \n
\n \n | COST: | \n | \n | \n | \n | \n | \n
\n \n | Balance at 1 January 2022 | \n 109 | \n 302 | \n 1,792 | \n 0 | \n 2,203 | \n
\n \n | Additions | \n 14 | \n 0 | \n 572 | \n 0 | \n 587 | \n
\n \n | Disposals | \n 0 | \n 0 | \n 0 | \n 0 | \n 0 | \n
\n \n | Transfers | \n 38 | \n 0 | \n (38) | \n 0 | \n 0 | \n
\n \n | Balance at 31 December 2022 | \n 161 | \n 302 | \n 2,327 | \n 0 | \n 2,789 | \n
\n \n | Balance at 1 January 2023 | \n 161 | \n 302 | \n 2,327 | \n 0 | \n 2,789 | \n
\n \n | Additions | \n 6 | \n 25 | \n 0 | \n 3,771 | \n 3,802 | \n
\n \n | Change in consolidation scope | \n 100 | \n 51 | \n 0 | \n 0 | \n 151 | \n
\n \n | Disposals | \n 0 | \n 0 | \n 817 | \n 0 | \n 817 | \n
\n \n | Transfers | \n 0 | \n 0 | \n 0 | \n 0 | \n 0 | \n
\n \n | Balance at 31 December 2023 | \n 268 | \n 378 | \n 1,509 | \n 3,771 | \n 5,925 | \n
\n \n
\n
\n
\n \n \n \n \n \n \n \n \n \n \n | \n Patents, licenses, trade- | \n Computer | \n Intangible assets | \n | \n | \n
\n \n | (IN EUR 1,000) | \n marks and similar rights | \n software | \n under development | \n Goodwill | \n Total | \n
\n \n | ACCUMULATED AMORTISATION: | \n | \n | \n | \n | \n | \n
\n \n | Balance at 1 January 2022 | \n 99 | \n 91 | \n 0 | \n 0 | \n 190 | \n
\n \n | Amortisation | \n 8 | \n 70 | \n 0 | \n 0 | \n 78 | \n
\n \n | Disposals | \n 0 | \n 0 | \n 0 | \n 0 | \n 0 | \n
\n \n | Transfers | \n 0 | \n 0 | \n 0 | \n 0 | \n 0 | \n
\n \n | Balance at 31 December 2022 | \n 107 | \n 161 | \n 0 | \n 0 | \n 269 | \n
\n \n | Balance at 1 January 2023 | \n 107 | \n 161 | \n 0 | \n 0 | \n 269 | \n
\n \n | Additions | \n (0) | \n 75 | \n 0 | \n 0 | \n 75 | \n
\n \n | Change in consolidation scope | \n 108 | \n 42 | \n 0 | \n 0 | \n 150 | \n
\n \n | Impairment | \n 0 | \n 0 | \n 1,509 | \n 0 | \n 1,509 | \n
\n \n | Disposals | \n 0 | \n 0 | \n 0 | \n 0 | \n 0 | \n
\n \n | Transfers | \n 0 | \n 0 | \n 0 | \n 0 | \n 0 | \n
\n \n | Balance at 31 December 2023 | \n 216 | \n 278 | \n 1,509 | \n 0 | \n 2,003 | \n
\n \n | Carrying amounts: | \n | \n | \n | \n | \n | \n
\n \n | Balance at 31 December 2022 | \n 54 | \n 140 | \n 2,327 | \n 0 | \n 2,521 | \n
\n \n | Balance at 31 December 2023 | \n 52 | \n 100 | \n 0 | \n 3,771 | \n 3,922 | \n
\n \n
\n
\n On 31 December 2023, the Group\u00a0has no com- \u00a0 mitments to acquire intangible assets. \u00a0\n
\n \n \n \n TRANSFER TO RESEARCH EXPENSES. \u00a0\n
\n \n Due to a clari\ufb01cation from public funding provid- ers, KEUR 817 were reclassi\ufb01ed from intangibleassets under construction to development costsin the \ufb01nancial year 2023.\n
\n \n \n \n \n IMPAIRMENT ON INTANGIBLE ASSETS \u00a0\n
\n The\u00a0Impairment on intangible assets in the \u00a0 \ufb01nancial year 2023 is KEUR 1,509 which relate \u00a0to assets that no longer meet the criterion of \u00a0IAS 38.57 (c). \u00a0\n
\n \n \n ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfIntangibleAssetsExplanatory",
"language": "en",
"entity": "scheme:391200TZVOLI3RYBWS74",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"esef-43414_2023": {
"value": "\n \n 6. INTANGIBLE\u00a0ASSETS \u00a0\n
\n \n The composition and movements in intangible assets during year ended 31 December 2023\u00a0and \u00a0 2022 are as follows: \u00a0\n
\n \n \n
\n \n \n \n \n \n \n \n \n \n \n | \n Patents, licenses, trade- | \n Computer | \n Intangible assets | \n | \n | \n
\n \n | (IN EUR 1,000) | \n marks and similar rights | \n software | \n under development | \n Goodwill | \n Total | \n
\n \n | COST: | \n | \n | \n | \n | \n | \n
\n \n | Balance at 1 January 2022 | \n 109 | \n 302 | \n 1,792 | \n 0 | \n 2,203 | \n
\n \n | Additions | \n 14 | \n 0 | \n 572 | \n 0 | \n 587 | \n
\n \n | Disposals | \n 0 | \n 0 | \n 0 | \n 0 | \n 0 | \n
\n \n | Transfers | \n 38 | \n 0 | \n (38) | \n 0 | \n 0 | \n
\n \n | Balance at 31 December 2022 | \n 161 | \n 302 | \n 2,327 | \n 0 | \n 2,789 | \n
\n \n | Balance at 1 January 2023 | \n 161 | \n 302 | \n 2,327 | \n 0 | \n 2,789 | \n
\n \n | Additions | \n 6 | \n 25 | \n 0 | \n 3,771 | \n 3,802 | \n
\n \n | Change in consolidation scope | \n 100 | \n 51 | \n 0 | \n 0 | \n 151 | \n
\n \n | Disposals | \n 0 | \n 0 | \n 817 | \n 0 | \n 817 | \n
\n \n | Transfers | \n 0 | \n 0 | \n 0 | \n 0 | \n 0 | \n
\n \n | Balance at 31 December 2023 | \n 268 | \n 378 | \n 1,509 | \n 3,771 | \n 5,925 | \n
\n \n
\n
\n
\n \n \n \n \n \n \n \n \n \n \n | \n Patents, licenses, trade- | \n Computer | \n Intangible assets | \n | \n | \n
\n \n | (IN EUR 1,000) | \n marks and similar rights | \n software | \n under development | \n Goodwill | \n Total | \n
\n \n | ACCUMULATED AMORTISATION: | \n | \n | \n | \n | \n | \n
\n \n | Balance at 1 January 2022 | \n 99 | \n 91 | \n 0 | \n 0 | \n 190 | \n
\n \n | Amortisation | \n 8 | \n 70 | \n 0 | \n 0 | \n 78 | \n
\n \n | Disposals | \n 0 | \n 0 | \n 0 | \n 0 | \n 0 | \n
\n \n | Transfers | \n 0 | \n 0 | \n 0 | \n 0 | \n 0 | \n
\n \n | Balance at 31 December 2022 | \n 107 | \n 161 | \n 0 | \n 0 | \n 269 | \n
\n \n | Balance at 1 January 2023 | \n 107 | \n 161 | \n 0 | \n 0 | \n 269 | \n
\n \n | Additions | \n (0) | \n 75 | \n 0 | \n 0 | \n 75 | \n
\n \n | Change in consolidation scope | \n 108 | \n 42 | \n 0 | \n 0 | \n 150 | \n
\n \n | Impairment | \n 0 | \n 0 | \n 1,509 | \n 0 | \n 1,509 | \n
\n \n | Disposals | \n 0 | \n 0 | \n 0 | \n 0 | \n 0 | \n
\n \n | Transfers | \n 0 | \n 0 | \n 0 | \n 0 | \n 0 | \n
\n \n | Balance at 31 December 2023 | \n 216 | \n 278 | \n 1,509 | \n 0 | \n 2,003 | \n
\n \n | Carrying amounts: | \n | \n | \n | \n | \n | \n
\n \n | Balance at 31 December 2022 | \n 54 | \n 140 | \n 2,327 | \n 0 | \n 2,521 | \n
\n \n | Balance at 31 December 2023 | \n 52 | \n 100 | \n 0 | \n 3,771 | \n 3,922 | \n
\n \n
\n
\n On 31 December 2023, the Group\u00a0has no com- \u00a0 mitments to acquire intangible assets. \u00a0\n
\n \n \n \n TRANSFER TO RESEARCH EXPENSES. \u00a0\n
\n \n Due to a clari\ufb01cation from public funding provid- ers, KEUR 817 were reclassi\ufb01ed from intangibleassets under construction to development costsin the \ufb01nancial year 2023.\n
\n \n \n \n \n IMPAIRMENT ON INTANGIBLE ASSETS \u00a0\n
\n The\u00a0Impairment on intangible assets in the \u00a0 \ufb01nancial year 2023 is KEUR 1,509 which relate \u00a0to assets that no longer meet the criterion of \u00a0IAS 38.57 (c). \u00a0\n
\n \n ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfIntangibleAssetsAndGoodwillExplanatory",
"language": "en",
"entity": "scheme:391200TZVOLI3RYBWS74",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"esef-43404_2023": {
"value": "\n \n
\n \n \n \n \n \n \n \n \n \n \n | \n Patents, licenses, trade- | \n Computer | \n Intangible assets | \n | \n | \n
\n \n | (IN EUR 1,000) | \n marks and similar rights | \n software | \n under development | \n Goodwill | \n Total | \n
\n \n | COST: | \n | \n | \n | \n | \n | \n
\n \n | Balance at 1 January 2022 | \n 109 | \n 302 | \n 1,792 | \n 0 | \n 2,203 | \n
\n \n | Additions | \n 14 | \n 0 | \n 572 | \n 0 | \n 587 | \n
\n \n | Disposals | \n 0 | \n 0 | \n 0 | \n 0 | \n 0 | \n
\n \n | Transfers | \n 38 | \n 0 | \n (38) | \n 0 | \n 0 | \n
\n \n | Balance at 31 December 2022 | \n 161 | \n 302 | \n 2,327 | \n 0 | \n 2,789 | \n
\n \n | Balance at 1 January 2023 | \n 161 | \n 302 | \n 2,327 | \n 0 | \n 2,789 | \n
\n \n | Additions | \n 6 | \n 25 | \n 0 | \n 3,771 | \n 3,802 | \n
\n \n | Change in consolidation scope | \n 100 | \n 51 | \n 0 | \n 0 | \n 151 | \n
\n \n | Disposals | \n 0 | \n 0 | \n 817 | \n 0 | \n 817 | \n
\n \n | Transfers | \n 0 | \n 0 | \n 0 | \n 0 | \n 0 | \n
\n \n | Balance at 31 December 2023 | \n 268 | \n 378 | \n 1,509 | \n 3,771 | \n 5,925 | \n
\n \n
\n
\n
\n \n \n \n \n \n \n \n \n \n \n | \n Patents, licenses, trade- | \n Computer | \n Intangible assets | \n | \n | \n
\n \n | (IN EUR 1,000) | \n marks and similar rights | \n software | \n under development | \n Goodwill | \n Total | \n
\n \n | ACCUMULATED AMORTISATION: | \n | \n | \n | \n | \n | \n
\n \n | Balance at 1 January 2022 | \n 99 | \n 91 | \n 0 | \n 0 | \n 190 | \n
\n \n | Amortisation | \n 8 | \n 70 | \n 0 | \n 0 | \n 78 | \n
\n \n | Disposals | \n 0 | \n 0 | \n 0 | \n 0 | \n 0 | \n
\n \n | Transfers | \n 0 | \n 0 | \n 0 | \n 0 | \n 0 | \n
\n \n | Balance at 31 December 2022 | \n 107 | \n 161 | \n 0 | \n 0 | \n 269 | \n
\n \n | Balance at 1 January 2023 | \n 107 | \n 161 | \n 0 | \n 0 | \n 269 | \n
\n \n | Additions | \n (0) | \n 75 | \n 0 | \n 0 | \n 75 | \n
\n \n | Change in consolidation scope | \n 108 | \n 42 | \n 0 | \n 0 | \n 150 | \n
\n \n | Impairment | \n 0 | \n 0 | \n 1,509 | \n 0 | \n 1,509 | \n
\n \n | Disposals | \n 0 | \n 0 | \n 0 | \n 0 | \n 0 | \n
\n \n | Transfers | \n 0 | \n 0 | \n 0 | \n 0 | \n 0 | \n
\n \n | Balance at 31 December 2023 | \n 216 | \n 278 | \n 1,509 | \n 0 | \n 2,003 | \n
\n \n | Carrying amounts: | \n | \n | \n | \n | \n | \n
\n \n | Balance at 31 December 2022 | \n 54 | \n 140 | \n 2,327 | \n 0 | \n 2,521 | \n
\n \n | Balance at 31 December 2023 | \n 52 | \n 100 | \n 0 | \n 3,771 | \n 3,922 | \n
\n \n
\n
\n
\n \n \n \n \n \n \n \n \n \n \n | \n Patents, licenses, trade- | \n Computer | \n Intangible assets | \n | \n | \n
\n \n | (IN EUR 1,000) | \n marks and similar rights | \n software | \n under development | \n Goodwill | \n Total | \n
\n \n | ACCUMULATED AMORTISATION: | \n | \n | \n | \n | \n | \n
\n \n | Balance at 1 January 2022 | \n 99 | \n 91 | \n 0 | \n 0 | \n 190 | \n
\n \n | Amortisation | \n 8 | \n 70 | \n 0 | \n 0 | \n 78 | \n
\n \n | Disposals | \n 0 | \n 0 | \n 0 | \n 0 | \n 0 | \n
\n \n | Transfers | \n 0 | \n 0 | \n 0 | \n 0 | \n 0 | \n
\n \n | Balance at 31 December 2022 | \n 107 | \n 161 | \n 0 | \n 0 | \n 269 | \n
\n \n | Balance at 1 January 2023 | \n 107 | \n 161 | \n 0 | \n 0 | \n 269 | \n
\n \n | Additions | \n (0) | \n 75 | \n 0 | \n 0 | \n 75 | \n
\n \n | Change in consolidation scope | \n 108 | \n 42 | \n 0 | \n 0 | \n 150 | \n
\n \n | Impairment | \n 0 | \n 0 | \n 1,509 | \n 0 | \n 1,509 | \n
\n \n | Disposals | \n 0 | \n 0 | \n 0 | \n 0 | \n 0 | \n
\n \n | Transfers | \n 0 | \n 0 | \n 0 | \n 0 | \n 0 | \n
\n \n | Balance at 31 December 2023 | \n 216 | \n 278 | \n 1,509 | \n 0 | \n 2,003 | \n
\n \n | Carrying amounts: | \n | \n | \n | \n | \n | \n
\n \n | Balance at 31 December 2022 | \n 54 | \n 140 | \n 2,327 | \n 0 | \n 2,521 | \n
\n \n | Balance at 31 December 2023 | \n 52 | \n 100 | \n 0 | \n 3,771 | \n 3,922 | \n
\n \n
\n
\n
\n \n \n \n \n \n \n \n \n \n \n \n \n | \n | \n | \n | \n Other | \n Under | \n | \n | \n
\n \n | \n | \n | \n Technical ins- | \n installations, | \n construc- | \n Right | \n | \n
\n \n | \n | \n | \n tallations and | \n equipment | \n tion and | \n of use | \n | \n
\n \n | (in EUR 1,000) | \n Land | \n Buildings | \n machinery | \n and furniture | \n advances | \n Assets | \n Total | \n
\n \n | ACCUMULATED DEPRECIATION: | \n | \n | \n | \n | \n | \n | \n | \n
\n \n | Balance at 1 January 2022 | \n 0 | \n 652 | \n 336 | \n 434 | \n 0 | \n 0 | \n 1,422 | \n
\n \n | Depreciation during the year | \n 0 | \n 228 | \n 644 | \n 325 | \n 0 | \n 0 | \n 1,196 | \n
\n \n | Disposals | \n 0 | \n 0 | \n 0 | \n 0 | \n 0 | \n 0 | \n 0 | \n
\n \n | Transfers | \n 0 | \n 0 | \n 0 | \n 0 | \n 0 | \n 0 | \n 0 | \n
\n \n | Balance at 31 December 2022 | \n 0 | \n 879 | \n 980 | \n 759 | \n 0 | \n 0 | \n 2,618 | \n
\n \n | Balance at 1 January 2023 | \n 0 | \n 879 | \n 980 | \n 759 | \n 0 | \n 0 | \n 2,618 | \n
\n \n | Depreciation during the year | \n 0 | \n 423 | \n 1,592 | \n 256 | \n 0 | \n 333 | \n 2,604 | \n
\n \n | Change in consolidation scope | \n 0 | \n 90 | \n 11 | \n 281 | \n 0 | \n 0 | \n 382 | \n
\n \n | Disposals | \n 0 | \n 0 | \n 0 | \n 0 | \n 0 | \n 0 | \n 0 | \n
\n \n | Transfers | \n 0 | \n 0 | \n 0 | \n 0 | \n 0 | \n 0 | \n 0 | \n
\n \n | Balance at 31 December 2023 | \n 0 | \n 1,392 | \n 2,583 | \n 1,295 | \n 0 | \n 333 | \n 5,604 | \n
\n \n | Carrying amounts: | \n | \n | \n | \n | \n | \n | \n | \n
\n \n | AS AT 31 DECEMBER 2022 | \n 91 | \n 4,917 | \n 23,973 | \n 2,011 | \n 2,538 | \n 0 | \n 33,530 | \n
\n \n | AS AT 31 DECEMBER 2023 | \n 6,912 | \n 11,202 | \n 28,164 | \n 2,145 | \n 3,991 | \n 885 | \n 53,299 | \n
\n \n
\n
\n
\n \n \n \n \n \n \n \n \n \n \n | \n Patents, licenses, trade- | \n Computer | \n Intangible assets | \n | \n | \n
\n \n | (IN EUR 1,000) | \n marks and similar rights | \n software | \n under development | \n Goodwill | \n Total | \n
\n \n | ACCUMULATED AMORTISATION: | \n | \n | \n | \n | \n | \n
\n \n | Balance at 1 January 2022 | \n 99 | \n 91 | \n 0 | \n 0 | \n 190 | \n
\n \n | Amortisation | \n 8 | \n 70 | \n 0 | \n 0 | \n 78 | \n
\n \n | Disposals | \n 0 | \n 0 | \n 0 | \n 0 | \n 0 | \n
\n \n | Transfers | \n 0 | \n 0 | \n 0 | \n 0 | \n 0 | \n
\n \n | Balance at 31 December 2022 | \n 107 | \n 161 | \n 0 | \n 0 | \n 269 | \n
\n \n | Balance at 1 January 2023 | \n 107 | \n 161 | \n 0 | \n 0 | \n 269 | \n
\n \n | Additions | \n (0) | \n 75 | \n 0 | \n 0 | \n 75 | \n
\n \n | Change in consolidation scope | \n 108 | \n 42 | \n 0 | \n 0 | \n 150 | \n
\n \n | Impairment | \n 0 | \n 0 | \n 1,509 | \n 0 | \n 1,509 | \n
\n \n | Disposals | \n 0 | \n 0 | \n 0 | \n 0 | \n 0 | \n
\n \n | Transfers | \n 0 | \n 0 | \n 0 | \n 0 | \n 0 | \n
\n \n | Balance at 31 December 2023 | \n 216 | \n 278 | \n 1,509 | \n 0 | \n 2,003 | \n
\n \n | Carrying amounts: | \n | \n | \n | \n | \n | \n
\n \n | Balance at 31 December 2022 | \n 54 | \n 140 | \n 2,327 | \n 0 | \n 2,521 | \n
\n \n | Balance at 31 December 2023 | \n 52 | \n 100 | \n 0 | \n 3,771 | \n 3,922 | \n
\n \n
\n
\n IMPAIRMENT ON INTANGIBLE ASSETS \u00a0\n
\n The\u00a0Impairment on intangible assets in the \u00a0 \ufb01nancial year 2023 is KEUR 1,509 which relate \u00a0to assets that no longer meet the criterion of \u00a0IAS 38.57 (c). \u00a0\n
\n \n \n IMPAIRMENT ON TANGIBLE ASSETS \u00a0\n
\n \n The annual impairment test was performed with \u00a0 the result that no impairment indicators were \u00a0identi\ufb01ed. \u00a0\n
\n ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfImpairmentOfAssetsExplanatory",
"language": "en",
"entity": "scheme:391200TZVOLI3RYBWS74",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"esef-43338_2023": {
"value": "\n \n \n TRANSFER TO RESEARCH EXPENSES. \u00a0\n
\n \n Due to a clari\ufb01cation from public funding provid- ers, KEUR 817 were reclassi\ufb01ed from intangibleassets under construction to development costsin the \ufb01nancial year 2023.\n
\n \n ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfReclassificationsOrChangesInPresentationExplanatory",
"language": "en",
"entity": "scheme:391200TZVOLI3RYBWS74",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"esef-43458_2023": {
"value": "\n \n TRANSFER TO RESEARCH EXPENSES. \u00a0\n
\n \n Due to a clari\ufb01cation from public funding provid- ers, KEUR 817 were reclassi\ufb01ed from intangibleassets under construction to development costsin the \ufb01nancial year 2023.\n
\n \n \n
\n \n \n \n \n \n \n \n | (in EUR 1,000) | \n 2023 | \n 2022 | \n
\n \n | Legal and consulting fees | \n 4,516 | \n 2,297 | \n
\n \n | Research costs | \n 1,967 | \n 76 | \n
\n \n | Supervisory Board fees | \n 1,933 | \n 0 | \n
\n \n | Bank and otherfees | \n 939 | \n 0 | \n
\n \n | Marketing costs | \n 860 | \n 827 | \n
\n \n | Building and premises costs | \n 817 | \n 670 | \n
\n \n | Costs for settlement agreement | \n 643 | \n 525 | \n
\n \n | Repairs and maintenance | \n 582 | \n 305 | \n
\n \n | Operational Leasing | \n 0 | \n 149 | \n
\n \n | Insurance premiums | \n 150 | \n 142 | \n
\n \n | Other expenses | \n 325 | \n 968 | \n
\n \n | Total other operating\u00a0expenses | \n 12,732 | \n 5,960 | \n
\n \n
\n
\n 7. PROPERTY,\u00a0PLANT AND \u00a0\n
\n \n EQUIPMENT (INCLUDING \u00a0\n
\n \n RIGHT-OF-USE ASSETS) \u00a0\n
\n \n The composition and movements in tangible \u00a0 assets during the year ended 31 December 2023 \u00a0are as follows: \u00a0\n
\n \n
\n \n \n \n \n \n \n \n \n \n \n \n \n | \n | \n | \n | \n Other | \n Under | \n | \n | \n
\n \n | \n | \n | \n Technical ins- | \n installations, | \n construc- | \n Right | \n | \n
\n \n | \n | \n | \n tallations and | \n equipment | \n tion and | \n of use | \n | \n
\n \n | (in EUR 1,000) | \n Land | \n Buildings | \n machinery | \n and furniture | \n advances | \n Assets | \n Total | \n
