{ "documentInfo": { "documentType": "https://xbrl.org/2021/xbrl-json", "features": { "xbrl:canonicalValues": true }, "namespaces": { "LOT": "http://lotusbakeries.com/2022-12-31", "ifrs-full": "http://xbrl.ifrs.org/taxonomy/2021-03-24/ifrs-full", "iso4217": "http://www.xbrl.org/2003/iso4217", "scheme": "http://standards.iso.org/iso/17442", "xbrl": "https://xbrl.org/2021", "xbrli": "http://www.xbrl.org/2003/instance" }, "taxonomy": [ "http://lotusbakeries.com/2022-12-31/5493004C0K34IFI67I03-2022-12-31.xsd" ] }, "facts": { "f62355": { "value": "Lotus Bakeries NV", "dimensions": { "concept": "ifrs-full:NameOfReportingEntityOrOtherMeansOfIdentification", "language": "en", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "pp-value-1-1": { "value": "Lotus Bakeries NV1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES1.1 Basis of presentation The consolidated financial statements of the Group have been prepared in accordance with the International Financial Reporting Standards (IFRS), as adopted by the European Union (EU). These consolidated financial statements are presented in thousands of EUR and present the financial situation as at December 31, 2022. Due to rounding, numbers presented throughout these consolidated financial statements may not add up precisely to the totals provided and percentages may not precisely reflect the absolute figures.The accounting principles have been consistently applied to all periods presented and are consistent with those applied in the audited consolidated financial statements for the year ended December 31, 2021 of the Group.The consolidated financial statements have been prepared based on the historical cost methodology, except for certain financial instruments for which the fair value is used.", "dimensions": { "concept": "ifrs-full:DisclosureOfGeneralInformationAboutFinancialStatementsExplanatory", "language": "en", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "f62365": { "value": " \u2018naamloze vennootschap\u2019", "dimensions": { "concept": "ifrs-full:LegalFormOfEntity", "language": "en", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "pp-value-3-1": { "value": "Gentstraat 1, 9971 Lembeke, Belgium.", "dimensions": { "concept": "ifrs-full:AddressOfRegisteredOfficeOfEntity", "language": "en", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "pp-value-3-2": { "value": "Gentstraat 1, 9971 Lembeke, Belgium.", "dimensions": { "concept": "ifrs-full:PrincipalPlaceOfBusiness", "language": "en", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "pp-value-5-1": { "value": "Lotus Bakeries is active worldwide in the indulgent and natural snacking segment with the Lotus, Lotus\u00ae Biscoff\u00ae, n\u0101kd, TREK, BEAR, Kiddylicious, Dinosaurus, Peijnenburg, Annas and Peter\u2019s Yard brands, among others.", "dimensions": { "concept": "ifrs-full:DescriptionOfNatureOfEntitysOperationsAndPrincipalActivities", "language": "en", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "f62525": { "value": " Belgium,", "dimensions": { "concept": "ifrs-full:DomicileOfEntity", "language": "en", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "f62526": { "value": " Belgium,", "dimensions": { "concept": "ifrs-full:CountryOfIncorporation", "language": "en", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "pp-value-8-1": { "value": "These consolidated financial statements have been prepared in accordance with the International Financial Reporting Standards (IFRS) as adopted for application within the European Union with comparative figures for 2021. ", "dimensions": { "concept": "ifrs-full:StatementOfIFRSCompliance", "language": "en", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "f63753": { "value": "877451000", "decimals": -3, "dimensions": { "concept": "ifrs-full:Revenue", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f63756": { "value": "750251000", "decimals": -3, "dimensions": { "concept": "ifrs-full:Revenue", "entity": "scheme:5493004C0K34IFI67I03", "period": "2021-01-01T00:00:00/2022-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f63761": { "value": "311310000", "decimals": -3, "dimensions": { "concept": "LOT:RawMaterialsAndConsumablesUsedAndChangesInInventoriesOfFinishedGoodsAndWorkInProgress", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f63765": { "value": "250617000", "decimals": -3, "dimensions": { "concept": "LOT:RawMaterialsAndConsumablesUsedAndChangesInInventoriesOfFinishedGoodsAndWorkInProgress", "entity": "scheme:5493004C0K34IFI67I03", "period": "2021-01-01T00:00:00/2022-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f63770": { "value": "218277000", "decimals": -3, "dimensions": { "concept": "ifrs-full:ServicesExpense", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f63773": { "value": "192231000", "decimals": -3, "dimensions": { "concept": "ifrs-full:ServicesExpense", "entity": "scheme:5493004C0K34IFI67I03", "period": "2021-01-01T00:00:00/2022-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f63778": { "value": "173618000", "decimals": -3, "dimensions": { "concept": "ifrs-full:EmployeeBenefitsExpense", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f63781": { "value": "152857000", "decimals": -3, "dimensions": { "concept": "ifrs-full:EmployeeBenefitsExpense", "entity": "scheme:5493004C0K34IFI67I03", "period": "2021-01-01T00:00:00/2022-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f63786": { "value": "25245000", "decimals": -3, "dimensions": { "concept": "ifrs-full:DepreciationAndAmortisationExpense", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f63789": { "value": "23115000", "decimals": -3, "dimensions": { "concept": "ifrs-full:DepreciationAndAmortisationExpense", "entity": "scheme:5493004C0K34IFI67I03", "period": "2021-01-01T00:00:00/2022-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f63795": { "value": "3992000", "decimals": -3, "dimensions": { "concept": "LOT:ImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLossTradeReceivablesAndInventories", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f63798": { "value": "3384000", "decimals": -3, "dimensions": { "concept": "LOT:ImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLossTradeReceivablesAndInventories", "entity": "scheme:5493004C0K34IFI67I03", "period": "2021-01-01T00:00:00/2022-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f63803": { "value": "8534000", "decimals": -3, "dimensions": { "concept": "ifrs-full:MiscellaneousOtherOperatingExpense", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f63806": { "value": "8253000", "decimals": -3, "dimensions": { "concept": "ifrs-full:MiscellaneousOtherOperatingExpense", "entity": "scheme:5493004C0K34IFI67I03", "period": "2021-01-01T00:00:00/2022-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f63811": { "value": "3711000", "decimals": -3, "dimensions": { "concept": "ifrs-full:MiscellaneousOtherOperatingIncome", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f63814": { "value": "4011000", "decimals": -3, "dimensions": { "concept": "ifrs-full:MiscellaneousOtherOperatingIncome", "entity": "scheme:5493004C0K34IFI67I03", "period": "2021-01-01T00:00:00/2022-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f63819": { "value": "140188000", "decimals": -3, "dimensions": { "concept": "LOT:ProfitLossFromOperatingActivitiesRecurring", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f63822": { "value": "123805000", "decimals": -3, "dimensions": { "concept": "LOT:ProfitLossFromOperatingActivitiesRecurring", "entity": "scheme:5493004C0K34IFI67I03", "period": "2021-01-01T00:00:00/2022-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f63827": { "value": "-3807000", "decimals": -3, "dimensions": { "concept": "LOT:OtherOperatingIncomeExpenseNonRecurring", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f63830": { "value": "-4135000", "decimals": -3, "dimensions": { "concept": "LOT:OtherOperatingIncomeExpenseNonRecurring", "entity": "scheme:5493004C0K34IFI67I03", "period": "2021-01-01T00:00:00/2022-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f63835": { "value": "136381000", "decimals": -3, "dimensions": { "concept": "ifrs-full:ProfitLossFromOperatingActivities", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f63838": { "value": "119670000", "decimals": -3, "dimensions": { "concept": "ifrs-full:ProfitLossFromOperatingActivities", "entity": "scheme:5493004C0K34IFI67I03", "period": "2021-01-01T00:00:00/2022-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f63843": { "value": "-2354000", "decimals": -3, "dimensions": { "concept": "ifrs-full:FinanceIncomeCost", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f63846": { "value": "-2373000", "decimals": -3, "dimensions": { "concept": "ifrs-full:FinanceIncomeCost", "entity": "scheme:5493004C0K34IFI67I03", "period": "2021-01-01T00:00:00/2022-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f63850": { "value": "-2565000", "decimals": -3, "dimensions": { "concept": "ifrs-full:InterestRevenueExpense", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f63853": { "value": "-2766000", "decimals": -3, "dimensions": { "concept": "ifrs-full:InterestRevenueExpense", "entity": "scheme:5493004C0K34IFI67I03", "period": "2021-01-01T00:00:00/2022-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f63858": { "value": "988000", "decimals": -3, "dimensions": { "concept": "ifrs-full:GainsLossesOnExchangeDifferencesOnTranslationRecognisedInProfitOrLoss", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f63861": { "value": "886000", "decimals": -3, "dimensions": { "concept": "ifrs-full:GainsLossesOnExchangeDifferencesOnTranslationRecognisedInProfitOrLoss", "entity": "scheme:5493004C0K34IFI67I03", "period": "2021-01-01T00:00:00/2022-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f63865": { "value": "-777000", "decimals": -3, "dimensions": { "concept": "ifrs-full:OtherFinanceIncomeCost", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f63868": { "value": "-493000", "decimals": -3, "dimensions": { "concept": "ifrs-full:OtherFinanceIncomeCost", "entity": "scheme:5493004C0K34IFI67I03", "period": "2021-01-01T00:00:00/2022-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f63873": { "value": "134027000", "decimals": -3, "dimensions": { "concept": "ifrs-full:ProfitLossBeforeTax", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f63876": { "value": "117297000", "decimals": -3, "dimensions": { "concept": "ifrs-full:ProfitLossBeforeTax", "entity": "scheme:5493004C0K34IFI67I03", "period": "2021-01-01T00:00:00/2022-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f63881": { "value": "30744000", "decimals": -3, "dimensions": { "concept": "ifrs-full:IncomeTaxExpenseContinuingOperations", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f63884": { "value": "26554000", "decimals": -3, "dimensions": { "concept": "ifrs-full:IncomeTaxExpenseContinuingOperations", "entity": "scheme:5493004C0K34IFI67I03", "period": "2021-01-01T00:00:00/2022-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f63889": { "value": "103283000", "decimals": -3, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f63892": { "value": "90743000", "decimals": -3, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:5493004C0K34IFI67I03", "period": "2021-01-01T00:00:00/2022-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f63896": { "value": "43000", "decimals": -3, "dimensions": { "concept": "ifrs-full:ProfitLossAttributableToNoncontrollingInterests", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f63900": { "value": "-24000", "decimals": -3, "dimensions": { "concept": "ifrs-full:ProfitLossAttributableToNoncontrollingInterests", "entity": "scheme:5493004C0K34IFI67I03", "period": "2021-01-01T00:00:00/2022-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f63904": { "value": "103240000", "decimals": -3, "dimensions": { "concept": "ifrs-full:ProfitLossAttributableToOwnersOfParent", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f63907": { "value": "90767000", "decimals": -3, "dimensions": { "concept": "ifrs-full:ProfitLossAttributableToOwnersOfParent", "entity": "scheme:5493004C0K34IFI67I03", "period": "2021-01-01T00:00:00/2022-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f63917": { "value": "820000000", "decimals": -3, "dimensions": { "concept": "ifrs-full:NoncurrentAssets", "entity": "scheme:5493004C0K34IFI67I03", "period": "2023-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f63920": { "value": "690120000", "decimals": -3, "dimensions": { "concept": "ifrs-full:NoncurrentAssets", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f63925": { "value": "225246000", "decimals": -3, "dimensions": { "concept": "ifrs-full:Goodwill", "entity": "scheme:5493004C0K34IFI67I03", "period": "2023-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f63928": { "value": "224846000", "decimals": -3, "dimensions": { "concept": "ifrs-full:Goodwill", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f63933": { "value": "146735000", "decimals": -3, "dimensions": { "concept": "ifrs-full:IntangibleAssetsOtherThanGoodwill", "entity": "scheme:5493004C0K34IFI67I03", "period": "2023-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f63936": { "value": "144745000", "decimals": -3, "dimensions": { "concept": "ifrs-full:IntangibleAssetsOtherThanGoodwill", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f63942": { "value": "428244000", "decimals": -3, "dimensions": { "concept": "ifrs-full:PropertyPlantAndEquipment", "entity": "scheme:5493004C0K34IFI67I03", "period": "2023-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f63945": { "value": "307725000", "decimals": -3, "dimensions": { "concept": "ifrs-full:PropertyPlantAndEquipment", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f63950": { "value": "16806000", "decimals": -3, "dimensions": { "concept": "ifrs-full:NoncurrentInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod", "entity": "scheme:5493004C0K34IFI67I03", "period": "2023-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f63954": { "value": "9755000", "decimals": -3, "dimensions": { "concept": "ifrs-full:NoncurrentInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f63959": { "value": "2212000", "decimals": -3, "dimensions": { "concept": "ifrs-full:DeferredTaxAssets", "entity": "scheme:5493004C0K34IFI67I03", "period": "2023-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f63962": { "value": "2182000", "decimals": -3, "dimensions": { "concept": "ifrs-full:DeferredTaxAssets", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f63968": { "value": "757000", "decimals": -3, "dimensions": { "concept": "ifrs-full:OtherNoncurrentAssets", "entity": "scheme:5493004C0K34IFI67I03", "period": "2023-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f63971": { "value": "867000", "decimals": -3, "dimensions": { "concept": "ifrs-full:OtherNoncurrentAssets", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f63975": { "value": "275036000", "decimals": -3, "dimensions": { "concept": "ifrs-full:CurrentAssets", "entity": "scheme:5493004C0K34IFI67I03", "period": "2023-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f63978": { "value": "301972000", "decimals": -3, "dimensions": { "concept": "ifrs-full:CurrentAssets", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f63984": { "value": "70361000", "decimals": -3, "dimensions": { "concept": "ifrs-full:Inventories", "entity": "scheme:5493004C0K34IFI67I03", "period": "2023-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f63987": { "value": "57901000", "decimals": -3, "dimensions": { "concept": "ifrs-full:Inventories", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f63994": { "value": "120074000", "decimals": -3, "dimensions": { "concept": "ifrs-full:TradeAndOtherCurrentReceivables", "entity": "scheme:5493004C0K34IFI67I03", "period": "2023-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f63997": { "value": "105164000", "decimals": -3, "dimensions": { "concept": "ifrs-full:TradeAndOtherCurrentReceivables", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f64003": { "value": "4947000", "decimals": -3, "dimensions": { "concept": "ifrs-full:CurrentTaxAssetsCurrent", "entity": "scheme:5493004C0K34IFI67I03", "period": "2023-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f64007": { "value": "5276000", "decimals": -3, "dimensions": { "concept": "ifrs-full:CurrentTaxAssetsCurrent", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f64012": { "value": "76435000", "decimals": -3, "dimensions": { "concept": "ifrs-full:CashAndCashEquivalents", "entity": "scheme:5493004C0K34IFI67I03", "period": "2023-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f64015": { "value": "132160000", "decimals": -3, "dimensions": { "concept": "ifrs-full:CashAndCashEquivalents", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f64020": { "value": "3219000", "decimals": -3, "dimensions": { "concept": "ifrs-full:OtherCurrentAssets", "entity": "scheme:5493004C0K34IFI67I03", "period": "2023-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f64024": { "value": "1471000", "decimals": -3, "dimensions": { "concept": "ifrs-full:OtherCurrentAssets", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f64028": { "value": "1095036000", "decimals": -3, "dimensions": { "concept": "ifrs-full:Assets", "entity": "scheme:5493004C0K34IFI67I03", "period": "2023-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f64031": { "value": "992092000", "decimals": -3, "dimensions": { "concept": "ifrs-full:Assets", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f64046": { "value": "-9410000", "decimals": -3, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTax", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f64049": { "value": "21419000", "decimals": -3, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTax", "entity": "scheme:5493004C0K34IFI67I03", "period": "2021-01-01T00:00:00/2022-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f64054": { "value": "-9608000", "decimals": -3, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f64057": { "value": "21160000", "decimals": -3, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation", "entity": "scheme:5493004C0K34IFI67I03", "period": "2021-01-01T00:00:00/2022-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f64061": { "value": "198000", "decimals": -3, "dimensions": { "concept": "ifrs-full:GainsLossesOnCashFlowHedgesNetOfTax", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f64064": { "value": "259000", "decimals": -3, "dimensions": { "concept": "ifrs-full:GainsLossesOnCashFlowHedgesNetOfTax", "entity": "scheme:5493004C0K34IFI67I03", "period": "2021-01-01T00:00:00/2022-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f64068": { "value": "-151000", "decimals": -3, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTax", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f64071": { "value": "-333000", "decimals": -3, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTax", "entity": "scheme:5493004C0K34IFI67I03", "period": "2021-01-01T00:00:00/2022-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f64075": { "value": "-151000", "decimals": -3, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f64078": { "value": "-333000", "decimals": -3, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans", "entity": "scheme:5493004C0K34IFI67I03", "period": "2021-01-01T00:00:00/2022-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f64082": { "value": "-9560000", "decimals": -3, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncome", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f64085": { "value": "21086000", "decimals": -3, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncome", "entity": "scheme:5493004C0K34IFI67I03", "period": "2021-01-01T00:00:00/2022-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f64089": { "value": "93722000", "decimals": -3, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f64092": { "value": "111829000", "decimals": -3, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:5493004C0K34IFI67I03", "period": "2021-01-01T00:00:00/2022-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f64096": { "value": "2000", "decimals": -3, "dimensions": { "concept": "ifrs-full:ComprehensiveIncomeAttributableToNoncontrollingInterests", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f64099": { "value": "33000", "decimals": -3, "dimensions": { "concept": "ifrs-full:ComprehensiveIncomeAttributableToNoncontrollingInterests", "entity": "scheme:5493004C0K34IFI67I03", "period": "2021-01-01T00:00:00/2022-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f64103": { "value": "93720000", "decimals": -3, "dimensions": { "concept": "ifrs-full:ComprehensiveIncomeAttributableToOwnersOfParent", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f64106": { "value": "111796000", "decimals": -3, "dimensions": { "concept": "ifrs-full:ComprehensiveIncomeAttributableToOwnersOfParent", "entity": "scheme:5493004C0K34IFI67I03", "period": "2021-01-01T00:00:00/2022-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f64114": { "value": "810858", "decimals": 0, "dimensions": { "concept": "ifrs-full:WeightedAverageShares", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00", "unit": "xbrli:shares" } }, "f64117": { "value": "811550", "decimals": 0, "dimensions": { "concept": "ifrs-full:WeightedAverageShares", "entity": "scheme:5493004C0K34IFI67I03", "period": "2021-01-01T00:00:00/2022-01-01T00:00:00", "unit": "xbrli:shares" } }, "f64123": { "value": "0.05", "decimals": 2, "dimensions": { "concept": "LOT:BasicEarningsLossPerShareAttributableToNonControllingInterests", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00", "unit": "iso4217:EUR/xbrli:shares" } }, "f64126": { "value": "-0.03", "decimals": 2, "dimensions": { "concept": "LOT:BasicEarningsLossPerShareAttributableToNonControllingInterests", "entity": "scheme:5493004C0K34IFI67I03", "period": "2021-01-01T00:00:00/2022-01-01T00:00:00", "unit": "iso4217:EUR/xbrli:shares" } }, "f64130": { "value": "127.32", "decimals": 2, "dimensions": { "concept": "LOT:BasicEarningsLossPerShareAttributableToOwnersOfParent", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00", "unit": "iso4217:EUR/xbrli:shares" } }, "f64133": { "value": "111.84", "decimals": 2, "dimensions": { "concept": "LOT:BasicEarningsLossPerShareAttributableToOwnersOfParent", "entity": "scheme:5493004C0K34IFI67I03", "period": "2021-01-01T00:00:00/2022-01-01T00:00:00", "unit": "iso4217:EUR/xbrli:shares" } }, "f64139": { "value": "812106", "decimals": 0, "dimensions": { "concept": "ifrs-full:AdjustedWeightedAverageShares", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00", "unit": "xbrli:shares" } }, "f64142": { "value": "813677", "decimals": 0, "dimensions": { "concept": "ifrs-full:AdjustedWeightedAverageShares", "entity": "scheme:5493004C0K34IFI67I03", "period": "2021-01-01T00:00:00/2022-01-01T00:00:00", "unit": "xbrli:shares" } }, "f64148": { "value": "0.05", "decimals": 2, "dimensions": { "concept": "LOT:DilutedEarningsLossPerShareAttributableToNonControllingInterests", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00", "unit": "iso4217:EUR/xbrli:shares" } }, "f64151": { "value": "-0.03", "decimals": 2, "dimensions": { "concept": "LOT:DilutedEarningsLossPerShareAttributableToNonControllingInterests", "entity": "scheme:5493004C0K34IFI67I03", "period": "2021-01-01T00:00:00/2022-01-01T00:00:00", "unit": "iso4217:EUR/xbrli:shares" } }, "f64155": { "value": "127.13", "decimals": 2, "dimensions": { "concept": "LOT:DilutedEarningsLossPerShareAttributableToOwnersOfParent", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00", "unit": "iso4217:EUR/xbrli:shares" } }, "f64158": { "value": "111.55", "decimals": 2, "dimensions": { "concept": "LOT:DilutedEarningsLossPerShareAttributableToOwnersOfParent", "entity": "scheme:5493004C0K34IFI67I03", "period": "2021-01-01T00:00:00/2022-01-01T00:00:00", "unit": "iso4217:EUR/xbrli:shares" } }, "f64168": { "value": "572141000", "decimals": -3, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:5493004C0K34IFI67I03", "period": "2023-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f64171": { "value": "519532000", "decimals": -3, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f64176": { "value": "16388000", "decimals": -3, "dimensions": { "concept": "LOT:IssuedCapitalAndSharePremium", "entity": "scheme:5493004C0K34IFI67I03", "period": "2023-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f64179": { "value": "16388000", "decimals": -3, "dimensions": { "concept": "LOT:IssuedCapitalAndSharePremium", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f64185": { "value": "18976000", "decimals": -3, "dimensions": { "concept": "ifrs-full:TreasuryShares", "entity": "scheme:5493004C0K34IFI67I03", "period": "2023-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f64188": { "value": "9514000", "decimals": -3, "dimensions": { "concept": "ifrs-full:TreasuryShares", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f64192": { "value": "611180000", "decimals": -3, "dimensions": { "concept": "ifrs-full:RetainedEarnings", "entity": "scheme:5493004C0K34IFI67I03", "period": "2023-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f64195": { "value": "539590000", "decimals": -3, "dimensions": { "concept": "ifrs-full:RetainedEarnings", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f64199": { "value": "-36451000", "decimals": -3, "dimensions": { "concept": "ifrs-full:OtherReserves", "entity": "scheme:5493004C0K34IFI67I03", "period": "2023-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f64202": { "value": "-26932000", "decimals": -3, "dimensions": { "concept": "ifrs-full:OtherReserves", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f64206": { "value": "0", "decimals": -3, "dimensions": { "concept": "ifrs-full:NoncontrollingInterests", "entity": "scheme:5493004C0K34IFI67I03", "period": "2023-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f64209": { "value": "0", "decimals": -3, "dimensions": { "concept": "ifrs-full:NoncontrollingInterests", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f64213": { "value": "266186000", "decimals": -3, "dimensions": { "concept": "ifrs-full:NoncurrentLiabilities", "entity": "scheme:5493004C0K34IFI67I03", "period": "2023-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f64216": { "value": "289450000", "decimals": -3, "dimensions": { "concept": "ifrs-full:NoncurrentLiabilities", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f64221": { "value": "196066000", "decimals": -3, "dimensions": { "concept": "ifrs-full:LongtermBorrowings", "entity": "scheme:5493004C0K34IFI67I03", "period": "2023-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f64224": { "value": "218837000", "decimals": -3, "dimensions": { "concept": "ifrs-full:LongtermBorrowings", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f64229": { "value": "63716000", "decimals": -3, "dimensions": { "concept": "ifrs-full:DeferredTaxLiabilities", "entity": "scheme:5493004C0K34IFI67I03", "period": "2023-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f64232": { "value": "64243000", "decimals": -3, "dimensions": { "concept": "ifrs-full:DeferredTaxLiabilities", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f64237": { "value": "4411000", "decimals": -3, "dimensions": { "concept": "ifrs-full:NoncurrentRecognisedLiabilitiesDefinedBenefitPlan", "entity": "scheme:5493004C0K34IFI67I03", "period": "2023-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f64240": { "value": "4020000", "decimals": -3, "dimensions": { "concept": "ifrs-full:NoncurrentRecognisedLiabilitiesDefinedBenefitPlan", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f64244": { "value": "122000", "decimals": -3, "dimensions": { "concept": "ifrs-full:OtherLongtermProvisions", "entity": "scheme:5493004C0K34IFI67I03", "period": "2023-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f64247": { "value": "116000", "decimals": -3, "dimensions": { "concept": "ifrs-full:OtherLongtermProvisions", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f64251": { "value": "107000", "decimals": -3, "dimensions": { "concept": "ifrs-full:NoncurrentDerivativeFinancialLiabilities", "entity": "scheme:5493004C0K34IFI67I03", "period": "2023-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f64254": { "value": "371000", "decimals": -3, "dimensions": { "concept": "ifrs-full:NoncurrentDerivativeFinancialLiabilities", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f64261": { "value": "1765000", "decimals": -3, "dimensions": { "concept": "ifrs-full:OtherNoncurrentLiabilities", "entity": "scheme:5493004C0K34IFI67I03", "period": "2023-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f64264": { "value": "1863000", "decimals": -3, "dimensions": { "concept": "ifrs-full:OtherNoncurrentLiabilities", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f64268": { "value": "256709000", "decimals": -3, "dimensions": { "concept": "ifrs-full:CurrentLiabilities", "entity": "scheme:5493004C0K34IFI67I03", "period": "2023-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f64271": { "value": "183110000", "decimals": -3, "dimensions": { "concept": "ifrs-full:CurrentLiabilities", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f64277": { "value": "70178000", "decimals": -3, "dimensions": { "concept": "ifrs-full:ShorttermBorrowings", "entity": "scheme:5493004C0K34IFI67I03", "period": "2023-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f64280": { "value": "17439000", "decimals": -3, "dimensions": { "concept": "ifrs-full:ShorttermBorrowings", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f64285": { "value": "232000", "decimals": -3, "dimensions": { "concept": "ifrs-full:CurrentRecognisedLiabilitiesDefinedBenefitPlan", "entity": "scheme:5493004C0K34IFI67I03", "period": "2023-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f64288": { "value": "333000", "decimals": -3, "dimensions": { "concept": "ifrs-full:CurrentRecognisedLiabilitiesDefinedBenefitPlan", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f64292": { "value": "21000", "decimals": -3, "dimensions": { "concept": "ifrs-full:OtherShorttermProvisions", "entity": "scheme:5493004C0K34IFI67I03", "period": "2023-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f64295": { "value": "21000", "decimals": -3, "dimensions": { "concept": "ifrs-full:OtherShorttermProvisions", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f64301": { "value": "172995000", "decimals": -3, "dimensions": { "concept": "ifrs-full:TradeAndOtherCurrentPayables", "entity": "scheme:5493004C0K34IFI67I03", "period": "2023-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f64304": { "value": "154377000", "decimals": -3, "dimensions": { "concept": "ifrs-full:TradeAndOtherCurrentPayables", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f64309": { "value": "10367000", "decimals": -3, "dimensions": { "concept": "ifrs-full:CurrentTaxLiabilitiesCurrent", "entity": "scheme:5493004C0K34IFI67I03", "period": "2023-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f64313": { "value": "5850000", "decimals": -3, "dimensions": { "concept": "ifrs-full:CurrentTaxLiabilitiesCurrent", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f64319": { "value": "2917000", "decimals": -3, "dimensions": { "concept": "ifrs-full:OtherCurrentLiabilities", "entity": "scheme:5493004C0K34IFI67I03", "period": "2023-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f64322": { "value": "5091000", "decimals": -3, "dimensions": { "concept": "ifrs-full:OtherCurrentLiabilities", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f64326": { "value": "1095036000", "decimals": -3, "dimensions": { "concept": "ifrs-full:EquityAndLiabilities", "entity": "scheme:5493004C0K34IFI67I03", "period": "2023-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f64329": { "value": "992092000", "decimals": -3, "dimensions": { "concept": "ifrs-full:EquityAndLiabilities", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f64351": { "value": "103283000", "decimals": -3, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f64354": { "value": "90743000", "decimals": -3, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:5493004C0K34IFI67I03", "period": "2021-01-01T00:00:00/2022-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f64358": { "value": "25245000", "decimals": -3, "dimensions": { "concept": "ifrs-full:AdjustmentsForDepreciationAndAmortisationExpense", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f64361": { "value": "23159000", "decimals": -3, "dimensions": { "concept": "ifrs-full:AdjustmentsForDepreciationAndAmortisationExpense", "entity": "scheme:5493004C0K34IFI67I03", "period": "2021-01-01T00:00:00/2022-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f64366": { "value": "3992000", "decimals": -3, "dimensions": { "concept": "LOT:AdjustmentsForImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLossTradeReceivablesAndInventories", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f64369": { "value": "3601000", "decimals": -3, "dimensions": { "concept": "LOT:AdjustmentsForImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLossTradeReceivablesAndInventories", "entity": "scheme:5493004C0K34IFI67I03", "period": "2021-01-01T00:00:00/2022-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f64373": { "value": "259000", "decimals": -3, "dimensions": { "concept": "LOT:AdjustmentsForImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLossNonCurrentAssetsOrDisposalGroupsClassifiedAsHeldForSale", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f64376": { "value": "442000", "decimals": -3, "dimensions": { "concept": "LOT:AdjustmentsForImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLossNonCurrentAssetsOrDisposalGroupsClassifiedAsHeldForSale", "entity": "scheme:5493004C0K34IFI67I03", "period": "2021-01-01T00:00:00/2022-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f64380": { "value": "-16000", "decimals": -3, "dimensions": { "concept": "ifrs-full:AdjustmentsForProvisions", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f64383": { "value": "139000", "decimals": -3, "dimensions": { "concept": "ifrs-full:AdjustmentsForProvisions", "entity": "scheme:5493004C0K34IFI67I03", "period": "2021-01-01T00:00:00/2022-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f64387": { "value": "-2354000", "decimals": -3, "dimensions": { "concept": "ifrs-full:AdjustmentsForFinanceIncomeCost", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f64390": { "value": "-2373000", "decimals": -3, "dimensions": { "concept": "ifrs-full:AdjustmentsForFinanceIncomeCost", "entity": "scheme:5493004C0K34IFI67I03", "period": "2021-01-01T00:00:00/2022-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f64394": { "value": "30744000", "decimals": -3, "dimensions": { "concept": "ifrs-full:AdjustmentsForIncomeTaxExpense", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f64397": { "value": "26554000", "decimals": -3, "dimensions": { "concept": "ifrs-full:AdjustmentsForIncomeTaxExpense", "entity": "scheme:5493004C0K34IFI67I03", "period": "2021-01-01T00:00:00/2022-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f64403": { "value": "470000", "decimals": -3, "dimensions": { "concept": "ifrs-full:AdjustmentsForSharebasedPayments", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f64406": { "value": "419000", "decimals": -3, "dimensions": { "concept": "ifrs-full:AdjustmentsForSharebasedPayments", "entity": "scheme:5493004C0K34IFI67I03", "period": "2021-01-01T00:00:00/2022-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f64411": { "value": "166331000", "decimals": -3, "dimensions": { "concept": "ifrs-full:CashFlowsFromUsedInOperationsBeforeChangesInWorkingCapital", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f64414": { "value": "147430000", "decimals": -3, "dimensions": { "concept": "ifrs-full:CashFlowsFromUsedInOperationsBeforeChangesInWorkingCapital", "entity": "scheme:5493004C0K34IFI67I03", "period": "2021-01-01T00:00:00/2022-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f64419": { "value": "-15588000", "decimals": -3, "dimensions": { "concept": "ifrs-full:AdjustmentsForDecreaseIncreaseInInventories", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f64422": { "value": "-12957000", "decimals": -3, "dimensions": { "concept": "ifrs-full:AdjustmentsForDecreaseIncreaseInInventories", "entity": "scheme:5493004C0K34IFI67I03", "period": "2021-01-01T00:00:00/2022-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f64427": { "value": "-15675000", "decimals": -3, "dimensions": { "concept": "ifrs-full:AdjustmentsForDecreaseIncreaseInTradeAndOtherReceivables", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f64430": { "value": "-4778000", "decimals": -3, "dimensions": { "concept": "ifrs-full:AdjustmentsForDecreaseIncreaseInTradeAndOtherReceivables", "entity": "scheme:5493004C0K34IFI67I03", "period": "2021-01-01T00:00:00/2022-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f64435": { "value": "141000", "decimals": -3, "dimensions": { "concept": "ifrs-full:AdjustmentsForDecreaseIncreaseInOtherAssets", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f64438": { "value": "-5366000", "decimals": -3, "dimensions": { "concept": "ifrs-full:AdjustmentsForDecreaseIncreaseInOtherAssets", "entity": "scheme:5493004C0K34IFI67I03", "period": "2021-01-01T00:00:00/2022-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f64444": { "value": "1880000", "decimals": -3, "dimensions": { "concept": "ifrs-full:AdjustmentsForIncreaseDecreaseInTradeAndOtherPayables", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f64447": { "value": "18576000", "decimals": -3, "dimensions": { "concept": "ifrs-full:AdjustmentsForIncreaseDecreaseInTradeAndOtherPayables", "entity": "scheme:5493004C0K34IFI67I03", "period": "2021-01-01T00:00:00/2022-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f64452": { "value": "1430000", "decimals": -3, "dimensions": { "concept": "ifrs-full:AdjustmentsForIncreaseDecreaseInOtherLiabilities", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f64455": { "value": "-3504000", "decimals": -3, "dimensions": { "concept": "ifrs-full:AdjustmentsForIncreaseDecreaseInOtherLiabilities", "entity": "scheme:5493004C0K34IFI67I03", "period": "2021-01-01T00:00:00/2022-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f64459": { "value": "27811000", "decimals": -3, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseInWorkingCapital", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f64463": { "value": "8029000", "decimals": -3, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseInWorkingCapital", "entity": "scheme:5493004C0K34IFI67I03", "period": "2021-01-01T00:00:00/2022-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f64467": { "value": "27707000", "decimals": -3, "dimensions": { "concept": "ifrs-full:IncomeTaxesPaidClassifiedAsOperatingActivities", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f64471": { "value": "28478000", "decimals": -3, "dimensions": { "concept": "ifrs-full:IncomeTaxesPaidClassifiedAsOperatingActivities", "entity": "scheme:5493004C0K34IFI67I03", "period": "2021-01-01T00:00:00/2022-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f64475": { "value": "110812000", "decimals": -3, "dimensions": { "concept": "ifrs-full:CashFlowsFromUsedInOperatingActivities", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f64478": { "value": "110923000", "decimals": -3, "dimensions": { "concept": "ifrs-full:CashFlowsFromUsedInOperatingActivities", "entity": "scheme:5493004C0K34IFI67I03", "period": "2021-01-01T00:00:00/2022-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f64483": { "value": "123112000", "decimals": -3, "dimensions": { "concept": "LOT:PurchaseOfPropertyPlantAndEquipmentAndPurchaseOfIntangibleAssetsClassifiedAsInvestingActivities", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f64486": { "value": "42048000", "decimals": -3, "dimensions": { "concept": "LOT:PurchaseOfPropertyPlantAndEquipmentAndPurchaseOfIntangibleAssetsClassifiedAsInvestingActivities", "entity": "scheme:5493004C0K34IFI67I03", "period": "2021-01-01T00:00:00/2022-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f64490": { "value": "141000", "decimals": -3, "dimensions": { "concept": "LOT:ProceedsFromSalesOfPropertyPlantAndEquipmentAndProceedsFromSalesOfIntangibleAssetsClassifiedAsInvestingActivities", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f64493": { "value": "541000", "decimals": -3, "dimensions": { "concept": "LOT:ProceedsFromSalesOfPropertyPlantAndEquipmentAndProceedsFromSalesOfIntangibleAssetsClassifiedAsInvestingActivities", "entity": "scheme:5493004C0K34IFI67I03", "period": "2021-01-01T00:00:00/2022-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f64497": { "value": "9205000", "decimals": -3, "dimensions": { "concept": "ifrs-full:CashFlowsUsedInObtainingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f64500": { "value": "274000", "decimals": -3, "dimensions": { "concept": "ifrs-full:CashFlowsUsedInObtainingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities", "entity": "scheme:5493004C0K34IFI67I03", "period": "2021-01-01T00:00:00/2022-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f64504": { "value": "9281000", "decimals": -3, "dimensions": { "concept": "ifrs-full:OtherCashPaymentsToAcquireEquityOrDebtInstrumentsOfOtherEntitiesClassifiedAsInvestingActivities", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f64507": { "value": "5353000", "decimals": -3, "dimensions": { "concept": "ifrs-full:OtherCashPaymentsToAcquireEquityOrDebtInstrumentsOfOtherEntitiesClassifiedAsInvestingActivities", "entity": "scheme:5493004C0K34IFI67I03", "period": "2021-01-01T00:00:00/2022-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f64512": { "value": "-91000", "decimals": -3, "dimensions": { "concept": "LOT:IncreaseDecreaseInNonCurrentReceivablesClassifiedAsInvestingActivities", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f64515": { "value": "415000", "decimals": -3, "dimensions": { "concept": "LOT:IncreaseDecreaseInNonCurrentReceivablesClassifiedAsInvestingActivities", "entity": "scheme:5493004C0K34IFI67I03", "period": "2021-01-01T00:00:00/2022-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f64519": { "value": "-141368000", "decimals": -3, "dimensions": { "concept": "ifrs-full:CashFlowsFromUsedInInvestingActivities", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f64522": { "value": "-47549000", "decimals": -3, "dimensions": { "concept": "ifrs-full:CashFlowsFromUsedInInvestingActivities", "entity": "scheme:5493004C0K34IFI67I03", "period": "2021-01-01T00:00:00/2022-01-01T00:00:00", "unit": "iso4217:EUR" } }, "pp-value-9-1": { "value": "1The presentation of the consolidated cash flow statement has been reviewed in 2022. For consistency purposes, the presentation of the comparative cash flow statement has been aligned. Main changes relate to the following items:- Interests paid: presented as part of the financing activities- Other financial income and expenses received/(paid): presented as part of the financing activities- Proceeds/(Reimbursement) of long-term receivables: presented as part of the investing activities", "dimensions": { "concept": "ifrs-full:DisclosureOfReclassificationsOrChangesInPresentationExplanatory", "language": "en", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "f64702": { "value": "32805000", "decimals": -3, "dimensions": { "concept": "ifrs-full:DividendsPaidClassifiedAsFinancingActivities", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f64705": { "value": "28813000", "decimals": -3, "dimensions": { "concept": "ifrs-full:DividendsPaidClassifiedAsFinancingActivities", "entity": "scheme:5493004C0K34IFI67I03", "period": "2021-01-01T00:00:00/2022-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f64709": { "value": "-8841000", "decimals": -3, "dimensions": { "concept": "LOT:PaymentsToAcquireOrRedeemEntitysSharesAndProceedsFromSaleOrIssueOfTreasuryShares", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f64712": { "value": "3234000", "decimals": -3, "dimensions": { "concept": "LOT:PaymentsToAcquireOrRedeemEntitysSharesAndProceedsFromSaleOrIssueOfTreasuryShares", "entity": "scheme:5493004C0K34IFI67I03", "period": "2021-01-01T00:00:00/2022-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f64717": { "value": "39000000", "decimals": -3, "dimensions": { "concept": "ifrs-full:ProceedsFromBorrowingsClassifiedAsFinancingActivities", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f64720": { "value": "30000000", "decimals": -3, "dimensions": { "concept": "ifrs-full:ProceedsFromBorrowingsClassifiedAsFinancingActivities", "entity": "scheme:5493004C0K34IFI67I03", "period": "2021-01-01T00:00:00/2022-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f64724": { "value": "14000000", "decimals": -3, "dimensions": { "concept": "ifrs-full:RepaymentsOfBorrowingsClassifiedAsFinancingActivities", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f64727": { "value": "14500000", "decimals": -3, "dimensions": { "concept": "ifrs-full:RepaymentsOfBorrowingsClassifiedAsFinancingActivities", "entity": "scheme:5493004C0K34IFI67I03", "period": "2021-01-01T00:00:00/2022-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f64731": { "value": "4187000", "decimals": -3, "dimensions": { "concept": "ifrs-full:PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivities", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f64734": { "value": "4255000", "decimals": -3, "dimensions": { "concept": "ifrs-full:PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivities", "entity": "scheme:5493004C0K34IFI67I03", "period": "2021-01-01T00:00:00/2022-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f64738": { "value": "2221000", "decimals": -3, "dimensions": { "concept": "ifrs-full:InterestPaidClassifiedAsFinancingActivities", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f64741": { "value": "2762000", "decimals": -3, "dimensions": { "concept": "ifrs-full:InterestPaidClassifiedAsFinancingActivities", "entity": "scheme:5493004C0K34IFI67I03", "period": "2021-01-01T00:00:00/2022-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f64745": { "value": "-1545000", "decimals": -3, "dimensions": { "concept": "ifrs-full:OtherInflowsOutflowsOfCashClassifiedAsFinancingActivities", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f64748": { "value": "1664000", "decimals": -3, "dimensions": { "concept": "ifrs-full:OtherInflowsOutflowsOfCashClassifiedAsFinancingActivities", "entity": "scheme:5493004C0K34IFI67I03", "period": "2021-01-01T00:00:00/2022-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f64752": { "value": "-24599000", "decimals": -3, "dimensions": { "concept": "ifrs-full:CashFlowsFromUsedInFinancingActivities", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f64755": { "value": "-15432000", "decimals": -3, "dimensions": { "concept": "ifrs-full:CashFlowsFromUsedInFinancingActivities", "entity": "scheme:5493004C0K34IFI67I03", "period": "2021-01-01T00:00:00/2022-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f64759": { "value": "-55155000", "decimals": -3, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f64762": { "value": "47942000", "decimals": -3, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges", "entity": "scheme:5493004C0K34IFI67I03", "period": "2021-01-01T00:00:00/2022-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f64766": { "value": "132160000", "decimals": -3, "dimensions": { "concept": "ifrs-full:CashAndCashEquivalents", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f64769": { "value": "81261000", "decimals": -3, "dimensions": { "concept": "ifrs-full:CashAndCashEquivalents", "entity": "scheme:5493004C0K34IFI67I03", "period": "2021-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f64774": { "value": "-570000", "decimals": -3, "dimensions": { "concept": "ifrs-full:EffectOfExchangeRateChangesOnCashAndCashEquivalents", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f64777": { "value": "2957000", "decimals": -3, "dimensions": { "concept": "ifrs-full:EffectOfExchangeRateChangesOnCashAndCashEquivalents", "entity": "scheme:5493004C0K34IFI67I03", "period": "2021-01-01T00:00:00/2022-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f64781": { "value": "76435000", "decimals": -3, "dimensions": { "concept": "ifrs-full:CashAndCashEquivalents", "entity": "scheme:5493004C0K34IFI67I03", "period": "2023-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f64784": { "value": "132160000", "decimals": -3, "dimensions": { "concept": "ifrs-full:CashAndCashEquivalents", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f64833": { "value": "3591000", "decimals": -3, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "iso4217:EUR" } }, "f64836": { "value": "12797000", "decimals": -3, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember", "unit": "iso4217:EUR" } }, "f64840": { "value": "16388000", "decimals": -3, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "LOT:IssuedCapitalAndSharePremiumMember", "unit": "iso4217:EUR" } }, "f64843": { "value": "-9514000", "decimals": -3, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:TreasurySharesMember", "unit": "iso4217:EUR" } }, "f64846": { "value": "539590000", "decimals": -3, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:EUR" } }, "f64849": { "value": "-26040000", "decimals": -3, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "unit": "iso4217:EUR" } }, "f64852": { "value": "-613000", "decimals": -3, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfRemeasurementsOfDefinedBenefitPlansMember", "unit": "iso4217:EUR" } }, "f64855": { "value": "-279000", "decimals": -3, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfCashFlowHedgesMember", "unit": "iso4217:EUR" } }, "f64859": { "value": "-26932000", "decimals": -3, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:OtherReservesMember", "unit": "iso4217:EUR" } }, "f64862": { "value": "519532000", "decimals": -3, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember", "unit": "iso4217:EUR" } }, "f64865": { "value": "0", "decimals": -3, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember", "unit": "iso4217:EUR" } }, "f64868": { "value": "519532000", "decimals": -3, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f64872": { "value": "0", "decimals": -3, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "iso4217:EUR" } }, "f64875": { "value": "0", "decimals": -3, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember", "unit": "iso4217:EUR" } }, "f64878": { "value": "0", "decimals": -3, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "LOT:IssuedCapitalAndSharePremiumMember", "unit": "iso4217:EUR" } }, "f64881": { "value": "0", "decimals": -3, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:TreasurySharesMember", "unit": "iso4217:EUR" } }, "f64884": { "value": "103240000", "decimals": -3, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:EUR" } }, "f64887": { "value": "0", "decimals": -3, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "unit": "iso4217:EUR" } }, "f64890": { "value": "0", "decimals": -3, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfRemeasurementsOfDefinedBenefitPlansMember", "unit": "iso4217:EUR" } }, "f64893": { "value": "0", "decimals": -3, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfCashFlowHedgesMember", "unit": "iso4217:EUR" } }, "f64896": { "value": "0", "decimals": -3, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:OtherReservesMember", "unit": "iso4217:EUR" } }, "f64899": { "value": "103240000", "decimals": -3, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember", "unit": "iso4217:EUR" } }, "f64902": { "value": "43000", "decimals": -3, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember", "unit": "iso4217:EUR" } }, "f64905": { "value": "103283000", "decimals": -3, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f64909": { "value": "0", "decimals": -3, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncome", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "iso4217:EUR" } }, "f64912": { "value": "0", "decimals": -3, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncome", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember", "unit": "iso4217:EUR" } }, "f64915": { "value": "0", "decimals": -3, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncome", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "LOT:IssuedCapitalAndSharePremiumMember", "unit": "iso4217:EUR" } }, "f64918": { "value": "0", "decimals": -3, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncome", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:TreasurySharesMember", "unit": "iso4217:EUR" } }, "f64921": { "value": "0", "decimals": -3, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncome", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:EUR" } }, "f64924": { "value": "-9567000", "decimals": -3, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncome", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "unit": "iso4217:EUR" } }, "f64927": { "value": "-151000", "decimals": -3, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncome", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfRemeasurementsOfDefinedBenefitPlansMember", "unit": "iso4217:EUR" } }, "f64930": { "value": "198000", "decimals": -3, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncome", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfCashFlowHedgesMember", "unit": "iso4217:EUR" } }, "f64933": { "value": "-9519000", "decimals": -3, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncome", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:OtherReservesMember", "unit": "iso4217:EUR" } }, "f64936": { "value": "-9519000", "decimals": -3, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncome", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember", "unit": "iso4217:EUR" } }, "f64939": { "value": "-41000", "decimals": -3, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncome", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember", "unit": "iso4217:EUR" } }, "f64942": { "value": "-9560000", "decimals": -3, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncome", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f64949": { "value": "0", "decimals": -3, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "iso4217:EUR" } }, "f64952": { "value": "0", "decimals": -3, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember", "unit": "iso4217:EUR" } }, "f64955": { "value": "0", "decimals": -3, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "LOT:IssuedCapitalAndSharePremiumMember", "unit": "iso4217:EUR" } }, "f64958": { "value": "0", "decimals": -3, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:TreasurySharesMember", "unit": "iso4217:EUR" } }, "f64961": { "value": "103240000", "decimals": -3, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:EUR" } }, "f64964": { "value": "-9567000", "decimals": -3, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "unit": "iso4217:EUR" } }, "f64967": { "value": "-151000", "decimals": -3, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfRemeasurementsOfDefinedBenefitPlansMember", "unit": "iso4217:EUR" } }, "f64970": { "value": "198000", "decimals": -3, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfCashFlowHedgesMember", "unit": "iso4217:EUR" } }, "f64973": { "value": "-9519000", "decimals": -3, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:OtherReservesMember", "unit": "iso4217:EUR" } }, "f64976": { "value": "93720000", "decimals": -3, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember", "unit": "iso4217:EUR" } }, "f64979": { "value": "2000", "decimals": -3, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember", "unit": "iso4217:EUR" } }, "f64982": { "value": "93722000", "decimals": -3, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f64986": { "value": "0", "decimals": -3, "dimensions": { "concept": "ifrs-full:DividendsPaid", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "iso4217:EUR" } }, "f64989": { "value": "0", "decimals": -3, "dimensions": { "concept": "ifrs-full:DividendsPaid", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember", "unit": "iso4217:EUR" } }, "f64992": { "value": "0", "decimals": -3, "dimensions": { "concept": "ifrs-full:DividendsPaid", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "LOT:IssuedCapitalAndSharePremiumMember", "unit": "iso4217:EUR" } }, "f64995": { "value": "0", "decimals": -3, "dimensions": { "concept": "ifrs-full:DividendsPaid", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:TreasurySharesMember", "unit": "iso4217:EUR" } }, "f64998": { "value": "32428000", "decimals": -3, "dimensions": { "concept": "ifrs-full:DividendsPaid", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:EUR" } }, "f65001": { "value": "0", "decimals": -3, "dimensions": { "concept": "ifrs-full:DividendsPaid", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "unit": "iso4217:EUR" } }, "f65004": { "value": "0", "decimals": -3, "dimensions": { "concept": "ifrs-full:DividendsPaid", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfRemeasurementsOfDefinedBenefitPlansMember", "unit": "iso4217:EUR" } }, "f65007": { "value": "0", "decimals": -3, "dimensions": { "concept": "ifrs-full:DividendsPaid", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfCashFlowHedgesMember", "unit": "iso4217:EUR" } }, "f65010": { "value": "0", "decimals": -3, "dimensions": { "concept": "ifrs-full:DividendsPaid", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:OtherReservesMember", "unit": "iso4217:EUR" } }, "f65013": { "value": "32428000", "decimals": -3, "dimensions": { "concept": "ifrs-full:DividendsPaid", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember", "unit": "iso4217:EUR" } }, "f65016": { "value": "293000", "decimals": -3, "dimensions": { "concept": "ifrs-full:DividendsPaid", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember", "unit": "iso4217:EUR" } }, "f65019": { "value": "32721000", "decimals": -3, "dimensions": { "concept": "ifrs-full:DividendsPaid", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f65024": { "value": "0", "decimals": -3, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughTreasuryShareTransactions", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "iso4217:EUR" } }, "f65027": { "value": "0", "decimals": -3, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughTreasuryShareTransactions", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember", "unit": "iso4217:EUR" } }, "f65030": { "value": "0", "decimals": -3, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughTreasuryShareTransactions", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "LOT:IssuedCapitalAndSharePremiumMember", "unit": "iso4217:EUR" } }, "f65033": { "value": "-9462000", "decimals": -3, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughTreasuryShareTransactions", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:TreasurySharesMember", "unit": "iso4217:EUR" } }, "f65036": { "value": "621000", "decimals": -3, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughTreasuryShareTransactions", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:EUR" } }, "f65039": { "value": "0", "decimals": -3, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughTreasuryShareTransactions", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "unit": "iso4217:EUR" } }, "f65042": { "value": "0", "decimals": -3, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughTreasuryShareTransactions", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfRemeasurementsOfDefinedBenefitPlansMember", "unit": "iso4217:EUR" } }, "f65045": { "value": "0", "decimals": -3, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughTreasuryShareTransactions", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfCashFlowHedgesMember", "unit": "iso4217:EUR" } }, "f65048": { "value": "0", "decimals": -3, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughTreasuryShareTransactions", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:OtherReservesMember", "unit": "iso4217:EUR" } }, "f65051": { "value": "-8841000", "decimals": -3, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughTreasuryShareTransactions", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember", "unit": "iso4217:EUR" } }, "f65054": { "value": "0", "decimals": -3, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughTreasuryShareTransactions", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember", "unit": "iso4217:EUR" } }, "f65057": { "value": "-8841000", "decimals": -3, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughTreasuryShareTransactions", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f65062": { "value": "0", "decimals": -3, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "iso4217:EUR" } }, "f65065": { "value": "0", "decimals": -3, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember", "unit": "iso4217:EUR" } }, "f65068": { "value": "0", "decimals": -3, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "LOT:IssuedCapitalAndSharePremiumMember", "unit": "iso4217:EUR" } }, "f65071": { "value": "0", "decimals": -3, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:TreasurySharesMember", "unit": "iso4217:EUR" } }, "f65075": { "value": "470000", "decimals": -3, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:EUR" } }, "f65078": { "value": "0", "decimals": -3, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "unit": "iso4217:EUR" } }, "f65081": { "value": "0", "decimals": -3, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfRemeasurementsOfDefinedBenefitPlansMember", "unit": "iso4217:EUR" } }, "f65084": { "value": "0", "decimals": -3, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfCashFlowHedgesMember", "unit": "iso4217:EUR" } }, "f65087": { "value": "0", "decimals": -3, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:OtherReservesMember", "unit": "iso4217:EUR" } }, "f65091": { "value": "470000", "decimals": -3, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember", "unit": "iso4217:EUR" } }, "f65094": { "value": "0", "decimals": -3, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember", "unit": "iso4217:EUR" } }, "f65098": { "value": "470000", "decimals": -3, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f65103": { "value": "0", "decimals": -3, "dimensions": { "concept": "LOT:ImpactOfWrittenPutOptionsOnNonControllingInterestsEquity", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "iso4217:EUR" } }, "f65106": { "value": "0", "decimals": -3, "dimensions": { "concept": "LOT:ImpactOfWrittenPutOptionsOnNonControllingInterestsEquity", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember", "unit": "iso4217:EUR" } }, "f65109": { "value": "0", "decimals": -3, "dimensions": { "concept": "LOT:ImpactOfWrittenPutOptionsOnNonControllingInterestsEquity", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "LOT:IssuedCapitalAndSharePremiumMember", "unit": "iso4217:EUR" } }, "f65112": { "value": "0", "decimals": -3, "dimensions": { "concept": "LOT:ImpactOfWrittenPutOptionsOnNonControllingInterestsEquity", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:TreasurySharesMember", "unit": "iso4217:EUR" } }, "f65115": { "value": "-291000", "decimals": -3, "dimensions": { "concept": "LOT:ImpactOfWrittenPutOptionsOnNonControllingInterestsEquity", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:EUR" } }, "f65118": { "value": "0", "decimals": -3, "dimensions": { "concept": "LOT:ImpactOfWrittenPutOptionsOnNonControllingInterestsEquity", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "unit": "iso4217:EUR" } }, "f65121": { "value": "0", "decimals": -3, "dimensions": { "concept": "LOT:ImpactOfWrittenPutOptionsOnNonControllingInterestsEquity", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfRemeasurementsOfDefinedBenefitPlansMember", "unit": "iso4217:EUR" } }, "f65124": { "value": "0", "decimals": -3, "dimensions": { "concept": "LOT:ImpactOfWrittenPutOptionsOnNonControllingInterestsEquity", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfCashFlowHedgesMember", "unit": "iso4217:EUR" } }, "f65127": { "value": "0", "decimals": -3, "dimensions": { "concept": "LOT:ImpactOfWrittenPutOptionsOnNonControllingInterestsEquity", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:OtherReservesMember", "unit": "iso4217:EUR" } }, "f65130": { "value": "-291000", "decimals": -3, "dimensions": { "concept": "LOT:ImpactOfWrittenPutOptionsOnNonControllingInterestsEquity", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember", "unit": "iso4217:EUR" } }, "f65133": { "value": "291000", "decimals": -3, "dimensions": { "concept": "LOT:ImpactOfWrittenPutOptionsOnNonControllingInterestsEquity", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember", "unit": "iso4217:EUR" } }, "f65136": { "value": "0", "decimals": -3, "dimensions": { "concept": "LOT:ImpactOfWrittenPutOptionsOnNonControllingInterestsEquity", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f65140": { "value": "0", "decimals": -3, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughTransfersAndOtherChangesEquity", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "iso4217:EUR" } }, "f65143": { "value": "0", "decimals": -3, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughTransfersAndOtherChangesEquity", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember", "unit": "iso4217:EUR" } }, "f65146": { "value": "0", "decimals": -3, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughTransfersAndOtherChangesEquity", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "LOT:IssuedCapitalAndSharePremiumMember", "unit": "iso4217:EUR" } }, "f65149": { "value": "0", "decimals": -3, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughTransfersAndOtherChangesEquity", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:TreasurySharesMember", "unit": "iso4217:EUR" } }, "f65152": { "value": "-21000", "decimals": -3, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughTransfersAndOtherChangesEquity", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:EUR" } }, "f65155": { "value": "0", "decimals": -3, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughTransfersAndOtherChangesEquity", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "unit": "iso4217:EUR" } }, "f65158": { "value": "0", "decimals": -3, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughTransfersAndOtherChangesEquity", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfRemeasurementsOfDefinedBenefitPlansMember", "unit": "iso4217:EUR" } }, "f65161": { "value": "0", "decimals": -3, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughTransfersAndOtherChangesEquity", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfCashFlowHedgesMember", "unit": "iso4217:EUR" } }, "f65164": { "value": "0", "decimals": -3, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughTransfersAndOtherChangesEquity", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:OtherReservesMember", "unit": "iso4217:EUR" } }, "f65167": { "value": "-21000", "decimals": -3, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughTransfersAndOtherChangesEquity", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember", "unit": "iso4217:EUR" } }, "f65170": { "value": "0", "decimals": -3, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughTransfersAndOtherChangesEquity", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember", "unit": "iso4217:EUR" } }, "f65173": { "value": "-21000", "decimals": -3, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughTransfersAndOtherChangesEquity", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f65178": { "value": "3591000", "decimals": -3, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:5493004C0K34IFI67I03", "period": "2023-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "iso4217:EUR" } }, "f65181": { "value": "12797000", "decimals": -3, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:5493004C0K34IFI67I03", "period": "2023-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember", "unit": "iso4217:EUR" } }, "f65185": { "value": "16388000", "decimals": -3, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:5493004C0K34IFI67I03", "period": "2023-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "LOT:IssuedCapitalAndSharePremiumMember", "unit": "iso4217:EUR" } }, "f65188": { "value": "-18976000", "decimals": -3, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:5493004C0K34IFI67I03", "period": "2023-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:TreasurySharesMember", "unit": "iso4217:EUR" } }, "f65191": { "value": "611180000", "decimals": -3, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:5493004C0K34IFI67I03", "period": "2023-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:EUR" } }, "f65194": { "value": "-35607000", "decimals": -3, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:5493004C0K34IFI67I03", "period": "2023-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "unit": "iso4217:EUR" } }, "f65197": { "value": "-764000", "decimals": -3, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:5493004C0K34IFI67I03", "period": "2023-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfRemeasurementsOfDefinedBenefitPlansMember", "unit": "iso4217:EUR" } }, "f65200": { "value": "-81000", "decimals": -3, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:5493004C0K34IFI67I03", "period": "2023-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfCashFlowHedgesMember", "unit": "iso4217:EUR" } }, "f65204": { "value": "-36451000", "decimals": -3, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:5493004C0K34IFI67I03", "period": "2023-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:OtherReservesMember", "unit": "iso4217:EUR" } }, "f65207": { "value": "572141000", "decimals": -3, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:5493004C0K34IFI67I03", "period": "2023-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember", "unit": "iso4217:EUR" } }, "f65210": { "value": "0", "decimals": -3, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:5493004C0K34IFI67I03", "period": "2023-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember", "unit": "iso4217:EUR" } }, "f65213": { "value": "572141000", "decimals": -3, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:5493004C0K34IFI67I03", "period": "2023-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f65218": { "value": "3591000", "decimals": -3, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:5493004C0K34IFI67I03", "period": "2021-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "iso4217:EUR" } }, "f65221": { "value": "12797000", "decimals": -3, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:5493004C0K34IFI67I03", "period": "2021-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember", "unit": "iso4217:EUR" } }, "f65224": { "value": "16388000", "decimals": -3, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:5493004C0K34IFI67I03", "period": "2021-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "LOT:IssuedCapitalAndSharePremiumMember", "unit": "iso4217:EUR" } }, "f65227": { "value": "-11474000", "decimals": -3, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:5493004C0K34IFI67I03", "period": "2021-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:TreasurySharesMember", "unit": "iso4217:EUR" } }, "f65230": { "value": "476724000", "decimals": -3, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:5493004C0K34IFI67I03", "period": "2021-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:EUR" } }, "f65234": { "value": "-47143000", "decimals": -3, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:5493004C0K34IFI67I03", "period": "2021-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "unit": "iso4217:EUR" } }, "f65237": { "value": "-280000", "decimals": -3, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:5493004C0K34IFI67I03", "period": "2021-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfRemeasurementsOfDefinedBenefitPlansMember", "unit": "iso4217:EUR" } }, "f65240": { "value": "-538000", "decimals": -3, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:5493004C0K34IFI67I03", "period": "2021-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfCashFlowHedgesMember", "unit": "iso4217:EUR" } }, "f65244": { "value": "-47961000", "decimals": -3, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:5493004C0K34IFI67I03", "period": "2021-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:OtherReservesMember", "unit": "iso4217:EUR" } }, "f65247": { "value": "433677000", "decimals": -3, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:5493004C0K34IFI67I03", "period": "2021-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember", "unit": "iso4217:EUR" } }, "f65250": { "value": "67000", "decimals": -3, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:5493004C0K34IFI67I03", "period": "2021-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember", "unit": "iso4217:EUR" } }, "f65253": { "value": "433744000", "decimals": -3, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:5493004C0K34IFI67I03", "period": "2021-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f65257": { "value": "0", "decimals": -3, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:5493004C0K34IFI67I03", "period": "2021-01-01T00:00:00/2022-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "iso4217:EUR" } }, "f65260": { "value": "0", "decimals": -3, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:5493004C0K34IFI67I03", "period": "2021-01-01T00:00:00/2022-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember", "unit": "iso4217:EUR" } }, "f65263": { "value": "0", "decimals": -3, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:5493004C0K34IFI67I03", "period": "2021-01-01T00:00:00/2022-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "LOT:IssuedCapitalAndSharePremiumMember", "unit": "iso4217:EUR" } }, "f65266": { "value": "0", "decimals": -3, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:5493004C0K34IFI67I03", "period": "2021-01-01T00:00:00/2022-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:TreasurySharesMember", "unit": "iso4217:EUR" } }, "f65269": { "value": "90767000", "decimals": -3, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:5493004C0K34IFI67I03", "period": "2021-01-01T00:00:00/2022-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:EUR" } }, "f65272": { "value": "0", "decimals": -3, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:5493004C0K34IFI67I03", "period": "2021-01-01T00:00:00/2022-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "unit": "iso4217:EUR" } }, "f65275": { "value": "0", "decimals": -3, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:5493004C0K34IFI67I03", "period": "2021-01-01T00:00:00/2022-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfRemeasurementsOfDefinedBenefitPlansMember", "unit": "iso4217:EUR" } }, "f65278": { "value": "0", "decimals": -3, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:5493004C0K34IFI67I03", "period": "2021-01-01T00:00:00/2022-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfCashFlowHedgesMember", "unit": "iso4217:EUR" } }, "f65281": { "value": "0", "decimals": -3, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:5493004C0K34IFI67I03", "period": "2021-01-01T00:00:00/2022-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:OtherReservesMember", "unit": "iso4217:EUR" } }, "f65284": { "value": "90767000", "decimals": -3, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:5493004C0K34IFI67I03", "period": "2021-01-01T00:00:00/2022-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember", "unit": "iso4217:EUR" } }, "f65287": { "value": "-24000", "decimals": -3, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:5493004C0K34IFI67I03", "period": "2021-01-01T00:00:00/2022-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember", "unit": "iso4217:EUR" } }, "f65290": { "value": "90743000", "decimals": -3, "dimensions": { "concept": "ifrs-full:ProfitLoss", "entity": "scheme:5493004C0K34IFI67I03", "period": "2021-01-01T00:00:00/2022-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f65294": { "value": "0", "decimals": -3, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncome", "entity": "scheme:5493004C0K34IFI67I03", "period": "2021-01-01T00:00:00/2022-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "iso4217:EUR" } }, "f65297": { "value": "0", "decimals": -3, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncome", "entity": "scheme:5493004C0K34IFI67I03", "period": "2021-01-01T00:00:00/2022-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember", "unit": "iso4217:EUR" } }, "f65300": { "value": "0", "decimals": -3, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncome", "entity": "scheme:5493004C0K34IFI67I03", "period": "2021-01-01T00:00:00/2022-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "LOT:IssuedCapitalAndSharePremiumMember", "unit": "iso4217:EUR" } }, "f65303": { "value": "0", "decimals": -3, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncome", "entity": "scheme:5493004C0K34IFI67I03", "period": "2021-01-01T00:00:00/2022-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:TreasurySharesMember", "unit": "iso4217:EUR" } }, "f65306": { "value": "0", "decimals": -3, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncome", "entity": "scheme:5493004C0K34IFI67I03", "period": "2021-01-01T00:00:00/2022-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:EUR" } }, "f65309": { "value": "21103000", "decimals": -3, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncome", "entity": "scheme:5493004C0K34IFI67I03", "period": "2021-01-01T00:00:00/2022-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "unit": "iso4217:EUR" } }, "f65312": { "value": "-333000", "decimals": -3, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncome", "entity": "scheme:5493004C0K34IFI67I03", "period": "2021-01-01T00:00:00/2022-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfRemeasurementsOfDefinedBenefitPlansMember", "unit": "iso4217:EUR" } }, "f65315": { "value": "259000", "decimals": -3, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncome", "entity": "scheme:5493004C0K34IFI67I03", "period": "2021-01-01T00:00:00/2022-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfCashFlowHedgesMember", "unit": "iso4217:EUR" } }, "f65318": { "value": "21029000", "decimals": -3, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncome", "entity": "scheme:5493004C0K34IFI67I03", "period": "2021-01-01T00:00:00/2022-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:OtherReservesMember", "unit": "iso4217:EUR" } }, "f65321": { "value": "21029000", "decimals": -3, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncome", "entity": "scheme:5493004C0K34IFI67I03", "period": "2021-01-01T00:00:00/2022-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember", "unit": "iso4217:EUR" } }, "f65324": { "value": "57000", "decimals": -3, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncome", "entity": "scheme:5493004C0K34IFI67I03", "period": "2021-01-01T00:00:00/2022-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember", "unit": "iso4217:EUR" } }, "f65327": { "value": "21086000", "decimals": -3, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncome", "entity": "scheme:5493004C0K34IFI67I03", "period": "2021-01-01T00:00:00/2022-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f65334": { "value": "0", "decimals": -3, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:5493004C0K34IFI67I03", "period": "2021-01-01T00:00:00/2022-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "iso4217:EUR" } }, "f65337": { "value": "0", "decimals": -3, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:5493004C0K34IFI67I03", "period": "2021-01-01T00:00:00/2022-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember", "unit": "iso4217:EUR" } }, "f65340": { "value": "0", "decimals": -3, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:5493004C0K34IFI67I03", "period": "2021-01-01T00:00:00/2022-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "LOT:IssuedCapitalAndSharePremiumMember", "unit": "iso4217:EUR" } }, "f65343": { "value": "0", "decimals": -3, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:5493004C0K34IFI67I03", "period": "2021-01-01T00:00:00/2022-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:TreasurySharesMember", "unit": "iso4217:EUR" } }, "f65346": { "value": "90767000", "decimals": -3, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:5493004C0K34IFI67I03", "period": "2021-01-01T00:00:00/2022-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:EUR" } }, "f65349": { "value": "21103000", "decimals": -3, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:5493004C0K34IFI67I03", "period": "2021-01-01T00:00:00/2022-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "unit": "iso4217:EUR" } }, "f65352": { "value": "-333000", "decimals": -3, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:5493004C0K34IFI67I03", "period": "2021-01-01T00:00:00/2022-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfRemeasurementsOfDefinedBenefitPlansMember", "unit": "iso4217:EUR" } }, "f65355": { "value": "259000", "decimals": -3, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:5493004C0K34IFI67I03", "period": "2021-01-01T00:00:00/2022-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfCashFlowHedgesMember", "unit": "iso4217:EUR" } }, "f65359": { "value": "21029000", "decimals": -3, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:5493004C0K34IFI67I03", "period": "2021-01-01T00:00:00/2022-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:OtherReservesMember", "unit": "iso4217:EUR" } }, "f65362": { "value": "111796000", "decimals": -3, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:5493004C0K34IFI67I03", "period": "2021-01-01T00:00:00/2022-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember", "unit": "iso4217:EUR" } }, "f65365": { "value": "33000", "decimals": -3, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:5493004C0K34IFI67I03", "period": "2021-01-01T00:00:00/2022-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember", "unit": "iso4217:EUR" } }, "f65368": { "value": "111829000", "decimals": -3, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:5493004C0K34IFI67I03", "period": "2021-01-01T00:00:00/2022-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f65372": { "value": "0", "decimals": -3, "dimensions": { "concept": "ifrs-full:DividendsPaid", "entity": "scheme:5493004C0K34IFI67I03", "period": "2021-01-01T00:00:00/2022-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "iso4217:EUR" } }, "f65375": { "value": "0", "decimals": -3, "dimensions": { "concept": "ifrs-full:DividendsPaid", "entity": "scheme:5493004C0K34IFI67I03", "period": "2021-01-01T00:00:00/2022-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember", "unit": "iso4217:EUR" } }, "f65378": { "value": "0", "decimals": -3, "dimensions": { "concept": "ifrs-full:DividendsPaid", "entity": "scheme:5493004C0K34IFI67I03", "period": "2021-01-01T00:00:00/2022-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "LOT:IssuedCapitalAndSharePremiumMember", "unit": "iso4217:EUR" } }, "f65381": { "value": "0", "decimals": -3, "dimensions": { "concept": "ifrs-full:DividendsPaid", "entity": "scheme:5493004C0K34IFI67I03", "period": "2021-01-01T00:00:00/2022-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:TreasurySharesMember", "unit": "iso4217:EUR" } }, "f65384": { "value": "28968000", "decimals": -3, "dimensions": { "concept": "ifrs-full:DividendsPaid", "entity": "scheme:5493004C0K34IFI67I03", "period": "2021-01-01T00:00:00/2022-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:EUR" } }, "f65387": { "value": "0", "decimals": -3, "dimensions": { "concept": "ifrs-full:DividendsPaid", "entity": "scheme:5493004C0K34IFI67I03", "period": "2021-01-01T00:00:00/2022-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "unit": "iso4217:EUR" } }, "f65390": { "value": "0", "decimals": -3, "dimensions": { "concept": "ifrs-full:DividendsPaid", "entity": "scheme:5493004C0K34IFI67I03", "period": "2021-01-01T00:00:00/2022-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfRemeasurementsOfDefinedBenefitPlansMember", "unit": "iso4217:EUR" } }, "f65393": { "value": "0", "decimals": -3, "dimensions": { "concept": "ifrs-full:DividendsPaid", "entity": "scheme:5493004C0K34IFI67I03", "period": "2021-01-01T00:00:00/2022-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfCashFlowHedgesMember", "unit": "iso4217:EUR" } }, "f65396": { "value": "0", "decimals": -3, "dimensions": { "concept": "ifrs-full:DividendsPaid", "entity": "scheme:5493004C0K34IFI67I03", "period": "2021-01-01T00:00:00/2022-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:OtherReservesMember", "unit": "iso4217:EUR" } }, "f65399": { "value": "28968000", "decimals": -3, "dimensions": { "concept": "ifrs-full:DividendsPaid", "entity": "scheme:5493004C0K34IFI67I03", "period": "2021-01-01T00:00:00/2022-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember", "unit": "iso4217:EUR" } }, "f65402": { "value": "0", "decimals": -3, "dimensions": { "concept": "ifrs-full:DividendsPaid", "entity": "scheme:5493004C0K34IFI67I03", "period": "2021-01-01T00:00:00/2022-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember", "unit": "iso4217:EUR" } }, "f65405": { "value": "28968000", "decimals": -3, "dimensions": { "concept": "ifrs-full:DividendsPaid", "entity": "scheme:5493004C0K34IFI67I03", "period": "2021-01-01T00:00:00/2022-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f65410": { "value": "0", "decimals": -3, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughTreasuryShareTransactions", "entity": "scheme:5493004C0K34IFI67I03", "period": "2021-01-01T00:00:00/2022-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "iso4217:EUR" } }, "f65413": { "value": "0", "decimals": -3, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughTreasuryShareTransactions", "entity": "scheme:5493004C0K34IFI67I03", "period": "2021-01-01T00:00:00/2022-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember", "unit": "iso4217:EUR" } }, "f65416": { "value": "0", "decimals": -3, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughTreasuryShareTransactions", "entity": "scheme:5493004C0K34IFI67I03", "period": "2021-01-01T00:00:00/2022-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "LOT:IssuedCapitalAndSharePremiumMember", "unit": "iso4217:EUR" } }, "f65419": { "value": "1960000", "decimals": -3, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughTreasuryShareTransactions", "entity": "scheme:5493004C0K34IFI67I03", "period": "2021-01-01T00:00:00/2022-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:TreasurySharesMember", "unit": "iso4217:EUR" } }, "f65422": { "value": "0", "decimals": -3, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughTreasuryShareTransactions", "entity": "scheme:5493004C0K34IFI67I03", "period": "2021-01-01T00:00:00/2022-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:EUR" } }, "f65425": { "value": "0", "decimals": -3, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughTreasuryShareTransactions", "entity": "scheme:5493004C0K34IFI67I03", "period": "2021-01-01T00:00:00/2022-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "unit": "iso4217:EUR" } }, "f65428": { "value": "0", "decimals": -3, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughTreasuryShareTransactions", "entity": "scheme:5493004C0K34IFI67I03", "period": "2021-01-01T00:00:00/2022-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfRemeasurementsOfDefinedBenefitPlansMember", "unit": "iso4217:EUR" } }, "f65431": { "value": "0", "decimals": -3, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughTreasuryShareTransactions", "entity": "scheme:5493004C0K34IFI67I03", "period": "2021-01-01T00:00:00/2022-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfCashFlowHedgesMember", "unit": "iso4217:EUR" } }, "f65434": { "value": "0", "decimals": -3, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughTreasuryShareTransactions", "entity": "scheme:5493004C0K34IFI67I03", "period": "2021-01-01T00:00:00/2022-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:OtherReservesMember", "unit": "iso4217:EUR" } }, "f65437": { "value": "1960000", "decimals": -3, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughTreasuryShareTransactions", "entity": "scheme:5493004C0K34IFI67I03", "period": "2021-01-01T00:00:00/2022-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember", "unit": "iso4217:EUR" } }, "f65440": { "value": "0", "decimals": -3, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughTreasuryShareTransactions", "entity": "scheme:5493004C0K34IFI67I03", "period": "2021-01-01T00:00:00/2022-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember", "unit": "iso4217:EUR" } }, "f65443": { "value": "1960000", "decimals": -3, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughTreasuryShareTransactions", "entity": "scheme:5493004C0K34IFI67I03", "period": "2021-01-01T00:00:00/2022-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f65448": { "value": "0", "decimals": -3, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions", "entity": "scheme:5493004C0K34IFI67I03", "period": "2021-01-01T00:00:00/2022-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "iso4217:EUR" } }, "f65451": { "value": "0", "decimals": -3, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions", "entity": "scheme:5493004C0K34IFI67I03", "period": "2021-01-01T00:00:00/2022-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember", "unit": "iso4217:EUR" } }, "f65454": { "value": "0", "decimals": -3, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions", "entity": "scheme:5493004C0K34IFI67I03", "period": "2021-01-01T00:00:00/2022-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "LOT:IssuedCapitalAndSharePremiumMember", "unit": "iso4217:EUR" } }, "f65457": { "value": "0", "decimals": -3, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions", "entity": "scheme:5493004C0K34IFI67I03", "period": "2021-01-01T00:00:00/2022-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:TreasurySharesMember", "unit": "iso4217:EUR" } }, "f65460": { "value": "419000", "decimals": -3, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions", "entity": "scheme:5493004C0K34IFI67I03", "period": "2021-01-01T00:00:00/2022-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:EUR" } }, "f65463": { "value": "0", "decimals": -3, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions", "entity": "scheme:5493004C0K34IFI67I03", "period": "2021-01-01T00:00:00/2022-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "unit": "iso4217:EUR" } }, "f65466": { "value": "0", "decimals": -3, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions", "entity": "scheme:5493004C0K34IFI67I03", "period": "2021-01-01T00:00:00/2022-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfRemeasurementsOfDefinedBenefitPlansMember", "unit": "iso4217:EUR" } }, "f65469": { "value": "0", "decimals": -3, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions", "entity": "scheme:5493004C0K34IFI67I03", "period": "2021-01-01T00:00:00/2022-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfCashFlowHedgesMember", "unit": "iso4217:EUR" } }, "f65472": { "value": "0", "decimals": -3, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions", "entity": "scheme:5493004C0K34IFI67I03", "period": "2021-01-01T00:00:00/2022-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:OtherReservesMember", "unit": "iso4217:EUR" } }, "f65475": { "value": "419000", "decimals": -3, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions", "entity": "scheme:5493004C0K34IFI67I03", "period": "2021-01-01T00:00:00/2022-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember", "unit": "iso4217:EUR" } }, "f65478": { "value": "0", "decimals": -3, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions", "entity": "scheme:5493004C0K34IFI67I03", "period": "2021-01-01T00:00:00/2022-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember", "unit": "iso4217:EUR" } }, "f65481": { "value": "419000", "decimals": -3, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions", "entity": "scheme:5493004C0K34IFI67I03", "period": "2021-01-01T00:00:00/2022-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f65488": { "value": "0", "decimals": -3, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl", "entity": "scheme:5493004C0K34IFI67I03", "period": "2021-01-01T00:00:00/2022-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "LOT:IssuedCapitalAndSharePremiumMember", "unit": "iso4217:EUR" } }, "f65491": { "value": "0", "decimals": -3, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl", "entity": "scheme:5493004C0K34IFI67I03", "period": "2021-01-01T00:00:00/2022-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:TreasurySharesMember", "unit": "iso4217:EUR" } }, "f65494": { "value": "67000", "decimals": -3, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl", "entity": "scheme:5493004C0K34IFI67I03", "period": "2021-01-01T00:00:00/2022-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:EUR" } }, "f65497": { "value": "0", "decimals": -3, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl", "entity": "scheme:5493004C0K34IFI67I03", "period": "2021-01-01T00:00:00/2022-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "unit": "iso4217:EUR" } }, "f65500": { "value": "0", "decimals": -3, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl", "entity": "scheme:5493004C0K34IFI67I03", "period": "2021-01-01T00:00:00/2022-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfRemeasurementsOfDefinedBenefitPlansMember", "unit": "iso4217:EUR" } }, "f65503": { "value": "0", "decimals": -3, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl", "entity": "scheme:5493004C0K34IFI67I03", "period": "2021-01-01T00:00:00/2022-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfCashFlowHedgesMember", "unit": "iso4217:EUR" } }, "f65506": { "value": "0", "decimals": -3, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl", "entity": "scheme:5493004C0K34IFI67I03", "period": "2021-01-01T00:00:00/2022-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:OtherReservesMember", "unit": "iso4217:EUR" } }, "f65509": { "value": "67000", "decimals": -3, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl", "entity": "scheme:5493004C0K34IFI67I03", "period": "2021-01-01T00:00:00/2022-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember", "unit": "iso4217:EUR" } }, "f65512": { "value": "-67000", "decimals": -3, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl", "entity": "scheme:5493004C0K34IFI67I03", "period": "2021-01-01T00:00:00/2022-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember", "unit": "iso4217:EUR" } }, "f65515": { "value": "0", "decimals": -3, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughChangesInOwnershipInterestsInSubsidiariesThatDoNotResultInLossOfControl", "entity": "scheme:5493004C0K34IFI67I03", "period": "2021-01-01T00:00:00/2022-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f65520": { "value": "0", "decimals": -3, "dimensions": { "concept": "LOT:ImpactOfWrittenPutOptionsOnNonControllingInterestsEquity", "entity": "scheme:5493004C0K34IFI67I03", "period": "2021-01-01T00:00:00/2022-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "iso4217:EUR" } }, "f65523": { "value": "0", "decimals": -3, "dimensions": { "concept": "LOT:ImpactOfWrittenPutOptionsOnNonControllingInterestsEquity", "entity": "scheme:5493004C0K34IFI67I03", "period": "2021-01-01T00:00:00/2022-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember", "unit": "iso4217:EUR" } }, "f65526": { "value": "0", "decimals": -3, "dimensions": { "concept": "LOT:ImpactOfWrittenPutOptionsOnNonControllingInterestsEquity", "entity": "scheme:5493004C0K34IFI67I03", "period": "2021-01-01T00:00:00/2022-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "LOT:IssuedCapitalAndSharePremiumMember", "unit": "iso4217:EUR" } }, "f65529": { "value": "0", "decimals": -3, "dimensions": { "concept": "LOT:ImpactOfWrittenPutOptionsOnNonControllingInterestsEquity", "entity": "scheme:5493004C0K34IFI67I03", "period": "2021-01-01T00:00:00/2022-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:TreasurySharesMember", "unit": "iso4217:EUR" } }, "f65532": { "value": "33000", "decimals": -3, "dimensions": { "concept": "LOT:ImpactOfWrittenPutOptionsOnNonControllingInterestsEquity", "entity": "scheme:5493004C0K34IFI67I03", "period": "2021-01-01T00:00:00/2022-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:EUR" } }, "f65535": { "value": "0", "decimals": -3, "dimensions": { "concept": "LOT:ImpactOfWrittenPutOptionsOnNonControllingInterestsEquity", "entity": "scheme:5493004C0K34IFI67I03", "period": "2021-01-01T00:00:00/2022-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "unit": "iso4217:EUR" } }, "f65538": { "value": "0", "decimals": -3, "dimensions": { "concept": "LOT:ImpactOfWrittenPutOptionsOnNonControllingInterestsEquity", "entity": "scheme:5493004C0K34IFI67I03", "period": "2021-01-01T00:00:00/2022-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfRemeasurementsOfDefinedBenefitPlansMember", "unit": "iso4217:EUR" } }, "f65541": { "value": "0", "decimals": -3, "dimensions": { "concept": "LOT:ImpactOfWrittenPutOptionsOnNonControllingInterestsEquity", "entity": "scheme:5493004C0K34IFI67I03", "period": "2021-01-01T00:00:00/2022-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfCashFlowHedgesMember", "unit": "iso4217:EUR" } }, "f65544": { "value": "0", "decimals": -3, "dimensions": { "concept": "LOT:ImpactOfWrittenPutOptionsOnNonControllingInterestsEquity", "entity": "scheme:5493004C0K34IFI67I03", "period": "2021-01-01T00:00:00/2022-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:OtherReservesMember", "unit": "iso4217:EUR" } }, "f65547": { "value": "33000", "decimals": -3, "dimensions": { "concept": "LOT:ImpactOfWrittenPutOptionsOnNonControllingInterestsEquity", "entity": "scheme:5493004C0K34IFI67I03", "period": "2021-01-01T00:00:00/2022-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember", "unit": "iso4217:EUR" } }, "f65550": { "value": "-33000", "decimals": -3, "dimensions": { "concept": "LOT:ImpactOfWrittenPutOptionsOnNonControllingInterestsEquity", "entity": "scheme:5493004C0K34IFI67I03", "period": "2021-01-01T00:00:00/2022-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember", "unit": "iso4217:EUR" } }, "f65553": { "value": "0", "decimals": -3, "dimensions": { "concept": "LOT:ImpactOfWrittenPutOptionsOnNonControllingInterestsEquity", "entity": "scheme:5493004C0K34IFI67I03", "period": "2021-01-01T00:00:00/2022-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f65557": { "value": "0", "decimals": -3, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughTransfersAndOtherChangesEquity", "entity": "scheme:5493004C0K34IFI67I03", "period": "2021-01-01T00:00:00/2022-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "iso4217:EUR" } }, "f65560": { "value": "0", "decimals": -3, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughTransfersAndOtherChangesEquity", "entity": "scheme:5493004C0K34IFI67I03", "period": "2021-01-01T00:00:00/2022-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember", "unit": "iso4217:EUR" } }, "f65563": { "value": "0", "decimals": -3, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughTransfersAndOtherChangesEquity", "entity": "scheme:5493004C0K34IFI67I03", "period": "2021-01-01T00:00:00/2022-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "LOT:IssuedCapitalAndSharePremiumMember", "unit": "iso4217:EUR" } }, "f65566": { "value": "0", "decimals": -3, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughTransfersAndOtherChangesEquity", "entity": "scheme:5493004C0K34IFI67I03", "period": "2021-01-01T00:00:00/2022-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:TreasurySharesMember", "unit": "iso4217:EUR" } }, "f65569": { "value": "548000", "decimals": -3, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughTransfersAndOtherChangesEquity", "entity": "scheme:5493004C0K34IFI67I03", "period": "2021-01-01T00:00:00/2022-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:EUR" } }, "f65572": { "value": "0", "decimals": -3, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughTransfersAndOtherChangesEquity", "entity": "scheme:5493004C0K34IFI67I03", "period": "2021-01-01T00:00:00/2022-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "unit": "iso4217:EUR" } }, "f65575": { "value": "0", "decimals": -3, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughTransfersAndOtherChangesEquity", "entity": "scheme:5493004C0K34IFI67I03", "period": "2021-01-01T00:00:00/2022-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfRemeasurementsOfDefinedBenefitPlansMember", "unit": "iso4217:EUR" } }, "f65578": { "value": "0", "decimals": -3, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughTransfersAndOtherChangesEquity", "entity": "scheme:5493004C0K34IFI67I03", "period": "2021-01-01T00:00:00/2022-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfCashFlowHedgesMember", "unit": "iso4217:EUR" } }, "f65581": { "value": "0", "decimals": -3, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughTransfersAndOtherChangesEquity", "entity": "scheme:5493004C0K34IFI67I03", "period": "2021-01-01T00:00:00/2022-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:OtherReservesMember", "unit": "iso4217:EUR" } }, "f65584": { "value": "548000", "decimals": -3, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughTransfersAndOtherChangesEquity", "entity": "scheme:5493004C0K34IFI67I03", "period": "2021-01-01T00:00:00/2022-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember", "unit": "iso4217:EUR" } }, "f65587": { "value": "0", "decimals": -3, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughTransfersAndOtherChangesEquity", "entity": "scheme:5493004C0K34IFI67I03", "period": "2021-01-01T00:00:00/2022-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember", "unit": "iso4217:EUR" } }, "f65590": { "value": "548000", "decimals": -3, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughTransfersAndOtherChangesEquity", "entity": "scheme:5493004C0K34IFI67I03", "period": "2021-01-01T00:00:00/2022-01-01T00:00:00", "unit": "iso4217:EUR" } }, "f65595": { "value": "3591000", "decimals": -3, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "iso4217:EUR" } }, "f65598": { "value": "12797000", "decimals": -3, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember", "unit": "iso4217:EUR" } }, "f65601": { "value": "16388000", "decimals": -3, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "LOT:IssuedCapitalAndSharePremiumMember", "unit": "iso4217:EUR" } }, "f65604": { "value": "-9514000", "decimals": -3, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:TreasurySharesMember", "unit": "iso4217:EUR" } }, "f65607": { "value": "539590000", "decimals": -3, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:EUR" } }, "f65611": { "value": "-26040000", "decimals": -3, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "unit": "iso4217:EUR" } }, "f65614": { "value": "-613000", "decimals": -3, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfRemeasurementsOfDefinedBenefitPlansMember", "unit": "iso4217:EUR" } }, "f65617": { "value": "-279000", "decimals": -3, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfCashFlowHedgesMember", "unit": "iso4217:EUR" } }, "f65620": { "value": "-26932000", "decimals": -3, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:OtherReservesMember", "unit": "iso4217:EUR" } }, "f65623": { "value": "519532000", "decimals": -3, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember", "unit": "iso4217:EUR" } }, "f65626": { "value": "0", "decimals": -3, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember", "unit": "iso4217:EUR" } }, "f65629": { "value": "519532000", "decimals": -3, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00", "unit": "iso4217:EUR" } }, "pp-value-10-2": { "value": "1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES1.1 Basis of presentation The consolidated financial statements of the Group have been prepared in accordance with the International Financial Reporting Standards (IFRS), as adopted by the European Union (EU). These consolidated financial statements are presented in thousands of EUR and present the financial situation as at December 31, 2022. Due to rounding, numbers presented throughout these consolidated financial statements may not add up precisely to the totals provided and percentages may not precisely reflect the absolute figures.The accounting principles have been consistently applied to all periods presented and are consistent with those applied in the audited consolidated financial statements for the year ended December 31, 2021 of the Group.The consolidated financial statements have been prepared based on the historical cost methodology, except for certain financial instruments for which the fair value is used.These financial statements are prepared on an accrual basis and on the assumption that the Group is in going concern and will continue in operation in the foreseeable future.The Group has adopted the following relevant new standards, amendments to standards or interpretations for the first time for the financial year beginning January 1, 2022 and have been endorsed by the European Union: \u2022 Amendments to IAS 16 \u2013 Proceeds before Intended Use: The amendments prohibit deducting from the cost of an item of property, plant and equipment any proceeds from selling items produced while bringing that asset to the location and condition necessary for it to be capable of operating in the manner intended by management.\u2022 Amendments to IAS 37 \u2013 Onerous Contracts \u2013 Cost of Fulfilling a Contract: The amendments clarify the costs a company should include as the cost of fulfilling a contract when assessing whether a contract is onerous.\u2022 Annual Improvements 2018-2020: The annual improvements package includes the following minor amendments: Subsidiary as a First-time Adopter (Amendment to IFRS 1); Fees in the \u201810 per cent\u2019 Test for Derecognition of Financial Liabilities (Amendment to IFRS 9); Lease Incentives (Amendment to Illustrative Example 13 of IFRS 16); Taxation in Fair Value Measurements (Amendment to IAS 41).The following relevant new standards, amendments to standards or interpretations have been published, but are not yet mandatory for the first time for the financial year beginning January 1, 2022, and have not been early adopted: \u2022 Amendments to IAS 1 \u2013 Presentation of Financial Statements: Classification of Liabilities as current or non-current (effective January 1, 2023, but not yet endorsed in EU), affect only the presentation of liabilities in the statement of financial position \u2014 not the amount or timing of recognition of any asset, liability income or expenses, or the information that entities disclose about those items. The amendments provide a more general approach to the classification of liabilities under IAS 1 based on the contractual arrangements in place at the reporting date.\u2022 Amendments to IAS 1 \u2013 Presentation of Financial Statements and IFRS Practice Statement 2: Disclosure of Accounting policies (effective January 1, 2023). The amendments aim to improve accounting policy disclosures and to help users of the financial statements to distinguish between changes in accounting estimates and changes in accounting policies. The IAS 1 amendment requires companies to disclose their material accounting policy information rather than their significant accounting policies. Further, the amendment to IAS 1 clarifies that immaterial accounting policy information need not be disclosed. To support this amendment, the Board also amended IFRS Practice Statement 2, \u2018Making Materiality Judgements\u2019, to provide guidance on how to apply the concept of materiality to accounting policy disclosures.\u2022 Amendments to IAS 8 \u2013 Accounting policies, Changes in Accounting Estimates and Errors: Definition of Accounting Estimates (effective January 1, 2023). The amendments to IAS 8 clarify how companies should distinguish changes in accounting policies from changes in accounting estimates.\u2022 Amendments to IAS 12 \u2013 Income Taxes: Deferred Tax related to Assets and Liabilities arising from a Single Transaction (effective January 1, 2023). The amendments clarify how companies account for deferred tax on transactions such as leases and decommissioning obligations. The main change in the amendments is an exemption from the initial recognition exemption of IAS 12. Accordingly, the initial recognition exemption does not apply to transactions in which equal amounts of deductible and taxable temporary differences arise on initial recognition. The Group does not expect that the above-mentioned new pronouncements will have a material impact on the consolidated financial statements.1.2 Critical accounting judgements and estimatesIn order to prepare the financial statements in accordance with IFRS, management has to make judgements, estimates and assumptions which have an impact on the financial statements and notes. Estimates and judgements made on the reporting date reflect existing conditions on that date (for example: market prices, interest rates and foreign exchange rates). Estimates and judgements are continuously evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Though these estimates are made by management based on maximum knowledge of ongoing business and of the actions that the Group may undertake, the actual results may be different.The estimates and judgements that could have an impact on the consolidated financial statements are listed below:\u2022 Initial and subsequent measurement goodwill (see note 12);\u2022 Measurement of intangible assets (see note 13);\u2022 Measurement of post-employment benefits (see note 22) and;\u2022 Measurement of financial derivatives and other financial instruments (see note 26).Nevertheless, the Company does not expect that the above-mentioned accounting judgements and estimates will have a significant impact on the operations of the Group.The Group operates in and is impacted by global or regional macroeconomic and political environments which include the COVID-19 pandemic and the war in Ukraine. The macro-economic environment and company-specific conditions in 2022 were challenging. There are unprecedented increases in costs and accompanying necessary price increases, large and urgent capacity investments that needed to come onstream and increased risk of disruptions and delays in the supply chain. On top of that, the war in Ukraine led to increased uncertainties in energy and raw material markets and further rising input costs for raw materials, packaging materials, utilities, transport, and labour as a consequence. Notwithstanding the challenges, Lotus Bakeries showed resilience in 2022 and reports a strong performance in terms of high-quality top-line growth, margin management, cash flow protection, and investment execution.There is no material direct impact of Russia\u2019s invasion of Ukraine and the sanctions imposed on the strategy, targets, operations, financial performance, financial position and cash-flows of the Group. Revenue has not been materially impacted. No additional principal risks or uncertainties have been identified as a result of Russia\u2019s invasion of Ukraine and related events. The war has impacted the interest rates and inflation trends. Consequently, the discount rate used to determine the recoverable amount in the context of impairment tests in accordance with IAS 36 has been updated to reflect these developments, but has not led to any risk of impairment.Next to the above items, the Company considers the climate change and its sustainability commitments as one of the main items to include in the determination of future estimates and judgements. As such, the Company is aware that climate change can create disruptions in the supply chain and in the operating activities. However, at this stage, the Company assessed the impact of climate change and its sustainability commitments on the current accounting policies, estimates and judgements and concluded that there are currently no significant changes required.1.3 Consolidation principles The consolidated financial statements comprise the financial statements of Lotus Bakeries NV and its subsidiaries (collectively referred to as the \u2018Group\u2019). Intercompany balances and transactions between Group companies are eliminated.Subsidiaries Subsidiaries are entities controlled by the Group. The Group has control over an investee when it is exposed to, or has the right to, variable returns arising from its involvement with the investee and has the ability to affect those returns through its power over the investee. The financial statements of the subsidiaries are included in the consolidation scope as from the date that the Group obtains control until the date such control ceases.Acquisition of subsidiaries is accounted for according to the acquisition method. The cost of the acquisition of a subsidiary is the fair value of the assets transferred, the liabilities incurred and the equity interests issued by the Group. The cost includes the fair value of any asset or liability resulting from a contingent consideration agreement. Acquisition-related costs are expensed as incurred. Identifiable assets acquired, liabilities assumed and contingent liabilities assumed in a business combination are measured initially at their fair value at acquisition date. On an acquisition-by-acquisition basis, the Group recognises any non-controlling interest in the acquiree at fair value or at the non-controlling interest\u2019s proportionate share of the acquiree\u2019s net assets. The excess of the cost of the acquisition over the fair value of the Group\u2019s share of the identifiable net assets acquired is recorded as goodwill. If this is less than the fair value of the net assets of the subsidiary in the case of a bargain purchase, the difference is recognised directly in the income statement.The financial statements of the subsidiaries have the same financial year as the Company and are prepared in accordance with the accounting principles of the Group.Investment in associatesAn associate is an entity over which the Group has significant influence and that is neither a subsidiary nor an interest in a joint arrangement. Significant influence is the power to participate in the financial and operating policy decisions of the investee but is not control or joint control over those policies.In its consolidated financial statements, the Group uses the equity method of accounting for investments in associates. Under the equity method, the investment is initially recognised at cost in the consolidated statement of financial position and adjusted thereafter to recognise the Group\u2019s share of the profit or loss and other comprehensive income of the associate.An investment in an associate is accounted for using the equity method from the date on which the investee becomes an associate. On acquisition of the investment, any excess of the cost of the investment over the Group\u2019s share of the net fair value of the identifiable assets and liabilities of the investee is recognised as goodwill, which is included in the carrying amount of the investment. Any excess of the Group\u2019s share of the net fair value of the identifiable assets and liabilities over the cost of the investment, after reassessment, is recognised immediately in profit or loss in the period in which the investment is acquired. The Group discontinues the use of the equity method from the date when the investment ceases to be an associate or when the investment is classified as held for sale.Liabilities related to put options granted to non-controlling interests The Group granted put options to non-controlling interests in a subsidiary, giving the holders the right to sell part or all of their investment in the subsidiary to the Company. This put option on non-controlling interests (own equity instrument) gives rise to a gross liability that is initially recognised against equity and measured at the present value of the redemption amount (exercise price) in accordance with IAS 32 \u2013 Financial Instruments: presentation. This financial liability is included in the other non-current liabilities. This gross liability is subsequently measured at fair value. The difference between the value of the non-controlling interest and the fair value of the liability is allocated to the retained earnings (Group share), which are included in shareholders\u2019 equity.This liability is adjusted at the end of each reporting period to reflect changes in the estimated exercise price of the option and the carrying amount of non-controlling interests. If the option comes to maturity without exercising, the liability is derecognised against non-controlling interests and retained earnings (Group share).1.4 Foreign currencies Items included in the financial statements of each of the Group\u2019s entities are measured using the currency of the primary economic environment in which the entity operates (\u2018the functional currency\u2019). The consolidated financial statements are presented in euro, the Group\u2019s reporting currency. Transactions in foreign currencies Transactions in foreign currencies are translated into the functional currency using the exchange rate applicable on the date of the transaction. Monetary assets and liabilities in foreign currencies are translated at the closing rate on the reporting date. Resulting foreign exchange gains and losses are recognised in the income statement.Foreign exchange gains and losses that relate to interest-bearing liabilities and cash and cash equivalents are presented in the income statement within financial result. All other foreign exchange gains and losses are presented in the income statement within operating result.Financial statements of foreign entities For foreign entities using a different functional currency than the euro:\u2022 Assets and liabilities are translated to the euro using the exchange rate on the reporting date;\u2022 Items of income and expenses are translated at average exchange rate and;\u2022 Equity items are translated at the historical exchange rate.The resulting translation differences are recognised in other comprehensive income and accumulated in a separate component of equity (translation differences). These translation differences remain in equity up to the disposal of the relevant entity. In case of disposal, the accumulated amount in equity is reclassified to the income statement as part of the result on disposal of the relevant foreign activity.Goodwill arising from the acquisition of a foreign entity and fair value adjustments to the carrying amount of the acquired assets and liabilities at the date of acquisition, are considered as assets and liabilities of the foreign activity and are translated at the exchange rate on the reporting date. The Group has no entities in hyperinflationary economies. Exchange rates The following exchange rates were used in preparing the financial statements:CLOSING RATE AVERAGE RATE2022 2021 2022 2021EUR/CHF 0.985 1.033 1.005 1.081 EUR/CNY 7.358 7.195 7.075 7.629 EUR/CZK 24.116 24.858 24.570 25.643 EUR/GBP 0.887 0.840 0.852 0.860 EUR/KRW 1,344.090 1,346.380 1,357.681 1,354.032 EUR/SEK 11.122 10.250 10.624 10.145 EUR/THB 36.835 37.653 36.800 37.891 EUR/USD 1.067 1.133 1.054 1.183 EUR/ZAR 18.099 18.063 17.210 17.472 1.5 GoodwillGoodwill arising from a business combination is initially measured at cost (i.e., the excess between the cost of the business combination and the Group\u2019s interest in the fair value of the identifiable assets acquired, liabilities assumed and contingent liabilities assumed). After initial recognition, goodwill is measured at cost less accumulated impairment losses, if any.Goodwill is tested for impairment annually or more often if events or changes in circumstances indicate that the carrying amount may have been impaired. For the purpose of impairment testing, goodwill acquired in a business combination is, from acquisition date onwards, allocated to each of the Group\u2019s cash generating units that are expected to benefit from the combination, irrespective of whether other assets or liabilities of the acquiree are assigned to those units. 1.6 Intangible assets Intangible assets which are acquired separately are measured initially at cost. After initial recognition, intangible assets are measured at cost less accumulated amortisations and impairment losses. Intangible assets acquired upon acquisition of a subsidiary or as a result of the acquisition of a customer portfolio, are recognised separately in the statement of financial position at their estimated fair value at acquisition date. Costs for internally generated intangible assets are recognised in the income statement as incurred, unless they meet the criteria to be considered as development costs. Intangible assets with a finite useful life are amortised on a straight-line basis over the estimated useful life and reviewed for impairment whenever there is an indication that the intangible asset may be impaired. Amortisation begins when the intangible asset is available for its intended use.Intangible assets with indefinite useful lives are not amortised but tested for impairment annually or whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. The indefinite useful life is re-assessed annually to determine whether the indefinite life continues to be supportable. If not, the change in useful life from indefinite to finite is made prospectively. Investments in software and licences are amortised over a period of three to five years. The brands acquired in acquisitions, or the value of the customer portfolios obtained through acquisition are amortised on a straight-line basis over a maximum period of ten years, except when the brand has an indefinite useful life. 1.7 Property, plant and equipment Property, plant and equipment is measured at cost less accumulated depreciation and impairment losses. Cost includes the purchase price and any costs directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. The cost of self-produced assets includes direct material costs, direct labour costs and a proportional part of the production overhead.Costs of maintenance and repair of property, plant and equipment are capitalised if the cost can be measured reliably and the expenditure will result in a future economic benefit. All other costs are recognised as operating expenses when incurred. If an item property, plant and equipment consists of different components and each component has different useful lives, the separate components are depreciated according to their respective useful lives. Depreciation is calculated on a straight-line basis over the estimated useful lives of the assets. Depreciation of an asset begins when the asset is available for its intended use. The estimated useful lives are as follows: Buildings, incl. warehouses 25-30 yearsPlant and machinery 15-25 yearsFurniture 15 yearsTrucks 10 yearsOffice equipment and motor vehicles 5 yearsComputer equipment 3-5 yearsLand is not depreciated considering that it has an indefinite useful life. The depreciation methods, residual values and the useful lives of the property,plant and equipment is reassessed and adjusted if appropriate, annually. 1.8 Leases A lease exists if the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration. Leases are recognised as a right-of-use asset and corresponding liability at the date the leased asset is available for use by the Group. The right-of-use assets are presented in the consolidated statement of financial position within the line item \u2018Property, plant and equipment\u2019.The Group recognises right-of-use assets at cost, which consists of the initial measurement of the corresponding lease liabilities and any initial direct costs less lease incentives received. These assets are generally depreciated on a straight-line basis over the lease term and are subject to impairment. If it is reasonably certain that the Group will exercise a purchase option, the asset shall be depreciated on a straight-line basis over its useful life. Lease liabilities are measured at the present value of following future lease payments over the lease term:\u2022 Fixed payments (less any lease incentives);\u2022 Variable lease payments that are based on an index or rate;\u2022 The exercise price of a purchase option if the Group is reasonably certain to exercise that option;\u2022 Payments of penalties for terminating the lease, if the lease term reflects the Group exercising that option.The above lease payments are discounted using the interest rate implicit in the lease, if it can be determined, or the Group\u2019s incremental borrowing rate, i.e. the rate of interest that a lessee would have to pay to borrow over a similar term, and with a similar security, the funds necessary to obtain an asset of a similar value to the right-of-use asset in a similar economic environment.The Group is exposed to potential future increases in variable lease payments based on an index or rate, which are not included in the lease liability until they take effect. When adjustments to lease payments based on an index or rate take effect, the lease liability is reassessed and adjusted against the right-of-use asset.For leases with a term of 12 months or less (short-term leases) or leases of low-value items to which the Group applies the recognition exemptions available in IFRS 16, lease payments are recognised on a straight-line basis as an expense over the lease term. 1.9 Government grants Government grants are recognised at fair value when it is probable that they will be received and that the Group will comply with the conditions attached to the grant. If the grant is related to a cost item, the grant is systematically recognised as income over the periods required to attribute these grants to the costs which they are intended to compensate. When the grant is related to an asset, it is presented in the statement of financial position as a deduction from the related asset. Grants are recognised in income net of the depreciation of the related asset. 1.10 Impairment of non-financial assets For the Group\u2019s non-financial assets, other than deferred tax assets, the Group assesses at each reporting date, whether there is an indication that an asset may be impaired. If any indication exists, or when annual impairment testing for an asset is required, the Group estimates the asset\u2019s recoverable amount. The recoverable amount is determined for an individual asset, unless the asset does not generate cash inflows that are largely independent of those from other assets or groups of assets. An asset\u2019s recoverable amount is the higher of an asset\u2019s or cash generating unit\u2019s fair value less costs of disposal and the value in use. In assessing value in use, the estimated future cash flows are discounted using a pre-tax discount rate that reflects current market assessment of the time value of money and the risks specific to the asset or cash generating unit. When the carrying amount exceeds the recoverable amount, an impairment loss is recognised as an operating expense in the income statement.A previously recognised impairment loss is reversed where there has been a change in the assumptions used to determine the recoverable amount. Thus, the impairment loss no longer exists or has been reduced. An increase in the carrying amount of an asset resulting from the reversal of an impairment cannot be higher than the carrying amount (after depreciation) that would have been determined had no impairment loss been recognised in prior years.An impairment loss recognised on goodwill is never reversed in a subsequent period.1.11 Financial assets The Group classifies its financial assets in the following categories: financial assets at fair value and financial assets at amortised cost. The classification depends on the entity\u2019s business model for managing the financial assets and the contractual terms of the cash flows. Management determines the classification of its financial assets at initial recognition. Regular purchases and sales of financial assets are recognised on the trade date \u2013 the date on which the Group commits to purchase or sell an asset.At initial recognition, the Group measures a financial asset at its fair value plus, in the case of a financial asset not at fair value through profit or loss, transaction costs that are directly attributable to the acquisition of the financial asset. Transaction costs of financial assets carried at fair value through profit or loss are expensed in profit or loss.Financial assets at amortised costFinancial assets (such as loans, trade receivables, cash and cash equivalents) are subsequently measured at amortised cost using the effective interest method, less any impairment if they are held for collection of contractual cash flows where those cash flows represent solely payments of principal and interest.The effective interest method is a method of calculating the amortised cost of a debt instrument and of allocating interest income over the relevant period. The effective interest rate is the rate that exactly discounts estimated future cash receipts (including all fees and points paid or received that form an integral part of the effective interest rate, transaction costs and other premiums or discounts) through the expected life of the debt instrument, or, where appropriate, a shorter period, to the net carrying amount on initial recognition.Trade and other receivables after and within one year are recognised initially at fair value and subsequently measured at amortised cost, i.e. at the net present value of the receivable amount, using the effective interest rate method, less allowances for impairment.The Group assesses on a forward-looking basis the expected credit losses associated with its financial assets carried at amortised cost. For trade receivables, the Group applies the simplified approach permitted by IFRS 9 \u2013 Financial Instruments, which requires expected lifetime losses to be recognised from initial recognition of the receivables.The amount of the allowance is deducted from the carrying amount of the asset and is recognised in the income statement under \u2018Impairment on inventories andtrade receivables\u2019. Financial assets at fair valueFinancial assets at fair value consist of equity instruments held in companies in which the Group does not exercise control nor significant influence. An irrevocable election can be made at initial recognition to measure the investment subsequently at fair value through other comprehensive income (FVTOCI), with dividend income recognised in the income statement. This classification is determined on an instrument-by-instrument basis. As such, changes in fair value are directly recognised in a separate component of other comprehensive income. For listed companies, the share price is the best estimate of the fair value. Investments for which no fair value can be determined, are recognised at historical cost.The Group assesses at each reporting date whether there is objective evidence that the asset is impaired. Objective evidence would include a significant or prolonged decline in the fair value of the investment below its cost. If the financial asset is sold or an impairment loss is recognised, the accumulated gains or losses recognised in equity are transferred to the income statement.Derecognition of financial assetsTrade receivables are no longer recognised when (1) the rights to receive cash flows from the trade receivables have expired, (2) the Group has transferred substantially all risks and rewards related to the receivables.The Group derecognises a financial asset only when the contractual rights to the cash flows from the asset expire, or when it transfers the financial asset and substantially all the risks and rewards of ownership of the asset to another entity. On derecognition of a financial asset, the difference between the asset\u2019s carrying amount and the sum of the consideration received and receivable is recognised in profit or loss.1.12 Inventories Inventories are measured at the lower of cost and net realisable value.For raw materials, consumables and goods for resale, cost is measured at the purchase price on a FIFO basis. The cost of finished products is the standard manufacturing cost price. This includes, in addition to direct production and material costs, a proportional part of the fixed and variable overhead costs based on the normal production capacity. The net realisable value is defined as the estimated selling price in the ordinary course of business, less the estimated cost of completion and the estimated costs necessary to make the sale.1.13 Cash and cash equivalents Cash and cash equivalents include cash in hand, bank balances (current and deposit accounts) and other short-term highly liquid investments with original maturities of three months or less.For the cash flow statement, cash and cash equivalents include cash and bank balances. Any negative cash is included under non-current interest-bearing liabilities in the statement of financial position.1.14 Non-current assets (or disposal groups) held for sale and discontinued operations A non-current asset (or a disposal group) is classified as held for sale if the carrying amount will be recovered principally through a sale transaction rather than through continuing use. A non-current asset (or a disposal group) classified as held for sale is recognised at the lower of the carrying amount and the fair value less costs to sell. An impairment test is performed on these assets at each reporting date.A disposal group qualifies as discontinued operation if it is a component of an entity that either has been disposed of, or is classified as held for sale, and:\u2022 Represents a major line of business or geographical area of operations;\u2022 Is part of a single coordinated plan to dispose of a separate major line of business or geographical area of operations or;\u2022 Is a subsidiary acquired exclusively with a view to resale.1.15 Share capital and treasury shares Ordinary shares are classified as equity. Where any Group company purchases the Company\u2019s equity share capital (treasury shares), the consideration paid is deducted from equity attributable to owners of the Company until the shares are cancelled or reissued. Incremental costs directly attributable to the issue of new shares are shown in equity as a deduction, net of tax, from the proceeds. Dividends payable to shareholders of the Company are recognised as a liability in the statement of financial position in the period in which the dividends are approved by the shareholders of the Company. 