{ "documentInfo": { "documentType": "https://xbrl.org/2021/xbrl-json", "features": { "xbrl:canonicalValues": true }, "namespaces": { "ISO4217": "http://www.xbrl.org/2003/iso4217", "ifrs-full": "https://xbrl.ifrs.org/taxonomy/2024-03-27/ifrs-full", "scheme": "http://standards.iso.org/iso/17442", "vbl": "https://vbl.com.mt/xbrl/2025/", "xbrl": "https://xbrl.org/2021", "xbrli": "http://www.xbrl.org/2003/instance" }, "taxonomy": [ "https://vbl.com.mt/xbrl/2025/vbl-2025-12-31.xsd" ] }, "facts": { "mapping_8186": { "value": "VBL Plc", "dimensions": { "concept": "ifrs-full:NameOfReportingEntityOrOtherMeansOfIdentification", "language": "en", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "mapping_7942": { "value": "Malta", "dimensions": { "concept": "ifrs-full:PrincipalPlaceOfBusiness", "language": "en", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "mapping_7943": { "value": "Malta", "dimensions": { "concept": "ifrs-full:DomicileOfEntity", "language": "en", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "mapping_7944": { "value": "Malta", "dimensions": { "concept": "ifrs-full:CountryOfIncorporation", "language": "en", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "mapping_7945": { "value": "public limited liability company", "dimensions": { "concept": "ifrs-full:LegalFormOfEntity", "language": "en", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "mapping_7946": { "value": "Since last publication, there were no changes to the name of the reporting entity. ", "dimensions": { "concept": "ifrs-full:ExplanationOfChangeInNameOfReportingEntityOrOtherMeansOfIdentificationFromEndOfPrecedingReportingPeriod", "language": "en", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "mapping_7973": { "value": "54, Marsamxett Road Valletta VLT 1853 Malta ", "dimensions": { "concept": "ifrs-full:AddressOfRegisteredOfficeOfEntity", "language": "en", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "mapping_8133": { "value": "VBL Plc", "dimensions": { "concept": "ifrs-full:NameOfParentEntity", "language": "en", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "mapping_7947": { "value": "Principal activities The Company and its fully owned subsidiaries forming the VBL Group, are involved in property ownership and the full process of real estate acquisitions, integrated real estate development, property management, operations, utilisation (rental) and disposal of properties. The Group\u2019s main market of operation is Valletta, which is a UNESCO world heritage site, and is a protected, unique and fortified city, the political and administrative centre of Malta. During the course of over ten years of operations, the Group has established itself as one of the largest and most active investors in immovable property in Valletta (based on the number of owned, acquired and developed units, and the number of operated/managed properties in Valletta). VBL Group has a successful track record of identifying, acquiring, developing and managing real estate all around Valletta. The Group\u2019s principal areas of activities are as follows: A. Property ownership, regeneration and maintenance. B. Identification and acquisition of real estate assets in the city of Valletta, and the consolidation of acquired properties to achieve sizeable development projects, spanning the planning and permitting stage to the preparation and development of the projects. C. Execution, on a project-by-project basis, of the restructuring, conceptualisation, re-development, re-generation and renovation of acquired real estate assets, including regeneration and improvement of related areas, neighbourhoods or districts of the capital city, improving overall quality of life for the local community and residents, creating modern, liveable community areas and supporting development of social and cultural activities. D. Operation and management of commercial and residential real estate assets with a view to generating a growing recurring rental income; or sale, and occasionally management for the new owners, of the re-developed assets, where the commercial opportunity to dispose of the asset secures higher margins than its on-going operation. This operational area also includes the management of other third-party real estate assets for accommodation, commercial and office space and the provision of professional operation and management of established hotels and hostels, by leveraging on VBL\u2019s existent operational structures and highly skilled management team, while providing high value-added services and overall solution to owners of such assets. The Group has developed fully integrated professional skills and management structure with large range of in-house capabilities in each of the principal activities undertaken by the Group, ranging from the asset acquisition, asset regeneration/renovation/development, management and operation activities. The Group has established and operates a vertically integrated business process, based on a very well defined and focused target market, where it has proven skills to deliver on all aspects the whole cycle, whereby ensuring the high quality of products and/or services based on established in-house systems and structures, supported by a selection of trusted long-term business partners and sub-contractors to ensure efficiency and to reduce dependency on more vulnerable, short-term commercial relations, thus also ensuring that maximum benefit is derived from all activities. ", "dimensions": { "concept": "ifrs-full:DescriptionOfNatureOfEntitysOperationsAndPrincipalActivities", "language": "en", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "mapping_7949": { "value": "VBL Group", "dimensions": { "concept": "ifrs-full:NameOfUltimateParentOfGroup", "language": "en", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "mapping_7709": { "value": "4693410.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:Revenue", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "ISO4217:EUR" } }, "mapping_7713": { "value": "4065367.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:Revenue", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "ISO4217:EUR" } }, "mapping_7710": { "value": "1423803.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:InvestmentIncome", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "ISO4217:EUR" } }, "mapping_7714": { "value": "2558543.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:InvestmentIncome", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "ISO4217:EUR" } }, "mapping_7711": { "value": "1725784.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:CostOfSales", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "ISO4217:EUR" } }, "mapping_7715": { "value": "1702351.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:CostOfSales", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "ISO4217:EUR" } }, "mapping_7712": { "value": "4391429.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:GrossProfit", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "ISO4217:EUR" } }, "mapping_7716": { "value": "4921559.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:GrossProfit", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "ISO4217:EUR" } }, "mapping_7717": { "value": "20800.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:OtherOperatingIncomeExpense", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "ISO4217:EUR" } }, "mapping_7718": { "value": "21673.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:OtherOperatingIncomeExpense", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "ISO4217:EUR" } }, "mapping_7719": { "value": "1257668.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:AdministrativeExpense", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "ISO4217:EUR" } }, "mapping_7720": { "value": "1221486.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:AdministrativeExpense", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "ISO4217:EUR" } }, "mapping_7722": { "value": "3154561.0", "decimals": 0, "dimensions": { "concept": "vbl:ProfitLossFromOperatingActivitiesBeforeInterestTaxesDepreciationAndAmortisationExpense", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "ISO4217:EUR" } }, "mapping_7721": { "value": "3721746.0", "decimals": 0, "dimensions": { "concept": "vbl:ProfitLossFromOperatingActivitiesBeforeInterestTaxesDepreciationAndAmortisationExpense", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "ISO4217:EUR" } }, "mapping_7723": { "value": "643140.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:DepreciationAndAmortisationExpense", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "ISO4217:EUR" } }, "mapping_7725": { "value": "466397.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:DepreciationAndAmortisationExpense", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "ISO4217:EUR" } }, "mapping_7724": { "value": "2511421.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:ProfitLossFromOperatingActivities", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "ISO4217:EUR" } }, "mapping_7726": { "value": "3255349.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:ProfitLossFromOperatingActivities", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "ISO4217:EUR" } }, "mapping_7727": { "value": "116647.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:RevenueFromInterest", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "ISO4217:EUR" } }, "mapping_7729": { "value": "17677.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:RevenueFromInterest", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "ISO4217:EUR" } }, "mapping_8170": { "value": "49348.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:GainsLossesOnDisposalsOfInvestments", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "ISO4217:EUR" } }, "mapping_8171": { "value": "0.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:GainsLossesOnDisposalsOfInvestments", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "ISO4217:EUR" } }, "mapping_7728": { "value": "815367.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:FinanceCosts", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "ISO4217:EUR" } }, "mapping_7730": { "value": "327210.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:FinanceCosts", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "ISO4217:EUR" } }, "mapping_7731": { "value": "1862049.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:ProfitLossBeforeTax", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "ISO4217:EUR" } }, "mapping_7732": { "value": "2945816.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:ProfitLossBeforeTax", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "ISO4217:EUR" } }, "mapping_7733": { "value": "288144.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:IncomeTaxExpenseContinuingOperations", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "ISO4217:EUR" } }, "mapping_7734": { "value": "463798.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:IncomeTaxExpenseContinuingOperations", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "ISO4217:EUR" } }, "mapping_7735": { "value": "1573905.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "ISO4217:EUR" } }, "mapping_7736": { "value": "2482018.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "ISO4217:EUR" } }, "mapping_7739": { "value": "48797.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:GainsLossesOnFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncomeNetOfTax", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "ISO4217:EUR" } }, "mapping_7740": { "value": "-8818.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:GainsLossesOnFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncomeNetOfTax", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "ISO4217:EUR" } }, "mapping_7737": { "value": "1622702.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "ISO4217:EUR" } }, "mapping_7738": { "value": "2473200.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "ISO4217:EUR" } }, "mapping_7707": { "value": "0.0063", "decimals": 4, "dimensions": { "concept": "ifrs-full:BasicEarningsLossPerShare", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "ISO4217:EUR/xbrli:shares" } }, "mapping_7708": { "value": "0.01", "decimals": 4, "dimensions": { "concept": "ifrs-full:BasicEarningsLossPerShare", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "ISO4217:EUR/xbrli:shares" } }, "mapping_7741": { "value": "10000.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:IntangibleAssetsOtherThanGoodwill", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2026-01-01T00:00:00", "unit": "ISO4217:EUR" } }, "mapping_7742": { "value": "53201.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:IntangibleAssetsOtherThanGoodwill", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2025-01-01T00:00:00", "unit": "ISO4217:EUR" } }, "mapping_7743": { "value": "684062.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:PropertyPlantAndEquipment", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2026-01-01T00:00:00", "unit": "ISO4217:EUR" } }, "mapping_7744": { "value": "735562.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:PropertyPlantAndEquipment", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2025-01-01T00:00:00", "unit": "ISO4217:EUR" } }, "mapping_7745": { "value": "87303927.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:InvestmentProperty", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2026-01-01T00:00:00", "unit": "ISO4217:EUR" } }, "mapping_7746": { "value": "83351369.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:InvestmentProperty", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2025-01-01T00:00:00", "unit": "ISO4217:EUR" } }, "mapping_7747": { "value": "1200.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:InvestmentsInSubsidiariesJointVenturesAndAssociates", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2026-01-01T00:00:00", "unit": "ISO4217:EUR" } }, "mapping_7748": { "value": "1200.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:InvestmentsInSubsidiariesJointVenturesAndAssociates", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2025-01-01T00:00:00", "unit": "ISO4217:EUR" } }, "mapping_7803": { "value": "0.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:NoncurrentFinancialAssetsAtFairValueThroughOtherComprehensiveIncome", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2026-01-01T00:00:00", "unit": "ISO4217:EUR" } }, "mapping_7804": { "value": "3898107.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:NoncurrentFinancialAssetsAtFairValueThroughOtherComprehensiveIncome", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2025-01-01T00:00:00", "unit": "ISO4217:EUR" } }, "mapping_7749": { "value": "314231.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:DeferredTaxAssets", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2026-01-01T00:00:00", "unit": "ISO4217:EUR" } }, "mapping_7750": { "value": "373926.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:DeferredTaxAssets", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2025-01-01T00:00:00", "unit": "ISO4217:EUR" } }, "mapping_7752": { "value": "88313420.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:NoncurrentAssets", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2026-01-01T00:00:00", "unit": "ISO4217:EUR" } }, "mapping_7751": { "value": "88413365.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:NoncurrentAssets", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2025-01-01T00:00:00", "unit": "ISO4217:EUR" } }, "mapping_7805": { "value": "6044344.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:CurrentFinancialAssetsAtFairValueThroughOtherComprehensiveIncome", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2026-01-01T00:00:00", "unit": "ISO4217:EUR" } }, "mapping_7806": { "value": "5207067.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:CurrentFinancialAssetsAtFairValueThroughOtherComprehensiveIncome", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2025-01-01T00:00:00", "unit": "ISO4217:EUR" } }, "mapping_7753": { "value": "1277.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:Inventories", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2026-01-01T00:00:00", "unit": "ISO4217:EUR" } }, "mapping_7754": { "value": "2162.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:Inventories", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2025-01-01T00:00:00", "unit": "ISO4217:EUR" } }, "mapping_7755": { "value": "6452.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:CurrentValueAddedTaxReceivables", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2026-01-01T00:00:00", "unit": "ISO4217:EUR" } }, "mapping_7756": { "value": "3402.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:CurrentValueAddedTaxReceivables", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2025-01-01T00:00:00", "unit": "ISO4217:EUR" } }, "mapping_7757": { "value": "132478.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:CurrentLoansAndReceivables", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2026-01-01T00:00:00", "unit": "ISO4217:EUR" } }, "mapping_7758": { "value": "126228.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:CurrentLoansAndReceivables", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2025-01-01T00:00:00", "unit": "ISO4217:EUR" } }, "mapping_7759": { "value": "883485.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:TradeAndOtherCurrentReceivables", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2026-01-01T00:00:00", "unit": "ISO4217:EUR" } }, "mapping_7760": { "value": "540117.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:TradeAndOtherCurrentReceivables", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2025-01-01T00:00:00", "unit": "ISO4217:EUR" } }, "mapping_7762": { "value": "1078437.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:CashAndCashEquivalents", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2026-01-01T00:00:00", "unit": "ISO4217:EUR" } }, "mapping_7761": { "value": "1085931.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:CashAndCashEquivalents", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2025-01-01T00:00:00", "unit": "ISO4217:EUR" } }, "mapping_7763": { "value": "8146473.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:CurrentAssets", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2026-01-01T00:00:00", "unit": "ISO4217:EUR" } }, "mapping_7764": { "value": "6964907.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:CurrentAssets", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2025-01-01T00:00:00", "unit": "ISO4217:EUR" } }, "mapping_7765": { "value": "96459893.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:Assets", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2026-01-01T00:00:00", "unit": "ISO4217:EUR" } }, "mapping_7766": { "value": "95378272.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:Assets", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2025-01-01T00:00:00", "unit": "ISO4217:EUR" } }, "mapping_7767": { "value": "49835837.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:IssuedCapital", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2026-01-01T00:00:00", "unit": "ISO4217:EUR" } }, "mapping_7768": { "value": "49835837.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:IssuedCapital", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2025-01-01T00:00:00", "unit": "ISO4217:EUR" } }, "mapping_7769": { "value": "1085638.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:SharePremium", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2026-01-01T00:00:00", "unit": "ISO4217:EUR" } }, "mapping_7770": { "value": "1085638.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:SharePremium", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2025-01-01T00:00:00", "unit": "ISO4217:EUR" } }, "mapping_7771": { "value": "324372.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:RevaluationSurplus", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2026-01-01T00:00:00", "unit": "ISO4217:EUR" } }, "mapping_7772": { "value": "298327.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:RevaluationSurplus", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2025-01-01T00:00:00", "unit": "ISO4217:EUR" } }, "mapping_7773": { "value": "1218.