\n \n | COST: | \n | \n | \n | \n | \n | \n | \n | \n
\n \n | Balance at 1 January 2022 | \n 91 | \n 5,743 | \n 379 | \n 2,702 | \n 27,938 | \n 0 | \n 36,854 | \n
\n \n | Additions | \n 0 | \n 54 | \n 4 | \n 67 | \n 1,124 | \n 0 | \n 1,248 | \n
\n \n | Disposals | \n 0 | \n 0 | \n 0 | \n 0 | \n 1,953 | \n 0 | \n 1,953 | \n
\n \n | Transfers | \n 0 | \n 0 | \n 24,571 | \n 0 | \n (24,571) | \n 0 | \n 0 | \n
\n \n | Balance at 31 December 2022 | \n 91 | \n 5,796 | \n 24,954 | \n 2,769 | \n 2,538 | \n 0 | \n 36,148 | \n
\n \n | Balance at 1 January 2023 | \n 91 | \n 5,796 | \n 24,954 | \n 2,769 | \n 2,538 | \n 0 | \n 36,148 | \n
\n \n | Additions | \n 1,854 | \n 925 | \n 5,201 | \n 333 | \n 496 | \n 1,218 | \n 10,026 | \n
\n \n | Change in consolidation scope | \n 4,968 | \n 5,872 | \n 593 | \n 338 | \n 958 | \n 0 | \n 12,728 | \n
\n \n | Disposals | \n 0 | \n 0 | \n 0 | \n 0 | \n 0 | \n 0 | \n 0 | \n
\n \n | Transfers | \n 0 | \n 0 | \n 0 | \n 0 | \n 0 | \n 0 | \n 0 | \n
\n \n | BALANCE AT 31 DECEMBER 2023 | \n 6,912 | \n 12,593 | \n 30,748 | \n 3,441 | \n 3,991 | \n 1,218 | \n 58,903 | \n
\n \n
\n
\n
\n \n \n \n \n \n \n \n \n \n \n \n \n | \n | \n | \n | \n Other | \n Under | \n | \n | \n
\n \n | \n | \n | \n Technical ins- | \n installations, | \n construc- | \n Right | \n | \n
\n \n | \n | \n | \n tallations and | \n equipment | \n tion and | \n of use | \n | \n
\n \n | (in EUR 1,000) | \n Land | \n Buildings | \n machinery | \n and furniture | \n advances | \n Assets | \n Total | \n
\n \n | ACCUMULATED DEPRECIATION: | \n | \n | \n | \n | \n | \n | \n | \n
\n \n | Balance at 1 January 2022 | \n 0 | \n 652 | \n 336 | \n 434 | \n 0 | \n 0 | \n 1,422 | \n
\n \n | Depreciation during the year | \n 0 | \n 228 | \n 644 | \n 325 | \n 0 | \n 0 | \n 1,196 | \n
\n \n | Disposals | \n 0 | \n 0 | \n 0 | \n 0 | \n 0 | \n 0 | \n 0 | \n
\n \n | Transfers | \n 0 | \n 0 | \n 0 | \n 0 | \n 0 | \n 0 | \n 0 | \n
\n \n | Balance at 31 December 2022 | \n 0 | \n 879 | \n 980 | \n 759 | \n 0 | \n 0 | \n 2,618 | \n
\n \n | Balance at 1 January 2023 | \n 0 | \n 879 | \n 980 | \n 759 | \n 0 | \n 0 | \n 2,618 | \n
\n \n | Depreciation during the year | \n 0 | \n 423 | \n 1,592 | \n 256 | \n 0 | \n 333 | \n 2,604 | \n
\n \n | Change in consolidation scope | \n 0 | \n 90 | \n 11 | \n 281 | \n 0 | \n 0 | \n 382 | \n
\n \n | Disposals | \n 0 | \n 0 | \n 0 | \n 0 | \n 0 | \n 0 | \n 0 | \n
\n \n | Transfers | \n 0 | \n 0 | \n 0 | \n 0 | \n 0 | \n 0 | \n 0 | \n
\n \n | Balance at 31 December 2023 | \n 0 | \n 1,392 | \n 2,583 | \n 1,295 | \n 0 | \n 333 | \n 5,604 | \n
\n \n | Carrying amounts: | \n | \n | \n | \n | \n | \n | \n | \n
\n \n | AS AT 31 DECEMBER 2022 | \n 91 | \n 4,917 | \n 23,973 | \n 2,011 | \n 2,538 | \n 0 | \n 33,530 | \n
\n \n | AS AT 31 DECEMBER 2023 | \n 6,912 | \n 11,202 | \n 28,164 | \n 2,145 | \n 3,991 | \n 885 | \n 53,299 | \n
\n \n
\n
\n RIGHT-OF-USE ASSETS \u00a0\n
\n \n The Group has lease contracts for various items \u00a0 of plant, machinery, vehicles and other equip- \u00a0ment used in its operations. Leases of plant and \u00a0machinery generally have lease terms between \u00a03 and 15 years, while motor vehicles and other \u00a0equipment generally have lease terms between \u00a03 and 5 years. The Group\u2019s obligations under \u00a0its leases are secured by the lessor\u2019s title to the \u00a0leased assets. Generally, the Group is restricted \u00a0from assigning and subleasing the leased as- \u00a0sets and some contracts require the Group to \u00a0maintain certain \ufb01nancial ratios. \u00a0\n
\n \n The Group also has certain leases of machin- \u00a0 ery with lease terms of 12 months or less and \u00a0leases of of\ufb01ce\u00a0equipment with low value. The \u00a0Group applies the \u2018short-term lease\u2019 and \u2018lease \u00a0of low-value assets\u2019 recognition exemptions for \u00a0these leases. \u00a0\n
\n \n \n 18. OTHER\u00a0NON-CURRENT \u00a0\n
\n LIABILITIES \u00a0\n
\n Details of other non-current liabilities are as fol- \u00a0 lows: \u00a0\n
\n \n
\n \n \n \n \n \n \n \n | (in EUR 1,000) | \n 31/12/2023 | \n 31/12/2022 | \n
\n \n | Lease liabilities | \n 340 | \n 0 | \n
\n \n | Total | \n 340 | \n 0 | \n
\n \n
\n
23.1 RENTAL\u00a0AND LEASE CONTRACTS \u00a0\n
Description of rental and lease contracts (short term and below EUR 5) \u00a0\n
\n
\n \n \n \n \n \n \n \n | (in EUR 1,000) | \n 2023 | \n 2022 | \n
\n \n | OPERATING LEASE OBLIGATIONS (RENTAL) AS OF 31 DECEMBER | \n | \n | \n
\n \n | < 1 year | \n 0 | \n 0 | \n
\n \n | > 1 - 5 years | \n 0 | \n 0 | \n
\n \n | More than 5 years | \n 0 | \n 0 | \n
\n \n | Total | \n 0 | \n 0 | \n
\n \n
\n
\n
\n \n \n \n \n \n \n \n | (in EUR 1,000) | \n 2023 | \n 2022 | \n
\n \n | FINANCE LEASE OBLIGATIONS AS OF 31 DECEMBER | \n | \n | \n
\n \n | < 1 year | \n 18 | \n 0 | \n
\n \n | > 1 - 5 years | \n 0 | \n 9 | \n
\n \n | More than 5 years | \n 0 | \n 0 | \n
\n \n | Total | \n 18 | \n 0 | \n
\n \n | Future \ufb01nance charges on \ufb01nance lease | \n 0 | \n 0 | \n
\n \n | Present value of \ufb01nance lease liabilities | \n 18 | \n 0 | \n
\n \n
\n
The present value of \ufb01nance lease liabilities is as follows: \u00a0\n
\n
\n \n \n \n \n \n \n \n | (in EUR 1,000) | \n 2023 | \n 2022 | \n
\n \n | < 1 year | \n 18 | \n 0 | \n
\n \n | > 1 - 5 years | \n 0 | \n 9 | \n
\n \n | More than 5 years | \n 0 | \n 0 | \n
\n \n | Present value of future \ufb01nance lease liabilities | \n 18 | \n 0 | \n
\n \n
\n
In the financial year 2023, the rental and leasing \u00a0 expenses for short term (up to 12 month) are \u00a0KEUR 18 (2022: KEUR 0). \u00a0\n
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfLeasesExplanatory",
"language": "en",
"entity": "scheme:391200TZVOLI3RYBWS74",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"esef-43451_2023": {
"value": "\n \n 7. PROPERTY,\u00a0PLANT AND \u00a0\n
\n \n EQUIPMENT (INCLUDING \u00a0\n
\n \n RIGHT-OF-USE ASSETS) \u00a0\n
\n \n The composition and movements in tangible \u00a0 assets during the year ended 31 December 2023 \u00a0are as follows: \u00a0\n
\n \n
\n \n \n \n \n \n \n \n \n \n \n \n \n | \n | \n | \n | \n Other | \n Under | \n | \n | \n
\n \n | \n | \n | \n Technical ins- | \n installations, | \n construc- | \n Right | \n | \n
\n \n | \n | \n | \n tallations and | \n equipment | \n tion and | \n of use | \n | \n
\n \n | (in EUR 1,000) | \n Land | \n Buildings | \n machinery | \n and furniture | \n advances | \n Assets | \n Total | \n
\n \n | COST: | \n | \n | \n | \n | \n | \n | \n | \n
\n \n | Balance at 1 January 2022 | \n 91 | \n 5,743 | \n 379 | \n 2,702 | \n 27,938 | \n 0 | \n 36,854 | \n
\n \n | Additions | \n 0 | \n 54 | \n 4 | \n 67 | \n 1,124 | \n 0 | \n 1,248 | \n
\n \n | Disposals | \n 0 | \n 0 | \n 0 | \n 0 | \n 1,953 | \n 0 | \n 1,953 | \n
\n \n | Transfers | \n 0 | \n 0 | \n 24,571 | \n 0 | \n (24,571) | \n 0 | \n 0 | \n
\n \n | Balance at 31 December 2022 | \n 91 | \n 5,796 | \n 24,954 | \n 2,769 | \n 2,538 | \n 0 | \n 36,148 | \n
\n \n | Balance at 1 January 2023 | \n 91 | \n 5,796 | \n 24,954 | \n 2,769 | \n 2,538 | \n 0 | \n 36,148 | \n
\n \n | Additions | \n 1,854 | \n 925 | \n 5,201 | \n 333 | \n 496 | \n 1,218 | \n 10,026 | \n
\n \n | Change in consolidation scope | \n 4,968 | \n 5,872 | \n 593 | \n 338 | \n 958 | \n 0 | \n 12,728 | \n
\n \n | Disposals | \n 0 | \n 0 | \n 0 | \n 0 | \n 0 | \n 0 | \n 0 | \n
\n \n | Transfers | \n 0 | \n 0 | \n 0 | \n 0 | \n 0 | \n 0 | \n 0 | \n
\n \n | BALANCE AT 31 DECEMBER 2023 | \n 6,912 | \n 12,593 | \n 30,748 | \n 3,441 | \n 3,991 | \n 1,218 | \n 58,903 | \n
\n \n
\n
\n
\n \n \n \n \n \n \n \n \n \n \n \n \n | \n | \n | \n | \n Other | \n Under | \n | \n | \n
\n \n | \n | \n | \n Technical ins- | \n installations, | \n construc- | \n Right | \n | \n
\n \n | \n | \n | \n tallations and | \n equipment | \n tion and | \n of use | \n | \n
\n \n | (in EUR 1,000) | \n Land | \n Buildings | \n machinery | \n and furniture | \n advances | \n Assets | \n Total | \n
\n \n | ACCUMULATED DEPRECIATION: | \n | \n | \n | \n | \n | \n | \n | \n
\n \n | Balance at 1 January 2022 | \n 0 | \n 652 | \n 336 | \n 434 | \n 0 | \n 0 | \n 1,422 | \n
\n \n | Depreciation during the year | \n 0 | \n 228 | \n 644 | \n 325 | \n 0 | \n 0 | \n 1,196 | \n
\n \n | Disposals | \n 0 | \n 0 | \n 0 | \n 0 | \n 0 | \n 0 | \n 0 | \n
\n \n | Transfers | \n 0 | \n 0 | \n 0 | \n 0 | \n 0 | \n 0 | \n 0 | \n
\n \n | Balance at 31 December 2022 | \n 0 | \n 879 | \n 980 | \n 759 | \n 0 | \n 0 | \n 2,618 | \n
\n \n | Balance at 1 January 2023 | \n 0 | \n 879 | \n 980 | \n 759 | \n 0 | \n 0 | \n 2,618 | \n
\n \n | Depreciation during the year | \n 0 | \n 423 | \n 1,592 | \n 256 | \n 0 | \n 333 | \n 2,604 | \n
\n \n | Change in consolidation scope | \n 0 | \n 90 | \n 11 | \n 281 | \n 0 | \n 0 | \n 382 | \n
\n \n | Disposals | \n 0 | \n 0 | \n 0 | \n 0 | \n 0 | \n 0 | \n 0 | \n
\n \n | Transfers | \n 0 | \n 0 | \n 0 | \n 0 | \n 0 | \n 0 | \n 0 | \n
\n \n | Balance at 31 December 2023 | \n 0 | \n 1,392 | \n 2,583 | \n 1,295 | \n 0 | \n 333 | \n 5,604 | \n
\n \n | Carrying amounts: | \n | \n | \n | \n | \n | \n | \n | \n
\n \n | AS AT 31 DECEMBER 2022 | \n 91 | \n 4,917 | \n 23,973 | \n 2,011 | \n 2,538 | \n 0 | \n 33,530 | \n
\n \n | AS AT 31 DECEMBER 2023 | \n 6,912 | \n 11,202 | \n 28,164 | \n 2,145 | \n 3,991 | \n 885 | \n 53,299 | \n
\n \n
\n
\n INSURANCE \u00a0\n
\n \n The Group has agreed an insurance contract to \u00a0 cover the risk of damage to its tangible assets. \u00a0The insured asset value of industrial installa- \u00a0tions, of\ufb01ce buildings and electronic equipment \u00a0amounts to KEUR 10,000 ( 2022: KEUR 10,000).In addition, there is automatic insurance cover- \u00a0age for damages for the hydrogen powerplant \u00a0including the hydrogen \ufb01lling station of KEUR \u00a09,803 (2022: KEUR 9,803) and an automatic \u00a0insurance coverage for damages for the \u00a0photovoltaic power plant of KEUR 6,398 \u00a0(2022: KEUR 6,398). \u00a0\n
\n \n \n TANGIBLE ASSETS PLEDGED \u00a0\n
\n \n AS COLLATERAL \u00a0\n
\n \n The Group does have tangible assets as at 31 \u00a0 December 2023 of KEUR 9,541 (2022: KEUR \u00a09,541) that are pledged as collateral for investor \u00a0and bank debts. \u00a0\n
\n \n \n \n CAPITALIZED INTERESTS \u00a0\n
\n The carrying amount as of the balance sheet \u00a0 date includes total interest capitalized amount- \u00a0ing to KEUR 2,799 (2022: 2,943) which was \u00a0incurred during construction and calculated with \u00a0an average capitalization rate of 7.42%. \u00a0\n
\n \n \n IMPAIRMENT ON TANGIBLE ASSETS \u00a0\n
\n \n The annual impairment test was performed with \u00a0 the result that no impairment indicators were \u00a0identi\ufb01ed. \u00a0\n
\n \n \n \n RIGHT-OF-USE ASSETS \u00a0\n
\n \n The Group has lease contracts for various items \u00a0 of plant, machinery, vehicles and other equip- \u00a0ment used in its operations. Leases of plant and \u00a0machinery generally have lease terms between \u00a03 and 15 years, while motor vehicles and other \u00a0equipment generally have lease terms between \u00a03 and 5 years. The Group\u2019s obligations under \u00a0its leases are secured by the lessor\u2019s title to the \u00a0leased assets. Generally, the Group is restricted \u00a0from assigning and subleasing the leased as- \u00a0sets and some contracts require the Group to \u00a0maintain certain \ufb01nancial ratios. \u00a0\n
\n \n The Group also has certain leases of machin- \u00a0 ery with lease terms of 12 months or less and \u00a0leases of of\ufb01ce\u00a0equipment with low value. The \u00a0Group applies the \u2018short-term lease\u2019 and \u2018lease \u00a0of low-value assets\u2019 recognition exemptions for \u00a0these leases. \u00a0\n
\n \n ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfPropertyPlantAndEquipmentExplanatory",
"language": "en",
"entity": "scheme:391200TZVOLI3RYBWS74",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"esef-43362_2023": {
"value": "\n \n TANGIBLE ASSETS PLEDGED \u00a0\n
\n \n AS COLLATERAL \u00a0\n
\n \n The Group does have tangible assets as at 31 \u00a0 December 2023 of KEUR 9,541 (2022: KEUR \u00a09,541) that are pledged as collateral for investor \u00a0and bank debts. \u00a0\n
\n ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfCollateralExplanatory",
"language": "en",
"entity": "scheme:391200TZVOLI3RYBWS74",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"esef-43354_2023": {
"value": "\n CAPITALIZED INTERESTS \u00a0\n
\n The carrying amount as of the balance sheet \u00a0 date includes total interest capitalized amount- \u00a0ing to KEUR 2,799 (2022: 2,943) which was \u00a0incurred during construction and calculated with \u00a0an average capitalization rate of 7.42%. \u00a0\n
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfBorrowingCostsExplanatory",
"language": "en",
"entity": "scheme:391200TZVOLI3RYBWS74",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"esef-43423_2023": {
"value": "\n 8. OTHER\u00a0FINANCIAL \u00a0\n
\n INVESTMENTS \u00a0\n
\n \n
\n \n \n \n \n \n \n \n \n \n \n | \n | \n | \n | \n Amount of investment | \n
\n \n | NAME OF ASSOCIATE | \n Registered of\ufb01ce | \n Activity | \n % ownership | \n 31/12/2023 | \n 31/12/2022 | \n
\n \n | Nuventura GmbH | \n Berlin | \n Technology development | \n < 10% | \n 825 | \n 1,100 | \n
\n \n | Play Ventures Fund II | \n Singapore | \n Investment Fund | \n < 10% | \n 1,649 | \n 0 | \n
\n \n | Total | \n | \n | \n | \n 2,474 | \n 1,100 | \n
\n \n
\n
In the \ufb01nancial year of 2023, the Group recog- \u00a0 nized an impairment loss of 25% of its investment \u00a0in Nuventura GmbH. \u00a0\n
\n The investment in Play Ventures Fund II is pre- \u00a0 sented for the \ufb01rst time in these consolidated \ufb01- \u00a0nancial statements based on the reverse acquisi- \u00a0tion as of 19 January 2023. The total investment \u00a0in this fund is committed for USD 2,500,000 and \u00a0is called by tranches. \u00a0\n
\n ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfInvestmentsAccountedForUsingEquityMethodExplanatory",
"language": "en",
"entity": "scheme:391200TZVOLI3RYBWS74",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"esef-43346_2023": {
"value": "\n The lifetime credit loss of trade receivables was \u00a0 determined for each customer based on data \u00a0from an external rating agency. \u00a0\n
\n ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfAllowanceForCreditLossesExplanatory",
"language": "en",
"entity": "scheme:391200TZVOLI3RYBWS74",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"esef-43408_2023": {
"value": "\n \n 10. INCOME\u00a0TAX/ \u00a0\n
\n \n DEFERRED TAX ASSETS \u00a0\n
\n \n The Group entities are taxable according to their \u00a0 applicable tax regulations. During the year ended \u00a031 December 2023, the Company, is subject to \u00a0the German statutory income tax rate of 27.69 % \u00a0(2022: 30.18 %). The companies which are sub- \u00a0jects to Luxembourg income tax rate of 24.94% \u00a0(2022: 24.94%). The main tax expenses accrue \u00a0within the companies under German tax law. \u00a0\n
\n \n The income tax expense is presented follows: \u00a0\n
\n \n \n
\n \n \n \n \n \n \n \n | (in EUR 1,000) | \n 31/12/2023 | \n 31/12/2022 | \n
\n \n | CURRENT TAX | \n | \n | \n
\n \n | Current period | \n 429 | \n 114 | \n
\n \n | Total current tax expense | \n 429 | \n 114 | \n
\n \n | DEFERRED TAX | \n | \n | \n
\n \n | Source and reversal of temporary differences | \n | \n | \n
\n \n | Intanible assets | \n 103 | \n (112) | \n
\n \n | Tangible assets | \n 40 | \n 68 | \n
\n \n | Right-of-use assets | \n (240) | \n 0 | \n
\n \n | Finance costs | \n 0 | \n 89 | \n
\n \n | PoC | \n 88 | \n (96) | \n
\n \n | Other | \n (1) | \n 4 | \n
\n \n | Deferred tax assets | \n 10 | \n 1,096 | \n
\n \n | Total deferred tax expense | \n 0 | \n 1,049 | \n
\n \n | Income tax bene\ufb01t / (expense), net | \n (429) | \n 935 | \n
\n \n
\n
\n The tax reconciliation using the German tax rate \u00a0 of 27.69 % (2022: 30.18 %) is as follows: \u00a0\n
\n \n
\n \n \n \n \n \n \n \n | (in EUR 1,000) | \n 31/12/2023 | \n 31/12/2022 | \n
\n \n | Consolidated income (loss) beforeincome tax | \n (24,635) | \n (13,888) | \n