1.16 Financial liabilities Financial liabilities (including interest-bearing financial liabilities, trade payables and other financial liabilities) are classified at amortised cost, except for derivative instruments (see 1.17 further on). Interest-bearing financial liabilities are initially recognised at fair value less direct attributable transaction costs. After initial recognition, the interest-bearing financial liabilities will be recognised at the amortised cost price based on the effective interest rate method. The effective interest method is a method of calculating the amortised cost of a financial liability and of allocating interest expense over the relevant period. The effective interest rate is the rate that exactly discounts estimated future cash payments (including all fees and points paid or received that form an integral part of the effective interest rate, transaction costs and other premiums or discounts) through the expected life of the financial liability, or, where appropriate, a shorter period, to the net carrying amount on initial recognition.Trade payables and other debts are recognised at their nominal value.A financial obligation is derecognised once the obligation is fulfilled, settled or lapsed. Financial assets and liabilities are offset and the net amount is reported in the balance sheet when there is a legally enforceable right to offset the recognised amounts and there is an intention to settle on a net basis or realise the asset and settle the liability simultaneously.1.17 Derivative financial instruments The Group uses derivative financial instruments to limit risks from adverse exchange rate and interest rate fluctuations, including foreign exchange forward contracts and interest rate swaps. No derivatives are used for trading purposes. All regular purchases and sales of financial assets are recognised on transaction date.Financial derivatives are initially recognised at cost. After initial recognition, these instruments are recognised at their fair value. Changes in fair value of the Group\u2019s derivatives that do not meet the criteria of IFRS 9 for hedge accounting, are recognised immediately in the income statement. Hedge accountingThe Group designates certain hedging instruments, which include derivatives in respect of foreign currency risk and interest rate risk, as cash flow hedges.The effective portion of the change in fair value of derivative financial instruments that are designated as cash flow hedges is recognised in other comprehensive income and accumulated in a separate equity reserve. The gain or loss on the ineffective portion is immediately recognised in the income statement. Amounts accumulated in equity are reclassified to the income statement in the periods in which the hedged position impacts the income statement. 1.18 Provisions Provisions are recognised in the statement of financial position if the Group has a present obligation (legal or constructive) resulting from a past event and if it is probable that fulfilment of these commitments will incur expenses that can be estimated reliably on reporting date. No provisions are recognised for future operating costs. Provisions are measured at the present value of the expenditures expected to be required to settle the obligation using a pre-tax rate that reflects current market assessments of the time value of money and the risks specific to the obligation. The increase in the provision due to passage of time is recognised as finance cost. RestructuringA provision for restructuring is recognised when a formal, detailed restructuring plan is approved by the Group and if this restructuring has either begun or been announced to the persons concerned.1.19 Employee benefits Short-term employee benefitsBonuses for employees and management are calculated based on key financial objectives and individual objectives. The estimated amount of the bonuses is recognised as an expense in the period in which the related services have been rendered, based on an estimate on the reporting date.Post-employment benefits (pension plans)Group companies operate various pension schemes. The Group has both defined benefit and defined contribution plans.A defined contribution plan is a pension plan under which the Group pays fixed contributions into a separate entity. The Group has no legal or constructive obligations to pay further contributions if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods. The contributions are recognised as employee benefit expense when they are due.In addition, there are also defined benefit pension plans in certain subsidiaries of the Group (mainly Germany, the Netherlands and France). Typically, defined benefit plans define an amount of pension benefit that an employee will receive on retirement, usually dependent on one or more factors such as age, years of service and compensation.For the defined benefit pension plans, the liability is measured at the present value of the defined benefit obligation at the end of the reporting period less the fair value of plan assets. The defined benefit obligation is calculated annually by independent actuaries using the projected unit credit method.Defined benefit costs are divided into 2 categories: \u2022 Current service cost, past service cost, gains and losses on curtailments and settlements;\u2022 Net interest expense or income. The current and past service cost, the net interest expense, the remeasurement of other long-term personnel expenses, administrative expenses and taxes for the reporting period are included in the personnel expenses in the income statement. The remeasurement on the net defined benefit liability as a consequence of actuarial gains or losses is included in other comprehensive income. Share-based payments The stock option plan allows employees to acquire shares in the Company at relatively advantageous conditions. The exercise price of the option is equal to the average stock market closing price of the Lotus Bakeries share during the thirty calendar days preceding the date of offering. A personnel cost is recognised for options granted to employees as part of the stock option plan. The cost is determined based on the fair value of the stock options on the grant date and, together with an equal increase in equity, is recognised over the vesting period, ending on the date when the employees receive full right to the options. When the options are exercised, the proceeds received net of any directly attributable transaction costs are credited to share capital (nominal value) and share premium.1.20 Revenue recognition Revenue is included in the income statement when it is probable that the Group will receive economic benefits from the transaction and the revenue can be measured reliably. Revenue of the Group is generated principally through the sale of goods with as only performance obligation the delivery of goods. Revenue recognition occurs at a point in time, when control of the asset is transferred to the customer, generally on delivery of the goods.Customer contracts include trade discounts or volume rebates, which are granted to the customer if the delivered quantities exceed a certain threshold. In these cases, the transaction price includes a variable consideration. The effect of the variable consideration on the transaction price is taken into account in revenue recognition by estimating the probability of the realisation of the discount or rebate for each contract. Furthermore, the Group considers all payments made to customers and whether these are related to the revenue generated from the customer.1.21 Income taxes Income taxes include current and deferred taxes. Both taxes are recognised in the income statement except if the underlying transaction has been recognised directly in other comprehensive income. If so, the related income taxes are also directly recognised in other comprehensive income.Current taxes include the amount of tax payable on the taxable earnings for the period calculated at the tax rate applicable on the reporting date. They also include adjustments to income tax liabilities for previous years. In line with IAS 12 \u2013 Income Taxes, management assesses on a periodic basis the positions taken in tax declarations in respect of items subject to interpretation in the tax legislation, and records, if necessary, additional income tax liabilities based on the expected amounts payable to the tax authorities. The assessment is made for all fiscal periods still subject to controls by the authorities. Deferred taxes are calculated using the balance sheet method and result mainly from temporary differences between the carrying amount of both assets and liabilities in the statement of financial position and their respective tax base. Deferred taxes are measured at the tax rates that are expected to apply in the year when the asset is realised or the liability is settled, based on tax rates (and tax laws) that have been enacted or substantively enacted at reporting date. Deferred taxes are recognised at their nominal value and are not discounted.Deferred tax assets from deductible temporary differences and unused tax losses carry forwards are recognised to the extent that it is probable that taxable profits will be available against which the deductible temporary differences, and the carry forward of unused tax credits and unused tax losses can be offset. The carrying amount of deferred tax assets is reassessed at each reporting date and reduced when it is no longer probable that the related tax savings can be generated. Unrecognised deferred tax assets are reassessed at each reporting date and are recognised to the extent that it is probable that future taxable profits allow the deferred tax asset to be recovered. Deferred tax assets and liabilities are offset when there is a legally enforceable right to set off current tax assets against current tax liabilities and the deferred taxes relate to the same taxable entity and the same taxation authority.1.22 Segment reporting Group revenue is centralised around a number of products that are all included in the traditional and natural snack segment. For these products, the Group is organised according to geographical regions for sales, production and internal reporting. The result of a segment includes the income and expenses directly generated by a segment. To this is added the portion of the income and expenses that can be reasonably attributed to the segment. Intersegment price-fixing is defined based on the \u2018at arm\u2019s length\u2019 principle. Considering that the chief operating decision maker does not review on a regular basis items of the statement of financial position per segment, segment assets and liabilities are not disclosed.2. CHANGES TO THE CONSOLIDATION SCOPEAcquisitions 2022On December 31, 2022, the Company finalised the acquisition of the remaining shares in Peter\u2019s Yard through its 100% subsidiary Lotus Bakeries International und Schweiz AG. Peter\u2019s Yard is a British artisanal sourdough company that produces healthy and delicious sourdough crackers and sourdough crisps made from only natural ingredients. As a brand, it has grown significantly over the last three years, doubling revenue in the UK to around GBP 6 million in revenue.TMPeter\u2019s Yard will become part of the Lotus Natural Foods business under the leadership of Isabelle Maes, CEO Natural Foods. The initial focus for Peter\u2019s Yard will be to further accelerate growth in the UK. The brand complements the TMexisting Lotus Natural Foods portfolio that contains the strong brands of n\u0101kd, BEAR, TREK and Kiddylicious.In July 2019, the Company acquired a 20% stake in Peter\u2019s Yard via its venture capital vehicle, Fast Forward 2032 (\u2018FF2032\u2019).The consideration paid for the business combination (remaining 80% share) amounts to EUR 9.6 million in cash.The assets acquired and liabilities assumed recognised in the consolidated statement of financial position at acquisition date and the amount of goodwill are presented in the following table:IN THOUSANDS OF EURRECOGNISED AMOUNTS OF IDENTIFIABLE ASSETS ACQUIRED AND LIABILITIES ASSUMED Cash and cash equivalents 433 Intangible assets 5,697 Right-of-use assets 651 Inventories 542 Trade and other receivables 2,290 Interest-bearing liabilities (502)Trade and other payables (1,950)Other current assets and liabilities (2,082)Deferred tax liabilities (890)Total identifiable net assets acquired 4,188Allocation to goodwill 7,876 TOTAL CONSIDERATION 12,064TOTAL CONSIDERATIONFair value of initial investment 2,425 Cash consideration 9,639 TOTAL CONSIDERATION 12,064The following table presents the impact of the acquisition of subsidiaries within the investing activities in the consolidated cash flow statement:IN THOUSANDS OF EUR TOTALConsideration paid in cash 9,639 Cash and cash equivalents acquired (433)ACQUISITION OF SUBSIDIARIES, NET OF CASH ACQUIRED 9,205Upon acquisition of Peter\u2019s Yard, the initial investment of 20% held by the Group through FF2032 has been remeasured at fair value in accordance with IFRS 3.The amounts above with respect to fair value of net assets acquired and goodwill are provisional as not all fair value measurements have been finalised.As a result of the acquisition accounting, the Company has allocated the purchase price (consideration paid) and has calculated the fair value of the assets acquired and liabilities assumed, in accordance with generally applied valuation rules. The purchase price was allocated to intangible assets (brands), which have been measured at fair value.Goodwill arose because the consideration for the combination effectively included amounts in relation to the benefit of expected synergies, revenue growth and future market development. Management deems that there is a strategic fit between the TMLotus Natural Foods business and Peter\u2019s Yard as they have complementing product offerings. The resulting goodwill is not tax deductible.The gross contractual amount of the trade receivables amounts to EUR 2.2 million, which equals the carrying amount. The Group has not incurred significant acquisition-related expenses. Considering that the acquisition was only finalised at the reporting date, Peter\u2019s Yard has not yet contributed to the Group\u2019s profit for the period.If the acquisition of Peter\u2019s Yard had been completed on the first day of the financial year, Group revenue for the year would have been approximately GBP 6 million higher and Group profit would not have been impacted significantly.Other changes to the consolidation scopeIn 2022, following entities have been liquidated or merged:\u2022 NBF USA Inc., merged into Lotus Bakeries North America Inc.;\u2022 FF2032 NV, liquidated;\u2022 Lotus Bakeries Chile SpA, liquidated.Furthermore, the Group has created a new entity in Thailand, Lotus Asia Pacifc Ltd., in the context of the establishment of a production facility for Lotus\u00ae Biscoff\u00ae to further support the Group\u2019s growth ambition for Lotus\u00ae Biscoff\u00ae.In 2021, Lotus Bakeries acquired all remaining shares of Lotus Bakeries Italia S.r.l. for an amount of EUR 274 thousands. Furthermore, FF2032 AG was founded.The complete list of companies included in the consolidation scope is disclosed in note 32.3. SEGMENT REPORTINGFor the purpose of sales, production and internal reporting, the Group is classified according to geographical regions. The regions presented in the segment reporting, which are based on the internal reporting system, are composed as follows:\u2022 Belgium: sales by Sales Office Belgium and intra-group sales by factories in Belgium;\u2022 France: sales by Sales Office France and intra-group sales by factories in France;\u2022 The Netherlands: sales by Sales Office The Netherlands and intra-group sales by factories in the Netherlands;\u2022 UK: sales by Sales Office UK, Natural Balance Foods, Urban Fresh Foods and Kiddylicious, and the intra-group sales by the factory in South-Africa;\u2022 Other: sales from Belgium to countries without own Sales Office and by own Sales Offices in Germany, Austria, Switzerland, the Czech Republic/Slovakia, United States, Spain, Italy, China, South Korea, Sweden/Finland as well as intra-group sales by factories in Sweden and the US.Sales between the various segments are carried out at arm\u2019s length.PERIOD ENDED DECEMBER 31, 2022ELIMINATIONS / IN THOUSANDS OF EUR BELGIUM FRANCE THE NETHERLANDS UK OTHERGROUP TOTAL SEGMENT REVENUE 358,123 107,929 81,100 224,754 342,041 (236,495) 877,451Revenue from external customers 182,834 94,588 79,956 197,584 322,490 - 877,451 Intersegment revenue 175,289 13,341 1,144 27,170 19,551 (236,495) -SEGMENT RESULTS (REBIT) 36,733 10,806 8,344 35,013 43,960 5,333 140,188 Non-recurring income and expenses (3,807) Operating result (EBIT) 136,381 Financial result (2,354) Profit for the period before taxes 134,027 Income taxes (30,744) Result after taxes 103,283 OTHER SEGMENT INFORMATION Capital expenditure:Tangible assets 58,277 1,013 1,962 6,091 68,181 6,428 141,952 Intangible assets - - - - 522 784 1,306 Depreciations and amortisations on (in)tangible assets 11,316 1,149 2,948 1,266 5,688 2,878 25,245 PERIOD ENDED DECEMBER 31, 2021ELIMINATIONS / IN THOUSANDS OF EUR BELGIUM FRANCE THE NETHERLANDS UK OTHERGROUP TOTAL SEGMENT REVENUE 324,701 105,170 84,459 195,266 233,248 (192,593) 750,251 Revenue from external customers 169,976 92,443 80,488 176,598 230,746 - 750,251 Intersegment revenue 154,725 12,727 3,971 18,668 2,502 (192,593) -SEGMENT RESULTS (REBIT) 39,166 7,043 10,152 34,377 23,569 9,498 123,805 Non-recurring income and expenses (4,135) Operating result (EBIT) 119,670 Financial result (2,373) Profit for the period before taxes 117,297 Income taxes (26,554) Result after taxes 90,743OTHER SEGMENT INFORMATION Capital expenditure:Tangible assets 29,730 619 2,043 2,970 18,135 4,196 57,693 Intangible assets - - 40 11 - 1,692 1,743 Depreciations and amortisations on (in)tangible assets 10,282 1,217 2,954 1,195 5,063 2,404 23,115 4. SERVICES AND OTHER GOODSServices and other goods include mainly commercial and marketing expenses, logistic expenses (transport and warehousing), professional fees (legal, accounting and consulting) and utilities.The increase compared to 2021 relates to increased sales and production volumes, next to increased costs of logistics and utilities.5. EMPLOYEE BENEFIT EXPENSES IN THOUSANDS OF EUR 2022 2021Short-term employee benefits 139,481 124,294 Social security contributions 21,789 19,690 Defined contribution costs 4,654 4,077 Defined benefit costs 303 128 Other employee benefit expenses 7,392 4,668 TOTAL EMPLOYEE BENEFIT EXPENSES 173,618 152,857Average number of employees 2,655 2,305 Number of employees as at the end of the year 2,698 2,398 The other employee benefit expenses include mainly the costs of training and other employee-related insurances.6. DEPRECIATION AND AMORTISATION EXPENSESIN THOUSANDS OF EUR 2022 2021Amortisation of intangible assets (see note 13) 1,033 1,086 Depreciation of property, plant and equipment (see note 14) 19,554 17,772 Depreciation of right-of-use assets (see note 14) 4,658 4,257 TOTAL DEPRECIATION AND AMORTISATION EXPENSES 25,245 23,1157. OTHER OPERATING INCOME AND EXPENSESThe other operating income consists primarily of external sales of raw materials and other non-core items, various costs recovered at the time of sale and indemnification payments.The other operating expenses include local indirect taxes (property taxes, municipal taxes, packaging tax \u2026) and penalties.8. NON-RECURRING INCOME AND EXPENSESNon-recurring income and expenses include operating income and expenses that do not belong to or derive from the recurring operating activities of the Group (normal course of business). This category includes primarily results from the disposal of fixed assets, any goodwill impairment losses, any impairment losses on fixed assets, expenses relating to the acquisition, disposal and start-up of new businesses, restructuring expenses and expenses relating to pandemics.IN THOUSANDS OF EUR 2022 2021Organisation restructuring (1,269) (326)Product range restructuring (1,081) (784)Office relocations (785) (1,323)Start-up costs related to capacity extensions (288) (835)Other (383) (867)TOTAL NON-RECURRING INCOME AND EXPENSES (3,807) (4,135) In 2022, as in 2021, the non-recurring result relates mainly to expenses of organisation restructuring, office relocation, acquisition costs, start-up costs for capacity extensions and product range restructuring.9. FINANCIAL RESULTIN THOUSANDS OF EUR 2022 2021Interest expenses (3,115) (2,883)Interest income 551 117 Interest income (expenses) (2,565) (2,766) Foreign exchange gains (losses) 988 886 Other financial income (expenses) (777) (493)TOTAL FINANCIAL RESULT (2,354) (2,373) The foreign exchange gains (losses) are related to the realisation and revaluation of financial positions mainly in GBP (pound sterling) and USD (US dollar).10. INCOME TAXESThe income tax recognised in the income statement can be detailed as follows:IN THOUSANDS OF EUR 2022 2021Current taxes in respect of the current year (29,417) (21,411)Current taxes in respect of the prior years (2,213) 1,885 Deferred taxes 885 (7,028)TOTAL INCOME TAX EXPENSE (30,744) (26,554) In 2021, there was a one-off negative impact on deferred taxes as a result of the corporate income tax rate increase to 25% in the UK as from April 2023. This is an accounting and non-cash effect. The average effective tax rate is 22.9%, compared to 22.6% in 2021.The income tax expense can be reconciled as follows:IN THOUSANDS OF EUR 2022 2021Result for the period before taxes 134,027 117,297 Legal tax rate 25.00% 25.00%Income tax expense computed at the legal tax rate (33,507) (29,324) Effect of different tax rates in other countries 2,481 2,020 Deductions of taxable income 1,472 2,646 Tax adjustments for prior years 429 4,193 Disallowed expenses (1,056) (736) Tax exempted income 66 5 Tax losses used for which no deferred tax asset has been recorded (21) 20 Changes in tax rate or new taxes (670) (4,901) Other 61 (477) TOTAL INCOME TAX EXPENSE (30,744) (26,554) Effective tax rate 22.9% 22.6%11. EARNINGS PER SHARE Basic earnings per share is calculated by dividing the Group\u2019s share in net profit by the weighted average number of outstanding shares over the year (total number of shares - treasury shares). Diluted earnings per share is calculated by dividing the Group\u2019s share in net profit by the weighted average number of outstanding shares over the year, adjusted for the potential dilution of ordinary shares as a result of options granted under the stock option plan for management (see note 20). IN THOUSANDS OF EUR 2022 2021Net result - Basic and diluted earnings per share 103,283 90,743 Attributable to non-controlling interests 43 (24) Attributable to equity holders of Lotus Bakeries 103,240 90,767 Weighted average number of shares - Basic earnings per share 810,858 811,550 Dilutive effect 1,249 2,127 Weighted average number of shares - Diluted earnings per share 812,106 813,677 BASIC EARNINGS PER SHARE (IN EUR) 127.37 111.81 Attributable to non-controlling interests 0.05 (0.03) Attributable to equity holders of Lotus Bakeries 127.32 111.84 DILUTED EARNINGS PER SHARE (IN EUR) 127.18 111.52 Attributable to non-controlling interests 0.05 (0.03) Attributable to equity holders of Lotus Bakeries 127.13 111.55 12. GOODWILLIN THOUSANDS OF EUR TOTALCarrying amount as at January 1, 2021 216,485 Effect of movements in foreign exchange rates 8,361 Carrying amount as at December 31, 2021 224,846 Acquisitions through business combinations 7,876 Effect of movements in foreign exchange rates (7,476)CARRYING AMOUNT AS AT DECEMBER 31, 2022 225,246 The addition in 2022 relates to the acquisition of Peter\u2019s Yard (see note 2), which TMwas allocated to the cash-generating unit Lotus Natural Foods.For sales, production and internal reporting, the Group is organised into geographic regions (see also segment reporting). The segments consist of underlying business units. These business units represent the lowest level within the Group at which the goodwill is monitored for internal management purposes. These business units are the cash-generating units to which goodwill is allocated. The carrying amount of goodwill has been allocated to the various independent cash-generating units as follows:IN THOUSANDS OF EUR DECEMBER 31, 2022 DECEMBER 31, 2021TMLotus Natural Foods (Natural Balance Foods, Urban Fresh Foods, Kiddylicious and Peter's Yard) 170,860 170,021 Belgium 20,773 20,773 The Netherlands 17,151 17,151 Asia 9,229 9,214 Nordics 5,528 5,984 Other 1,704 1,703 TOTAL GOODWILL 225,246 224,846Goodwill, representing approximately 21% of the total assets of Lotus Bakeries at December 31, 2022, is tested for impairment every year (or whenever there is a specific reason to do so) by comparing the carrying amount of each cash-generating unit (CGU) with its recoverable amount. The recoverable amount of a cash-generating unit is determined on the basis of the value in use. The value in use is determined as the present value of expected future cash flows based on the current long-term planning of the Group. The discount rate used in determining the present value of expected future cash flows is based on a weighted average cost of capital (WACC). The impairment test for goodwill is based on a number of critical judgements, estimates and assumptions. The assumptions are consistent and reasonable for all cash-generating units, which are mainly located in Europe and the UK: \u2022 Revenue and operating result: revenue and operating result reflects management\u2019s expectations based on past experience and taking into account the risks specific to the reportable business unit; \u2022 The first year of the model is based on the budget for the year, taking into account historical results and is management\u2019s best estimate of the free cash flow outlook for the current year; \u2022 In years two to three of the model, free cash flows are based on Lotus Bakeries\u2019 long-term plan. The long-term plan is prepared country by country, based on reasonable internal plans that take into account the specific market situation and the past; \u2022 Cash flows beyond the first three years are extrapolated by applying a perpetual growth rate, lying between 1.0% and 4.0%; \u2022 Projections are discounted at the pre-tax weighted average cost of capital, which lies between 6.1% and 7.5%.At the end of 2022, Lotus Bakeries has completed its annual impairment test of goodwill and concludes no impairment was present. The Company believes all its assessments to be reasonable: they are consistent with the internal reporting and reflect management\u2019s best estimates. As part of the impairment test, the Company carried out a sensitivity analysis for important assumptions used, including the weighted average cost of capital and long-term growth percentage. Here, a fall in the long-term growth percentage by 100 basis points and an increase in the weighted average cost of capital before tax by 100 basis points were applied. A change in the estimates used, as described above, does not lead to a potential material impairment. Although Lotus Bakeries believes that its assessments, assumptions and estimates are suitable, actual results may differ from these estimates in the event of changed assumptions and conditions.13. INTANGIBLE ASSETS CUSTOMER IN THOUSANDS OF EUR BRANDS SOFTWAREPORTFOLIO TOTALAcquisition cost 141,867 13,457 1,030 156,354 Accumulated amortisation and impairment losses (4,627) (10,817) (944) (16,388) Carrying amount as at January 1, 2021 137,240 2,640 86 139,966 Acquisitions - 1,743 - 1,743 Acquisitions through business combinations - - - -Amortisation expense - (1,000) (86) (1,086) Impairment losses - - - -Effect of movements in foreign exchange rates 4,101 22 - 4,123 Carrying amount as at December 31, 2021 141,341 3,404 - 144,745 Acquisition cost 145,968 15,222 1,030 162,220 Accumulated amortisation and impairment losses (4,627) (11,818) (1,030) (17,475)Acquisitions 522 784 - 1,307 Acquisitions through business combinations 5,697 - - 5,697 Amortisation expense - (1,033) - (1,033) Impairment losses - - - -Effect of movements in foreign exchange rates (3,987) 6 - (3,980) CARRYING AMOUNT AS AT DECEMBER 31, 2022 143,573 3,162 - 146,735 Acquisition cost 148,200 16,013 1,030 165,243Accumulated amortisation and impairment losses (4,627) (12,851) (1,030) (18,508)Intangible assets include brands and software investments. Software relates mainly to the capitalised external and internal costs connectedwith the further roll-out of the ERP information system SAP across the LotusBakeries Group. The portfolio concerns Spanish out-of-home customers acquired in 2011. Thiswas fully amortised at the end of 2021. The brands relate to the brands acquired by the Company over the years:\u2022 Peijnenburg: base brand in the Netherlands;\u2022 Dinosaurus: brand acquired in 2012;\u2022 Annas: base brand for the Nordic region and base brand for the pepparkakorproducts outside the Nordic region;\u2022 N\u0101kd: brand acquired in 2015 as part of the acquisition of Natural Balance Foods\u2022 BEAR: brand acquired in 2015 as part of the acquisition of Urban Fresh Foods\u2022 Kiddylicious: brand acquired in 2018;\u2022 Kung Oscar: brand acquired in 2022;\u2022 Peter\u2019s Yard: brand acquired in 2022.To invigorate its market leadership in the pepparkakor category in Sweden andfurther develop the category, the Company took the opportunity in 2022 toacquire the brand \u2018Kung Oscar\u2019 from the Orkla Group.The value of these brands was established as part of the valuation at fair value of the asset and liability components upon first consolidation. The brands are currently not amortised as the useful life is deemed to be indefinite. Therefore, an annual impairment test is performed to assess the recoverability of the brands.At year-end 2022, the Group tested the value of these brands to assess any recoverability issues. Taking into account the assumptions used, the value in use of the related cash-generating units exceeds its carrying amount and no impairment loss is recognised. A reasonable change of the key assumptions (discount rate, growth rate) would not result in the recognition of any impairment loss.For more details on the impairment test conducted per CGU, we refer to note 12 on goodwill.Although Lotus Bakeries believes that its assessments, assumptions and estimates are reasonable, actual results may differ from these estimates in the event of changed assumptions and conditions. Furthermore, the Group acquired Peter\u2019s Yard in 2022. For more details, we refer to note 2.During 2022, the Group has incurred research and development expenses of EUR 1,458 thousands (2021: EUR 1,473 thousands), which are mainly composed of employee benefit expenses and consumables.14. PROPERTY, PLANT AND EQUIPMENTPLANT, MACHINERY FURNITURE, OFFICE ASSETS UNDER IN THOUSANDS OF EUR LAND AND BUILDINGSAND EQUIPMENT EQUIPMENT AND VEHICLESCONSTRUCTION RIGHT-OF-USE ASSETS TOTALAcquisition cost 164,401 334,406 19,929 5,967 12,115 536,818 Accumulated depreciation and impairment losses (52,857) (205,174) (15,795) (149) (4,661) (278,636) Carrying amount as at January 1, 2021 111,544 129,232 4,134 5,818 7,454 258,182 Acquisitions 8,573 11,953 2,352 34,815 11,317 69,010 Disposals (421) (17) (615) - (2,079) (3,132) Depreciation expense (4,433) (12,188) (1,195) - (4,257) (22,073) Transfers from one heading to another 517 1,084 (70) (1,531) - -Effect of movements in foreign exchange rates 2,809 1,893 122 643 271 5,738 Carrying amount as at December 31, 2021 118,589 131,957 4,728 39,745 12,706 307,725 Acquisition cost 175,901 348,985 20,785 39,745 19,135 604,551 Accumulated depreciation and impairment losses (57,312) (217,028) (16,057) - (6,429) (296,826) Acquisitions 29,358 14,544 4,297 84,475 9,278 141,952 Acquisitions through business combinations - 651 - - - 651 Disposals (106) (130) (10) (94) (325) (665) Depreciation expense (4,896) (13,326) (1,332) - (4,658) (24,212) Impairment losses - - - - (519) (519) Transfers from one heading to another 4,587 11,576 (21) (16,142) - -Effect of movements in foreign exchange rates 1,703 1,434 96 419 (341) 3,311 CARRYING AMOUNT AS AT DECEMBER 31, 2022 149,235 146,706 7,758 108,403 16,142 428,243 Acquisition cost 209,647 369,907 25,014 108,403 23,098 736,069 Accumulated depreciation and impairment losses (60,412) (223,201) (17,256) - (6,957) (307,826) In 2022, a record amount of EUR 132,674 thousands has been invested in property, plant and equipment. In the Lotus\u00ae Biscoff\u00ae plant in Belgium, a second dough preparation room became operational. In the US, a second production hall with two new Lotus\u00ae Biscoff\u00ae production lines has been built, but became only operational as of the start of 2023. The US plant now has four operational production lines. In the context of the establishment of a production facility for Lotus\u00ae Biscoff\u00ae in Asia to further support the Group\u2019s growth ambition for Lotus\u00ae Biscoff\u00ae, land was acquired in Thailand.In 2021, EUR 57,693 thousands was invested in property, plant and equipment. In Belgium, investments were made in a new waffle line in Courcelles and in the new Lotus\u00ae Biscoff\u00ae Sandwich Cookie line in Lembeke. Further investments were made in the expansion of capacity at the BEAR factory in South Africa and the factory in the US.The carrying amount of the right-of-use assets arising from IFRS 16 \u2013 Leases is detailed as follows:IN THOUSANDS OF EUR DECEMBER 31, 2022 DECEMBER 31, 2021Land and buildings 11,766 8,131 Plant, machinery and equipment 223 282 Furniture, office equipment and vehicles 4,153 4,293 TOTAL RIGHT-OF-USE ASSETS 16,142 12,706 In 2022, additional right-of use assets relate mainly to the signing of new office leases in the UK and the US.In 2021, additional right-of-use assets consisted mainly of new and extended lease contracts for company cars and office buildings.During 2022 and 2021, no government grants have been granted to the Group.No pledges have been set on the items of property, plant and equipment.15. INVESTMENTS IN OTHER COMPANIESIn 2019, Lotus Bakeries created the corporate venture fund FF2032, establishing a platform for investment in promising brands and growth companies offering innovative products, technologies or market approaches within the food sector.The Group, through its subsidiary FF2032, has minority shares in:\u2022 Love Brands Inc., an American company which markets delicious crunchy corn snacks under the LOVE Corn name;\u2022 Partake Foods, operating in the American market with cookies that do not contain the top eight allergens;\u2022 Oot Granola, a Dutch brand which markets fresh, organic and gluten-free granolas that are low in sugars. Oot Granola has a purely online \u2018direct-to-consumer\u2019 concept;\u2022 The Good Crisp Company, an American company which produces natural, gluten-free chips, completely free of artificial flavourings and colourants;\u2022 IQBAR, an American company manufacturing a set of plant-based nutritional bars that contain six brain nutrients and that tick all the boxes in terms of nutritional profile.In 2021, the Group also had a minority share in Peter\u2019s Yard, a British company that markets sourdough crackers & crispbreads in the UK. The Group acquired in the course of 2022 the remaining shares in Peter\u2019s Yard and obtained as such control over the entity. See also note 2.In 2022, the Group, through its subsidiary FF2032, acquired additional minority stakes in Love Brands Inc. and The Good Crisp Company and a new minority stake in IQBAR, a US company, for a total amount of EUR 9,281 thousands.IQBAR\u2019s primary product line is a set of plant-based nutritional bars that contain six brain nutrients and that tick all the boxes in terms of nutritional profile. IQBAR initially gained traction through its own website sales and large e-commerce platforms. In addition to its strong online presence, IQBAR has consistently expanded its offline footprint and is currently sold in roughly 8,000 stores across the US, including several national chains. 16. INVENTORIES IN THOUSANDS OF EUR DECEMBER 31, 2022 DECEMBER 31, 2021Raw materials and consumables 20,261 16,061 Work in progress 5,288 2,978 Goods for resale and finished goods 44,812 38,862 TOTAL INVENTORIES 70,361 57,901 Write-down on inventories of EUR 3,519 thousands (2021: EUR 3,372 thousands) relate mainly to packaging material (2022: EUR 1,411 thousands; 2021: EUR 987 thousands), finished products (2022: EUR 1,297 thousands; 2021: EUR 1,053 thousands) and goods for resale (2022: EUR 542 thousands; 2021: EUR 1,236 thousands).17. TRADE AND OTHER RECEIVABLESIN THOUSANDS OF EUR DECEMBER 31, 2022 DECEMBER 31, 2021Trade receivables 111,558 95,075 Less allowance for impairment of trade receivables (803) (526)Trade receivables - net 110,755 94,549 VAT receivables 8,979 10,079 Other amounts receivable 339 536 Other receivables 9,318 10,615 TOTAL TRADE AND OTHER RECEIVABLES 120,074 105,164 The trade receivables represent an average of 46 days of customer credit (2021: 49 days). With regard to trade receivables there are no indications that debtors will not meet their payment obligations. Nor are there any customers representing more than 10% of the consolidated revenue. IFRS 9 requires the Company to recognise an allowance for expected losses on the recovery of trade receivables. This has no material impact. More information regarding the credit risk is disclosed in note 26.Movements on valuation for impairment of trade receivables are as follows:IN THOUSANDS OF EUR DECEMBER 31, 2022 DECEMBER 31, 2021Opening balance 526 697 Allowances recognised 472 12 Amounts written off during the year as uncollectible (159) (208) Exchange differences (37) 25 TOTAL ALLOWANCE FOR IMPAIRMENT OF TRADE RECEIVABLES 803 526 18. CASH AND CASH EQUIVALENTSCash and cash equivalents consist of balances on bank accounts at market conditions. The fair value of these cash and cash equivalents is therefore equal to the carrying amount.19. OTHER ASSETSThe other non-current and current assets include mainly cash guarantees and deferred charges relating to the operational activities of the Group.20. EQUITYShare capitalAll shares are ordinary shares, registered or dematerialised. The ordinary share capital of the Company issued and fully paid consists of 816,013 shares (2021: 816,013 shares), of which 5,072 treasury shares (2021: 4,110 treasury shares).The treasury shares have been purchased as part of the share option plans mentioned below.The following table presents the number of shares outstanding:SHARES TREASURY OUTSTANDING NUMBER OF SHARESISSUEDSHARESSHARESAs at January 1, 2021 816,013 (5,542) 810,471 Treasury shares delivered for share option plans - 1,432 1,432 Purchase/sale of treasury shares - - -As at December 31, 2021 816,013 (4,110) 811,903 Treasury shares delivered for share option plans - 1,381 1,381 Purchase/sale of treasury shares - (2,343) (2,343) AS AT DECEMBER 31, 2022 816,013 (5,072) 810,941 Further details of the shareholding structure of Lotus Bakeries NV as of December 31, 2022 are disclosed in the Corporate Governance Statement in Part 1 of the 2022 annual report of Lotus Bakeries.Capital risk management The objective of Lotus Bakeries is to ensure that the Group can continue to operate as a going concern in order to generate a return for shareholders and provide benefits for other stakeholders. Furthermore, the Group aims for a capital structure (balance between debt and equity) that gives it the required financial flexibility to implement its growth strategy. The aim is to maintain the ratio of net financial debt (defined as interest-bearing financial liabilities minus investments minus cash and cash equivalents minus treasury shares, and are reported excluding the \u2018lease liability\u2019 that results from the implementation of IFRS 16 Leases) to recurring operating cash flow (REBITDA) at what is considered as a reasonable level in the financial market.Share-based paymentsSince 2012, each financial year the Board of Directors grants stock options to executives and senior management, based on category, results and performance. In accordance with the terms of the plan, as approved by shareholders, employees may be granted options to purchase ordinary shares at an exercise price as mentioned further on. Each option gives the holder the right to purchase one ordinary Lotus Bakeries share at a fixed exercise price. The exercise price is equal to the average closing stock market price of the underlying share during the thirty calendar days prior to the offering date. The granted options have a term of five years. No amounts are paid or payable by the recipient on receipt of the option. The options carry neither rights to dividends nor voting rights. Options may be exercised at any time from the date of vesting to the date of their expiry.The stock options are only subject to services conditions so that it will vest gradually over the vesting period, i.e. three years. The options are exercisable if the option holder remains linked to the Company or a related entity as an employee or executive director. These rights are retained in the event of retirement, early retirement, invalidity or death. The stock option plans are considered equity-settled share-based payments.The fair value of the options is estimated at the grant date, using the binomial valuation model. This valuation model is based on the following market data and assumptions: the share price at the time of allotment, the exercise price, the exercise arrangements, the estimated volatility, the dividend expectations and the risk-free interest rate. The fair value of the share options is recognised linearly over the vesting period.The following table details the different plans granted and the assumptions used for the measurement of the fair value:GRANTED IN 2017 2018 2019 2020 2021 2022Number granted 1,846 1,179 1,199 962 660 792 Number exercised (1,593) (798) (60) (50) (33) -Number expired (253) (40) (50) (40) (26) -Available options - 341 1,089 872 601 792 Key assumptions used for fair value measurement 01/01/2021 - 01/01/2022 - 01/01/2023 - 01/01/2024 - 01/01/2025 - 01/01/2026 - Exercise period11/05/202214/05/202309/05/202407/05/202517/05/202630/06/2027Exercise price (EUR) 2,331.77 2,373.00 2,351.58 2,828.95 4,517.14 5,057.32 Share price (EUR) 2,459.00 2,310.00 2,330.00 2,890.00 4,630.00 4,868.81 Expected volatility 22.02% 22.43% 23.14% 25.07% 23.69% 25.39%Dividend yield 1.07% 0.93% 0.92% 0.95% 0.94% 0.97%Risk-free rate -0.12% 0.11% -0.29% -0.36% -0.34% 0.82%FAIR VALUE PER OPTION (EUR) 378.27 316.29 331.55 471.65 720.51 790.38 The volatility is based on daily share prices of Lotus Bakeries over the last three years.The following reconciles the options outstanding at the beginning and end of the year:WEIGHTED AVERAGE NUMBER EXERCISE PRICE (EUR)OF OPTIONSOutstanding options at January 1, 2021 2,395 5,267 Granted 4,517 660 Exercised 2,179 (1,379)Expired 1,702 (7)Outstanding options at December 31, 2021 2,770 4,541 Granted 5,057 792 Exercised 2,420 (1,492)Expired 2,864 (146)OUTSTANDING OPTIONS AT DECEMBER 31, 2022 3,398 3,695 In 2022, a total expense of EUR 470 thousands was recognised (2021: EUR 419 thousands).21. INTEREST-BEARING LIABILITIESIN THOUSANDS OF EUR DECEMBER 31, 2022 DECEMBER 31, 2021Bank loans 182,500 209,500 Lease liabilities 13,566 9,337 Non-current interest-bearing liabilities 196,066 218,837 Bank loans 66,000 14,000 Lease liabilities 4,178 3,439 Current interest-bearing liabilities 70,178 17,439 TOTAL INTEREST-BEARING LIABILITIES 266,244 236,276 of which bank loans 248,500 223,500 of which lease liabilities 17,744 12,776 All bank loans are denominated in EUR. These loans for the vast majority bear a fixed interest rate. The limited part carrying a floating rate (EURIBOR) is hedged using an interest rate swap (see note 26). The weighted average interest rate is 1.00%.The lease liabilities mainly relate to the lease of company cars and office buildings (see also note 14).The following table reconciles the movements of the interest-bearing liabilities to the cash flows arising from financing activities for the year ending December 31, 2022:NON-CASH MOVEMENTSAS AT EXCHANGE AS AT IN THOUSANDS OF EURJANUARY 1, 2022 CASH FLOWS ACQUISITIONDIFFERENCES RECLASSES OTHERDECEMBER 31, 2022Non-current interest-bearing liabilitiesBank loans 209,500 12,000 - - (39,000) - 182,500 Lease liabilities 9,337 - 9,847 (304) (4,990) (324) 13,566 Current interest-bearing liabilitiesBank loans 14,000 13,000 - - 39,000 - 66,000 Lease liabilities 3,439 (4,187) - (64) 4,990 - 4,178 TOTAL LIABILITIES FROM FINANCING ACTIVITIES 236,276 20,813 9,847 (368) - (324) 266,244 22. EMPLOYEE BENEFIT OBLIGATIONS The Group operates defined contribution plans and defined benefit plans. For the defined contribution plans, the Group pays contributions to insurance companies. Management of the pension plan is outsourced to an insurance company. For 2022, the expense amounts to EUR 4,654 thousands compared to EUR 4,077 thousands for 2021 (see also note 5 on employee benefit expenses). The Group has no further obligations next to these contributions.In the consolidated statement of financial position, the employee benefit liabilities consist of the following items:IN THOUSANDS OF EUR DECEMBER 31, 2022 DECEMBER 31, 2021Non-current employee benefit obligations 4,411 4,020 Current employee benefit obligations 232 333 TOTAL EMPLOYEE BENEFIT OBLIGATIONS 4,642 4,353 of which post-employment benefits 4,642 4,353 of which termination benefits - -The post-employment benefits are defined benefit pension plans granted by the Group in the Netherlands, France, Germany and Switzerland.Furthermore, as a result of the Belgian legislation applicable to pension plans (so-called \u2018Law Vandenbroucke\u2019), all Belgian defined contribution plans have to be considered under IFRS as defined benefit plans. This \u2018Law Vandenbroucke\u2019, which came into force in 2004, states that in the context of defined contribution plans, the employer must guarantee a minimum return of 3.75% on employee contributions and 3.25% on employer contributions. As from January 1, 2016, these percentages have been reviewed and adjusted to a single rate which varies with the market rates, subject to a minimum of 1.75% and a maximum of 3.75%, reducing the risk for the employer. Because of this minimum guaranteed return for defined contribution plans in Belgium, the employer is exposed to a financial risk (there is a legal obligation to pay further contributions if the fund does not hold sufficient assets to pay all employee benefits relating to employee service in the current and prior periods). These plans should therefore be classified and accounted for as defined benefit plans under IAS 19.The following tables reconcile the amounts recognised in the statement of financial position, the income statement and the statement of comprehensive income:IN THOUSANDS OF EUR 2022 2021Defined benefit obligation 10,882 10,127 Fair value of plan assets (6,240) (5,774) TOTAL POST-EMPLOYMENT OBLIGATIONS (FUNDED STATUS) 4,642 4,353 Current service cost 303 128 Past service cost - -Service cost recognised as part of employee benefit expenses 303 128 Net interest expenses on post-employment liabilities 55 8 Total defined benefit cost (income statement) 357 136 Remeasurements of defined benefit plans (other comprehensive income) 91 268 The following table reconciles the post-employment obligations:IN THOUSANDS OF EUR 2022 2021Net liability as at January 1 4,353 4,065 Service cost 303 128 Net interest expenses 55 8 Remeasurements of defined benefit plans 91 268 Employer contributions (156) (116) Effect of movements in foreign exchange rates (4) -NET LIABILITY AS AT DECEMBER 31 4,642 4,353 For the defined benefit pension plan, the liabilities are measured on a discounted basis because they are settled many years after the employees render the related service. A qualified actuary has determined the present value of the defined benefit obligations and the fair value of the plan assets. These assets are held by an insurance company. The projected unit credit method was used to estimate the defined benefit obligations, the defined benefit cost and the remeasurements of the net liability. Provisions are determined by computing the actuarial value of future payments to the employees in question.The plan assets consist of insurance contracts.Expected contributions to post-employment benefit plans for the year ending December 31, 2023 are EUR 479 thousands.The principal assumptions used in determining post-employment obligations for the Group\u2019s plans are as follows:DECEMBER 31, 2022THE BELGIUMNETHERLANDS FRANCE GERMANY SWITZERLANDDiscount rate 3.12% 4.00% 3.12% 3.40% 2.24%Inflation rate 2.20% 1.50% 2.20% 2.20% 2.00%DECEMBER 31, 2021THE BELGIUMNETHERLANDS FRANCE GERMANYDiscount rate 0.35% 1.00% 0.00% 0.90%Inflation rate 1.80% 1.00% 1.80% 1.75%Through its defined benefit plans, the Group is exposed to a number of risks, the most relevant are detailed below: \u2022 Changes in bond yields: a decrease in corporate bond yields will increase plan liabilities, although this will be partially offset by an increase in the value of the plan\u2019s bond holdings; \u2022 Salary risk: the majority of the plan\u2019s benefit obligations are calculated by reference to the future salaries of plan members. As such, a higher-than-expected salary increase of plan members will lead to higher liabilities; \u2022 Longevity risk: pension plans provide for benefits for the life of the plan members, so increases in life expectancy will result in an increase in the plan\u2019s liabilities. The actuary has performed a sensitivity analysis on the above actuarial assumptions. As such, both the discount rate and the inflation rate were altered by 50 basis points. A change in the estimates used does not lead to a material impact on the consolidated financial statements.23. TRADE AND OTHER PAYABLESIN THOUSANDS OF EUR DECEMBER 31, 2022 DECEMBER 31, 2021Trade payables 140,003 125,315 Employee benefit liabilities 29,725 26,515 VAT payables 1,186 402 Other payables 2,080 2,144 Other payables 32,992 29,061 TOTAL TRADE AND OTHER PAYABLES 172,995 154,377 Increase in trade and other payables relates mainly to higher outstanding payables at year-end as a result of the significant investment projects launched during 2022.24. OTHER LIABILITIES The other non-current liabilities relate to put options granted to third parties with respect to the remaining non-controlling interests in Natural Balance Foods Ltd., where these put options give holders the right to sell (part of) their investment in this subsidiary. At the end of December 2022, Lotus Bakeries held 97.9% of the shares, with the remaining 2.1% still held by the founders. These put options are unconditional and the exercise price depends on the future financial performance (revenue and operating result) of Natural Balance Foods Ltd. In accordance with IAS 32, where non-controlling interests hold put options giving them the right to sell their investment, a financial liability is recorded for the present value of the exercise price expected to be paid. These put options are classified as level 3 instruments in accordance with the fair value hierarchy of IFRS 7 \u2013 Financial Instruments: Disclosures. The counterpart of this liability is a cancellation of the underlying non-controlling interest. The difference between the value of the non-controlling interest and the fair value of the liability is added to the consolidated reserves, which are included in shareholders\u2019 equity.The other current liabilities include mainly accrued expenses and deferred income.25. DEFERRED AND CURRENT TAXESDeferred taxesThe deferred tax assets and liabilities can be reconciled as follows:AS AT RECOGNISED THROUGH RECOGNISEDBUSINESSEXCHANGEAS AT IN THOUSANDS OF EURJANUARY 1, 2022THE INCOME STATEMENTTHROUGH EQUITYCOMBINATIONSDIFFERENCESDECEMBER 31, 2022Intangible assets (33,588) 661 - (1,424) 963 (33,389) Property, plant and equipment (32,542) 584 - - (458) (32,416) Inventories 511 (271) - 13 (21) 232 Employee benefit obligations 991 (135) (12) - - 844 Other liabilities (2,225) (144) - 521 - (1,848) Derivative financial instruments 161 - (66) - - 95 Tax losses carried forward 5,023 (1,600) - - 226 3,649 Other (392) 1,790 - - (68) 1,331 TOTAL DEFERRED TAXES (62,061) 885 (78) (890) 642 (61,503) Of which deferred tax assets 2,182 2,212 Of which deferred tax liabilities (64,243) (63,716) AS AT RECOGNISED THROUGH RECOGNISEDBUSINESSEXCHANGEAS ATIN THOUSANDS OF EURJANUARI 1, 2021THE INCOME STATEMENTTHROUGH EQUITYCOMBINATIONSDIFFERENCESDECEMBER 31, 2021Intangible assets (27,136) (5,610) - - (842) (33,588) Property, plant and equipment (30,802) (1,319) - - (421) (32,542) Inventories 350 158 - - 3 511 Employee benefit obligations 800 255 (65) - 1 991 Other liabilities (2,018) (260) - - 53 (2,225) Derivative financial instruments 248 - (87) - - 161 Tax losses carried forward 8,794 (3,988) - - 217 5,023 Other (4,080) 3,736 - - (48) (392) TOTAL DEFERRED TAXES (53,844) (7,028) (152) - (1,037) (62,061) Of which deferred tax assets 3,351 2,182 Of which deferred tax liabilities (57,195) (64,243) The recognition of these deferred tax assets is supported by profit expectations in the foreseeable future.At year-end 2022, there are no unrecognised deferred tax assets.Current taxesThe current tax assets mainly relate to the excess of pre-payments made compared to the actual income tax payable for the year. The current tax liabilities include actual corporate taxes payable.26. FINANCIAL INSTRUMENTS AND FINANCIAL RISK MANAGEMENT26.1 Overview of financial instruments The table below summarises all financial instruments by category in accordance with IFRS 9:IN THOUSANDS OF EUR IFRS 9 CATEGORY DECEMBER 31, 2022 DECEMBER 31, 2021Current financial assets 187,190 226,709 Trade receivables At amortised cost 110,755 94,549 Cash and cash equivalents At amortised cost 76,435 132,160 TOTAL FINANCIAL ASSETS 187,190 226,709 Non-current financial liabilities 197,938 221,071 Interest-bearing liabilities At amortised cost 196,066 218,837 Derivative financial instruments Designated in a cash flow hedge 107 371 Other non-current liabilities At fair value through P&L 1,765 1,863 Current financial liabilities 210,181 142,754 Interest-bearing liabilities At amortised cost 70,178 17,439 Trade payables At amortised cost 140,003 125,315 TOTAL FINANCIAL LIABILITIES 408,118 363,826 The fair value of the financial assets and liabilities measured at amortised cost approximate their carrying amount.The financial instruments measured at fair value are grouped into Levels 1 to 3 based on the degree to which the fair value is observable:\u2022 Level 1 fair value measurements are those derived from quoted prices (unadjusted) in active markets for identical assets or liabilities;\u2022 Level 2 fair value measurements are those derived from 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);\u2022 Level 3 fair value measurements are those derived from valuation techniques that include input for the asset or liability that are not based on observable market data (unobservable input).The fair values of the derivatives of the Group are based on level 2 inputs as defined under IFRS 7.27.The fair value of the other non-current liabilities (put options, see note 24) is based on level 3 input.No transfers between the different fair value hierarchy levels took place in 2022 and 2021. The Group uses financial derivatives to cover risks from adverse exchange rate and interest rate fluctuations. No derivatives are used for trading purposes. The following table presents an overview of the derivative instruments outstanding at reporting date:FAIR VALUE NOTIONAL AMOUNTSIN THOUSANDS OF EUR DECEMBER 31, 2022 DECEMBER 31, 2021 DECEMBER 31, 2022 DECEMBER 31, 2021Designated in a cash flow hedgeInterest rate swaps 107 371 27,000 27,000 TOTAL DERIVATIVE FINANCIAL LIABILITIES 107 371 27,000 27,000 The derivative instruments presented in the table above are all designated in a cash flow hedge relationship.26.2 Financial risk managementThe Group\u2019s activities expose it to a variety of financial risks: market risk (including currency risk, interest rate risk and commodity price risk), credit risk and liquidity risk. Currency riskThe functional currency of the Company is EUR, which is also the Group\u2019s reporting currency. Translation gains or losses that result from remeasuring foreign subsidiaries\u2019 local currencies to EUR are recorded in other comprehensive income. Foreign currency transactions resulting in gains or losses are recorded in the consolidated income statement.As the Group is operating in various jurisdiction with different currencies, the Group is subject to foreign currency risks. The main foreign currency transactions (mainly sales and purchase transactions) take place in USD, GBP, SEK, ZAR, CNY, KRW, CZK and CHF. The Group did not enter into any currency hedging arrangements in order to cover this risk. The Group actively monitors its transactional currency exposures and consequently takes actions to mitigate any risks related to the outstanding foreign currency positions.The following table presents the carrying amounts of the Group\u2019s main foreign currency denominated monetary assets and monetary liabilities at the end of 2022:IN THOUSANDS OF EUR ASSETS LIABILITIESEUR 447,935 (688,719)USD 155,582 (145,307)GBP 39,108 (25,840)SEK 25,764 (26,744)ZAR 17,800 (9,574)CNY 8,789 (1,951)KRW 2,573 (174)CZK 1,322 (626)CHF 756 (305)Interest rate riskThe Group is exposed to interest rate risk because entities in the Group borrow funds at both fixed and floating interest rates. The risk is managed by the Group by maintaining an appropriate mix between fixed and floating rate borrowings, and by the use of interest rate swap contracts. Hedging activities are evaluated regularly to align with interest rate views and defined risk appetite, ensuring the most cost-effective hedging strategies are applied.As the Group mainly has fixed rate financial instruments and the floating rate debt is hedged using an interest rate swap at year-end 2022, it considers this risk to be limited and therefore no sensitivity analysis has been prepared.Commodity price riskCommodity price risk arises from transactions to purchase raw materials and energy on the market. The risk relates to the exposure of the Group to fluctuations in the prices of commodities which are necessary for the manufacturing of products.To mitigate the risk of unfavourable price evolutions, the Group enters into forward agreements with fixed prices for the key commodities (executory contracts) and closely monitors the price trends on the market.At year-end 2022, the Group did not enter into any hedging arrangements in order to cover this risk.Credit riskCredit risk is the risk that one party to an agreement will cause a financial loss to another party by failing to discharge its obligation. Credit risk covers trade receivables, cash and cash equivalents, short-term deposits and other financial assets.The credit risk is managed on a group basis. It is the Group\u2019s policy to deal with creditworthy partners to avoid significant risk exposure.The Group has a diversified international customer portfolio, consisting mainly of large retail, cash-and-carry and foodservice companies in various countries. For export outside Europe, the US, South Korea and China, the Group requires the use of letters of credits or credit insurance. Strict procedures and rules are in place to accurately monitor customers and mitigate and manage any potential risks as quickly and effectively as possible.For trade receivables, an impairment analysis is performed at each reporting date using a provision matrix to measure expected credit losses. The provision rates are based on days past due for groupings of various customer segments with similar loss patterns (i.e., by geographical region, product type). Available liquidities are placed with several highly reputable financial institutions.The maximum credit risk to which the Group is theoretically exposed as at the reporting date is the carrying amount of the financial assets.Liquidity riskThe Group manages liquidity risk by maintaining adequate reserves and reserve borrowing facilities, by continuously monitoring forecast and actual cash flows, and by matching the maturity profiles of financial assets and liabilities.The Group\u2019s main sources of cash inflows are currently obtained through capital increases and external financing through bank loans.The following table details the Group\u2019s remaining contractual maturity of its financial liabilities with agreed repayment periods. The table has been drawn up based on the undiscounted cash flows of financial liabilities based on the earliest date on which the Company can be required to pay. The table includes both interest and principal cash flows.DECEMBER 31, 2022IN THOUSANDS OF EUR WITHIN ONE YEAR >1 AND <5 YEARS >5 YEARSBank loans 66,540 176,615 12,950 Lease liabilities 4,178 9,648 3,918DECEMBER 31, 2021IN THOUSANDS OF EUR WITHIN ONE YEAR >1 AND <5 YEARS >5 YEARSBank loans 14,138 205,967 11,727 Lease liabilities 3,439 5,830 3,506 The unused committed credit lines amounted to EUR 193,100 thousands at year-end 2022 (2021: EUR 130,536 thousands).27. RELATED PARTIESA list of all Group companies is provided in note 32. Further details of the shareholding structure of Lotus Bakeries NV as at December 31, 2022 are disclosed in the Corporate Governance Statement in Part 1 of the 2022 annual report of Lotus Bakeries.Balances and transactions between Lotus Bakeries NV and its subsidiaries, which are related parties of the Company, have been eliminated in consolidation and are not disclosed in this note.Key management personnel is composed of all members of the Board of Directors and members of the Executive Committee. For information on the remuneration of the CEO, the remuneration of the executive managers and the remuneration of the board members in 2022, we refer to the remuneration report included in Part 1 of the 2022 annual report. Apart from the key management remuneration, no significant transactions occurred with related parties.28. COMMITMENTS Capital commitments As at December 31, 2022, the Group has EUR 15,122 thousands of commitments (2021: EUR 35,747 thousands) for the acquisition of property, plant and equipment.Contracts for raw materials and finished products Purchased but not yet delivered raw materials and finished products in 2023 and 2024 are detailed below:IN THOUSANDS OF EUR 2022Less than one year 112,971More than one year and less than five years 34,244TOTAL 147,215Other rights and commitments Bank guarantees as at December 31, 2022 amounted to EUR 1,543 thousands (2021: EUR 1,564 thousands). Lotus Bakeries commits itself not to dispose of, mortgage or pledge any fixed assets without prior consultation with the credit-granting institutions. These assets serve as guarantee for the loans (\u2018full negative pledge\u2019).29. SUBSEQUENT