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:OtherReserves", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2026-01-01T00:00:00", "unit": "ISO4217:EUR" } }, "mapping_7774": { "value": "1218.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:OtherReserves", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2025-01-01T00:00:00", "unit": "ISO4217:EUR" } }, "mapping_7775": { "value": "17896814.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:RetainedEarnings", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2026-01-01T00:00:00", "unit": "ISO4217:EUR" } }, "mapping_7776": { "value": "16496908.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:RetainedEarnings", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2025-01-01T00:00:00", "unit": "ISO4217:EUR" } }, "mapping_7777": { "value": "69143879.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2026-01-01T00:00:00", "unit": "ISO4217:EUR" } }, "mapping_7778": { "value": "67717928.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2025-01-01T00:00:00", "unit": "ISO4217:EUR" } }, "mapping_7779": { "value": "18586299.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:LongtermBorrowings", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2026-01-01T00:00:00", "unit": "ISO4217:EUR" } }, "mapping_7780": { "value": "18545962.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:LongtermBorrowings", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2025-01-01T00:00:00", "unit": "ISO4217:EUR" } }, "mapping_7781": { "value": "1134044.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:NoncurrentLeaseLiabilities", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2026-01-01T00:00:00", "unit": "ISO4217:EUR" } }, "mapping_7782": { "value": "1361732.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:NoncurrentLeaseLiabilities", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2025-01-01T00:00:00", "unit": "ISO4217:EUR" } }, "mapping_7783": { "value": "5128456.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:DeferredTaxLiabilities", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2026-01-01T00:00:00", "unit": "ISO4217:EUR" } }, "mapping_7784": { "value": "5049095.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:DeferredTaxLiabilities", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2025-01-01T00:00:00", "unit": "ISO4217:EUR" } }, "mapping_7799": { "value": "137030.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:NoncurrentPayables", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2026-01-01T00:00:00", "unit": "ISO4217:EUR" } }, "mapping_7800": { "value": "122729.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:NoncurrentPayables", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2025-01-01T00:00:00", "unit": "ISO4217:EUR" } }, "mapping_7785": { "value": "24985829.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:NoncurrentLiabilities", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2026-01-01T00:00:00", "unit": "ISO4217:EUR" } }, "mapping_7786": { "value": "25079518.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:NoncurrentLiabilities", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2025-01-01T00:00:00", "unit": "ISO4217:EUR" } }, "mapping_7801": { "value": "124023.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:CurrentTaxLiabilitiesCurrent", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2026-01-01T00:00:00", "unit": "ISO4217:EUR" } }, "mapping_7802": { "value": "25669.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:CurrentTaxLiabilitiesCurrent", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2025-01-01T00:00:00", "unit": "ISO4217:EUR" } }, "mapping_7787": { "value": "871850.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:ShorttermBorrowings", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2026-01-01T00:00:00", "unit": "ISO4217:EUR" } }, "mapping_7788": { "value": "590709.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:ShorttermBorrowings", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2025-01-01T00:00:00", "unit": "ISO4217:EUR" } }, "mapping_7789": { "value": "291413.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:CurrentLeaseLiabilities", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2026-01-01T00:00:00", "unit": "ISO4217:EUR" } }, "mapping_7790": { "value": "233653.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:CurrentLeaseLiabilities", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2025-01-01T00:00:00", "unit": "ISO4217:EUR" } }, "mapping_7792": { "value": "1042899.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:TradeAndOtherCurrentPayables", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2026-01-01T00:00:00", "unit": "ISO4217:EUR" } }, "mapping_7791": { "value": "1730795.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:TradeAndOtherCurrentPayables", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2025-01-01T00:00:00", "unit": "ISO4217:EUR" } }, "mapping_7793": { "value": "2330185.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:CurrentLiabilities", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2026-01-01T00:00:00", "unit": "ISO4217:EUR" } }, "mapping_7794": { "value": "2580826.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:CurrentLiabilities", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2025-01-01T00:00:00", "unit": "ISO4217:EUR" } }, "mapping_7795": { "value": "27316014.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:Liabilities", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2026-01-01T00:00:00", "unit": "ISO4217:EUR" } }, "mapping_7796": { "value": "27660344.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:Liabilities", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2025-01-01T00:00:00", "unit": "ISO4217:EUR" } }, "mapping_7797": { "value": "96459893.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:EquityAndLiabilities", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2026-01-01T00:00:00", "unit": "ISO4217:EUR" } }, "mapping_7798": { "value": "95378272.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:EquityAndLiabilities", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2025-01-01T00:00:00", "unit": "ISO4217:EUR" } }, "mapping_7826": { "value": "49835837.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "ISO4217:EUR" } }, "mapping_7827": { "value": "1085638.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember", "unit": "ISO4217:EUR" } }, "mapping_7828": { "value": "329895.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RevaluationSurplusMember", "unit": "ISO4217:EUR" } }, "mapping_7829": { "value": "1218.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:OtherReservesMember", "unit": "ISO4217:EUR" } }, "mapping_7830": { "value": "14179889.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2024-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "ISO4217:EUR" } }, "mapping_7825": { "value": "65432477.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2024-01-01T00:00:00", "unit": "ISO4217:EUR" } }, "mapping_7807": { "value": "0.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "ISO4217:EUR" } }, "mapping_7808": { "value": "0.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember", "unit": "ISO4217:EUR" } }, "mapping_7809": { "value": "0.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RevaluationSurplusMember", "unit": "ISO4217:EUR" } }, "mapping_7810": { "value": "0.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:OtherReservesMember", "unit": "ISO4217:EUR" } }, "mapping_7811": { "value": "2482018.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "ISO4217:EUR" } }, "mapping_7812": { "value": "2482018.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "ISO4217:EUR" } }, "mapping_7855": { "value": "0.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncomeNetOfTaxFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncome", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "ISO4217:EUR" } }, "mapping_7856": { "value": "0.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncomeNetOfTaxFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncome", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember", "unit": "ISO4217:EUR" } }, "mapping_7857": { "value": "8818.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncomeNetOfTaxFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncome", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RevaluationSurplusMember", "unit": "ISO4217:EUR" } }, "mapping_7858": { "value": "0.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncomeNetOfTaxFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncome", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:OtherReservesMember", "unit": "ISO4217:EUR" } }, "mapping_7859": { "value": "0.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncomeNetOfTaxFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncome", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "ISO4217:EUR" } }, "mapping_7860": { "value": "8818.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncomeNetOfTaxFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncome", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "ISO4217:EUR" } }, "mapping_8177": { "value": "0.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:DividendsPaid", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "ISO4217:EUR" } }, "mapping_8178": { "value": "0.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:DividendsPaid", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember", "unit": "ISO4217:EUR" } }, "mapping_8179": { "value": "0.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:DividendsPaid", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RevaluationSurplusMember", "unit": "ISO4217:EUR" } }, "mapping_8180": { "value": "0.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:DividendsPaid", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:OtherReservesMember", "unit": "ISO4217:EUR" } }, "mapping_8181": { "value": "200000.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:DividendsPaid", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "ISO4217:EUR" } }, "mapping_8182": { "value": "200000.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:DividendsPaid", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "ISO4217:EUR" } }, "mapping_7819": { "value": "0.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughTransferBetweenRevaluationReserveAndRetainedEarnings", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "ISO4217:EUR" } }, "mapping_7820": { "value": "0.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughTransferBetweenRevaluationReserveAndRetainedEarnings", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember", "unit": "ISO4217:EUR" } }, "mapping_7821": { "value": "22750.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughTransferBetweenRevaluationReserveAndRetainedEarnings", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RevaluationSurplusMember", "unit": "ISO4217:EUR" } }, "mapping_7822": { "value": "0.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughTransferBetweenRevaluationReserveAndRetainedEarnings", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:OtherReservesMember", "unit": "ISO4217:EUR" } }, "mapping_7823": { "value": "35001.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughTransferBetweenRevaluationReserveAndRetainedEarnings", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "ISO4217:EUR" } }, "mapping_7824": { "value": "12251.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughTransferBetweenRevaluationReserveAndRetainedEarnings", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "ISO4217:EUR" } }, "mapping_7849": { "value": "49835837.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "ISO4217:EUR" } }, "mapping_7850": { "value": "1085638.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember", "unit": "ISO4217:EUR" } }, "mapping_7851": { "value": "298327.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RevaluationSurplusMember", "unit": "ISO4217:EUR" } }, "mapping_7852": { "value": "1218.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:OtherReservesMember", "unit": "ISO4217:EUR" } }, "mapping_7853": { "value": "16496908.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "ISO4217:EUR" } }, "mapping_7854": { "value": "67717928.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2025-01-01T00:00:00", "unit": "ISO4217:EUR" } }, "mapping_8077": { "value": "49835837.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "ISO4217:EUR" } }, "mapping_8078": { "value": "1085638.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember", "unit": "ISO4217:EUR" } }, "mapping_8079": { "value": "298327.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RevaluationSurplusMember", "unit": "ISO4217:EUR" } }, "mapping_8080": { "value": "1218.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:OtherReservesMember", "unit": "ISO4217:EUR" } }, "mapping_8081": { "value": "16496908.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "ISO4217:EUR" } }, "mapping_8082": { "value": "67717928.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2025-01-01T00:00:00", "unit": "ISO4217:EUR" } }, "mapping_7831": { "value": "0.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "ISO4217:EUR" } }, "mapping_7832": { "value": "0.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember", "unit": "ISO4217:EUR" } }, "mapping_7833": { "value": "0.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RevaluationSurplusMember", "unit": "ISO4217:EUR" } }, "mapping_7834": { "value": "0.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:OtherReservesMember", "unit": "ISO4217:EUR" } }, "mapping_7835": { "value": "1573905.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "ISO4217:EUR" } }, "mapping_7836": { "value": "1573905.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "ISO4217:EUR" } }, "mapping_8138": { "value": "0.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncomeNetOfTaxFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncome", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "ISO4217:EUR" } }, "mapping_8088": { "value": "0.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncomeNetOfTaxFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncome", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember", "unit": "ISO4217:EUR" } }, "mapping_8136": { "value": "48797.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncomeNetOfTaxFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncome", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RevaluationSurplusMember", "unit": "ISO4217:EUR" } }, "mapping_8087": { "value": "0.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncomeNetOfTaxFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncome", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:OtherReservesMember", "unit": "ISO4217:EUR" } }, "mapping_8085": { "value": "0.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncomeNetOfTaxFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncome", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "ISO4217:EUR" } }, "mapping_8086": { "value": "48797.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncomeNetOfTaxFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncome", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "ISO4217:EUR" } }, "mapping_7837": { "value": "0.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:DividendsPaid", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "ISO4217:EUR" } }, "mapping_7838": { "value": "0.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:DividendsPaid", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember", "unit": "ISO4217:EUR" } }, "mapping_7839": { "value": "0.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:DividendsPaid", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RevaluationSurplusMember", "unit": "ISO4217:EUR" } }, "mapping_7840": { "value": "0.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:DividendsPaid", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:OtherReservesMember", "unit": "ISO4217:EUR" } }, "mapping_7841": { "value": "209000.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:DividendsPaid", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "ISO4217:EUR" } }, "mapping_7842": { "value": "209000.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:DividendsPaid", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "ISO4217:EUR" } }, "mapping_7843": { "value": "0.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughTransferBetweenRevaluationReserveAndRetainedEarnings", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "ISO4217:EUR" } }, "mapping_7844": { "value": "0.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughTransferBetweenRevaluationReserveAndRetainedEarnings", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember", "unit": "ISO4217:EUR" } }, "mapping_7845": { "value": "22752.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughTransferBetweenRevaluationReserveAndRetainedEarnings", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RevaluationSurplusMember", "unit": "ISO4217:EUR" } }, "mapping_7846": { "value": "0.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughTransferBetweenRevaluationReserveAndRetainedEarnings", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:OtherReservesMember", "unit": "ISO4217:EUR" } }, "mapping_7847": { "value": "35001.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughTransferBetweenRevaluationReserveAndRetainedEarnings", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "ISO4217:EUR" } }, "mapping_7848": { "value": "12249.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughTransferBetweenRevaluationReserveAndRetainedEarnings", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "ISO4217:EUR" } }, "mapping_8071": { "value": "49835837.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2026-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "ISO4217:EUR" } }, "mapping_8072": { "value": "1085638.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2026-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember", "unit": "ISO4217:EUR" } }, "mapping_8076": { "value": "324372.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2026-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RevaluationSurplusMember", "unit": "ISO4217:EUR" } }, "mapping_8073": { "value": "1218.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2026-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:OtherReservesMember", "unit": "ISO4217:EUR" } }, "mapping_8074": { "value": "17896814.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2026-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "ISO4217:EUR" } }, "mapping_8075": { "value": "69143879.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2026-01-01T00:00:00", "unit": "ISO4217:EUR" } }, "mapping_7895": { "value": "1862049.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:ProfitLossBeforeTax", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "ISO4217:EUR" } }, "mapping_7896": { "value": "2945816.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:ProfitLossBeforeTax", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "ISO4217:EUR" } }, "mapping_7861": { "value": "643140.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:AdjustmentsForDepreciationAndAmortisationExpense", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "ISO4217:EUR" } }, "mapping_7879": { "value": "466397.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:AdjustmentsForDepreciationAndAmortisationExpense", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "ISO4217:EUR" } }, "mapping_7862": { "value": "35457.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:AdjustmentsForAmortisationExpense", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "ISO4217:EUR" } }, "mapping_7880": { "value": "6008.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:AdjustmentsForAmortisationExpense", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "ISO4217:EUR" } }, "mapping_7863": { "value": "1423803.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:AdjustmentsForGainsLossesOnFairValueAdjustmentInvestmentProperty", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "ISO4217:EUR" } }, "mapping_7881": { "value": "2558543.