\n \n | German tax at 27.69 % (2022: 30.18%) | \n (6,812) | \n (4,191) | \n
\n \n | Not usable | \n 6,392 | \n 4,077 | \n
\n \n | Luxembourg tax at 24.94% (2022: 24.94%) | \n (10) | \n 0 | \n
\n \n | Deferred taxes | \n 0 | \n 1,049 | \n
\n \n | Non-recognition of deferred taxes | \n 0 | \n 0 | \n
\n \n | Income tax (expense)/bene\ufb01t | \n (429) | \n 935 | \n
\n \n
\n
The company H2APEX has the main applicable \u00a0 taxes open to inspection by the German taxa- \u00a0tion authorities for the years that are not statute \u00a0barred. \u00a0\n
\n The other Group companies have all years open \u00a0 to inspection in Germany that are applicable to \u00a0each individual company in accordance with cur- \u00a0rent local legislation. \u00a0\n
\n \n \n Due to the existing loss carryforwards, the deferred \u00a0 tax liabilities will not have any future effect \u00a0 on income tax. For this reason, deferred tax \u00a0 assets were capitalised in line with IAS 12.35 in the \u00a0 amount of the deferred tax liabilities. \u00a0\n
\n During the year, there are unrecognized deferred \u00a0 tax assets of KEUR 15,931 (31/12/2022: KEUR \u00a06,897). The unrecognized deferred tax assets \u00a0come from KEUR 62,380 tax loss (corporation \u00a0tax) and KEUR 63,038 tax loss (trade tax) during \u00a0the years 2018-2023 on which the necessary \u00a0conditions were not met for future tax \u00a0deductibility. \u00a0\n
\n \n The declared tax loss carryforwards as of the \u00a0 dates indicated are as follows: \u00a0\n
\n \n
\n \n \n \n \n \n \n \n | (in EUR 1,000) | \n 31/12/2023 | \n 31/12/2022 | \n
\n \n | DOMESTIC TAX LOSS CARRYFORWARDS | \n | \n | \n
\n \n | corporate tax loss carryforwards | \n 62,380 | \n 22,498 | \n
\n \n | trade tax loss carryforwards | \n 63,038 | \n 23,180 | \n
\n \n
\n
\n
\n \n \n \n \n \n \n \n | (in EUR 1,000) | \n 31/12/2023 | \n 31/12/2022 | \n
\n \n | CURRENT TAX | \n | \n | \n
\n \n | Current period | \n 429 | \n 114 | \n
\n \n | Total current tax expense | \n 429 | \n 114 | \n
\n \n | DEFERRED TAX | \n | \n | \n
\n \n | Source and reversal of temporary differences | \n | \n | \n
\n \n | Intanible assets | \n 103 | \n (112) | \n
\n \n | Tangible assets | \n 40 | \n 68 | \n
\n \n | Right-of-use assets | \n (240) | \n 0 | \n
\n \n | Finance costs | \n 0 | \n 89 | \n
\n \n | PoC | \n 88 | \n (96) | \n
\n \n | Other | \n (1) | \n 4 | \n
\n \n | Deferred tax assets | \n 10 | \n 1,096 | \n
\n \n | Total deferred tax expense | \n 0 | \n 1,049 | \n
\n \n | Income tax bene\ufb01t / (expense), net | \n (429) | \n 935 | \n
\n \n
\n
\n The tax reconciliation using the German tax rate \u00a0 of 27.69 % (2022: 30.18 %) is as follows: \u00a0\n
\n \n
\n \n \n \n \n \n \n \n | (in EUR 1,000) | \n 31/12/2023 | \n 31/12/2022 | \n
\n \n | Consolidated income (loss) beforeincome tax | \n (24,635) | \n (13,888) | \n
\n \n | German tax at 27.69 % (2022: 30.18%) | \n (6,812) | \n (4,191) | \n
\n \n | Not usable | \n 6,392 | \n 4,077 | \n
\n \n | Luxembourg tax at 24.94% (2022: 24.94%) | \n (10) | \n 0 | \n
\n \n | Deferred taxes | \n 0 | \n 1,049 | \n
\n \n | Non-recognition of deferred taxes | \n 0 | \n 0 | \n
\n \n | Income tax (expense)/bene\ufb01t | \n (429) | \n 935 | \n
\n \n
\n
\n Due to the existing loss carryforwards, the deferred \u00a0 tax liabilities will not have any future effect \u00a0 on income tax. For this reason, deferred tax \u00a0 assets were capitalised in line with IAS 12.35 in the \u00a0 amount of the deferred tax liabilities. \u00a0\n
\n During the year, there are unrecognized deferred \u00a0 tax assets of KEUR 15,931 (31/12/2022: KEUR \u00a06,897). The unrecognized deferred tax assets \u00a0come from KEUR 62,380 tax loss (corporation \u00a0tax) and KEUR 63,038 tax loss (trade tax) during \u00a0the years 2018-2023 on which the necessary \u00a0conditions were not met for future tax \u00a0deductibility. \u00a0\n
\n ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfDeferredTaxesExplanatory",
"language": "en",
"entity": "scheme:391200TZVOLI3RYBWS74",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"esef-43420_2023": {
"value": "\n 11. INVENTORIES \u00a0\n
\n The inventories are entirely composed of goods \u00a0 and prepayments. The fair values of inventories \u00a0do not differ signi\ufb01cantly from their carrying \u00a0amount. \u00a0\n
\n The classi\ufb01cation of Inventories by category \u00a0 and class at 31 December 2023 and 2022 is\u00a0as \u00a0follows: \u00a0\n
\n \n \n
\n \n \n \n \n \n \n \n | (in EUR 1,000) | \n 31/12/2023 | \n 31/12/2022 | \n
\n \n | Goods | \n 210 | \n 3,835 | \n
\n \n | Prepayments | \n 0 | \n 2,663 | \n
\n \n | \n 210 | \n 6,498 | \n
\n \n
\n
\n
\n \n \n \n \n \n \n \n | (in EUR 1,000) | \n 31/12/2023 | \n 31/12/2022 | \n
\n \n | Goods | \n 210 | \n 3,835 | \n
\n \n | Prepayments | \n 0 | \n 2,663 | \n
\n \n | \n 210 | \n 6,498 | \n
\n \n
\n
12. CONTRACT\u00a0ASSETS \u00a0\n
\n Details of contract assets are as follows: \u00a0\n
\n \n
\n \n \n \n \n \n \n \n | (in EUR 1,000) | \n 31/12/2023 | \n 31/12/2022 | \n
\n \n | Contract assets | \n 5,941 | \n 2,740 | \n
\n \n
\n
Total contract assets are due to revenue from \u00a0 projects which are recognized over time by \u00a0reference to the percentage of completion of the \u00a0project. \u00a0\n
\n During the year ended 31 December 2023 \u00a0 an impairment of KEUR 43 was recognized \u00a0(31/12/2022: EUR 0.00). \u00a0\n
\n \n 21. CONTRACT\u00a0LIABILITIES \u00a0\n
Details of contract liabilities are as follows: \u00a0\n
\n
\n \n \n \n \n \n \n \n | (in EUR 1,000) | \n 31/12/2023 | \n 31/12/2022 | \n
\n \n | Contract liabilities | \n 1,284 | \n 0 | \n
\n \n
\n
25. REVENUE \u00a0\n
\n Details of revenues by category of activity are as \u00a0 follows: \u00a0\n
\n \n
\n \n \n \n \n \n \n \n | (in EUR 1,000) | \n 2023 | \n 2022 | \n
\n \n | Revenue from project development - PoC | \n 14,819 | \n 3,476 | \n
\n \n | Revenue from own operations - Point of time | \n 478 | \n 372 | \n
\n \n | Total revenue | \n 15,297 | \n 3,848 | \n
\n \n
\n
The increase in revenue from project develop- \u00a0 ment can be attributed to the start of processing \u00a03 additional projects as well as the project \u00a0progress within the ongoing projects in the \u00a0\ufb01nancial year ended 31 December 2023. \u00a0\n
\n \n ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfRevenueFromContractsWithCustomersExplanatory",
"language": "en",
"entity": "scheme:391200TZVOLI3RYBWS74",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"esef-43461_2023": {
"value": "\n 12. CONTRACT\u00a0ASSETS \u00a0\n
\n Details of contract assets are as follows: \u00a0\n
\n \n
\n \n \n \n \n \n \n \n | (in EUR 1,000) | \n 31/12/2023 | \n 31/12/2022 | \n
\n \n | Contract assets | \n 5,941 | \n 2,740 | \n
\n \n
\n
Total contract assets are due to revenue from \u00a0 projects which are recognized over time by \u00a0reference to the percentage of completion of the \u00a0project. \u00a0\n
\n During the year ended 31 December 2023 \u00a0 an impairment of KEUR 43 was recognized \u00a0(31/12/2022: EUR 0.00). \u00a0\n
\n \n 25. REVENUE \u00a0\n
\n Details of revenues by category of activity are as \u00a0 follows: \u00a0\n
\n \n
\n \n \n \n \n \n \n \n | (in EUR 1,000) | \n 2023 | \n 2022 | \n
\n \n | Revenue from project development - PoC | \n 14,819 | \n 3,476 | \n
\n \n | Revenue from own operations - Point of time | \n 478 | \n 372 | \n
\n \n | Total revenue | \n 15,297 | \n 3,848 | \n
\n \n
\n
The increase in revenue from project develop- \u00a0 ment can be attributed to the start of processing \u00a03 additional projects as well as the project \u00a0progress within the ongoing projects in the \u00a0\ufb01nancial year ended 31 December 2023. \u00a0\n
\n ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfRevenueExplanatory",
"language": "en",
"entity": "scheme:391200TZVOLI3RYBWS74",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"esef-43405_2023": {
"value": "\n \n \n
\n \n \n \n \n \n \n \n | (in EUR 1,000) | \n 31/12/2023 | \n 31/12/2022 | \n
\n \n | Project related advance payments done | \n 4,478 | \n 0 | \n
\n \n | Receivables from shareholders | \n 506 | \n 506 | \n
\n \n | Grants | \n 166 | \n 78 | \n
\n \n | Security and other deposits | \n 47 | \n 8 | \n
\n \n | Loan receivable | \n 0 | \n 10,900 | \n
\n \n | VAT receivable | \n 0 | \n 850 | \n
\n \n | Accrued interest | \n 0 | \n 678 | \n
\n \n | other | \n 197 | \n 354 | \n
\n \n | total | \n 5,395 | \n 13,375 | \n
\n \n
\n
\n
\n \n \n \n \n \n \n \n | (in EUR 1,000) | \n 31/12/2023 | \n 31/12/2022 | \n
\n \n | Project related advance payments done | \n 4,478 | \n 0 | \n
\n \n | Receivables from shareholders | \n 506 | \n 506 | \n
\n \n | Grants | \n 166 | \n 78 | \n
\n \n | Security and other deposits | \n 47 | \n 8 | \n
\n \n | Loan receivable | \n 0 | \n 10,900 | \n
\n \n | VAT receivable | \n 0 | \n 850 | \n
\n \n | Accrued interest | \n 0 | \n 678 | \n
\n \n | other | \n 197 | \n 354 | \n
\n \n | total | \n 5,395 | \n 13,375 | \n
\n \n
\n
As of 31 December 2023 EUR 9,683,353.50 \u00a0 (2022: EUR 0.00) cash and cash equivalents \u00a0were restricted. \u00a0\n
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfRestrictedCashAndCashEquivalentsExplanatory",
"language": "en",
"entity": "scheme:391200TZVOLI3RYBWS74",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"esef-43465_2023": {
"value": "\n \n 15. EQUITY \u00a0\n
\n \n \n Under the merger agreement, H2APEX agreed (i) \u00a0 to acquire 20.8% of the APEX shares for a\u00a0cash \u00a0consideration in the amount of EUR 25,000,000 \u00a0and (ii) to exchange the remaining 79.2% shares \u00a0in Apex for shares in H2APEX by way of a con- \u00a0tribution in kind. For this purpose, H2APEX \u00a0agreed to utilise its authorised capital and \u00a0increase its share capital from EUR 311,960.18 \u00a0by EUR 252,424.73 to EUR 564,384.91 by issuing \u00a016,285,467 new shares to the shareholders of \u00a0APEX. \u00a0\n
\n \n Development of the share capital: \u00a0\n
\n \n
\n \n \n \n \n \n \n | \n Euro | \n
\n \n | Balance at 1 January 2023 | \n 311,960.18 | \n
\n \n | Issuance of Ordinary Shares - 19 January 2023 | \n 252,424.73 | \n
\n \n | Balance at 31 December 2023 | \n 564,384.91 | \n
\n \n | Balance at 1 January 2022 | \n 311,960.18 | \n
\n \n | Balance at 31 December 2022 | \n 311,960.18 | \n
\n \n
\n
\n The numbers of shares are as follows: \u00a0\n
\n \n
\n \n \n \n \n \n \n \n \n | \n Total Shares | \n Unlimited | \n Ordinary | \n
\n \n | \n | \n Shares | \n Shares | \n
\n \n | Number of shares issued as at 1 January 2023 | \n 20,073,696 | \n 1 | \n 20,073,695 | \n
\n \n | Issuance of Ordinary Shares - 19 January 2023 | \n 16,285,467 | \n 0 | \n 16,285,467 | \n
\n \n | Number of shares issued as at 31 December 2023 | \n 36,359,163 | \n 1 | \n 36,359,162 | \n
\n \n | Number of shares issued as at 1 January 2022 | \n 20,073,696 | \n 1 | \n 20,073,695 | \n
\n \n | Number of shares issued as at 31 December 2022 | \n 20,073,696 | \n 1 | \n 20,073,695 | \n
\n \n
\n
\n The Company\u2019s share capital as of 31 December \u00a0 2023 amounts to EUR 564,384.91 (2022: EUR \u00a0311,960.18), represented by 36,359,162 Ordinary \u00a0Shares (2022: 20,073,095) and one unlimited \u00a0Share with no par value. The unlimited Share \u00a0is held by the General Partner. Ordinary Shares \u00a0are listed in the Prime Segment of the Frankfurt \u00a0stock exchange. \u00a0\n
\n \n \n \n Each share entitles the holder thereof to one vote. Each Share shall be entitled to receive the same \u00a0amount. The Ordinary Shares are freely transfer- \u00a0able, the Unlimited Share are only transferrable tounlimited shareholders jointly and severally liablefor all liabilities of the Company which cannot bemet out of the assets of the Company All rights \u00a0and obligations attached to any share are passed \u00a0to any transferee thereof. \u00a0\n
\n \n Electronic copies of the Articles can be\u00a0down- \u00a0 loaded from the website of H2APEX Group SCA: \u00a0https://ir.h2apex.com/\ufb01leadmin/downloads/ir/ \u00a0corp_govern/2024-01-18_H2APEX_Group_SCA_ \u00a0Koordinierte_Satzung.pdf \u00a0\n
\n \n On the extraordinary shareholder meeting on 29 \u00a0 June 2022, the shareholders approved an au- \u00a0thorised capital in an amount of EUR 2,807,640, \u00a0excluding the issued share capital, and to grant \u00a0the authorisation to the General Partner to issue \u00a0up to 184,715,055 Ordinary Shares. \u00a0\n
\n \n On 19 January 2023 the shareholder approved \u00a0 the contribution in kind of the Company\u2019s Sub- \u00a0scribed capital by an amount of EUR 252,425 \u00a0from EUR 311,960 to EUR 564,385 and of \u00a0Share Premium by EUR 94,747,975 from EUR \u00a0103,578,029 to EUR 198,326,004 by issuing \u00a016,285,467 new shares to the shareholders of \u00a0APEX. \u00a0\n
\n \n Based on the transaction of Contribution in Kind, \u00a0 the authorised capital decreased by EUR 252,425 \u00a0to EUR 2,555,215.27. \u00a0\n
\n \n On the Annual General Meeting on 2 May 2023 \u00a0 the shareholders approved the allocation of prior \u00a0year results to the pro\ufb01t brought forward for an \u00a0amount of EUR 13,877,538 and an allocation to \u00a0the legal reserve amounting to EUR 22,437. \u00a0\n
\n \n LEGAL RESERVE \u00a0\n
\n \n Under Luxembourg law, 5% of the net pro\ufb01t of \u00a0 the year, net of any losses brought forward, must \u00a0be allocated to a legal reserve until such reserve \u00a0equals 10% of the issued share capital. This re- \u00a0serve is not available for dividend distribution. \u00a0\n
\n \n During the year, the Company has not acquired/ \u00a0 sold any own shares. \u00a0\n
\n \n ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfShareCapitalReservesAndOtherEquityInterestExplanatory",
"language": "en",
"entity": "scheme:391200TZVOLI3RYBWS74",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"esef-43425_2023": {
"value": "\n \n Under the merger agreement, H2APEX agreed (i) \u00a0 to acquire 20.8% of the APEX shares for a\u00a0cash \u00a0consideration in the amount of EUR 25,000,000 \u00a0and (ii) to exchange the remaining 79.2% shares \u00a0in Apex for shares in H2APEX by way of a con- \u00a0tribution in kind. For this purpose, H2APEX \u00a0agreed to utilise its authorised capital and \u00a0increase its share capital from EUR 311,960.18 \u00a0by EUR 252,424.73 to EUR 564,384.91 by issuing \u00a016,285,467 new shares to the shareholders of \u00a0APEX. \u00a0\n
\n \n Development of the share capital: \u00a0\n
\n \n
\n \n \n \n \n \n \n | \n Euro | \n
\n \n | Balance at 1 January 2023 | \n 311,960.18 | \n
\n \n | Issuance of Ordinary Shares - 19 January 2023 | \n 252,424.73 | \n
\n \n | Balance at 31 December 2023 | \n 564,384.91 | \n
\n \n | Balance at 1 January 2022 | \n 311,960.18 | \n
\n \n | Balance at 31 December 2022 | \n 311,960.18 | \n
\n \n
\n
\n The numbers of shares are as follows: \u00a0\n
\n \n
\n \n \n \n \n \n \n \n \n | \n Total Shares | \n Unlimited | \n Ordinary | \n
\n \n | \n | \n Shares | \n Shares | \n
\n \n | Number of shares issued as at 1 January 2023 | \n 20,073,696 | \n 1 | \n 20,073,695 | \n
\n \n | Issuance of Ordinary Shares - 19 January 2023 | \n 16,285,467 | \n 0 | \n 16,285,467 | \n
\n \n | Number of shares issued as at 31 December 2023 | \n 36,359,163 | \n 1 | \n 36,359,162 | \n
\n \n | Number of shares issued as at 1 January 2022 | \n 20,073,696 | \n 1 | \n 20,073,695 | \n
\n \n | Number of shares issued as at 31 December 2022 | \n 20,073,696 | \n 1 | \n 20,073,695 | \n
\n \n
\n
\n The Company\u2019s share capital as of 31 December \u00a0 2023 amounts to EUR 564,384.91 (2022: EUR \u00a0311,960.18), represented by 36,359,162 Ordinary \u00a0Shares (2022: 20,073,095) and one unlimited \u00a0Share with no par value. The unlimited Share \u00a0is held by the General Partner. Ordinary Shares \u00a0are listed in the Prime Segment of the Frankfurt \u00a0stock exchange. \u00a0\n
\n ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfIssuedCapitalExplanatory",
"language": "en",
"entity": "scheme:391200TZVOLI3RYBWS74",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"esef-43459_2023": {
"value": "\n LEGAL RESERVE \u00a0\n