EVENTS No significant events have occurred since December 31, 2022 which would have a material impact on the 2022 financial statements.30. MANAGEMENT RESPONSIBILITY STATEMENT We hereby certify that, to the best of our knowledge, the consolidated financial statements for the year ended December 31, 2022, which have been prepared in accordance with IFRS (International Financial Reporting Standards), give a true and fair view of the assets, liabilities, financial position and profit or loss of the Company and the subsidiaries included in the consolidation as a whole, and that the annual report includes a fair review of the important events that have occurred during the year 2022 and of the major transactions with the related parties, and their impact on the consolidated financial statements, together with a description of the principal risks and uncertainties with which the company is confronted. Lembeke, March 20, 2023 On behalf of the Board of Directors Jan Boone, CEO31. AUDIT FEESIN THOUSANDS OF EUR 2022 2021Audit feesLotus Bakeries NV 152 88 Lotus Bakeries Group 443 401 Additional services rendered by the Auditor or its related partiesOther audit-related fees 111 65 Tax fees 43 107 Other non-audit fees 50 -TOTAL 799 661 32. CONSOLIDATION SCOPENAME ADDRESS VAT OR NATIONAL NUMBER 2022 2021% %Lotus Bakeries Belgi\u00eb NV Gentstraat 52, 9971 Lembeke, BE VAT BE 0421.694.038 100.00 100.00 Interwaffles SA Rue de Li\u00e8ge 39, 6180 Courcelles, BE VAT BE 0439.312.406 100.00 100.00 Lotus Bakeries Corporate NV Gentstraat 1, 9971 Lembeke, BE VAT BE 0881.664.870 100.00 100.00 Lotus Bakeries NV Gentstraat 1, 9971 Lembeke, BE VAT BE 0401.030.860 100.00 100.00 Cremers-Ribert NV Gentstraat 52, 9971 Lembeke, BE VAT BE 0427.808.008 100.00 100.00 B.W.I. BV Ambachtenstraat 5, 9900 Eeklo, BE VAT BE 0898.518.522 100.00 100.00 Biscuiterie Willems BV Nieuwendorpe 33 Bus C, 9900 Eeklo, BE VAT BE 0401.006.413 100.00 100.00 FF2032 NV Gentstraat 1, 9971 Lembeke, BE VAT BE 0730.550.847 - 100.00 Lotus Bakeries France SAS Place du Ch\u00e2teau 9 bis, 59560 Comines, F VAT FR93 320 509 755 100.00 100.00 Biscuiterie Vander SAS Place du Ch\u00e2teau 9 bis, 59560 Comines, F VAT FR28 472 500 941 100.00 100.00 Biscuiterie Le Glazik SAS 815 Avenue du Pays Glazik, 29510 Briec-de-l'Odet, F VAT FR95 377 380 985 100.00 100.00 Enkhuizer Koekfabriek BV Oosterdijk 3e, 1601 DA Enkhuizen, NL VAT NL823011112B01 100.00 100.00 Koninklijke Peijnenburg BV Nieuwendijk 45, 5664 HB Geldrop, NL VAT NL003897187B01 100.00 100.00 Peijnenburg's Koekfabrieken BV Nieuwendijk 45, 5664 HB Geldrop, NL VAT NL001351576B01 100.00 100.00 WK Koek Bakkerij BV Streek 71, 8464 NE Sintjohannesga, NL VAT NL006634151B01 100.00 100.00 WK Koek Beheer BV Streek 71, 8464 NE Sintjohannesga, NL VAT NL006634199B01 100.00 100.00 Lotus Bakeries Nederland BV Nieuwendijk 45, 5664 HB Geldrop, NL VAT NL004458953B01 100.00 100.00 Lotus Bakeries GmbH Ro\u00dfstra\u00dfe 92, 40476 Dusseldorf, DE VAT DE 811 842 770 100.00 100.00 Lotus Bakeries R\u00e9assurances SA 74, Rue de Merl, 2146 Luxembourg, L R.C.S. Luxembourg B53262 100.00 100.00 Lotus Bakeries International und Schweiz AG Neuhofstrasse 24, 6340 Baar, CH VAT CHE-105.424.218 100.00 100.00 FF2032 AG Neuhofstrasse 24, 6340 Baar, CH VAT CHE-241.819.783 100.00 100.00 NAME ADDRESS VAT OR NATIONAL NUMBER 2022 2021% %Lotus Bakeries CZ s.r.o. Americk\u00e1 415/36, 120 00 Praha 2, CZ VAT CZ 271 447 55 100.00 100.00Lotus Bakeries North America Inc. 1000 Sansome Street Suite 350, San Francisco, CA 94111-1323, USA IRS 94-3124525 100.00 100.00 NBF USA Inc. 1000 Sansome Street Suite 350, San Francisco, CA 94111-1323, USA C3598146 - 100.00Lotus Bakeries US, LLC 2010 Park Center Drive, Mebane, NC 27302, USA IRS 82-1300286 100.00 100.00 Lotus Bakeries US Manufacturing, LLC 2010 Park Center Drive, Mebane, NC 27302, USA IRS 82-2542596 100.00 100.00 Lotus Bakeries Austria GmbH Fleischmarkt 1/6/12, 1010 Wien, AT VAT ATU72710827 100.00 100.00Lotus Bakeries UK Ltd. First Floor Premises, Whitecroft House, 51 Water Lane, Wilmslow, Cheshire SK9 5BQ, UK VAT GB 896 168 761 100.00 100.00Natural Balance Foods Ltd. Second floor, 45 Grosvenor Road, St. Albans, AL1 3AW, UK VAT GB 841 254 348 97.90 97.90 Urban Fresh Foods Ltd. Second floor, 45 Grosvenor Road, St. Albans, AL1 3AW, UK VAT GB 883 060 032 100.00 100.00 The Kids Food Company Ltd. Second floor, 45 Grosvenor Road, St. Albans, AL1 3AW, UK VAT GB 977 396 157 100.00 100.00 Peter's Yard Wholesale Ltd. Brassey Road, Old Potss Way 1 GB-SY3 7FA Shrewsbury UK VAT GB 938 740 100 100.00 -Lotus Bakeries Espana S.L. C/ Severo Ochoa, 3, 2a Planta Oficina 8A, 28232 Las Rozas (Madrid), ES VAT ESB80405137 100.00 100.00 AB Annas Pepparkakor Radiov\u00e4gen 23, SE 135 48 Tyres\u00f6, SE VAT SE556149914501 100.00 100.00 Annas - Lotus Bakeries Holding AB Radiov\u00e4gen 23, SE 135 48 Tyres\u00f6, SE Registration no. 556757-7241 100.00 100.00Inland Revenue Department file no. Lotus Bakeries Asia Pacific Limited 5/F, Manulife, 348 Kwun Tong Road, Kowloon, HK100.00 100.00 22/51477387Lotus Bakeries Biscuits Trading (Shanghai) Company Ltd. Room 01.02.06, Floor 15, No. 511 Weihai Road, Jing'an Disctrict, Shanghai 200041, P.R. CN Registration no. 913100000781169357 100.00 100.00 Lotus Bakeries Chile SpA Nueva Tajamar #555 OF401, Las Condes, Santiago, 7550099 CL VAT (RUT) 76.215.081-6 - 100.00 Lotus Bakeries Italia S.r.l. Regus Dante Cairoli, Via Dante 16, Quartiere Castello, 20121 Milan, IT VAT IT03029890211 100.00 100.00 Lotus Bakeries Korea Co. Ltd. 4/F, AIA Tower, 16 Tongil-ro-2-gil, Jung-gu, Seoul 04511, KR Registration no. 128-81-19621 100.00 100.00 Lotus South Africa Manufacturing Ltd. Erf 4109 Voortrekker Road, Wolseley, Western Cape 6830, ZA VAT 4190279762 100.00 100.00 Summer Hill, Unit TT11, 3rd Floor, No. 1106 Sukhumvit Road, Phrakhanong Sub-district, Lotus Asia PacificVAT 0105565109964 100.00 -Klongtoey District, Bangkok 10110, Thailand33. ALTERNATIVE PERFORMANCE MEASURESREATREAT is defined as the recurring earnings after tax and is determined by excluding the non-recurring income and expenses and the related tax effects from the net result. REAT is used as the basis for dividend distribution.IN THOUSANDS OF EUR 2022 2021Net result 103,283 90,743 Non-recurring income and expenses 3,807 4,135 Tax effect on non-recurring income and expenses (873) (935)REAT 106,216 93,942REBIT REBIT (recurring operating result) is defined as the operating result after deducting the non-recurring income and expenses.REBITDAREBITDA is defined as the REBIT adjusted for depreciations and amortisation expenses, impairments on inventories and trade receivables and non-cash costs related to share-based payment plans.IN THOUSANDS OF EUR 2022 2021Operating result (EBIT) 136,381 119,670 Non-recurring income and expenses 3,807 4,135 REBIT 140,188 123,805Depreciation and amortisation expenses 25,245 23,115 Impairment on inventories and trade receivables 3,992 3,384 Other 484 665 REBITDA 169,909 150,967Non-recurring income and expensesNon-recurring income and expenses are those items that are considered by management not to relate to transactions, projects and adjustments to the value of assets and liabilities taking place in the ordinary course of activities of the Company. Non-recurring income and expenses are presented separately, due to their size or nature, so as to allow users of the consolidated financial statements of the Company to get a better understanding of the normalised performance of the Company. Non-recurring income and expenses relate to:\u2022 Expenses relating to business combinations and other acquisitions ofinvestments;\u2022 Changes to the Group structure, including costs related to the liquidation ofsubsidiaries and the closure, opening or relocations of activities;\u2022 Impairment of assets and major litigations.Net financial debtNet financial debt is defined as interest-bearing liabilities (excluding lease liabilities recognised in accordance with IFRS 16) deducted with cash and cash equivalents and treasury shares. IN THOUSANDS OF EUR 2022 2021Interest-bearing liabilities (note 21) 266,244 236,276 Minus lease liabilities recognised as a result of IFRS 16 (17,241) (12,776)Minus cash and cash equivalents (76,435) (132,160)Minus treasury shares (18,976) (9,514)NET FINANCIAL DEBT 153,591 81,826", "dimensions": { "concept": "ifrs-full:DisclosureOfNotesAndOtherExplanatoryInformationExplanatory", "language": "en", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "pp-value-10-3": { "value": "1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES1.1 Basis of presentation The consolidated financial statements of the Group have been prepared in accordance with the International Financial Reporting Standards (IFRS), as adopted by the European Union (EU). These consolidated financial statements are presented in thousands of EUR and present the financial situation as at December 31, 2022. Due to rounding, numbers presented throughout these consolidated financial statements may not add up precisely to the totals provided and percentages may not precisely reflect the absolute figures.The accounting principles have been consistently applied to all periods presented and are consistent with those applied in the audited consolidated financial statements for the year ended December 31, 2021 of the Group.The consolidated financial statements have been prepared based on the historical cost methodology, except for certain financial instruments for which the fair value is used.These financial statements are prepared on an accrual basis and on the assumption that the Group is in going concern and will continue in operation in the foreseeable future.", "dimensions": { "concept": "ifrs-full:DisclosureOfBasisOfConsolidationExplanatory", "language": "en", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "pp-value-10-4": { "value": "1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES1.1 Basis of presentation The consolidated financial statements of the Group have been prepared in accordance with the International Financial Reporting Standards (IFRS), as adopted by the European Union (EU). These consolidated financial statements are presented in thousands of EUR and present the financial situation as at December 31, 2022. Due to rounding, numbers presented throughout these consolidated financial statements may not add up precisely to the totals provided and percentages may not precisely reflect the absolute figures.The accounting principles have been consistently applied to all periods presented and are consistent with those applied in the audited consolidated financial statements for the year ended December 31, 2021 of the Group.The consolidated financial statements have been prepared based on the historical cost methodology, except for certain financial instruments for which the fair value is used.These financial statements are prepared on an accrual basis and on the assumption that the Group is in going concern and will continue in operation in the foreseeable future.", "dimensions": { "concept": "ifrs-full:DisclosureOfBasisOfPreparationOfFinancialStatementsExplanatory", "language": "en", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "pp-value-11-4": { "value": "These financial statements are prepared on an accrual basis and on the assumption that the Group is in going concern and will continue in operation in the foreseeable future.", "dimensions": { "concept": "ifrs-full:DisclosureOfGoingConcernExplanatory", "language": "en", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "pp-value-12-2": { "value": "The Group has adopted the following relevant new standards, amendments to standards or interpretations for the first time for the financial year beginning January 1, 2022 and have been endorsed by the European Union: \u2022 Amendments to IAS 16 \u2013 Proceeds before Intended Use: The amendments prohibit deducting from the cost of an item of property, plant and equipment any proceeds from selling items produced while bringing that asset to the location and condition necessary for it to be capable of operating in the manner intended by management.\u2022 Amendments to IAS 37 \u2013 Onerous Contracts \u2013 Cost of Fulfilling a Contract: The amendments clarify the costs a company should include as the cost of fulfilling a contract when assessing whether a contract is onerous.\u2022 Annual Improvements 2018-2020: The annual improvements package includes the following minor amendments: Subsidiary as a First-time Adopter (Amendment to IFRS 1); Fees in the \u201810 per cent\u2019 Test for Derecognition of Financial Liabilities (Amendment to IFRS 9); Lease Incentives (Amendment to Illustrative Example 13 of IFRS 16); Taxation in Fair Value Measurements (Amendment to IAS 41).The following relevant new standards, amendments to standards or interpretations have been published, but are not yet mandatory for the first time for the financial year beginning January 1, 2022, and have not been early adopted: \u2022 Amendments to IAS 1 \u2013 Presentation of Financial Statements: Classification of Liabilities as current or non-current (effective January 1, 2023, but not yet endorsed in EU), affect only the presentation of liabilities in the statement of financial position \u2014 not the amount or timing of recognition of any asset, liability income or expenses, or the information that entities disclose about those items. The amendments provide a more general approach to the classification of liabilities under IAS 1 based on the contractual arrangements in place at the reporting date.\u2022 Amendments to IAS 1 \u2013 Presentation of Financial Statements and IFRS Practice Statement 2: Disclosure of Accounting policies (effective January 1, 2023). The amendments aim to improve accounting policy disclosures and to help users of the financial statements to distinguish between changes in accounting estimates and changes in accounting policies. The IAS 1 amendment requires companies to disclose their material accounting policy information rather than their significant accounting policies. Further, the amendment to IAS 1 clarifies that immaterial accounting policy information need not be disclosed. To support this amendment, the Board also amended IFRS Practice Statement 2, \u2018Making Materiality Judgements\u2019, to provide guidance on how to apply the concept of materiality to accounting policy disclosures.\u2022 Amendments to IAS 8 \u2013 Accounting policies, Changes in Accounting Estimates and Errors: Definition of Accounting Estimates (effective January 1, 2023). The amendments to IAS 8 clarify how companies should distinguish changes in accounting policies from changes in accounting estimates.\u2022 Amendments to IAS 12 \u2013 Income Taxes: Deferred Tax related to Assets and Liabilities arising from a Single Transaction (effective January 1, 2023). The amendments clarify how companies account for deferred tax on transactions such as leases and decommissioning obligations. The main change in the amendments is an exemption from the initial recognition exemption of IAS 12. Accordingly, the initial recognition exemption does not apply to transactions in which equal amounts of deductible and taxable temporary differences arise on initial recognition. The Group does not expect that the above-mentioned new pronouncements will have a material impact on the consolidated financial statements.", "dimensions": { "concept": "ifrs-full:DisclosureOfChangesInAccountingPoliciesAccountingEstimatesAndErrorsExplanatory", "language": "en", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "pp-value-12-3": { "value": "The Group has adopted the following relevant new standards, amendments to standards or interpretations for the first time for the financial year beginning January 1, 2022 and have been endorsed by the European Union: \u2022 Amendments to IAS 16 \u2013 Proceeds before Intended Use: The amendments prohibit deducting from the cost of an item of property, plant and equipment any proceeds from selling items produced while bringing that asset to the location and condition necessary for it to be capable of operating in the manner intended by management.\u2022 Amendments to IAS 37 \u2013 Onerous Contracts \u2013 Cost of Fulfilling a Contract: The amendments clarify the costs a company should include as the cost of fulfilling a contract when assessing whether a contract is onerous.\u2022 Annual Improvements 2018-2020: The annual improvements package includes the following minor amendments: Subsidiary as a First-time Adopter (Amendment to IFRS 1); Fees in the \u201810 per cent\u2019 Test for Derecognition of Financial Liabilities (Amendment to IFRS 9); Lease Incentives (Amendment to Illustrative Example 13 of IFRS 16); Taxation in Fair Value Measurements (Amendment to IAS 41).The following relevant new standards, amendments to standards or interpretations have been published, but are not yet mandatory for the first time for the financial year beginning January 1, 2022, and have not been early adopted: \u2022 Amendments to IAS 1 \u2013 Presentation of Financial Statements: Classification of Liabilities as current or non-current (effective January 1, 2023, but not yet endorsed in EU), affect only the presentation of liabilities in the statement of financial position \u2014 not the amount or timing of recognition of any asset, liability income or expenses, or the information that entities disclose about those items. The amendments provide a more general approach to the classification of liabilities under IAS 1 based on the contractual arrangements in place at the reporting date.\u2022 Amendments to IAS 1 \u2013 Presentation of Financial Statements and IFRS Practice Statement 2: Disclosure of Accounting policies (effective January 1, 2023). The amendments aim to improve accounting policy disclosures and to help users of the financial statements to distinguish between changes in accounting estimates and changes in accounting policies. The IAS 1 amendment requires companies to disclose their material accounting policy information rather than their significant accounting policies. Further, the amendment to IAS 1 clarifies that immaterial accounting policy information need not be disclosed. To support this amendment, the Board also amended IFRS Practice Statement 2, \u2018Making Materiality Judgements\u2019, to provide guidance on how to apply the concept of materiality to accounting policy disclosures.\u2022 Amendments to IAS 8 \u2013 Accounting policies, Changes in Accounting Estimates and Errors: Definition of Accounting Estimates (effective January 1, 2023). The amendments to IAS 8 clarify how companies should distinguish changes in accounting policies from changes in accounting estimates.\u2022 Amendments to IAS 12 \u2013 Income Taxes: Deferred Tax related to Assets and Liabilities arising from a Single Transaction (effective January 1, 2023). The amendments clarify how companies account for deferred tax on transactions such as leases and decommissioning obligations. The main change in the amendments is an exemption from the initial recognition exemption of IAS 12. Accordingly, the initial recognition exemption does not apply to transactions in which equal amounts of deductible and taxable temporary differences arise on initial recognition. The Group does not expect that the above-mentioned new pronouncements will have a material impact on the consolidated financial statements.", "dimensions": { "concept": "ifrs-full:DisclosureOfChangesInAccountingPoliciesExplanatory", "language": "en", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "pp-value-15-2": { "value": "1.2 Critical accounting judgements and estimatesIn order to prepare the financial statements in accordance with IFRS, management has to make judgements, estimates and assumptions which have an impact on the financial statements and notes. Estimates and judgements made on the reporting date reflect existing conditions on that date (for example: market prices, interest rates and foreign exchange rates). Estimates and judgements are continuously evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Though these estimates are made by management based on maximum knowledge of ongoing business and of the actions that the Group may undertake, the actual results may be different.The estimates and judgements that could have an impact on the consolidated financial statements are listed below:\u2022 Initial and subsequent measurement goodwill (see note 12);\u2022 Measurement of intangible assets (see note 13);\u2022 Measurement of post-employment benefits (see note 22) and;\u2022 Measurement of financial derivatives and other financial instruments (see note 26).Nevertheless, the Company does not expect that the above-mentioned accounting judgements and estimates will have a significant impact on the operations of the Group.The Group operates in and is impacted by global or regional macroeconomic and political environments which include the COVID-19 pandemic and the war in Ukraine. The macro-economic environment and company-specific conditions in 2022 were challenging. There are unprecedented increases in costs and accompanying necessary price increases, large and urgent capacity investments that needed to come onstream and increased risk of disruptions and delays in the supply chain. On top of that, the war in Ukraine led to increased uncertainties in energy and raw material markets and further rising input costs for raw materials, packaging materials, utilities, transport, and labour as a consequence. Notwithstanding the challenges, Lotus Bakeries showed resilience in 2022 and reports a strong performance in terms of high-quality top-line growth, margin management, cash flow protection, and investment execution.There is no material direct impact of Russia\u2019s invasion of Ukraine and the sanctions imposed on the strategy, targets, operations, financial performance, financial position and cash-flows of the Group. Revenue has not been materially impacted. No additional principal risks or uncertainties have been identified as a result of Russia\u2019s invasion of Ukraine and related events. The war has impacted the interest rates and inflation trends. Consequently, the discount rate used to determine the recoverable amount in the context of impairment tests in accordance with IAS 36 has been updated to reflect these developments, but has not led to any risk of impairment.Next to the above items, the Company considers the climate change and its sustainability commitments as one of the main items to include in the determination of future estimates and judgements. As such, the Company is aware that climate change can create disruptions in the supply chain and in the operating activities. However, at this stage, the Company assessed the impact of climate change and its sustainability commitments on the current accounting policies, estimates and judgements and concluded that there are currently no significant changes required.Goodwill, representing approximately 21% of the total assets of Lotus Bakeries at December 31, 2022, is tested for impairment every year (or whenever there is a specific reason to do so) by comparing the carrying amount of each cash-generating unit (CGU) with its recoverable amount. The recoverable amount of a cash-generating unit is determined on the basis of the value in use. The value in use is determined as the present value of expected future cash flows based on the current long-term planning of the Group. The discount rate used in determining the present value of expected future cash flows is based on a weighted average cost of capital (WACC). The impairment test for goodwill is based on a number of critical judgements, estimates and assumptions. The assumptions are consistent and reasonable for all cash-generating units, which are mainly located in Europe and the UK: \u2022 Revenue and operating result: revenue and operating result reflects management\u2019s expectations based on past experience and taking into account the risks specific to the reportable business unit; \u2022 The first year of the model is based on the budget for the year, taking into account historical results and is management\u2019s best estimate of the free cash flow outlook for the current year; \u2022 In years two to three of the model, free cash flows are based on Lotus Bakeries\u2019 long-term plan. The long-term plan is prepared country by country, based on reasonable internal plans that take into account the specific market situation and the past; \u2022 Cash flows beyond the first three years are extrapolated by applying a perpetual growth rate, lying between 1.0% and 4.0%; \u2022 Projections are discounted at the pre-tax weighted average cost of capital, which lies between 6.1% and 7.5%.At the end of 2022, Lotus Bakeries has completed its annual impairment test of goodwill and concludes no impairment was present. The Company believes all its assessments to be reasonable: they are consistent with the internal reporting and reflect management\u2019s best estimates. As part of the impairment test, the Company carried out a sensitivity analysis for important assumptions used, including the weighted average cost of capital and long-term growth percentage. Here, a fall in the long-term growth percentage by 100 basis points and an increase in the weighted average cost of capital before tax by 100 basis points were applied. A change in the estimates used, as described above, does not lead to a potential material impairment. Although Lotus Bakeries believes that its assessments, assumptions and estimates are suitable, actual results may differ from these estimates in the event of changed assumptions and conditions.The value of these brands was established as part of the valuation at fair value of the asset and liability components upon first consolidation. The brands are currently not amortised as the useful life is deemed to be indefinite. Therefore, an annual impairment test is performed to assess the recoverability of the brands.At year-end 2022, the Group tested the value of these brands to assess any recoverability issues. Taking into account the assumptions used, the value in use of the related cash-generating units exceeds its carrying amount and no impairment loss is recognised. A reasonable change of the key assumptions (discount rate, growth rate) would not result in the recognition of any impairment loss.For more details on the impairment test conducted per CGU, we refer to note 12 on goodwill.Although Lotus Bakeries believes that its assessments, assumptions and estimates are reasonable, actual results may differ from these estimates in the event of changed assumptions and conditions. For the defined benefit pension plan, the liabilities are measured on a discounted basis because they are settled many years after the employees render the related service. A qualified actuary has determined the present value of the defined benefit obligations and the fair value of the plan assets. These assets are held by an insurance company. The projected unit credit method was used to estimate the defined benefit obligations, the defined benefit cost and the remeasurements of the net liability. Provisions are determined by computing the actuarial value of future payments to the employees in question.The plan assets consist of insurance contracts.Expected contributions to post-employment benefit plans for the year ending December 31, 2023 are EUR 479 thousands.The principal assumptions used in determining post-employment obligations for the Group\u2019s plans are as follows:DECEMBER 31, 2022THE BELGIUMNETHERLANDS FRANCE GERMANY SWITZERLANDDiscount rate 3.12% 4.00% 3.12% 3.40% 2.24%Inflation rate 2.20% 1.50% 2.20% 2.20% 2.00%DECEMBER 31, 2021THE BELGIUMNETHERLANDS FRANCE GERMANYDiscount rate 0.35% 1.00% 0.00% 0.90%Inflation rate 1.80% 1.00% 1.80% 1.75%Through its defined benefit plans, the Group is exposed to a number of risks, the most relevant are detailed below: \u2022 Changes in bond yields: a decrease in corporate bond yields will increase plan liabilities, although this will be partially offset by an increase in the value of the plan\u2019s bond holdings; \u2022 Salary risk: the majority of the plan\u2019s benefit obligations are calculated by reference to the future salaries of plan members. As such, a higher-than-expected salary increase of plan members will lead to higher liabilities; \u2022 Longevity risk: pension plans provide for benefits for the life of the plan members, so increases in life expectancy will result in an increase in the plan\u2019s liabilities. The actuary has performed a sensitivity analysis on the above actuarial assumptions. As such, both the discount rate and the inflation rate were altered by 50 basis points. A change in the estimates used does not lead to a material impact on the consolidated financial statements.The fair value of the financial assets and liabilities measured at amortised cost approximate their carrying amount.The financial instruments measured at fair value are grouped into Levels 1 to 3 based on the degree to which the fair value is observable:\u2022 Level 1 fair value measurements are those derived from quoted prices (unadjusted) in active markets for identical assets or liabilities;\u2022 Level 2 fair value measurements are those derived from 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);\u2022 Level 3 fair value measurements are those derived from valuation techniques that include input for the asset or liability that are not based on observable market data (unobservable input).The fair values of the derivatives of the Group are based on level 2 inputs as defined under IFRS 7.27.The fair value of the other non-current liabilities (put options, see note 24) is based on level 3 input.", "dimensions": { "concept": "ifrs-full:DisclosureOfAccountingJudgementsAndEstimatesExplanatory", "language": "en", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "pp-value-18-2": { "value": "1.3 Consolidation principles The consolidated financial statements comprise the financial statements of Lotus Bakeries NV and its subsidiaries (collectively referred to as the \u2018Group\u2019). Intercompany balances and transactions between Group companies are eliminated.Subsidiaries Subsidiaries are entities controlled by the Group. The Group has control over an investee when it is exposed to, or has the right to, variable returns arising from its involvement with the investee and has the ability to affect those returns through its power over the investee. The financial statements of the subsidiaries are included in the consolidation scope as from the date that the Group obtains control until the date such control ceases.Acquisition of subsidiaries is accounted for according to the acquisition method. The cost of the acquisition of a subsidiary is the fair value of the assets transferred, the liabilities incurred and the equity interests issued by the Group. The cost includes the fair value of any asset or liability resulting from a contingent consideration agreement. Acquisition-related costs are expensed as incurred. Identifiable assets acquired, liabilities assumed and contingent liabilities assumed in a business combination are measured initially at their fair value at acquisition date. On an acquisition-by-acquisition basis, the Group recognises any non-controlling interest in the acquiree at fair value or at the non-controlling interest\u2019s proportionate share of the acquiree\u2019s net assets. The excess of the cost of the acquisition over the fair value of the Group\u2019s share of the identifiable net assets acquired is recorded as goodwill. If this is less than the fair value of the net assets of the subsidiary in the case of a bargain purchase, the difference is recognised directly in the income statement.The financial statements of the subsidiaries have the same financial year as the Company and are prepared in accordance with the accounting principles of the Group.Investment in associatesAn associate is an entity over which the Group has significant influence and that is neither a subsidiary nor an interest in a joint arrangement. Significant influence is the power to participate in the financial and operating policy decisions of the investee but is not control or joint control over those policies.In its consolidated financial statements, the Group uses the equity method of accounting for investments in associates. Under the equity method, the investment is initially recognised at cost in the consolidated statement of financial position and adjusted thereafter to recognise the Group\u2019s share of the profit or loss and other comprehensive income of the associate.An investment in an associate is accounted for using the equity method from the date on which the investee becomes an associate. On acquisition of the investment, any excess of the cost of the investment over the Group\u2019s share of the net fair value of the identifiable assets and liabilities of the investee is recognised as goodwill, which is included in the carrying amount of the investment. Any excess of the Group\u2019s share of the net fair value of the identifiable assets and liabilities over the cost of the investment, after reassessment, is recognised immediately in profit or loss in the period in which the investment is acquired. The Group discontinues the use of the equity method from the date when the investment ceases to be an associate or when the investment is classified as held for sale.Liabilities related to put options granted to non-controlling interests The Group granted put options to non-controlling interests in a subsidiary, giving the holders the right to sell part or all of their investment in the subsidiary to the Company. This put option on non-controlling interests (own equity instrument) gives rise to a gross liability that is initially recognised against equity and measured at the present value of the redemption amount (exercise price) in accordance with IAS 32 \u2013 Financial Instruments: presentation. This financial liability is included in the other non-current liabilities. This gross liability is subsequently measured at fair value. The difference between the value of the non-controlling interest and the fair value of the liability is allocated to the retained earnings (Group share), which are included in shareholders\u2019 equity.This liability is adjusted at the end of each reporting period to reflect changes in the estimated exercise price of the option and the carrying amount of non-controlling interests. If the option comes to maturity without exercising, the liability is derecognised against non-controlling interests and retained earnings (Group share).1.4 Foreign currencies Items included in the financial statements of each of the Group\u2019s entities are measured using the currency of the primary economic environment in which the entity operates (\u2018the functional currency\u2019). The consolidated financial statements are presented in euro, the Group\u2019s reporting currency. Transactions in foreign currencies Transactions in foreign currencies are translated into the functional currency using the exchange rate applicable on the date of the transaction. Monetary assets and liabilities in foreign currencies are translated at the closing rate on the reporting date. Resulting foreign exchange gains and losses are recognised in the income statement.Foreign exchange gains and losses that relate to interest-bearing liabilities and cash and cash equivalents are presented in the income statement within financial result. All other foreign exchange gains and losses are presented in the income statement within operating result.Financial statements of foreign entities For foreign entities using a different functional currency than the euro:\u2022 Assets and liabilities are translated to the euro using the exchange rate on the reporting date;\u2022 Items of income and expenses are translated at average exchange rate and;\u2022 Equity items are translated at the historical exchange rate.The resulting translation differences are recognised in other comprehensive income and accumulated in a separate component of equity (translation differences). These translation differences remain in equity up to the disposal of the relevant entity. In case of disposal, the accumulated amount in equity is reclassified to the income statement as part of the result on disposal of the relevant foreign activity.Goodwill arising from the acquisition of a foreign entity and fair value adjustments to the carrying amount of the acquired assets and liabilities at the date of acquisition, are considered as assets and liabilities of the foreign activity and are translated at the exchange rate on the reporting date. The Group has no entities in hyperinflationary economies. Exchange rates The following exchange rates were used in preparing the financial statements:CLOSING RATE AVERAGE RATE2022 2021 2022 2021EUR/CHF 0.985 1.033 1.005 1.081 EUR/CNY 7.358 7.195 7.075 7.629 EUR/CZK 24.116 24.858 24.570 25.643 EUR/GBP 0.887 0.840 0.852 0.860 EUR/KRW 1,344.090 1,346.380 1,357.681 1,354.032 EUR/SEK 11.122 10.250 10.624 10.145 EUR/THB 36.835 37.653 36.800 37.891 EUR/USD 1.067 1.133 1.054 1.183 EUR/ZAR 18.099 18.063 17.210 17.472 1.5 GoodwillGoodwill arising from a business combination is initially measured at cost (i.e., the excess between the cost of the business combination and the Group\u2019s interest in the fair value of the identifiable assets acquired, liabilities assumed and contingent liabilities assumed). After initial recognition, goodwill is measured at cost less accumulated impairment losses, if any.Goodwill is tested for impairment annually or more often if events or changes in circumstances indicate that the carrying amount may have been impaired. For the purpose of impairment testing, goodwill acquired in a business combination is, from acquisition date onwards, allocated to each of the Group\u2019s cash generating units that are expected to benefit from the combination, irrespective of whether other assets or liabilities of the acquiree are assigned to those units. 1.6 Intangible assets Intangible assets which are acquired separately are measured initially at cost. After initial recognition, intangible assets are measured at cost less accumulated amortisations and impairment losses. Intangible assets acquired upon acquisition of a subsidiary or as a result of the acquisition of a customer portfolio, are recognised separately in the statement of financial position at their estimated fair value at acquisition date. Costs for internally generated intangible assets are recognised in the income statement as incurred, unless they meet the criteria to be considered as development costs. Intangible assets with a finite useful life are amortised on a straight-line basis over the estimated useful life and reviewed for impairment whenever there is an indication that the intangible asset may be impaired. Amortisation begins when the intangible asset is available for its intended use.Intangible assets with indefinite useful lives are not amortised but tested for impairment annually or whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. The indefinite useful life is re-assessed annually to determine whether the indefinite life continues to be supportable. If not, the change in useful life from indefinite to finite is made prospectively. Investments in software and licences are amortised over a period of three to five years. The brands acquired in acquisitions, or the value of the customer portfolios obtained through acquisition are amortised on a straight-line basis over a maximum period of ten years, except when the brand has an indefinite useful life. 1.7 Property, plant and equipment Property, plant and equipment is measured at cost less accumulated depreciation and impairment losses. Cost includes the purchase price and any costs directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. The cost of self-produced assets includes direct material costs, direct labour costs and a proportional part of the production overhead.Costs of maintenance and repair of property, plant and equipment are capitalised if the cost can be measured reliably and the expenditure will result in a future economic benefit. All other costs are recognised as operating expenses when incurred. If an item property, plant and equipment consists of different components and each component has different useful lives, the separate components are depreciated according to their respective useful lives. Depreciation is calculated on a straight-line basis over the estimated useful lives of the assets. Depreciation of an asset begins when the asset is available for its intended use. The estimated useful lives are as follows: Buildings, incl. warehouses 25-30 yearsPlant and machinery 15-25 yearsFurniture 15 yearsTrucks 10 yearsOffice equipment and motor vehicles 5 yearsComputer equipment 3-5 yearsLand is not depreciated considering that it has an indefinite useful life. The depreciation methods, residual values and the useful lives of the property,plant and equipment is reassessed and adjusted if appropriate, annually. 1.8 Leases A lease exists if the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration. Leases are recognised as a right-of-use asset and corresponding liability at the date the leased asset is available for use by the Group. The right-of-use assets are presented in the consolidated statement of financial position within the line item \u2018Property, plant and equipment\u2019.The Group recognises right-of-use assets at cost, which consists of the initial measurement of the corresponding lease liabilities and any initial direct costs less lease incentives received. These assets are generally depreciated on a straight-line basis over the lease term and are subject to impairment. If it is reasonably certain that the Group will exercise a purchase option, the asset shall be depreciated on a straight-line basis over its useful life. Lease liabilities are measured at the present value of following future lease payments over the lease term:\u2022 Fixed payments (less any lease incentives);\u2022 Variable lease payments that are based on an index or rate;\u2022 The exercise price of a purchase option if the Group is reasonably certain to exercise that option;\u2022 Payments of penalties for terminating the lease, if the lease term reflects the Group exercising that option.The above lease payments are discounted using the interest rate implicit in the lease, if it can be determined, or the Group\u2019s incremental borrowing rate, i.e. the rate of interest that a lessee would have to pay to borrow over a similar term, and with a similar security, the funds necessary to obtain an asset of a similar value to the right-of-use asset in a similar economic environment.The Group is exposed to potential future increases in variable lease payments based on an index or rate, which are not included in the lease liability until they take effect. When adjustments to lease payments based on an index or rate take effect, the lease liability is reassessed and adjusted against the right-of-use asset.For leases with a term of 12 months or less (short-term leases) or leases of low-value items to which the Group applies the recognition exemptions available in IFRS 16, lease payments are recognised on a straight-line basis as an expense over the lease term. 1.9 Government grants Government grants are recognised at fair value when it is probable that they will be received and that the Group will comply with the conditions attached to the grant. If the grant is related to a cost item, the grant is systematically recognised as income over the periods required to attribute these grants to the costs which they are intended to compensate. When the grant is related to an asset, it is presented in the statement of financial position as a deduction from the related asset. Grants are recognised in income net of the depreciation of the related asset. 1.10 Impairment of non-financial assets For the Group\u2019s non-financial assets, other than deferred tax assets, the Group assesses at each reporting date, whether there is an indication that an asset may be impaired. If any indication exists, or when annual impairment testing for an asset is required, the Group estimates the asset\u2019s recoverable amount. The recoverable amount is determined for an individual asset, unless the asset does not generate cash inflows that are largely independent of those from other assets or groups of assets. An asset\u2019s recoverable amount is the higher of an asset\u2019s or cash generating unit\u2019s fair value less costs of disposal and the value in use. In assessing value in use, the estimated future cash flows are discounted using a pre-tax discount rate that reflects current market assessment of the time value of money and the risks specific to the asset or cash generating unit. When the carrying amount exceeds the recoverable amount, an impairment loss is recognised as an operating expense in the income statement.A previously recognised impairment loss is reversed where there has been a change in the assumptions used to determine the recoverable amount. Thus, the impairment loss no longer exists or has been reduced. An increase in the carrying amount of an asset resulting from the reversal of an impairment cannot be higher than the carrying amount (after depreciation) that would have been determined had no impairment loss been recognised in prior years.An impairment loss recognised on goodwill is never reversed in a subsequent period.1.11 Financial assets The Group classifies its financial assets in the following categories: financial assets at fair value and financial assets at amortised cost. The classification depends on the entity\u2019s business model for managing the financial assets and the contractual terms of the cash flows. Management determines the classification of its financial assets at initial recognition. Regular purchases and sales of financial assets are recognised on the trade date \u2013 the date on which the Group commits to purchase or sell an asset.At initial recognition, the Group measures a financial asset at its fair value plus, in the case of a financial asset not at fair value through profit or loss, transaction costs that are directly attributable to the acquisition of the financial asset. Transaction costs of financial assets carried at fair value through profit or loss are expensed in profit or loss.Financial assets at amortised costFinancial assets (such as loans, trade receivables, cash and cash equivalents) are subsequently measured at amortised cost using the effective interest method, less any impairment if they are held for collection of contractual cash flows where those cash flows represent solely payments of principal and interest.The effective interest method is a method of calculating the amortised cost of a debt instrument and of allocating interest income over the relevant period. The effective interest rate is the rate that exactly discounts estimated future cash receipts (including all fees and points paid or received that form an integral part of the effective interest rate, transaction costs and other premiums or discounts) through the expected life of the debt instrument, or, where appropriate, a shorter period, to the net carrying amount on initial recognition.Trade and other receivables after and within one year are recognised initially at fair value and subsequently measured at amortised cost, i.e. at the net present value of the receivable amount, using the effective interest rate method, less allowances for impairment.The Group assesses on a forward-looking basis the expected credit losses associated with its financial assets carried at amortised cost. For trade receivables, the Group applies the simplified approach permitted by IFRS 9 \u2013 Financial Instruments, which requires expected lifetime losses to be recognised from initial recognition of the receivables.The amount of the allowance is deducted from the carrying amount of the asset and is recognised in the income statement under \u2018Impairment on inventories andtrade receivables\u2019. Financial assets at fair valueFinancial assets at fair value consist of equity instruments held in companies in which the Group does not exercise control nor significant influence. An irrevocable election can be made at initial recognition to measure the investment subsequently at fair value through other comprehensive income (FVTOCI), with dividend income recognised in the income statement. This classification is determined on an instrument-by-instrument basis. As such, changes in fair value are directly recognised in a separate component of other comprehensive income. For listed companies, the share price is the best estimate of the fair value. Investments for which no fair value can be determined, are recognised at historical cost.The Group assesses at each reporting date whether there is objective evidence that the asset is impaired. Objective evidence would include a significant or prolonged decline in the fair value of the investment below its cost. If the financial asset is sold or an impairment loss is recognised, the accumulated gains or losses recognised in equity are transferred to the income statement.Derecognition of financial assetsTrade receivables are no longer recognised when (1) the rights to receive cash flows from the trade receivables have expired, (2) the Group has transferred substantially all risks and rewards related to the receivables.The Group derecognises a financial asset only when the contractual rights to the cash flows from the asset expire, or when it transfers the financial asset and substantially all the risks and rewards of ownership of the asset to another entity. On derecognition of a financial asset, the difference between the asset\u2019s carrying amount and the sum of the consideration received and receivable is recognised in profit or loss.1.12 Inventories Inventories are measured at the lower of cost and net realisable value.For raw materials, consumables and goods for resale, cost is measured at the purchase price on a FIFO basis. The cost of finished products is the standard manufacturing cost price. This includes, in addition to direct production and material costs, a proportional part of the fixed and variable overhead costs based on the normal production capacity. The net realisable value is defined as the estimated selling price in the ordinary course of business, less the estimated cost of completion and the estimated costs necessary to make the sale.1.13 Cash and cash equivalents Cash and cash equivalents include cash in hand, bank balances (current and deposit accounts) and other short-term highly liquid investments with original maturities of three months or less.For the cash flow statement, cash and cash equivalents include cash and bank balances. Any negative cash is included under non-current interest-bearing liabilities in the statement of financial position.1.14 Non-current assets (or disposal groups) held for sale and discontinued operations A non-current asset (or a disposal group) is classified as held for sale if the carrying amount will be recovered principally through a sale transaction rather than through continuing use. A non-current asset (or a disposal group) classified as held for sale is recognised at the lower of the carrying amount and the fair value less costs to sell. An impairment test is performed on these assets at each reporting date.A disposal group qualifies as discontinued operation if it is a component of an entity that either has been disposed of, or is classified as held for sale, and:\u2022 Represents a major line of business or geographical area of operations;\u2022 Is part of a single coordinated plan to dispose of a separate major line of business or geographical area of operations or;\u2022 Is a subsidiary acquired exclusively with a view to resale.1.15 Share capital and treasury shares Ordinary shares are classified as equity. Where any Group company purchases the Company\u2019s equity share capital (treasury shares), the consideration paid is deducted from equity attributable to owners of the Company until the shares are cancelled or reissued. Incremental costs directly attributable to the issue of new shares are shown in equity as a deduction, net of tax, from the proceeds. Dividends payable to shareholders of the Company are recognised as a liability in the statement of financial position in the period in which the dividends are approved by the shareholders of the Company. 1.16 Financial liabilities Financial liabilities (including interest-bearing financial liabilities, trade payables and other financial liabilities) are classified at amortised cost, except for derivative instruments (see 1.17 further on). Interest-bearing financial liabilities are initially recognised at fair value less direct attributable transaction costs. After initial recognition, the interest-bearing financial liabilities will be recognised at the amortised cost price based on the effective interest rate method. The effective interest method is a method of calculating the amortised cost of a financial liability and of allocating interest expense over the relevant period. The effective interest rate is the rate that exactly discounts estimated future cash payments (including all fees and points paid or received that form an integral part of the effective interest rate, transaction costs and other premiums or discounts) through the expected life of the financial liability, or, where appropriate, a shorter period, to the net carrying amount on initial recognition.Trade payables and other debts are recognised at their nominal value.A financial obligation is derecognised once the obligation is fulfilled, settled or lapsed. Financial assets and liabilities are offset and the net amount is reported in the balance sheet when there is a legally enforceable right to offset the recognised amounts and there is an intention to settle on a net basis or realise the asset and settle the liability simultaneously.1.17 Derivative financial instruments The Group uses derivative financial instruments to limit risks from adverse exchange rate and interest rate fluctuations, including foreign exchange forward contracts and interest rate swaps. No derivatives are used for trading purposes. All regular purchases and sales of financial assets are recognised on transaction date.Financial derivatives are initially recognised at cost. After initial recognition, these instruments are recognised at their fair value. Changes in fair value of the Group\u2019s derivatives that do not meet the criteria of IFRS 9 for hedge accounting, are recognised immediately in the income statement. Hedge accountingThe Group designates certain hedging instruments, which include derivatives in respect of foreign currency risk and interest rate risk, as cash flow hedges.The effective portion of the change in fair value of derivative financial instruments that are designated as cash flow hedges is recognised in other comprehensive income and accumulated in a separate equity reserve. The gain or loss on the ineffective portion is immediately recognised in the income statement. Amounts accumulated in equity are reclassified to the income statement in the periods in which the hedged position impacts the income statement. 1.18 Provisions Provisions are recognised in the statement of financial position if the Group has a present obligation (legal or constructive) resulting from a past event and if it is probable that fulfilment of these commitments will incur expenses that can be estimated reliably on reporting date. No provisions are recognised for future operating costs. Provisions are measured at the present value of the expenditures expected to be required to settle the obligation using a pre-tax rate that reflects current market assessments of the time value of money and the risks specific to the obligation. The increase in the provision due to passage of time is recognised as finance cost. RestructuringA provision for restructuring is recognised when a formal, detailed restructuring plan is approved by the Group and if this restructuring has either begun or been announced to the persons concerned.1.19 Employee benefits Short-term employee benefitsBonuses for employees and management are calculated based on key financial objectives and individual objectives. The estimated amount of the bonuses is recognised as an expense in the period in which the related services have been rendered, based on an estimate on the reporting date.Post-employment benefits (pension plans)Group companies operate various pension schemes. The Group has both defined benefit and defined contribution plans.A defined contribution plan is a pension plan under which the Group pays fixed contributions into a separate entity. The Group has no legal or constructive obligations to pay further contributions if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods. The contributions are recognised as employee benefit expense when they are due.In addition, there are also defined benefit pension plans in certain subsidiaries of the Group (mainly Germany, the Netherlands and France). Typically, defined benefit plans define an amount of pension benefit that an employee will receive on retirement, usually dependent on one or more factors such as age, years of service and compensation.For the defined benefit pension plans, the liability is measured at the present value of the defined benefit obligation at the end of the reporting period less the fair value of plan assets. The defined benefit obligation is calculated annually by independent actuaries using the projected unit credit method.Defined benefit costs are divided into 2 categories: \u2022 Current service cost, past service cost, gains and losses on curtailments and settlements;\u2022 Net interest expense or income. The current and past service cost, the net interest expense, the remeasurement of other long-term personnel expenses, administrative expenses and taxes for the reporting period are included in the personnel expenses in the income statement. The remeasurement on the net defined benefit liability as a consequence of actuarial gains or losses is included in other comprehensive income. Share-based payments The stock option plan allows employees to acquire shares in the Company at relatively advantageous conditions. The exercise price of the option is equal to the average stock market closing price of the Lotus Bakeries share during the thirty calendar days preceding the date of offering. A personnel cost is recognised for options granted to employees as part of the stock option plan. The cost is determined based on the fair value of the stock options on the grant date and, together with an equal increase in equity, is recognised over the vesting period, ending on the date when the employees receive full right to the options. When the options are exercised, the proceeds received net of any directly attributable transaction costs are credited to share capital (nominal value) and share premium.1.20 Revenue recognition Revenue is included in the income statement when it is probable that the Group will receive economic benefits from the transaction and the revenue can be measured reliably. Revenue of the Group is generated principally through the sale of goods with as only performance obligation the delivery of goods. Revenue recognition occurs at a point in time, when control of the asset is transferred to the customer, generally on delivery of the goods.Customer contracts include trade discounts or volume rebates, which are granted to the customer if the delivered quantities exceed a certain threshold. In these cases, the transaction price includes a variable consideration. The effect of the variable consideration on the transaction price is taken into account in revenue recognition by estimating the probability of the realisation of the discount or rebate for each contract. Furthermore, the Group considers all payments made to customers and whether these are related to the revenue generated from the customer.1.21 Income taxes Income taxes include current and deferred taxes. Both taxes are recognised in the income statement except if the underlying transaction has been recognised directly in other comprehensive income. If so, the related income taxes are also directly recognised in other comprehensive income.Current taxes include the amount of tax payable on the taxable earnings for the period calculated at the tax rate applicable on the reporting date. They also include adjustments to income tax liabilities for previous years. In line with IAS 12 \u2013 Income Taxes, management assesses on a periodic basis the positions taken in tax declarations in respect of items subject to interpretation in the tax legislation, and records, if necessary, additional income tax liabilities based on the expected amounts payable to the tax authorities. The assessment is made for all fiscal periods still subject to controls by the authorities. Deferred taxes are calculated using the balance sheet method and result mainly from temporary differences between the carrying amount of both assets and liabilities in the statement of financial position and their respective tax base. Deferred taxes are measured at the tax rates that are expected to apply in the year when the asset is realised or the liability is settled, based on tax rates (and tax laws) that have been enacted or substantively enacted at reporting date. Deferred taxes are recognised at their nominal value and are not discounted.Deferred tax assets from deductible temporary differences and unused tax losses carry forwards are recognised to the extent that it is probable that taxable profits will be available against which the deductible temporary differences, and the carry forward of unused tax credits and unused tax losses can be offset. The carrying amount of deferred tax assets is reassessed at each reporting date and reduced when it is no longer probable that the related tax savings can be generated. Unrecognised deferred tax assets are reassessed at each reporting date and are recognised to the extent that it is probable that future taxable profits allow the deferred tax asset to be recovered. Deferred tax assets and liabilities are offset when there is a legally enforceable right to set off current tax assets against current tax liabilities and the deferred taxes relate to the same taxable entity and the same taxation authority.1.22 Segment reporting Group revenue is centralised around a number of products that are all included in the traditional and natural snack segment. For these products, the Group is organised according to geographical regions for sales, production and internal reporting. The result of a segment includes the income and expenses directly generated by a segment. To this is added the portion of the income and expenses that can be reasonably attributed to the segment. Intersegment price-fixing is defined based on the \u2018at arm\u2019s length\u2019 principle. Considering that the chief operating decision maker does not review on a regular basis items of the statement of financial position per segment, segment assets and liabilities are not disclosed.Non-recurring income and expensesNon-recurring income and expenses are those items that are considered by management not to relate to transactions, projects and adjustments to the value of assets and liabilities taking place in the ordinary course of activities of the Company. Non-recurring income and expenses are presented separately, due to their size or nature, so as to allow users of the consolidated financial statements of the Company to get a better understanding of the normalised performance of the Company. Non-recurring income and expenses relate to:\u2022 Expenses relating to business combinations and other acquisitions ofinvestments;\u2022 Changes to the Group structure, including costs related to the liquidation ofsubsidiaries and the closure, opening or relocations of activities;\u2022 Impairment of assets and major litigations.", "dimensions": { "concept": "ifrs-full:DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory", "language": "en", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "pp-value-19-3": { "value": "Subsidiaries Subsidiaries are entities controlled by the Group. The Group has control over an investee when it is exposed to, or has the right to, variable returns arising from its involvement with the investee and has the ability to affect those returns through its power over the investee. The financial statements of the subsidiaries are included in the consolidation scope as from the date that the Group obtains control until the date such control ceases.Acquisition of subsidiaries is accounted for according to the acquisition method. The cost of the acquisition of a subsidiary is the fair value of the assets transferred, the liabilities incurred and the equity interests issued by the Group. The cost includes the fair value of any asset or liability resulting from a contingent consideration agreement. Acquisition-related costs are expensed as incurred. Identifiable assets acquired, liabilities assumed and contingent liabilities assumed in a business combination are measured initially at their fair value at acquisition date. On an acquisition-by-acquisition basis, the Group recognises any non-controlling interest in the acquiree at fair value or at the non-controlling interest\u2019s proportionate share of the acquiree\u2019s net assets. The excess of the cost of the acquisition over the fair value of the Group\u2019s share of the identifiable net assets acquired is recorded as goodwill. If this is less than the fair value of the net assets of the subsidiary in the case of a bargain purchase, the difference is recognised directly in the income statement.The financial statements of the subsidiaries have the same financial year as the Company and are prepared in accordance with the accounting principles of the Group.