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:AdjustmentsForGainsLossesOnFairValueAdjustmentInvestmentProperty", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "ISO4217:EUR" } }, "mapping_7864": { "value": "116647.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:AdjustmentsForInterestIncome", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "ISO4217:EUR" } }, "mapping_7882": { "value": "17677.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:AdjustmentsForInterestIncome", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "ISO4217:EUR" } }, "mapping_7865": { "value": "815367.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:AdjustmentsForInterestExpense", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "ISO4217:EUR" } }, "mapping_7883": { "value": "327210.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:AdjustmentsForInterestExpense", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "ISO4217:EUR" } }, "mapping_7866": { "value": "1815563.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:CashFlowsFromUsedInOperationsBeforeChangesInWorkingCapital", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "ISO4217:EUR" } }, "mapping_7885": { "value": "1169211.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:CashFlowsFromUsedInOperationsBeforeChangesInWorkingCapital", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "ISO4217:EUR" } }, "mapping_8135": { "value": "-885.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:AdjustmentsForDecreaseIncreaseInInventories", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "ISO4217:EUR" } }, "mapping_8090": { "value": "611.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:AdjustmentsForDecreaseIncreaseInInventories", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "ISO4217:EUR" } }, "mapping_8137": { "value": "-236021.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:AdjustmentsForDecreaseIncreaseInTradeAndOtherReceivables", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "ISO4217:EUR" } }, "mapping_8094": { "value": "-270339.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:AdjustmentsForDecreaseIncreaseInTradeAndOtherReceivables", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "ISO4217:EUR" } }, "mapping_8092": { "value": "-1289055.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:AdjustmentsForIncreaseDecreaseInTradeAndOtherPayables", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "ISO4217:EUR" } }, "mapping_8093": { "value": "686540.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:AdjustmentsForIncreaseDecreaseInTradeAndOtherPayables", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "ISO4217:EUR" } }, "mapping_8095": { "value": "42551.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:IncomeTaxesPaidRefundClassifiedAsOperatingActivities", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "ISO4217:EUR" } }, "mapping_8096": { "value": "650.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:IncomeTaxesPaidRefundClassifiedAsOperatingActivities", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "ISO4217:EUR" } }, "mapping_7867": { "value": "248821.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:CashFlowsFromUsedInOperatingActivities", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "ISO4217:EUR" } }, "mapping_7886": { "value": "1584151.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:CashFlowsFromUsedInOperatingActivities", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "ISO4217:EUR" } }, "mapping_7868": { "value": "21571.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "ISO4217:EUR" } }, "mapping_7887": { "value": "9002.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "ISO4217:EUR" } }, "mapping_7869": { "value": "2669493.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:PurchaseOfInvestmentProperty", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "ISO4217:EUR" } }, "mapping_7888": { "value": "2332376.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:PurchaseOfInvestmentProperty", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "ISO4217:EUR" } }, "mapping_7899": { "value": "2096027.0", "decimals": 0, "dimensions": { "concept": "vbl:PurchaseOfFinancialAssetsMeasuredThroughOtherComprehensiveIncomeClassifiedAsInvestingActivities", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "ISO4217:EUR" } }, "mapping_7900": { "value": "9113992.0", "decimals": 0, "dimensions": { "concept": "vbl:PurchaseOfFinancialAssetsMeasuredThroughOtherComprehensiveIncomeClassifiedAsInvestingActivities", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "ISO4217:EUR" } }, "mapping_8172": { "value": "5205654.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:ProceedsFromSalesOrMaturityOfFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncomeClassifiedAsInvestingActivities", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "ISO4217:EUR" } }, "mapping_8099": { "value": "418563.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:CashFlowsFromUsedInInvestingActivities", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "ISO4217:EUR" } }, "mapping_8100": { "value": "11455370.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:CashFlowsFromUsedInInvestingActivities", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "ISO4217:EUR" } }, "mapping_7870": { "value": "0.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:ProceedsFromIssueOfBondsNotesAndDebentures", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "ISO4217:EUR" } }, "mapping_7884": { "value": "9640997.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:ProceedsFromIssueOfBondsNotesAndDebentures", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "ISO4217:EUR" } }, "mapping_7871": { "value": "449657.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:InterestPaidClassifiedAsFinancingActivities", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "ISO4217:EUR" } }, "mapping_7889": { "value": "412855.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:InterestPaidClassifiedAsFinancingActivities", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "ISO4217:EUR" } }, "mapping_7872": { "value": "189885.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:DividendsPaidClassifiedAsFinancingActivities", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "ISO4217:EUR" } }, "mapping_7890": { "value": "199845.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:DividendsPaidClassifiedAsFinancingActivities", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "ISO4217:EUR" } }, "mapping_7873": { "value": "286023.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:ProceedsFromBorrowingsClassifiedAsFinancingActivities", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "ISO4217:EUR" } }, "mapping_7891": { "value": "1165986.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:ProceedsFromBorrowingsClassifiedAsFinancingActivities", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "ISO4217:EUR" } }, "mapping_7874": { "value": "238830.0", "decimals": 0, "dimensions": { "concept": "vbl:PrincipalLeasePayments", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "ISO4217:EUR" } }, "mapping_7892": { "value": "94823.0", "decimals": 0, "dimensions": { "concept": "vbl:PrincipalLeasePayments", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "ISO4217:EUR" } }, "mapping_7875": { "value": "82529.0", "decimals": 0, "dimensions": { "concept": "vbl:InterestPaidOnLeases", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "ISO4217:EUR" } }, "mapping_7893": { "value": "74176.0", "decimals": 0, "dimensions": { "concept": "vbl:InterestPaidOnLeases", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "ISO4217:EUR" } }, "mapping_8101": { "value": "674878.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:CashFlowsFromUsedInFinancingActivities", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "ISO4217:EUR" } }, "mapping_8102": { "value": "10025284.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:CashFlowsFromUsedInFinancingActivities", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "ISO4217:EUR" } }, "mapping_8097": { "value": "7494.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseInCashAndCashEquivalents", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00", "unit": "ISO4217:EUR" } }, "mapping_8098": { "value": "154065.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseInCashAndCashEquivalents", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "ISO4217:EUR" } }, "mapping_7877": { "value": "1085931.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:CashAndCashEquivalents", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2025-01-01T00:00:00", "unit": "ISO4217:EUR" } }, "mapping_7876": { "value": "931866.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:CashAndCashEquivalents", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2024-01-01T00:00:00", "unit": "ISO4217:EUR" } }, "mapping_7878": { "value": "1078437.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:CashAndCashEquivalents", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2026-01-01T00:00:00", "unit": "ISO4217:EUR" } }, "mapping_7894": { "value": "1085931.0", "decimals": 0, "dimensions": { "concept": "ifrs-full:CashAndCashEquivalents", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2025-01-01T00:00:00", "unit": "ISO4217:EUR" } }, "mapping_8140": { "value": "1. MATERIAL ACCOUNTING POLICY INFORMATION The accounting policies that are material to the consolidated financial statements are set out below. The accounting policies have been applied consistently to all periods presented in these consolidated financial statements. Basis of preparation These consolidated financial statements are prepared under the historical cost convention, except for revaluation of investment properties and financial assets at FVOCI that are measured at fair value at end of each reporting period. These consolidated financial statements are prepared in accordance with the provisions of the Maltese Companies Act (Cap. 386) and with the requirements of International Financial Reporting Standards (\u201cIFRS Accounting Standards\u201d) as adopted by the European Union (\u2018EU\u2019). The preparation of consolidated financial statements requires the use of certain critical accounting estimates. It also requires management to exercise its judgment in the process of applying the Group\u2019s accounting policies. The areas involving a higher degree of judgement or complexity, or areas where assumptions and estimates are significant to the consolidated financial statements are disclosed in Note 2 to these consolidated financial statements. Functional and presentation currency The consolidated financial statements are presented in Euro (\u20ac) which is the Group\u2019s functional and presentation currency. New or amended standards, interpretations and amendments adopted The Group adopted all new or amended accounting standards and interpretations issued by the International Accounting Standards Board (\u2018IASB\u2019) and the IFRS Interpretations Committee and endorsed by the EU that are mandatory for the current reporting period. The adoption of these amendments to the requirements of IFRS Accounting Standards as adopted by the EU did not result in substantial changes to the Group\u2019s accounting policies impacting the Group\u2019s financial performance and position. New or amended standards, interpretations and amendments issued but not yet effective At the end of the reporting period, certain new standards, interpretations or amendments thereto, were in issue and endorsed by the EU, but not yet effective for the current financial period. There have been no instances of early adoption of standards, interpretations or amendments ahead of their effective date. The directors anticipate that the adoption of the new standards, interpretations or amendments thereto, will not have a material impact on the consolidated financial statements upon initial application, except for the effects of IFRS 18 on the presentation and disclosure of certain items. IFRS 18 Presentation and Disclosure in Financial Statements will become effective for annual reporting periods beginning on or after 1 January 2027. Even though IFRS 18 will not have any effect on the recognition and measurement of items in the consolidated financial statements, it is expected to have an effect on the presentation and disclosure of certain items. These changes include categorisation and sub-totals in the statement of profit or loss, aggregation/disaggregation and labelling of information, and disclosure of management-defined performance measures. The Directors are assessing the effect of IFRS 18. Basis of consolidation The consolidated financial statements incorporate the financial statements of the Company and all its active subsidiaries that it controls. Subsidiaries are companies in which the Company, directly or indirectly, has an interest of more than one half of the voting rights or otherwise has the power to exercise control over the operations, is exposed, or has rights, to variable returns from its involvement with the investee, and has the ability to use its power to affect its returns. These consolidated financial statements comprise the Company and its wholly-owned active subsidiary, VREM Limited. Silver Horse Block Limited is an inactive project company, not consolidated and has no material impact on the consolidated financial statements. The financial statements of the subsidiaries are prepared for the same reporting year as the Company, using uniform accounting policies for like transactions and other events in similar circumstances. When necessary, adjustments are made to the financial statements of the subsidiaries to bring their accounting policies in line with the Group\u2019s accounting policies. All material intragroup assets and liabilities, equity, income, expenses, and cash flows relating to transactions between members of the Group are eliminated in full on consolidation. Revenue recognition Revenue is measured at the fair value of the consideration received or receivable for the value of goods sold and services provided, net of sales rebates and taxes in the normal course of business, net of value added tax and discounts where applicable. Revenue from contracts with customers \u2013 paid as service fee income, revenues from construction or other similar services \u2013 is assessed by the nature of the specific contribution and evaluated based on the underlying business and accounting factors and recognised under the principles of IFRS 15. Revenue is recognised to the extent that it is probable that future economic benefits will flow to the Group and these can be measured reliably. The following specific recognition criteria must also be met before revenue is recognised: Sale of investment property Sale of investment property is recognised when the significant risks and rewards of ownership of the property being sold are effectively transferred to the buyer. This is generally considered to occur at the later of the contract of sale and the date when all the Group's obligations relating to the property are completed and the possession of the property can be transferred in the manner stipulated by the contract of sale. Rental income Rental income from investment properties is recognised in profit or loss on a straight-line basis over the term of the lease. Service fee income Revenue from a contract to provide services is recognised over time as the services are rendered based on the amount that depicts the progress towards complete satisfaction of the performance obligation. Tax Income tax on profit or loss for the year comprises current and deferred tax. Income tax is recognised in profit or loss, except to the extent that it relates to items recognised directly to equity, in which case it is recognised in equity. Current tax is the expected tax payable on the taxable income for the year, using tax rates enacted or substantially enacted at the end of the reporting period, and any adjustment to tax payable in respect of previous yearsDeferred tax is provided using the liability method, providing for temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for taxation purposes. The following temporary differences are not provided for: goodwill not deductible for tax purposes, the initial recognition of assets and liabilities that affect neither accounting nor taxable profits, and differences relating to investments in subsidiaries to the extent that they will probably not reverse in the foreseeable future. The amount of deferred tax provided is based on the expected manner of realisation or settlement of the carrying amount of assets and liabilities, using tax rates enacted or substantially enacted at the end of the reporting period. A deferred tax asset is recognised only to the extent that it is probable that future taxable profits will be available against which the unused tax losses and credits can be utilised. Deferred tax assets are reduced to the extent that it is no longer probable that the related tax benefit will be realised. Property, plant and equipment Property, plant and equipment are stated at cost less accumulated depreciation and impairment losses to date. Cost includes expenditure directly attributable to the acquisition of the items as well as transfers from equity of any gains/losses on qualifying cash flow hedges of foreign currency purchases of property, plant and equipment. Depreciation is provided on all items of property, plant and equipment, except freehold land and assets under construction, at rates calculated to write off the cost less residual value of each asset over its expected useful life, as follows:
Building improvements 2% Straight Line
Office equipment 20% Straight Line
Furniture and fixtures 20% Straight Line
Other assets 20% Straight Line