\n \n Under Luxembourg law, 5% of the net pro\ufb01t of \u00a0 the year, net of any losses brought forward, must \u00a0be allocated to a legal reserve until such reserve \u00a0equals 10% of the issued share capital. This re- \u00a0serve is not available for dividend distribution. \u00a0\n
\n \n During the year, the Company has not acquired/ \u00a0 sold any own shares. \u00a0\n
\n ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfReservesAndOtherEquityInterestExplanatory",
"language": "en",
"entity": "scheme:391200TZVOLI3RYBWS74",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"esef-43355_2023": {
"value": "\n \n \n
\n \n \n \n \n \n \n \n \n \n \n \n \n | \n Non-current | \n Current | \n | \n
\n \n | 31/12/2023 | \n Carrying | \n | \n | \n Carrying | \n | \n | \n Grand | \n
\n \n | (in EUR 1,000) | \n Amount | \n Fair Value | \n Total | \n Amount | \n Fair Value | \n Total | \n total | \n
\n \n | Financial liabilities from bond issue | \n 0 | \n 0 | \n 0 | \n 0 | \n 0 | \n 0 | \n 0 | \n
\n \n | Debts with credit institutions | \n 0 | \n 0 | \n 0 | \n 163 | \n 0 | \n 163 | \n 163 | \n
\n \n | Trade and other payables | \n 0 | \n 0 | \n 0 | \n 5,176 | \n 0 | \n 5,176 | \n 5,176 | \n
\n \n | Financial liabilities | \n 33,109 | \n 0 | \n 33,109 | \n 10,448 | \n 0 | \n 10,448 | \n 43,557 | \n
\n \n | Total financial liabilities | \n 33,109 | \n 0 | \n 33,109 | \n 15,787 | \n 0 | \n 15,787 | \n 48,896 | \n
\n \n
\n
\n
\n \n \n \n \n \n \n \n \n \n \n \n \n | \n Non-current | \n Current | \n | \n
\n \n | 31/12/2023 | \n Carrying | \n | \n | \n Carrying | \n | \n | \n Grand | \n
\n \n | (in EUR 1,000) | \n Amount | \n Fair Value | \n Total | \n Amount | \n Fair Value | \n Total | \n total | \n
\n \n | Financial liabilities from bond issue | \n 9,131 | \n 0 | \n 9,131 | \n 0 | \n 0 | \n 0 | \n 9,131 | \n
\n \n | Debts with credit institutions | \n 192 | \n 0 | \n 192 | \n 1,606 | \n 0 | \n 1,606 | \n 1,798 | \n
\n \n | Trade and other payables | \n 0 | \n 0 | \n 0 | \n 6,000 | \n 0 | \n 6,000 | \n 6,000 | \n
\n \n | Financial liabilities | \n 41,140 | \n 0 | \n 41,140 | \n 9,077 | \n 0 | \n 9,077 | \n 50,217 | \n
\n \n | Total financial liabilities | \n 50,464 | \n 0 | \n 50,464 | \n 16,683 | \n 0 | \n 16,683 | \n 67,147 | \n
\n \n
\n
\n 17. FINANCIAL\u00a0LIABILITIES \u00a0\n
\n \n FROM BOND ISSUANCE \u00a0\n
\n \n At 31 December 2023, the liabilities from bonds \u00a0 and notes issue are comprised of: \u00a0\n
\n \n \n \n
\n \n \n \n \n \n \n \n | (in EUR 1,000) | \n 31/12/2023 | \n 31/12/2022 | \n
\n \n | Bonds and notes outstanding, nominal | \n 0 | \n 8,900 | \n
\n \n | Unamortized issue costs | \n 0 | \n 0 | \n
\n \n | Net carrying amount | \n 0 | \n 8,900 | \n
\n \n | Effective interest rate | \n 0 | \n 0 | \n
\n \n | Accrued interest | \n 0 | \n 231 | \n
\n \n | Total | \n 0 | \n 9,131 | \n
\n \n
\n
\n Movement of \ufb01nancial liabilities from Bond \u00a0 issuance during the year ended 31 December \u00a02023 is as follows: \u00a0\n
\n \n
\n \n \n \n \n \n \n \n \n \n \n | \n | \n Issue incl. | \n conversion | \n Reim- | \n | \n
\n \n | (IN EUR 1,000) | \n 31/12/2022 | \n Interests | \n into equity | \n bursement | \n 31/12/2023 | \n
\n \n | Bonds | \n 9,131 | \n 534 | \n 0 | \n 9,666 | \n 0 | \n
\n \n
\n
\n Financial liabilities as at 31 December 2023 are \u00a0 due to loans and interests from Related parties \u00a0KEUR 33,109 (31/12/2022: KEUR 31,313). \u00a0\n
\n \n \n \n \n Financial liabilities include accumulated interest \u00a0 which were not paid as at 31 December 2023 of \u00a0in KEUR 1,337 (31/12/2022: KEUR 2,042). \u00a0\n
\n \n \n \n \n
\n \n \n \n \n \n \n \n | (in EUR 1,000) | \n 31/12/2023 | \n 31/12/2022 | \n
\n \n | Bonds and notes outstanding, nominal | \n 0 | \n 8,900 | \n
\n \n | Unamortized issue costs | \n 0 | \n 0 | \n
\n \n | Net carrying amount | \n 0 | \n 8,900 | \n
\n \n | Effective interest rate | \n 0 | \n 0 | \n
\n \n | Accrued interest | \n 0 | \n 231 | \n
\n \n | Total | \n 0 | \n 9,131 | \n
\n \n
\n
29. FINANCIAL\u00a0INCOME \u00a0\n
\n \n \n Details of \ufb01nancial income are as follows: \u00a0\n
\n \n
\n \n \n \n \n \n \n \n | (in EUR 1,000) | \n 2023 | \n 2022 | \n
\n \n | Interest bank accounts | \n 345 | \n 0 | \n
\n \n | FX gains | \n 80 | \n 0 | \n
\n \n | Other \ufb01nancial income | \n 254 | \n 513 | \n
\n \n | Total financial income | \n 679 | \n 513 | \n
\n \n
\n
30. FINANCIAL\u00a0EXPENSES \u00a0\n
\n Details of \ufb01nancial expenses are as follows: \u00a0\n
\n \n
\n \n \n \n \n \n \n \n | (in EUR 1,000) | \n 2023 | \n 2022 | \n
\n \n | FX losses | \n 109 | \n 0 | \n
\n \n | Interest on amounts owed to credit institutions | \n 79 | \n 231 | \n
\n \n | Interest on other Financial liabilities | \n 2,160 | \n 3,253 | \n
\n \n | Interest on bonds issued | \n 0 | \n 231 | \n
\n \n | Reversal of capitalized Interests | \n 0 | \n 160 | \n
\n \n | Other \ufb01nancial charges | \n 108 | \n 1 | \n
\n \n | Total \ufb01nance expenses | \n 2,456 | \n 3,876 | \n
\n \n
\n
Reversal of capitalized interests is due to trans- \u00a0 fer assets from construction to inventory which \u00a0no longer satisfy of the requirement of capital- \u00a0ized interest cost. \u00a0\n
\n \n \n ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfInterestIncomeExpenseExplanatory",
"language": "en",
"entity": "scheme:391200TZVOLI3RYBWS74",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"esef-43415_2023": {
"value": "\n \n Financial liabilities as at 31 December 2023 are \u00a0 due to loans and interests from Related parties \u00a0KEUR 33,109 (31/12/2022: KEUR 31,313). \u00a0\n
\n \n \n Financial liabilities include accumulated interest \u00a0 which were not paid as at 31 December 2023 of \u00a0in KEUR 1,337 (31/12/2022: KEUR 2,042). \u00a0\n
\n \n \n
\n \n \n \n \n \n \n \n | (in EUR 1,000) | \n 31/12/2023 | \n 31/12/2022 | \n
\n \n | Bonds and notes outstanding, nominal | \n 0 | \n 8,900 | \n
\n \n | Unamortized issue costs | \n 0 | \n 0 | \n
\n \n | Net carrying amount | \n 0 | \n 8,900 | \n
\n \n | Effective interest rate | \n 0 | \n 0 | \n
\n \n | Accrued interest | \n 0 | \n 231 | \n
\n \n | Total | \n 0 | \n 9,131 | \n
\n \n
\n
30. FINANCIAL\u00a0EXPENSES \u00a0\n
\n Details of \ufb01nancial expenses are as follows: \u00a0\n
\n \n
\n \n \n \n \n \n \n \n | (in EUR 1,000) | \n 2023 | \n 2022 | \n
\n \n | FX losses | \n 109 | \n 0 | \n
\n \n | Interest on amounts owed to credit institutions | \n 79 | \n 231 | \n
\n \n | Interest on other Financial liabilities | \n 2,160 | \n 3,253 | \n
\n \n | Interest on bonds issued | \n 0 | \n 231 | \n
\n \n | Reversal of capitalized Interests | \n 0 | \n 160 | \n
\n \n | Other \ufb01nancial charges | \n 108 | \n 1 | \n
\n \n | Total \ufb01nance expenses | \n 2,456 | \n 3,876 | \n
\n \n
\n
Reversal of capitalized interests is due to trans- \u00a0 fer assets from construction to inventory which \u00a0no longer satisfy of the requirement of capital- \u00a0ized interest cost. \u00a0\n
\n \n ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfInterestExpenseExplanatory",
"language": "en",
"entity": "scheme:391200TZVOLI3RYBWS74",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"esef-43369_2023": {
"value": "\n \n 17. FINANCIAL\u00a0LIABILITIES \u00a0\n
\n \n FROM BOND ISSUANCE \u00a0\n
\n \n At 31 December 2023, the liabilities from bonds \u00a0 and notes issue are comprised of: \u00a0\n
\n \n \n \n
\n \n \n \n \n \n \n \n | (in EUR 1,000) | \n 31/12/2023 | \n 31/12/2022 | \n
\n \n | Bonds and notes outstanding, nominal | \n 0 | \n 8,900 | \n
\n \n | Unamortized issue costs | \n 0 | \n 0 | \n
\n \n | Net carrying amount | \n 0 | \n 8,900 | \n
\n \n | Effective interest rate | \n 0 | \n 0 | \n
\n \n | Accrued interest | \n 0 | \n 231 | \n
\n \n | Total | \n 0 | \n 9,131 | \n
\n \n
\n
\n Movement of \ufb01nancial liabilities from Bond \u00a0 issuance during the year ended 31 December \u00a02023 is as follows: \u00a0\n
\n \n
\n \n \n \n \n \n \n \n \n \n \n | \n | \n Issue incl. | \n conversion | \n Reim- | \n | \n
\n \n | (IN EUR 1,000) | \n 31/12/2022 | \n Interests | \n into equity | \n bursement | \n 31/12/2023 | \n
\n \n | Bonds | \n 9,131 | \n 534 | \n 0 | \n 9,666 | \n 0 | \n
\n \n
\n
18. OTHER\u00a0NON-CURRENT \u00a0\n
\n LIABILITIES \u00a0\n
\n Details of other non-current liabilities are as fol- \u00a0 lows: \u00a0\n
\n \n
\n \n \n \n \n \n \n \n | (in EUR 1,000) | \n 31/12/2023 | \n 31/12/2022 | \n
\n \n | Lease liabilities | \n 340 | \n 0 | \n
\n \n | Total | \n 340 | \n 0 | \n
\n \n
\n
24. OTHER\u00a0CURRENT \u00a0\n
\n LIABILITIES \u00a0\n
\n Details of other current liabilities are as follows: \u00a0\n
\n \n
\n \n \n \n \n \n \n \n | (in EUR 1,000) | \n 31/12/2023 | \n 31/12/2022 | \n
\n \n | Tax liabilities other than income taxes | \n 897 | \n 0 | \n
\n \n | Lease liabilities | \n 528 | \n 0 | \n
\n \n | Deposits received | \n 384 | \n 0 | \n
\n \n | Social security, wages and salaries | \n 168 | \n 249 | \n
\n \n | Other liabilities | \n 32 | \n 80 | \n
\n \n | Total other current liabilities | \n 2,010 | \n 329 | \n
\n \n
\n
18. OTHER\u00a0NON-CURRENT \u00a0\n
\n LIABILITIES \u00a0\n
\n Details of other non-current liabilities are as fol- \u00a0 lows: \u00a0\n
\n \n
\n \n \n \n \n \n \n \n | (in EUR 1,000) | \n 31/12/2023 | \n 31/12/2022 | \n
\n \n | Lease liabilities | \n 340 | \n 0 | \n
\n \n | Total | \n 340 | \n 0 | \n
\n \n
\n
19. PROVISIONS \u00a0\n
\n Details of provisions are as follows: \u00a0\n
\n \n \n
\n \n \n \n \n \n \n \n | (in EUR 1,000) | \n 31/12/2023 | \n 31/12/2022 | \n
\n \n | Provision for outstanding supplier invoices | \n 8,009 | \n 0 | \n
\n \n | Provision for outstanding other invoices | \n 1,000 | \n 0 | \n
\n \n | Tax provisions | \n 628 | \n 297 | \n
\n \n | Other provisions with personnel | \n 538 | \n 43 | \n
\n \n | Other provisions for legal disputes | \n 390 | \n 690 | \n
\n \n | Other provisions | \n 383 | \n 149 | \n
\n \n | Total Provisions | \n 10,949 | \n 1,179 | \n
\n \n
\n
Movement of provisions during the year ended \u00a0 31 December 2023 is as follows: \u00a0\n
\n \n \n
\n \n \n \n \n \n \n \n \n \n \n \n | \n Provision | \n | \n | \n Other | \n | \n | \n
\n \n | \n for out- | \n | \n | \n provisions | \n | \n | \n
\n \n | \n standing | \n | \n Other provisions | \n for legal | \n Other | \n | \n
\n \n | (IN EUR 1,000) | \n invoices | \n Tax provisions | \n with personnel | \n disputes | \n provisions | \n Total | \n
\n \n | As at 31 December 2022 | \n 0 | \n 297 | \n 43 | \n 690 | \n 149 | \n 1,179 | \n
\n \n | Charges | \n 9,009 | \n 628 | \n 538 | \n 225 | \n 383 | \n 10,784 | \n
\n \n | Reversals | \n 0 | \n 0 | \n 0 | \n 25 | \n 0 | \n 25 | \n
\n \n | Use | \n 0 | \n 297 | \n 43 | \n 500 | \n 149 | \n 989 | \n
\n \n | Balance at 31 December 2023 | \n 9,009 | \n 628 | \n 538 | \n 390 | \n 383 | \n 10,949 | \n
\n \n
\n
The charge in other provisions with personnel is \u00a0 mainly due to deferred bonus payments. \u00a0\n
\n \n Movement of provisions during the year ended \u00a0 31 December 2022 is as follows: \u00a0\n
\n \n \n
\n \n \n \n \n \n \n \n \n \n \n \n | \n Provision | \n | \n | \n Other | \n | \n | \n
\n \n | \n for out- | \n | \n | \n provisions | \n | \n | \n
\n \n | \n standing | \n | \n Other provisions | \n for legal | \n Other | \n | \n
\n \n | (IN EUR 1,000) | \n invoices | \n Tax provisions | \n with personnel | \n disputes | \n provisions | \n Total | \n
\n \n | As at 31 December 2021 | \n 0 | \n 183 | \n 71 | \n 0 | \n 98 | \n 351 | \n
\n \n | Charges | \n 0 | \n 297 | \n 43 | \n 690 | \n 149 | \n 1,179 | \n
\n \n | Reversals | \n 0 | \n 0 | \n 0 | \n 0 | \n 0 | \n 0 | \n
\n \n | Use | \n 0 | \n 183 | \n 71 | \n 0 | \n 98 | \n 351 | \n
\n \n | Balance at 31 December 2022 | \n 0 | \n 297 | \n 43 | \n 690 | \n 149 | \n 1,179 | \n
\n \n
\n
\n No contingent liabilities towards related parties \u00a0 (2022: EUR 0). \u00a0\n
\n \n ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfOtherProvisionsContingentLiabilitiesAndContingentAssetsExplanatory",
"language": "en",
"entity": "scheme:391200TZVOLI3RYBWS74",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"esef-43452_2023": {
"value": "\n 19. PROVISIONS \u00a0\n
\n Details of provisions are as follows: \u00a0\n
\n \n \n
\n \n \n \n \n \n \n \n | (in EUR 1,000) | \n 31/12/2023 | \n 31/12/2022 | \n
\n \n | Provision for outstanding supplier invoices | \n 8,009 | \n 0 | \n
\n \n | Provision for outstanding other invoices | \n 1,000 | \n 0 | \n
\n \n | Tax provisions | \n 628 | \n 297 | \n
\n \n | Other provisions with personnel | \n 538 | \n 43 | \n
\n \n | Other provisions for legal disputes | \n 390 | \n 690 | \n
\n \n | Other provisions | \n 383 | \n 149 | \n
\n \n | Total Provisions | \n 10,949 | \n 1,179 | \n
\n \n
\n
Movement of provisions during the year ended \u00a0 31 December 2023 is as follows: \u00a0\n
\n \n \n
\n \n \n \n \n \n \n \n \n \n \n \n | \n Provision | \n | \n | \n Other | \n | \n | \n
\n \n | \n for out- | \n | \n | \n provisions | \n | \n | \n
\n \n | \n standing | \n | \n Other provisions | \n for legal | \n Other | \n | \n
\n \n | (IN EUR 1,000) | \n invoices | \n Tax provisions | \n with personnel | \n disputes | \n provisions | \n Total | \n
\n \n | As at 31 December 2022 | \n 0 | \n 297 | \n 43 | \n 690 | \n 149 | \n 1,179 | \n
\n \n | Charges | \n 9,009 | \n 628 | \n 538 | \n 225 | \n 383 | \n 10,784 | \n
\n \n | Reversals | \n 0 | \n 0 | \n 0 | \n 25 | \n 0 | \n 25 | \n
\n \n | Use | \n 0 | \n 297 | \n 43 | \n 500 | \n 149 | \n 989 | \n
\n \n | Balance at 31 December 2023 | \n 9,009 | \n 628 | \n 538 | \n 390 | \n 383 | \n 10,949 | \n
\n \n
\n
The charge in other provisions with personnel is \u00a0 mainly due to deferred bonus payments. \u00a0\n
\n \n Movement of provisions during the year ended \u00a0 31 December 2022 is as follows: \u00a0\n
\n \n \n
\n \n \n \n \n \n \n \n \n \n \n \n | \n Provision | \n | \n | \n Other | \n | \n | \n
\n \n | \n for out- | \n | \n | \n provisions | \n | \n | \n
\n \n | \n standing | \n | \n Other provisions | \n for legal | \n Other | \n | \n
\n \n | (IN EUR 1,000) | \n invoices | \n Tax provisions | \n with personnel | \n disputes | \n provisions | \n Total | \n
\n \n | As at 31 December 2021 | \n 0 | \n 183 | \n 71 | \n 0 | \n 98 | \n 351 | \n
\n \n | Charges | \n 0 | \n 297 | \n 43 | \n 690 | \n 149 | \n 1,179 | \n
\n \n | Reversals | \n 0 | \n 0 | \n 0 | \n 0 | \n 0 | \n 0 | \n
\n \n | Use | \n 0 | \n 183 | \n 71 | \n 0 | \n 98 | \n 351 | \n
\n \n | Balance at 31 December 2022 | \n 0 | \n 297 | \n 43 | \n 690 | \n 149 | \n 1,179 | \n
\n \n
\n
\n
\n \n \n \n \n \n \n \n | (in EUR 1,000) | \n 31/12/2023 | \n 31/12/2022 | \n
\n \n | Provision for outstanding supplier invoices | \n 8,009 | \n 0 | \n
\n \n | Provision for outstanding other invoices | \n 1,000 | \n 0 | \n
\n \n | Tax provisions | \n 628 | \n 297 | \n
\n \n | Other provisions with personnel | \n 538 | \n 43 | \n
\n \n | Other provisions for legal disputes | \n 390 | \n 690 | \n
\n \n | Other provisions | \n 383 | \n 149 | \n
\n \n | Total Provisions | \n 10,949 | \n 1,179 | \n
\n \n
\n
\n
\n \n \n \n \n \n \n \n \n \n \n \n | \n Provision | \n | \n | \n Other | \n | \n | \n
\n \n | \n for out- | \n | \n | \n provisions | \n | \n | \n
\n \n | \n standing | \n | \n Other provisions | \n for legal | \n Other | \n | \n
\n \n | (IN EUR 1,000) | \n invoices | \n Tax provisions | \n with personnel | \n disputes | \n provisions | \n Total | \n
\n \n | As at 31 December 2022 | \n 0 | \n 297 | \n 43 | \n 690 | \n 149 | \n 1,179 | \n
\n \n | Charges | \n 9,009 | \n 628 | \n 538 | \n 225 | \n 383 | \n 10,784 | \n
\n \n | Reversals | \n 0 | \n 0 | \n 0 | \n 25 | \n 0 | \n 25 | \n
\n \n | Use | \n 0 | \n 297 | \n 43 | \n 500 | \n 149 | \n 989 | \n
\n \n | Balance at 31 December 2023 | \n 9,009 | \n 628 | \n 538 | \n 390 | \n 383 | \n 10,949 | \n
\n \n
\n
The charge in other provisions with personnel is \u00a0 mainly due to deferred bonus payments. \u00a0\n
\n \n \n
\n \n \n \n \n \n \n \n \n \n \n \n | \n Provision | \n | \n | \n Other | \n | \n | \n
\n \n | \n for out- | \n | \n | \n provisions | \n | \n | \n
\n \n | \n standing | \n | \n Other provisions | \n for legal | \n Other | \n | \n
\n \n | (IN EUR 1,000) | \n invoices | \n Tax provisions | \n with personnel | \n disputes | \n provisions | \n Total | \n