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForSubsidiariesExplanatory", "language": "en", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "pp-value-20-4": { "value": "Acquisition of subsidiaries is accounted for according to the acquisition method. The cost of the acquisition of a subsidiary is the fair value of the assets transferred, the liabilities incurred and the equity interests issued by the Group. The cost includes the fair value of any asset or liability resulting from a contingent consideration agreement. Acquisition-related costs are expensed as incurred. Identifiable assets acquired, liabilities assumed and contingent liabilities assumed in a business combination are measured initially at their fair value at acquisition date. On an acquisition-by-acquisition basis, the Group recognises any non-controlling interest in the acquiree at fair value or at the non-controlling interest\u2019s proportionate share of the acquiree\u2019s net assets. The excess of the cost of the acquisition over the fair value of the Group\u2019s share of the identifiable net assets acquired is recorded as goodwill. If this is less than the fair value of the net assets of the subsidiary in the case of a bargain purchase, the difference is recognised directly in the income statement.1.5 GoodwillGoodwill arising from a business combination is initially measured at cost (i.e., the excess between the cost of the business combination and the Group\u2019s interest in the fair value of the identifiable assets acquired, liabilities assumed and contingent liabilities assumed). After initial recognition, goodwill is measured at cost less accumulated impairment losses, if any.Goodwill is tested for impairment annually or more often if events or changes in circumstances indicate that the carrying amount may have been impaired. For the purpose of impairment testing, goodwill acquired in a business combination is, from acquisition date onwards, allocated to each of the Group\u2019s cash generating units that are expected to benefit from the combination, irrespective of whether other assets or liabilities of the acquiree are assigned to those units. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForBusinessCombinationsAndGoodwillExplanatory", "language": "en", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "pp-value-20-5": { "value": "Acquisition of subsidiaries is accounted for according to the acquisition method. The cost of the acquisition of a subsidiary is the fair value of the assets transferred, the liabilities incurred and the equity interests issued by the Group. The cost includes the fair value of any asset or liability resulting from a contingent consideration agreement. Acquisition-related costs are expensed as incurred. Identifiable assets acquired, liabilities assumed and contingent liabilities assumed in a business combination are measured initially at their fair value at acquisition date. On an acquisition-by-acquisition basis, the Group recognises any non-controlling interest in the acquiree at fair value or at the non-controlling interest\u2019s proportionate share of the acquiree\u2019s net assets. The excess of the cost of the acquisition over the fair value of the Group\u2019s share of the identifiable net assets acquired is recorded as goodwill. If this is less than the fair value of the net assets of the subsidiary in the case of a bargain purchase, the difference is recognised directly in the income statement.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForBusinessCombinationsExplanatory", "language": "en", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "pp-value-20-6": { "value": "Acquisition of subsidiaries is accounted for according to the acquisition method. The cost of the acquisition of a subsidiary is the fair value of the assets transferred, the liabilities incurred and the equity interests issued by the Group. The cost includes the fair value of any asset or liability resulting from a contingent consideration agreement. Acquisition-related costs are expensed as incurred. Identifiable assets acquired, liabilities assumed and contingent liabilities assumed in a business combination are measured initially at their fair value at acquisition date. On an acquisition-by-acquisition basis, the Group recognises any non-controlling interest in the acquiree at fair value or at the non-controlling interest\u2019s proportionate share of the acquiree\u2019s net assets. The excess of the cost of the acquisition over the fair value of the Group\u2019s share of the identifiable net assets acquired is recorded as goodwill. If this is less than the fair value of the net assets of the subsidiary in the case of a bargain purchase, the difference is recognised directly in the income statement.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForRecognisingDifferenceBetweenFairValueAtInitialRecognitionAndAmountDeterminedUsingValuationTechniqueExplanatory", "language": "en", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "pp-value-20-7": { "value": "Acquisition of subsidiaries is accounted for according to the acquisition method. The cost of the acquisition of a subsidiary is the fair value of the assets transferred, the liabilities incurred and the equity interests issued by the Group. The cost includes the fair value of any asset or liability resulting from a contingent consideration agreement. Acquisition-related costs are expensed as incurred. Identifiable assets acquired, liabilities assumed and contingent liabilities assumed in a business combination are measured initially at their fair value at acquisition date. On an acquisition-by-acquisition basis, the Group recognises any non-controlling interest in the acquiree at fair value or at the non-controlling interest\u2019s proportionate share of the acquiree\u2019s net assets. The excess of the cost of the acquisition over the fair value of the Group\u2019s share of the identifiable net assets acquired is recorded as goodwill. If this is less than the fair value of the net assets of the subsidiary in the case of a bargain purchase, the difference is recognised directly in the income statement.An investment in an associate is accounted for using the equity method from the date on which the investee becomes an associate. On acquisition of the investment, any excess of the cost of the investment over the Group\u2019s share of the net fair value of the identifiable assets and liabilities of the investee is recognised as goodwill, which is included in the carrying amount of the investment. Any excess of the Group\u2019s share of the net fair value of the identifiable assets and liabilities over the cost of the investment, after reassessment, is recognised immediately in profit or loss in the period in which the investment is acquired. Liabilities related to put options granted to non-controlling interests The Group granted put options to non-controlling interests in a subsidiary, giving the holders the right to sell part or all of their investment in the subsidiary to the Company. This put option on non-controlling interests (own equity instrument) gives rise to a gross liability that is initially recognised against equity and measured at the present value of the redemption amount (exercise price) in accordance with IAS 32 \u2013 Financial Instruments: presentation. This financial liability is included in the other non-current liabilities. This gross liability is subsequently measured at fair value. The difference between the value of the non-controlling interest and the fair value of the liability is allocated to the retained earnings (Group share), which are included in shareholders\u2019 equity.This liability is adjusted at the end of each reporting period to reflect changes in the estimated exercise price of the option and the carrying amount of non-controlling interests. If the option comes to maturity without exercising, the liability is derecognised against non-controlling interests and retained earnings (Group share).Intangible assets acquired upon acquisition of a subsidiary or as a result of the acquisition of a customer portfolio, are recognised separately in the statement of financial position at their estimated fair value at acquisition date. Costs for internally generated intangible assets are recognised in the income statement as incurred, unless they meet the criteria to be considered as development costs. 1.9 Government grants Government grants are recognised at fair value when it is probable that they will be received and that the Group will comply with the conditions attached to the grant. If the grant is related to a cost item, the grant is systematically recognised as income over the periods required to attribute these grants to the costs which they are intended to compensate. When the grant is related to an asset, it is presented in the statement of financial position as a deduction from the related asset. Grants are recognised in income net of the depreciation of the related asset. An irrevocable election can be made at initial recognition to measure the investment subsequently at fair value through other comprehensive income (FVTOCI), with dividend income recognised in the income statement. This classification is determined on an instrument-by-instrument basis. As such, changes in fair value are directly recognised in a separate component of other comprehensive income. For listed companies, the share price is the best estimate of the fair value. Investments for which no fair value can be determined, are recognised at historical cost.The Group assesses at each reporting date whether there is objective evidence that the asset is impaired. Objective evidence would include a significant or prolonged decline in the fair value of the investment below its cost. If the financial asset is sold or an impairment loss is recognised, the accumulated gains or losses recognised in equity are transferred to the income statement.Interest-bearing financial liabilities are initially recognised at fair value less direct attributable transaction costs. After initial recognition, the interest-bearing financial liabilities will be recognised at the amortised cost price based on the effective interest rate method. The effective interest method is a method of calculating the amortised cost of a financial liability and of allocating interest expense over the relevant period. The effective interest rate is the rate that exactly discounts estimated future cash payments (including all fees and points paid or received that form an integral part of the effective interest rate, transaction costs and other premiums or discounts) through the expected life of the financial liability, or, where appropriate, a shorter period, to the net carrying amount on initial recognition.1.17 Derivative financial instruments The Group uses derivative financial instruments to limit risks from adverse exchange rate and interest rate fluctuations, including foreign exchange forward contracts and interest rate swaps. No derivatives are used for trading purposes. All regular purchases and sales of financial assets are recognised on transaction date.Financial derivatives are initially recognised at cost. After initial recognition, these instruments are recognised at their fair value. Changes in fair value of the Group\u2019s derivatives that do not meet the criteria of IFRS 9 for hedge accounting, are recognised immediately in the income statement. Hedge accountingThe Group designates certain hedging instruments, which include derivatives in respect of foreign currency risk and interest rate risk, as cash flow hedges.The effective portion of the change in fair value of derivative financial instruments that are designated as cash flow hedges is recognised in other comprehensive income and accumulated in a separate equity reserve. The gain or loss on the ineffective portion is immediately recognised in the income statement. Amounts accumulated in equity are reclassified to the income statement in the periods in which the hedged position impacts the income statement. Share-based payments The stock option plan allows employees to acquire shares in the Company at relatively advantageous conditions. The exercise price of the option is equal to the average stock market closing price of the Lotus Bakeries share during the thirty calendar days preceding the date of offering. A personnel cost is recognised for options granted to employees as part of the stock option plan. The cost is determined based on the fair value of the stock options on the grant date and, together with an equal increase in equity, is recognised over the vesting period, ending on the date when the employees receive full right to the options. When the options are exercised, the proceeds received net of any directly attributable transaction costs are credited to share capital (nominal value) and share premium.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFairValueMeasurementExplanatory", "language": "en", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "pp-value-23-3": { "value": "Investment in associatesAn associate is an entity over which the Group has significant influence and that is neither a subsidiary nor an interest in a joint arrangement. Significant influence is the power to participate in the financial and operating policy decisions of the investee but is not control or joint control over those policies.In its consolidated financial statements, the Group uses the equity method of accounting for investments in associates. Under the equity method, the investment is initially recognised at cost in the consolidated statement of financial position and adjusted thereafter to recognise the Group\u2019s share of the profit or loss and other comprehensive income of the associate.An investment in an associate is accounted for using the equity method from the date on which the investee becomes an associate. On acquisition of the investment, any excess of the cost of the investment over the Group\u2019s share of the net fair value of the identifiable assets and liabilities of the investee is recognised as goodwill, which is included in the carrying amount of the investment. Any excess of the Group\u2019s share of the net fair value of the identifiable assets and liabilities over the cost of the investment, after reassessment, is recognised immediately in profit or loss in the period in which the investment is acquired. The Group discontinues the use of the equity method from the date when the investment ceases to be an associate or when the investment is classified as held for sale.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForInvestmentInAssociatesAndJointVenturesExplanatory", "language": "en", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "pp-value-23-4": { "value": "Investment in associatesAn associate is an entity over which the Group has significant influence and that is neither a subsidiary nor an interest in a joint arrangement. Significant influence is the power to participate in the financial and operating policy decisions of the investee but is not control or joint control over those policies.In its consolidated financial statements, the Group uses the equity method of accounting for investments in associates. Under the equity method, the investment is initially recognised at cost in the consolidated statement of financial position and adjusted thereafter to recognise the Group\u2019s share of the profit or loss and other comprehensive income of the associate.An investment in an associate is accounted for using the equity method from the date on which the investee becomes an associate. On acquisition of the investment, any excess of the cost of the investment over the Group\u2019s share of the net fair value of the identifiable assets and liabilities of the investee is recognised as goodwill, which is included in the carrying amount of the investment. Any excess of the Group\u2019s share of the net fair value of the identifiable assets and liabilities over the cost of the investment, after reassessment, is recognised immediately in profit or loss in the period in which the investment is acquired. The Group discontinues the use of the equity method from the date when the investment ceases to be an associate or when the investment is classified as held for sale.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForInvestmentInAssociates", "language": "en", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "pp-value-26-4": { "value": "Liabilities related to put options granted to non-controlling interests The Group granted put options to non-controlling interests in a subsidiary, giving the holders the right to sell part or all of their investment in the subsidiary to the Company. This put option on non-controlling interests (own equity instrument) gives rise to a gross liability that is initially recognised against equity and measured at the present value of the redemption amount (exercise price) in accordance with IAS 32 \u2013 Financial Instruments: presentation. This financial liability is included in the other non-current liabilities. This gross liability is subsequently measured at fair value. The difference between the value of the non-controlling interest and the fair value of the liability is allocated to the retained earnings (Group share), which are included in shareholders\u2019 equity.This liability is adjusted at the end of each reporting period to reflect changes in the estimated exercise price of the option and the carrying amount of non-controlling interests. If the option comes to maturity without exercising, the liability is derecognised against non-controlling interests and retained earnings (Group share).", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForTransactionsWithNoncontrollingInterestsExplanatory", "language": "en", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "pp-value-26-5": { "value": "Liabilities related to put options granted to non-controlling interests The Group granted put options to non-controlling interests in a subsidiary, giving the holders the right to sell part or all of their investment in the subsidiary to the Company. This put option on non-controlling interests (own equity instrument) gives rise to a gross liability that is initially recognised against equity and measured at the present value of the redemption amount (exercise price) in accordance with IAS 32 \u2013 Financial Instruments: presentation. This financial liability is included in the other non-current liabilities. This gross liability is subsequently measured at fair value. The difference between the value of the non-controlling interest and the fair value of the liability is allocated to the retained earnings (Group share), which are included in shareholders\u2019 equity.This liability is adjusted at the end of each reporting period to reflect changes in the estimated exercise price of the option and the carrying amount of non-controlling interests. If the option comes to maturity without exercising, the liability is derecognised against non-controlling interests and retained earnings (Group share).Lease liabilities are measured at the present value of following future lease payments over the lease term:\u2022 Fixed payments (less any lease incentives);\u2022 Variable lease payments that are based on an index or rate;\u2022 The exercise price of a purchase option if the Group is reasonably certain to exercise that option;\u2022 Payments of penalties for terminating the lease, if the lease term reflects the Group exercising that option.The above lease payments are discounted using the interest rate implicit in the lease, if it can be determined, or the Group\u2019s incremental borrowing rate, i.e. the rate of interest that a lessee would have to pay to borrow over a similar term, and with a similar security, the funds necessary to obtain an asset of a similar value to the right-of-use asset in a similar economic environment.The Group is exposed to potential future increases in variable lease payments based on an index or rate, which are not included in the lease liability until they take effect. When adjustments to lease payments based on an index or rate take effect, the lease liability is reassessed and adjusted against the right-of-use asset.For leases with a term of 12 months or less (short-term leases) or leases of low-value items to which the Group applies the recognition exemptions available in IFRS 16, lease payments are recognised on a straight-line basis as an expense over the lease term. 1.11 Financial assets The Group classifies its financial assets in the following categories: financial assets at fair value and financial assets at amortised cost. The classification depends on the entity\u2019s business model for managing the financial assets and the contractual terms of the cash flows. Management determines the classification of its financial assets at initial recognition. Regular purchases and sales of financial assets are recognised on the trade date \u2013 the date on which the Group commits to purchase or sell an asset.At initial recognition, the Group measures a financial asset at its fair value plus, in the case of a financial asset not at fair value through profit or loss, transaction costs that are directly attributable to the acquisition of the financial asset. Transaction costs of financial assets carried at fair value through profit or loss are expensed in profit or loss.Financial assets at amortised costFinancial assets (such as loans, trade receivables, cash and cash equivalents) are subsequently measured at amortised cost using the effective interest method, less any impairment if they are held for collection of contractual cash flows where those cash flows represent solely payments of principal and interest.The effective interest method is a method of calculating the amortised cost of a debt instrument and of allocating interest income over the relevant period. The effective interest rate is the rate that exactly discounts estimated future cash receipts (including all fees and points paid or received that form an integral part of the effective interest rate, transaction costs and other premiums or discounts) through the expected life of the debt instrument, or, where appropriate, a shorter period, to the net carrying amount on initial recognition.Trade and other receivables after and within one year are recognised initially at fair value and subsequently measured at amortised cost, i.e. at the net present value of the receivable amount, using the effective interest rate method, less allowances for impairment.The Group assesses on a forward-looking basis the expected credit losses associated with its financial assets carried at amortised cost. For trade receivables, the Group applies the simplified approach permitted by IFRS 9 \u2013 Financial Instruments, which requires expected lifetime losses to be recognised from initial recognition of the receivables.The amount of the allowance is deducted from the carrying amount of the asset and is recognised in the income statement under \u2018Impairment on inventories andtrade receivables\u2019. Financial assets at fair valueFinancial assets at fair value consist of equity instruments held in companies in which the Group does not exercise control nor significant influence. An irrevocable election can be made at initial recognition to measure the investment subsequently at fair value through other comprehensive income (FVTOCI), with dividend income recognised in the income statement. This classification is determined on an instrument-by-instrument basis. As such, changes in fair value are directly recognised in a separate component of other comprehensive income. For listed companies, the share price is the best estimate of the fair value. Investments for which no fair value can be determined, are recognised at historical cost.The Group assesses at each reporting date whether there is objective evidence that the asset is impaired. Objective evidence would include a significant or prolonged decline in the fair value of the investment below its cost. If the financial asset is sold or an impairment loss is recognised, the accumulated gains or losses recognised in equity are transferred to the income statement.Derecognition of financial assetsTrade receivables are no longer recognised when (1) the rights to receive cash flows from the trade receivables have expired, (2) the Group has transferred substantially all risks and rewards related to the receivables.The Group derecognises a financial asset only when the contractual rights to the cash flows from the asset expire, or when it transfers the financial asset and substantially all the risks and rewards of ownership of the asset to another entity. On derecognition of a financial asset, the difference between the asset\u2019s carrying amount and the sum of the consideration received and receivable is recognised in profit or loss.1.13 Cash and cash equivalents Cash and cash equivalents include cash in hand, bank balances (current and deposit accounts) and other short-term highly liquid investments with original maturities of three months or less.For the cash flow statement, cash and cash equivalents include cash and bank balances. Any negative cash is included under non-current interest-bearing liabilities in the statement of financial position.1.16 Financial liabilities Financial liabilities (including interest-bearing financial liabilities, trade payables and other financial liabilities) are classified at amortised cost, except for derivative instruments (see 1.17 further on). Interest-bearing financial liabilities are initially recognised at fair value less direct attributable transaction costs. After initial recognition, the interest-bearing financial liabilities will be recognised at the amortised cost price based on the effective interest rate method. The effective interest method is a method of calculating the amortised cost of a financial liability and of allocating interest expense over the relevant period. The effective interest rate is the rate that exactly discounts estimated future cash payments (including all fees and points paid or received that form an integral part of the effective interest rate, transaction costs and other premiums or discounts) through the expected life of the financial liability, or, where appropriate, a shorter period, to the net carrying amount on initial recognition.Trade payables and other debts are recognised at their nominal value.A financial obligation is derecognised once the obligation is fulfilled, settled or lapsed. Financial assets and liabilities are offset and the net amount is reported in the balance sheet when there is a legally enforceable right to offset the recognised amounts and there is an intention to settle on a net basis or realise the asset and settle the liability simultaneously.1.17 Derivative financial instruments The Group uses derivative financial instruments to limit risks from adverse exchange rate and interest rate fluctuations, including foreign exchange forward contracts and interest rate swaps. No derivatives are used for trading purposes. All regular purchases and sales of financial assets are recognised on transaction date.Financial derivatives are initially recognised at cost. After initial recognition, these instruments are recognised at their fair value. Changes in fair value of the Group\u2019s derivatives that do not meet the criteria of IFRS 9 for hedge accounting, are recognised immediately in the income statement. Hedge accountingThe Group designates certain hedging instruments, which include derivatives in respect of foreign currency risk and interest rate risk, as cash flow hedges.The effective portion of the change in fair value of derivative financial instruments that are designated as cash flow hedges is recognised in other comprehensive income and accumulated in a separate equity reserve. The gain or loss on the ineffective portion is immediately recognised in the income statement. Amounts accumulated in equity are reclassified to the income statement in the periods in which the hedged position impacts the income statement. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory", "language": "en", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "pp-value-26-6": { "value": "Liabilities related to put options granted to non-controlling interests The Group granted put options to non-controlling interests in a subsidiary, giving the holders the right to sell part or all of their investment in the subsidiary to the Company. This put option on non-controlling interests (own equity instrument) gives rise to a gross liability that is initially recognised against equity and measured at the present value of the redemption amount (exercise price) in accordance with IAS 32 \u2013 Financial Instruments: presentation. This financial liability is included in the other non-current liabilities. This gross liability is subsequently measured at fair value. The difference between the value of the non-controlling interest and the fair value of the liability is allocated to the retained earnings (Group share), which are included in shareholders\u2019 equity.This liability is adjusted at the end of each reporting period to reflect changes in the estimated exercise price of the option and the carrying amount of non-controlling interests. If the option comes to maturity without exercising, the liability is derecognised against non-controlling interests and retained earnings (Group share).", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialInstrumentsAtFairValueThroughProfitOrLossExplanatory", "language": "en", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "pp-value-26-7": { "value": "Liabilities related to put options granted to non-controlling interests The Group granted put options to non-controlling interests in a subsidiary, giving the holders the right to sell part or all of their investment in the subsidiary to the Company. This put option on non-controlling interests (own equity instrument) gives rise to a gross liability that is initially recognised against equity and measured at the present value of the redemption amount (exercise price) in accordance with IAS 32 \u2013 Financial Instruments: presentation. This financial liability is included in the other non-current liabilities. This gross liability is subsequently measured at fair value. The difference between the value of the non-controlling interest and the fair value of the liability is allocated to the retained earnings (Group share), which are included in shareholders\u2019 equity.This liability is adjusted at the end of each reporting period to reflect changes in the estimated exercise price of the option and the carrying amount of non-controlling interests. If the option comes to maturity without exercising, the liability is derecognised against non-controlling interests and retained earnings (Group share).Lease liabilities are measured at the present value of following future lease payments over the lease term:\u2022 Fixed payments (less any lease incentives);\u2022 Variable lease payments that are based on an index or rate;\u2022 The exercise price of a purchase option if the Group is reasonably certain to exercise that option;\u2022 Payments of penalties for terminating the lease, if the lease term reflects the Group exercising that option.The above lease payments are discounted using the interest rate implicit in the lease, if it can be determined, or the Group\u2019s incremental borrowing rate, i.e. the rate of interest that a lessee would have to pay to borrow over a similar term, and with a similar security, the funds necessary to obtain an asset of a similar value to the right-of-use asset in a similar economic environment.The Group is exposed to potential future increases in variable lease payments based on an index or rate, which are not included in the lease liability until they take effect. When adjustments to lease payments based on an index or rate take effect, the lease liability is reassessed and adjusted against the right-of-use asset.For leases with a term of 12 months or less (short-term leases) or leases of low-value items to which the Group applies the recognition exemptions available in IFRS 16, lease payments are recognised on a straight-line basis as an expense over the lease term. 1.16 Financial liabilities Financial liabilities (including interest-bearing financial liabilities, trade payables and other financial liabilities) are classified at amortised cost, except for derivative instruments (see 1.17 further on). Interest-bearing financial liabilities are initially recognised at fair value less direct attributable transaction costs. After initial recognition, the interest-bearing financial liabilities will be recognised at the amortised cost price based on the effective interest rate method. The effective interest method is a method of calculating the amortised cost of a financial liability and of allocating interest expense over the relevant period. The effective interest rate is the rate that exactly discounts estimated future cash payments (including all fees and points paid or received that form an integral part of the effective interest rate, transaction costs and other premiums or discounts) through the expected life of the financial liability, or, where appropriate, a shorter period, to the net carrying amount on initial recognition.Trade payables and other debts are recognised at their nominal value.A financial obligation is derecognised once the obligation is fulfilled, settled or lapsed. Financial assets and liabilities are offset and the net amount is reported in the balance sheet when there is a legally enforceable right to offset the recognised amounts and there is an intention to settle on a net basis or realise the asset and settle the liability simultaneously.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialLiabilitiesExplanatory", "language": "en", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "pp-value-27-3": { "value": "1.4 Foreign currencies Items included in the financial statements of each of the Group\u2019s entities are measured using the currency of the primary economic environment in which the entity operates (\u2018the functional currency\u2019). The consolidated financial statements are presented in euro, the Group\u2019s reporting currency. Transactions in foreign currencies Transactions in foreign currencies are translated into the functional currency using the exchange rate applicable on the date of the transaction. Monetary assets and liabilities in foreign currencies are translated at the closing rate on the reporting date. Resulting foreign exchange gains and losses are recognised in the income statement.Foreign exchange gains and losses that relate to interest-bearing liabilities and cash and cash equivalents are presented in the income statement within financial result. All other foreign exchange gains and losses are presented in the income statement within operating result.Financial statements of foreign entities For foreign entities using a different functional currency than the euro:\u2022 Assets and liabilities are translated to the euro using the exchange rate on the reporting date;\u2022 Items of income and expenses are translated at average exchange rate and;\u2022 Equity items are translated at the historical exchange rate.The resulting translation differences are recognised in other comprehensive income and accumulated in a separate component of equity (translation differences). These translation differences remain in equity up to the disposal of the relevant entity. In case of disposal, the accumulated amount in equity is reclassified to the income statement as part of the result on disposal of the relevant foreign activity.Goodwill arising from the acquisition of a foreign entity and fair value adjustments to the carrying amount of the acquired assets and liabilities at the date of acquisition, are considered as assets and liabilities of the foreign activity and are translated at the exchange rate on the reporting date. The Group has no entities in hyperinflationary economies. Exchange rates The following exchange rates were used in preparing the financial statements:CLOSING RATE AVERAGE RATE2022 2021 2022 2021EUR/CHF 0.985 1.033 1.005 1.081 EUR/CNY 7.358 7.195 7.075 7.629 EUR/CZK 24.116 24.858 24.570 25.643 EUR/GBP 0.887 0.840 0.852 0.860 EUR/KRW 1,344.090 1,346.380 1,357.681 1,354.032 EUR/SEK 11.122 10.250 10.624 10.145 EUR/THB 36.835 37.653 36.800 37.891 EUR/USD 1.067 1.133 1.054 1.183 EUR/ZAR 18.099 18.063 17.210 17.472 ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory", "language": "en", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "pp-value-27-4": { "value": "1.4 Foreign currencies Items included in the financial statements of each of the Group\u2019s entities are measured using the currency of the primary economic environment in which the entity operates (\u2018the functional currency\u2019). The consolidated financial statements are presented in euro, the Group\u2019s reporting currency. Transactions in foreign currencies Transactions in foreign currencies are translated into the functional currency using the exchange rate applicable on the date of the transaction. Monetary assets and liabilities in foreign currencies are translated at the closing rate on the reporting date. Resulting foreign exchange gains and losses are recognised in the income statement.Foreign exchange gains and losses that relate to interest-bearing liabilities and cash and cash equivalents are presented in the income statement within financial result. All other foreign exchange gains and losses are presented in the income statement within operating result.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFunctionalCurrencyExplanatory", "language": "en", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "pp-value-30-4": { "value": "1.5 GoodwillGoodwill arising from a business combination is initially measured at cost (i.e., the excess between the cost of the business combination and the Group\u2019s interest in the fair value of the identifiable assets acquired, liabilities assumed and contingent liabilities assumed). After initial recognition, goodwill is measured at cost less accumulated impairment losses, if any.Goodwill is tested for impairment annually or more often if events or changes in circumstances indicate that the carrying amount may have been impaired. For the purpose of impairment testing, goodwill acquired in a business combination is, from acquisition date onwards, allocated to each of the Group\u2019s cash generating units that are expected to benefit from the combination, irrespective of whether other assets or liabilities of the acquiree are assigned to those units. 1.6 Intangible assets Intangible assets which are acquired separately are measured initially at cost. After initial recognition, intangible assets are measured at cost less accumulated amortisations and impairment losses. Intangible assets acquired upon acquisition of a subsidiary or as a result of the acquisition of a customer portfolio, are recognised separately in the statement of financial position at their estimated fair value at acquisition date. Costs for internally generated intangible assets are recognised in the income statement as incurred, unless they meet the criteria to be considered as development costs. Intangible assets with a finite useful life are amortised on a straight-line basis over the estimated useful life and reviewed for impairment whenever there is an indication that the intangible asset may be impaired. Amortisation begins when the intangible asset is available for its intended use.Intangible assets with indefinite useful lives are not amortised but tested for impairment annually or whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. The indefinite useful life is re-assessed annually to determine whether the indefinite life continues to be supportable. If not, the change in useful life from indefinite to finite is made prospectively. Investments in software and licences are amortised over a period of three to five years. The brands acquired in acquisitions, or the value of the customer portfolios obtained through acquisition are amortised on a straight-line basis over a maximum period of ten years, except when the brand has an indefinite useful life. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForIntangibleAssetsAndGoodwillExplanatory", "language": "en", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "pp-value-30-5": { "value": "1.5 GoodwillGoodwill arising from a business combination is initially measured at cost (i.e., the excess between the cost of the business combination and the Group\u2019s interest in the fair value of the identifiable assets acquired, liabilities assumed and contingent liabilities assumed). After initial recognition, goodwill is measured at cost less accumulated impairment losses, if any.Goodwill is tested for impairment annually or more often if events or changes in circumstances indicate that the carrying amount may have been impaired. For the purpose of impairment testing, goodwill acquired in a business combination is, from acquisition date onwards, allocated to each of the Group\u2019s cash generating units that are expected to benefit from the combination, irrespective of whether other assets or liabilities of the acquiree are assigned to those units. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForGoodwillExplanatory", "language": "en", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "pp-value-31-4": { "value": "1.6 Intangible assets Intangible assets which are acquired separately are measured initially at cost. After initial recognition, intangible assets are measured at cost less accumulated amortisations and impairment losses. Intangible assets acquired upon acquisition of a subsidiary or as a result of the acquisition of a customer portfolio, are recognised separately in the statement of financial position at their estimated fair value at acquisition date. Costs for internally generated intangible assets are recognised in the income statement as incurred, unless they meet the criteria to be considered as development costs. Intangible assets with a finite useful life are amortised on a straight-line basis over the estimated useful life and reviewed for impairment whenever there is an indication that the intangible asset may be impaired. Amortisation begins when the intangible asset is available for its intended use.Intangible assets with indefinite useful lives are not amortised but tested for impairment annually or whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. The indefinite useful life is re-assessed annually to determine whether the indefinite life continues to be supportable. If not, the change in useful life from indefinite to finite is made prospectively. Investments in software and licences are amortised over a period of three to five years. The brands acquired in acquisitions, or the value of the customer portfolios obtained through acquisition are amortised on a straight-line basis over a maximum period of ten years, except when the brand has an indefinite useful life. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForIntangibleAssetsOtherThanGoodwillExplanatory", "language": "en", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "pp-value-33-5": { "value": "Intangible assets with a finite useful life are amortised on a straight-line basis over the estimated useful life and reviewed for impairment whenever there is an indication that the intangible asset may be impaired. Amortisation begins when the intangible asset is available for its intended use.Intangible assets with indefinite useful lives are not amortised but tested for impairment annually or whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. The indefinite useful life is re-assessed annually to determine whether the indefinite life continues to be supportable. If not, the change in useful life from indefinite to finite is made prospectively. Investments in software and licences are amortised over a period of three to five years. The brands acquired in acquisitions, or the value of the customer portfolios obtained through acquisition are amortised on a straight-line basis over a maximum period of ten years, except when the brand has an indefinite useful life. If an item property, plant and equipment consists of different components and each component has different useful lives, the separate components are depreciated according to their respective useful lives. Depreciation is calculated on a straight-line basis over the estimated useful lives of the assets. Depreciation of an asset begins when the asset is available for its intended use. The estimated useful lives are as follows: Buildings, incl. warehouses 25-30 yearsPlant and machinery 15-25 yearsFurniture 15 yearsTrucks 10 yearsOffice equipment and motor vehicles 5 yearsComputer equipment 3-5 yearsLand is not depreciated considering that it has an indefinite useful life. The depreciation methods, residual values and the useful lives of the property,plant and equipment is reassessed and adjusted if appropriate, annually. These assets are generally depreciated on a straight-line basis over the lease term and are subject to impairment. If it is reasonably certain that the Group will exercise a purchase option, the asset shall be depreciated on a straight-line basis over its useful life. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForDepreciationExpenseExplanatory", "language": "en", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "pp-value-35-3": { "value": "1.7 Property, plant and equipment Property, plant and equipment is measured at cost less accumulated depreciation and impairment losses. Cost includes the purchase price and any costs directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. The cost of self-produced assets includes direct material costs, direct labour costs and a proportional part of the production overhead.Costs of maintenance and repair of property, plant and equipment are capitalised if the cost can be measured reliably and the expenditure will result in a future economic benefit. All other costs are recognised as operating expenses when incurred. If an item property, plant and equipment consists of different components and each component has different useful lives, the separate components are depreciated according to their respective useful lives. Depreciation is calculated on a straight-line basis over the estimated useful lives of the assets. Depreciation of an asset begins when the asset is available for its intended use. The estimated useful lives are as follows: Buildings, incl. warehouses 25-30 yearsPlant and machinery 15-25 yearsFurniture 15 yearsTrucks 10 yearsOffice equipment and motor vehicles 5 yearsComputer equipment 3-5 yearsLand is not depreciated considering that it has an indefinite useful life. The depreciation methods, residual values and the useful lives of the property,plant and equipment is reassessed and adjusted if appropriate, annually. 1.8 Leases A lease exists if the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration. Leases are recognised as a right-of-use asset and corresponding liability at the date the leased asset is available for use by the Group. The right-of-use assets are presented in the consolidated statement of financial position within the line item \u2018Property, plant and equipment\u2019.The Group recognises right-of-use assets at cost, which consists of the initial measurement of the corresponding lease liabilities and any initial direct costs less lease incentives received. These assets are generally depreciated on a straight-line basis over the lease term and are subject to impairment. If it is reasonably certain that the Group will exercise a purchase option, the asset shall be depreciated on a straight-line basis over its useful life. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory", "language": "en", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "pp-value-36-4": { "value": "Costs of maintenance and repair of property, plant and equipment are capitalised if the cost can be measured reliably and the expenditure will result in a future economic benefit. All other costs are recognised as operating expenses when incurred. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForRepairsAndMaintenanceExplanatory", "language": "en", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "pp-value-39-4": { "value": "1.8 Leases A lease exists if the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration. Leases are recognised as a right-of-use asset and corresponding liability at the date the leased asset is available for use by the Group. The right-of-use assets are presented in the consolidated statement of financial position within the line item \u2018Property, plant and equipment\u2019.The Group recognises right-of-use assets at cost, which consists of the initial measurement of the corresponding lease liabilities and any initial direct costs less lease incentives received. These assets are generally depreciated on a straight-line basis over the lease term and are subject to impairment. If it is reasonably certain that the Group will exercise a purchase option, the asset shall be depreciated on a straight-line basis over its useful life. Lease liabilities are measured at the present value of following future lease payments over the lease term:\u2022 Fixed payments (less any lease incentives);\u2022 Variable lease payments that are based on an index or rate;\u2022 The exercise price of a purchase option if the Group is reasonably certain to exercise that option;\u2022 Payments of penalties for terminating the lease, if the lease term reflects the Group exercising that option.The above lease payments are discounted using the interest rate implicit in the lease, if it can be determined, or the Group\u2019s incremental borrowing rate, i.e. the rate of interest that a lessee would have to pay to borrow over a similar term, and with a similar security, the funds necessary to obtain an asset of a similar value to the right-of-use asset in a similar economic environment.The Group is exposed to potential future increases in variable lease payments based on an index or rate, which are not included in the lease liability until they take effect. When adjustments to lease payments based on an index or rate take effect, the lease liability is reassessed and adjusted against the right-of-use asset.For leases with a term of 12 months or less (short-term leases) or leases of low-value items to which the Group applies the recognition exemptions available in IFRS 16, lease payments are recognised on a straight-line basis as an expense over the lease term. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForLeasesExplanatory", "language": "en", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "pp-value-42-4": { "value": "1.9 Government grants Government grants are recognised at fair value when it is probable that they will be received and that the Group will comply with the conditions attached to the grant. If the grant is related to a cost item, the grant is systematically recognised as income over the periods required to attribute these grants to the costs which they are intended to compensate. When the grant is related to an asset, it is presented in the statement of financial position as a deduction from the related asset. Grants are recognised in income net of the depreciation of the related asset. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForGovernmentGrants", "language": "en", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "pp-value-43-3": { "value": "1.10 Impairment of non-financial assets For the Group\u2019s non-financial assets, other than deferred tax assets, the Group assesses at each reporting date, whether there is an indication that an asset may be impaired. If any indication exists, or when annual impairment testing for an asset is required, the Group estimates the asset\u2019s recoverable amount. The recoverable amount is determined for an individual asset, unless the asset does not generate cash inflows that are largely independent of those from other assets or groups of assets. An asset\u2019s recoverable amount is the higher of an asset\u2019s or cash generating unit\u2019s fair value less costs of disposal and the value in use. In assessing value in use, the estimated future cash flows are discounted using a pre-tax discount rate that reflects current market assessment of the time value of money and the risks specific to the asset or cash generating unit. When the carrying amount exceeds the recoverable amount, an impairment loss is recognised as an operating expense in the income statement.A previously recognised impairment loss is reversed where there has been a change in the assumptions used to determine the recoverable amount. Thus, the impairment loss no longer exists or has been reduced. An increase in the carrying amount of an asset resulting from the reversal of an impairment cannot be higher than the carrying amount (after depreciation) that would have been determined had no impairment loss been recognised in prior years.An impairment loss recognised on goodwill is never reversed in a subsequent period.An irrevocable election can be made at initial recognition to measure the investment subsequently at fair value through other comprehensive income (FVTOCI), with dividend income recognised in the income statement. This classification is determined on an instrument-by-instrument basis. As such, changes in fair value are directly recognised in a separate component of other comprehensive income. For listed companies, the share price is the best estimate of the fair value. Investments for which no fair value can be determined, are recognised at historical cost.The Group assesses at each reporting date whether there is objective evidence that the asset is impaired. Objective evidence would include a significant or prolonged decline in the fair value of the investment below its cost. If the financial asset is sold or an impairment loss is recognised, the accumulated gains or losses recognised in equity are transferred to the income statement.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfAssetsExplanatory", "language": "en", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "pp-value-43-4": { "value": "1.10 Impairment of non-financial assets For the Group\u2019s non-financial assets, other than deferred tax assets, the Group assesses at each reporting date, whether there is an indication that an asset may be impaired. If any indication exists, or when annual impairment testing for an asset is required, the Group estimates the asset\u2019s recoverable amount. The recoverable amount is determined for an individual asset, unless the asset does not generate cash inflows that are largely independent of those from other assets or groups of assets. An asset\u2019s recoverable amount is the higher of an asset\u2019s or cash generating unit\u2019s fair value less costs of disposal and the value in use. In assessing value in use, the estimated future cash flows are discounted using a pre-tax discount rate that reflects current market assessment of the time value of money and the risks specific to the asset or cash generating unit. When the carrying amount exceeds the recoverable amount, an impairment loss is recognised as an operating expense in the income statement.A previously recognised impairment loss is reversed where there has been a change in the assumptions used to determine the recoverable amount. Thus, the impairment loss no longer exists or has been reduced. An increase in the carrying amount of an asset resulting from the reversal of an impairment cannot be higher than the carrying amount (after depreciation) that would have been determined had no impairment loss been recognised in prior years.An impairment loss recognised on goodwill is never reversed in a subsequent period.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfNonfinancialAssetsExplanatory", "language": "en", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "pp-value-44-4": { "value": "1.11 Financial assets The Group classifies its financial assets in the following categories: financial assets at fair value and financial assets at amortised cost. The classification depends on the entity\u2019s business model for managing the financial assets and the contractual terms of the cash flows. Management determines the classification of its financial assets at initial recognition. Regular purchases and sales of financial assets are recognised on the trade date \u2013 the date on which the Group commits to purchase or sell an asset.At initial recognition, the Group measures a financial asset at its fair value plus, in the case of a financial asset not at fair value through profit or loss, transaction costs that are directly attributable to the acquisition of the financial asset. Transaction costs of financial assets carried at fair value through profit or loss are expensed in profit or loss.Financial assets at amortised costFinancial assets (such as loans, trade receivables, cash and cash equivalents) are subsequently measured at amortised cost using the effective interest method, less any impairment if they are held for collection of contractual cash flows where those cash flows represent solely payments of principal and interest.The effective interest method is a method of calculating the amortised cost of a debt instrument and of allocating interest income over the relevant period. The effective interest rate is the rate that exactly discounts estimated future cash receipts (including all fees and points paid or received that form an integral part of the effective interest rate, transaction costs and other premiums or discounts) through the expected life of the debt instrument, or, where appropriate, a shorter period, to the net carrying amount on initial recognition.Trade and other receivables after and within one year are recognised initially at fair value and subsequently measured at amortised cost, i.e. at the net present value of the receivable amount, using the effective interest rate method, less allowances for impairment.The Group assesses on a forward-looking basis the expected credit losses associated with its financial assets carried at amortised cost. For trade receivables, the Group applies the simplified approach permitted by IFRS 9 \u2013 Financial Instruments, which requires expected lifetime losses to be recognised from initial recognition of the receivables.The amount of the allowance is deducted from the carrying amount of the asset and is recognised in the income statement under \u2018Impairment on inventories andtrade receivables\u2019. Financial assets at fair valueFinancial assets at fair value consist of equity instruments held in companies in which the Group does not exercise control nor significant influence. An irrevocable election can be made at initial recognition to measure the investment subsequently at fair value through other comprehensive income (FVTOCI), with dividend income recognised in the income statement. This classification is determined on an instrument-by-instrument basis. As such, changes in fair value are directly recognised in a separate component of other comprehensive income. For listed companies, the share price is the best estimate of the fair value. Investments for which no fair value can be determined, are recognised at historical cost.The Group assesses at each reporting date whether there is objective evidence that the asset is impaired. Objective evidence would include a significant or prolonged decline in the fair value of the investment below its cost. If the financial asset is sold or an impairment loss is recognised, the accumulated gains or losses recognised in equity are transferred to the income statement.Derecognition of financial assetsTrade receivables are no longer recognised when (1) the rights to receive cash flows from the trade receivables have expired, (2) the Group has transferred substantially all risks and rewards related to the receivables.The Group derecognises a financial asset only when the contractual rights to the cash flows from the asset expire, or when it transfers the financial asset and substantially all the risks and rewards of ownership of the asset to another entity. On derecognition of a financial asset, the difference between the asset\u2019s carrying amount and the sum of the consideration received and receivable is recognised in profit or loss.1.13 Cash and cash equivalents Cash and cash equivalents include cash in hand, bank balances (current and deposit accounts) and other short-term highly liquid investments with original maturities of three months or less.For the cash flow statement, cash and cash equivalents include cash and bank balances. Any negative cash is included under non-current interest-bearing liabilities in the statement of financial position.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialAssetsExplanatory", "language": "en", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "pp-value-45-5": { "value": "Trade and other receivables after and within one year are recognised initially at fair value and subsequently measured at amortised cost, i.e. at the net present value of the receivable amount, using the effective interest rate method, less allowances for impairment.The Group assesses on a forward-looking basis the expected credit losses associated with its financial assets carried at amortised cost. For trade receivables, the Group applies the simplified approach permitted by IFRS 9 \u2013 Financial Instruments, which requires expected lifetime losses to be recognised from initial recognition of the receivables.The amount of the allowance is deducted from the carrying amount of the asset and is recognised in the income statement under \u2018Impairment on inventories andtrade receivables\u2019. Derecognition of financial assetsTrade receivables are no longer recognised when (1) the rights to receive cash flows from the trade receivables have expired, (2) the Group has transferred substantially all risks and rewards related to the receivables.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForTradeAndOtherReceivablesExplanatory", "language": "en", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "pp-value-47-5": { "value": "Financial assets at fair valueFinancial assets at fair value consist of equity instruments held in companies in which the Group does not exercise control nor significant influence. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethodExplanatory", "language": "en", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "pp-value-48-7": { "value": "An irrevocable election can be made at initial recognition to measure the investment subsequently at fair value through other comprehensive income (FVTOCI), with dividend income recognised in the income statement. This classification is determined on an instrument-by-instrument basis. As such, changes in fair value are directly recognised in a separate component of other comprehensive income. For listed companies, the share price is the best estimate of the fair value. Investments for which no fair value can be determined, are recognised at historical cost.The Group assesses at each reporting date whether there is objective evidence that the asset is impaired. Objective evidence would include a significant or prolonged decline in the fair value of the investment below its cost. If the financial asset is sold or an impairment loss is recognised, the accumulated gains or losses recognised in equity are transferred to the income statement.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfFinancialAssetsExplanatory", "language": "en", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "pp-value-49-6": { "value": "Derecognition of financial assetsTrade receivables are no longer recognised when (1) the rights to receive cash flows from the trade receivables have expired, (2) the Group has transferred substantially all risks and rewards related to the receivables.The Group derecognises a financial asset only when the contractual rights to the cash flows from the asset expire, or when it transfers the financial asset and substantially all the risks and rewards of ownership of the asset to another entity. On derecognition of a financial asset, the difference between the asset\u2019s carrying amount and the sum of the consideration received and receivable is recognised in profit or loss.A financial obligation is derecognised once the obligation is fulfilled, settled or lapsed. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForDerecognitionOfFinancialInstrumentsExplanatory", "language": "en", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "pp-value-51-3": { "value": "1.12 Inventories Inventories are measured at the lower of cost and net realisable value.For raw materials, consumables and goods for resale, cost is measured at the purchase price on a FIFO basis. The cost of finished products is the standard manufacturing cost price. This includes, in addition to direct production and material costs, a proportional part of the fixed and variable overhead costs based on the normal production capacity. The net realisable value is defined as the estimated selling price in the ordinary course of business, less the estimated cost of completion and the estimated costs necessary to make the sale.