Gains and losses on disposal of property, plant and equipment are determined by reference to their carrying amount and are taken into account in determining operating profit. The residual values and useful lives of the assets are reviewed and adjusted as appropriate, at each end of the reporting period. The carrying amount of an asset is written down immediately to its recoverable amount. Subsequent costs are included in the carrying amount of the asset or recognised as a separate asset, as appropriate, only when it is probable that future economic benefits associated with the item will flow to the Group and the cost of the item can be measured reliably. All other repairs and maintenance are charged to the income statement during the financial period in which they are incurred. Investment properties Investment properties are properties held to earn rentals or for capital appreciation or both. Investment properties are recognised as an asset when it is probable that the future economic benefits that are associated with the investment properties will flow to the entity and the cost can be measured reliably. Investment properties are measured initially at cost, including related transaction costs. After initial recognition, investment properties are carried at fair value at the date of the valuation, less any subsequent accumulated depreciation (Note 12). Gains and losses arising from changes in fair values are recorded in profit or lossThe fair value is the amount for which an asset could be exchanged between knowledgeable, willing parties in an arm\u2019s length transaction. The estimation of fair values does not assume that either the underlying assets are marketed for sale at the reporting date or that there is an intention to sell it in the near future. The objective is to estimate the exchange price at which hypothetical market participants would agree to transact. The fair value of investment properties is largely based on estimates using property appraisal techniques as outlined in Note 12 to these consolidated financial statements. Such estimates are inherently subjective and actual values can only be determined in a sales transaction. Investment properties are derecognised on disposal or when it is permanently withdrawn from use and no future economic benefits are expected from its disposal proceeds, if any, and the carrying amount and are recognised in profit or loss in the period of derecognition. Depreciation commences when the depreciable assets are available for use and is charged to profit or loss so as to write off the fair valued amount, less any estimated residual value, over their estimated useful lives, on the following basis: Improvements 2% Straight Line Furniture, fixtures and fittings 20% Straight Line If an investment property becomes owner occupied, it is reclassified as property, plant and equipment and its cost or fair value at the reclassification date becomes its cost for accounting purposes. Property that is being constructed or developed for future use as investment property is classified as property, plant and equipment and stated at cost until development is complete. Thereafter it is classified and accounted for as an investment property. If an item of property, plant and equipment becomes an investment property because its use has changed, any difference resulting between the carrying amount and the fair value of this item at the date of transfer is recognised in equity as a revaluation of property, plant and equipment under International Accounting Standards (\u2018IAS\u2019) 16. However, if a fair value gain reverses a previous impairment loss, the gain is recognised in the profit or loss. Trademark and licences Trademarks and licences are valued at cost. Trademarks and licences have a definite useful life and are carried at cost less accumulated amortisation. Amortisation is calculated to write off the cost in equal annual instalments over their estimated useful life of 10 years. Non-compete rights The non-compete rights are valued at cost and are amortised over a period of 5 years. Brand The value of brand name is recognised following acquisition. Brand name acquired over the past period (together with other assets, in complex transaction), has been valued to assess the actual incremental value it provides to the Group\u2019s operations and its value has been based on estimated income. The brand name is being amortised over 5 years. Investment in subsidiaries Subsidiaries are all those entities over which the Group has control, i.e., when the Group is exposed to, or has rights to, variable returns from its involvement with the entity and has the ability to affect those returns through its power to direct the activities of the entity. Investment in subsidiaries is initially recognised at cost, being the fair value of the consideration given, including acquisition costs and are subsequently carried at cost less accumulated impairment losses, if any. Dividend income is recognised when the Group\u2019s right to receive payment is established. Financial instruments Financial assets and financial liabilities are recognised when the Group becomes a party to the contractual provisions of the instrument. Financial assets and financial liabilities are initially recognised at their fair value plus directly attributable transaction costs for all financial assets or financial liabilities not classified at fair value through profit or loss. Financial assets and financial liabilities are offset, and the net amount presented in the statement of financial position when the Group has a legally enforceable right to set off the recognised amounts and intends either to settle on a net basis or to realise the asset and settle the liability simultaneously. Financial assets are derecognised when the contractual rights to the cash flows from the financial assets expire or when the entity transfers the financial asset and the transfer qualifies for derecognition. Financial liabilities are derecognised when they are extinguished. This occurs when the obligation specified in the contract is discharged, cancelled or expires. An equity instrument is any contract that evidences a residual interest in the assets of the Group after deducting all of its liabilities. Equity instruments are recorded at the proceeds received, net of direct issue costs. Financial instruments - continued Debt instruments are recognised as Fair Value through Other Comprehensive Income (\u201cFVOCI\u201d) depending on the Group's business model and aligns with the guidance of IFRS 9, specifically paragraph 4.1.2A. The financial assets are classified as FVOCI if the Group\u2019s business model is to hold the financial assets both to collect contractual cash flows and the financial assets pass the SPPI test (cash flows of the bond represent only principal repayment and interest on the principal amount outstanding. Changes in the fair value are recorded in Other Comprehensive Income. Upon derecognition, the cumulative fair value change in other comprehensive income is recognised in profit or loss. Impairment of financial assets The Group recognises an allowance for expected credit losses (ECLs) on financial assets that are measured at amortised cost. Equity instruments are not subject to impairment assessment. ECLs are based on the difference between the contractual cash flows due in accordance with the contract and all the cash flows that the Group expects to receive, discounted at an approximation of the original effective interest rate. ECLs are recognised in two stages. For credit exposures for which there has not been a significant increase in credit risk since initial recognition, ECLs are provided for credit losses that result from default events that are possible within the next 12-months (12-month ECL). For those credit exposures for which there has been a significant increase in credit risk since initial recognition, a loss allowance is required for credit losses expected over the remaining life of the exposure, irrespective of the timing of the default (lifetime ECL). For trade receivables, the Group applies a simplified approach to measuring ECLs which recognises lifetime ECLs. The ECLs on these financial assets are estimated using a provision matrix based on the Group\u2019s historical credit loss exerience, adjusted for forward-looking factors specific to the debtors and the economic environment Segment reporting The Board of Directors determines the operating segments in accordance with the requirements of IFRS 8 \u2018Operating Segments\u2019. An operating segment is a component that engages in business activities from which it may earn revenues and incur expenses, including revenues and expenses that relate to transactions with any of the Group\u2019s other components, and for which discrete financial information is available. An operating segment\u2019s operating results are reviewed regularly by the Board of Directors. The Board of Directors considers the Company to be made up of one operating segment. Leases IFRS 16 requires an entity to assess whether a contract is, or contains, a lease at the inception date. A contract is, or contains, a lease if the contract conveys the right to control the use of an identified asset for a period of time in exchange for a consideration. Leases are recognised as a right-of-use asset and a corresponding liability at the commencement date, being the date at which the leased asset is available for use by the Group. Right-of-use assets A right-of-use asset is recognised at the commencement date of a lease. The right-of-use asset is measured at cost, which comprises the initial amount of the lease liability, adjusted for, as applicable, any lease payments made at or before the commencement date net of any lease incentives received, any initial direct costs incurred, and, except where included in the cost of inventories, an estimate of costs expected to be incurred for dismantling and removing the underlying asset, and restoring the site or asset. Subsequent to initial recognition, right-of-use asset is measured under the revaluation model. The revalued amount is based on periodic valuations by external independent valuers, less subsequent depreciation and impairment, if any. The valuations are undertaken if there is a material change in the revalued amount relative to the carrying amount. Any accumulated depreciation at the date of revaluation is eliminated against the gross carrying amount of the asset and the net amount is restated to the revalued amount of the asset. Increases in the carrying amounts arising on revaluation of land and buildings are credited in other comprehensive income through to the revaluation surplus reserve in equity. Any revaluation decrements are initially taken in other comprehensive income through to the revaluation surplus reserve to the extent of any previous revaluation surplus of the same asset. Thereafter, the decrements are taken to profit or loss. Right-of-use assets are depreciated on a straight-line basis over the unexpired period of the lease or the estimated useful life of the asset, whichever is the shorter. Where the Group expects to obtain ownership of the leased asset at the end of the lease term, the depreciation is over its estimated useful life. Right-of use assets are subject to impairment or adjusted for any remeasurement of lease liabilities. The Group has elected not to recognise a right-of-use asset and corresponding lease liability for short-term leases with terms of 12 months or less and leases of low-value assets. Lease payments on these assets are expensed to profit or loss as incurred. Lease liability A lease liability is recognised at the commencement date of a lease. The lease liability is initially recognised at the present value of the lease payments to be made over the term of the lease, discounted using the interest rate implicit in the lease or, if that rate cannot be readily determined, the entity's incremental borrowing rate. Lease payments comprise of fixed payments less any lease incentives receivable, variable lease payments that depend on an index or a rate, amounts expected to be paid under residual value guarantees, exercise price of a purchase option when the exercise of the option is reasonably certain to occur, and any anticipated termination penalties. The variable lease payments that do not depend on an index or a rate are expensed in the period in which they are incurred. Lease liabilities are measured at amortised cost using the effective interest method. The carrying amounts are remeasured if there is a change in the following: future lease payments arising from a change in an index or a rate used; residual guarantee; lease term; certainty of a purchase option and termination penalties. When a lease liability is remeasured, an adjustment is made to the corresponding right-of use asset, or to profit or loss if the carrying amount of the right-of-use asset is fully written down. ", "dimensions": { "concept": "ifrs-full:DisclosureOfMaterialAccountingPolicyInformationExplanatory", "language": "en", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "mapping_7906": { "value": "1. MATERIAL ACCOUNTING POLICY INFORMATION These consolidated financial statements are prepared under the historical cost convention, except for revaluation of investment properties and financial assets at FVOCI that are measured at fair value at end of each reporting period. These consolidated financial statements are prepared in accordance with the provisions of the Maltese Companies Act (Cap. 386) and with the requirements of International Financial Reporting Standards (\u201cIFRS Accounting Standards\u201d) as adopted by the European Union (\u2018EU\u2019). ", "dimensions": { "concept": "ifrs-full:StatementOfIFRSCompliance", "language": "en", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "mapping_7905": { "value": "1. MATERIAL ACCOUNTING POLICY INFORMATION New or amended standards, interpretations and amendments adopted The Group adopted all new or amended accounting standards and interpretations issued by the International Accounting Standards Board (\u2018IASB\u2019) and the IFRS Interpretations Committee and endorsed by the EU that are mandatory for the current reporting period. The adoption of these amendments to the requirements of IFRS Accounting Standards as adopted by the EU did not result in substantial changes to the Group\u2019s accounting policies impacting the Group\u2019s financial performance and position. ", "dimensions": { "concept": "ifrs-full:DisclosureOfChangesInAccountingPoliciesExplanatory", "language": "en", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "mapping_7904": { "value": "1. MATERIAL ACCOUNTING POLICY INFORMATION New or amended standards, interpretations and amendments adopted The Group adopted all new or amended accounting standards and interpretations issued by the International Accounting Standards Board (\u2018IASB\u2019) and the IFRS Interpretations Committee and endorsed by the EU that are mandatory for the current reporting period. The adoption of these amendments to the requirements of IFRS Accounting Standards as adopted by the EU did not result in substantial changes to the Group\u2019s accounting policies impacting the Group\u2019s financial performance and position. ", "dimensions": { "concept": "ifrs-full:DescriptionOfInitialApplicationOfStandardsOrInterpretations", "language": "en", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "mapping_7903": { "value": "1. MATERIAL ACCOUNTING POLICY INFORMATION New or amended standards, interpretations and amendments issued but not yet effective At the end of the reporting period, certain new standards, interpretations or amendments thereto, were in issue and endorsed by the EU, but not yet effective for the current financial period. There have been no instances of early adoption of standards, interpretations or amendments ahead of their effective date. The directors anticipate that the adoption of the new standards, interpretations or amendments thereto, will not have a material impact on the consolidated financial statements upon initial application, except for the effects of IFRS 18 on the presentation and disclosure of certain items. IFRS 18 Presentation and Disclosure in Financial Statements will become effective for annual reporting periods beginning on or after 1 January 2027. Even though IFRS 18 will not have any effect on the recognition and measurement of items in the consolidated financial statements, it is expected to have an effect on the presentation and disclosure of certain items. These changes include categorisation and sub- totals in the statement of profit or loss, aggregation/disaggregation and labelling of information, and disclosure of management-defined performance measures. The Directors are assessing the effect of IFRS 18. ", "dimensions": { "concept": "ifrs-full:DescriptionOfExpectedImpactOfInitialApplicationOfNewStandardsOrInterpretations", "language": "en", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "mapping_7901": { "value": "1. MATERIAL ACCOUNTING POLICY INFORMATION Basis of preparation These consolidated financial statements are prepared under the historical cost convention, except for revaluation of investment properties and financial assets at FVOCI that are measured at fair value at end of each reporting period. These consolidated financial statements are prepared in accordance with the provisions of the Maltese Companies Act (Cap. 386) and with the requirements of International Financial Reporting Standards (\u201cIFRS Accounting Standards\u201d) as adopted by the European Union (\u2018EU\u2019). The preparation of consolidated financial statements requires the use of certain critical accounting estimates. It also requires management to exercise its judgment in the process of applying the Group\u2019s accounting policies. The areas involving a higher degree of judgement or complexity, or areas where assumptions and estimates are significant to the consolidated financial statements are disclosed in Note 2 to these consolidated financial statements. ", "dimensions": { "concept": "ifrs-full:DisclosureOfBasisOfPreparationOfFinancialStatementsExplanatory", "language": "en", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "mapping_7908": { "value": "Functional and presentation currency The consolidated financial statements are presented in Euro (\u20ac) which is the Group\u2019s functional and presentation currency. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFunctionalCurrencyExplanatory", "language": "en", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "mapping_7984": { "value": "1. MATERIAL ACCOUNTING POLICY INFORMATION - continued Depreciation is provided on all items of property, plant and equipment, except freehold land and assets under construction, at rates calculated to write off the cost less residual value of each asset over its expected useful life, as follows:
Building improvements 2% Straight Line
Office equipment 20% Straight Line
Furniture and fixtures 20% Straight Line
Other assets 20% Straight Line
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForDepreciationExpenseExplanatory", "language": "en", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "mapping_7980": { "value": "1. MATERIAL ACCOUNTING POLICY INFORMATION - continued Property, plant and equipment Property, plant and equipment are stated at cost less accumulated depreciation and impairment losses to date. Cost includes expenditure directly attributable to the acquisition of the items as well as transfers from equity of any gains/losses on qualifying cash flow hedges of foreign currency purchases of property, plant and equipment. Depreciation is provided on all items of property, plant and equipment, except freehold land and assets under construction, at rates calculated to write off the cost less residual value of each asset over its expected useful life, as follows:
Building improvements 2% Straight Line
Office equipment 20% Straight Line
Furniture and fixtures 20% Straight Line
Other assets 20% Straight Line