\n \n | As at 31 December 2021 | \n 0 | \n 183 | \n 71 | \n 0 | \n 98 | \n 351 | \n
\n \n | Charges | \n 0 | \n 297 | \n 43 | \n 690 | \n 149 | \n 1,179 | \n
\n \n | Reversals | \n 0 | \n 0 | \n 0 | \n 0 | \n 0 | \n 0 | \n
\n \n | Use | \n 0 | \n 183 | \n 71 | \n 0 | \n 98 | \n 351 | \n
\n \n | Balance at 31 December 2022 | \n 0 | \n 297 | \n 43 | \n 690 | \n 149 | \n 1,179 | \n
\n \n
\n
27. PERSONNEL\u00a0COSTS \u00a0\n
\n Details of employee bene\ufb01ts expense \u00a0 are as follows: \u00a0\n
\n \n
\n \n \n \n \n \n \n \n | (in EUR 1,000) | \n 2023 | \n 2022 | \n
\n \n | Wages and salaries | \n 6,679 | \n 3,180 | \n
\n \n | Other social charges and taxes | \n 1,155 | \n 566 | \n
\n \n | Stock Option Program 2023 | \n 316 | \n 0 | \n
\n \n | Other employee welfareexpenses | \n 9 | \n 0 | \n
\n \n | Thereof Personnel costs for projects | \n (1,270) | \n 0 | \n
\n \n | Total personnel costs | \n 6,889 | \n 3,746 | \n
\n \n
\n
The average headcount by category of \u00a0 the Group employees for the year ended \u00a031 December 2023, is 81 (31 December \u00a02022: 46). \u00a0\n
\n \n ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfEmployeeBenefitsExplanatory",
"language": "en",
"entity": "scheme:391200TZVOLI3RYBWS74",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"esef-43371_2023": {
"value": "21. CONTRACT\u00a0LIABILITIES \u00a0\n
Details of contract liabilities are as follows: \u00a0\n
\n
\n \n \n \n \n \n \n \n | (in EUR 1,000) | \n 31/12/2023 | \n 31/12/2022 | \n
\n \n | Contract liabilities | \n 1,284 | \n 0 | \n
\n \n
\n
\n 22. FINANCIAL\u00a0RISK \u00a0\n
\n \n MANAGEMENT \u00a0\n
\n \n FINANCIAL RISK FACTORS \u00a0\n
\n \n \n MARKET RISK \u00a0\n
\n \n As part of the \ufb01nancing of its projects, H2APEX \u00a0 uses a leverage effect to limit its equity capital \u00a0contribution. \u00a0\n
\n \n If a project company, or its holding company, were to fail to meet its payment obligations under its \u00a0\ufb01nancing agreements or fail to comply with cer- \u00a0tain minimum debt service coverage ratios, such \u00a0default could render the project debt immediatelydue. In the absence of a waiver or a restructuring \u00a0agreement on the part of the lenders, the lenders \u00a0may be entitled to seize the assets or securities \u00a0pledged as collateral (including H2APEX\u2019s interestin the subsidiary that holds the facility). \u00a0\n
\n \n H2APEX\u2019s business and growth plan require sig- \u00a0 ni\ufb01cant \ufb01nancing and re\ufb01nancing through the useof equity and external debt. In particular, H2APEXwill have to invest signi\ufb01cantly in connection with \u00a0the awarded contracts. The ability to raise addi- \u00a0tional funds will depend on \ufb01nancial and econom-ic conditions, as well as other factors, which may \u00a0be beyond H2APEX\u2019s control. \u00a0\n
\n \n Cash requirements have so far been assured \u00a0 through tools such as shareholder loans, bank \u00a0borrowing, capital increases, issuance of bonds \u00a0and conditional grants and advances. With regardto short-term debt \ufb01nancing, H2APEX is exposedto the risk of changes in interest rates in the eventof a renewed short-term \ufb01nancing, which could \u00a0increase its \ufb01nancing cost and, under certain \u00a0circumstances, lead to a reduction of its return oncapital. It cannot be ruled out that credit institu-tions may in general limit their willingness to grantH2APEX such short-term \ufb01nancing due to severaldifferent developments. \u00a0\n
\n \n Furthermore, equity raisings by H2APEX, such as \u00a0 the issue of new shares to shareholders and new \u00a0investors may not be successful or feasible on \u00a0favorable terms. \u00a0\n
\n \n Lack of ability to obtain suf\ufb01cient funding in the \u00a0 future could have a material adverse effect on \u00a0H2APEX\u2019s growth opportunities, business and \u00a0\ufb01nancial condition and could, in the future, result \u00a0in insolvency or liquidation of H2APEX. \u00a0\n
\n In the EU, and particularly in Germany, several \u00a0 projects support the decarbonization through \u00a0green hydrogen. In Germany, for example, green \u00a0hydrogen \ufb02agship projects are supported with a \u00a0EUR 700 million funding volume, being the largest \u00a0funding initiative ever provided by the German \u00a0Federal Ministry of Education and Research \u00a0(Source: BMBF, National Projects). On EU level, \u00a0important projects of common European interest \u00a0(\u201cIPCEI\u201c) are promoted, including several green \u00a0hydrogen projects. In the context of the hydrogen \u00a0hub \u201cdoing hydrogen\u201d, an initiative which seeks \u00a0to\u00a0connect different hydrogen projects through- \u00a0out Germany to form a hub linking production, \u00a0transport, storage and consumption of hydrogen, \u00a0H2APEX has applied for IPCEI funding in an \u00a0amount of EUR 166 million,. However, H2APEX \u00a0may only partially be granted the amount of \u00a0public funding applied for, if any. Instead, H2APEX \u00a0competitors could bene\ufb01t from public funding. \u00a0This could adversely affect H2APEX competitive \u00a0position, business, and prospects. In case \u00a0H2APEX is granted public funding, such fund- \u00a0ing may be signi\ufb01cantly delayed and, as a result, \u00a0H2APEX may have to bear signi\ufb01cant costs when \u00a0they occur before receiving any public funds. \u00a0Further, the granting of public funding may be \u00a0conditional and require compliance with certain \u00a0\n
\n \n \n \n \n obligations, and it may also restrict H2APEX \u00a0 in the use of funds. In case H2APEX does not \u00a0comply with such conditions, it may have to \u00a0return granted fundings, in part or in whole. \u00a0\n
\n \n In the past, H2APEX has received subsidies in \u00a0 the form of funding for personnel expenses for \u00a0the development of a chemical hydrogen storage \u00a0solution and has applied for further public funds. \u00a0Applications are reviewed on a case-by-case \u00a0basis by the authorities to determine the feasibil- \u00a0ity of the underlying project. Aids or grants are \u00a0the subject of a contract between H2APEX and \u00a0the public entity and are systematically subject \u00a0to objective criteria, such as the relevance of the \u00a0project throughout the contract concluded or \u00a0compliance with certain elements of pro\ufb01tability. \u00a0If H2APEX were to accept a refusal in its request \u00a0for aid, this could also call into question the \u00a0viability of a project and lead to its abandonment. \u00a0\n
\n \n Moreover, existing public policies could be \u00a0 changed or even reversed, due to a law or a regu- \u00a0latory or administrative regulation which seeks \u00a0to favor certain traditional sources of energy or \u00a0alternative renewable energy sources or because \u00a0of budget constraints entailing a reduction in pub- \u00a0lic funds available for the implementation of such \u00a0policies which support decarbonized solutions, \u00a0including green hydrogen. \u00a0\n
\n \n \n \n CREDIT RISK \u00a0\n
\n \n Credit risks exist regarding \ufb01nancial institutions \u00a0 and customers. The credit risk with respect to \u00a0\ufb01nancial institutions predominantly arises from \u00a0liquid funds. In order to minimize a possible risk of \u00a0default, \ufb01nancial instruments are mainly entered \u00a0into with counterparties with prime credit ratings. \u00a0The credit risk with respect to customers consists \u00a0of granting terms of credit and the associated risk \u00a0of default. Credit risk is managed on a group- \u00a0wide basis. Credit risks arise from cash and cash \u00a0equivalents, and deposits with banks and \ufb01nan- \u00a0cial institutions. Credit exposures to customers, \u00a0including outstanding receivables and committed \u00a0transactions, are managed by the individual group \u00a0companies. The monitoring of the credit risks is \u00a0supported by an internal monthly reporting. \u00a0\n
\n \n \n \n \n The tables below show the ageing analysis of \u00a0 \ufb01nancial assets as at 31 December 2023: \u00a0\n
\n \n
\n \n \n \n \n \n \n \n \n \n \n | \n | \n More than 3 | \n | \n | \n | \n
\n \n | \n | \n months and | \n Between 6 | \n | \n | \n
\n \n | 31/12/2023 | \n Less than 3 | \n less than 6 | \n months and | \n More than 1 | \n | \n
\n \n | (IN EUR 1,000) | \n months | \n months | \n less than 1 year | \n year | \n Total | \n
\n \n | Trade and other receivables | \n 838 | \n 3,830 | \n 972 | \n 0 | \n 5,641 | \n
\n \n | Other current \ufb01nancial assets | \n 554 | \n 0 | \n 0 | \n 0 | \n 554 | \n
\n \n | Cash and cash equivalents | \n 44,466 | \n 0 | \n 0 | \n 0 | \n 44,466 | \n
\n \n | Total assets | \n 45,858 | \n 3,830 | \n 972 | \n 0 | \n 50,660 | \n
\n \n
\n
\n Trade and other receivables are over about \u00a0 20 debtors, while the biggest debtor amounts \u00a0to KEUR 3,218. \u00a0\n
\n \n The tables below show the ageing analysis of \u00a0 \ufb01nancial assets as at 31 December 2022: \u00a0\n
\n \n
\n \n \n \n \n \n \n \n \n \n \n | \n | \n More than 3 | \n | \n | \n | \n
\n \n | \n | \n months and | \n Between 6 | \n | \n | \n
\n \n | 31/12/2022 | \n Less than 3 | \n less than 6 | \n months and | \n More than 1 | \n | \n
\n \n | (IN EUR 1,000) | \n months | \n months | \n less than 1 year | \n year | \n Total | \n
\n \n | Trade and other receivables | \n 724 | \n 0 | \n 0 | \n 0 | \n 724 | \n
\n \n | Other current \ufb01nancial assets | \n 826 | \n 0 | \n 1,641 | \n 9,625 | \n 12,092 | \n
\n \n | Cash and cash equivalents | \n 149 | \n 0 | \n 0 | \n 0 | \n 149 | \n
\n \n | Total assets | \n 1,699 | \n 0 | \n 1,641 | \n 9,625 | \n 12,965 | \n
\n \n
\n
\n LIQUIDITY RISK \u00a0\n
\n \n Liquidity risk arises from the Group\u2019s manage- \u00a0 ment of working capital and the \ufb01nance charges \u00a0and principal repayments on its debt instru- \u00a0ments. It represents the risk that the group will \u00a0encounter dif\ufb01cultly in meeting its \ufb01nancial \u00a0obligation as they are fall due. The monitoring \u00a0of the Liquidity risks is supported by an internal \u00a0monthly reporting. \u00a0\n
\n \n \n \n \n \n The table below provides a maturity of the Group\u2019s \u00a0 non-derivative third party \ufb01nancial liabilities as \u00a0at 31 December 2023 and 2022. The amounts \u00a0disclosed in the table are the contracted undis- \u00a0counted cash \ufb02ows. \u00a0\n
\n
\n \n \n \n \n \n \n \n \n \n | 31/12/2023 | \n | \n Between 1 to 5 | \n | \n | \n
\n \n | (IN EUR 1,000) | \n Less than 1 year | \n years | \n Over 5 years | \n Total | \n
\n \n | Debt with credit institutions | \n 163 | \n 0 | \n 0 | \n 163 | \n
\n \n | Trade and other payables | \n 5,176 | \n 0 | \n 0 | \n 5,176 | \n
\n \n | Bonds and notes issued: | \n 0 | \n 0 | \n 0 | \n 0 | \n
\n \n | Other \ufb01nancial liabilities | \n 10,448 | \n 7,500 | \n 25,609 | \n 43,557 | \n
\n \n | Total liabilities | \n 15,787 | \n 7,500 | \n 25,609 | \n 48,896 | \n
\n \n
\n
\n
\n \n \n \n \n \n \n \n \n \n | 31/12/2022 | \n | \n Between 1 to 5 | \n | \n | \n
\n \n | (IN EUR 1,000) | \n Less than 1 year | \n years | \n Over 5 years | \n Total | \n
\n \n | Debt with credit institutions | \n 1,606 | \n 192 | \n 0 | \n 1,798 | \n
\n \n | Trade and other payables | \n 6,000 | \n 0 | \n 0 | \n 6,000 | \n
\n \n | Bonds and notes issued: | \n 0 | \n 9,131 | \n 0 | \n 9,131 | \n
\n \n | Other \ufb01nancial liabilities | \n 9,077 | \n 41,140 | \n 0 | \n 50,217 | \n
\n \n | Total liabilities | \n 16,683 | \n 50,464 | \n 0 | \n 67,147 | \n
\n \n
\n
\n The Board of Managers of the General Partner \u00a0 assesses and monitors cash \ufb02ows of the Group \u00a0to ensure the Group has suf\ufb01cient cash\u00a0on \u00a0demand to meet expected normal operational \u00a0expenses, including the servicing of \ufb01nancial \u00a0obligations. \u00a0\n
\n \n \n \n \n Interest rate risk \u00a0\n
\n The group currently has no interest rate risk. T \u00a0 he debt with credit institution were paid in full in \u00a0February 2024. Currently all the borrowing are \u00a0agreed at \ufb01xed interest rate over the entire term. \u00a0In general, interest rate risk could arising from \u00a0if future long term borrowings intersts would \u00a0\ufb02uctuate because of changes in market interest \u00a0rates. \u00a0\n
\n Foreign exchange risk \u00a0\n
\n The Group companies operate mostly in Euro \u00a0 (EUR). In general foreign currencies are only kept \u00a0if future payments are expected to be made in \u00a0a particular currency. The Group is exposed to \u00a0foreign exchange risks especially with regards to \u00a0CHF/EUR and USD/EUR based on bank deposits \u00a0or intercompany loans in foreign currency. \u00a0\n
\n ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFinancialRiskManagementExplanatory",
"language": "en",
"entity": "scheme:391200TZVOLI3RYBWS74",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"esef-43432_2023": {
"value": "\n \n MARKET RISK \u00a0\n
\n \n As part of the \ufb01nancing of its projects, H2APEX \u00a0 uses a leverage effect to limit its equity capital \u00a0contribution. \u00a0\n
\n \n If a project company, or its holding company, were to fail to meet its payment obligations under its \u00a0\ufb01nancing agreements or fail to comply with cer- \u00a0tain minimum debt service coverage ratios, such \u00a0default could render the project debt immediatelydue. In the absence of a waiver or a restructuring \u00a0agreement on the part of the lenders, the lenders \u00a0may be entitled to seize the assets or securities \u00a0pledged as collateral (including H2APEX\u2019s interestin the subsidiary that holds the facility). \u00a0\n
\n \n H2APEX\u2019s business and growth plan require sig- \u00a0 ni\ufb01cant \ufb01nancing and re\ufb01nancing through the useof equity and external debt. In particular, H2APEXwill have to invest signi\ufb01cantly in connection with \u00a0the awarded contracts. The ability to raise addi- \u00a0tional funds will depend on \ufb01nancial and econom-ic conditions, as well as other factors, which may \u00a0be beyond H2APEX\u2019s control. \u00a0\n
\n \n Cash requirements have so far been assured \u00a0 through tools such as shareholder loans, bank \u00a0borrowing, capital increases, issuance of bonds \u00a0and conditional grants and advances. With regardto short-term debt \ufb01nancing, H2APEX is exposedto the risk of changes in interest rates in the eventof a renewed short-term \ufb01nancing, which could \u00a0increase its \ufb01nancing cost and, under certain \u00a0circumstances, lead to a reduction of its return oncapital. It cannot be ruled out that credit institu-tions may in general limit their willingness to grantH2APEX such short-term \ufb01nancing due to severaldifferent developments. \u00a0\n
\n \n Furthermore, equity raisings by H2APEX, such as \u00a0 the issue of new shares to shareholders and new \u00a0investors may not be successful or feasible on \u00a0favorable terms. \u00a0\n
\n \n Lack of ability to obtain suf\ufb01cient funding in the \u00a0 future could have a material adverse effect on \u00a0H2APEX\u2019s growth opportunities, business and \u00a0\ufb01nancial condition and could, in the future, result \u00a0in insolvency or liquidation of H2APEX. \u00a0\n
\n In the EU, and particularly in Germany, several \u00a0 projects support the decarbonization through \u00a0green hydrogen. In Germany, for example, green \u00a0hydrogen \ufb02agship projects are supported with a \u00a0EUR 700 million funding volume, being the largest \u00a0funding initiative ever provided by the German \u00a0Federal Ministry of Education and Research \u00a0(Source: BMBF, National Projects). On EU level, \u00a0important projects of common European interest \u00a0(\u201cIPCEI\u201c) are promoted, including several green \u00a0hydrogen projects. In the context of the hydrogen \u00a0hub \u201cdoing hydrogen\u201d, an initiative which seeks \u00a0to\u00a0connect different hydrogen projects through- \u00a0out Germany to form a hub linking production, \u00a0transport, storage and consumption of hydrogen, \u00a0H2APEX has applied for IPCEI funding in an \u00a0amount of EUR 166 million,. However, H2APEX \u00a0may only partially be granted the amount of \u00a0public funding applied for, if any. Instead, H2APEX \u00a0competitors could bene\ufb01t from public funding. \u00a0This could adversely affect H2APEX competitive \u00a0position, business, and prospects. In case \u00a0H2APEX is granted public funding, such fund- \u00a0ing may be signi\ufb01cantly delayed and, as a result, \u00a0H2APEX may have to bear signi\ufb01cant costs when \u00a0they occur before receiving any public funds. \u00a0Further, the granting of public funding may be \u00a0conditional and require compliance with certain \u00a0\n