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForMeasuringInventories", "language": "en", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "pp-value-52-5": { "value": "1.13 Cash and cash equivalents Cash and cash equivalents include cash in hand, bank balances (current and deposit accounts) and other short-term highly liquid investments with original maturities of three months or less.For the cash flow statement, cash and cash equivalents include cash and bank balances. Any negative cash is included under non-current interest-bearing liabilities in the statement of financial position.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyToDetermineComponentsOfCashAndCashEquivalents", "language": "en", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "pp-value-53-6": { "value": "For the cash flow statement, cash and cash equivalents include cash and bank balances. Any negative cash is included under non-current interest-bearing liabilities in the statement of financial position.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForCashFlowsExplanatory", "language": "en", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "pp-value-54-3": { "value": "1.14 Non-current assets (or disposal groups) held for sale and discontinued operations A non-current asset (or a disposal group) is classified as held for sale if the carrying amount will be recovered principally through a sale transaction rather than through continuing use. A non-current asset (or a disposal group) classified as held for sale is recognised at the lower of the carrying amount and the fair value less costs to sell. An impairment test is performed on these assets at each reporting date.A disposal group qualifies as discontinued operation if it is a component of an entity that either has been disposed of, or is classified as held for sale, and:\u2022 Represents a major line of business or geographical area of operations;\u2022 Is part of a single coordinated plan to dispose of a separate major line of business or geographical area of operations or;\u2022 Is a subsidiary acquired exclusively with a view to resale.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleAndDiscontinuedOperationsExplanatory", "language": "en", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "pp-value-54-4": { "value": "1.14 Non-current assets (or disposal groups) held for sale and discontinued operations A non-current asset (or a disposal group) is classified as held for sale if the carrying amount will be recovered principally through a sale transaction rather than through continuing use. A non-current asset (or a disposal group) classified as held for sale is recognised at the lower of the carrying amount and the fair value less costs to sell. An impairment test is performed on these assets at each reporting date.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleExplanatory", "language": "en", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "pp-value-55-4": { "value": "A disposal group qualifies as discontinued operation if it is a component of an entity that either has been disposed of, or is classified as held for sale, and:\u2022 Represents a major line of business or geographical area of operations;\u2022 Is part of a single coordinated plan to dispose of a separate major line of business or geographical area of operations or;\u2022 Is a subsidiary acquired exclusively with a view to resale.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForDiscontinuedOperationsExplanatory", "language": "en", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "pp-value-56-3": { "value": "1.15 Share capital and treasury shares Ordinary shares are classified as equity. Where any Group company purchases the Company\u2019s equity share capital (treasury shares), the consideration paid is deducted from equity attributable to owners of the Company until the shares are cancelled or reissued. Incremental costs directly attributable to the issue of new shares are shown in equity as a deduction, net of tax, from the proceeds. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForIssuedCapitalExplanatory", "language": "en", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "pp-value-56-4": { "value": "1.15 Share capital and treasury shares Ordinary shares are classified as equity. Where any Group company purchases the Company\u2019s equity share capital (treasury shares), the consideration paid is deducted from equity attributable to owners of the Company until the shares are cancelled or reissued. Incremental costs directly attributable to the issue of new shares are shown in equity as a deduction, net of tax, from the proceeds. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForTreasurySharesExplanatory", "language": "en", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "pp-value-57-3": { "value": "Dividends payable to shareholders of the Company are recognised as a liability in the statement of financial position in the period in which the dividends are approved by the shareholders of the Company. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForDividendsExplanatory", "language": "en", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "pp-value-59-6": { "value": "Interest-bearing financial liabilities are initially recognised at fair value less direct attributable transaction costs. After initial recognition, the interest-bearing financial liabilities will be recognised at the amortised cost price based on the effective interest rate method. The effective interest method is a method of calculating the amortised cost of a financial liability and of allocating interest expense over the relevant period. The effective interest rate is the rate that exactly discounts estimated future cash payments (including all fees and points paid or received that form an integral part of the effective interest rate, transaction costs and other premiums or discounts) through the expected life of the financial liability, or, where appropriate, a shorter period, to the net carrying amount on initial recognition.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForBorrowingsExplanatory", "language": "en", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "pp-value-60-5": { "value": "Trade payables and other debts are recognised at their nominal value.A financial obligation is derecognised once the obligation is fulfilled, settled or lapsed. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForTradeAndOtherPayablesExplanatory", "language": "en", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "pp-value-63-5": { "value": "Financial assets and liabilities are offset and the net amount is reported in the balance sheet when there is a legally enforceable right to offset the recognised amounts and there is an intention to settle on a net basis or realise the asset and settle the liability simultaneously.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForOffsettingOfFinancialInstrumentsExplanatory", "language": "en", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "pp-value-64-5": { "value": "1.17 Derivative financial instruments The Group uses derivative financial instruments to limit risks from adverse exchange rate and interest rate fluctuations, including foreign exchange forward contracts and interest rate swaps. No derivatives are used for trading purposes. All regular purchases and sales of financial assets are recognised on transaction date.Financial derivatives are initially recognised at cost. After initial recognition, these instruments are recognised at their fair value. Changes in fair value of the Group\u2019s derivatives that do not meet the criteria of IFRS 9 for hedge accounting, are recognised immediately in the income statement. Hedge accountingThe Group designates certain hedging instruments, which include derivatives in respect of foreign currency risk and interest rate risk, as cash flow hedges.The effective portion of the change in fair value of derivative financial instruments that are designated as cash flow hedges is recognised in other comprehensive income and accumulated in a separate equity reserve. The gain or loss on the ineffective portion is immediately recognised in the income statement. Amounts accumulated in equity are reclassified to the income statement in the periods in which the hedged position impacts the income statement. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForDerivativeFinancialInstrumentsAndHedgingExplanatory", "language": "en", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "pp-value-64-6": { "value": "1.17 Derivative financial instruments The Group uses derivative financial instruments to limit risks from adverse exchange rate and interest rate fluctuations, including foreign exchange forward contracts and interest rate swaps. No derivatives are used for trading purposes. All regular purchases and sales of financial assets are recognised on transaction date.Financial derivatives are initially recognised at cost. After initial recognition, these instruments are recognised at their fair value. Changes in fair value of the Group\u2019s derivatives that do not meet the criteria of IFRS 9 for hedge accounting, are recognised immediately in the income statement. Hedge accountingThe Group designates certain hedging instruments, which include derivatives in respect of foreign currency risk and interest rate risk, as cash flow hedges.The effective portion of the change in fair value of derivative financial instruments that are designated as cash flow hedges is recognised in other comprehensive income and accumulated in a separate equity reserve. The gain or loss on the ineffective portion is immediately recognised in the income statement. Amounts accumulated in equity are reclassified to the income statement in the periods in which the hedged position impacts the income statement. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForDerivativeFinancialInstrumentsExplanatory", "language": "en", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "pp-value-64-7": { "value": "1.17 Derivative financial instruments The Group uses derivative financial instruments to limit risks from adverse exchange rate and interest rate fluctuations, including foreign exchange forward contracts and interest rate swaps. No derivatives are used for trading purposes. All regular purchases and sales of financial assets are recognised on transaction date.Financial derivatives are initially recognised at cost. After initial recognition, these instruments are recognised at their fair value. Changes in fair value of the Group\u2019s derivatives that do not meet the criteria of IFRS 9 for hedge accounting, are recognised immediately in the income statement. Hedge accountingThe Group designates certain hedging instruments, which include derivatives in respect of foreign currency risk and interest rate risk, as cash flow hedges.The effective portion of the change in fair value of derivative financial instruments that are designated as cash flow hedges is recognised in other comprehensive income and accumulated in a separate equity reserve. The gain or loss on the ineffective portion is immediately recognised in the income statement. Amounts accumulated in equity are reclassified to the income statement in the periods in which the hedged position impacts the income statement. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForHedgingExplanatory", "language": "en", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "pp-value-65-3": { "value": "1.18 Provisions Provisions are recognised in the statement of financial position if the Group has a present obligation (legal or constructive) resulting from a past event and if it is probable that fulfilment of these commitments will incur expenses that can be estimated reliably on reporting date. No provisions are recognised for future operating costs. Provisions are measured at the present value of the expenditures expected to be required to settle the obligation using a pre-tax rate that reflects current market assessments of the time value of money and the risks specific to the obligation. The increase in the provision due to passage of time is recognised as finance cost. RestructuringA provision for restructuring is recognised when a formal, detailed restructuring plan is approved by the Group and if this restructuring has either begun or been announced to the persons concerned.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForProvisionsExplanatory", "language": "en", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "pp-value-67-3": { "value": "1.19 Employee benefits Short-term employee benefitsBonuses for employees and management are calculated based on key financial objectives and individual objectives. The estimated amount of the bonuses is recognised as an expense in the period in which the related services have been rendered, based on an estimate on the reporting date.Post-employment benefits (pension plans)Group companies operate various pension schemes. The Group has both defined benefit and defined contribution plans.A defined contribution plan is a pension plan under which the Group pays fixed contributions into a separate entity. The Group has no legal or constructive obligations to pay further contributions if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods. The contributions are recognised as employee benefit expense when they are due.In addition, there are also defined benefit pension plans in certain subsidiaries of the Group (mainly Germany, the Netherlands and France). Typically, defined benefit plans define an amount of pension benefit that an employee will receive on retirement, usually dependent on one or more factors such as age, years of service and compensation.For the defined benefit pension plans, the liability is measured at the present value of the defined benefit obligation at the end of the reporting period less the fair value of plan assets. The defined benefit obligation is calculated annually by independent actuaries using the projected unit credit method.Defined benefit costs are divided into 2 categories: \u2022 Current service cost, past service cost, gains and losses on curtailments and settlements;\u2022 Net interest expense or income. The current and past service cost, the net interest expense, the remeasurement of other long-term personnel expenses, administrative expenses and taxes for the reporting period are included in the personnel expenses in the income statement. The remeasurement on the net defined benefit liability as a consequence of actuarial gains or losses is included in other comprehensive income. Share-based payments The stock option plan allows employees to acquire shares in the Company at relatively advantageous conditions. The exercise price of the option is equal to the average stock market closing price of the Lotus Bakeries share during the thirty calendar days preceding the date of offering. A personnel cost is recognised for options granted to employees as part of the stock option plan. The cost is determined based on the fair value of the stock options on the grant date and, together with an equal increase in equity, is recognised over the vesting period, ending on the date when the employees receive full right to the options. When the options are exercised, the proceeds received net of any directly attributable transaction costs are credited to share capital (nominal value) and share premium.1.21 Income taxes Income taxes include current and deferred taxes. Both taxes are recognised in the income statement except if the underlying transaction has been recognised directly in other comprehensive income. If so, the related income taxes are also directly recognised in other comprehensive income.Current taxes include the amount of tax payable on the taxable earnings for the period calculated at the tax rate applicable on the reporting date. They also include adjustments to income tax liabilities for previous years. In line with IAS 12 \u2013 Income Taxes, management assesses on a periodic basis the positions taken in tax declarations in respect of items subject to interpretation in the tax legislation, and records, if necessary, additional income tax liabilities based on the expected amounts payable to the tax authorities. The assessment is made for all fiscal periods still subject to controls by the authorities. Deferred taxes are calculated using the balance sheet method and result mainly from temporary differences between the carrying amount of both assets and liabilities in the statement of financial position and their respective tax base. Deferred taxes are measured at the tax rates that are expected to apply in the year when the asset is realised or the liability is settled, based on tax rates (and tax laws) that have been enacted or substantively enacted at reporting date. Deferred taxes are recognised at their nominal value and are not discounted.Deferred tax assets from deductible temporary differences and unused tax losses carry forwards are recognised to the extent that it is probable that taxable profits will be available against which the deductible temporary differences, and the carry forward of unused tax credits and unused tax losses can be offset. The carrying amount of deferred tax assets is reassessed at each reporting date and reduced when it is no longer probable that the related tax savings can be generated. Unrecognised deferred tax assets are reassessed at each reporting date and are recognised to the extent that it is probable that future taxable profits allow the deferred tax asset to be recovered. Deferred tax assets and liabilities are offset when there is a legally enforceable right to set off current tax assets against current tax liabilities and the deferred taxes relate to the same taxable entity and the same taxation authority.Non-recurring income and expensesNon-recurring income and expenses are those items that are considered by management not to relate to transactions, projects and adjustments to the value of assets and liabilities taking place in the ordinary course of activities of the Company. Non-recurring income and expenses are presented separately, due to their size or nature, so as to allow users of the consolidated financial statements of the Company to get a better understanding of the normalised performance of the Company. Non-recurring income and expenses relate to:\u2022 Expenses relating to business combinations and other acquisitions ofinvestments;\u2022 Changes to the Group structure, including costs related to the liquidation ofsubsidiaries and the closure, opening or relocations of activities;\u2022 Impairment of assets and major litigations.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForExpensesExplanatory", "language": "en", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "pp-value-67-4": { "value": "1.19 Employee benefits Short-term employee benefitsBonuses for employees and management are calculated based on key financial objectives and individual objectives. The estimated amount of the bonuses is recognised as an expense in the period in which the related services have been rendered, based on an estimate on the reporting date.Post-employment benefits (pension plans)Group companies operate various pension schemes. The Group has both defined benefit and defined contribution plans.A defined contribution plan is a pension plan under which the Group pays fixed contributions into a separate entity. The Group has no legal or constructive obligations to pay further contributions if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods. The contributions are recognised as employee benefit expense when they are due.In addition, there are also defined benefit pension plans in certain subsidiaries of the Group (mainly Germany, the Netherlands and France). Typically, defined benefit plans define an amount of pension benefit that an employee will receive on retirement, usually dependent on one or more factors such as age, years of service and compensation.For the defined benefit pension plans, the liability is measured at the present value of the defined benefit obligation at the end of the reporting period less the fair value of plan assets. The defined benefit obligation is calculated annually by independent actuaries using the projected unit credit method.Defined benefit costs are divided into 2 categories: \u2022 Current service cost, past service cost, gains and losses on curtailments and settlements;\u2022 Net interest expense or income. The current and past service cost, the net interest expense, the remeasurement of other long-term personnel expenses, administrative expenses and taxes for the reporting period are included in the personnel expenses in the income statement. The remeasurement on the net defined benefit liability as a consequence of actuarial gains or losses is included in other comprehensive income. Share-based payments The stock option plan allows employees to acquire shares in the Company at relatively advantageous conditions. The exercise price of the option is equal to the average stock market closing price of the Lotus Bakeries share during the thirty calendar days preceding the date of offering. A personnel cost is recognised for options granted to employees as part of the stock option plan. The cost is determined based on the fair value of the stock options on the grant date and, together with an equal increase in equity, is recognised over the vesting period, ending on the date when the employees receive full right to the options. When the options are exercised, the proceeds received net of any directly attributable transaction costs are credited to share capital (nominal value) and share premium.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForEmployeeBenefitsExplanatory", "language": "en", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "pp-value-68-5": { "value": "Post-employment benefits (pension plans)Group companies operate various pension schemes. The Group has both defined benefit and defined contribution plans.A defined contribution plan is a pension plan under which the Group pays fixed contributions into a separate entity. The Group has no legal or constructive obligations to pay further contributions if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods. The contributions are recognised as employee benefit expense when they are due.In addition, there are also defined benefit pension plans in certain subsidiaries of the Group (mainly Germany, the Netherlands and France). Typically, defined benefit plans define an amount of pension benefit that an employee will receive on retirement, usually dependent on one or more factors such as age, years of service and compensation.For the defined benefit pension plans, the liability is measured at the present value of the defined benefit obligation at the end of the reporting period less the fair value of plan assets. The defined benefit obligation is calculated annually by independent actuaries using the projected unit credit method.Defined benefit costs are divided into 2 categories: \u2022 Current service cost, past service cost, gains and losses on curtailments and settlements;\u2022 Net interest expense or income. The current and past service cost, the net interest expense, the remeasurement of other long-term personnel expenses, administrative expenses and taxes for the reporting period are included in the personnel expenses in the income statement. The remeasurement on the net defined benefit liability as a consequence of actuarial gains or losses is included in other comprehensive income. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForTerminationBenefits", "language": "en", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "pp-value-70-6": { "value": "Share-based payments The stock option plan allows employees to acquire shares in the Company at relatively advantageous conditions. The exercise price of the option is equal to the average stock market closing price of the Lotus Bakeries share during the thirty calendar days preceding the date of offering. A personnel cost is recognised for options granted to employees as part of the stock option plan. The cost is determined based on the fair value of the stock options on the grant date and, together with an equal increase in equity, is recognised over the vesting period, ending on the date when the employees receive full right to the options. When the options are exercised, the proceeds received net of any directly attributable transaction costs are credited to share capital (nominal value) and share premium.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForSharebasedPaymentTransactionsExplanatory", "language": "en", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "pp-value-71-3": { "value": "1.20 Revenue recognition Revenue is included in the income statement when it is probable that the Group will receive economic benefits from the transaction and the revenue can be measured reliably. Revenue of the Group is generated principally through the sale of goods with as only performance obligation the delivery of goods. Revenue recognition occurs at a point in time, when control of the asset is transferred to the customer, generally on delivery of the goods.Customer contracts include trade discounts or volume rebates, which are granted to the customer if the delivered quantities exceed a certain threshold. In these cases, the transaction price includes a variable consideration. The effect of the variable consideration on the transaction price is taken into account in revenue recognition by estimating the probability of the realisation of the discount or rebate for each contract. Furthermore, the Group considers all payments made to customers and whether these are related to the revenue generated from the customer.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForRecognitionOfRevenue", "language": "en", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "pp-value-72-4": { "value": "Customer contracts include trade discounts or volume rebates, which are granted to the customer if the delivered quantities exceed a certain threshold. In these cases, the transaction price includes a variable consideration. The effect of the variable consideration on the transaction price is taken into account in revenue recognition by estimating the probability of the realisation of the discount or rebate for each contract. Furthermore, the Group considers all payments made to customers and whether these are related to the revenue generated from the customer.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForDiscountsAndRebatesExplanatory", "language": "en", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "pp-value-74-4": { "value": "1.21 Income taxes Income taxes include current and deferred taxes. Both taxes are recognised in the income statement except if the underlying transaction has been recognised directly in other comprehensive income. If so, the related income taxes are also directly recognised in other comprehensive income.Current taxes include the amount of tax payable on the taxable earnings for the period calculated at the tax rate applicable on the reporting date. They also include adjustments to income tax liabilities for previous years. In line with IAS 12 \u2013 Income Taxes, management assesses on a periodic basis the positions taken in tax declarations in respect of items subject to interpretation in the tax legislation, and records, if necessary, additional income tax liabilities based on the expected amounts payable to the tax authorities. The assessment is made for all fiscal periods still subject to controls by the authorities. Deferred taxes are calculated using the balance sheet method and result mainly from temporary differences between the carrying amount of both assets and liabilities in the statement of financial position and their respective tax base. Deferred taxes are measured at the tax rates that are expected to apply in the year when the asset is realised or the liability is settled, based on tax rates (and tax laws) that have been enacted or substantively enacted at reporting date. Deferred taxes are recognised at their nominal value and are not discounted.Deferred tax assets from deductible temporary differences and unused tax losses carry forwards are recognised to the extent that it is probable that taxable profits will be available against which the deductible temporary differences, and the carry forward of unused tax credits and unused tax losses can be offset. The carrying amount of deferred tax assets is reassessed at each reporting date and reduced when it is no longer probable that the related tax savings can be generated. Unrecognised deferred tax assets are reassessed at each reporting date and are recognised to the extent that it is probable that future taxable profits allow the deferred tax asset to be recovered. Deferred tax assets and liabilities are offset when there is a legally enforceable right to set off current tax assets against current tax liabilities and the deferred taxes relate to the same taxable entity and the same taxation authority.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForIncomeTaxExplanatory", "language": "en", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "pp-value-75-5": { "value": "Deferred taxes are calculated using the balance sheet method and result mainly from temporary differences between the carrying amount of both assets and liabilities in the statement of financial position and their respective tax base. Deferred taxes are measured at the tax rates that are expected to apply in the year when the asset is realised or the liability is settled, based on tax rates (and tax laws) that have been enacted or substantively enacted at reporting date. Deferred taxes are recognised at their nominal value and are not discounted.Deferred tax assets from deductible temporary differences and unused tax losses carry forwards are recognised to the extent that it is probable that taxable profits will be available against which the deductible temporary differences, and the carry forward of unused tax credits and unused tax losses can be offset. The carrying amount of deferred tax assets is reassessed at each reporting date and reduced when it is no longer probable that the related tax savings can be generated. Unrecognised deferred tax assets are reassessed at each reporting date and are recognised to the extent that it is probable that future taxable profits allow the deferred tax asset to be recovered. Deferred tax assets and liabilities are offset when there is a legally enforceable right to set off current tax assets against current tax liabilities and the deferred taxes relate to the same taxable entity and the same taxation authority.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForDeferredIncomeTaxExplanatory", "language": "en", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "pp-value-77-3": { "value": "1.22 Segment reporting Group revenue is centralised around a number of products that are all included in the traditional and natural snack segment. For these products, the Group is organised according to geographical regions for sales, production and internal reporting. The result of a segment includes the income and expenses directly generated by a segment. To this is added the portion of the income and expenses that can be reasonably attributed to the segment. Intersegment price-fixing is defined based on the \u2018at arm\u2019s length\u2019 principle. Considering that the chief operating decision maker does not review on a regular basis items of the statement of financial position per segment, segment assets and liabilities are not disclosed.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForSegmentReportingExplanatory", "language": "en", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "pp-value-80-3": { "value": "The following table presents the impact of the acquisition of subsidiaries within the investing activities in the consolidated cash flow statement:IN THOUSANDS OF EUR TOTALConsideration paid in cash 9,639 Cash and cash equivalents acquired (433)ACQUISITION OF SUBSIDIARIES, NET OF CASH ACQUIRED 9,205The following table reconciles the movements of the interest-bearing liabilities to the cash flows arising from financing activities for the year ending December 31, 2022:NON-CASH MOVEMENTSAS AT EXCHANGE AS AT IN THOUSANDS OF EURJANUARY 1, 2022 CASH FLOWS ACQUISITIONDIFFERENCES RECLASSES OTHERDECEMBER 31, 2022Non-current interest-bearing liabilitiesBank loans 209,500 12,000 - - (39,000) - 182,500 Lease liabilities 9,337 - 9,847 (304) (4,990) (324) 13,566 Current interest-bearing liabilitiesBank loans 14,000 13,000 - - 39,000 - 66,000 Lease liabilities 3,439 (4,187) - (64) 4,990 - 4,178 TOTAL LIABILITIES FROM FINANCING ACTIVITIES 236,276 20,813 9,847 (368) - (324) 266,244 ", "dimensions": { "concept": "ifrs-full:DisclosureOfCashFlowStatementExplanatory", "language": "en", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "pp-value-81-3": { "value": "Upon acquisition of Peter\u2019s Yard, the initial investment of 20% held by the Group through FF2032 has been remeasured at fair value in accordance with IFRS 3.The amounts above with respect to fair value of net assets acquired and goodwill are provisional as not all fair value measurements have been finalised.As a result of the acquisition accounting, the Company has allocated the purchase price (consideration paid) and has calculated the fair value of the assets acquired and liabilities assumed, in accordance with generally applied valuation rules. The purchase price was allocated to intangible assets (brands), which have been measured at fair value.Goodwill arose because the consideration for the combination effectively included amounts in relation to the benefit of expected synergies, revenue growth and future market development. Management deems that there is a strategic fit between the TMLotus Natural Foods business and Peter\u2019s Yard as they have complementing product offerings. The resulting goodwill is not tax deductible.The gross contractual amount of the trade receivables amounts to EUR 2.2 million, which equals the carrying amount. The Group has not incurred significant acquisition-related expenses. Considering that the acquisition was only finalised at the reporting date, Peter\u2019s Yard has not yet contributed to the Group\u2019s profit for the period.If the acquisition of Peter\u2019s Yard had been completed on the first day of the financial year, Group revenue for the year would have been approximately GBP 6 million higher and Group profit would not have been impacted significantly.The value of these brands was established as part of the valuation at fair value of the asset and liability components upon first consolidation. The brands are currently not amortised as the useful life is deemed to be indefinite. Therefore, an annual impairment test is performed to assess the recoverability of the brands.At year-end 2022, the Group tested the value of these brands to assess any recoverability issues. Taking into account the assumptions used, the value in use of the related cash-generating units exceeds its carrying amount and no impairment loss is recognised. A reasonable change of the key assumptions (discount rate, growth rate) would not result in the recognition of any impairment loss.For more details on the impairment test conducted per CGU, we refer to note 12 on goodwill.Although Lotus Bakeries believes that its assessments, assumptions and estimates are reasonable, actual results may differ from these estimates in the event of changed assumptions and conditions. 18. CASH AND CASH EQUIVALENTSCash and cash equivalents consist of balances on bank accounts at market conditions. The fair value of these cash and cash equivalents is therefore equal to the carrying amount.The stock option plans are considered equity-settled share-based payments.The fair value of the options is estimated at the grant date, using the binomial valuation model. This valuation model is based on the following market data and assumptions: the share price at the time of allotment, the exercise price, the exercise arrangements, the estimated volatility, the dividend expectations and the risk-free interest rate. The fair value of the share options is recognised linearly over the vesting period.The following table details the different plans granted and the assumptions used for the measurement of the fair value:GRANTED IN 2017 2018 2019 2020 2021 2022Number granted 1,846 1,179 1,199 962 660 792 Number exercised (1,593) (798) (60) (50) (33) -Number expired (253) (40) (50) (40) (26) -Available options - 341 1,089 872 601 792 Key assumptions used for fair value measurement 01/01/2021 - 01/01/2022 - 01/01/2023 - 01/01/2024 - 01/01/2025 - 01/01/2026 - Exercise period11/05/202214/05/202309/05/202407/05/202517/05/202630/06/2027Exercise price (EUR) 2,331.77 2,373.00 2,351.58 2,828.95 4,517.14 5,057.32 Share price (EUR) 2,459.00 2,310.00 2,330.00 2,890.00 4,630.00 4,868.81 Expected volatility 22.02% 22.43% 23.14% 25.07% 23.69% 25.39%Dividend yield 1.07% 0.93% 0.92% 0.95% 0.94% 0.97%Risk-free rate -0.12% 0.11% -0.29% -0.36% -0.34% 0.82%FAIR VALUE PER OPTION (EUR) 378.27 316.29 331.55 471.65 720.51 790.38 The volatility is based on daily share prices of Lotus Bakeries over the last three years.For the defined benefit pension plan, the liabilities are measured on a discounted basis because they are settled many years after the employees render the related service. A qualified actuary has determined the present value of the defined benefit obligations and the fair value of the plan assets. These assets are held by an insurance company. The projected unit credit method was used to estimate the defined benefit obligations, the defined benefit cost and the remeasurements of the net liability. Provisions are determined by computing the actuarial value of future payments to the employees in question.The plan assets consist of insurance contracts.Expected contributions to post-employment benefit plans for the year ending December 31, 2023 are EUR 479 thousands.The principal assumptions used in determining post-employment obligations for the Group\u2019s plans are as follows:DECEMBER 31, 2022THE BELGIUMNETHERLANDS FRANCE GERMANY SWITZERLANDDiscount rate 3.12% 4.00% 3.12% 3.40% 2.24%Inflation rate 2.20% 1.50% 2.20% 2.20% 2.00%DECEMBER 31, 2021THE BELGIUMNETHERLANDS FRANCE GERMANYDiscount rate 0.35% 1.00% 0.00% 0.90%Inflation rate 1.80% 1.00% 1.80% 1.75%Through its defined benefit plans, the Group is exposed to a number of risks, the most relevant are detailed below: \u2022 Changes in bond yields: a decrease in corporate bond yields will increase plan liabilities, although this will be partially offset by an increase in the value of the plan\u2019s bond holdings; \u2022 Salary risk: the majority of the plan\u2019s benefit obligations are calculated by reference to the future salaries of plan members. As such, a higher-than-expected salary increase of plan members will lead to higher liabilities; \u2022 Longevity risk: pension plans provide for benefits for the life of the plan members, so increases in life expectancy will result in an increase in the plan\u2019s liabilities. The actuary has performed a sensitivity analysis on the above actuarial assumptions. As such, both the discount rate and the inflation rate were altered by 50 basis points. A change in the estimates used does not lead to a material impact on the consolidated financial statements.24. OTHER LIABILITIES The other non-current liabilities relate to put options granted to third parties with respect to the remaining non-controlling interests in Natural Balance Foods Ltd., where these put options give holders the right to sell (part of) their investment in this subsidiary. At the end of December 2022, Lotus Bakeries held 97.9% of the shares, with the remaining 2.1% still held by the founders. These put options are unconditional and the exercise price depends on the future financial performance (revenue and operating result) of Natural Balance Foods Ltd. In accordance with IAS 32, where non-controlling interests hold put options giving them the right to sell their investment, a financial liability is recorded for the present value of the exercise price expected to be paid. These put options are classified as level 3 instruments in accordance with the fair value hierarchy of IFRS 7 \u2013 Financial Instruments: Disclosures. The counterpart of this liability is a cancellation of the underlying non-controlling interest. The difference between the value of the non-controlling interest and the fair value of the liability is added to the consolidated reserves, which are included in shareholders\u2019 equity.The fair value of the financial assets and liabilities measured at amortised cost approximate their carrying amount.The financial instruments measured at fair value are grouped into Levels 1 to 3 based on the degree to which the fair value is observable:\u2022 Level 1 fair value measurements are those derived from quoted prices (unadjusted) in active markets for identical assets or liabilities;\u2022 Level 2 fair value measurements are those derived from 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);\u2022 Level 3 fair value measurements are those derived from valuation techniques that include input for the asset or liability that are not based on observable market data (unobservable input).The fair values of the derivatives of the Group are based on level 2 inputs as defined under IFRS 7.27.The fair value of the other non-current liabilities (put options, see note 24) is based on level 3 input.", "dimensions": { "concept": "ifrs-full:DisclosureOfFairValueMeasurementExplanatory", "language": "en", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "pp-value-78-2": { "value": "2. CHANGES TO THE CONSOLIDATION SCOPEAcquisitions 2022On December 31, 2022, the Company finalised the acquisition of the remaining shares in Peter\u2019s Yard through its 100% subsidiary Lotus Bakeries International und Schweiz AG. Peter\u2019s Yard is a British artisanal sourdough company that produces healthy and delicious sourdough crackers and sourdough crisps made from only natural ingredients. As a brand, it has grown significantly over the last three years, doubling revenue in the UK to around GBP 6 million in revenue.TMPeter\u2019s Yard will become part of the Lotus Natural Foods business under the leadership of Isabelle Maes, CEO Natural Foods. The initial focus for Peter\u2019s Yard will be to further accelerate growth in the UK. The brand complements the TMexisting Lotus Natural Foods portfolio that contains the strong brands of n\u0101kd, BEAR, TREK and Kiddylicious.In July 2019, the Company acquired a 20% stake in Peter\u2019s Yard via its venture capital vehicle, Fast Forward 2032 (\u2018FF2032\u2019).The consideration paid for the business combination (remaining 80% share) amounts to EUR 9.6 million in cash.The assets acquired and liabilities assumed recognised in the consolidated statement of financial position at acquisition date and the amount of goodwill are presented in the following table:IN THOUSANDS OF EURRECOGNISED AMOUNTS OF IDENTIFIABLE ASSETS ACQUIRED AND LIABILITIES ASSUMED Cash and cash equivalents 433 Intangible assets 5,697 Right-of-use assets 651 Inventories 542 Trade and other receivables 2,290 Interest-bearing liabilities (502)Trade and other payables (1,950)Other current assets and liabilities (2,082)Deferred tax liabilities (890)Total identifiable net assets acquired 4,188Allocation to goodwill 7,876 TOTAL CONSIDERATION 12,064TOTAL CONSIDERATIONFair value of initial investment 2,425 Cash consideration 9,639 TOTAL CONSIDERATION 12,064The following table presents the impact of the acquisition of subsidiaries within the investing activities in the consolidated cash flow statement:IN THOUSANDS OF EUR TOTALConsideration paid in cash 9,639 Cash and cash equivalents acquired (433)ACQUISITION OF SUBSIDIARIES, NET OF CASH ACQUIRED 9,205Upon acquisition of Peter\u2019s Yard, the initial investment of 20% held by the Group through FF2032 has been remeasured at fair value in accordance with IFRS 3.The amounts above with respect to fair value of net assets acquired and goodwill are provisional as not all fair value measurements have been finalised.As a result of the acquisition accounting, the Company has allocated the purchase price (consideration paid) and has calculated the fair value of the assets acquired and liabilities assumed, in accordance with generally applied valuation rules. The purchase price was allocated to intangible assets (brands), which have been measured at fair value.Goodwill arose because the consideration for the combination effectively included amounts in relation to the benefit of expected synergies, revenue growth and future market development. Management deems that there is a strategic fit between the TMLotus Natural Foods business and Peter\u2019s Yard as they have complementing product offerings. The resulting goodwill is not tax deductible.The gross contractual amount of the trade receivables amounts to EUR 2.2 million, which equals the carrying amount. The Group has not incurred significant acquisition-related expenses. Considering that the acquisition was only finalised at the reporting date, Peter\u2019s Yard has not yet contributed to the Group\u2019s profit for the period.If the acquisition of Peter\u2019s Yard had been completed on the first day of the financial year, Group revenue for the year would have been approximately GBP 6 million higher and Group profit would not have been impacted significantly.Other changes to the consolidation scopeIn 2022, following entities have been liquidated or merged:\u2022 NBF USA Inc., merged into Lotus Bakeries North America Inc.;\u2022 FF2032 NV, liquidated;\u2022 Lotus Bakeries Chile SpA, liquidated.Furthermore, the Group has created a new entity in Thailand, Lotus Asia Pacifc Ltd., in the context of the establishment of a production facility for Lotus\u00ae Biscoff\u00ae to further support the Group\u2019s growth ambition for Lotus\u00ae Biscoff\u00ae.In 2021, Lotus Bakeries acquired all remaining shares of Lotus Bakeries Italia S.r.l. for an amount of EUR 274 thousands. Furthermore, FF2032 AG was founded.The complete list of companies included in the consolidation scope is disclosed in note 32.12. GOODWILLIN THOUSANDS OF EUR TOTALCarrying amount as at January 1, 2021 216,485 Effect of movements in foreign exchange rates 8,361 Carrying amount as at December 31, 2021 224,846 Acquisitions through business combinations 7,876 Effect of movements in foreign exchange rates (7,476)CARRYING AMOUNT AS AT DECEMBER 31, 2022 225,246 The addition in 2022 relates to the acquisition of Peter\u2019s Yard (see note 2), which TMwas allocated to the cash-generating unit Lotus Natural Foods.For sales, production and internal reporting, the Group is organised into geographic regions (see also segment reporting). The segments consist of underlying business units. These business units represent the lowest level within the Group at which the goodwill is monitored for internal management purposes. These business units are the cash-generating units to which goodwill is allocated. The carrying amount of goodwill has been allocated to the various independent cash-generating units as follows:IN THOUSANDS OF EUR DECEMBER 31, 2022 DECEMBER 31, 2021TMLotus Natural Foods (Natural Balance Foods, Urban Fresh Foods, Kiddylicious and Peter's Yard) 170,860 170,021 Belgium 20,773 20,773 The Netherlands 17,151 17,151 Asia 9,229 9,214 Nordics 5,528 5,984 Other 1,704 1,703 TOTAL GOODWILL 225,246 224,846Goodwill, representing approximately 21% of the total assets of Lotus Bakeries at December 31, 2022, is tested for impairment every year (or whenever there is a specific reason to do so) by comparing the carrying amount of each cash-generating unit (CGU) with its recoverable amount. The recoverable amount of a cash-generating unit is determined on the basis of the value in use. The value in use is determined as the present value of expected future cash flows based on the current long-term planning of the Group. The discount rate used in determining the present value of expected future cash flows is based on a weighted average cost of capital (WACC). The impairment test for goodwill is based on a number of critical judgements, estimates and assumptions. The assumptions are consistent and reasonable for all cash-generating units, which are mainly located in Europe and the UK: \u2022 Revenue and operating result: revenue and operating result reflects management\u2019s expectations based on past experience and taking into account the risks specific to the reportable business unit; \u2022 The first year of the model is based on the budget for the year, taking into account historical results and is management\u2019s best estimate of the free cash flow outlook for the current year; \u2022 In years two to three of the model, free cash flows are based on Lotus Bakeries\u2019 long-term plan. The long-term plan is prepared country by country, based on reasonable internal plans that take into account the specific market situation and the past; \u2022 Cash flows beyond the first three years are extrapolated by applying a perpetual growth rate, lying between 1.0% and 4.0%; \u2022 Projections are discounted at the pre-tax weighted average cost of capital, which lies between 6.1% and 7.5%.At the end of 2022, Lotus Bakeries has completed its annual impairment test of goodwill and concludes no impairment was present. The Company believes all its assessments to be reasonable: they are consistent with the internal reporting and reflect management\u2019s best estimates. As part of the impairment test, the Company carried out a sensitivity analysis for important assumptions used, including the weighted average cost of capital and long-term growth percentage. Here, a fall in the long-term growth percentage by 100 basis points and an increase in the weighted average cost of capital before tax by 100 basis points were applied. A change in the estimates used, as described above, does not lead to a potential material impairment. Although Lotus Bakeries believes that its assessments, assumptions and estimates are suitable, actual results may differ from these estimates in the event of changed assumptions and conditions.", "dimensions": { "concept": "ifrs-full:DisclosureOfBusinessCombinationsExplanatory", "language": "en", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "pp-value-83-2": { "value": "3. SEGMENT REPORTINGFor the purpose of sales, production and internal reporting, the Group is classified according to geographical regions. The regions presented in the segment reporting, which are based on the internal reporting system, are composed as follows:\u2022 Belgium: sales by Sales Office Belgium and intra-group sales by factories in Belgium;\u2022 France: sales by Sales Office France and intra-group sales by factories in France;\u2022 The Netherlands: sales by Sales Office The Netherlands and intra-group sales by factories in the Netherlands;\u2022 UK: sales by Sales Office UK, Natural Balance Foods, Urban Fresh Foods and Kiddylicious, and the intra-group sales by the factory in South-Africa;\u2022 Other: sales from Belgium to countries without own Sales Office and by own Sales Offices in Germany, Austria, Switzerland, the Czech Republic/Slovakia, United States, Spain, Italy, China, South Korea, Sweden/Finland as well as intra-group sales by factories in Sweden and the US.Sales between the various segments are carried out at arm\u2019s length.PERIOD ENDED DECEMBER 31, 2022ELIMINATIONS / IN THOUSANDS OF EUR BELGIUM FRANCE THE NETHERLANDS UK OTHERGROUP TOTAL SEGMENT REVENUE 358,123 107,929 81,100 224,754 342,041 (236,495) 877,451Revenue from external customers 182,834 94,588 79,956 197,584 322,490 - 877,451 Intersegment revenue 175,289 13,341 1,144 27,170 19,551 (236,495) -SEGMENT RESULTS (REBIT) 36,733 10,806 8,344 35,013 43,960 5,333 140,188 Non-recurring income and expenses (3,807) Operating result (EBIT) 136,381 Financial result (2,354) Profit for the period before taxes 134,027 Income taxes (30,744) Result after taxes 103,283 OTHER SEGMENT INFORMATION Capital expenditure:Tangible assets 58,277 1,013 1,962 6,091 68,181 6,428 141,952 Intangible assets - - - - 522 784 1,306 Depreciations and amortisations on (in)tangible assets 11,316 1,149 2,948 1,266 5,688 2,878 25,245 PERIOD ENDED DECEMBER 31, 2021ELIMINATIONS / IN THOUSANDS OF EUR BELGIUM FRANCE THE NETHERLANDS UK OTHERGROUP TOTAL SEGMENT REVENUE 324,701 105,170 84,459 195,266 233,248 (192,593) 750,251 Revenue from external customers 169,976 92,443 80,488 176,598 230,746 - 750,251 Intersegment revenue 154,725 12,727 3,971 18,668 2,502 (192,593) -SEGMENT RESULTS (REBIT) 39,166 7,043 10,152 34,377 23,569 9,498 123,805 Non-recurring income and expenses (4,135) Operating result (EBIT) 119,670 Financial result (2,373) Profit for the period before taxes 117,297 Income taxes (26,554) Result after taxes 90,743OTHER SEGMENT INFORMATION Capital expenditure:Tangible assets 29,730 619 2,043 2,970 18,135 4,196 57,693 Intangible assets - - 40 11 - 1,692 1,743 Depreciations and amortisations on (in)tangible assets 10,282 1,217 2,954 1,195 5,063 2,404 23,115 ", "dimensions": { "concept": "ifrs-full:DisclosureOfEntitysReportableSegmentsExplanatory", "language": "en", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "pp-value-83-3": { "value": "3. SEGMENT REPORTINGFor the purpose of sales, production and internal reporting, the Group is classified according to geographical regions. The regions presented in the segment reporting, which are based on the internal reporting system, are composed as follows:\u2022 Belgium: sales by Sales Office Belgium and intra-group sales by factories in Belgium;\u2022 France: sales by Sales Office France and intra-group sales by factories in France;\u2022 The Netherlands: sales by Sales Office The Netherlands and intra-group sales by factories in the Netherlands;\u2022 UK: sales by Sales Office UK, Natural Balance Foods, Urban Fresh Foods and Kiddylicious, and the intra-group sales by the factory in South-Africa;\u2022 Other: sales from Belgium to countries without own Sales Office and by own Sales Offices in Germany, Austria, Switzerland, the Czech Republic/Slovakia, United States, Spain, Italy, China, South Korea, Sweden/Finland as well as intra-group sales by factories in Sweden and the US.Sales between the various segments are carried out at arm\u2019s length.PERIOD ENDED DECEMBER 31, 2022ELIMINATIONS / IN THOUSANDS OF EUR BELGIUM FRANCE THE NETHERLANDS UK OTHERGROUP TOTAL SEGMENT REVENUE 358,123 107,929 81,100 224,754 342,041 (236,495) 877,451Revenue from external customers 182,834 94,588 79,956 197,584 322,490 - 877,451 Intersegment revenue 175,289 13,341 1,144 27,170 19,551 (236,495) -SEGMENT RESULTS (REBIT) 36,733 10,806 8,344 35,013 43,960 5,333 140,188 Non-recurring income and expenses (3,807) Operating result (EBIT) 136,381 Financial result (2,354) Profit for the period before taxes 134,027 Income taxes (30,744) Result after taxes 103,283 OTHER SEGMENT INFORMATION Capital expenditure:Tangible assets 58,277 1,013 1,962 6,091 68,181 6,428 141,952 Intangible assets - - - - 522 784 1,306 Depreciations and amortisations on (in)tangible assets 11,316 1,149 2,948 1,266 5,688 2,878 25,245 PERIOD ENDED DECEMBER 31, 2021ELIMINATIONS / IN THOUSANDS OF EUR BELGIUM FRANCE THE NETHERLANDS UK OTHERGROUP TOTAL SEGMENT REVENUE 324,701 105,170 84,459 195,266 233,248 (192,593) 750,251 Revenue from external customers 169,976 92,443 80,488 176,598 230,746 - 750,251 Intersegment revenue 154,725 12,727 3,971 18,668 2,502 (192,593) -SEGMENT RESULTS (REBIT) 39,166 7,043 10,152 34,377 23,569 9,498 123,805 Non-recurring income and expenses (4,135) Operating result (EBIT) 119,670 Financial result (2,373) Profit for the period before taxes 117,297 Income taxes (26,554) Result after taxes 90,743OTHER SEGMENT INFORMATION Capital expenditure:Tangible assets 29,730 619 2,043 2,970 18,135 4,196 57,693 Intangible assets - - 40 11 - 1,692 1,743 Depreciations and amortisations on (in)tangible assets 10,282 1,217 2,954 1,195 5,063 2,404 23,115 ", "dimensions": { "concept": "ifrs-full:DisclosureOfRevenueExplanatory", "language": "en", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "pp-value-83-4": { "value": "3. SEGMENT REPORTINGFor the purpose of sales, production and internal reporting, the Group is classified according to geographical regions. The regions presented in the segment reporting, which are based on the internal reporting system, are composed as follows:\u2022 Belgium: sales by Sales Office Belgium and intra-group sales by factories in Belgium;\u2022 France: sales by Sales Office France and intra-group sales by factories in France;\u2022 The Netherlands: sales by Sales Office The Netherlands and intra-group sales by factories in the Netherlands;\u2022 UK: sales by Sales Office UK, Natural Balance Foods, Urban Fresh Foods and Kiddylicious, and the intra-group sales by the factory in South-Africa;\u2022 Other: sales from Belgium to countries without own Sales Office and by own Sales Offices in Germany, Austria, Switzerland, the Czech Republic/Slovakia, United States, Spain, Italy, China, South Korea, Sweden/Finland as well as intra-group sales by factories in Sweden and the US.Sales between the various segments are carried out at arm\u2019s length.PERIOD ENDED DECEMBER 31, 2022ELIMINATIONS / IN THOUSANDS OF EUR BELGIUM FRANCE THE NETHERLANDS UK OTHERGROUP TOTAL SEGMENT REVENUE 358,123 107,929 81,100 224,754 342,041 (236,495) 877,451Revenue from external customers 182,834 94,588 79,956 197,584 322,490 - 877,451 Intersegment revenue 175,289 13,341 1,144 27,170 19,551 (236,495) -SEGMENT RESULTS (REBIT) 36,733 10,806 8,344 35,013 43,960 5,333 140,188 Non-recurring income and expenses (3,807) Operating result (EBIT) 136,381 Financial result (2,354) Profit for the period before taxes 134,027 Income taxes (30,744) Result after taxes 103,283 OTHER SEGMENT INFORMATION Capital expenditure:Tangible assets 58,277 1,013 1,962 6,091 68,181 6,428 141,952 Intangible assets - - - - 522 784 1,306 Depreciations and amortisations on (in)tangible assets 11,316 1,149 2,948 1,266 5,688 2,878 25,245 PERIOD ENDED DECEMBER 31, 2021ELIMINATIONS / IN THOUSANDS OF EUR BELGIUM FRANCE THE NETHERLANDS UK OTHERGROUP TOTAL SEGMENT REVENUE 324,701 105,170 84,459 195,266 233,248 (192,593) 750,251 Revenue from external customers 169,976 92,443 80,488 176,598 230,746 - 750,251 Intersegment revenue 154,725 12,727 3,971 18,668 2,502 (192,593) -SEGMENT RESULTS (REBIT) 39,166 7,043 10,152 34,377 23,569 9,498 123,805 Non-recurring income and expenses (4,135) Operating result (EBIT) 119,670 Financial result (2,373) Profit for the period before taxes 117,297 Income taxes (26,554) Result after taxes 90,743OTHER SEGMENT INFORMATION Capital expenditure:Tangible assets 29,730 619 2,043 2,970 18,135 4,196 57,693 Intangible assets - - 40 11 - 1,692 1,743 Depreciations and amortisations on (in)tangible assets 10,282 1,217 2,954 1,195 5,063 2,404 23,115 ", "dimensions": { "concept": "ifrs-full:DisclosureOfRevenueFromContractsWithCustomersExplanatory", "language": "en", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "pp-value-83-5": { "value": "3. SEGMENT REPORTINGFor the purpose of sales, production and internal reporting, the Group is classified according to geographical regions. The regions presented in the segment reporting, which are based on the internal reporting system, are composed as follows:\u2022 Belgium: sales by Sales Office Belgium and intra-group sales by factories in Belgium;\u2022 France: sales by Sales Office France and intra-group sales by factories in France;\u2022 The Netherlands: sales by Sales Office The Netherlands and intra-group sales by factories in the Netherlands;\u2022 UK: sales by Sales Office UK, Natural Balance Foods, Urban Fresh Foods and Kiddylicious, and the intra-group sales by the factory in South-Africa;\u2022 Other: sales from Belgium to countries without own Sales Office and by own Sales Offices in Germany, Austria, Switzerland, the Czech Republic/Slovakia, United States, Spain, Italy, China, South Korea, Sweden/Finland as well as intra-group sales by factories in Sweden and the US.Sales between the various segments are carried out at arm\u2019s length.PERIOD ENDED DECEMBER 31, 2022ELIMINATIONS / IN THOUSANDS OF EUR BELGIUM FRANCE THE NETHERLANDS UK OTHERGROUP TOTAL SEGMENT REVENUE 358,123 107,929 81,100 224,754 342,041 (236,495) 877,451Revenue from external customers 182,834 94,588 79,956 197,584 322,490 - 877,451 Intersegment revenue 175,289 13,341 1,144 27,170 19,551 (236,495) -SEGMENT RESULTS (REBIT) 36,733 10,806 8,344 35,013 43,960 5,333 140,188 Non-recurring income and expenses (3,807) Operating result (EBIT) 136,381 Financial result (2,354) Profit for the period before taxes 134,027 Income taxes (30,744) Result after taxes 103,283 OTHER SEGMENT INFORMATION Capital expenditure:Tangible assets 58,277 1,013 1,962 6,091 68,181 6,428 141,952 Intangible assets - - - - 522 784 1,306 Depreciations and amortisations on (in)tangible assets 11,316 1,149 2,948 1,266 5,688 2,878 25,245 PERIOD ENDED DECEMBER 31, 2021ELIMINATIONS / IN THOUSANDS OF EUR BELGIUM FRANCE THE NETHERLANDS UK OTHERGROUP TOTAL SEGMENT REVENUE 324,701 105,170 84,459 195,266 233,248 (192,593) 750,251 Revenue from external customers 169,976 92,443 80,488 176,598 230,746 - 750,251 Intersegment revenue 154,725 12,727 3,971 18,668 2,502 (192,593) -SEGMENT RESULTS (REBIT) 39,166 7,043 10,152 34,377 23,569 9,498 123,805 Non-recurring income and expenses (4,135) Operating result (EBIT) 119,670 Financial result (2,373) Profit for the period before taxes 117,297 Income taxes (26,554) Result after taxes 90,743OTHER SEGMENT INFORMATION Capital expenditure:Tangible assets 29,730 619 2,043 2,970 18,135 4,196 57,693 Intangible assets - - 40 11 - 1,692 1,743 Depreciations and amortisations on (in)tangible assets 10,282 1,217 2,954 1,195 5,063 2,404 23,115 4. SERVICES AND OTHER GOODSServices and other goods include mainly commercial and marketing expenses, logistic expenses (transport and warehousing), professional fees (legal, accounting and consulting) and utilities.The increase compared to 2021 relates to increased sales and production volumes, next to increased costs of logistics and utilities.5. EMPLOYEE BENEFIT EXPENSES IN THOUSANDS OF EUR 2022 2021Short-term employee benefits 139,481 124,294 Social security contributions 21,789 19,690 Defined contribution costs 4,654 4,077 Defined benefit costs 303 128 Other employee benefit expenses 7,392 4,668 TOTAL EMPLOYEE BENEFIT EXPENSES 173,618 152,857Average number of employees 2,655 2,305 Number of employees as at the end of the year 2,698 2,398 The other employee benefit expenses include mainly the costs of training and other employee-related insurances.6. DEPRECIATION AND AMORTISATION EXPENSESIN THOUSANDS OF EUR 2022 2021Amortisation of intangible assets (see note 13) 1,033 1,086 Depreciation of property, plant and equipment (see note 14) 19,554 17,772 Depreciation of right-of-use assets (see note 14) 4,658 4,257 TOTAL DEPRECIATION AND AMORTISATION EXPENSES 25,245 23,115The other operating expenses include local indirect taxes (property taxes, municipal taxes, packaging tax \u2026) and penalties.8. NON-RECURRING INCOME AND EXPENSESNon-recurring income and expenses include operating income and expenses that do not belong to or derive from the recurring operating activities of the Group (normal course of business). This category includes primarily results from the disposal of fixed assets, any goodwill impairment losses, any impairment losses on fixed assets, expenses relating to the acquisition, disposal and start-up of new businesses, restructuring expenses and expenses relating to pandemics.IN THOUSANDS OF EUR 2022 2021Organisation restructuring (1,269) (326)Product range restructuring (1,081) (784)Office relocations (785) (1,323)Start-up costs related to capacity extensions (288) (835)Other (383) (867)TOTAL NON-RECURRING INCOME AND EXPENSES (3,807) (4,135) In 2022, as in 2021, the non-recurring result relates mainly to expenses of organisation restructuring, office relocation, acquisition costs, start-up costs for capacity extensions and product range restructuring.9. FINANCIAL RESULTIN THOUSANDS OF EUR 2022 2021Interest expenses (3,115) (2,883)Interest income 551 117 Interest income (expenses) (2,565) (2,766) Foreign exchange gains (losses) 988 886 Other financial income (expenses) (777) (493)TOTAL FINANCIAL RESULT (2,354) (2,373) The foreign exchange gains (losses) are related to the realisation and revaluation of financial positions mainly in GBP (pound sterling) and USD (US dollar).10. INCOME TAXESThe income tax recognised in the income statement can be detailed as follows:IN THOUSANDS OF EUR 2022 2021Current taxes in respect of the current year (29,417) (21,411)Current taxes in respect of the prior years (2,213) 1,885 Deferred taxes 885 (7,028)TOTAL INCOME TAX EXPENSE (30,744) (26,554) In 2021, there was a one-off negative impact on deferred taxes as a result of the corporate income tax rate increase to 25% in the UK as from April 2023. This is an accounting and non-cash effect. The average effective tax rate is 22.9%, compared to 22.6% in 2021.The income tax expense can be reconciled as follows:IN THOUSANDS OF EUR 2022 2021Result for the period before taxes 134,027 117,297 Legal tax rate 25.00% 25.00%Income tax expense computed at the legal tax rate (33,507) (29,324) Effect of different tax rates in other countries 2,481 2,020 Deductions of taxable income 1,472 2,646 Tax adjustments for prior years 429 4,193 Disallowed expenses (1,056) (736) Tax exempted income 66 5 Tax losses used for which no deferred tax asset has been recorded (21) 20 Changes in tax rate or new taxes (670) (4,901) Other 61 (477) TOTAL INCOME TAX EXPENSE (30,744) (26,554) Effective tax rate 22.9% 22.6%During 2022, the Group has incurred research and development expenses