Gains and losses on disposal of property, plant and equipment are determined by reference to their carrying amount and are taken into account in determining operating profit. The residual values and useful lives of the assets are reviewed and adjusted as appropriate, at each end of the reporting period. The carrying amount of an asset is written down immediately to its recoverable amount. Subsequent costs are included in the carrying amount of the asset or recognised as a separate asset, as appropriate, only when it is probable that future economic benefits associated with the item will flow to the Group and the cost of the item can be measured reliably. All other repairs and maintenance are charged to the income statement during the financial period in which they are incurred. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory", "language": "en", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "mapping_7925": { "value": "1. MATERIAL ACCOUNTING POLICY INFORMATION - continued Segment reporting The Board of Directors determines the operating segments in accordance with the requirements of IFRS 8 \u2018Operating Segments\u2019. An operating segment is a component that engages in business activities from which it may earn revenues and incur expenses, including revenues and expenses that relate to transactions with any of the Group\u2019s other components, and for which discrete financial information is available. An operating segment\u2019s operating results are reviewed regularly by the Board of Directors. The Board of Directors considers the Company to be made up of one operating segment", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForSegmentReportingExplanatory", "language": "en", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "mapping_7924": { "value": "1. MATERIAL ACCOUNTING POLICY INFORMATION - continued Leases IFRS 16 requires an entity to assess whether a contract is, or contains, a lease at the inception date. A contract is, or contains, a lease if the contract conveys the right to control the use of an identified asset for a period of time in exchange for a consideration. Leases are recognised as a right-of-use asset and a corresponding liability at the commencement date, being the date at which the leased asset is available for use by the Group. Leases - continued Right-of-use assets A right-of-use asset is recognised at the commencement date of a lease. The right-of-use asset is measured at cost, which comprises the initial amount of the lease liability, adjusted for, as applicable, any lease payments made at or before the commencement date net of any lease incentives received, any initial direct costs incurred, and, except where included in the cost of inventories, an estimate of costs expected to be incurred for dismantling and removing the underlying asset, and restoring the site or asset. Subsequent to initial recognition, right-of-use asset is measured under the revaluation model. The revalued amount is based on periodic valuations by external independent valuers, less subsequent depreciation and impairment, if any. The valuations are undertaken if there is a material change in the revalued amount relative to the carrying amount. Any accumulated depreciation at the date of revaluation is eliminated against the gross carrying amount of the asset and the net amount is restated to the revalued amount of the asset. Increases in the carrying amounts arising on revaluation of land and buildings are credited in other comprehensive income through to the revaluation surplus reserve in equity. Any revaluation decrements are initially taken in other comprehensive income through to the revaluation surplus reserve to the extent of any previous revaluation surplus of the same asset. Thereafter, the decrements are taken to profit or loss. Right-of-use assets are depreciated on a straight-line basis over the unexpired period of the lease or the estimated useful life of the asset, whichever is the shorter. Where the Group expects to obtain ownership of the leased asset at the end of the lease term, the depreciation is over its estimated useful life. Right-of use assets are subject to impairment or adjusted for any remeasurement of lease liabilities. The Group has elected not to recognise a right-of-use asset and corresponding lease liability for short-term leases with terms of 12 months or less and leases of low-value assets. Lease payments on these assets are expensed to profit or loss as incurred. Lease liability A lease liability is recognised at the commencement date of a lease. The lease liability is initially recognised at the present value of the lease payments to be made over the term of the lease, discounted using the interest rate implicit in the lease or, if that rate cannot be readily determined, the entity's incremental borrowing rate. Lease payments comprise of fixed payments less any lease incentives receivable, variable lease payments that depend on an index or a rate, amounts expected to be paid under residual value guarantees, exercise price of a purchase option when the exercise of the option is reasonably certain to occur, and any anticipated termination penalties. The variable lease payments that do not depend on an index or a rate are expensed in the period in which they are incurred. Lease liabilities are measured at amortised cost using the effective interest method. The carrying amounts are remeasured if there is a change in the following: future lease payments arising from a change in an index or a rate used; residual guarantee; lease term; certainty of a purchase option and termination penalties. When a lease liability is remeasured, an adjustment is made to the corresponding right-of use asset, or to profit or loss if the carrying amount of the right-of-use asset is fully written down. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForLeasesExplanatory", "language": "en", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "mapping_7922": { "value": "1. MATERIAL ACCOUNTING POLICY INFORMATION - continued Financial instruments Financial assets and financial liabilities are recognised when the Group becomes a party to the contractual provisions of the instrument. Financial assets and financial liabilities are initially recognised at their fair value plus directly attributable transaction costs for all financial assets or financial liabilities not classified at fair value through profit or loss. Financial assets and financial liabilities are offset, and the net amount presented in the statement of financial position when the Group has a legally enforceable right to set off the recognised amounts and intends either to settle on a net basis or to realise the asset and settle the liability simultaneously. Financial assets are derecognised when the contractual rights to the cash flows from the financial assets expire or when the entity transfers the financial asset and the transfer qualifies for derecognition. Financial liabilities are derecognised when they are extinguished. This occurs when the obligation specified in the contract is discharged, cancelled or expires. An equity instrument is any contract that evidences a residual interest in the assets of the Group after deducting all of its liabilities. Equity instruments are recorded at the proceeds received, net of direct issue costs. 1. MATERIAL ACCOUNTING POLICY INFORMATION - continued Financial instruments - continued Debt instruments are recognised as Fair Value through Other Comprehensive Income (\u201cFVOCI\u201d) depending on the Group's business model and aligns with the guidance of IFRS 9, specifically paragraph 4.1.2A. The financial assets are classified as FVOCI if the Group\u2019s business model is to hold the financial assets both to collect contractual cash flows and the financial assets pass the SPPI test (cash flows of the bond represent only principal repayment and interest on the principal amount outstanding. Changes in the fair value are recorded in Other Comprehensive Income. Upon derecognition, the cumulative fair value change in other comprehensive income is recognised in profit or loss. Impairment of financial assets The Group recognises an allowance for expected credit losses (ECLs) on financial assets that are measured at amortised cost. Equity instruments are not subject to impairment assessment. ECLs are based on the difference between the contractual cash flows due in accordance with the contract and all the cash flows that the Group expects to receive, discounted at an approximation of the original effective interest rate. ECLs are recognised in two stages. For credit exposures for which there has not been a significant increase in credit risk since initial recognition, ECLs are provided for credit losses that result from default events that are possible within the next 12-months (12-month ECL). For those credit exposures for which there has been a significant increase in credit risk since initial recognition, a loss allowance is required for credit losses expected over the remaining life of the exposure, irrespective of the timing of the default (lifetime ECL). For trade receivables, the Group applies a simplified approach to measuring ECLs which recognises lifetime ECLs. The ECLs on these financial assets are estimated using a provision matrix based on the Group\u2019s historical credit loss experience, adjusted for forward-looking factors specific to the debtors and the economic environment. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory", "language": "en", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "mapping_7920": { "value": "1. MATERIAL ACCOUNTING POLICY INFORMATION - continued Intangible assets Trademark and licences Trademarks and licences are valued at cost. Trademarks and licences have a definite useful life and are carried at cost less accumulated amortisation. Amortisation is calculated to write off the cost in equal annual instalments over their estimated useful life of 10 years. Non-compete rights The non-compete rights are valued at cost and are amortised over a period of 5 years. Brand The value of brand name is recognised following acquisition. Brand name acquired over the past period (together with other assets, in complex transaction), has been valued to assess the actual incremental value it provides to the Group\u2019s operations and its value has been based on estimated income. The brand name is being amortised over 5 years. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForIntangibleAssetsOtherThanGoodwillExplanatory", "language": "en", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "mapping_7918": { "value": "1. MATERIAL ACCOUNTING POLICY INFORMATION - continued Investment properties Investment properties are properties held to earn rentals or for capital appreciation or both. Investment properties are recognised as an asset when it is probable that the future economic benefits that are associated with the investment properties will flow to the entity and the cost can be measured reliably. Investment properties are measured initially at cost, including related transaction costs. After initial recognition, investment properties are carried at fair value at the date of the valuation, less any subsequent accumulated depreciation (Note 12). Gains and losses arising from changes in fair values are recorded in profit or loss. The fair value is the amount for which an asset could be exchanged between knowledgeable, willing parties in an arm\u2019s length transaction. The estimation of fair values does not assume that either the underlying assets are marketed for sale at the reporting date or that there is an intention to sell it in the near future. The objective is to estimate the exchange price at which hypothetical market participants would agree to transact. The fair value of investment properties is largely based on estimates using property appraisal techniques as outlined in Note 12 to these consolidated financial statements. Such estimates are inherently subjective and actual values can only be determined in a sales transaction. Investment properties are derecognised on disposal or when it is permanently withdrawn from use and no future economic benefits are expected from its disposal proceeds, if any, and the carrying amount and are recognised in profit or loss in the period of derecognition. Depreciation commences when the depreciable assets are available for use and is charged to profit or loss so as to write off the fair valued amount, less any estimated residual value, over their estimated useful lives, on the following basis: Improvements 2% Straight Line Furniture, fixtures and fittings 20% Straight Line If an investment property becomes owner occupied, it is reclassified as property, plant and equipment and its cost or fair value at the reclassification date becomes its cost for accounting purposes. Property that is being constructed or developed for future use as investment property is classified as property, plant and equipment and stated at cost until development is complete. Thereafter it is classified and accounted for as an investment property. If an item of property, plant and equipment becomes an investment property because its use has changed, any difference resulting between the carrying amount and the fair value of this item at the date of transfer is recognised in equity as a revaluation of property, plant and equipment under International Accounting Standards (\u2018IAS\u2019) 16. However, if a fair value gain reverses a previous impairment loss, the gain is recognised in the profit or loss. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForInvestmentPropertyExplanatory", "language": "en", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "mapping_7914": { "value": "1. MATERIAL ACCOUNTING POLICY INFORMATION - continued Tax Income tax on profit or loss for the year comprises current and deferred tax. Income tax is recognised in profit or loss, except to the extent that it relates to items recognised directly to equity, in which case it is recognised in equity. Current tax is the expected tax payable on the taxable income for the year, using tax rates enacted or substantially enacted at the end of the reporting period, and any adjustment to tax payable in respect of previous years. Deferred tax is provided using the liability method, providing for temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for taxation purposes. The following temporary differences are not provided for: goodwill not deductible for tax purposes, the initial recognition of assets and liabilities that affect neither accounting nor taxable profits, and differences relating to investments in subsidiaries to the extent that they will probably not reverse in the foreseeable future. The amount of deferred tax provided is based on the expected manner of realisation or settlement of the carrying amount of assets and liabilities, using tax rates enacted or substantially enacted at the end of the reporting period. A deferred tax asset is recognised only to the extent that it is probable that future taxable profits will be available against which the unused tax losses and credits can be utilised. Deferred tax assets are reduced to the extent that it is no longer probable that the related tax benefit will be realised. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForIncomeTaxExplanatory", "language": "en", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "mapping_7913": { "value": "1. MATERIAL ACCOUNTING POLICY INFORMATION - continued Basis of consolidation The consolidated financial statements incorporate the financial statements of the Company and all its active subsidiaries that it controls. Subsidiaries are companies in which the Company, directly or indirectly, has an interest of more than one half of the voting rights or otherwise has the power to exercise control over the operations, is exposed, or has rights, to variable returns from its involvement with the investee, and has the ability to use its power to affect its returns. These consolidated financial statements comprise the Company and its wholly-owned active subsidiary, VREM Limited. Silver Horse Block Limited is an inactive project company, not consolidated and has no material impact on the consolidated financial statements. The financial statements of the subsidiaries are prepared for the same reporting year as the Company, using uniform accounting policies for like transactions and other events in similar circumstances. When necessary, adjustments are made to the financial statements of the subsidiaries to bring their accounting policies in line with the Group\u2019s accounting policies. All material intragroup assets and liabilities, equity, income, expenses, and cash flows relating to transactions between members of the Group are eliminated in full on consolidation. ", "dimensions": { "concept": "ifrs-full:DisclosureOfBasisOfConsolidationExplanatory", "language": "en", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "mapping_7912": { "value": "1. MATERIAL ACCOUNTING POLICY INFORMATION - continued Revenue recognition Revenue is measured at the fair value of the consideration received or receivable for the value of goods sold and services provided, net of sales rebates and taxes in the normal course of business, net of value added tax and discounts where applicable. Revenue from contracts with customers \u2013 paid as service fee income, revenues from construction or other similar services \u2013 is assessed by the nature of the specific contribution and evaluated based on the underlying business and accounting factors and recognised under the principles of IFRS 15. Revenue is recognised to the extent that it is probable that future economic benefits will flow to the Group and these can be measured reliably. The following specific recognition criteria must also be met before revenue is recognised: Sale of investment property Sale of investment property is recognised when the significant risks and rewards of ownership of the property being sold are effectively transferred to the buyer. This is generally considered to occur at the later of the contract of sale and the date when all the Group's obligations relating to the property are completed and the possession of the property can be transferred in the manner stipulated by the contract of sale. Rental income Rental income from investment properties is recognised in profit or loss on a straight-line basis over the term of the lease. Service fee income Revenue from a contract to provide services is recognised over time as the services are rendered based on the amount that depicts the progress towards complete satisfaction of the performance obligation. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForRecognitionOfRevenue", "language": "en", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "mapping_7995": { "value": "Deferred tax is provided using the liability method, providing for temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for taxation purposes. The following temporary differences are not provided for: goodwill not deductible for tax purposes, the initial recognition of assets and liabilities that affect neither accounting nor taxable profits, and differences relating to investments in subsidiaries to the extent that they will probably not reverse in the foreseeable future. The amount of deferred tax provided is based on the expected manner of realisation or settlement of the carrying amount of assets and liabilities, using tax rates enacted or substantially enacted at the end of the reporting period. A deferred tax asset is recognised only to the extent that it is probable that future taxable profits will be available against which the unused tax losses and credits can be utilised. Deferred tax assets are reduced to the extent that it is no longer probable that the related tax benefit will be realised. MATERIAL ACCOUNTING POLICY INFORMATION - continued Leases - continued ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForDeferredIncomeTaxExplanatory", "language": "en", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "mapping_7923": { "value": "Investment in subsidiaries Subsidiaries are all those entities over which the Group has control, i.e., when the Group is exposed to, or has rights to, variable returns from its involvement with the entity and has the ability to affect those returns through its power to direct the activities of the entity. Investment in subsidiaries is initially recognised at cost, being the fair value of the consideration given, including acquisition costs and are subsequently carried at cost less accumulated impairment losses, if any. Dividend income is recognised when the Group\u2019s right to receive payment is established. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForSubsidiariesExplanatory", "language": "en", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "mapping_7926": { "value": "2. CRITICAL ACCOUNTING JUDGEMENTS, ESTIMATES AND ASSUMPTIONS In the application of the Group\u2019s accounting policies, which are described in Note 1 to these consolidated financial statements, the management is required to make judgments, estimates and assumptions that affect the reported amounts of assets and liabilities that are not readily apparent from other sources. The estimates and assumptions are based on historical and other factors, including expectations of future events that are believed to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects both current and future periods. In the opinion of the Directors, with the exception of the fair valuation of investment properties (Note 12), the accounting estimates and judgements made in the course of preparing these consolidated financial statements are not difficult, subjective or complex to a degree which would warrant their description as critical in terms of the requirements of IAS 1. ", "dimensions": { "concept": "ifrs-full:DisclosureOfAccountingJudgementsAndEstimatesExplanatory", "language": "en", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "mapping_7968": { "value": "3. REVENUE
20252024
\u20ac\u20ac
Rental income3,726,6753,485,950
Service fee income469,756297,297
Management fees70,97872,677
Other revenue426,001209,443
4,693,4104,065,367
", "dimensions": { "concept": "ifrs-full:DisclosureOfRevenueExplanatory", "language": "en", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "mapping_8035": { "value": "4. INVESTMENT INCOME
20252024
\u20ac\u20ac
Increasein fair value of investment properties1,423,8032,558,543
The \u20ac1,423,803 (2024: \u20ac2,558,543) relates to an increase in fair value of investment properties resulting from concluded acquisitions, ongoing development activity and applicable adjustments, which are considering property specific conditions, namely development project status or operational conditions. 12. INVESTMENT PROPERTIES
Right-of-use assetsInvestment propertiesTotal
\u20ac\u20ac\u20ac
Fair value
At 1 January 20252,825,57982,140,68984,966,268
Additions433,7272,621,8963,055,623
Fair value movement93,0131,330,7901,423,803
At 31 December 20253,352,31986,093,37589,445,694