\n \n \n obligations, and it may also restrict H2APEX \u00a0 in the use of funds. In case H2APEX does not \u00a0comply with such conditions, it may have to \u00a0return granted fundings, in part or in whole. \u00a0\n
\n \n In the past, H2APEX has received subsidies in \u00a0 the form of funding for personnel expenses for \u00a0the development of a chemical hydrogen storage \u00a0solution and has applied for further public funds. \u00a0Applications are reviewed on a case-by-case \u00a0basis by the authorities to determine the feasibil- \u00a0ity of the underlying project. Aids or grants are \u00a0the subject of a contract between H2APEX and \u00a0the public entity and are systematically subject \u00a0to objective criteria, such as the relevance of the \u00a0project throughout the contract concluded or \u00a0compliance with certain elements of pro\ufb01tability. \u00a0If H2APEX were to accept a refusal in its request \u00a0for aid, this could also call into question the \u00a0viability of a project and lead to its abandonment. \u00a0\n
\n \n Moreover, existing public policies could be \u00a0 changed or even reversed, due to a law or a regu- \u00a0latory or administrative regulation which seeks \u00a0to favor certain traditional sources of energy or \u00a0alternative renewable energy sources or because \u00a0of budget constraints entailing a reduction in pub- \u00a0lic funds available for the implementation of such \u00a0policies which support decarbonized solutions, \u00a0including green hydrogen. \u00a0\n
\n \n Interest rate risk \u00a0\n
\n The group currently has no interest rate risk. T \u00a0 he debt with credit institution were paid in full in \u00a0February 2024. Currently all the borrowing are \u00a0agreed at \ufb01xed interest rate over the entire term. \u00a0In general, interest rate risk could arising from \u00a0if future long term borrowings intersts would \u00a0\ufb02uctuate because of changes in market interest \u00a0rates. \u00a0\n
\n Foreign exchange risk \u00a0\n
\n The Group companies operate mostly in Euro \u00a0 (EUR). In general foreign currencies are only kept \u00a0if future payments are expected to be made in \u00a0a particular currency. The Group is exposed to \u00a0foreign exchange risks especially with regards to \u00a0CHF/EUR and USD/EUR based on bank deposits \u00a0or intercompany loans in foreign currency. \u00a0\n
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfMarketRiskExplanatory",
"language": "en",
"entity": "scheme:391200TZVOLI3RYBWS74",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"esef-43368_2023": {
"value": "\n \n CREDIT RISK \u00a0\n
\n \n Credit risks exist regarding \ufb01nancial institutions \u00a0 and customers. The credit risk with respect to \u00a0\ufb01nancial institutions predominantly arises from \u00a0liquid funds. In order to minimize a possible risk of \u00a0default, \ufb01nancial instruments are mainly entered \u00a0into with counterparties with prime credit ratings. \u00a0The credit risk with respect to customers consists \u00a0of granting terms of credit and the associated risk \u00a0of default. Credit risk is managed on a group- \u00a0wide basis. Credit risks arise from cash and cash \u00a0equivalents, and deposits with banks and \ufb01nan- \u00a0cial institutions. Credit exposures to customers, \u00a0including outstanding receivables and committed \u00a0transactions, are managed by the individual group \u00a0companies. The monitoring of the credit risks is \u00a0supported by an internal monthly reporting. \u00a0\n
\n \n \n The tables below show the ageing analysis of \u00a0 \ufb01nancial assets as at 31 December 2023: \u00a0\n
\n \n
\n \n \n \n \n \n \n \n \n \n \n | \n | \n More than 3 | \n | \n | \n | \n
\n \n | \n | \n months and | \n Between 6 | \n | \n | \n
\n \n | 31/12/2023 | \n Less than 3 | \n less than 6 | \n months and | \n More than 1 | \n | \n
\n \n | (IN EUR 1,000) | \n months | \n months | \n less than 1 year | \n year | \n Total | \n
\n \n | Trade and other receivables | \n 838 | \n 3,830 | \n 972 | \n 0 | \n 5,641 | \n
\n \n | Other current \ufb01nancial assets | \n 554 | \n 0 | \n 0 | \n 0 | \n 554 | \n
\n \n | Cash and cash equivalents | \n 44,466 | \n 0 | \n 0 | \n 0 | \n 44,466 | \n
\n \n | Total assets | \n 45,858 | \n 3,830 | \n 972 | \n 0 | \n 50,660 | \n
\n \n
\n
\n Trade and other receivables are over about \u00a0 20 debtors, while the biggest debtor amounts \u00a0to KEUR 3,218. \u00a0\n
\n \n The tables below show the ageing analysis of \u00a0 \ufb01nancial assets as at 31 December 2022: \u00a0\n
\n \n
\n \n \n \n \n \n \n \n \n \n \n | \n | \n More than 3 | \n | \n | \n | \n
\n \n | \n | \n months and | \n Between 6 | \n | \n | \n
\n \n | 31/12/2022 | \n Less than 3 | \n less than 6 | \n months and | \n More than 1 | \n | \n
\n \n | (IN EUR 1,000) | \n months | \n months | \n less than 1 year | \n year | \n Total | \n
\n \n | Trade and other receivables | \n 724 | \n 0 | \n 0 | \n 0 | \n 724 | \n
\n \n | Other current \ufb01nancial assets | \n 826 | \n 0 | \n 1,641 | \n 9,625 | \n 12,092 | \n
\n \n | Cash and cash equivalents | \n 149 | \n 0 | \n 0 | \n 0 | \n 149 | \n
\n \n | Total assets | \n 1,699 | \n 0 | \n 1,641 | \n 9,625 | \n 12,965 | \n
\n \n
\n
\n LIQUIDITY RISK \u00a0\n
\n \n Liquidity risk arises from the Group\u2019s manage- \u00a0 ment of working capital and the \ufb01nance charges \u00a0and principal repayments on its debt instru- \u00a0ments. It represents the risk that the group will \u00a0encounter dif\ufb01cultly in meeting its \ufb01nancial \u00a0obligation as they are fall due. The monitoring \u00a0of the Liquidity risks is supported by an internal \u00a0monthly reporting. \u00a0\n
\n \n \n The table below provides a maturity of the Group\u2019s \u00a0 non-derivative third party \ufb01nancial liabilities as \u00a0at 31 December 2023 and 2022. The amounts \u00a0disclosed in the table are the contracted undis- \u00a0counted cash \ufb02ows. \u00a0\n
\n
\n \n \n \n \n \n \n \n \n \n | 31/12/2023 | \n | \n Between 1 to 5 | \n | \n | \n
\n \n | (IN EUR 1,000) | \n Less than 1 year | \n years | \n Over 5 years | \n Total | \n
\n \n | Debt with credit institutions | \n 163 | \n 0 | \n 0 | \n 163 | \n
\n \n | Trade and other payables | \n 5,176 | \n 0 | \n 0 | \n 5,176 | \n
\n \n | Bonds and notes issued: | \n 0 | \n 0 | \n 0 | \n 0 | \n
\n \n | Other \ufb01nancial liabilities | \n 10,448 | \n 7,500 | \n 25,609 | \n 43,557 | \n
\n \n | Total liabilities | \n 15,787 | \n 7,500 | \n 25,609 | \n 48,896 | \n
\n \n
\n
\n
\n \n \n \n \n \n \n \n \n \n | 31/12/2022 | \n | \n Between 1 to 5 | \n | \n | \n
\n \n | (IN EUR 1,000) | \n Less than 1 year | \n years | \n Over 5 years | \n Total | \n
\n \n | Debt with credit institutions | \n 1,606 | \n 192 | \n 0 | \n 1,798 | \n
\n \n | Trade and other payables | \n 6,000 | \n 0 | \n 0 | \n 6,000 | \n
\n \n | Bonds and notes issued: | \n 0 | \n 9,131 | \n 0 | \n 9,131 | \n
\n \n | Other \ufb01nancial liabilities | \n 9,077 | \n 41,140 | \n 0 | \n 50,217 | \n
\n \n | Total liabilities | \n 16,683 | \n 50,464 | \n 0 | \n 67,147 | \n
\n \n
\n
\n The Board of Managers of the General Partner \u00a0 assesses and monitors cash \ufb02ows of the Group \u00a0to ensure the Group has suf\ufb01cient cash\u00a0on \u00a0demand to meet expected normal operational \u00a0expenses, including the servicing of \ufb01nancial \u00a0obligations. \u00a0\n
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfLiquidityRiskExplanatory",
"language": "en",
"entity": "scheme:391200TZVOLI3RYBWS74",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"esef-43365_2023": {
"value": "23. OTHER\u00a0FINANCIAL OBLIGATIONS/ \u00a0\n
COMMITMENTS AND CONTINGENCIES \u00a0\n
23.1 RENTAL\u00a0AND LEASE CONTRACTS \u00a0\n
Description of rental and lease contracts (short term and below EUR 5) \u00a0\n
\n
\n \n \n \n \n \n \n \n | (in EUR 1,000) | \n 2023 | \n 2022 | \n
\n \n | OPERATING LEASE OBLIGATIONS (RENTAL) AS OF 31 DECEMBER | \n | \n | \n
\n \n | < 1 year | \n 0 | \n 0 | \n
\n \n | > 1 - 5 years | \n 0 | \n 0 | \n
\n \n | More than 5 years | \n 0 | \n 0 | \n
\n \n | Total | \n 0 | \n 0 | \n
\n \n
\n
\n
\n \n \n \n \n \n \n \n | (in EUR 1,000) | \n 2023 | \n 2022 | \n
\n \n | FINANCE LEASE OBLIGATIONS AS OF 31 DECEMBER | \n | \n | \n
\n \n | < 1 year | \n 18 | \n 0 | \n
\n \n | > 1 - 5 years | \n 0 | \n 9 | \n
\n \n | More than 5 years | \n 0 | \n 0 | \n
\n \n | Total | \n 18 | \n 0 | \n
\n \n | Future \ufb01nance charges on \ufb01nance lease | \n 0 | \n 0 | \n
\n \n | Present value of \ufb01nance lease liabilities | \n 18 | \n 0 | \n
\n \n
\n
The present value of \ufb01nance lease liabilities is as follows: \u00a0\n
\n
\n \n \n \n \n \n \n \n | (in EUR 1,000) | \n 2023 | \n 2022 | \n
\n \n | < 1 year | \n 18 | \n 0 | \n
\n \n | > 1 - 5 years | \n 0 | \n 9 | \n
\n \n | More than 5 years | \n 0 | \n 0 | \n
\n \n | Present value of future \ufb01nance lease liabilities | \n 18 | \n 0 | \n
\n \n
\n
In the financial year 2023, the rental and leasing \u00a0 expenses for short term (up to 12 month) are \u00a0KEUR 18 (2022: KEUR 0). \u00a0\n
23.2 LETTER OF GUARANTEE \u00a0\n
In connection with the sale of its subsidiary exceet Secure Solutions GmbH in 2021, the Company granted to the purchaser an independent guarantee to fulfil any and all payment claims of the purchaser against the seller (being the indirect subsidiary exceet Group AG) under the share purchase agreement up to an amount of EUR 4,912,409 in case the seller has not paid such claims to the purchaser when due and payable under the share purchase agreement. The guarantee expires seven years after the closing date, which was 30 April 2021.\n
\n \n No contingent liabilities towards related parties \u00a0 (2022: EUR 0). \u00a0\n
\n ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfCommitmentsAndContingentLiabilitiesExplanatory",
"language": "en",
"entity": "scheme:391200TZVOLI3RYBWS74",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"esef-43364_2023": {
"value": "23. OTHER\u00a0FINANCIAL OBLIGATIONS/ \u00a0\n
COMMITMENTS AND CONTINGENCIES \u00a0\n
23.1 RENTAL\u00a0AND LEASE CONTRACTS \u00a0\n
Description of rental and lease contracts (short term and below EUR 5) \u00a0\n
\n
\n \n \n \n \n \n \n \n | (in EUR 1,000) | \n 2023 | \n 2022 | \n
\n \n | OPERATING LEASE OBLIGATIONS (RENTAL) AS OF 31 DECEMBER | \n | \n | \n
\n \n | < 1 year | \n 0 | \n 0 | \n
\n \n | > 1 - 5 years | \n 0 | \n 0 | \n
\n \n | More than 5 years | \n 0 | \n 0 | \n
\n \n | Total | \n 0 | \n 0 | \n
\n \n
\n
\n
\n \n \n \n \n \n \n \n | (in EUR 1,000) | \n 2023 | \n 2022 | \n
\n \n | FINANCE LEASE OBLIGATIONS AS OF 31 DECEMBER | \n | \n | \n
\n \n | < 1 year | \n 18 | \n 0 | \n
\n \n | > 1 - 5 years | \n 0 | \n 9 | \n
\n \n | More than 5 years | \n 0 | \n 0 | \n
\n \n | Total | \n 18 | \n 0 | \n
\n \n | Future \ufb01nance charges on \ufb01nance lease | \n 0 | \n 0 | \n
\n \n | Present value of \ufb01nance lease liabilities | \n 18 | \n 0 | \n
\n \n
\n
The present value of \ufb01nance lease liabilities is as follows: \u00a0\n
\n
\n \n \n \n \n \n \n \n | (in EUR 1,000) | \n 2023 | \n 2022 | \n
\n \n | < 1 year | \n 18 | \n 0 | \n
\n \n | > 1 - 5 years | \n 0 | \n 9 | \n
\n \n | More than 5 years | \n 0 | \n 0 | \n
\n \n | Present value of future \ufb01nance lease liabilities | \n 18 | \n 0 | \n
\n \n
\n
In the financial year 2023, the rental and leasing \u00a0 expenses for short term (up to 12 month) are \u00a0KEUR 18 (2022: KEUR 0). \u00a0\n
23.2 LETTER OF GUARANTEE \u00a0\n
In connection with the sale of its subsidiary exceet Secure Solutions GmbH in 2021, the Company granted to the purchaser an independent guarantee to fulfil any and all payment claims of the purchaser against the seller (being the indirect subsidiary exceet Group AG) under the share purchase agreement up to an amount of EUR 4,912,409 in case the seller has not paid such claims to the purchaser when due and payable under the share purchase agreement. The guarantee expires seven years after the closing date, which was 30 April 2021.\n
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfCommitmentsExplanatory",
"language": "en",
"entity": "scheme:391200TZVOLI3RYBWS74",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"esef-43441_2023": {
"value": "\n 24. OTHER\u00a0CURRENT \u00a0\n
\n LIABILITIES \u00a0\n
\n Details of other current liabilities are as follows: \u00a0\n
\n \n
\n \n \n \n \n \n \n \n | (in EUR 1,000) | \n 31/12/2023 | \n 31/12/2022 | \n
\n \n | Tax liabilities other than income taxes | \n 897 | \n 0 | \n
\n \n | Lease liabilities | \n 528 | \n 0 | \n
\n \n | Deposits received | \n 384 | \n 0 | \n
\n \n | Social security, wages and salaries | \n 168 | \n 249 | \n
\n \n | Other liabilities | \n 32 | \n 80 | \n
\n \n | Total other current liabilities | \n 2,010 | \n 329 | \n
\n \n
\n
25. REVENUE \u00a0\n
\n Details of revenues by category of activity are as \u00a0 follows: \u00a0\n
\n \n
\n \n \n \n \n \n \n \n | (in EUR 1,000) | \n 2023 | \n 2022 | \n
\n \n | Revenue from project development - PoC | \n 14,819 | \n 3,476 | \n
\n \n | Revenue from own operations - Point of time | \n 478 | \n 372 | \n
\n \n | Total revenue | \n 15,297 | \n 3,848 | \n
\n \n
\n
The increase in revenue from project develop- \u00a0 ment can be attributed to the start of processing \u00a03 additional projects as well as the project \u00a0progress within the ongoing projects in the \u00a0\ufb01nancial year ended 31 December 2023. \u00a0\n
\n \n \n 26. MATERIAL\u00a0COSTS \u00a0\n
\n Details of material costs by category of activity \u00a0 are as follows: \u00a0\n
\n \n
\n \n \n \n \n \n \n \n | (in EUR 1,000) | \n 2023 | \n 2022 | \n
\n \n | Material and external services | \n 12,410 | \n 3,061 | \n
\n \n | Personnel costs for project | \n 1,270 | \n 0 | \n
\n \n | Other supplies | \n 3 | \n 57 | \n
\n \n | Total material costs | \n 13,684 | \n 3,118 | \n
\n \n
\n
The increase in material costs correlates with \u00a0 the development of sales in the \ufb01nancial year \u00a0ended 31 December 2023. \u00a0\n
\n \n \n 27. PERSONNEL\u00a0COSTS \u00a0\n
\n Details of employee bene\ufb01ts expense \u00a0 are as follows: \u00a0\n
\n \n
\n \n \n \n \n \n \n \n | (in EUR 1,000) | \n 2023 | \n 2022 | \n
\n \n | Wages and salaries | \n 6,679 | \n 3,180 | \n
\n \n | Other social charges and taxes | \n 1,155 | \n 566 | \n
\n \n | Stock Option Program 2023 | \n 316 | \n 0 | \n
\n \n | Other employee welfareexpenses | \n 9 | \n 0 | \n
\n \n | Thereof Personnel costs for projects | \n (1,270) | \n 0 | \n
\n \n | Total personnel costs | \n 6,889 | \n 3,746 | \n
\n \n
\n
The average headcount by category of \u00a0 the Group employees for the year ended \u00a031 December 2023, is 81 (31 December \u00a02022: 46). \u00a0\n
\n \n \n 28. OTHER\u00a0OPERATING \u00a0\n
\n EXPENSES \u00a0\n
\n Details of other operating expenses \u00a0 are as follows: \u00a0\n
\n \n \n \n \n
\n \n \n \n \n \n \n \n | (in EUR 1,000) | \n 2023 | \n 2022 | \n
\n \n | Legal and consulting fees | \n 4,516 | \n 2,297 | \n
\n \n | Research costs | \n 1,967 | \n 76 | \n
\n \n | Supervisory Board fees | \n 1,933 | \n 0 | \n
\n \n | Bank and otherfees | \n 939 | \n 0 | \n
\n \n | Marketing costs | \n 860 | \n 827 | \n
\n \n | Building and premises costs | \n 817 | \n 670 | \n
\n \n | Costs for settlement agreement | \n 643 | \n 525 | \n
\n \n | Repairs and maintenance | \n 582 | \n 305 | \n
\n \n | Operational Leasing | \n 0 | \n 149 | \n
\n \n | Insurance premiums | \n 150 | \n 142 | \n
\n \n | Other expenses | \n 325 | \n 968 | \n
\n \n | Total other operating\u00a0expenses | \n 12,732 | \n 5,960 | \n
\n \n
\n