of EUR 1,458 thousands (2021: EUR 1,473 thousands), which are mainly composed of employee benefit expenses and consumables.Write-down on inventories of EUR 3,519 thousands (2021: EUR 3,372 thousands) relate mainly to packaging material (2022: EUR 1,411 thousands; 2021: EUR 987 thousands), finished products (2022: EUR 1,297 thousands; 2021: EUR 1,053 thousands) and goods for resale (2022: EUR 542 thousands; 2021: EUR 1,236 thousands).With regard to trade receivables there are no indications that debtors will not meet their payment obligations. Nor are there any customers representing more than 10% of the consolidated revenue. IFRS 9 requires the Company to recognise an allowance for expected losses on the recovery of trade receivables. This has no material impact. More information regarding the credit risk is disclosed in note 26.Movements on valuation for impairment of trade receivables are as follows:IN THOUSANDS OF EUR DECEMBER 31, 2022 DECEMBER 31, 2021Opening balance 526 697 Allowances recognised 472 12 Amounts written off during the year as uncollectible (159) (208) Exchange differences (37) 25 TOTAL ALLOWANCE FOR IMPAIRMENT OF TRADE RECEIVABLES 803 526 31. AUDIT FEESIN THOUSANDS OF EUR 2022 2021Audit feesLotus Bakeries NV 152 88 Lotus Bakeries Group 443 401 Additional services rendered by the Auditor or its related partiesOther audit-related fees 111 65 Tax fees 43 107 Other non-audit fees 50 -TOTAL 799 661 ", "dimensions": { "concept": "ifrs-full:DisclosureOfExpensesExplanatory", "language": "en", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "pp-value-87-3": { "value": "4. SERVICES AND OTHER GOODSServices and other goods include mainly commercial and marketing expenses, logistic expenses (transport and warehousing), professional fees (legal, accounting and consulting) and utilities.The increase compared to 2021 relates to increased sales and production volumes, next to increased costs of logistics and utilities.", "dimensions": { "concept": "ifrs-full:DisclosureOfGeneralAndAdministrativeExpenseExplanatory", "language": "en", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "pp-value-87-4": { "value": "4. SERVICES AND OTHER GOODSServices and other goods include mainly commercial and marketing expenses, logistic expenses (transport and warehousing), professional fees (legal, accounting and consulting) and utilities.The increase compared to 2021 relates to increased sales and production volumes, next to increased costs of logistics and utilities.5. EMPLOYEE BENEFIT EXPENSES IN THOUSANDS OF EUR 2022 2021Short-term employee benefits 139,481 124,294 Social security contributions 21,789 19,690 Defined contribution costs 4,654 4,077 Defined benefit costs 303 128 Other employee benefit expenses 7,392 4,668 TOTAL EMPLOYEE BENEFIT EXPENSES 173,618 152,857Average number of employees 2,655 2,305 Number of employees as at the end of the year 2,698 2,398 The other employee benefit expenses include mainly the costs of training and other employee-related insurances.6. DEPRECIATION AND AMORTISATION EXPENSESIN THOUSANDS OF EUR 2022 2021Amortisation of intangible assets (see note 13) 1,033 1,086 Depreciation of property, plant and equipment (see note 14) 19,554 17,772 Depreciation of right-of-use assets (see note 14) 4,658 4,257 TOTAL DEPRECIATION AND AMORTISATION EXPENSES 25,245 23,1157. OTHER OPERATING INCOME AND EXPENSESThe other operating income consists primarily of external sales of raw materials and other non-core items, various costs recovered at the time of sale and indemnification payments.The other operating expenses include local indirect taxes (property taxes, municipal taxes, packaging tax \u2026) and penalties.8. NON-RECURRING INCOME AND EXPENSESNon-recurring income and expenses include operating income and expenses that do not belong to or derive from the recurring operating activities of the Group (normal course of business). This category includes primarily results from the disposal of fixed assets, any goodwill impairment losses, any impairment losses on fixed assets, expenses relating to the acquisition, disposal and start-up of new businesses, restructuring expenses and expenses relating to pandemics.IN THOUSANDS OF EUR 2022 2021Organisation restructuring (1,269) (326)Product range restructuring (1,081) (784)Office relocations (785) (1,323)Start-up costs related to capacity extensions (288) (835)Other (383) (867)TOTAL NON-RECURRING INCOME AND EXPENSES (3,807) (4,135) In 2022, as in 2021, the non-recurring result relates mainly to expenses of organisation restructuring, office relocation, acquisition costs, start-up costs for capacity extensions and product range restructuring.Write-down on inventories of EUR 3,519 thousands (2021: EUR 3,372 thousands) relate mainly to packaging material (2022: EUR 1,411 thousands; 2021: EUR 987 thousands), finished products (2022: EUR 1,297 thousands; 2021: EUR 1,053 thousands) and goods for resale (2022: EUR 542 thousands; 2021: EUR 1,236 thousands).With regard to trade receivables there are no indications that debtors will not meet their payment obligations. Nor are there any customers representing more than 10% of the consolidated revenue. IFRS 9 requires the Company to recognise an allowance for expected losses on the recovery of trade receivables. This has no material impact. More information regarding the credit risk is disclosed in note 26.Movements on valuation for impairment of trade receivables are as follows:IN THOUSANDS OF EUR DECEMBER 31, 2022 DECEMBER 31, 2021Opening balance 526 697 Allowances recognised 472 12 Amounts written off during the year as uncollectible (159) (208) Exchange differences (37) 25 TOTAL ALLOWANCE FOR IMPAIRMENT OF TRADE RECEIVABLES 803 526 ", "dimensions": { "concept": "ifrs-full:DisclosureOfProfitLossFromOperatingActivitiesExplanatory", "language": "en", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "pp-value-88-4": { "value": "5. EMPLOYEE BENEFIT EXPENSES IN THOUSANDS OF EUR 2022 2021Short-term employee benefits 139,481 124,294 Social security contributions 21,789 19,690 Defined contribution costs 4,654 4,077 Defined benefit costs 303 128 Other employee benefit expenses 7,392 4,668 TOTAL EMPLOYEE BENEFIT EXPENSES 173,618 152,857Average number of employees 2,655 2,305 Number of employees as at the end of the year 2,698 2,398 The other employee benefit expenses include mainly the costs of training and other employee-related insurances.Share-based paymentsSince 2012, each financial year the Board of Directors grants stock options to executives and senior management, based on category, results and performance. In accordance with the terms of the plan, as approved by shareholders, employees may be granted options to purchase ordinary shares at an exercise price as mentioned further on. Each option gives the holder the right to purchase one ordinary Lotus Bakeries share at a fixed exercise price. The exercise price is equal to the average closing stock market price of the underlying share during the thirty calendar days prior to the offering date. The granted options have a term of five years. No amounts are paid or payable by the recipient on receipt of the option. The options carry neither rights to dividends nor voting rights. Options may be exercised at any time from the date of vesting to the date of their expiry.The stock options are only subject to services conditions so that it will vest gradually over the vesting period, i.e. three years. The options are exercisable if the option holder remains linked to the Company or a related entity as an employee or executive director. These rights are retained in the event of retirement, early retirement, invalidity or death. The stock option plans are considered equity-settled share-based payments.The fair value of the options is estimated at the grant date, using the binomial valuation model. This valuation model is based on the following market data and assumptions: the share price at the time of allotment, the exercise price, the exercise arrangements, the estimated volatility, the dividend expectations and the risk-free interest rate. The fair value of the share options is recognised linearly over the vesting period.The following table details the different plans granted and the assumptions used for the measurement of the fair value:GRANTED IN 2017 2018 2019 2020 2021 2022Number granted 1,846 1,179 1,199 962 660 792 Number exercised (1,593) (798) (60) (50) (33) -Number expired (253) (40) (50) (40) (26) -Available options - 341 1,089 872 601 792 Key assumptions used for fair value measurement 01/01/2021 - 01/01/2022 - 01/01/2023 - 01/01/2024 - 01/01/2025 - 01/01/2026 - Exercise period11/05/202214/05/202309/05/202407/05/202517/05/202630/06/2027Exercise price (EUR) 2,331.77 2,373.00 2,351.58 2,828.95 4,517.14 5,057.32 Share price (EUR) 2,459.00 2,310.00 2,330.00 2,890.00 4,630.00 4,868.81 Expected volatility 22.02% 22.43% 23.14% 25.07% 23.69% 25.39%Dividend yield 1.07% 0.93% 0.92% 0.95% 0.94% 0.97%Risk-free rate -0.12% 0.11% -0.29% -0.36% -0.34% 0.82%FAIR VALUE PER OPTION (EUR) 378.27 316.29 331.55 471.65 720.51 790.38 The volatility is based on daily share prices of Lotus Bakeries over the last three years.The following reconciles the options outstanding at the beginning and end of the year:WEIGHTED AVERAGE NUMBER EXERCISE PRICE (EUR)OF OPTIONSOutstanding options at January 1, 2021 2,395 5,267 Granted 4,517 660 Exercised 2,179 (1,379)Expired 1,702 (7)Outstanding options at December 31, 2021 2,770 4,541 Granted 5,057 792 Exercised 2,420 (1,492)Expired 2,864 (146)OUTSTANDING OPTIONS AT DECEMBER 31, 2022 3,398 3,695 In 2022, a total expense of EUR 470 thousands was recognised (2021: EUR 419 thousands).22. EMPLOYEE BENEFIT OBLIGATIONS The Group operates defined contribution plans and defined benefit plans. For the defined contribution plans, the Group pays contributions to insurance companies. Management of the pension plan is outsourced to an insurance company. For 2022, the expense amounts to EUR 4,654 thousands compared to EUR 4,077 thousands for 2021 (see also note 5 on employee benefit expenses). The Group has no further obligations next to these contributions.In the consolidated statement of financial position, the employee benefit liabilities consist of the following items:IN THOUSANDS OF EUR DECEMBER 31, 2022 DECEMBER 31, 2021Non-current employee benefit obligations 4,411 4,020 Current employee benefit obligations 232 333 TOTAL EMPLOYEE BENEFIT OBLIGATIONS 4,642 4,353 of which post-employment benefits 4,642 4,353 of which termination benefits - -The post-employment benefits are defined benefit pension plans granted by the Group in the Netherlands, France, Germany and Switzerland.Furthermore, as a result of the Belgian legislation applicable to pension plans (so-called \u2018Law Vandenbroucke\u2019), all Belgian defined contribution plans have to be considered under IFRS as defined benefit plans. This \u2018Law Vandenbroucke\u2019, which came into force in 2004, states that in the context of defined contribution plans, the employer must guarantee a minimum return of 3.75% on employee contributions and 3.25% on employer contributions. As from January 1, 2016, these percentages have been reviewed and adjusted to a single rate which varies with the market rates, subject to a minimum of 1.75% and a maximum of 3.75%, reducing the risk for the employer. Because of this minimum guaranteed return for defined contribution plans in Belgium, the employer is exposed to a financial risk (there is a legal obligation to pay further contributions if the fund does not hold sufficient assets to pay all employee benefits relating to employee service in the current and prior periods). These plans should therefore be classified and accounted for as defined benefit plans under IAS 19.The following tables reconcile the amounts recognised in the statement of financial position, the income statement and the statement of comprehensive income:IN THOUSANDS OF EUR 2022 2021Defined benefit obligation 10,882 10,127 Fair value of plan assets (6,240) (5,774) TOTAL POST-EMPLOYMENT OBLIGATIONS (FUNDED STATUS) 4,642 4,353 Current service cost 303 128 Past service cost - -Service cost recognised as part of employee benefit expenses 303 128 Net interest expenses on post-employment liabilities 55 8 Total defined benefit cost (income statement) 357 136 Remeasurements of defined benefit plans (other comprehensive income) 91 268 The following table reconciles the post-employment obligations:IN THOUSANDS OF EUR 2022 2021Net liability as at January 1 4,353 4,065 Service cost 303 128 Net interest expenses 55 8 Remeasurements of defined benefit plans 91 268 Employer contributions (156) (116) Effect of movements in foreign exchange rates (4) -NET LIABILITY AS AT DECEMBER 31 4,642 4,353 For the defined benefit pension plan, the liabilities are measured on a discounted basis because they are settled many years after the employees render the related service. A qualified actuary has determined the present value of the defined benefit obligations and the fair value of the plan assets. These assets are held by an insurance company. The projected unit credit method was used to estimate the defined benefit obligations, the defined benefit cost and the remeasurements of the net liability. Provisions are determined by computing the actuarial value of future payments to the employees in question.The plan assets consist of insurance contracts.Expected contributions to post-employment benefit plans for the year ending December 31, 2023 are EUR 479 thousands.The principal assumptions used in determining post-employment obligations for the Group\u2019s plans are as follows:DECEMBER 31, 2022THE BELGIUMNETHERLANDS FRANCE GERMANY SWITZERLANDDiscount rate 3.12% 4.00% 3.12% 3.40% 2.24%Inflation rate 2.20% 1.50% 2.20% 2.20% 2.00%DECEMBER 31, 2021THE BELGIUMNETHERLANDS FRANCE GERMANYDiscount rate 0.35% 1.00% 0.00% 0.90%Inflation rate 1.80% 1.00% 1.80% 1.75%Through its defined benefit plans, the Group is exposed to a number of risks, the most relevant are detailed below: \u2022 Changes in bond yields: a decrease in corporate bond yields will increase plan liabilities, although this will be partially offset by an increase in the value of the plan\u2019s bond holdings; \u2022 Salary risk: the majority of the plan\u2019s benefit obligations are calculated by reference to the future salaries of plan members. As such, a higher-than-expected salary increase of plan members will lead to higher liabilities; \u2022 Longevity risk: pension plans provide for benefits for the life of the plan members, so increases in life expectancy will result in an increase in the plan\u2019s liabilities. The actuary has performed a sensitivity analysis on the above actuarial assumptions. As such, both the discount rate and the inflation rate were altered by 50 basis points. A change in the estimates used does not lead to a material impact on the consolidated financial statements.", "dimensions": { "concept": "ifrs-full:DisclosureOfEmployeeBenefitsExplanatory", "language": "en", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "pp-value-88-5": { "value": "5. EMPLOYEE BENEFIT EXPENSES IN THOUSANDS OF EUR 2022 2021Short-term employee benefits 139,481 124,294 Social security contributions 21,789 19,690 Defined contribution costs 4,654 4,077 Defined benefit costs 303 128 Other employee benefit expenses 7,392 4,668 TOTAL EMPLOYEE BENEFIT EXPENSES 173,618 152,857Average number of employees 2,655 2,305 Number of employees as at the end of the year 2,698 2,398 The other employee benefit expenses include mainly the costs of training and other employee-related insurances.", "dimensions": { "concept": "ifrs-full:DisclosureOfInformationAboutEmployeesExplanatory", "language": "en", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "pp-value-90-3": { "value": "7. OTHER OPERATING INCOME AND EXPENSESThe other operating income consists primarily of external sales of raw materials and other non-core items, various costs recovered at the time of sale and indemnification payments.The other operating expenses include local indirect taxes (property taxes, municipal taxes, packaging tax \u2026) and penalties.", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherOperatingIncomeExpenseExplanatory", "language": "en", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "pp-value-90-4": { "value": "7. OTHER OPERATING INCOME AND EXPENSESThe other operating income consists primarily of external sales of raw materials and other non-core items, various costs recovered at the time of sale and indemnification payments.", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherOperatingIncomeExplanatory", "language": "en", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "pp-value-91-5": { "value": "The other operating expenses include local indirect taxes (property taxes, municipal taxes, packaging tax \u2026) and penalties.", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherOperatingExpenseExplanatory", "language": "en", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "pp-value-89-4": { "value": "6. DEPRECIATION AND AMORTISATION EXPENSESIN THOUSANDS OF EUR 2022 2021Amortisation of intangible assets (see note 13) 1,033 1,086 Depreciation of property, plant and equipment (see note 14) 19,554 17,772 Depreciation of right-of-use assets (see note 14) 4,658 4,257 TOTAL DEPRECIATION AND AMORTISATION EXPENSES 25,245 23,115", "dimensions": { "concept": "ifrs-full:DisclosureOfDepreciationAndAmortisationExpenseExplanatory", "language": "en", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "pp-value-93-3": { "value": "9. FINANCIAL RESULTIN THOUSANDS OF EUR 2022 2021Interest expenses (3,115) (2,883)Interest income 551 117 Interest income (expenses) (2,565) (2,766) Foreign exchange gains (losses) 988 886 Other financial income (expenses) (777) (493)TOTAL FINANCIAL RESULT (2,354) (2,373) The foreign exchange gains (losses) are related to the realisation and revaluation of financial positions mainly in GBP (pound sterling) and USD (US dollar).", "dimensions": { "concept": "ifrs-full:DisclosureOfInterestIncomeExpenseExplanatory", "language": "en", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "pp-value-93-4": { "value": "9. FINANCIAL RESULTIN THOUSANDS OF EUR 2022 2021Interest expenses (3,115) (2,883)Interest income 551 117 Interest income (expenses) (2,565) (2,766) Foreign exchange gains (losses) 988 886 Other financial income (expenses) (777) (493)TOTAL FINANCIAL RESULT (2,354) (2,373) The foreign exchange gains (losses) are related to the realisation and revaluation of financial positions mainly in GBP (pound sterling) and USD (US dollar).", "dimensions": { "concept": "ifrs-full:DisclosureOfInterestIncomeExplanatory", "language": "en", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "pp-value-93-5": { "value": "9. FINANCIAL RESULTIN THOUSANDS OF EUR 2022 2021Interest expenses (3,115) (2,883)Interest income 551 117 Interest income (expenses) (2,565) (2,766) Foreign exchange gains (losses) 988 886 Other financial income (expenses) (777) (493)TOTAL FINANCIAL RESULT (2,354) (2,373) The foreign exchange gains (losses) are related to the realisation and revaluation of financial positions mainly in GBP (pound sterling) and USD (US dollar).", "dimensions": { "concept": "ifrs-full:DisclosureOfInterestExpenseExplanatory", "language": "en", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "pp-value-93-6": { "value": "9. FINANCIAL RESULTIN THOUSANDS OF EUR 2022 2021Interest expenses (3,115) (2,883)Interest income 551 117 Interest income (expenses) (2,565) (2,766) Foreign exchange gains (losses) 988 886 Other financial income (expenses) (777) (493)TOTAL FINANCIAL RESULT (2,354) (2,373) The foreign exchange gains (losses) are related to the realisation and revaluation of financial positions mainly in GBP (pound sterling) and USD (US dollar).", "dimensions": { "concept": "ifrs-full:DisclosureOfFinanceIncomeExpenseExplanatory", "language": "en", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "pp-value-93-7": { "value": "9. FINANCIAL RESULTIN THOUSANDS OF EUR 2022 2021Interest expenses (3,115) (2,883)Interest income 551 117 Interest income (expenses) (2,565) (2,766) Foreign exchange gains (losses) 988 886 Other financial income (expenses) (777) (493)TOTAL FINANCIAL RESULT (2,354) (2,373) The foreign exchange gains (losses) are related to the realisation and revaluation of financial positions mainly in GBP (pound sterling) and USD (US dollar).", "dimensions": { "concept": "ifrs-full:DisclosureOfFinanceCostExplanatory", "language": "en", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "pp-value-93-8": { "value": "9. FINANCIAL RESULTIN THOUSANDS OF EUR 2022 2021Interest expenses (3,115) (2,883)Interest income 551 117 Interest income (expenses) (2,565) (2,766) Foreign exchange gains (losses) 988 886 Other financial income (expenses) (777) (493)TOTAL FINANCIAL RESULT (2,354) (2,373) The foreign exchange gains (losses) are related to the realisation and revaluation of financial positions mainly in GBP (pound sterling) and USD (US dollar).", "dimensions": { "concept": "ifrs-full:DisclosureOfFinanceIncomeExplanatory", "language": "en", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "pp-value-94-3": { "value": "10. INCOME TAXESThe income tax recognised in the income statement can be detailed as follows:IN THOUSANDS OF EUR 2022 2021Current taxes in respect of the current year (29,417) (21,411)Current taxes in respect of the prior years (2,213) 1,885 Deferred taxes 885 (7,028)TOTAL INCOME TAX EXPENSE (30,744) (26,554) In 2021, there was a one-off negative impact on deferred taxes as a result of the corporate income tax rate increase to 25% in the UK as from April 2023. This is an accounting and non-cash effect. The average effective tax rate is 22.9%, compared to 22.6% in 2021.The income tax expense can be reconciled as follows:IN THOUSANDS OF EUR 2022 2021Result for the period before taxes 134,027 117,297 Legal tax rate 25.00% 25.00%Income tax expense computed at the legal tax rate (33,507) (29,324) Effect of different tax rates in other countries 2,481 2,020 Deductions of taxable income 1,472 2,646 Tax adjustments for prior years 429 4,193 Disallowed expenses (1,056) (736) Tax exempted income 66 5 Tax losses used for which no deferred tax asset has been recorded (21) 20 Changes in tax rate or new taxes (670) (4,901) Other 61 (477) TOTAL INCOME TAX EXPENSE (30,744) (26,554) Effective tax rate 22.9% 22.6%25. DEFERRED AND CURRENT TAXESDeferred taxesThe deferred tax assets and liabilities can be reconciled as follows:AS AT RECOGNISED THROUGH RECOGNISEDBUSINESSEXCHANGEAS AT IN THOUSANDS OF EURJANUARY 1, 2022THE INCOME STATEMENTTHROUGH EQUITYCOMBINATIONSDIFFERENCESDECEMBER 31, 2022Intangible assets (33,588) 661 - (1,424) 963 (33,389) Property, plant and equipment (32,542) 584 - - (458) (32,416) Inventories 511 (271) - 13 (21) 232 Employee benefit obligations 991 (135) (12) - - 844 Other liabilities (2,225) (144) - 521 - (1,848) Derivative financial instruments 161 - (66) - - 95 Tax losses carried forward 5,023 (1,600) - - 226 3,649 Other (392) 1,790 - - (68) 1,331 TOTAL DEFERRED TAXES (62,061) 885 (78) (890) 642 (61,503) Of which deferred tax assets 2,182 2,212 Of which deferred tax liabilities (64,243) (63,716) AS AT RECOGNISED THROUGH RECOGNISEDBUSINESSEXCHANGEAS ATIN THOUSANDS OF EURJANUARI 1, 2021THE INCOME STATEMENTTHROUGH EQUITYCOMBINATIONSDIFFERENCESDECEMBER 31, 2021Intangible assets (27,136) (5,610) - - (842) (33,588) Property, plant and equipment (30,802) (1,319) - - (421) (32,542) Inventories 350 158 - - 3 511 Employee benefit obligations 800 255 (65) - 1 991 Other liabilities (2,018) (260) - - 53 (2,225) Derivative financial instruments 248 - (87) - - 161 Tax losses carried forward 8,794 (3,988) - - 217 5,023 Other (4,080) 3,736 - - (48) (392) TOTAL DEFERRED TAXES (53,844) (7,028) (152) - (1,037) (62,061) Of which deferred tax assets 3,351 2,182 Of which deferred tax liabilities (57,195) (64,243) The recognition of these deferred tax assets is supported by profit expectations in the foreseeable future.At year-end 2022, there are no unrecognised deferred tax assets.Current taxesThe current tax assets mainly relate to the excess of pre-payments made compared to the actual income tax payable for the year. The current tax liabilities include actual corporate taxes payable.", "dimensions": { "concept": "ifrs-full:DisclosureOfIncomeTaxExplanatory", "language": "en", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "pp-value-94-4": { "value": "10. INCOME TAXESThe income tax recognised in the income statement can be detailed as follows:IN THOUSANDS OF EUR 2022 2021Current taxes in respect of the current year (29,417) (21,411)Current taxes in respect of the prior years (2,213) 1,885 Deferred taxes 885 (7,028)TOTAL INCOME TAX EXPENSE (30,744) (26,554) In 2021, there was a one-off negative impact on deferred taxes as a result of the corporate income tax rate increase to 25% in the UK as from April 2023. This is an accounting and non-cash effect. The average effective tax rate is 22.9%, compared to 22.6% in 2021.The income tax expense can be reconciled as follows:IN THOUSANDS OF EUR 2022 2021Result for the period before taxes 134,027 117,297 Legal tax rate 25.00% 25.00%Income tax expense computed at the legal tax rate (33,507) (29,324) Effect of different tax rates in other countries 2,481 2,020 Deductions of taxable income 1,472 2,646 Tax adjustments for prior years 429 4,193 Disallowed expenses (1,056) (736) Tax exempted income 66 5 Tax losses used for which no deferred tax asset has been recorded (21) 20 Changes in tax rate or new taxes (670) (4,901) Other 61 (477) TOTAL INCOME TAX EXPENSE (30,744) (26,554) Effective tax rate 22.9% 22.6%25. DEFERRED AND CURRENT TAXESDeferred taxesThe deferred tax assets and liabilities can be reconciled as follows:AS AT RECOGNISED THROUGH RECOGNISEDBUSINESSEXCHANGEAS AT IN THOUSANDS OF EURJANUARY 1, 2022THE INCOME STATEMENTTHROUGH EQUITYCOMBINATIONSDIFFERENCESDECEMBER 31, 2022Intangible assets (33,588) 661 - (1,424) 963 (33,389) Property, plant and equipment (32,542) 584 - - (458) (32,416) Inventories 511 (271) - 13 (21) 232 Employee benefit obligations 991 (135) (12) - - 844 Other liabilities (2,225) (144) - 521 - (1,848) Derivative financial instruments 161 - (66) - - 95 Tax losses carried forward 5,023 (1,600) - - 226 3,649 Other (392) 1,790 - - (68) 1,331 TOTAL DEFERRED TAXES (62,061) 885 (78) (890) 642 (61,503) Of which deferred tax assets 2,182 2,212 Of which deferred tax liabilities (64,243) (63,716) AS AT RECOGNISED THROUGH RECOGNISEDBUSINESSEXCHANGEAS ATIN THOUSANDS OF EURJANUARI 1, 2021THE INCOME STATEMENTTHROUGH EQUITYCOMBINATIONSDIFFERENCESDECEMBER 31, 2021Intangible assets (27,136) (5,610) - - (842) (33,588) Property, plant and equipment (30,802) (1,319) - - (421) (32,542) Inventories 350 158 - - 3 511 Employee benefit obligations 800 255 (65) - 1 991 Other liabilities (2,018) (260) - - 53 (2,225) Derivative financial instruments 248 - (87) - - 161 Tax losses carried forward 8,794 (3,988) - - 217 5,023 Other (4,080) 3,736 - - (48) (392) TOTAL DEFERRED TAXES (53,844) (7,028) (152) - (1,037) (62,061) Of which deferred tax assets 3,351 2,182 Of which deferred tax liabilities (57,195) (64,243) The recognition of these deferred tax assets is supported by profit expectations in the foreseeable future.At year-end 2022, there are no unrecognised deferred tax assets.", "dimensions": { "concept": "ifrs-full:DisclosureOfDeferredTaxesExplanatory", "language": "en", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "pp-value-95-2": { "value": "11. EARNINGS PER SHARE Basic earnings per share is calculated by dividing the Group\u2019s share in net profit by the weighted average number of outstanding shares over the year (total number of shares - treasury shares). Diluted earnings per share is calculated by dividing the Group\u2019s share in net profit by the weighted average number of outstanding shares over the year, adjusted for the potential dilution of ordinary shares as a result of options granted under the stock option plan for management (see note 20). IN THOUSANDS OF EUR 2022 2021Net result - Basic and diluted earnings per share 103,283 90,743 Attributable to non-controlling interests 43 (24) Attributable to equity holders of Lotus Bakeries 103,240 90,767 Weighted average number of shares - Basic earnings per share 810,858 811,550 Dilutive effect 1,249 2,127 Weighted average number of shares - Diluted earnings per share 812,106 813,677 BASIC EARNINGS PER SHARE (IN EUR) 127.37 111.81 Attributable to non-controlling interests 0.05 (0.03) Attributable to equity holders of Lotus Bakeries 127.32 111.84 DILUTED EARNINGS PER SHARE (IN EUR) 127.18 111.52 Attributable to non-controlling interests 0.05 (0.03) Attributable to equity holders of Lotus Bakeries 127.13 111.55 ", "dimensions": { "concept": "ifrs-full:DisclosureOfEarningsPerShareExplanatory", "language": "en", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "pp-value-96-3": { "value": "12. GOODWILLIN THOUSANDS OF EUR TOTALCarrying amount as at January 1, 2021 216,485 Effect of movements in foreign exchange rates 8,361 Carrying amount as at December 31, 2021 224,846 Acquisitions through business combinations 7,876 Effect of movements in foreign exchange rates (7,476)CARRYING AMOUNT AS AT DECEMBER 31, 2022 225,246 The addition in 2022 relates to the acquisition of Peter\u2019s Yard (see note 2), which TMwas allocated to the cash-generating unit Lotus Natural Foods.For sales, production and internal reporting, the Group is organised into geographic regions (see also segment reporting). The segments consist of underlying business units. These business units represent the lowest level within the Group at which the goodwill is monitored for internal management purposes. These business units are the cash-generating units to which goodwill is allocated. The carrying amount of goodwill has been allocated to the various independent cash-generating units as follows:IN THOUSANDS OF EUR DECEMBER 31, 2022 DECEMBER 31, 2021TMLotus Natural Foods (Natural Balance Foods, Urban Fresh Foods, Kiddylicious and Peter's Yard) 170,860 170,021 Belgium 20,773 20,773 The Netherlands 17,151 17,151 Asia 9,229 9,214 Nordics 5,528 5,984 Other 1,704 1,703 TOTAL GOODWILL 225,246 224,846Goodwill, representing approximately 21% of the total assets of Lotus Bakeries at December 31, 2022, is tested for impairment every year (or whenever there is a specific reason to do so) by comparing the carrying amount of each cash-generating unit (CGU) with its recoverable amount. The recoverable amount of a cash-generating unit is determined on the basis of the value in use. The value in use is determined as the present value of expected future cash flows based on the current long-term planning of the Group. The discount rate used in determining the present value of expected future cash flows is based on a weighted average cost of capital (WACC). The impairment test for goodwill is based on a number of critical judgements, estimates and assumptions. The assumptions are consistent and reasonable for all cash-generating units, which are mainly located in Europe and the UK: \u2022 Revenue and operating result: revenue and operating result reflects management\u2019s expectations based on past experience and taking into account the risks specific to the reportable business unit; \u2022 The first year of the model is based on the budget for the year, taking into account historical results and is management\u2019s best estimate of the free cash flow outlook for the current year; \u2022 In years two to three of the model, free cash flows are based on Lotus Bakeries\u2019 long-term plan. The long-term plan is prepared country by country, based on reasonable internal plans that take into account the specific market situation and the past; \u2022 Cash flows beyond the first three years are extrapolated by applying a perpetual growth rate, lying between 1.0% and 4.0%; \u2022 Projections are discounted at the pre-tax weighted average cost of capital, which lies between 6.1% and 7.5%.At the end of 2022, Lotus Bakeries has completed its annual impairment test of goodwill and concludes no impairment was present. The Company believes all its assessments to be reasonable: they are consistent with the internal reporting and reflect management\u2019s best estimates. As part of the impairment test, the Company carried out a sensitivity analysis for important assumptions used, including the weighted average cost of capital and long-term growth percentage. Here, a fall in the long-term growth percentage by 100 basis points and an increase in the weighted average cost of capital before tax by 100 basis points were applied. A change in the estimates used, as described above, does not lead to a potential material impairment. Although Lotus Bakeries believes that its assessments, assumptions and estimates are suitable, actual results may differ from these estimates in the event of changed assumptions and conditions.13. INTANGIBLE ASSETS CUSTOMER IN THOUSANDS OF EUR BRANDS SOFTWAREPORTFOLIO TOTALAcquisition cost 141,867 13,457 1,030 156,354 Accumulated amortisation and impairment losses (4,627) (10,817) (944) (16,388) Carrying amount as at January 1, 2021 137,240 2,640 86 139,966 Acquisitions - 1,743 - 1,743 Acquisitions through business combinations - - - -Amortisation expense - (1,000) (86) (1,086) Impairment losses - - - -Effect of movements in foreign exchange rates 4,101 22 - 4,123 Carrying amount as at December 31, 2021 141,341 3,404 - 144,745 Acquisition cost 145,968 15,222 1,030 162,220 Accumulated amortisation and impairment losses (4,627) (11,818) (1,030) (17,475)Acquisitions 522 784 - 1,307 Acquisitions through business combinations 5,697 - - 5,697 Amortisation expense - (1,033) - (1,033) Impairment losses - - - -Effect of movements in foreign exchange rates (3,987) 6 - (3,980) CARRYING AMOUNT AS AT DECEMBER 31, 2022 143,573 3,162 - 146,735 Acquisition cost 148,200 16,013 1,030 165,243Accumulated amortisation and impairment losses (4,627) (12,851) (1,030) (18,508)Intangible assets include brands and software investments. Software relates mainly to the capitalised external and internal costs connectedwith the further roll-out of the ERP information system SAP across the LotusBakeries Group. The portfolio concerns Spanish out-of-home customers acquired in 2011. Thiswas fully amortised at the end of 2021. The brands relate to the brands acquired by the Company over the years:\u2022 Peijnenburg: base brand in the Netherlands;\u2022 Dinosaurus: brand acquired in 2012;\u2022 Annas: base brand for the Nordic region and base brand for the pepparkakorproducts outside the Nordic region;\u2022 N\u0101kd: brand acquired in 2015 as part of the acquisition of Natural Balance Foods\u2022 BEAR: brand acquired in 2015 as part of the acquisition of Urban Fresh Foods\u2022 Kiddylicious: brand acquired in 2018;\u2022 Kung Oscar: brand acquired in 2022;\u2022 Peter\u2019s Yard: brand acquired in 2022.To invigorate its market leadership in the pepparkakor category in Sweden andfurther develop the category, the Company took the opportunity in 2022 toacquire the brand \u2018Kung Oscar\u2019 from the Orkla Group.The value of these brands was established as part of the valuation at fair value of the asset and liability components upon first consolidation. The brands are currently not amortised as the useful life is deemed to be indefinite. Therefore, an annual impairment test is performed to assess the recoverability of the brands.At year-end 2022, the Group tested the value of these brands to assess any recoverability issues. Taking into account the assumptions used, the value in use of the related cash-generating units exceeds its carrying amount and no impairment loss is recognised. A reasonable change of the key assumptions (discount rate, growth rate) would not result in the recognition of any impairment loss.For more details on the impairment test conducted per CGU, we refer to note 12 on goodwill.Although Lotus Bakeries believes that its assessments, assumptions and estimates are reasonable, actual results may differ from these estimates in the event of changed assumptions and conditions. Furthermore, the Group acquired Peter\u2019s Yard in 2022. For more details, we refer to note 2.", "dimensions": { "concept": "ifrs-full:DisclosureOfIntangibleAssetsAndGoodwillExplanatory", "language": "en", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "pp-value-96-4": { "value": "12. GOODWILLIN THOUSANDS OF EUR TOTALCarrying amount as at January 1, 2021 216,485 Effect of movements in foreign exchange rates 8,361 Carrying amount as at December 31, 2021 224,846 Acquisitions through business combinations 7,876 Effect of movements in foreign exchange rates (7,476)CARRYING AMOUNT AS AT DECEMBER 31, 2022 225,246 The addition in 2022 relates to the acquisition of Peter\u2019s Yard (see note 2), which TMwas allocated to the cash-generating unit Lotus Natural Foods.For sales, production and internal reporting, the Group is organised into geographic regions (see also segment reporting). The segments consist of underlying business units. These business units represent the lowest level within the Group at which the goodwill is monitored for internal management purposes. These business units are the cash-generating units to which goodwill is allocated. The carrying amount of goodwill has been allocated to the various independent cash-generating units as follows:IN THOUSANDS OF EUR DECEMBER 31, 2022 DECEMBER 31, 2021TMLotus Natural Foods (Natural Balance Foods, Urban Fresh Foods, Kiddylicious and Peter's Yard) 170,860 170,021 Belgium 20,773 20,773 The Netherlands 17,151 17,151 Asia 9,229 9,214 Nordics 5,528 5,984 Other 1,704 1,703 TOTAL GOODWILL 225,246 224,846Goodwill, representing approximately 21% of the total assets of Lotus Bakeries at December 31, 2022, is tested for impairment every year (or whenever there is a specific reason to do so) by comparing the carrying amount of each cash-generating unit (CGU) with its recoverable amount. The recoverable amount of a cash-generating unit is determined on the basis of the value in use. The value in use is determined as the present value of expected future cash flows based on the current long-term planning of the Group. The discount rate used in determining the present value of expected future cash flows is based on a weighted average cost of capital (WACC). The impairment test for goodwill is based on a number of critical judgements, estimates and assumptions. The assumptions are consistent and reasonable for all cash-generating units, which are mainly located in Europe and the UK: \u2022 Revenue and operating result: revenue and operating result reflects management\u2019s expectations based on past experience and taking into account the risks specific to the reportable business unit; \u2022 The first year of the model is based on the budget for the year, taking into account historical results and is management\u2019s best estimate of the free cash flow outlook for the current year; \u2022 In years two to three of the model, free cash flows are based on Lotus Bakeries\u2019 long-term plan. The long-term plan is prepared country by country, based on reasonable internal plans that take into account the specific market situation and the past; \u2022 Cash flows beyond the first three years are extrapolated by applying a perpetual growth rate, lying between 1.0% and 4.0%; \u2022 Projections are discounted at the pre-tax weighted average cost of capital, which lies between 6.1% and 7.5%.At the end of 2022, Lotus Bakeries has completed its annual impairment test of goodwill and concludes no impairment was present. The Company believes all its assessments to be reasonable: they are consistent with the internal reporting and reflect management\u2019s best estimates. As part of the impairment test, the Company carried out a sensitivity analysis for important assumptions used, including the weighted average cost of capital and long-term growth percentage. Here, a fall in the long-term growth percentage by 100 basis points and an increase in the weighted average cost of capital before tax by 100 basis points were applied. A change in the estimates used, as described above, does not lead to a potential material impairment. Although Lotus Bakeries believes that its assessments, assumptions and estimates are suitable, actual results may differ from these estimates in the event of changed assumptions and conditions.", "dimensions": { "concept": "ifrs-full:DisclosureOfGoodwillExplanatory", "language": "en", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "pp-value-100-3": { "value": "13. INTANGIBLE ASSETS CUSTOMER IN THOUSANDS OF EUR BRANDS SOFTWAREPORTFOLIO TOTALAcquisition cost 141,867 13,457 1,030 156,354 Accumulated amortisation and impairment losses (4,627) (10,817) (944) (16,388) Carrying amount as at January 1, 2021 137,240 2,640 86 139,966 Acquisitions - 1,743 - 1,743 Acquisitions through business combinations - - - -Amortisation expense - (1,000) (86) (1,086) Impairment losses - - - -Effect of movements in foreign exchange rates 4,101 22 - 4,123 Carrying amount as at December 31, 2021 141,341 3,404 - 144,745 Acquisition cost 145,968 15,222 1,030 162,220 Accumulated amortisation and impairment losses (4,627) (11,818) (1,030) (17,475)Acquisitions 522 784 - 1,307 Acquisitions through business combinations 5,697 - - 5,697 Amortisation expense - (1,033) - (1,033) Impairment losses - - - -Effect of movements in foreign exchange rates (3,987) 6 - (3,980) CARRYING AMOUNT AS AT DECEMBER 31, 2022 143,573 3,162 - 146,735 Acquisition cost 148,200 16,013 1,030 165,243Accumulated amortisation and impairment losses (4,627) (12,851) (1,030) (18,508)Intangible assets include brands and software investments. Software relates mainly to the capitalised external and internal costs connectedwith the further roll-out of the ERP information system SAP across the LotusBakeries Group. The portfolio concerns Spanish out-of-home customers acquired in 2011. Thiswas fully amortised at the end of 2021. The brands relate to the brands acquired by the Company over the years:\u2022 Peijnenburg: base brand in the Netherlands;\u2022 Dinosaurus: brand acquired in 2012;\u2022 Annas: base brand for the Nordic region and base brand for the pepparkakorproducts outside the Nordic region;\u2022 N\u0101kd: brand acquired in 2015 as part of the acquisition of Natural Balance Foods\u2022 BEAR: brand acquired in 2015 as part of the acquisition of Urban Fresh Foods\u2022 Kiddylicious: brand acquired in 2018;\u2022 Kung Oscar: brand acquired in 2022;\u2022 Peter\u2019s Yard: brand acquired in 2022.To invigorate its market leadership in the pepparkakor category in Sweden andfurther develop the category, the Company took the opportunity in 2022 toacquire the brand \u2018Kung Oscar\u2019 from the Orkla Group.The value of these brands was established as part of the valuation at fair value of the asset and liability components upon first consolidation. The brands are currently not amortised as the useful life is deemed to be indefinite. Therefore, an annual impairment test is performed to assess the recoverability of the brands.At year-end 2022, the Group tested the value of these brands to assess any recoverability issues. Taking into account the assumptions used, the value in use of the related cash-generating units exceeds its carrying amount and no impairment loss is recognised. A reasonable change of the key assumptions (discount rate, growth rate) would not result in the recognition of any impairment loss.For more details on the impairment test conducted per CGU, we refer to note 12 on goodwill.Although Lotus Bakeries believes that its assessments, assumptions and estimates are reasonable, actual results may differ from these estimates in the event of changed assumptions and conditions. Furthermore, the Group acquired Peter\u2019s Yard in 2022. For more details, we refer to note 2.", "dimensions": { "concept": "ifrs-full:DisclosureOfIntangibleAssetsExplanatory", "language": "en", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "pp-value-104-3": { "value": "During 2022, the Group has incurred research and development expenses of EUR 1,458 thousands (2021: EUR 1,473 thousands), which are mainly composed of employee benefit expenses and consumables.", "dimensions": { "concept": "ifrs-full:DisclosureOfResearchAndDevelopmentExpenseExplanatory", "language": "en", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "pp-value-105-2": { "value": "14. PROPERTY, PLANT AND EQUIPMENTPLANT, MACHINERY FURNITURE, OFFICE ASSETS UNDER IN THOUSANDS OF EUR LAND AND BUILDINGSAND EQUIPMENT EQUIPMENT AND VEHICLESCONSTRUCTION RIGHT-OF-USE ASSETS TOTALAcquisition cost 164,401 334,406 19,929 5,967 12,115 536,818 Accumulated depreciation and impairment losses (52,857) (205,174) (15,795) (149) (4,661) (278,636) Carrying amount as at January 1, 2021 111,544 129,232 4,134 5,818 7,454 258,182 Acquisitions 8,573 11,953 2,352 34,815 11,317 69,010 Disposals (421) (17) (615) - (2,079) (3,132) Depreciation expense (4,433) (12,188) (1,195) - (4,257) (22,073) Transfers from one heading to another 517 1,084 (70) (1,531) - -Effect of movements in foreign exchange rates 2,809 1,893 122 643 271 5,738 Carrying amount as at December 31, 2021 118,589 131,957 4,728 39,745 12,706 307,725 Acquisition cost 175,901 348,985 20,785 39,745 19,135 604,551 Accumulated depreciation and impairment losses (57,312) (217,028) (16,057) - (6,429) (296,826) Acquisitions 29,358 14,544 4,297 84,475 9,278 141,952 Acquisitions through business combinations - 651 - - - 651 Disposals (106) (130) (10) (94) (325) (665) Depreciation expense (4,896) (13,326) (1,332) - (4,658) (24,212) Impairment losses - - - - (519) (519) Transfers from one heading to another 4,587 11,576 (21) (16,142) - -Effect of movements in foreign exchange rates 1,703 1,434 96 419 (341) 3,311 CARRYING AMOUNT AS AT DECEMBER 31, 2022 149,235 146,706 7,758 108,403 16,142 428,243 Acquisition cost 209,647 369,907 25,014 108,403 23,098 736,069 Accumulated depreciation and impairment losses (60,412) (223,201) (17,256) - (6,957) (307,826) In 2022, a record amount of EUR 132,674 thousands has been invested in property, plant and equipment. In the Lotus\u00ae Biscoff\u00ae plant in Belgium, a second dough preparation room became operational. In the US, a second production hall with two new Lotus\u00ae Biscoff\u00ae production lines has been built, but became only operational as of the start of 2023. The US plant now has four operational production lines. In the context of the establishment of a production facility for Lotus\u00ae Biscoff\u00ae in Asia to further support the Group\u2019s growth ambition for Lotus\u00ae Biscoff\u00ae, land was acquired in Thailand.In 2021, EUR 57,693 thousands was invested in property, plant and equipment. In Belgium, investments were made in a new waffle line in Courcelles and in the new Lotus\u00ae Biscoff\u00ae Sandwich Cookie line in Lembeke. Further investments were made in the expansion of capacity at the BEAR factory in South Africa and the factory in the US.The carrying amount of the right-of-use assets arising from IFRS 16 \u2013 Leases is detailed as follows:IN THOUSANDS OF EUR DECEMBER 31, 2022 DECEMBER 31, 2021Land and buildings 11,766 8,131 Plant, machinery and equipment 223 282 Furniture, office equipment and vehicles 4,153 4,293 TOTAL RIGHT-OF-USE ASSETS 16,142 12,706 In 2022, additional right-of use assets relate mainly to the signing of new office leases in the UK and the US.In 2021, additional right-of-use assets consisted mainly of new and extended lease contracts for company cars and office buildings.During 2022 and 2021, no government grants have been granted to the Group.No pledges have been set on the items of property, plant and equipment.", "dimensions": { "concept": "ifrs-full:DisclosureOfPropertyPlantAndEquipmentExplanatory", "language": "en", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "pp-value-107-3": { "value": "The carrying amount of the right-of-use assets arising from IFRS 16 \u2013 Leases is detailed as follows:IN THOUSANDS OF EUR DECEMBER 31, 2022 DECEMBER 31, 2021Land and buildings 11,766 8,131 Plant, machinery and equipment 223 282 Furniture, office equipment and vehicles 4,153 4,293 TOTAL RIGHT-OF-USE ASSETS 16,142 12,706 In 2022, additional right-of use assets relate mainly to the signing of new office leases in the UK and the US.In 2021, additional right-of-use assets consisted mainly of new and extended lease contracts for company cars and office buildings.21. INTEREST-BEARING LIABILITIESIN THOUSANDS OF EUR DECEMBER 31, 2022 DECEMBER 31, 2021Bank loans 182,500 209,500 Lease liabilities 13,566 9,337 Non-current interest-bearing liabilities 196,066 218,837 Bank loans 66,000 14,000 Lease liabilities 4,178 3,439 Current interest-bearing liabilities 70,178 17,439 TOTAL INTEREST-BEARING LIABILITIES 266,244 236,276 of which bank loans 248,500 223,500 of which lease liabilities 17,744 12,776 All bank loans are denominated in EUR. These loans for the vast majority bear a fixed interest rate. The limited part carrying a floating rate (EURIBOR) is hedged using an interest rate swap (see note 26). The weighted average interest rate is 1.00%.The lease liabilities mainly relate to the lease of company cars and office buildings (see also note 14).The following table reconciles the movements of the interest-bearing liabilities to the cash flows arising from financing activities for the year ending December 31, 2022:NON-CASH MOVEMENTSAS AT EXCHANGE AS AT IN THOUSANDS OF EURJANUARY 1, 2022 CASH FLOWS ACQUISITIONDIFFERENCES RECLASSES OTHERDECEMBER 31, 2022Non-current interest-bearing liabilitiesBank loans 209,500 12,000 - - (39,000) - 182,500 Lease liabilities 9,337 - 9,847 (304) (4,990) (324) 13,566 Current interest-bearing liabilitiesBank loans 14,000 13,000 - - 39,000 - 66,000 Lease liabilities 3,439 (4,187) - (64) 4,990 - 4,178 TOTAL LIABILITIES FROM FINANCING ACTIVITIES 236,276 20,813 9,847 (368) - (324) 266,244 ", "dimensions": { "concept": "ifrs-full:DisclosureOfLeasesExplanatory", "language": "en", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "f85486": { "value": "During 2022 and 2021, no government grants have been granted to the Group.", "dimensions": { "concept": "ifrs-full:DisclosureOfGovernmentGrantsExplanatory", "language": "en", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "f85506": { "value": "No pledges have been set on the items of property, plant and equipment.", "dimensions": { "concept": "ifrs-full:DisclosureOfCollateralExplanatory", "language": "en", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "pp-value-111-2": { "value": "15. INVESTMENTS IN OTHER COMPANIESIn 2019, Lotus Bakeries created the corporate venture fund FF2032, establishing a platform for investment in promising brands and growth companies offering innovative products, technologies or market approaches within the food sector.The Group, through its subsidiary FF2032, has minority shares in:\u2022 Love Brands Inc., an American company which markets delicious crunchy corn snacks under the LOVE Corn name;\u2022 Partake Foods, operating in the American market with cookies that do not contain the top eight allergens;\u2022 Oot Granola, a Dutch brand which markets fresh, organic and gluten-free granolas that are low in sugars. Oot Granola has a purely online \u2018direct-to-consumer\u2019 concept;\u2022 The Good Crisp Company, an American company which produces natural, gluten-free chips, completely free of artificial flavourings and colourants;\u2022 IQBAR, an American company manufacturing a set of plant-based nutritional bars that contain six brain nutrients and that tick all the boxes in terms of nutritional profile.In 2021, the Group also had a minority share in Peter\u2019s Yard, a British company that markets sourdough crackers & crispbreads in the UK. The Group acquired in the course of 2022 the remaining shares in Peter\u2019s Yard and obtained as such control over the entity. See also note 2.In 2022, the Group, through its subsidiary FF2032, acquired additional minority stakes in Love Brands Inc. and The Good Crisp Company and a new minority stake in IQBAR, a US company, for a total amount of EUR 9,281 thousands.IQBAR\u2019s primary product line is a set of plant-based nutritional bars that contain six brain nutrients and that tick all the boxes in terms of nutritional profile. IQBAR initially gained traction through its own website sales and large e-commerce platforms. In addition to its strong online presence, IQBAR has consistently expanded its offline footprint and is currently sold in roughly 8,000 stores across the US, including several national chains. ", "dimensions": { "concept": "ifrs-full:DisclosureOfSignificantInvestmentsInAssociatesExplanatory", "language": "en", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "pp-value-111-3": { "value": "15. INVESTMENTS IN OTHER COMPANIESIn 2019, Lotus Bakeries created the corporate venture fund FF2032, establishing a platform for investment in promising brands and growth companies offering innovative products, technologies or market approaches within the food sector.The Group, through its subsidiary FF2032, has minority shares in:\u2022 Love Brands Inc., an American company which markets delicious crunchy corn snacks under the LOVE Corn name;\u2022 Partake Foods, operating in the American market with cookies that do not contain the top eight allergens;\u2022 Oot Granola, a Dutch brand which markets fresh, organic and gluten-free granolas that are low in sugars. Oot Granola has a purely online \u2018direct-to-consumer\u2019 concept;\u2022 The Good Crisp Company, an American company which produces natural, gluten-free chips, completely free of artificial flavourings and colourants;\u2022 IQBAR, an American company manufacturing a set of plant-based nutritional bars that contain six brain nutrients and that tick all the boxes in terms of nutritional profile.In 2021, the Group also had a minority share in Peter\u2019s Yard, a British company that markets sourdough crackers & crispbreads in the UK. The Group acquired in the course of 2022 the remaining shares in Peter\u2019s Yard and obtained as such control over the entity. See also note 2.In 2022, the Group, through its subsidiary FF2032, acquired additional minority stakes in Love Brands Inc. and The Good Crisp Company and a new minority stake in IQBAR, a US company, for a total amount of EUR 9,281 thousands.IQBAR\u2019s primary product line is a set of plant-based nutritional bars that contain six brain nutrients and that tick all the boxes in terms of nutritional profile. IQBAR initially gained traction through its own website sales and large e-commerce platforms. In addition to its strong online presence, IQBAR has consistently expanded its offline footprint and is currently sold in roughly 8,000 stores across the US, including several national chains. 24. OTHER LIABILITIES The other non-current liabilities relate to put options granted to third parties with respect to the remaining non-controlling interests in Natural Balance Foods Ltd., where these put options give holders the right to sell (part of) their investment in this subsidiary. At the end of December 2022, Lotus Bakeries held 97.9% of the shares, with the remaining 2.1% still held by the founders. These put options are unconditional and the exercise price depends on the future financial performance (revenue and operating result) of Natural Balance Foods Ltd. In accordance with IAS 32, where non-controlling interests hold put options giving them the right to sell their investment, a financial liability is recorded for the present value of the exercise price expected to be paid. These put options are classified as level 3 instruments in accordance with the fair value hierarchy of IFRS 7 \u2013 Financial Instruments: Disclosures. The counterpart of this liability is a cancellation of the underlying non-controlling interest. The difference between the value of the non-controlling interest and the fair value of the liability is added to the consolidated reserves, which are included in shareholders\u2019 equity.", "dimensions": { "concept": "ifrs-full:DisclosureOfNoncontrollingInterestsExplanatory", "language": "en", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "pp-value-111-4": { "value": "15. INVESTMENTS IN OTHER COMPANIESIn 2019, Lotus Bakeries created the corporate venture fund FF2032, establishing a platform for investment in promising brands and growth companies offering innovative products, technologies or market approaches within the food sector.The Group, through its subsidiary FF2032, has minority shares in:\u2022 Love Brands Inc., an American company which markets delicious crunchy corn snacks under the LOVE Corn name;\u2022 Partake Foods, operating in the American market with cookies that do not contain the top eight allergens;\u2022 Oot Granola, a Dutch brand which markets fresh, organic and gluten-free granolas that are low in sugars. Oot Granola has a purely online \u2018direct-to-consumer\u2019 concept;\u2022 The Good Crisp Company, an American company which produces natural, gluten-free chips, completely free of artificial flavourings and colourants;\u2022 IQBAR, an American company manufacturing a set of plant-based nutritional bars that contain six brain nutrients and that tick all the boxes in terms of nutritional profile.In 2021, the Group also had a minority share in Peter\u2019s Yard, a British company that markets sourdough crackers & crispbreads in the UK. The Group acquired in the course of 2022 the remaining shares in Peter\u2019s Yard and obtained as such control over the entity. See also note 2.In 2022, the Group, through its subsidiary FF2032, acquired additional minority stakes in Love Brands Inc. and The Good Crisp Company and a new minority stake in IQBAR, a US company, for a total amount of EUR 9,281 thousands.IQBAR\u2019s primary product line is a set of plant-based nutritional bars that contain six brain nutrients and that tick all the boxes in terms of nutritional profile. IQBAR initially gained traction through its own website sales and large e-commerce platforms. In addition to its strong online presence, IQBAR has consistently expanded its offline footprint and is currently sold in roughly 8,000 stores across the US, including several national chains. ", "dimensions": { "concept": "ifrs-full:DisclosureOfInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethodExplanatory", "language": "en", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "pp-value-111-5": { "value": "15. INVESTMENTS IN OTHER COMPANIESIn 2019, Lotus Bakeries created the corporate venture fund FF2032, establishing a platform for investment in promising brands and growth companies offering innovative products, technologies or market approaches within the food sector.The Group, through its subsidiary FF2032, has minority shares in:\u2022 Love Brands Inc., an American company which markets delicious crunchy corn snacks under the LOVE Corn name;\u2022 Partake Foods, operating in the American market with cookies that do not contain the top eight allergens;\u2022 Oot Granola, a Dutch brand which markets fresh, organic and gluten-free granolas that are low in sugars. Oot Granola has a purely online \u2018direct-to-consumer\u2019 concept;\u2022 The Good Crisp Company, an American company which produces natural, gluten-free chips, completely free of artificial flavourings and colourants;\u2022 IQBAR, an American company manufacturing a set of plant-based nutritional bars that contain six brain nutrients and that tick all the boxes in terms of nutritional profile.In 2021, the Group also had a minority share in Peter\u2019s Yard, a British company that markets sourdough crackers & crispbreads in the UK. The Group acquired in the course of 2022 the remaining shares in Peter\u2019s Yard and obtained as such control over the entity. See also note 2.In 2022, the Group, through its subsidiary FF2032, acquired additional minority stakes in Love Brands Inc. and The Good Crisp Company and a new minority stake in IQBAR, a US company, for a total amount of EUR 9,281 thousands.IQBAR\u2019s primary product line is a set of plant-based nutritional bars that contain six brain nutrients and that tick all the boxes in terms of nutritional profile. IQBAR initially gained traction through its own website sales and large e-commerce platforms. In addition to its strong online presence, IQBAR has consistently expanded its offline footprint and is currently sold in roughly 8,000 stores across the US, including several national chains. 