Provision
At 1 January 2025263,7091,351,1901,614,899
Depreciation272,682254,186526,868
At 31 December 2025536,3911,605,3762,141,767
Net book value
At 31 December 2024 2,561,87080,789,49983,351,369
At 31 December 20252,815,92880,789,49987,303,927
Depreciation relates to the depreciation of improvements and furniture currently included in Investment Properties. The depreciable amount is allocated on a systematic basis to each accounting period over its useful life. Lessor commitments
2025 2024
\u20ac \u20ac
Minimum lease commitments receivable but not recognised in the financial statements:
1 year or less 512,644 490,997
Between 1 and 2 years 466,284 502,311
Between 2 and 3 years 406,258 432,792
Between 3 and 4 years 334,574 421,655
Between 4 and 5 years 240,640 305,686
Over 5 years 562,823 803,559
2,523,223 2,957,000
Fair value of investment properties The book value of the property held by the Group has been increased by \u20ac1,423,803 (2024: \u20ac2,558,543) to reflect the established fair value as at 31 December 2025, reflecting several different factors and adjustments to the individual property values, including the downward adjustment to certain property categories resulting from the market changes and developments of the past two years, and reflecting improvements and additions to the portfolio during the year, resulting from the acquisition and development activity of the Group. It is important to note that the Group has not recognised any value over the costs incurred for its contracts and promises of sale of property which have not yet been fully acquired, but binding contracts are existing, and is conservatively left out of the book value of the Group. The Group considers that the current macroeconomic conditions (e.g. high interest rates, yields and vacancy expectations) are properly reflected in its fair value measurements, noting that the city of Valletta, where predominant part of the Group\u2019s assets are located, represents a specific micro-market, which UNESCO-protected, historic buildings and limited supply, while demand is steadily increasing. Valuation process As is usually done by the Group, on an annual basis, during the reporting year it has carried out a full property valuation exercise, performed by an independent professional valuer to assess the market value of its assets, whether these are owned or leased. The annual valuation report was prepared by Edwin Mintoff Architects (\u2018EMA\u2019) in their capacity of a warranted architect and civil engineers, as independent asset valuers. This full valuation report was prepared on a market value basis, based on the principles defined by the Royal Institute of Chartered Surveyors (\u2018RICS\u2019) Standards and applicable adjustments, which are made for property specific conditions of the properties, reflecting the development project status or operational conditions and was completed in January 2026, as part of the annual asset valuation exercise. On this basis, the Board of Directors has made its own assessment which has considered the overall valuation values of the independent report, and has also assessed the individual property specific values, assessing the various specific developments and adjusted for property-specific status of the ongoing development projects, as well as the investment value potential for the Group\u2019s asset portfolio. The assessment of the fair market value of the Group\u2019s asset portfolio performed by the Board of Directors as at the end of the reporting period is considered conservative and is based on careful assessment of the available independent valuation reports, market information and consideration of the actual market conditions and forecasts. Valuation techniques It should be noted that the actual price (liquidation value) which the Group might obtain, if forced to sell all properties in the short term, might be lower than the estimated figures accepted as fair market value of the specific assets, as this is usual in similar cases. In addition, there are several risks and discount factors associated specifically with the nature and operation of the Group\u2019s strategy and its line of business, which were taken into account in establishing the fair market value of the properties and related assets reflected in the Directors assessment, namely: - Ability to match the forecasted schedule and development budgets; - Securing the necessary finance for all development related expenses (beyond the currently available funds) for all the projects within a short time frame might prove difficult; - Securing the necessary development and operational permits within a relatively short time frame for all the planned development projects might not materialize in time, resulting in delays or undue strain on resources and finance and overall increased development costs and delayed proceeds from operation; - Finding prospective buyers or partners or operators for some or all the projects within a short time frame might not be possible at the forecasted terms and conditions; - The development and execution risks required to make some of these properties operational (particularly the Silver Horse Block Phase 2 project) are considered high; and - The impact of changing general market conditions and regulatory risks associated with the operation of finished and managed properties is a risk itself. For investment properties categorised under Level 3 of the fair value hierarchy, the valuation is based on a comparative valuation methodology, and in certain cases, discounted cash flow valuation methodology, as detailed below. The annual Directors\u2019 valuation is based on the independent valuer\u2019s estimated market values, and where applicable specific (usually reflecting discounts) adjustments are applied reflecting specific property/development characteristics. INVESTMENT PROPERTIES - continued Valuation techniques - continued For the residential and commercial properties under comparative approach, this is a relative valuation method in which one compares the current value of a property to another with similar characteristics. This method involves comparing the subject property with similar properties that have been recently sold and those that are currently being offered for sale in the vicinity of other comparable localities. The characteristics, merits and demerits of these properties are considered, and appropriate adjustments thereof are then made to arrive at the value of the subject property. The higher the comparable market rates, the higher the fair value of the property. The fair value of the Silver Horse Block Phase 2, a property currently in advanced stage of development, is determined based on project value, using various approaches, including a discounted cashflow method. The discounted cashflow method is based on assumptions, which consider the specific terms of the signed conditional lease agreement, assessment of the estimated development costs and discounts the projected revenue streams to a present value using a typical market discount rate. The applied discount rate in this case is 6%, reflecting current market conditions and parameters. The higher the discount rate, the lower the fair value. Directors\u2019 assessment As at 31 December 2025, the Directors\u2019 Valuation Report reflects conservatively updated values for each of the Group\u2019s assets, taking into account the specific status and condition of the underlying properties. Certain properties are currently under renovation, development, or in a preparatory stage in anticipation of future refurbishment. In such cases, the valuation typically incorporates appropriate discounts to reflect development risks and other project-specific factors. The values of such projects are reviewed annually and adjusted to reflect changes in legal status (including tenant arrangements), development progress, and other relevant considerations. As projects advance and associated risks are mitigated, previously applied discounts may be partially or fully released in accordance with the applicable valuation principles and professional recommendations. The valuation principles and methodologies applied are consistent with the relevant guidance issued by the Kamra tal-Periti (KtP) and generally accepted international industry practices. Based on independent expert opinions and other available market information, the Directors remain of the view that the Valletta property market is relatively less exposed to short-term volatility compared to other property markets in Malta. Accordingly, the Directors are not aware of any material adverse changes in market values as at the date of this report. Considering the above, as at 31 December 2025 the Directors approved a total property value of \u20ac87,303,927, representing an increase of approximately \u20ac4.0 million (an average of approximately 5%) compared to the Directors\u2019 valuation as at the end of 2024. This increase reflects ongoing property development activities as well as prevailing market conditions and trends. In establishing the valuation, the Directors considered the recommendations contained in the reports prepared by independent third-party valuers, including suggested adjustments to the fair market values of certain assets to reflect current conditions in the Valletta property market. Projects under development, as well as projects completed but not yet operational at the valuation date, were reflected based on their estimated project value at that time, with the values of fully developed assets expected to be realised upon completion and commencement of operations. The Directors have also confirmed that the Group\u2019s long-term operational outlook remains materially unchanged, particularly in relation to the projected long-term achievable revenues and operational profitability expected from the operation of the Group\u2019s fully developed assets. The Group applies IFRS 16 - Leases, which permits the recognition of leased properties in the statement of financial position. In addition, the Group applies a similar approach to certain managed properties where long-term contractual arrangements with property owners provide the Group with effective control over the operation and economic benefits of those properties, where relevant and applicable. ", "dimensions": { "concept": "ifrs-full:DisclosureOfInvestmentPropertyExplanatory", "language": "en", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "mapping_8039": { "value": "5. EXPENSES BY NATURE
20252024
\u20ac\u20ac
Salaries and wages737,160631,480
Social security and maternity fund contributions39,24537,597
Capitalised salaries(121,285)(113,159)
655,120555,918
Average number of employees2524
During the year 2025, staff salaries of \u20ac121,285 have been capitalised to investment properties (2024: \u20ac113,159). ", "dimensions": { "concept": "ifrs-full:DisclosureOfInformationAboutEmployeesExplanatory", "language": "en", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "mapping_8038": { "value": "5. EXPENSES BY NATURE Depreciation and amortisation643,140466,397", "dimensions": { "concept": "ifrs-full:DisclosureOfDepreciationAndAmortisationExpenseExplanatory", "language": "en", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "mapping_8037": { "value": "5. EXPENSES BY NATURE
20252024
\u20ac\u20ac
Direct costs1,725,7841,702,351
Employee benefit expense(i)655,120555,918
Directors\u2019 fees79,00076,049
Auditor\u2019s remuneration:
Audit fee22,50018,500
Other non-assurance services1,850950
Depreciation and amortisation643,140466,397
Management fees from related party181,502252,587
Other administrative expenses317,696317,482
3,626,5923,390,234
(i) Employee benefit expense includes the following:
20252024
\u20ac\u20ac
Salaries and wages737,160631,480
Social security and maternity fund contributions39,24537,597
Capitalised salaries(121,285)(113,159)
655,120555,918
Average number of employees2524
During the year 2025, staff salaries of \u20ac121,285 have been capitalised to investment properties (2024: \u20ac113,159). ", "dimensions": { "concept": "ifrs-full:DisclosureOfExpensesByNatureExplanatory", "language": "en", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "mapping_7927": { "value": "6. OTHER OPERATING INCOME
20252024
\u20ac\u20ac
Miscellaneous income20,80021,673
", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherOperatingIncomeExplanatory", "language": "en", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "mapping_8030": { "value": "7. INTEREST INCOME
20252024
\u20ac\u20ac
Interest on financial assets at FVOCI80,281-
Loan interest29,23213,901
Bank interest7,1343,776
116,64717,677
", "dimensions": { "concept": "ifrs-full:DisclosureOfInterestIncomeExplanatory", "language": "en", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "mapping_8032": { "value": "8. FINANCE COSTS
20252024
\u20ac\u20ac
Interest on bank and other loans 177,381163,248
Interest on bonds 555,45789,786
Interest on lease liabilities 82,52974,176
815,367327,210
", "dimensions": { "concept": "ifrs-full:DisclosureOfInterestExpenseExplanatory", "language": "en", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "mapping_8031": { "value": "8. FINANCE COSTS
20252024
\u20ac\u20ac
Interest on bank and other loans 177,381163,248
Interest on bonds 555,45789,786
Interest on lease liabilities 82,52974,176
815,367327,210
", "dimensions": { "concept": "ifrs-full:DisclosureOfFinanceCostExplanatory", "language": "en", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "mapping_8033": { "value": "9. INCOME TAX EXPENSE Tax is provided for at the rate of 35% for Group profits, except for certain bank interest receivable which is taxed at 15% and sale of property which is taxed at 5%.
20252024
\u20ac\u20ac
Current year tax
Income tax on the taxable income for the year135,7677,472
Final withholding tax1,070650
Deferred tax
Movement in deferred tax asset (Note 16) 59,695(231,812)
Movement in deferred tax liability (Note 22) 79,361675,237
Movement in revaluation reserve 12,25112,251
288,144463,798
Tax applying the statutory domestic income tax rate and the income tax expense for the year are reconciled as follows:
20252024
\u20ac\u20ac
Profit on ordinary activities before tax1,862,0492,945,816
Theoretical tax expense at 35%Tax effect of:651,7171,031,036
Effect of different tax rate used for interest income(1,427)(5,537)
Effect of different tax rate used in fair value gain on investment (355,303)(409,744)
Other movement(6,843)(151,957)
288,144463,798
", "dimensions": { "concept": "ifrs-full:DisclosureOfIncomeTaxExplanatory", "language": "en", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "mapping_8026": { "value": "10. INTANGIBLE ASSETS
LicencesNon-competerightsBrandTotal
\u20ac\u20ac\u20ac\u20ac
Cost
At 1 January 2025 349150,00066,000216,349
Additions ----
At 31 December 2025349150,00066,000216,349
Provision for diminutionvalue
At 1 January 2025 348120,00042,800163,148
Amortisation for the year 130,00013,20043,201
At 31 December 2025349150,00056,000206,349
Net book value
At 31 December 2024 130,00023,20053,201
At 31 December 2025 --10,00010,000
", "dimensions": { "concept": "ifrs-full:DisclosureOfIntangibleAssetsExplanatory", "language": "en", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "mapping_8028": { "value": "11. PROPERTY, PLANT AND EQUIPMENT
Right-of-use assetsBuildingimprove-mentsOfficeequipmentFurnitureandfixturesOtherassetsTotal
\u20ac\u20ac\u20ac\u20ac\u20ac\u20ac
Cost
At 1 January 20251,035,369100,80643,96243,104259,1371,482,378
Additions--17,3494,222-21,571
At 31 December 20251,035,369100,80661,31147,326259,1371,503,949
Depreciation
At 1 January 2025414,14724,87143,31428,081236,403746,816
Charge for the year51,8162,0163,8671,72613,64673,071
At 31 December 2025465,96326,88747,18129,807250,049819,887
Net book value
At 31 December 2024 621,222 75,935648 15,02322,734 735,562
At 31 December 2025 569,406 73,91914,130 17,5199,088 684,062
", "dimensions": { "concept": "ifrs-full:DisclosureOfPropertyPlantAndEquipmentExplanatory", "language": "en", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "mapping_7987": { "value": "13. INVESTMENT IN SUBSIDIARY
Subsidiary Registered addressClass of shares% of ownership
20252024
Silver Horse54, Marsamxett RoadOrdinary Shares100100
Block LtdValletta VLT 1853, Malta
Silver Horse Block Ltd is at present a SPV designated for future use, related to the Company\u2019s operations or development projects, currently holding no material assets, not carrying any activity and therefore being inactive. The Group recognises the investment in Silver Horse Block Ltd at its cost of \u20ac1,200 (immaterial subsidiary for the group and hence, not consolidated). The following table summarises the financial information of the Group\u2019s subsidiary as at and for the year ended 31 December 2025.
Capital and reserves Profit
\u20ac\u20ac
Subsidiary
Silver Horse Block Ltd1,200-
", "dimensions": { "concept": "ifrs-full:DisclosureOfSignificantInvestmentsInSubsidiariesExplanatory", "language": "en", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "mapping_8062": { "value": "14. FINANCIAL ASSETS AT FAIR VALUE THROUGH OTHER COMPREHENSIVE INCOME (\u201cFVOCI\u201d)
20252024
\u20ac\u20ac
Quoted debt instruments
Balance as at 1 January9,105,174-
Additions during the year2,096,0279,113,992
Redemptions during the year(5,205,654)-
Movement in fair value48,797(8,818)
Balance as at 31 December 6,044,3449,105,174
20252024
\u20ac\u20ac
Non-current-3,898,107
Current6,044,3445,207,067
6,044,3449,105,174
The Group\u2019s financial assets are quoted debt instruments. The fair value gain of the financial assets amounting to \u20ac48,797 (2024: fair value loss of \u20ac8,818) is recognised in other comprehensive income and reflected as fair value reserve. ", "dimensions": { "concept": "ifrs-full:DisclosureOfFinancialAssetsExplanatory", "language": "en", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "mapping_8020": { "value": "15. LOAN RECEIVABLE
20252024
\u20ac\u20ac
Loan to third-party(i)132,478126,228
The loan receivable bears 6% interest rate per annum. The loan was not repaid during the year, because the parties have agreed and entered into an agreement, which will provide a repayment of the full loan amount to the Group through cooperation in utilisation of the commercial premises of the debtor. The details of the commercial cooperation are to be finalised based on the existing agreement, and the rent due is to be set off as collections on account of the loan and related receivables. ", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherAssetsExplanatory", "language": "en", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "mapping_7930": { "value": "16. DEFERRED TAX ASSETS The asset for deferred tax is analysed as follows:
20252024
\u20ac\u20ac
Excess of capital allowances over depreciation(295,817)(184,459)
Unamortised bond issue costs111,137-
Lease liabilities498,911558,385
314,231373,926
Deferred tax assets and liabilities are offset when the Group has a legally enforceable right to set off the recognised amounts and intends either to settle on a net basis or to realise the asset and settle the liability simultaneously. Provision was made for deferred tax for all temporary differences, except of fair value adjustment for investment properties, on the basis of the liability method using a principal tax rate of 35%. The deferred tax asset movement is made up of:
20252024
\u20ac\u20ac
Balance at beginning of the year 373,926142,114
Movement in the excess of capital allowances over depreciation (111,358)(102,119)
Movement in unamortised bond issue costs 111,137-
Movement in unabsorbed tax losses and capital allowances -(124,077)
Movement in lease liabilities(59,474)458,008
Balance at end of year 314,231373,926
22. DEFERRED TAX LIABILITIES
20252024
\u20ac\u20ac
Effect of fair value movement on investment properties 4,919,4504,776,423
Right-of-use assets209,006272,672
5,128,4565,049,095
Deferred tax assets and liabilities are offset when the Group has a legally enforceable right to set off the recognised amounts and intends either to settle on a net basis or to realise the asset and settle the liability simultaneously. Provision was made for deferred tax for all temporary differences on the basis of the liability method using a principal tax rate at 35%/5%.