The costs for the Supervisory Board fees\u00a0in the \u00a0 \ufb01nancial year 2023 includes\u00a0in KEUR 1,630 for \u00a0the Stock option program 2022: EUR 0.00). \u00a0We refer to note 33. \u00a0\n
\n \n ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfProfitLossFromOperatingActivitiesExplanatory",
"language": "en",
"entity": "scheme:391200TZVOLI3RYBWS74",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"esef-43384_2023": {
"value": "\n \n \n \n 26. MATERIAL\u00a0COSTS \u00a0\n
\n Details of material costs by category of activity \u00a0 are as follows: \u00a0\n
\n \n
\n \n \n \n \n \n \n \n | (in EUR 1,000) | \n 2023 | \n 2022 | \n
\n \n | Material and external services | \n 12,410 | \n 3,061 | \n
\n \n | Personnel costs for project | \n 1,270 | \n 0 | \n
\n \n | Other supplies | \n 3 | \n 57 | \n
\n \n | Total material costs | \n 13,684 | \n 3,118 | \n
\n \n
\n
The increase in material costs correlates with \u00a0 the development of sales in the \ufb01nancial year \u00a0ended 31 December 2023. \u00a0\n
\n \n \n \n \n \n \n \n 27. PERSONNEL\u00a0COSTS \u00a0\n
\n Details of employee bene\ufb01ts expense \u00a0 are as follows: \u00a0\n
\n \n
\n \n \n \n \n \n \n \n | (in EUR 1,000) | \n 2023 | \n 2022 | \n
\n \n | Wages and salaries | \n 6,679 | \n 3,180 | \n
\n \n | Other social charges and taxes | \n 1,155 | \n 566 | \n
\n \n | Stock Option Program 2023 | \n 316 | \n 0 | \n
\n \n | Other employee welfareexpenses | \n 9 | \n 0 | \n
\n \n | Thereof Personnel costs for projects | \n (1,270) | \n 0 | \n
\n \n | Total personnel costs | \n 6,889 | \n 3,746 | \n
\n \n
\n
The average headcount by category of \u00a0 the Group employees for the year ended \u00a031 December 2023, is 81 (31 December \u00a02022: 46). \u00a0\n
\n \n \n \n \n \n \n 28. OTHER\u00a0OPERATING \u00a0\n
\n EXPENSES \u00a0\n
\n Details of other operating expenses \u00a0 are as follows: \u00a0\n
\n \n \n \n \n
\n \n \n \n \n \n \n \n | (in EUR 1,000) | \n 2023 | \n 2022 | \n
\n \n | Legal and consulting fees | \n 4,516 | \n 2,297 | \n
\n \n | Research costs | \n 1,967 | \n 76 | \n
\n \n | Supervisory Board fees | \n 1,933 | \n 0 | \n
\n \n | Bank and otherfees | \n 939 | \n 0 | \n
\n \n | Marketing costs | \n 860 | \n 827 | \n
\n \n | Building and premises costs | \n 817 | \n 670 | \n
\n \n | Costs for settlement agreement | \n 643 | \n 525 | \n
\n \n | Repairs and maintenance | \n 582 | \n 305 | \n
\n \n | Operational Leasing | \n 0 | \n 149 | \n
\n \n | Insurance premiums | \n 150 | \n 142 | \n
\n \n | Other expenses | \n 325 | \n 968 | \n
\n \n | Total other operating\u00a0expenses | \n 12,732 | \n 5,960 | \n
\n \n
\n
The costs for the Supervisory Board fees\u00a0in the \u00a0 \ufb01nancial year 2023 includes\u00a0in KEUR 1,630 for \u00a0the Stock option program 2022: EUR 0.00). \u00a0We refer to note 33. \u00a0\n
\n \n \n ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfExpensesExplanatory",
"language": "en",
"entity": "scheme:391200TZVOLI3RYBWS74",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"esef-43367_2023": {
"value": "\n \n \n 26. MATERIAL\u00a0COSTS \u00a0\n
\n Details of material costs by category of activity \u00a0 are as follows: \u00a0\n
\n \n
\n \n \n \n \n \n \n \n | (in EUR 1,000) | \n 2023 | \n 2022 | \n
\n \n | Material and external services | \n 12,410 | \n 3,061 | \n
\n \n | Personnel costs for project | \n 1,270 | \n 0 | \n
\n \n | Other supplies | \n 3 | \n 57 | \n
\n \n | Total material costs | \n 13,684 | \n 3,118 | \n
\n \n
\n
The increase in material costs correlates with \u00a0 the development of sales in the \ufb01nancial year \u00a0ended 31 December 2023. \u00a0\n
\n \n \n ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfCostOfSalesExplanatory",
"language": "en",
"entity": "scheme:391200TZVOLI3RYBWS74",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"esef-43385_2023": {
"value": "\n 26. MATERIAL\u00a0COSTS \u00a0\n
\n Details of material costs by category of activity \u00a0 are as follows: \u00a0\n
\n \n
\n \n \n \n \n \n \n \n | (in EUR 1,000) | \n 2023 | \n 2022 | \n
\n \n | Material and external services | \n 12,410 | \n 3,061 | \n
\n \n | Personnel costs for project | \n 1,270 | \n 0 | \n
\n \n | Other supplies | \n 3 | \n 57 | \n
\n \n | Total material costs | \n 13,684 | \n 3,118 | \n
\n \n
\n
The increase in material costs correlates with \u00a0 the development of sales in the \ufb01nancial year \u00a0ended 31 December 2023. \u00a0\n
\n \n \n \n 27. PERSONNEL\u00a0COSTS \u00a0\n
\n Details of employee bene\ufb01ts expense \u00a0 are as follows: \u00a0\n
\n \n
\n \n \n \n \n \n \n \n | (in EUR 1,000) | \n 2023 | \n 2022 | \n
\n \n | Wages and salaries | \n 6,679 | \n 3,180 | \n
\n \n | Other social charges and taxes | \n 1,155 | \n 566 | \n
\n \n | Stock Option Program 2023 | \n 316 | \n 0 | \n
\n \n | Other employee welfareexpenses | \n 9 | \n 0 | \n
\n \n | Thereof Personnel costs for projects | \n (1,270) | \n 0 | \n
\n \n | Total personnel costs | \n 6,889 | \n 3,746 | \n
\n \n
\n
The average headcount by category of \u00a0 the Group employees for the year ended \u00a031 December 2023, is 81 (31 December \u00a02022: 46). \u00a0\n
\n \n \n \n 28. OTHER\u00a0OPERATING \u00a0\n
\n EXPENSES \u00a0\n
\n Details of other operating expenses \u00a0 are as follows: \u00a0\n
\n \n \n \n \n
\n \n \n \n \n \n \n \n | (in EUR 1,000) | \n 2023 | \n 2022 | \n
\n \n | Legal and consulting fees | \n 4,516 | \n 2,297 | \n
\n \n | Research costs | \n 1,967 | \n 76 | \n
\n \n | Supervisory Board fees | \n 1,933 | \n 0 | \n
\n \n | Bank and otherfees | \n 939 | \n 0 | \n
\n \n | Marketing costs | \n 860 | \n 827 | \n
\n \n | Building and premises costs | \n 817 | \n 670 | \n
\n \n | Costs for settlement agreement | \n 643 | \n 525 | \n
\n \n | Repairs and maintenance | \n 582 | \n 305 | \n
\n \n | Operational Leasing | \n 0 | \n 149 | \n
\n \n | Insurance premiums | \n 150 | \n 142 | \n
\n \n | Other expenses | \n 325 | \n 968 | \n
\n \n | Total other operating\u00a0expenses | \n 12,732 | \n 5,960 | \n
\n \n
\n
The costs for the Supervisory Board fees\u00a0in the \u00a0 \ufb01nancial year 2023 includes\u00a0in KEUR 1,630 for \u00a0the Stock option program 2022: EUR 0.00). \u00a0We refer to note 33. \u00a0\n
\n ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfExpensesByNatureExplanatory",
"language": "en",
"entity": "scheme:391200TZVOLI3RYBWS74",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"esef-43409_2023": {
"value": "The average headcount by category of \u00a0 the Group employees for the year ended \u00a031 December 2023, is 81 (31 December \u00a02022: 46). \u00a0\n
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfInformationAboutEmployeesExplanatory",
"language": "en",
"entity": "scheme:391200TZVOLI3RYBWS74",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"esef-43445_2023": {
"value": "\n \n \n \n
\n \n \n \n \n \n \n \n | (in EUR 1,000) | \n 2023 | \n 2022 | \n
\n \n | Legal and consulting fees | \n 4,516 | \n 2,297 | \n
\n \n | Research costs | \n 1,967 | \n 76 | \n
\n \n | Supervisory Board fees | \n 1,933 | \n 0 | \n
\n \n | Bank and otherfees | \n 939 | \n 0 | \n
\n \n | Marketing costs | \n 860 | \n 827 | \n
\n \n | Building and premises costs | \n 817 | \n 670 | \n
\n \n | Costs for settlement agreement | \n 643 | \n 525 | \n
\n \n | Repairs and maintenance | \n 582 | \n 305 | \n
\n \n | Operational Leasing | \n 0 | \n 149 | \n
\n \n | Insurance premiums | \n 150 | \n 142 | \n
\n \n | Other expenses | \n 325 | \n 968 | \n
\n \n | Total other operating\u00a0expenses | \n 12,732 | \n 5,960 | \n
\n \n
\n
\n
\n \n \n \n \n \n \n \n | (in EUR 1,000) | \n 2023 | \n 2022 | \n
\n \n | Legal and consulting fees | \n 4,516 | \n 2,297 | \n
\n \n | Research costs | \n 1,967 | \n 76 | \n
\n \n | Supervisory Board fees | \n 1,933 | \n 0 | \n
\n \n | Bank and otherfees | \n 939 | \n 0 | \n
\n \n | Marketing costs | \n 860 | \n 827 | \n
\n \n | Building and premises costs | \n 817 | \n 670 | \n
\n \n | Costs for settlement agreement | \n 643 | \n 525 | \n
\n \n | Repairs and maintenance | \n 582 | \n 305 | \n
\n \n | Operational Leasing | \n 0 | \n 149 | \n
\n \n | Insurance premiums | \n 150 | \n 142 | \n
\n \n | Other expenses | \n 325 | \n 968 | \n
\n \n | Total other operating\u00a0expenses | \n 12,732 | \n 5,960 | \n
\n \n
\n
29. FINANCIAL\u00a0INCOME \u00a0\n
\n \n \n \n \n \n \n Details of \ufb01nancial income are as follows: \u00a0\n
\n \n
\n \n \n \n \n \n \n \n | (in EUR 1,000) | \n 2023 | \n 2022 | \n
\n \n | Interest bank accounts | \n 345 | \n 0 | \n
\n \n | FX gains | \n 80 | \n 0 | \n
\n \n | Other \ufb01nancial income | \n 254 | \n 513 | \n
\n \n | Total financial income | \n 679 | \n 513 | \n
\n \n
\n
30. FINANCIAL\u00a0EXPENSES \u00a0\n
\n Details of \ufb01nancial expenses are as follows: \u00a0\n
\n \n
\n \n \n \n \n \n \n \n | (in EUR 1,000) | \n 2023 | \n 2022 | \n
\n \n | FX losses | \n 109 | \n 0 | \n
\n \n | Interest on amounts owed to credit institutions | \n 79 | \n 231 | \n
\n \n | Interest on other Financial liabilities | \n 2,160 | \n 3,253 | \n
\n \n | Interest on bonds issued | \n 0 | \n 231 | \n
\n \n | Reversal of capitalized Interests | \n 0 | \n 160 | \n
\n \n | Other \ufb01nancial charges | \n 108 | \n 1 | \n
\n \n | Total \ufb01nance expenses | \n 2,456 | \n 3,876 | \n
\n \n
\n
Reversal of capitalized interests is due to trans- \u00a0 fer assets from construction to inventory which \u00a0no longer satisfy of the requirement of capital- \u00a0ized interest cost. \u00a0\n
\n ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFinanceIncomeExpenseExplanatory",
"language": "en",
"entity": "scheme:391200TZVOLI3RYBWS74",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"esef-43392_2023": {
"value": "\n \n \n \n 29. FINANCIAL\u00a0INCOME \u00a0\n
\n \n \n \n \n \n \n Details of \ufb01nancial income are as follows: \u00a0\n
\n \n
\n \n \n \n \n \n \n \n | (in EUR 1,000) | \n 2023 | \n 2022 | \n
\n \n | Interest bank accounts | \n 345 | \n 0 | \n
\n \n | FX gains | \n 80 | \n 0 | \n
\n \n | Other \ufb01nancial income | \n 254 | \n 513 | \n
\n \n | Total financial income | \n 679 | \n 513 | \n
\n \n
\n
29. FINANCIAL\u00a0INCOME \u00a0\n
\n \n \n \n Details of \ufb01nancial income are as follows: \u00a0\n
\n \n
\n \n \n \n \n \n \n \n | (in EUR 1,000) | \n 2023 | \n 2022 | \n
\n \n | Interest bank accounts | \n 345 | \n 0 | \n
\n \n | FX gains | \n 80 | \n 0 | \n
\n \n | Other \ufb01nancial income | \n 254 | \n 513 | \n
\n \n | Total financial income | \n 679 | \n 513 | \n
\n \n
\n
30. FINANCIAL\u00a0EXPENSES \u00a0\n
\n Details of \ufb01nancial expenses are as follows: \u00a0\n
\n \n
\n \n \n \n \n \n \n \n | (in EUR 1,000) | \n 2023 | \n 2022 | \n
\n \n | FX losses | \n 109 | \n 0 | \n
\n \n | Interest on amounts owed to credit institutions | \n 79 | \n 231 | \n
\n \n | Interest on other Financial liabilities | \n 2,160 | \n 3,253 | \n
\n \n | Interest on bonds issued | \n 0 | \n 231 | \n
\n \n | Reversal of capitalized Interests | \n 0 | \n 160 | \n
\n \n | Other \ufb01nancial charges | \n 108 | \n 1 | \n
\n \n | Total \ufb01nance expenses | \n 2,456 | \n 3,876 | \n
\n \n
\n
Reversal of capitalized interests is due to trans- \u00a0 fer assets from construction to inventory which \u00a0no longer satisfy of the requirement of capital- \u00a0ized interest cost. \u00a0\n
\n \n \n \n ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfEffectOfChangesInForeignExchangeRatesExplanatory",
"language": "en",
"entity": "scheme:391200TZVOLI3RYBWS74",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"esef-43416_2023": {
"value": "\n \n 29. FINANCIAL\u00a0INCOME \u00a0\n
\n \n \n \n \n Details of \ufb01nancial income are as follows: \u00a0\n
\n \n
\n \n \n \n \n \n \n \n | (in EUR 1,000) | \n 2023 | \n 2022 | \n
\n \n | Interest bank accounts | \n 345 | \n 0 | \n
\n \n | FX gains | \n 80 | \n 0 | \n
\n \n | Other \ufb01nancial income | \n 254 | \n 513 | \n
\n \n | Total financial income | \n 679 | \n 513 | \n
\n \n
\n
30. FINANCIAL\u00a0EXPENSES \u00a0\n
\n Details of \ufb01nancial expenses are as follows: \u00a0\n
\n \n
\n \n \n \n \n \n \n \n | (in EUR 1,000) | \n 2023 | \n 2022 | \n
\n \n | FX losses | \n 109 | \n 0 | \n
\n \n | Interest on amounts owed to credit institutions | \n 79 | \n 231 | \n
\n \n | Interest on other Financial liabilities | \n 2,160 | \n 3,253 | \n
\n \n | Interest on bonds issued | \n 0 | \n 231 | \n
\n \n | Reversal of capitalized Interests | \n 0 | \n 160 | \n
\n \n | Other \ufb01nancial charges | \n 108 | \n 1 | \n
\n \n | Total \ufb01nance expenses | \n 2,456 | \n 3,876 | \n
\n \n
\n
Reversal of capitalized interests is due to trans- \u00a0 fer assets from construction to inventory which \u00a0no longer satisfy of the requirement of capital- \u00a0ized interest cost. \u00a0\n
\n \n \n \n \n ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFinanceCostExplanatory",
"language": "en",
"entity": "scheme:391200TZVOLI3RYBWS74",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"esef-43456_2023": {
"value": "\n \n 32. RELATED\u00a0PARTIES \u00a0\n
\n \n Ultimate controlling parties and related-parties \u00a0 transactions \u00a0\n
\n \n As of 31 December 2023 H2APEX has not been \u00a0 informed by any shareholder, that a shareholder \u00a0has interests of more than 50%. \u00a0\n
\n \n H2APEX Group S.C.A. is managed by H2APEX \u00a0 Management S.\u00e0 r.l. (hereafter the \u201cGeneral Part-ner\u201d), a limited liability company under the law \u00a0of Luxembourg (Soci\u00e9t\u00e9 \u00e0 responsabilit\u00e9 limit\u00e9e \u00a0(S.\u00e0 r.l.)), the shares in which are held indirectly \u00a0by the founders of the Active Ownership Group \u00a0(AOC) Florian Schuhbauer and Klaus R\u00f6hrig \u00a0(50% each). \u00a0\n
\n \n RELATED ENTITIES \u00a0\n
\n \n The following entities are to be considered \u00a0 related parties: \u00a0\n
\n \n H2APEX Management S.\u00e0 r.l. (General Partner) \u00a0\n
\n Active Ownership Fund SICAV-SIF SCS \u00a0\n
\n Active Ownership Capital S.\u00e0 r.l. \u00a0\n
\n Active Ownership Corporation S.\u00e0 r.l. \u00a0\n
\n Active Ownership Investments Ltd. \u00a0\n
\n Active Ownership Advisors GmbH \u00a0\n
\n \n Active Ownership L.P. \u00a0\n
\n \n Active Ownership Management Ltd. \u00a0\n
\n APEX AFO GmbH & Co.KG \u00a0\n
\n \n APEX AFO Series C GmbH & Co. KG \u00a0\n
\n Endurance GmbH & CO. KG \u00a0\n
\n \n Atlan Capital GmbH \u00a0\n
\n \n Atlan Management GmbH \u00a0\n
\n \n Atlan GP GmbH \u00a0\n
\n \n Endurance Fund Ltd \u00a0\n
\n \n \n RELATED PERSONS \u00a0\n
\n \n Supervisory Board H2APEX Group SCA (as from \u00a0 23 January 2020) \u00a0\n
\n \n Due to the change of the legal form of the Com- \u00a0 pany to a partnership limited by shares under \u00a0the laws of Luxembourg (Soci\u00e9t\u00e9 en Commandite \u00a0par Actions (SCA)), the extra ordinary general \u00a0meeting on 23 January 2020 appointed the fol- \u00a0lowing members of the Supervisory Board of\u00a0the \u00a0Company: \u00a0\n
\n \n \u2022\n
\n \n Roland Lienau (Chairman) \u00a0\n
\n \n \u2022\n
\n \n Georges Bock \u00a0\n
\n \n \u2022\n
\n \n Florian Schuhbauer (as of 02 May 2023) \u00a0\n
\n \n \u2022\n
\n \n Thomas Terschluse (as of 02 May 2023) \u00a0\n
\n \n \u2022\n
\n \n Prof. Dr. Matthias Beller (as of 02 May 2023) \u00a0\n
\n \n \n \n MEMBERS OF THE MANAGEMENT BOARD \u00a0\n
\n \n On 23 January 2020 the extraordinary general \u00a0 meeting of H2APEX Group S.A. adopted the \u00a0change of the legal form of the Company to a \u00a0partnership limited by shares under the laws \u00a0of Luxembourg Soci\u00e9t\u00e9 en Commandite par \u00a0Actions (S.C.A.)) and the creation and issuance \u00a0of one unlimited share to the general partner \u00a0H2APEX Management S.\u00e0 r.l. The Managers of \u00a0H2APEX Management S.\u00e0 r.l. are Klaus R\u00f6hrig, \u00a0Jan Kopp and Bastian Bubel. \u00a0\n
\n \n The remuneration of members of the Supervi- \u00a0 sory Board and the Board of Managers of the \u00a0General Partner is disclosed in note 32. \u00a0\n
\n \n \n \n Details of account balances with related parties \u00a0 by category are as follows: \u00a0\n
\n \n
\n \n \n \n \n \n \n \n | (in EUR 1,000) | \n 31/12/2023 | \n 31/12/2022 | \n
\n \n | Assets | \n | \n | \n
\n \n | Loans and accrued interests on shareholder loans | \n 0 | \n 11,064 | \n
\n \n | Other receivables | \n 506 | \n 827 | \n