32. CONSOLIDATION SCOPENAME ADDRESS VAT OR NATIONAL NUMBER 2022 2021% %Lotus Bakeries Belgi\u00eb NV Gentstraat 52, 9971 Lembeke, BE VAT BE 0421.694.038 100.00 100.00 Interwaffles SA Rue de Li\u00e8ge 39, 6180 Courcelles, BE VAT BE 0439.312.406 100.00 100.00 Lotus Bakeries Corporate NV Gentstraat 1, 9971 Lembeke, BE VAT BE 0881.664.870 100.00 100.00 Lotus Bakeries NV Gentstraat 1, 9971 Lembeke, BE VAT BE 0401.030.860 100.00 100.00 Cremers-Ribert NV Gentstraat 52, 9971 Lembeke, BE VAT BE 0427.808.008 100.00 100.00 B.W.I. BV Ambachtenstraat 5, 9900 Eeklo, BE VAT BE 0898.518.522 100.00 100.00 Biscuiterie Willems BV Nieuwendorpe 33 Bus C, 9900 Eeklo, BE VAT BE 0401.006.413 100.00 100.00 FF2032 NV Gentstraat 1, 9971 Lembeke, BE VAT BE 0730.550.847 - 100.00 Lotus Bakeries France SAS Place du Ch\u00e2teau 9 bis, 59560 Comines, F VAT FR93 320 509 755 100.00 100.00 Biscuiterie Vander SAS Place du Ch\u00e2teau 9 bis, 59560 Comines, F VAT FR28 472 500 941 100.00 100.00 Biscuiterie Le Glazik SAS 815 Avenue du Pays Glazik, 29510 Briec-de-l'Odet, F VAT FR95 377 380 985 100.00 100.00 Enkhuizer Koekfabriek BV Oosterdijk 3e, 1601 DA Enkhuizen, NL VAT NL823011112B01 100.00 100.00 Koninklijke Peijnenburg BV Nieuwendijk 45, 5664 HB Geldrop, NL VAT NL003897187B01 100.00 100.00 Peijnenburg's Koekfabrieken BV Nieuwendijk 45, 5664 HB Geldrop, NL VAT NL001351576B01 100.00 100.00 WK Koek Bakkerij BV Streek 71, 8464 NE Sintjohannesga, NL VAT NL006634151B01 100.00 100.00 WK Koek Beheer BV Streek 71, 8464 NE Sintjohannesga, NL VAT NL006634199B01 100.00 100.00 Lotus Bakeries Nederland BV Nieuwendijk 45, 5664 HB Geldrop, NL VAT NL004458953B01 100.00 100.00 Lotus Bakeries GmbH Ro\u00dfstra\u00dfe 92, 40476 Dusseldorf, DE VAT DE 811 842 770 100.00 100.00 Lotus Bakeries R\u00e9assurances SA 74, Rue de Merl, 2146 Luxembourg, L R.C.S. Luxembourg B53262 100.00 100.00 Lotus Bakeries International und Schweiz AG Neuhofstrasse 24, 6340 Baar, CH VAT CHE-105.424.218 100.00 100.00 FF2032 AG Neuhofstrasse 24, 6340 Baar, CH VAT CHE-241.819.783 100.00 100.00 NAME ADDRESS VAT OR NATIONAL NUMBER 2022 2021% %Lotus Bakeries CZ s.r.o. Americk\u00e1 415/36, 120 00 Praha 2, CZ VAT CZ 271 447 55 100.00 100.00Lotus Bakeries North America Inc. 1000 Sansome Street Suite 350, San Francisco, CA 94111-1323, USA IRS 94-3124525 100.00 100.00 NBF USA Inc. 1000 Sansome Street Suite 350, San Francisco, CA 94111-1323, USA C3598146 - 100.00Lotus Bakeries US, LLC 2010 Park Center Drive, Mebane, NC 27302, USA IRS 82-1300286 100.00 100.00 Lotus Bakeries US Manufacturing, LLC 2010 Park Center Drive, Mebane, NC 27302, USA IRS 82-2542596 100.00 100.00 Lotus Bakeries Austria GmbH Fleischmarkt 1/6/12, 1010 Wien, AT VAT ATU72710827 100.00 100.00Lotus Bakeries UK Ltd. First Floor Premises, Whitecroft House, 51 Water Lane, Wilmslow, Cheshire SK9 5BQ, UK VAT GB 896 168 761 100.00 100.00Natural Balance Foods Ltd. Second floor, 45 Grosvenor Road, St. Albans, AL1 3AW, UK VAT GB 841 254 348 97.90 97.90 Urban Fresh Foods Ltd. Second floor, 45 Grosvenor Road, St. Albans, AL1 3AW, UK VAT GB 883 060 032 100.00 100.00 The Kids Food Company Ltd. Second floor, 45 Grosvenor Road, St. Albans, AL1 3AW, UK VAT GB 977 396 157 100.00 100.00 Peter's Yard Wholesale Ltd. Brassey Road, Old Potss Way 1 GB-SY3 7FA Shrewsbury UK VAT GB 938 740 100 100.00 -Lotus Bakeries Espana S.L. C/ Severo Ochoa, 3, 2a Planta Oficina 8A, 28232 Las Rozas (Madrid), ES VAT ESB80405137 100.00 100.00 AB Annas Pepparkakor Radiov\u00e4gen 23, SE 135 48 Tyres\u00f6, SE VAT SE556149914501 100.00 100.00 Annas - Lotus Bakeries Holding AB Radiov\u00e4gen 23, SE 135 48 Tyres\u00f6, SE Registration no. 556757-7241 100.00 100.00Inland Revenue Department file no. Lotus Bakeries Asia Pacific Limited 5/F, Manulife, 348 Kwun Tong Road, Kowloon, HK100.00 100.00 22/51477387Lotus Bakeries Biscuits Trading (Shanghai) Company Ltd. Room 01.02.06, Floor 15, No. 511 Weihai Road, Jing'an Disctrict, Shanghai 200041, P.R. CN Registration no. 913100000781169357 100.00 100.00 Lotus Bakeries Chile SpA Nueva Tajamar #555 OF401, Las Condes, Santiago, 7550099 CL VAT (RUT) 76.215.081-6 - 100.00 Lotus Bakeries Italia S.r.l. Regus Dante Cairoli, Via Dante 16, Quartiere Castello, 20121 Milan, IT VAT IT03029890211 100.00 100.00 Lotus Bakeries Korea Co. Ltd. 4/F, AIA Tower, 16 Tongil-ro-2-gil, Jung-gu, Seoul 04511, KR Registration no. 128-81-19621 100.00 100.00 Lotus South Africa Manufacturing Ltd. Erf 4109 Voortrekker Road, Wolseley, Western Cape 6830, ZA VAT 4190279762 100.00 100.00 Summer Hill, Unit TT11, 3rd Floor, No. 1106 Sukhumvit Road, Phrakhanong Sub-district, Lotus Asia PacificVAT 0105565109964 100.00 -Klongtoey District, Bangkok 10110, Thailand", "dimensions": { "concept": "ifrs-full:DisclosureOfInterestsInOtherEntitiesExplanatory", "language": "en", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "pp-value-112-2": { "value": "16. INVENTORIES IN THOUSANDS OF EUR DECEMBER 31, 2022 DECEMBER 31, 2021Raw materials and consumables 20,261 16,061 Work in progress 5,288 2,978 Goods for resale and finished goods 44,812 38,862 TOTAL INVENTORIES 70,361 57,901 Write-down on inventories of EUR 3,519 thousands (2021: EUR 3,372 thousands) relate mainly to packaging material (2022: EUR 1,411 thousands; 2021: EUR 987 thousands), finished products (2022: EUR 1,297 thousands; 2021: EUR 1,053 thousands) and goods for resale (2022: EUR 542 thousands; 2021: EUR 1,236 thousands).", "dimensions": { "concept": "ifrs-full:DisclosureOfInventoriesExplanatory", "language": "en", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "pp-value-114-2": { "value": "17. TRADE AND OTHER RECEIVABLESIN THOUSANDS OF EUR DECEMBER 31, 2022 DECEMBER 31, 2021Trade receivables 111,558 95,075 Less allowance for impairment of trade receivables (803) (526)Trade receivables - net 110,755 94,549 VAT receivables 8,979 10,079 Other amounts receivable 339 536 Other receivables 9,318 10,615 TOTAL TRADE AND OTHER RECEIVABLES 120,074 105,164 The trade receivables represent an average of 46 days of customer credit (2021: 49 days). With regard to trade receivables there are no indications that debtors will not meet their payment obligations. Nor are there any customers representing more than 10% of the consolidated revenue. IFRS 9 requires the Company to recognise an allowance for expected losses on the recovery of trade receivables. This has no material impact. More information regarding the credit risk is disclosed in note 26.Movements on valuation for impairment of trade receivables are as follows:IN THOUSANDS OF EUR DECEMBER 31, 2022 DECEMBER 31, 2021Opening balance 526 697 Allowances recognised 472 12 Amounts written off during the year as uncollectible (159) (208) Exchange differences (37) 25 TOTAL ALLOWANCE FOR IMPAIRMENT OF TRADE RECEIVABLES 803 526 ", "dimensions": { "concept": "ifrs-full:DisclosureOfTradeAndOtherReceivablesExplanatory", "language": "en", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "pp-value-113-5": { "value": "Write-down on inventories of EUR 3,519 thousands (2021: EUR 3,372 thousands) relate mainly to packaging material (2022: EUR 1,411 thousands; 2021: EUR 987 thousands), finished products (2022: EUR 1,297 thousands; 2021: EUR 1,053 thousands) and goods for resale (2022: EUR 542 thousands; 2021: EUR 1,236 thousands).", "dimensions": { "concept": "ifrs-full:DisclosureOfImpairmentOfAssetsExplanatory", "language": "en", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "pp-value-116-5": { "value": "With regard to trade receivables there are no indications that debtors will not meet their payment obligations. Nor are there any customers representing more than 10% of the consolidated revenue. IFRS 9 requires the Company to recognise an allowance for expected losses on the recovery of trade receivables. This has no material impact. More information regarding the credit risk is disclosed in note 26.Movements on valuation for impairment of trade receivables are as follows:IN THOUSANDS OF EUR DECEMBER 31, 2022 DECEMBER 31, 2021Opening balance 526 697 Allowances recognised 472 12 Amounts written off during the year as uncollectible (159) (208) Exchange differences (37) 25 TOTAL ALLOWANCE FOR IMPAIRMENT OF TRADE RECEIVABLES 803 526 ", "dimensions": { "concept": "ifrs-full:DisclosureOfAllowanceForCreditLossesExplanatory", "language": "en", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "pp-value-117-3": { "value": "18. CASH AND CASH EQUIVALENTSCash and cash equivalents consist of balances on bank accounts at market conditions. The fair value of these cash and cash equivalents is therefore equal to the carrying amount.", "dimensions": { "concept": "ifrs-full:DisclosureOfCashAndCashEquivalentsExplanatory", "language": "en", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "pp-value-118-2": { "value": "19. OTHER ASSETSThe other non-current and current assets include mainly cash guarantees and deferred charges relating to the operational activities of the Group.", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherAssetsExplanatory", "language": "en", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "pp-value-118-3": { "value": "19. OTHER ASSETSThe other non-current and current assets include mainly cash guarantees and deferred charges relating to the operational activities of the Group.", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherNoncurrentAssetsExplanatory", "language": "en", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "pp-value-118-4": { "value": "19. OTHER ASSETSThe other non-current and current assets include mainly cash guarantees and deferred charges relating to the operational activities of the Group.", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherCurrentAssetsExplanatory", "language": "en", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "pp-value-118-5": { "value": "19. OTHER ASSETSThe other non-current and current assets include mainly cash guarantees and deferred charges relating to the operational activities of the Group.", "dimensions": { "concept": "ifrs-full:DisclosureOfPrepaymentsAndOtherAssetsExplanatory", "language": "en", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "pp-value-119-2": { "value": "20. EQUITYShare capitalAll shares are ordinary shares, registered or dematerialised. The ordinary share capital of the Company issued and fully paid consists of 816,013 shares (2021: 816,013 shares), of which 5,072 treasury shares (2021: 4,110 treasury shares).The treasury shares have been purchased as part of the share option plans mentioned below.The following table presents the number of shares outstanding:SHARES TREASURY OUTSTANDING NUMBER OF SHARESISSUEDSHARESSHARESAs at January 1, 2021 816,013 (5,542) 810,471 Treasury shares delivered for share option plans - 1,432 1,432 Purchase/sale of treasury shares - - -As at December 31, 2021 816,013 (4,110) 811,903 Treasury shares delivered for share option plans - 1,381 1,381 Purchase/sale of treasury shares - (2,343) (2,343) AS AT DECEMBER 31, 2022 816,013 (5,072) 810,941 Further details of the shareholding structure of Lotus Bakeries NV as of December 31, 2022 are disclosed in the Corporate Governance Statement in Part 1 of the 2022 annual report of Lotus Bakeries.", "dimensions": { "concept": "ifrs-full:DisclosureOfIssuedCapitalExplanatory", "language": "en", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "pp-value-119-3": { "value": "20. EQUITYShare capitalAll shares are ordinary shares, registered or dematerialised. The ordinary share capital of the Company issued and fully paid consists of 816,013 shares (2021: 816,013 shares), of which 5,072 treasury shares (2021: 4,110 treasury shares).The treasury shares have been purchased as part of the share option plans mentioned below.The following table presents the number of shares outstanding:SHARES TREASURY OUTSTANDING NUMBER OF SHARESISSUEDSHARESSHARESAs at January 1, 2021 816,013 (5,542) 810,471 Treasury shares delivered for share option plans - 1,432 1,432 Purchase/sale of treasury shares - - -As at December 31, 2021 816,013 (4,110) 811,903 Treasury shares delivered for share option plans - 1,381 1,381 Purchase/sale of treasury shares - (2,343) (2,343) AS AT DECEMBER 31, 2022 816,013 (5,072) 810,941 Further details of the shareholding structure of Lotus Bakeries NV as of December 31, 2022 are disclosed in the Corporate Governance Statement in Part 1 of the 2022 annual report of Lotus Bakeries.Capital risk management The objective of Lotus Bakeries is to ensure that the Group can continue to operate as a going concern in order to generate a return for shareholders and provide benefits for other stakeholders. Furthermore, the Group aims for a capital structure (balance between debt and equity) that gives it the required financial flexibility to implement its growth strategy. The aim is to maintain the ratio of net financial debt (defined as interest-bearing financial liabilities minus investments minus cash and cash equivalents minus treasury shares, and are reported excluding the \u2018lease liability\u2019 that results from the implementation of IFRS 16 Leases) to recurring operating cash flow (REBITDA) at what is considered as a reasonable level in the financial market.Share-based paymentsSince 2012, each financial year the Board of Directors grants stock options to executives and senior management, based on category, results and performance. In accordance with the terms of the plan, as approved by shareholders, employees may be granted options to purchase ordinary shares at an exercise price as mentioned further on. Each option gives the holder the right to purchase one ordinary Lotus Bakeries share at a fixed exercise price. The exercise price is equal to the average closing stock market price of the underlying share during the thirty calendar days prior to the offering date. The granted options have a term of five years. No amounts are paid or payable by the recipient on receipt of the option. The options carry neither rights to dividends nor voting rights. Options may be exercised at any time from the date of vesting to the date of their expiry.The stock options are only subject to services conditions so that it will vest gradually over the vesting period, i.e. three years. The options are exercisable if the option holder remains linked to the Company or a related entity as an employee or executive director. These rights are retained in the event of retirement, early retirement, invalidity or death. The stock option plans are considered equity-settled share-based payments.The fair value of the options is estimated at the grant date, using the binomial valuation model. This valuation model is based on the following market data and assumptions: the share price at the time of allotment, the exercise price, the exercise arrangements, the estimated volatility, the dividend expectations and the risk-free interest rate. The fair value of the share options is recognised linearly over the vesting period.The following table details the different plans granted and the assumptions used for the measurement of the fair value:GRANTED IN 2017 2018 2019 2020 2021 2022Number granted 1,846 1,179 1,199 962 660 792 Number exercised (1,593) (798) (60) (50) (33) -Number expired (253) (40) (50) (40) (26) -Available options - 341 1,089 872 601 792 Key assumptions used for fair value measurement 01/01/2021 - 01/01/2022 - 01/01/2023 - 01/01/2024 - 01/01/2025 - 01/01/2026 - Exercise period11/05/202214/05/202309/05/202407/05/202517/05/202630/06/2027Exercise price (EUR) 2,331.77 2,373.00 2,351.58 2,828.95 4,517.14 5,057.32 Share price (EUR) 2,459.00 2,310.00 2,330.00 2,890.00 4,630.00 4,868.81 Expected volatility 22.02% 22.43% 23.14% 25.07% 23.69% 25.39%Dividend yield 1.07% 0.93% 0.92% 0.95% 0.94% 0.97%Risk-free rate -0.12% 0.11% -0.29% -0.36% -0.34% 0.82%FAIR VALUE PER OPTION (EUR) 378.27 316.29 331.55 471.65 720.51 790.38 The volatility is based on daily share prices of Lotus Bakeries over the last three years.The following reconciles the options outstanding at the beginning and end of the year:WEIGHTED AVERAGE NUMBER EXERCISE PRICE (EUR)OF OPTIONSOutstanding options at January 1, 2021 2,395 5,267 Granted 4,517 660 Exercised 2,179 (1,379)Expired 1,702 (7)Outstanding options at December 31, 2021 2,770 4,541 Granted 5,057 792 Exercised 2,420 (1,492)Expired 2,864 (146)OUTSTANDING OPTIONS AT DECEMBER 31, 2022 3,398 3,695 In 2022, a total expense of EUR 470 thousands was recognised (2021: EUR 419 thousands).", "dimensions": { "concept": "ifrs-full:DisclosureOfShareCapitalReservesAndOtherEquityInterestExplanatory", "language": "en", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "pp-value-120-4": { "value": "The treasury shares have been purchased as part of the share option plans mentioned below.The following table presents the number of shares outstanding:SHARES TREASURY OUTSTANDING NUMBER OF SHARESISSUEDSHARESSHARESAs at January 1, 2021 816,013 (5,542) 810,471 Treasury shares delivered for share option plans - 1,432 1,432 Purchase/sale of treasury shares - - -As at December 31, 2021 816,013 (4,110) 811,903 Treasury shares delivered for share option plans - 1,381 1,381 Purchase/sale of treasury shares - (2,343) (2,343) AS AT DECEMBER 31, 2022 816,013 (5,072) 810,941 Further details of the shareholding structure of Lotus Bakeries NV as of December 31, 2022 are disclosed in the Corporate Governance Statement in Part 1 of the 2022 annual report of Lotus Bakeries.", "dimensions": { "concept": "ifrs-full:DisclosureOfTreasurySharesExplanatory", "language": "en", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "pp-value-121-3": { "value": "Capital risk management The objective of Lotus Bakeries is to ensure that the Group can continue to operate as a going concern in order to generate a return for shareholders and provide benefits for other stakeholders. Furthermore, the Group aims for a capital structure (balance between debt and equity) that gives it the required financial flexibility to implement its growth strategy. The aim is to maintain the ratio of net financial debt (defined as interest-bearing financial liabilities minus investments minus cash and cash equivalents minus treasury shares, and are reported excluding the \u2018lease liability\u2019 that results from the implementation of IFRS 16 Leases) to recurring operating cash flow (REBITDA) at what is considered as a reasonable level in the financial market.", "dimensions": { "concept": "ifrs-full:DisclosureOfObjectivesPoliciesAndProcessesForManagingCapitalExplanatory", "language": "en", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "pp-value-122-4": { "value": "Share-based paymentsSince 2012, each financial year the Board of Directors grants stock options to executives and senior management, based on category, results and performance. In accordance with the terms of the plan, as approved by shareholders, employees may be granted options to purchase ordinary shares at an exercise price as mentioned further on. Each option gives the holder the right to purchase one ordinary Lotus Bakeries share at a fixed exercise price. The exercise price is equal to the average closing stock market price of the underlying share during the thirty calendar days prior to the offering date. The granted options have a term of five years. No amounts are paid or payable by the recipient on receipt of the option. The options carry neither rights to dividends nor voting rights. Options may be exercised at any time from the date of vesting to the date of their expiry.The stock options are only subject to services conditions so that it will vest gradually over the vesting period, i.e. three years. The options are exercisable if the option holder remains linked to the Company or a related entity as an employee or executive director. These rights are retained in the event of retirement, early retirement, invalidity or death. The stock option plans are considered equity-settled share-based payments.The fair value of the options is estimated at the grant date, using the binomial valuation model. This valuation model is based on the following market data and assumptions: the share price at the time of allotment, the exercise price, the exercise arrangements, the estimated volatility, the dividend expectations and the risk-free interest rate. The fair value of the share options is recognised linearly over the vesting period.The following table details the different plans granted and the assumptions used for the measurement of the fair value:GRANTED IN 2017 2018 2019 2020 2021 2022Number granted 1,846 1,179 1,199 962 660 792 Number exercised (1,593) (798) (60) (50) (33) -Number expired (253) (40) (50) (40) (26) -Available options - 341 1,089 872 601 792 Key assumptions used for fair value measurement 01/01/2021 - 01/01/2022 - 01/01/2023 - 01/01/2024 - 01/01/2025 - 01/01/2026 - Exercise period11/05/202214/05/202309/05/202407/05/202517/05/202630/06/2027Exercise price (EUR) 2,331.77 2,373.00 2,351.58 2,828.95 4,517.14 5,057.32 Share price (EUR) 2,459.00 2,310.00 2,330.00 2,890.00 4,630.00 4,868.81 Expected volatility 22.02% 22.43% 23.14% 25.07% 23.69% 25.39%Dividend yield 1.07% 0.93% 0.92% 0.95% 0.94% 0.97%Risk-free rate -0.12% 0.11% -0.29% -0.36% -0.34% 0.82%FAIR VALUE PER OPTION (EUR) 378.27 316.29 331.55 471.65 720.51 790.38 The volatility is based on daily share prices of Lotus Bakeries over the last three years.The following reconciles the options outstanding at the beginning and end of the year:WEIGHTED AVERAGE NUMBER EXERCISE PRICE (EUR)OF OPTIONSOutstanding options at January 1, 2021 2,395 5,267 Granted 4,517 660 Exercised 2,179 (1,379)Expired 1,702 (7)Outstanding options at December 31, 2021 2,770 4,541 Granted 5,057 792 Exercised 2,420 (1,492)Expired 2,864 (146)OUTSTANDING OPTIONS AT DECEMBER 31, 2022 3,398 3,695 In 2022, a total expense of EUR 470 thousands was recognised (2021: EUR 419 thousands).", "dimensions": { "concept": "ifrs-full:DisclosureOfSharebasedPaymentArrangementsExplanatory", "language": "en", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "s7_notes__6__5": { "value": "DividendsThe dividend related to 2021 was paid in 2022, in accordance with the decision taken at the Ordinary General Meeting of Shareholders of May 13, 2022. The shareholders approved a gross dividend of EUR 40 per share, resulting in a total dividend of EUR 32,805 thousands.The Board of Directors will propose to the Ordinary General Meeting of Shareholders of May 12, 2023 to pay a gross dividend of EUR 45 per share for 2022. This amount is not recognised as a debt on December 31.", "dimensions": { "concept": "ifrs-full:DisclosureOfDividendsExplanatory", "language": "en", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "s7_notes__6__6": { "value": "40", "decimals": 0, "dimensions": { "concept": "ifrs-full:DividendsRecognisedAsDistributionsToOwnersPerShare", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00", "unit": "iso4217:EUR/xbrli:shares" } }, "s7_notes__6__7": { "value": "45", "decimals": 0, "dimensions": { "concept": "ifrs-full:DividendsProposedOrDeclaredBeforeFinancialStatementsAuthorisedForIssueButNotRecognisedAsDistributionToOwnersPerShare", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00", "unit": "iso4217:EUR/xbrli:shares" } }, "pp-value-129-3": { "value": "21. INTEREST-BEARING LIABILITIESIN THOUSANDS OF EUR DECEMBER 31, 2022 DECEMBER 31, 2021Bank loans 182,500 209,500 Lease liabilities 13,566 9,337 Non-current interest-bearing liabilities 196,066 218,837 Bank loans 66,000 14,000 Lease liabilities 4,178 3,439 Current interest-bearing liabilities 70,178 17,439 TOTAL INTEREST-BEARING LIABILITIES 266,244 236,276 of which bank loans 248,500 223,500 of which lease liabilities 17,744 12,776 All bank loans are denominated in EUR. These loans for the vast majority bear a fixed interest rate. The limited part carrying a floating rate (EURIBOR) is hedged using an interest rate swap (see note 26). The weighted average interest rate is 1.00%.The lease liabilities mainly relate to the lease of company cars and office buildings (see also note 14).The following table reconciles the movements of the interest-bearing liabilities to the cash flows arising from financing activities for the year ending December 31, 2022:NON-CASH MOVEMENTSAS AT EXCHANGE AS AT IN THOUSANDS OF EURJANUARY 1, 2022 CASH FLOWS ACQUISITIONDIFFERENCES RECLASSES OTHERDECEMBER 31, 2022Non-current interest-bearing liabilitiesBank loans 209,500 12,000 - - (39,000) - 182,500 Lease liabilities 9,337 - 9,847 (304) (4,990) (324) 13,566 Current interest-bearing liabilitiesBank loans 14,000 13,000 - - 39,000 - 66,000 Lease liabilities 3,439 (4,187) - (64) 4,990 - 4,178 TOTAL LIABILITIES FROM FINANCING ACTIVITIES 236,276 20,813 9,847 (368) - (324) 266,244 The unused committed credit lines amounted to EUR 193,100 thousands at year-end 2022 (2021: EUR 130,536 thousands).", "dimensions": { "concept": "ifrs-full:DisclosureOfBorrowingsExplanatory", "language": "en", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "pp-value-129-4": { "value": "21. INTEREST-BEARING LIABILITIESIN THOUSANDS OF EUR DECEMBER 31, 2022 DECEMBER 31, 2021Bank loans 182,500 209,500 Lease liabilities 13,566 9,337 Non-current interest-bearing liabilities 196,066 218,837 Bank loans 66,000 14,000 Lease liabilities 4,178 3,439 Current interest-bearing liabilities 70,178 17,439 TOTAL INTEREST-BEARING LIABILITIES 266,244 236,276 of which bank loans 248,500 223,500 of which lease liabilities 17,744 12,776 All bank loans are denominated in EUR. These loans for the vast majority bear a fixed interest rate. The limited part carrying a floating rate (EURIBOR) is hedged using an interest rate swap (see note 26). The weighted average interest rate is 1.00%.The lease liabilities mainly relate to the lease of company cars and office buildings (see also note 14).The following table reconciles the movements of the interest-bearing liabilities to the cash flows arising from financing activities for the year ending December 31, 2022:NON-CASH MOVEMENTSAS AT EXCHANGE AS AT IN THOUSANDS OF EURJANUARY 1, 2022 CASH FLOWS ACQUISITIONDIFFERENCES RECLASSES OTHERDECEMBER 31, 2022Non-current interest-bearing liabilitiesBank loans 209,500 12,000 - - (39,000) - 182,500 Lease liabilities 9,337 - 9,847 (304) (4,990) (324) 13,566 Current interest-bearing liabilitiesBank loans 14,000 13,000 - - 39,000 - 66,000 Lease liabilities 3,439 (4,187) - (64) 4,990 - 4,178 TOTAL LIABILITIES FROM FINANCING ACTIVITIES 236,276 20,813 9,847 (368) - (324) 266,244 The unused committed credit lines amounted to EUR 193,100 thousands at year-end 2022 (2021: EUR 130,536 thousands).", "dimensions": { "concept": "ifrs-full:DisclosureOfDebtSecuritiesExplanatory", "language": "en", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "pp-value-138-2": { "value": "23. TRADE AND OTHER PAYABLESIN THOUSANDS OF EUR DECEMBER 31, 2022 DECEMBER 31, 2021Trade payables 140,003 125,315 Employee benefit liabilities 29,725 26,515 VAT payables 1,186 402 Other payables 2,080 2,144 Other payables 32,992 29,061 TOTAL TRADE AND OTHER PAYABLES 172,995 154,377 Increase in trade and other payables relates mainly to higher outstanding payables at year-end as a result of the significant investment projects launched during 2022.", "dimensions": { "concept": "ifrs-full:DisclosureOfTradeAndOtherPayablesExplanatory", "language": "en", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "pp-value-139-4": { "value": "24. OTHER LIABILITIES The other non-current liabilities relate to put options granted to third parties with respect to the remaining non-controlling interests in Natural Balance Foods Ltd., where these put options give holders the right to sell (part of) their investment in this subsidiary. At the end of December 2022, Lotus Bakeries held 97.9% of the shares, with the remaining 2.1% still held by the founders. These put options are unconditional and the exercise price depends on the future financial performance (revenue and operating result) of Natural Balance Foods Ltd. In accordance with IAS 32, where non-controlling interests hold put options giving them the right to sell their investment, a financial liability is recorded for the present value of the exercise price expected to be paid. These put options are classified as level 3 instruments in accordance with the fair value hierarchy of IFRS 7 \u2013 Financial Instruments: Disclosures. The counterpart of this liability is a cancellation of the underlying non-controlling interest. The difference between the value of the non-controlling interest and the fair value of the liability is added to the consolidated reserves, which are included in shareholders\u2019 equity.The other current liabilities include mainly accrued expenses and deferred income.", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherLiabilitiesExplanatory", "language": "en", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "pp-value-139-5": { "value": "24. OTHER LIABILITIES The other non-current liabilities relate to put options granted to third parties with respect to the remaining non-controlling interests in Natural Balance Foods Ltd., where these put options give holders the right to sell (part of) their investment in this subsidiary. At the end of December 2022, Lotus Bakeries held 97.9% of the shares, with the remaining 2.1% still held by the founders. These put options are unconditional and the exercise price depends on the future financial performance (revenue and operating result) of Natural Balance Foods Ltd. In accordance with IAS 32, where non-controlling interests hold put options giving them the right to sell their investment, a financial liability is recorded for the present value of the exercise price expected to be paid. These put options are classified as level 3 instruments in accordance with the fair value hierarchy of IFRS 7 \u2013 Financial Instruments: Disclosures. The counterpart of this liability is a cancellation of the underlying non-controlling interest. The difference between the value of the non-controlling interest and the fair value of the liability is added to the consolidated reserves, which are included in shareholders\u2019 equity.", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherNoncurrentLiabilitiesExplanatory", "language": "en", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "pp-value-139-6": { "value": "24. OTHER LIABILITIES The other non-current liabilities relate to put options granted to third parties with respect to the remaining non-controlling interests in Natural Balance Foods Ltd., where these put options give holders the right to sell (part of) their investment in this subsidiary. At the end of December 2022, Lotus Bakeries held 97.9% of the shares, with the remaining 2.1% still held by the founders. These put options are unconditional and the exercise price depends on the future financial performance (revenue and operating result) of Natural Balance Foods Ltd. In accordance with IAS 32, where non-controlling interests hold put options giving them the right to sell their investment, a financial liability is recorded for the present value of the exercise price expected to be paid. These put options are classified as level 3 instruments in accordance with the fair value hierarchy of IFRS 7 \u2013 Financial Instruments: Disclosures. The counterpart of this liability is a cancellation of the underlying non-controlling interest. The difference between the value of the non-controlling interest and the fair value of the liability is added to the consolidated reserves, which are included in shareholders\u2019 equity.", "dimensions": { "concept": "ifrs-full:DisclosureOfInvestmentContractsLiabilitiesExplanatory", "language": "en", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "pp-value-139-7": { "value": "24. OTHER LIABILITIES The other non-current liabilities relate to put options granted to third parties with respect to the remaining non-controlling interests in Natural Balance Foods Ltd., where these put options give holders the right to sell (part of) their investment in this subsidiary. At the end of December 2022, Lotus Bakeries held 97.9% of the shares, with the remaining 2.1% still held by the founders. These put options are unconditional and the exercise price depends on the future financial performance (revenue and operating result) of Natural Balance Foods Ltd. In accordance with IAS 32, where non-controlling interests hold put options giving them the right to sell their investment, a financial liability is recorded for the present value of the exercise price expected to be paid. These put options are classified as level 3 instruments in accordance with the fair value hierarchy of IFRS 7 \u2013 Financial Instruments: Disclosures. The counterpart of this liability is a cancellation of the underlying non-controlling interest. The difference between the value of the non-controlling interest and the fair value of the liability is added to the consolidated reserves, which are included in shareholders\u2019 equity.26. FINANCIAL INSTRUMENTS AND FINANCIAL RISK MANAGEMENT26.1 Overview of financial instruments The table below summarises all financial instruments by category in accordance with IFRS 9:IN THOUSANDS OF EUR IFRS 9 CATEGORY DECEMBER 31, 2022 DECEMBER 31, 2021Current financial assets 187,190 226,709 Trade receivables At amortised cost 110,755 94,549 Cash and cash equivalents At amortised cost 76,435 132,160 TOTAL FINANCIAL ASSETS 187,190 226,709 Non-current financial liabilities 197,938 221,071 Interest-bearing liabilities At amortised cost 196,066 218,837 Derivative financial instruments Designated in a cash flow hedge 107 371 Other non-current liabilities At fair value through P&L 1,765 1,863 Current financial liabilities 210,181 142,754 Interest-bearing liabilities At amortised cost 70,178 17,439 Trade payables At amortised cost 140,003 125,315 TOTAL FINANCIAL LIABILITIES 408,118 363,826 The fair value of the financial assets and liabilities measured at amortised cost approximate their carrying amount.The financial instruments measured at fair value are grouped into Levels 1 to 3 based on the degree to which the fair value is observable:\u2022 Level 1 fair value measurements are those derived from quoted prices (unadjusted) in active markets for identical assets or liabilities;\u2022 Level 2 fair value measurements are those derived from 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);\u2022 Level 3 fair value measurements are those derived from valuation techniques that include input for the asset or liability that are not based on observable market data (unobservable input).The fair values of the derivatives of the Group are based on level 2 inputs as defined under IFRS 7.27.The fair value of the other non-current liabilities (put options, see note 24) is based on level 3 input.No transfers between the different fair value hierarchy levels took place in 2022 and 2021. The Group uses financial derivatives to cover risks from adverse exchange rate and interest rate fluctuations. No derivatives are used for trading purposes. The following table presents an overview of the derivative instruments outstanding at reporting date:FAIR VALUE NOTIONAL AMOUNTSIN THOUSANDS OF EUR DECEMBER 31, 2022 DECEMBER 31, 2021 DECEMBER 31, 2022 DECEMBER 31, 2021Designated in a cash flow hedgeInterest rate swaps 107 371 27,000 27,000 TOTAL DERIVATIVE FINANCIAL LIABILITIES 107 371 27,000 27,000 The derivative instruments presented in the table above are all designated in a cash flow hedge relationship.", "dimensions": { "concept": "ifrs-full:DisclosureOfFinancialInstrumentsExplanatory", "language": "en", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "pp-value-139-8": { "value": "24. OTHER LIABILITIES The other non-current liabilities relate to put options granted to third parties with respect to the remaining non-controlling interests in Natural Balance Foods Ltd., where these put options give holders the right to sell (part of) their investment in this subsidiary. At the end of December 2022, Lotus Bakeries held 97.9% of the shares, with the remaining 2.1% still held by the founders. These put options are unconditional and the exercise price depends on the future financial performance (revenue and operating result) of Natural Balance Foods Ltd. In accordance with IAS 32, where non-controlling interests hold put options giving them the right to sell their investment, a financial liability is recorded for the present value of the exercise price expected to be paid. These put options are classified as level 3 instruments in accordance with the fair value hierarchy of IFRS 7 \u2013 Financial Instruments: Disclosures. The counterpart of this liability is a cancellation of the underlying non-controlling interest. The difference between the value of the non-controlling interest and the fair value of the liability is added to the consolidated reserves, which are included in shareholders\u2019 equity.26. FINANCIAL INSTRUMENTS AND FINANCIAL RISK MANAGEMENT26.1 Overview of financial instruments The table below summarises all financial instruments by category in accordance with IFRS 9:IN THOUSANDS OF EUR IFRS 9 CATEGORY DECEMBER 31, 2022 DECEMBER 31, 2021Current financial assets 187,190 226,709 Trade receivables At amortised cost 110,755 94,549 Cash and cash equivalents At amortised cost 76,435 132,160 TOTAL FINANCIAL ASSETS 187,190 226,709 Non-current financial liabilities 197,938 221,071 Interest-bearing liabilities At amortised cost 196,066 218,837 Derivative financial instruments Designated in a cash flow hedge 107 371 Other non-current liabilities At fair value through P&L 1,765 1,863 Current financial liabilities 210,181 142,754 Interest-bearing liabilities At amortised cost 70,178 17,439 Trade payables At amortised cost 140,003 125,315 TOTAL FINANCIAL LIABILITIES 408,118 363,826 The fair value of the financial assets and liabilities measured at amortised cost approximate their carrying amount.The financial instruments measured at fair value are grouped into Levels 1 to 3 based on the degree to which the fair value is observable:\u2022 Level 1 fair value measurements are those derived from quoted prices (unadjusted) in active markets for identical assets or liabilities;\u2022 Level 2 fair value measurements are those derived from 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);\u2022 Level 3 fair value measurements are those derived from valuation techniques that include input for the asset or liability that are not based on observable market data (unobservable input).The fair values of the derivatives of the Group are based on level 2 inputs as defined under IFRS 7.27.The fair value of the other non-current liabilities (put options, see note 24) is based on level 3 input.", "dimensions": { "concept": "ifrs-full:DisclosureOfFinancialInstrumentsAtFairValueThroughProfitOrLossExplanatory", "language": "en", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "f90930": { "value": "The other current liabilities include mainly accrued expenses and deferred income.", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherCurrentLiabilitiesExplanatory", "language": "en", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "f90931": { "value": "The other current liabilities include mainly accrued expenses and deferred income.", "dimensions": { "concept": "ifrs-full:DisclosureOfAccruedExpensesAndOtherLiabilitiesExplanatory", "language": "en", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "f90932": { "value": "The other current liabilities include mainly accrued expenses and deferred income.", "dimensions": { "concept": "ifrs-full:DisclosureOfDeferredIncomeExplanatory", "language": "en", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "pp-value-141-4": { "value": "25. DEFERRED AND CURRENT TAXESDeferred taxesThe deferred tax assets and liabilities can be reconciled as follows:AS AT RECOGNISED THROUGH RECOGNISEDBUSINESSEXCHANGEAS AT IN THOUSANDS OF EURJANUARY 1, 2022THE INCOME STATEMENTTHROUGH EQUITYCOMBINATIONSDIFFERENCESDECEMBER 31, 2022Intangible assets (33,588) 661 - (1,424) 963 (33,389) Property, plant and equipment (32,542) 584 - - (458) (32,416) Inventories 511 (271) - 13 (21) 232 Employee benefit obligations 991 (135) (12) - - 844 Other liabilities (2,225) (144) - 521 - (1,848) Derivative financial instruments 161 - (66) - - 95 Tax losses carried forward 5,023 (1,600) - - 226 3,649 Other (392) 1,790 - - (68) 1,331 TOTAL DEFERRED TAXES (62,061) 885 (78) (890) 642 (61,503) Of which deferred tax assets 2,182 2,212 Of which deferred tax liabilities (64,243) (63,716) AS AT RECOGNISED THROUGH RECOGNISEDBUSINESSEXCHANGEAS ATIN THOUSANDS OF EURJANUARI 1, 2021THE INCOME STATEMENTTHROUGH EQUITYCOMBINATIONSDIFFERENCESDECEMBER 31, 2021Intangible assets (27,136) (5,610) - - (842) (33,588) Property, plant and equipment (30,802) (1,319) - - (421) (32,542) Inventories 350 158 - - 3 511 Employee benefit obligations 800 255 (65) - 1 991 Other liabilities (2,018) (260) - - 53 (2,225) Derivative financial instruments 248 - (87) - - 161 Tax losses carried forward 8,794 (3,988) - - 217 5,023 Other (4,080) 3,736 - - (48) (392) TOTAL DEFERRED TAXES (53,844) (7,028) (152) - (1,037) (62,061) Of which deferred tax assets 3,351 2,182 Of which deferred tax liabilities (57,195) (64,243) The recognition of these deferred tax assets is supported by profit expectations in the foreseeable future.At year-end 2022, there are no unrecognised deferred tax assets.Current taxesThe current tax assets mainly relate to the excess of pre-payments made compared to the actual income tax payable for the year. The current tax liabilities include actual corporate taxes payable.", "dimensions": { "concept": "ifrs-full:DisclosureOfTaxReceivablesAndPayablesExplanatory", "language": "en", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "pp-value-147-6": { "value": "The fair value of the financial assets and liabilities measured at amortised cost approximate their carrying amount.The financial instruments measured at fair value are grouped into Levels 1 to 3 based on the degree to which the fair value is observable:\u2022 Level 1 fair value measurements are those derived from quoted prices (unadjusted) in active markets for identical assets or liabilities;\u2022 Level 2 fair value measurements are those derived from 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);\u2022 Level 3 fair value measurements are those derived from valuation techniques that include input for the asset or liability that are not based on observable market data (unobservable input).The fair values of the derivatives of the Group are based on level 2 inputs as defined under IFRS 7.27.The fair value of the other non-current liabilities (put options, see note 24) is based on level 3 input.", "dimensions": { "concept": "ifrs-full:DisclosureOfFairValueOfFinancialInstrumentsExplanatory", "language": "en", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "pp-value-148-3": { "value": "No transfers between the different fair value hierarchy levels took place in 2022 and 2021. ", "dimensions": { "concept": "ifrs-full:DisclosureOfReclassificationOfFinancialInstrumentsExplanatory", "language": "en", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "pp-value-149-3": { "value": "The Group uses financial derivatives to cover risks from adverse exchange rate and interest rate fluctuations. No derivatives are used for trading purposes. The following table presents an overview of the derivative instruments outstanding at reporting date:FAIR VALUE NOTIONAL AMOUNTSIN THOUSANDS OF EUR DECEMBER 31, 2022 DECEMBER 31, 2021 DECEMBER 31, 2022 DECEMBER 31, 2021Designated in a cash flow hedgeInterest rate swaps 107 371 27,000 27,000 TOTAL DERIVATIVE FINANCIAL LIABILITIES 107 371 27,000 27,000 The derivative instruments presented in the table above are all designated in a cash flow hedge relationship.", "dimensions": { "concept": "ifrs-full:DisclosureOfDerivativeFinancialInstrumentsExplanatory", "language": "en", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "pp-value-150-2": { "value": "26.2 Financial risk managementThe Group\u2019s activities expose it to a variety of financial risks: market risk (including currency risk, interest rate risk and commodity price risk), credit risk and liquidity risk. Currency riskThe functional currency of the Company is EUR, which is also the Group\u2019s reporting currency. Translation gains or losses that result from remeasuring foreign subsidiaries\u2019 local currencies to EUR are recorded in other comprehensive income. Foreign currency transactions resulting in gains or losses are recorded in the consolidated income statement.As the Group is operating in various jurisdiction with different currencies, the Group is subject to foreign currency risks. The main foreign currency transactions (mainly sales and purchase transactions) take place in USD, GBP, SEK, ZAR, CNY, KRW, CZK and CHF. The Group did not enter into any currency hedging arrangements in order to cover this risk. The Group actively monitors its transactional currency exposures and consequently takes actions to mitigate any risks related to the outstanding foreign currency positions.The following table presents the carrying amounts of the Group\u2019s main foreign currency denominated monetary assets and monetary liabilities at the end of 2022:IN THOUSANDS OF EUR ASSETS LIABILITIESEUR 447,935 (688,719)USD 155,582 (145,307)GBP 39,108 (25,840)SEK 25,764 (26,744)ZAR 17,800 (9,574)CNY 8,789 (1,951)KRW 2,573 (174)CZK 1,322 (626)CHF 756 (305)Interest rate riskThe Group is exposed to interest rate risk because entities in the Group borrow funds at both fixed and floating interest rates. The risk is managed by the Group by maintaining an appropriate mix between fixed and floating rate borrowings, and by the use of interest rate swap contracts. Hedging activities are evaluated regularly to align with interest rate views and defined risk appetite, ensuring the most cost-effective hedging strategies are applied.As the Group mainly has fixed rate financial instruments and the floating rate debt is hedged using an interest rate swap at year-end 2022, it considers this risk to be limited and therefore no sensitivity analysis has been prepared.Commodity price riskCommodity price risk arises from transactions to purchase raw materials and energy on the market. The risk relates to the exposure of the Group to fluctuations in the prices of commodities which are necessary for the manufacturing of products.To mitigate the risk of unfavourable price evolutions, the Group enters into forward agreements with fixed prices for the key commodities (executory contracts) and closely monitors the price trends on the market.At year-end 2022, the Group did not enter into any hedging arrangements in order to cover this risk.Credit riskCredit risk is the risk that one party to an agreement will cause a financial loss to another party by failing to discharge its obligation. Credit risk covers trade receivables, cash and cash equivalents, short-term deposits and other financial assets.The credit risk is managed on a group basis. It is the Group\u2019s policy to deal with creditworthy partners to avoid significant risk exposure.The Group has a diversified international customer portfolio, consisting mainly of large retail, cash-and-carry and foodservice companies in various countries. For export outside Europe, the US, South Korea and China, the Group requires the use of letters of credits or credit insurance. Strict procedures and rules are in place to accurately monitor customers and mitigate and manage any potential risks as quickly and effectively as possible.For trade receivables, an impairment analysis is performed at each reporting date using a provision matrix to measure expected credit losses. The provision rates are based on days past due for groupings of various customer segments with similar loss patterns (i.e., by geographical region, product type). Available liquidities are placed with several highly reputable financial institutions.The maximum credit risk to which the Group is theoretically exposed as at the reporting date is the carrying amount of the financial assets.Liquidity riskThe Group manages liquidity risk by maintaining adequate reserves and reserve borrowing facilities, by continuously monitoring forecast and actual cash flows, and by matching the maturity profiles of financial assets and liabilities.The Group\u2019s main sources of cash inflows are currently obtained through capital increases and external financing through bank loans.The following table details the Group\u2019s remaining contractual maturity of its financial liabilities with agreed repayment periods. The table has been drawn up based on the undiscounted cash flows of financial liabilities based on the earliest date on which the Company can be required to pay. The table includes both interest and principal cash flows.DECEMBER 31, 2022IN THOUSANDS OF EUR WITHIN ONE YEAR >1 AND <5 YEARS >5 YEARSBank loans 66,540 176,615 12,950 Lease liabilities 4,178 9,648 3,918DECEMBER 31, 2021IN THOUSANDS OF EUR WITHIN ONE YEAR >1 AND <5 YEARS >5 YEARSBank loans 14,138 205,967 11,727 Lease liabilities 3,439 5,830 3,506 ", "dimensions": { "concept": "ifrs-full:DisclosureOfFinancialRiskManagementExplanatory", "language": "en", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "pp-value-151-3": { "value": " Currency riskThe functional currency of the Company is EUR, which is also the Group\u2019s reporting currency. Translation gains or losses that result from remeasuring foreign subsidiaries\u2019 local currencies to EUR are recorded in other comprehensive income. Foreign currency transactions resulting in gains or losses are recorded in the consolidated income statement.As the Group is operating in various jurisdiction with different currencies, the Group is subject to foreign currency risks. The main foreign currency transactions (mainly sales and purchase transactions) take place in USD, GBP, SEK, ZAR, CNY, KRW, CZK and CHF. The Group did not enter into any currency hedging arrangements in order to cover this risk. The Group actively monitors its transactional currency exposures and consequently takes actions to mitigate any risks related to the outstanding foreign currency positions.The following table presents the carrying amounts of the Group\u2019s main foreign currency denominated monetary assets and monetary liabilities at the end of 2022:IN THOUSANDS OF EUR ASSETS LIABILITIESEUR 447,935 (688,719)USD 155,582 (145,307)GBP 39,108 (25,840)SEK 25,764 (26,744)ZAR 17,800 (9,574)CNY 8,789 (1,951)KRW 2,573 (174)CZK 1,322 (626)CHF 756 (305)", "dimensions": { "concept": "ifrs-full:DisclosureOfEffectOfChangesInForeignExchangeRatesExplanatory", "language": "en", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "pp-value-153-3": { "value": "Commodity price riskCommodity price risk arises from transactions to purchase raw materials and energy on the market. The risk relates to the exposure of the Group to fluctuations in the prices of commodities which are necessary for the manufacturing of products.To mitigate the risk of unfavourable price evolutions, the Group enters into forward agreements with fixed prices for the key commodities (executory contracts) and closely monitors the price trends on the market.At year-end 2022, the Group did not enter into any hedging arrangements in order to cover this risk.", "dimensions": { "concept": "ifrs-full:DisclosureOfMarketRiskExplanatory", "language": "en", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "pp-value-154-3": { "value": "Credit riskCredit risk is the risk that one party to an agreement will cause a financial loss to another party by failing to discharge its obligation. Credit risk covers trade receivables, cash and cash equivalents, short-term deposits and other financial assets.The credit risk is managed on a group basis. It is the Group\u2019s policy to deal with creditworthy partners to avoid significant risk exposure.The Group has a diversified international customer portfolio, consisting mainly of large retail, cash-and-carry and foodservice companies in various countries. For export outside Europe, the US, South Korea and China, the Group requires the use of letters of credits or credit insurance. Strict procedures and rules are in place to accurately monitor customers and mitigate and manage any potential risks as quickly and effectively as possible.For trade receivables, an impairment analysis is performed at each reporting date using a provision matrix to measure expected credit losses. The provision rates are based on days past due for groupings of various customer segments with similar loss patterns (i.e., by geographical region, product type). Available liquidities are placed with several highly reputable financial institutions.The maximum credit risk to which the Group is theoretically exposed as at the reporting date is the carrying amount of the financial assets.", "dimensions": { "concept": "ifrs-full:DisclosureOfCreditRiskExplanatory", "language": "en", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "pp-value-155-3": { "value": "Liquidity riskThe Group manages liquidity risk by maintaining adequate reserves and reserve borrowing facilities, by continuously monitoring forecast and actual cash flows, and by matching the maturity profiles of financial assets and liabilities.The Group\u2019s main sources of cash inflows are currently obtained through capital increases and external financing through bank loans.The following table details the Group\u2019s remaining contractual maturity of its financial liabilities with agreed repayment periods. The table has been drawn up based on the undiscounted cash flows of financial liabilities based on the earliest date on which the Company can be required to pay. The table includes both interest and principal cash flows.DECEMBER 31, 2022IN THOUSANDS OF EUR WITHIN ONE YEAR >1 AND <5 YEARS >5 YEARSBank loans 66,540 176,615 12,950 Lease liabilities 4,178 9,648 3,918DECEMBER 31, 2021IN THOUSANDS OF EUR WITHIN ONE YEAR >1 AND <5 YEARS >5 YEARSBank loans 14,138 205,967 11,727 Lease liabilities 3,439 5,830 3,506 ", "dimensions": { "concept": "ifrs-full:DisclosureOfLiquidityRiskExplanatory", "language": "en", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "pp-value-158-2": { "value": "27. RELATED PARTIESA list of all Group companies is provided in note 32. Further details of the shareholding structure of Lotus Bakeries NV as at December 31, 2022 are disclosed in the Corporate Governance Statement in Part 1 of the 2022 annual report of Lotus Bakeries.Balances and transactions between Lotus Bakeries NV and its subsidiaries, which are related parties of the Company, have been eliminated in consolidation and are not disclosed in this note.Key management personnel is composed of all members of the Board of Directors and members of the Executive Committee. For information on the remuneration of the CEO, the remuneration of the executive managers and the remuneration of the board members in 2022, we refer to the remuneration report included in Part 1 of the 2022 annual report. Apart from the key management remuneration, no significant transactions occurred with related parties.", "dimensions": { "concept": "ifrs-full:DisclosureOfRelatedPartyExplanatory", "language": "en", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "pp-value-158-3": { "value": "27. RELATED PARTIESA list of all Group companies is provided in note 32. Further details of the shareholding structure of Lotus Bakeries NV as at December 31, 2022 are disclosed in the Corporate Governance Statement in Part 1 of the 2022 annual report of Lotus Bakeries.Balances and transactions between Lotus Bakeries NV and its subsidiaries, which are related parties of the Company, have been eliminated in consolidation and are not disclosed in this note.Key management personnel is composed of all members of the Board of Directors and members of the Executive Committee. For information on the remuneration of the CEO, the remuneration of the executive managers and the remuneration of the board members in 2022, we refer to the remuneration report included in Part 1 of the 2022 annual report. Apart from the key management remuneration, no significant transactions occurred with related parties.", "dimensions": { "concept": "ifrs-full:DisclosureOfInformationAboutKeyManagementPersonnelExplanatory", "language": "en", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "pp-value-159-2": { "value": "28. COMMITMENTS Capital commitments As at December 31, 2022, the Group has EUR 15,122 thousands of commitments (2021: EUR 35,747 thousands) for the acquisition of property, plant and equipment.Contracts for raw materials and finished products Purchased but not yet delivered raw materials and finished products in 2023 and 2024 are detailed below:IN THOUSANDS OF EUR 2022Less than one year 112,971More than one year and less than five years 34,244TOTAL 147,215Other rights and commitments Bank guarantees as at December 31, 2022 amounted to EUR 1,543 thousands (2021: EUR 1,564 thousands). Lotus Bakeries commits itself not to dispose of, mortgage or pledge any fixed assets without prior consultation with the credit-granting institutions. These assets serve as guarantee for the loans (\u2018full negative pledge\u2019).", "dimensions": { "concept": "ifrs-full:DisclosureOfCommitmentsAndContingentLiabilitiesExplanatory", "language": "en", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "pp-value-159-3": { "value": "28. COMMITMENTS Capital commitments As at December 31, 2022, the Group has EUR 15,122 thousands of commitments (2021: EUR 35,747 thousands) for the acquisition of property, plant and equipment.Contracts for raw materials and finished products Purchased but not yet delivered raw materials and finished products in 2023 and 2024 are detailed below:IN THOUSANDS OF EUR 2022Less than one year 112,971More than one year and less than five years 34,244TOTAL 147,215", "dimensions": { "concept": "ifrs-full:DisclosureOfCommitmentsExplanatory", "language": "en", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "pp-value-161-2": { "value": "29. SUBSEQUENT EVENTS No significant events have occurred since December 31, 2022 which would have a material impact on the 2022 financial statements.", "dimensions": { "concept": "ifrs-full:DisclosureOfEventsAfterReportingPeriodExplanatory", "language": "en", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "pp-value-162-2": { "value": "30. MANAGEMENT RESPONSIBILITY STATEMENT We hereby certify that, to the best of our knowledge, the consolidated financial statements for the year ended December 31, 2022, which have been prepared in accordance with IFRS (International Financial Reporting Standards), give a true and fair view of the assets, liabilities, financial position and profit or loss of the Company and the subsidiaries included in the consolidation as a whole, and that the annual report includes a fair review of the important events that have occurred during the year 2022 and of the major transactions with the related parties, and their impact on the consolidated financial statements, together with a description of the principal risks and uncertainties with which the company is confronted. Lembeke, March 20, 2023 On behalf of the Board of Directors Jan Boone, CEO", "dimensions": { "concept": "ifrs-full:DisclosureOfAuthorisationOfFinancialStatementsExplanatory", "language": "en", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "pp-value-163-3": { "value": "31. AUDIT FEESIN THOUSANDS OF EUR 2022 2021Audit feesLotus Bakeries NV 152 88 Lotus Bakeries Group 443 401 Additional services rendered by the Auditor or its related partiesOther audit-related fees 111 65 Tax fees 43 107 Other non-audit fees 50 -TOTAL 799 661 ", "dimensions": { "concept": "ifrs-full:DisclosureOfAuditorsRemunerationExplanatory", "language": "en", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "pp-value-160-3": { "value": "Other rights and commitments Bank guarantees as at December 31, 2022 amounted to EUR 1,543 thousands (2021: EUR 1,564 thousands). Lotus Bakeries commits itself not to dispose of, mortgage or pledge any fixed assets without prior consultation with the credit-granting institutions. These assets serve as guarantee for the loans (\u2018full negative pledge\u2019).", "dimensions": { "concept": "ifrs-full:DisclosureOfContingentLiabilitiesExplanatory", "language": "en", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "pp-value-164-3": { "value": "32. CONSOLIDATION SCOPENAME ADDRESS VAT OR NATIONAL NUMBER 2022 2021% %Lotus Bakeries Belgi\u00eb NV Gentstraat 52, 9971 Lembeke, BE VAT BE 0421.694.038 100.00 100.00 Interwaffles SA Rue de Li\u00e8ge 39, 6180 Courcelles, BE VAT BE 0439.312.406 100.00 100.00 Lotus Bakeries Corporate NV Gentstraat 1, 9971 Lembeke, BE VAT BE 0881.664.870 100.00 100.00 Lotus Bakeries NV Gentstraat 1, 9971 Lembeke, BE VAT BE 0401.030.860 100.00 100.00 Cremers-Ribert NV Gentstraat 52, 9971 Lembeke, BE VAT BE 0427.808.008 100.00 100.00 B.W.I. BV Ambachtenstraat 5, 9900 Eeklo, BE VAT BE 0898.518.522 100.00 100.00 Biscuiterie Willems BV Nieuwendorpe 33 Bus C, 9900 Eeklo, BE VAT BE 0401.006.413 100.00 100.00 FF2032 NV Gentstraat 1, 9971 Lembeke, BE VAT BE 0730.550.847 - 100.00 Lotus Bakeries France SAS Place du Ch\u00e2teau 9 bis, 59560 Comines, F VAT FR93 320 509 755 100.00 100.00 Biscuiterie Vander SAS Place du Ch\u00e2teau 9 bis, 59560 Comines, F VAT FR28 472 500 941 100.00 100.00 Biscuiterie Le Glazik SAS 815 Avenue du Pays Glazik, 29510 Briec-de-l'Odet, F VAT FR95 377 380 985 100.00 100.00 Enkhuizer Koekfabriek BV Oosterdijk 3e, 1601 DA Enkhuizen, NL VAT NL823011112B01 100.00 100.00 Koninklijke Peijnenburg BV Nieuwendijk 45, 5664 HB Geldrop, NL VAT NL003897187B01 100.00 100.00 Peijnenburg's Koekfabrieken BV Nieuwendijk 45, 5664 HB Geldrop, NL VAT NL001351576B01 100.00 100.00 WK Koek Bakkerij BV Streek 71, 8464 NE Sintjohannesga, NL VAT NL006634151B01 100.00 100.00 WK Koek Beheer BV Streek 71, 8464 NE Sintjohannesga, NL VAT NL006634199B01 100.00 100.00 Lotus Bakeries Nederland BV Nieuwendijk 45, 5664 HB Geldrop, NL VAT NL004458953B01 100.00 100.00 Lotus Bakeries GmbH Ro\u00dfstra\u00dfe 92, 40476 Dusseldorf, DE VAT DE 811 842 770 100.00 100.00 Lotus Bakeries R\u00e9assurances SA 74, Rue de Merl, 2146 Luxembourg, L R.C.S. Luxembourg B53262 100.00 100.00 Lotus Bakeries International und Schweiz AG Neuhofstrasse 24, 6340 Baar, CH VAT CHE-105.424.218 100.00 100.00 FF2032 AG Neuhofstrasse 24, 6340 Baar, CH VAT CHE-241.819.783 100.00 100.00 NAME ADDRESS VAT OR NATIONAL NUMBER 2022 2021% %Lotus Bakeries CZ s.r.o. Americk\u00e1 415/36, 120 00 Praha 2, CZ VAT CZ 271 447 55 100.00 100.00Lotus Bakeries North America Inc. 1000 Sansome Street Suite 350, San Francisco, CA 94111-1323, USA IRS 94-3124525 100.00 100.00 NBF USA Inc. 1000 Sansome Street Suite 350, San Francisco, CA 94111-1323, USA C3598146 - 100.00Lotus Bakeries US, LLC 2010 Park Center Drive, Mebane, NC 27302, USA IRS 82-1300286 100.00 100.00 Lotus Bakeries US Manufacturing, LLC 2010 Park Center Drive, Mebane, NC 27302, USA IRS 82-2542596 100.00 100.00 Lotus Bakeries Austria GmbH Fleischmarkt 1/6/12, 1010 Wien, AT VAT ATU72710827 100.00 100.00Lotus Bakeries UK Ltd. First Floor Premises, Whitecroft House, 51 Water Lane, Wilmslow, Cheshire SK9 5BQ, UK VAT GB 896 168 761 100.00 100.00Natural Balance Foods Ltd. Second floor, 45 Grosvenor Road, St. Albans, AL1 3AW, UK VAT GB 841 254 348 97.90 97.90 Urban Fresh Foods Ltd. Second floor, 45 Grosvenor Road, St. Albans, AL1 3AW, UK VAT GB 883 060 032 100.00 100.00 The Kids Food Company Ltd. Second floor, 45 Grosvenor Road, St. Albans, AL1 3AW, UK VAT GB 977 396 157 100.00 100.00 Peter's Yard Wholesale Ltd. Brassey Road, Old Potss Way 1 GB-SY3 7FA Shrewsbury UK VAT GB 938 740 100 100.00 -Lotus Bakeries Espana S.L. C/ Severo Ochoa, 3, 2a Planta Oficina 8A, 28232 Las Rozas (Madrid), ES VAT ESB80405137 100.00 100.00 AB Annas Pepparkakor Radiov\u00e4gen 23, SE 135 48 Tyres\u00f6, SE VAT SE556149914501 100.00 100.00 Annas - Lotus Bakeries Holding AB Radiov\u00e4gen 23, SE 135 48 Tyres\u00f6, SE Registration no. 556757-7241 100.00 100.00Inland Revenue Department file no. Lotus Bakeries Asia Pacific Limited 5/F, Manulife, 348 Kwun Tong Road, Kowloon, HK100.00 100.00 22/51477387Lotus Bakeries Biscuits Trading (Shanghai) Company Ltd. Room 01.02.06, Floor 15, No. 511 Weihai Road, Jing'an Disctrict, Shanghai 200041, P.R. CN Registration no. 913100000781169357 100.00 100.00 Lotus Bakeries Chile SpA Nueva Tajamar #555 OF401, Las Condes, Santiago, 7550099 CL VAT (RUT) 76.215.081-6 - 100.00 Lotus Bakeries Italia S.r.l. Regus Dante Cairoli, Via Dante 16, Quartiere Castello, 20121 Milan, IT VAT IT03029890211 100.00 100.00 Lotus Bakeries Korea Co. Ltd. 4/F, AIA Tower, 16 Tongil-ro-2-gil, Jung-gu, Seoul 04511, KR Registration no. 128-81-19621 100.00 100.00 Lotus South Africa Manufacturing Ltd. Erf 4109 Voortrekker Road, Wolseley, Western Cape 6830, ZA VAT 4190279762 100.00 100.00 Summer Hill, Unit TT11, 3rd Floor, No. 1106 Sukhumvit Road, Phrakhanong Sub-district, Lotus Asia PacificVAT 0105565109964 100.00 -Klongtoey District, Bangkok 10110, Thailand", "dimensions": { "concept": "ifrs-full:DisclosureOfSignificantInvestmentsInSubsidiariesExplanatory", "language": "en", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "pp-value-164-4": { "value": "32. CONSOLIDATION SCOPENAME ADDRESS VAT OR NATIONAL NUMBER 2022 2021% %Lotus Bakeries Belgi\u00eb NV Gentstraat 52, 9971 Lembeke, BE VAT BE 0421.694.038 100.00 100.00 Interwaffles SA Rue de Li\u00e8ge 39, 6180 Courcelles, BE VAT BE 0439.312.406 100.00 100.00 Lotus Bakeries Corporate NV Gentstraat 1, 9971 Lembeke, BE VAT BE 0881.664.870 100.00 100.00 Lotus Bakeries NV Gentstraat 1, 9971 Lembeke, BE VAT BE 0401.030.860 100.00 100.00 Cremers-Ribert NV Gentstraat 52, 9971 Lembeke, BE VAT BE 0427.808.008 100.00 100.00 B.W.I. BV Ambachtenstraat 5, 9900 Eeklo, BE VAT BE 0898.518.522 100.00 100.00 Biscuiterie Willems BV Nieuwendorpe 33 Bus C, 9900 Eeklo, BE VAT BE 0401.006.413 100.00 100.00 FF2032 NV Gentstraat 1, 9971 Lembeke, BE VAT BE 0730.550.847 - 100.00 Lotus Bakeries France SAS Place du Ch\u00e2teau 9 bis, 59560 Comines, F VAT FR93 320 509 755 100.00 100.00 Biscuiterie Vander SAS Place du Ch\u00e2teau 9 bis, 59560 Comines, F VAT FR28 472 500 941 100.00 100.00 Biscuiterie Le Glazik SAS 815 Avenue du Pays Glazik, 29510 Briec-de-l'Odet, F VAT FR95 377 380 985 100.00 100.00 Enkhuizer Koekfabriek BV Oosterdijk 3e, 1601 DA Enkhuizen, NL VAT NL823011112B01 100.00 100.00 Koninklijke Peijnenburg BV Nieuwendijk 45, 5664 HB Geldrop, NL VAT NL003897187B01 100.00 100.00 Peijnenburg's Koekfabrieken BV Nieuwendijk 45, 5664 HB Geldrop, NL VAT NL001351576B01 100.00 100.00 WK Koek Bakkerij BV Streek 71, 8464 NE Sintjohannesga, NL VAT NL006634151B01 100.00 100.00 WK Koek Beheer BV Streek 71, 8464 NE Sintjohannesga, NL VAT NL006634199B01 100.00 100.00 Lotus Bakeries Nederland BV Nieuwendijk 45, 5664 HB Geldrop, NL VAT NL004458953B01 100.00 100.00 Lotus Bakeries GmbH Ro\u00dfstra\u00dfe 92, 40476 Dusseldorf, DE VAT DE 811 842 770 100.00 100.00 Lotus Bakeries R\u00e9assurances SA 74, Rue de Merl, 2146 Luxembourg, L R.C.S. Luxembourg B53262 100.00 100.00 Lotus Bakeries International und Schweiz AG Neuhofstrasse 24, 6340 Baar, CH VAT CHE-105.424.218 100.00 100.00 FF2032 AG Neuhofstrasse 24, 6340 Baar, CH VAT CHE-241.819.783 100.00 100.00 NAME ADDRESS VAT OR NATIONAL NUMBER 2022 2021% %Lotus Bakeries CZ s.r.o. Americk\u00e1 415/36, 120 00 Praha 2, CZ VAT CZ 271 447 55 100.00 100.00Lotus Bakeries North America Inc. 1000 Sansome Street Suite 350, San Francisco, CA 94111-1323, USA IRS 94-3124525 100.00 100.00 NBF USA Inc. 1000 Sansome Street Suite 350, San Francisco, CA 94111-1323, USA C3598146 - 100.00Lotus Bakeries US, LLC 2010 Park Center Drive, Mebane, NC 27302, USA IRS 82-1300286 100.00 100.00 Lotus Bakeries US Manufacturing, LLC 2010 Park Center Drive, Mebane, NC 27302, USA IRS 82-2542596 100.00 100.00 Lotus Bakeries Austria GmbH Fleischmarkt 1/6/12, 1010 Wien, AT VAT ATU72710827 100.00 100.00Lotus Bakeries UK Ltd. First Floor Premises, Whitecroft House, 51 Water Lane, Wilmslow, Cheshire SK9 5BQ, UK VAT GB 896 168 761 100.00 100.00Natural Balance Foods Ltd. Second floor, 45 Grosvenor Road, St. Albans, AL1 3AW, UK VAT GB 841 254 348 97.90 97.90 Urban Fresh Foods Ltd. Second floor, 45 Grosvenor Road, St. Albans, AL1 3AW, UK VAT GB 883 060 032 100.00 100.00 The Kids Food Company Ltd. Second floor, 45 Grosvenor Road, St. Albans, AL1 3AW, UK VAT GB 977 396 157 100.00 100.00 Peter's Yard Wholesale Ltd. Brassey Road, Old Potss Way 1 GB-SY3 7FA Shrewsbury UK VAT GB 938 740 100 100.00 -Lotus Bakeries Espana S.L. C/ Severo Ochoa, 3, 2a Planta Oficina 8A, 28232 Las Rozas (Madrid), ES VAT ESB80405137 100.00 100.00 AB Annas Pepparkakor Radiov\u00e4gen 23, SE 135 48 Tyres\u00f6, SE VAT SE556149914501 100.00 100.00 Annas - Lotus Bakeries Holding AB Radiov\u00e4gen 23, SE 135 48 Tyres\u00f6, SE Registration no. 556757-7241 100.00 100.00Inland Revenue Department file no. Lotus Bakeries Asia Pacific Limited 5/F, Manulife, 348 Kwun Tong Road, Kowloon, HK100.00 100.00 22/51477387Lotus Bakeries Biscuits Trading (Shanghai) Company Ltd. Room 01.02.06, Floor 15, No. 511 Weihai Road, Jing'an Disctrict, Shanghai 200041, P.R. CN Registration no. 913100000781169357 100.00 100.00 Lotus Bakeries Chile SpA Nueva Tajamar #555 OF401, Las Condes, Santiago, 7550099 CL VAT (RUT) 76.215.081-6 - 100.00 Lotus Bakeries Italia S.r.l. Regus Dante Cairoli, Via Dante 16, Quartiere Castello, 20121 Milan, IT VAT IT03029890211 100.00 100.00 Lotus Bakeries Korea Co. Ltd. 4/F, AIA Tower, 16 Tongil-ro-2-gil, Jung-gu, Seoul 04511, KR Registration no. 128-81-19621 100.00 100.00 Lotus South Africa Manufacturing Ltd. Erf 4109 Voortrekker Road, Wolseley, Western Cape 6830, ZA VAT 4190279762 100.00 100.00 Summer Hill, Unit TT11, 3rd Floor, No. 1106 Sukhumvit Road, Phrakhanong Sub-district, Lotus Asia PacificVAT 0105565109964 100.00 -Klongtoey District, Bangkok 10110, Thailand", "dimensions": { "concept": "ifrs-full:DisclosureOfCompositionOfGroupExplanatory", "language": "en", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } }, "pp-value-168-4": { "value": "Non-recurring income and expensesNon-recurring income and expenses are those items that are considered by management not to relate to transactions, projects and adjustments to the value of assets and liabilities taking place in the ordinary course of activities of the Company. Non-recurring income and expenses are presented separately, due to their size or nature, so as to allow users of the consolidated financial statements of the Company to get a better understanding of the normalised performance of the Company. Non-recurring income and expenses relate to:\u2022 Expenses relating to business combinations and other acquisitions ofinvestments;\u2022 Changes to the Group structure, including costs related to the liquidation ofsubsidiaries and the closure, opening or relocations of activities;\u2022 Impairment of assets and major litigations.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForExceptionalItemsExplanatory", "language": "en", "entity": "scheme:5493004C0K34IFI67I03", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00" } } } }