20252024
\u20ac\u20ac
Balance at beginning of the year 5,049,0954,373,858
Movement of investment properties fair value 143,027485,746
Movement in right-of-use assets (63,666)189,491
Balance at end of year 5,128,4565,049,095
The Group is calculating its deferred tax liability on investment properties at 5%, being the rate applied if it had to sell its properties within 5 years of acquisition. ", "dimensions": { "concept": "ifrs-full:DisclosureOfDeferredTaxesExplanatory", "language": "en", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "mapping_8018": { "value": "17. TRADE AND OTHER RECEIVABLES
20252024
\u20ac\u20ac
Trade receivables (i)216,967238,668
VAT refundable182,080158,149
Prepayments and accrued income91,64099,585
Accrued interest21,23327,136
Accrued service fee267,053-
Advances to employees37,66515,815
Other receivables105,90239,819
922,540579,172
Provision for expected credit losses(39,055)(39,055)
883,485540,117
(i) Trade receivables are non-interest bearing and are generally on a 30-day term. The Group\u2019s exposure to credit risk and impairment losses relating to trade and other receivables is disclosed in Note 26. ", "dimensions": { "concept": "ifrs-full:DisclosureOfTradeAndOtherReceivablesExplanatory", "language": "en", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "mapping_7932": { "value": "18. CASH AND CASH EQUIVALENTS Cash and cash equivalents included in the statement of cash flows comprise the following statement of financial position amounts:
20252024
\u20ac\u20ac
Cash at banks1,077,4941,084,951
Cash in hand943980
1,078,4371,085,931
The Group invested its temporary available free cash reserves in quoted debt instruments and are treated as financial assets at FVOCI in accordance with IFRS 9 and in line with the Group\u2019s declared policy for utilisation and investment of liquidity reserves, as disclosed in Note 14. ", "dimensions": { "concept": "ifrs-full:DisclosureOfCashAndCashEquivalentsExplanatory", "language": "en", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "mapping_8015": { "value": "19. SHARE CAPITAL AND RESERVES
2025 2024
\u20ac\u20ac
Share Capital
Authorised:330,000,000 Ordinary shares of \u20ac0.20 each66,000,000
66,000,000
Issued and fully paid:249,179,183 Ordinary shares of \u20ac0.20 each49,835,83749,835,837
The issued share capital of the Group currently consists of 249,179,183 ordinary shares of \u20ac0.20 each. The authorised share capital currently consists of 330,000,000 ordinary shares of \u20ac0.20 each. As at 31 December 2025, the market price of the ordinary shares on the Malta Stock Exchange (\u201cMSE\u201d) was \u20ac0.186 each (based on the last trading of shares prior to the end of the year). The trading volume of the Group\u2019s shares on MSE is very low compared to the total value of outstanding shares, the free float and the total asset value, and therefore it is considered non-representative as an indication of fair market value of the Group. The Ordinary shares of the Group participate equally in any payment of dividends or any distribution and return of capital and carry identical rights and voting rights, as specified in the Memorandum and Articles of Association the Group. The following describes the nature and purpose of each reserve within equity:
Share premium The amount subscribed for share capital in excess of par value.
General reserve The amount of the issued share capital reduction after the restructuring of the Group completed in 2019, retained in the Group, not distributed to theshareholders.
Other reserves Non-distributable reserves for fair value revaluation on theoffice building and financial assets at FVOCI
Retained earnings All other net earnings or profit after accounting for dividends.
During the year ended 31 December 2025, gross dividends amounting to \u20ac220,000 (0.08829 euro cents per ordinary share) (2024: \u20ac200,000) were declared, while actual net dividends paid during the year amounted to \u20ac209,000 (2024: \u20ac200,000). ", "dimensions": { "concept": "ifrs-full:DisclosureOfShareCapitalReservesAndOtherEquityInterestExplanatory", "language": "en", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "mapping_7988": { "value": "20. BORROWINGS
20252024
\u20ac\u20ac
Non-current
Bank borrowings (i)8,903,8378,898,957
Bonds payable (ii)9,682,4629,647,005
18,586,29918,545,962
Current
Bank borrowings (i)871,850590,709
(i) The Company obtained a bank loan under the MDB-guarantee scheme provided to support businesses following the Covid-19 outbreak, which had in the previous periods a subsidised interest rate, in compliance with the MDB loan programme and relevant EU regulations. Currently, effective interest rates are at market terms. The loan is being amortised as planned. During 2022, the Company secured a long-term loan facility of \u20ac14,500,000, structured to reflect the Company\u2019s financing needs, and to secure the necessary long-term funding for its development and acquisitions programme. This loan facility is repayable over a period of 15 years, and is structured into specific, dedicated utilisation purposes. The facility is drawdown in relation with the executed development and regeneration works. During 2023, the Group has also secured a short-term revolving overdraft credit facility, which is currently unutilised. During the year 2025, the Company continued utilising the facility, as per planned schedule, while significant portion of the development loan facility remain unutilised. The long-term development bank loan facility is covered under one overall agreement with the bank, but structured to reflect the designated use of funds. Repayment terms, applicable interest and actual repayment amounts are defined accordingly. Repayment amounts are based on a \u201cscaletta repayment schedule\u201d, reflecting the Group\u2019s development process, following a 2-year moratorium period and are being repaid in monthly fixed instalments, inclusive of interest. Within the repayment period, the monthly instalments will be gradually increased, and remain inclusive of interest, until the full final repayment. The Group\u2019s long-term debt repayment obligations and other relevant parameters are presented in greater details in the Prospectus dated 4 th October 2024. Further details on the loan repayment timing and expected cash-flows are presented in Note 26. The loan facilities are secured by a general hypothec over the Company\u2019s assets, and special hypothecs over the properties developed under the long-term development facility. The applicable costs of the development banking facilities (e.g. processing fees, commitment fees, legal and professional fees directly related to the facility), were partially recognised in the Statement of Comprehensive Income during the year, in line with the applicable accounting standards, and partially capitalised on Investment Properties, as considered capital expenditure related to development of the Company\u2019s properties. The amount of borrowing costs capitalised during the year ended 31 December 2025 was \u20ac317,228 (2024: \u20ac280,976). The carrying amounts of the bank borrowings are reasonable approximations of their fair value. The loan repayments during the year amounted to \u20ac571,048 (2024: \u20ac397,832). Total interest expense on bank loans recognised in the profit or loss are disclosed in Note 8 to these financial statements. (ii) On 1 November 2024, the Company successfully issued a \u20ac10,000,000, 5.2% redeemable secured bonds 2030-2034 with a nominal exchange value of \u20ac100 per bond. The bonds were fully subscribed and will mature on 25 October 2034 with interest payments due annually, every 25th of October until maturity. The amount presented in the statement of financial position is net of unamortised bond issue costs amounting to \u20ac317,538 (2024: \u20ac352,995). Interest expense on bonds for the year are as disclosed in Note 8 to these consolidated financial statements. Accrued interest payable as at 31 December 2025 is disclosed in Note 23 to these consolidated financial statements. The fair value of the bonds for every \u20ac100 bond as at 31 December 2025 was \u20ac100.20", "dimensions": { "concept": "ifrs-full:DisclosureOfBorrowingsExplanatory", "language": "en", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "mapping_7989": { "value": "21. LEASE LIABILITIES The Group leases properties which are utilised in the operations or operated as investment properties, under agreements of between ten to twenty-five years, in some cases with options to extend. The lease contracts have various escalation clauses. On renewal, the terms of the leases are renegotiated.
20252024
\u20ac\u20ac
Minimum lease payments
Due after more than five years1,329,5651,406,615
Due after one year but within five years504,827 716,617
Due within one year353,474309,801
Total gross lease liabilities2,187,8662,433,033
Discounting(762,409)(837,648)
Present value of lease liabilities1,425,4571,595,385
Movements in lease liabilities during the year are as follows:
20252024
\u20ac\u20ac
At 1 January1,595,385286,791
Additions68,9021,403,417
Interest expense82,52974,176
Gross lease payments(321,359)(168,999)
At 31 December1,425,4571,595,385
20252024
\u20ac\u20ac
Non-current portion1,134,0441,361,732
Current portion291,413233,653
At 31 December1,425,4571,595,385
The following were the amounts recognised in profit or loss relating to leases:
20252024
\u20ac\u20ac
Depreciation324,498197,351
Interest expense 82,52974,176
407,027271,527
", "dimensions": { "concept": "ifrs-full:DisclosureOfLeasesExplanatory", "language": "en", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "mapping_8005": { "value": "23. TRADE AND OTHER PAYABLES
20252024
\u20ac\u20ac
Non-current
Deposits on lease agreements137,030122,729
Current
Trade payables (i)308,949159,922
Accruals(ii)546,4971,222,594
Deposits on properties9,4493,487
Bond interest payable89,61383,778
Dividendspayable19,115155
Contract liabilities15,80713,040
Other payables53,469247,819
1,042,8991,730,795
i) Trade payables are non-interest bearing and are normally on 30 to 60 day term. (ii) These accruals include amounts due to a related party amounting to \u20ac272,252 (2024: \u20ac910,349). The Group\u2019s exposure to liquidity risk relating to trade and other payables is disclosed in Note 26. ", "dimensions": { "concept": "ifrs-full:DisclosureOfTradeAndOtherPayablesExplanatory", "language": "en", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "mapping_7934": { "value": "24. RELATED PARTY TRANSACTIONS AND DISCLOSURES The Group has related party relationships with some of its investors and companies over which the Directors exercise significant influence. Transactions are carried out with related parties on a regular basis and in the ordinary course of the business. In the opinion of the Directors, there is no ultimate controlling party of the Group, since no shareholder of VBL Plc has more than 25% of voting rights. During the year ended 31 December 2025, transactions related to VBLM Limited are included in the related party transactions as detailed below. During the year, the Group entered into transactions with related parties as set below.
20252024
\u20ac\u20ac
Capitalised property development expenses-VBLM544,504757,762
Management fees expenses-VBLM181,501252,587
Directors travel reimbursement1,3332,277
", "dimensions": { "concept": "ifrs-full:DisclosureOfRelatedPartyExplanatory", "language": "en", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "mapping_8004": { "value": "25. EARNINGS PER SHARE Earnings per share is calculated by dividing the profit attributable to equity holders of the Group by the weighted average number of ordinary shares in issue during the year.
20252024
Profit attributable to equity holders of the Group\u20ac1,573,905\u20ac2,482,018
Weighted average number of shares in issue249,179,183249,179,183
Basic and diluted earnings per share\u20ac0.0063\u20ac0.0100
The Group has no instruments or arrangements which give rise to potential ordinary shares and accordingly diluted earnings per share is equivalent to basic earnings per share. ", "dimensions": { "concept": "ifrs-full:DisclosureOfEarningsPerShareExplanatory", "language": "en", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "mapping_8122": { "value": "26. FINANCIAL RISK MANAGEMENT The Group's activities potentially expose it to a variety of financial risks such as market risk (including equity price change risk and interest rate risk), credit risk, and liquidity risk. The Group's overall risk management program focuses on the unpredictability of financial markets and seeks to minimise potential adverse effects on the Group 's financial performance. The Group did not make use of derivative financial instruments to hedge certain risk exposure during the current and preceding financial periods. The Group uses different methods to measure different types of risk to which it is exposed. These methods include sensitivity analysis in the case of variable interest rate risks or applying fixed interest rates, and ageing analysis for credit risk. Risk management is carried out by senior finance executive (\u2018finance\u2019) under policies approved by the Directors. These policies include identification and analysis of the Group and appropriate procedures, controls and risk limits. 26. FINANCIAL RISK MANAGEMENT - continued Market risk Market risk is the risk that changes in market prices (e.g. foreign exchange rates, interest rates and equity prices) will affect the Group\u2019s income or the value of its holdings of financial instruments. The Group\u2019s currency of operation is Euro, all revenues and payables are defined, contracted and accounted in Euro. The Group is exposed to changes in equity prices and interest rates. Equity price change risk The Group is exposed to changes in equity prices (\u201cprice risk\") in respect of its listed shares, which is not a Group-specific risk, but it is a risk of the equity investors and shareholders. Therefore, the price risk is a relevant risk from the point of view of the Group\u2019s shareholders (investors), holding the listed securities. The price risk is significantly dependent on the local and global stock market\u2019s specifics, the equity trading trends, actual trading volumes and other specifics of the equity market at the Malta Stock Exchange (MSE), and it is less dependent on the Group\u2019s actual financial or market performance. It is to be noted that the average trading volume of Group\u2019s shares on the stock exchange is very low, both compared to the Group\u2019s total equity and property value. During the reporting year 2025, the Group\u2019s revenues, overall financial performance and asset values have improved significantly, while the share prices have decreased amidst low trading volume compared to the Group\u2019s actual book value. Therefore, the actual changes in equity prices are considered not representative of the Group\u2019s actual market or asset value. The investments in listed equity securities are considered as long-term strategic investment and are regulated and monitored by local authorities, including MFSA, and EU level regulation and authorities. The Directors continuously monitor the stock prices of the Group and assess the impact of potential stock price changes to the Group. While the experienced trading volumes and cumulative trade in the Group\u2019s shares during the year were very low compared to the Group\u2019s book value, the following table illustrates the theoretical sensitivity and change of market capitalisation to a possible change in market price.
ChangeIncrease/(decrease)in profitfor the yearIncrease/(decrease)in equity
\u20ac\u20ac\u20ac
2025(0.04)-(9,967,167)
2024 (0.04)-(9,967,167)
Credit risk Financial assets which potentially subject the Group to concentrations of credit risk consist principally of cash at bank and receivables. The Group's cash is placed with quality financial institutions as well as it limits the amount of credit exposure with any one financial institution, to the extent possible. The Group has appropriate policies to ensure that sales of properties and provision of services are made to customers with appropriate credit history, or where this is not possible or practical, alternative risk mitigating practices are applied. In this respect, credit risk with respect to receivables is monitored continuously and the Group places a specific provision on any debt on which there is doubt of recoverability. Bad debts are therefore negligible, and, in this respect, the Group has no significant concentration of credit risk. The Group\u2019s calculated expected credit losses is immaterial.