\n \n | Total | \n 506 | \n 11,891 | \n
\n \n
\n
\n
\n \n \n \n \n \n \n \n | (in EUR 1,000) | \n 31/12/2023 | \n 31/12/2022 | \n
\n \n | Liabilities | \n | \n | \n
\n \n | Loans and accrued interests on shareholder loans | \n 33,109 | \n 31,313 | \n
\n \n | Other payables | \n 0 | \n 320 | \n
\n \n | Total | \n 33,109 | \n 31,633 | \n
\n \n
\n
\n The following are income and expense items \u00a0 with related parties: \u00a0\n
\n \n
\n \n \n \n \n \n \n \n | (in EUR 1,000) | \n 2023 | \n 2022 | \n
\n \n | Income | \n | \n | \n
\n \n | Interest on shareholder loans | \n 0 | \n 346 | \n
\n \n | Rent income | \n 0 | \n 18 | \n
\n \n | Other income | \n 0 | \n 39 | \n
\n \n | Total | \n 0 | \n 403 | \n
\n \n
\n
\n
\n \n \n \n \n \n \n \n | (in EUR 1,000) | \n 2023 | \n 2022 | \n
\n \n | Expense | \n | \n | \n
\n \n | Interest on loans from shareholders | \n 1,128 | \n 1,227 | \n
\n \n | Other expenses associates | \n 0 | \n 50 | \n
\n \n | Total | \n 1,128 | \n 1,277 | \n
\n \n
\n
\n MANAGEMENT AT THE LEVEL \u00a0\n
\n \n OF THE COMPANY \u00a0\n
\n \n The Company did not grant any emolument, \u00a0 loans or advances to members of its manage- \u00a0ment during the year ended. \u00a0\n
\n \n Transactions other than ordinary business or \u00a0 under terms differing from market conditions \u00a0carried out by the management of the company. \u00a0\n
\n \n During the year, the managers of the Company \u00a0 have not carried out any transactions other than \u00a0ordinary business or applying terms that differ \u00a0from market conditions with the Company or \u00a0with other companies in the Group. \u00a0\n
\n \n CONFLICTS OF INTEREST CONCERNING \u00a0 THE MANAGEMENT \u00a0\n
\n \n The managers of the Company and their \u00a0 related parties have had no con\ufb02icts of interest \u00a0requiring disclosure. \u00a0\n
\n \n \n \n CONTINGENT LIABILITIES TOWARDS \u00a0\n
\n \n RELATED PARTIES \u00a0\n
\n \n \n \n No contingent liabilities towards related parties \u00a0 (2022: EUR 0). \u00a0\n
\n \n \n \n \n \n \n 33. KEY\u00a0MANAGEMENT \u00a0\n
\n \n PERSONNEL EXPENSES \u00a0\n
\n \n The Company is managed by H2APEX Manage- \u00a0 ment S.\u00e0 r.l. (hereafter the \u201cGeneral Partner\u201d), a \u00a0limited company under the law of Luxembourg \u00a0(Soci\u00e9t\u00e9 \u00e0 responsabilit\u00e9 limit\u00e9e (S.\u00e0 r.l.)). For the\ufb01nancial year 2023, an amount of EUR 303,126 \u00a0(2022: EUR 0) has been recognized in the \u00a0consolidated statement of comprehensive \u00a0income for remuneration of the Supervisory \u00a0Board. The amount of KEUR 180 (2022: EUR 0) \u00a0has been recognized in the consolidated state- \u00a0ment of comprehensive income as a manage- \u00a0ment fee for the General Partner. \u00a0\n
\n \n \n Share-Based Payments \u00a0\n
\n \n On the Annual General Meeting on 2 May 2023 \u00a0 the shareholders approved a Stock Option \u00a0Program amounting to 3,640,000 shares of\u00a0the \u00a0Company, with each Stock Option correspond- \u00a0ing to one share. \u00a0\n
\n \n As of 31 December 2023, 2,200,000 of Stock \u00a0 Options have been already granted as follows: \u00a0\n
\n \n \u2022\n
\n \n 1,000,000 Stock Options have been granted \u00a0 to the Chairman of the Supervisory Board \u00a0(see Note 15). \u00a0\n
\n \n \u2022\n
\n \n 1,200,000 Stock Options have been granted \u00a0 to key employees. The Exercise Price for \u00a0each of these Options shall be EUR 5.50. \u00a0These Options shall be considered vested \u00a0over a four-year period (1/16 for each full \u00a0quarter). \u00a0\n
\n \n As consideration for Roland Lienau\u2019s (Chairman \u00a0 of the Supervisory Board) contribution to the \u00a0business combination between the Company \u00a0and the German APEX Group (in particular, the \u00a0deal sourcing, relationship management, sup- \u00a0port of the key negotiations and your laborious \u00a0assistance throughout the entire M&A process), \u00a0660,000 Stock Options have been granted to \u00a0Lien HoldCo (related party to Roland Lienau). \u00a0The Exercise Price for each of these Options \u00a0shall be EUR 5.50. These Stock Options are fully \u00a0vested as of the acceptance and must be exer- \u00a0cised until 31 December 2027 (\u201cExpiry Date\u201d). \u00a0\n
\n \n In addition, as consideration for Roland Lienau\u2019s \u00a0 continuing to hold the of\ufb01ce of chairman of \u00a0the Supervisory Board, 340,000 Stock Options \u00a0have been granted to Lien HoldCo, too. The \u00a0Exercise Price for each of these Options shall \u00a0be EUR 5.50. These Options shall be considered \u00a0fully vested on 31 December 2025 (accelerated \u00a0vesting) and cannot be exercised before 15 July \u00a02024. \u00a0\n
\n \n \n \n \n \n \n The expenses recognized for stock option \u00a0 services during the year is shown in the \u00a0following table: \u00a0\n
\n \n
\n \n \n \n \n \n \n \n | (in EUR 1,000) | \n 2023 | \n 2022 | \n
\n \n | Expenses arising from equity-settled transactions | \n 1,946 | \n 0 | \n
\n \n
\n
\n There were no cancellations of modi\ufb01cations to the awards in 2023. \u00a0\n
\n \n The following table illustrates the number and \u00a0 exercise prices of stock options granted, the \u00a0movements in share options during the year: \u00a0\n
\n \n
\n \n \n \n \n \n \n \n \n \n | \n 2023 | \n 2023 | \n 2022 | \n 2022 | \n
\n \n | (in EUR) | \n Number | \n excercise price | \n Number | \n excercise price | \n
\n \n | Outstanding at 1 January | \n 0 | \n 5.50 | \n 0 | \n 0 | \n
\n \n | Granted during the year | \n 2,400,000 | \n 5.50 | \n 0 | \n 0 | \n
\n \n | Forfeited during the year | \n 0 | \n 5.50 | \n 0 | \n 0 | \n
\n \n | Exercised during the year | \n 0 | \n 5.50 | \n 0 | \n 0 | \n
\n \n | Expired during the year | \n 0 | \n 5.50 | \n 0 | \n 0 | \n
\n \n | Outstanding at 31 December | \n 2,400,000 | \n 5.50 | \n 0 | \n 0 | \n
\n \n | Exercisable at 31 December | \n 660,000 | \n 5.50 | \n 0 | \n 0 | \n
\n \n
\n
\n The weighted average remaining contractual \u00a0 life for the stock options outstanding at \u00a031 December 2023 was 2.6 years. \u00a0\n
\n \n The exercise prices for all outstanding stock \u00a0 options at the end of the year was EUR 5.50. \u00a0\n
\n \n \n \n \n \n The following table lists the inputs to the model \u00a0 used: \u00a0\n
\n \n
\n \n \n \n \n \n \n | \n Model inputs | \n
\n \n | Weighted average fair values at the measurement date | \n 1.81 | \n
\n \n | Dividend yield (%) | \n 0% | \n
\n \n | Expected volatility (%) | \n 40% | \n
\n \n | Risk-free interest rate (%) | \n 3.29% | \n
\n \n | Expected life of options (years) | \n 4 | \n
\n \n | Share Price Grant Date | \n 6.65 | \n
\n \n | Model used | \n Binomial | \n
\n \n | weighted average remaining contractual life | \n 2.66 | \n
\n \n
\n
The expected life of stock options is based on \u00a0 current expectations and is not necessarily \u00a0indicative of exercise patterns that may occur. \u00a0The expected volatility re\ufb02ects the assumption \u00a0that the historical volatility over a period similar \u00a0to the life of the options is indicative of future \u00a0trends, which may not necessarily be the actual \u00a0outcome. \u00a0\n
\n \n \n ",
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"language": "en",
"entity": "scheme:391200TZVOLI3RYBWS74",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
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},
"esef-43410_2023": {
"value": "\n \n RELATED PERSONS \u00a0\n
\n \n Supervisory Board H2APEX Group SCA (as from \u00a0 23 January 2020) \u00a0\n
\n \n Due to the change of the legal form of the Com- \u00a0 pany to a partnership limited by shares under \u00a0the laws of Luxembourg (Soci\u00e9t\u00e9 en Commandite \u00a0par Actions (SCA)), the extra ordinary general \u00a0meeting on 23 January 2020 appointed the fol- \u00a0lowing members of the Supervisory Board of\u00a0the \u00a0Company: \u00a0\n
\n \n \u2022\n
\n \n Roland Lienau (Chairman) \u00a0\n
\n \n \u2022\n
\n \n Georges Bock \u00a0\n
\n \n \u2022\n
\n \n Florian Schuhbauer (as of 02 May 2023) \u00a0\n
\n \n \u2022\n
\n \n Thomas Terschluse (as of 02 May 2023) \u00a0\n
\n \n \u2022\n
\n \n Prof. Dr. Matthias Beller (as of 02 May 2023) \u00a0\n
\n \n \n MEMBERS OF THE MANAGEMENT BOARD \u00a0\n
\n \n On 23 January 2020 the extraordinary general \u00a0 meeting of H2APEX Group S.A. adopted the \u00a0change of the legal form of the Company to a \u00a0partnership limited by shares under the laws \u00a0of Luxembourg Soci\u00e9t\u00e9 en Commandite par \u00a0Actions (S.C.A.)) and the creation and issuance \u00a0of one unlimited share to the general partner \u00a0H2APEX Management S.\u00e0 r.l. The Managers of \u00a0H2APEX Management S.\u00e0 r.l. are Klaus R\u00f6hrig, \u00a0Jan Kopp and Bastian Bubel. \u00a0\n
\n \n The remuneration of members of the Supervi- \u00a0 sory Board and the Board of Managers of the \u00a0General Partner is disclosed in note 32. \u00a0\n
\n \n \n MANAGEMENT AT THE LEVEL \u00a0\n
\n \n OF THE COMPANY \u00a0\n
\n \n The Company did not grant any emolument, \u00a0 loans or advances to members of its manage- \u00a0ment during the year ended. \u00a0\n
\n \n Transactions other than ordinary business or \u00a0 under terms differing from market conditions \u00a0carried out by the management of the company. \u00a0\n
\n \n During the year, the managers of the Company \u00a0 have not carried out any transactions other than \u00a0ordinary business or applying terms that differ \u00a0from market conditions with the Company or \u00a0with other companies in the Group. \u00a0\n
\n \n CONFLICTS OF INTEREST CONCERNING \u00a0 THE MANAGEMENT \u00a0\n
\n \n The managers of the Company and their \u00a0 related parties have had no con\ufb02icts of interest \u00a0requiring disclosure. \u00a0\n
\n \n \n 33. KEY\u00a0MANAGEMENT \u00a0\n
\n \n PERSONNEL EXPENSES \u00a0\n
\n \n The Company is managed by H2APEX Manage- \u00a0 ment S.\u00e0 r.l. (hereafter the \u201cGeneral Partner\u201d), a \u00a0limited company under the law of Luxembourg \u00a0(Soci\u00e9t\u00e9 \u00e0 responsabilit\u00e9 limit\u00e9e (S.\u00e0 r.l.)). For the\ufb01nancial year 2023, an amount of EUR 303,126 \u00a0(2022: EUR 0) has been recognized in the \u00a0consolidated statement of comprehensive \u00a0income for remuneration of the Supervisory \u00a0Board. The amount of KEUR 180 (2022: EUR 0) \u00a0has been recognized in the consolidated state- \u00a0ment of comprehensive income as a manage- \u00a0ment fee for the General Partner. \u00a0\n
\n \n \n Share-Based Payments \u00a0\n
\n \n On the Annual General Meeting on 2 May 2023 \u00a0 the shareholders approved a Stock Option \u00a0Program amounting to 3,640,000 shares of\u00a0the \u00a0Company, with each Stock Option correspond- \u00a0ing to one share. \u00a0\n
\n \n As of 31 December 2023, 2,200,000 of Stock \u00a0 Options have been already granted as follows: \u00a0\n
\n \n \u2022\n
\n \n 1,000,000 Stock Options have been granted \u00a0 to the Chairman of the Supervisory Board \u00a0(see Note 15). \u00a0\n
\n \n \u2022\n
\n \n 1,200,000 Stock Options have been granted \u00a0 to key employees. The Exercise Price for \u00a0each of these Options shall be EUR 5.50. \u00a0These Options shall be considered vested \u00a0over a four-year period (1/16 for each full \u00a0quarter). \u00a0\n
\n \n As consideration for Roland Lienau\u2019s (Chairman \u00a0 of the Supervisory Board) contribution to the \u00a0business combination between the Company \u00a0and the German APEX Group (in particular, the \u00a0deal sourcing, relationship management, sup- \u00a0port of the key negotiations and your laborious \u00a0assistance throughout the entire M&A process), \u00a0660,000 Stock Options have been granted to \u00a0Lien HoldCo (related party to Roland Lienau). \u00a0The Exercise Price for each of these Options \u00a0shall be EUR 5.50. These Stock Options are fully \u00a0vested as of the acceptance and must be exer- \u00a0cised until 31 December 2027 (\u201cExpiry Date\u201d). \u00a0\n
\n \n In addition, as consideration for Roland Lienau\u2019s \u00a0 continuing to hold the of\ufb01ce of chairman of \u00a0the Supervisory Board, 340,000 Stock Options \u00a0have been granted to Lien HoldCo, too. The \u00a0Exercise Price for each of these Options shall \u00a0be EUR 5.50. These Options shall be considered \u00a0fully vested on 31 December 2025 (accelerated \u00a0vesting) and cannot be exercised before 15 July \u00a02024. \u00a0\n
\n \n \n \n \n The expenses recognized for stock option \u00a0 services during the year is shown in the \u00a0following table: \u00a0\n
\n \n
\n \n \n \n \n \n \n \n | (in EUR 1,000) | \n 2023 | \n 2022 | \n
\n \n | Expenses arising from equity-settled transactions | \n 1,946 | \n 0 | \n
\n \n
\n
\n There were no cancellations of modi\ufb01cations to the awards in 2023. \u00a0\n
\n \n The following table illustrates the number and \u00a0 exercise prices of stock options granted, the \u00a0movements in share options during the year: \u00a0\n
\n \n
\n \n \n \n \n \n \n \n \n \n | \n 2023 | \n 2023 | \n 2022 | \n 2022 | \n
\n \n | (in EUR) | \n Number | \n excercise price | \n Number | \n excercise price | \n
\n \n | Outstanding at 1 January | \n 0 | \n 5.50 | \n 0 | \n 0 | \n
\n \n | Granted during the year | \n 2,400,000 | \n 5.50 | \n 0 | \n 0 | \n
\n \n | Forfeited during the year | \n 0 | \n 5.50 | \n 0 | \n 0 | \n
\n \n | Exercised during the year | \n 0 | \n 5.50 | \n 0 | \n 0 | \n
\n \n | Expired during the year | \n 0 | \n 5.50 | \n 0 | \n 0 | \n
\n \n | Outstanding at 31 December | \n 2,400,000 | \n 5.50 | \n 0 | \n 0 | \n
\n \n | Exercisable at 31 December | \n 660,000 | \n 5.50 | \n 0 | \n 0 | \n
\n \n
\n
\n The weighted average remaining contractual \u00a0 life for the stock options outstanding at \u00a031 December 2023 was 2.6 years. \u00a0\n
\n \n The exercise prices for all outstanding stock \u00a0 options at the end of the year was EUR 5.50. \u00a0\n
\n \n \n The following table lists the inputs to the model \u00a0 used: \u00a0\n
\n \n
\n \n \n \n \n \n \n | \n Model inputs | \n
\n \n | Weighted average fair values at the measurement date | \n 1.81 | \n
\n \n | Dividend yield (%) | \n 0% | \n
\n \n | Expected volatility (%) | \n 40% | \n
\n \n | Risk-free interest rate (%) | \n 3.29% | \n
\n \n | Expected life of options (years) | \n 4 | \n
\n \n | Share Price Grant Date | \n 6.65 | \n
\n \n | Model used | \n Binomial | \n
\n \n | weighted average remaining contractual life | \n 2.66 | \n
\n \n
\n
The expected life of stock options is based on \u00a0 current expectations and is not necessarily \u00a0indicative of exercise patterns that may occur. \u00a0The expected volatility re\ufb02ects the assumption \u00a0that the historical volatility over a period similar \u00a0to the life of the options is indicative of future \u00a0trends, which may not necessarily be the actual \u00a0outcome. \u00a0\n
\n ",
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"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
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},
"esef-43366_2023": {
"value": "\n \n CONTINGENT LIABILITIES TOWARDS \u00a0\n
\n \n RELATED PARTIES \u00a0\n
\n \n \n \n No contingent liabilities towards related parties \u00a0 (2022: EUR 0). \u00a0\n
\n \n \n ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfContingentLiabilitiesExplanatory",
"language": "en",
"entity": "scheme:391200TZVOLI3RYBWS74",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"esef-43383_2023": {
"value": "\n \n 34. EVENTS\u00a0AFTER \u00a0\n
\n \n THE REPORTING PERIOD \u00a0\n
\n \n On 18 January 2024 the shareholders decided at \u00a0 the EGM (Extraordinary General Meeting), that \u00a0the former exceet Group S.C.A. will be renamed \u00a0into H2APEX Group S.C.A.. With the renaming a \u00a0common branding with APEX Group is \ufb01nalized. \u00a0\n
\n \n There are no other subsequent events after \u00a0 31 December 2023 to be reported. \u00a0\n
\n ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfEventsAfterReportingPeriodExplanatory",
"language": "en",
"entity": "scheme:391200TZVOLI3RYBWS74",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
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}
}