20252024
\u20ac\u20ac
Financial assets
Financial assets at FVOCI6,044,3449,105,174
Loan receivable 132,478126,228
Trade and other receivables 883,485540,117
Cash at banks1,077,4941,084,951
Liquidity risk Liquidity risk is the risk that the Group will not be able to meet its financial obligations as they fall due. The Group's approach to managing liquidity is to ensure, as far as possible, that it will always have sufficient liquidity by maintaining adequate reserves and banking facilities to meet its abilities when due, under both normal and stressed conditions. The Directors do not foresee and are unaware of any circumstances whereby the Group would not honour its commitment. Unused borrowing facilities as at 31 December were as follows:
2025 2024
\u20ac \u20ac
Bank overdrafts 500,000 500,000
Bank borrowings 4,871,896 5,729,018
5,371,896 6,229,018
Within oneyearOne to fiveyearsMore thanfive years
\u20ac\u20ac\u20ac
2024
Financial liabilities:
Bonds and interest payable425,3642,085,42412,605,434
Bank borrowings1,019,7183,228,6749,002,894
Lease liabilities309,801716,617 1,406,615
Trade and other payables1,382,516--
3,137,3996,030,71523,014,943
Prudent liquidity risk management implies maintaining sufficient cash and cash equivalents, the availability of funding through an adequate amount of credit facilities and the ability to close out market positions. The timing and volume of the loan repayment cashflows are dependent on the actual timing of the loan utilisation, drawdowns and other relevant conditions. The options are considered in the Group\u2019s presented financial projections and regularly updated to reflect the facts. The cash-flows related to the bond issue are also detailed in further detail in the Prospectus dated 4 th October 2024. Capital risk management The Group\u2019s objectives when managing capital are to safeguard its ability to continue as a going concern and to maximise the return to stakeholders through the optimisation of the debt and equity balance. The capital structure of the Group consists mainly of cash and cash equivalents as disclosed in Note 18, items presented within equity in the statement of financial position and borrowings as disclosed in Note 19 and Note 20, respectively. The Group's Directors manage the Group\u2019s capital structure and make adjustments to it, in the light of changes in economic conditions and according to the originally disclosed strategy. The Group\u2019s capital structure is reviewed on an ongoing basis. Based on recommendations of the Directors, the Group aims to balance its overall capital structure through the payments of dividends, new share issues as well as the issue of new debt or the redemption of existing debt. The Group monitors its capital structure and targets to maintain at all times a healthy gearing ratio. This ratio is calculated as total net borrowings divided by total capital. The Group considers total capital to be equity and total net borrowings, adjusted for deferred tax liabilities. As part of this process, the Group has declared and continues to explore and perform a comprehensive evaluation of strategic financing options and initiatives to unlock and maximise shareholder value going forward. This ongoing process includes considering a number of possible strategic options, including the possibility of raising further capital from strategic and/or financial investors or carrying out equity transactions, including options which might result in a change to the shareholding or capital structure of the Group. Any decisions on the selection of specific strategic options are made regularly and adequately communicated to the market, under the applicable rules and regulations. The Group's overall business and development strategy remains unchanged from the prior year. ", "dimensions": { "concept": "ifrs-full:DisclosureOfFinancialRiskManagementExplanatory", "language": "en", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "mapping_7992": { "value": "26. FINANCIAL RISK MANAGEMENT - continued Credit risk Financial assets which potentially subject the Group to concentrations of credit risk consist principally of cash at bank and receivables. The Group's cash is placed with quality financial institutions as well as it limits the amount of credit exposure with any one financial institution, to the extent possible. The Group has appropriate policies to ensure that sales of properties and provision of services are made to customers with appropriate credit history, or where this is not possible or practical, alternative risk mitigating practices are applied. In this respect, credit risk with respect to receivables is monitored continuously and the Group places a specific provision on any debt on which there is doubt of recoverability. Bad debts are therefore negligible, and, in this respect, the Group has no significant concentration of credit risk. The Group\u2019s calculated expected credit losses is immaterial.
20252024
\u20ac\u20ac
Financial assets
Financial assets at FVOCI6,044,3449,105,174
Loan receivable 132,478126,228
Trade and other receivables 883,485540,117
Cash at banks1,077,4941,084,951
", "dimensions": { "concept": "ifrs-full:DisclosureOfCreditRiskExplanatory", "language": "en", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "mapping_7991": { "value": "26. FINANCIAL RISK MANAGEMENT - continued Capital risk management The Group\u2019s objectives when managing capital are to safeguard its ability to continue as a going concern and to maximise the return to stakeholders through the optimisation of the debt and equity balance. The capital structure of the Group consists mainly of cash and cash equivalents as disclosed in Note 18, items presented within equity in the statement of financial position and borrowings as disclosed in Note 19 and Note 20, respectively. The Group's Directors manage the Group\u2019s capital structure and make adjustments to it, in the light of changes in economic conditions and according to the originally disclosed strategy. The Group\u2019s capital structure is reviewed on an ongoing basis. Based on recommendations of the Directors, the Group aims to balance its overall capital structure through the payments of dividends, new share issues as well as the issue of new debt or the redemption of existing debt. The Group monitors its capital structure and targets to maintain at all times a healthy gearing ratio. This ratio is calculated as total net borrowings divided by total capital. The Group considers total capital to be equity and total net borrowings, adjusted for deferred tax liabilities. As part of this process, the Group has declared and continues to explore and perform a comprehensive evaluation of strategic financing options and initiatives to unlock and maximise shareholder value going forward. This ongoing process includes considering a number of possible strategic options, including the possibility of raising further capital from strategic and/or financial investors or carrying out equity transactions, including options which might result in a change to the shareholding or capital structure of the Group. Any decisions on the selection of specific strategic options are made regularly and adequately communicated to the market, under the applicable rules and regulations. The Group's overall business and development strategy remains unchanged from the prior year. ", "dimensions": { "concept": "ifrs-full:DisclosureOfObjectivesPoliciesAndProcessesForManagingCapitalExplanatory", "language": "en", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "mapping_7970": { "value": "26. FINANCIAL RISK MANAGEMENT - continued Liquidity risk Liquidity risk is the risk that the Group will not be able to meet its financial obligations as they fall due. The Group's approach to managing liquidity is to ensure, as far as possible, that it will always have sufficient liquidity by maintaining adequate reserves and banking facilities to meet its abilities when due, under both normal and stressed conditions. The Directors do not foresee and are unaware of any circumstances whereby the Group would not honour its commitment. Unused borrowing facilities as at 31 December were as follows:
2025 2024
\u20ac \u20ac
Bank overdrafts 500,000 500,000
Bank borrowings 4,871,896 5,729,018
5,371,896 6,229,018
Within oneyearOne to fiveyearsMore thanfive years
\u20ac\u20ac\u20ac
2024
Financial liabilities:
Bonds and interest payable425,3642,085,42412,605,434
Bank borrowings1,019,7183,228,6749,002,894
Lease liabilities309,801716,617 1,406,615
Trade and other payables1,382,516--
3,137,3996,030,71523,014,943
Prudent liquidity risk management implies maintaining sufficient cash and cash equivalents, the availability of funding through an adequate amount of credit facilities and the ability to close out market positions. The timing and volume of the loan repayment cashflows are dependent on the actual timing of the loan utilisation, drawdowns and other relevant conditions. The options are considered in the Group\u2019s presented financial projections and regularly updated to reflect the facts. The cash-flows related to the bond issue are also detailed in further detail in the Prospectus dated 4th October 2024. ", "dimensions": { "concept": "ifrs-full:DisclosureOfLiquidityRiskExplanatory", "language": "en", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "mapping_7935": { "value": "26. FINANCIAL RISK MANAGEMENT - continued Market risk Market risk is the risk that changes in market prices (e.g. foreign exchange rates, interest rates and equity prices) will affect the Group\u2019s income or the value of its holdings of financial instruments. The Group\u2019s currency of operation is Euro, all revenues and payables are defined, contracted and accounted in Euro. The Group is exposed to changes in equity prices and interest rates. Equity price change risk The Group is exposed to changes in equity prices (\u201cprice risk\") in respect of its listed shares, which is not a Group-specific risk, but it is a risk of the equity investors and shareholders. Therefore, the price risk is a relevant risk from the point of view of the Group\u2019s shareholders (investors), holding the listed securities. The price risk is significantly dependent on the local and global stock market\u2019s specifics, the equity trading trends, actual trading volumes and other specifics of the equity market at the Malta Stock Exchange (MSE), and it is less dependent on the Group\u2019s actual financial or market performance. It is to be noted that the average trading volume of Group\u2019s shares on the stock exchange is very low, both compared to the Group\u2019s total equity and property value. During the reporting year 2025, the Group\u2019s revenues, overall financial performance and asset values have improved significantly, while the share prices have decreased amidst low trading volume compared to the Group\u2019s actual book value. Therefore, the actual changes in equity prices are considered not representative of the Group\u2019s actual market or asset value. The investments in listed equity securities are considered as long-term strategic investment and are regulated and monitored by local authorities, including MFSA, and EU level regulation and authorities. The Directors continuously monitor the stock prices of the Group and assess the impact of potential stock price changes to the Group. While the experienced trading volumes and cumulative trade in the Group\u2019s shares during the year were very low compared to the Group\u2019s book value, the following table illustrates the theoretical sensitivity and change of market capitalisation to a possible change in market price.
ChangeIncrease/(decrease)in profitfor the yearIncrease/(decrease)in equity
\u20ac\u20ac\u20ac
2025(0.04)-(9,967,167)
2024 (0.04)-(9,967,167)
Interest rate risk The interest rate risk is the risk that the fair value of future cash flows of a financial instrument will fluctuate due to changes in market interest rates. The Group is exposed to interest rate risk through its financial assets at FVOCI, and some of its long-term borrowings. Financial assets at FVOCI are investments in fixed- rate bonds which are exposed to changes in fair value as a result of movements in market interest rates, while the contractual cash flows remain fixed over the life of the instruments. An increase in market interest rates would result in a decrease in the fair value of these investments, whilst a decrease would result in an increase in fair value. During the reporting year, the Group\u2019s long-term borrowings have been serviced at fixed interest rate, in line with the negotiated terms with the lenders. This has reduced the Group\u2019s exposure to short-term market volatilities and interest rate volatility and has secured a stable and predictable environment for the Group\u2019s debt service obligations. A decrease in market interest rates would result in a FINANCIAL RISK MANAGEMENT - continued Market risk - continued Interest rate risk - continued decrease in the fair value of these long-term borrowings and whilst an increase would result in an increase in fair value. Management considers the potential impact on profit or loss of a defined interest rate shift that is reasonably possible at the end of the reporting period to be immaterial.
Within one yearOne to five yearsMore than five years
\u20ac\u20ac\u20ac
2025
Financial liabilities:
Bonds and interest payable425,3642,085,42412,084,435
Bank borrowings1,171,1085,722,5155,368,222
Lease liabilities353,474504,8271,329,565
Trade and other payables855,446 --
2,805,3928,312,76618,782,222
", "dimensions": { "concept": "ifrs-full:DisclosureOfMarketRiskExplanatory", "language": "en", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "mapping_7939": { "value": "27. RECONCILIATION OF LIABILITIES ARISING FROM FINANCING ACTIVITIES The table below details the changes in the Group\u2019s liabilities arising from financing activities, including both cash and non-cash changes. Liabilities arising from financing activities are those for which cash flows were, or future cash flows will be, classified in the Group\u2019s statement of cash flows as cash flows from financing activities.
Bonds payable(Note 20)Bank borrowings (Note 20)Leaseliabilities(Note 21)Total
\u20ac\u20ac\u20ac\u20ac
Balance at 01 January 2025 9,647,0059,489,6661,595,38520,732,056
Drawdowns -857,071-857,071
Repayments -(571,048)(238,830)(809,878)
Interest paid -(449,657)(82,529)(532,186)
Non-cash transactions:
Additions --68,90268,902
Interest expense -176,77182,529259,300
Amortisation of bond issuance costs 35,457--35,457
Capitalised borrowing costs -317,228-317,228
Other movements -(44,344)-(44,344)
Balance at 31 December 20259,682,4629,775,6871,425,45720,883,606
Bonds payable(Note 20)Bank borrowings (Note 20)Leaseliabilities(Note 21)Total
\u20ac\u20ac\u20ac\u20ac
Balance at 01 January 2024 -8,270,631286,7918,557,422
Drawdowns -1,563,818-1,563,818
Repayments -(397,832)(94,823)(492,655)
Interest paid -(412,855)(74,176)(487,031)
Proceeds from issuance net of bond issue costs 9,640,997--9,640,997
Non-cash transactions:
Additions --1,403,4171,403,417
Interest expense-163,24874,176237,424
Amortisation of bond issuance costs 6,008--6,008
Capitalised borrowing costs -280,976-280,976
Other movements -21,680-21,680
Balance at 31 December 20249,647,0059,489,6661,595,38520,732,056
", "dimensions": { "concept": "ifrs-full:DisclosureOfReconciliationOfLiabilitiesArisingFromFinancingActivitiesExplanatory", "language": "en", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "mapping_8144": { "value": "28. FAIR VALUE MEASUREMENT Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. For financial reporting purposes, fair value measurements are categorised into Level 1, 2 or 3 based on the degree to which the inputs to the fair value measurements are observable and the significance of the inputs to the fair value measurement in its entirety, which are described as follows: - Level 1: Quoted prices (unadjusted) in active markets for identical assets or liabilities that the entity can access at the measurement date; - Level 2: Inputs, other than quoted prices included within Level 1, that are observable for the asset or liability, either directly (i.e. as prices) or indirectly (i.e. derived from prices); and - Level 3: Unobservable inputs for the asset or liability. There were no transfers between levels during the year. The valuation of investment properties at fair value is categorised as Level 3. Details of the valuation techniques are disclosed in Note 12 to these consolidated financial statements. The Group\u2019s financial assets measured at fair value comprise quoted debt instruments classified as financial assets at FVOCI, as disclosed in Note 14. These instruments are valued using quoted prices in active markets and are therefore categorised as level 1. Sensitivity analysis The fair value of the Silver Horse 2 property (\u201cSHB2\u201d) has been determined \u2013 among other methods - by using a discounted cash flow (DCF) model. The valuation incorporates significant unobservable inputs, primarily the discount rate and the long-term growth rate, which reflect market participants\u2019 expectations regarding the risk profile and future performance of the property. As these inputs are not directly observable in the market, changes in the assumptions applied could have a material impact on the estimated fair value. The discount rate represents the rate of return that market participants would require for an investment with risk characteristics comparable to those of the property. An increase in the discount rate would reduce the present value of the projected future cash flows and therefore decrease the estimated fair value of the property. Conversely, a decrease in the discount rate would increase the present value of projected cash flows and result in a higher fair value. The long-term growth rate represents the rate at which the property\u2019s net operating income is expected to grow over the projection period and into perpetuity. An increase in the growth rate assumption would generally result in a higher estimated fair value, while a decrease in the growth rate would lead to a lower estimated fair value. To illustrate the sensitivity of the valuation to these key assumptions, the table below presents the estimated impact on the fair value of the SHB2 property resulting from a 0.5% change in each significant unobservable input, with all other assumptions held constant. It can be summarised that the sensitivity variations of the significant unobservable inputs, performed along the above-described assumptions, have an impact on the overall estimated market valuation of the asset of below 10%. Sensitivity analysis - continued The level 3 unobservable inputs and sensitivity are as follows:
Property Unobservable inputSensitivity
Silver Horse Block Phase 2 Discount rate A 0.5% change in discount rate would increase/ decrease the fair value by approximately \u20ac1.1 million (4%)
Growth rate A 0.5% change in growth rate would increase/ decrease the fair value by approximately \u20ac1.4 million (5%)
", "dimensions": { "concept": "ifrs-full:DisclosureOfFairValueMeasurementExplanatory", "language": "en", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "mapping_7997": { "value": "29. CAPITAL COMMITMENTS The Group\u2019s investment and development programme has been regularly communicated to the market and updated though regular company announcements and other communication. Nevertheless, the Group\u2019s mid-term projected capital commitments remain largely unchanged. These have been detailed in the Group\u2019s Listing Prospectus under the chapter of Prospective Financial Information, issued in August 2021 and subsequently detailed in the Group\u2019s bond prospectus published in October 2024 and reflects the Directors expectation with respect to the future operations and project development of the Group. Regular updates and adjustments to these plans are performed and communicated to align the plans to the market reality and actual conditions, while the overall strategy remains unchanged. The basis of preparation and key underlying assumptions, financial and development plans, are also detailed in the prospectus, monitored and updated regularly. As of the end of the reporting period, these are materially unchanged and implemented along the originally projected timeframes. ", "dimensions": { "concept": "ifrs-full:DisclosureOfCommitmentsExplanatory", "language": "en", "entity": "scheme:485100EOK8ED6FMU4R55", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } } } }