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"s7_notes__6__13-1": {
"value": "5.1. GENERAL INFORMATIONCampine nv (\u2018the company\u2019) is a limited liability company incorporated in Belgium. The addresses of its registered office and principal place of business are disclosed in the Corporate Data. The principal activities of the company and its subsidiaries (\u2018the Group\u2019) are described in this annual report. Campine has been listed on the Stock Exchange since 18 October 1936, originally under the name \u201cCompagnie Chimique et Metallurgique de la Campine\u201d. The share price can now be found under Euronext stock exchange code \u2018CAMB\u2019 and the name \u2018Campine nv\u2019.5.2. SIGNIFICANT ACCOUNTING POLICIESThe financial statements have been prepared based on the International Financial Reporting Standards as adopted by the EU (\u201cIFRS\u201d). This year, the Group has applied all new and revised standards and interpretations that are relevant to its business and that are effective for the annual reporting period commencing on January 1, 2023",
"dimensions": {
"concept": "ifrs-full:DisclosureOfGeneralInformationAboutFinancialStatementsExplanatory",
"language": "en",
"entity": "scheme:549300D3GNWVMWZD7E21",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s7_notes__6__5": {
"value": "Campine",
"dimensions": {
"concept": "ifrs-full:NameOfReportingEntityOrOtherMeansOfIdentification",
"language": "en",
"entity": "scheme:549300D3GNWVMWZD7E21",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s7_notes__6__7": {
"value": "nv",
"dimensions": {
"concept": "ifrs-full:LegalFormOfEntity",
"language": "en",
"entity": "scheme:549300D3GNWVMWZD7E21",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s7_notes__6__8": {
"value": "Belgium",
"dimensions": {
"concept": "ifrs-full:CountryOfIncorporation",
"language": "en",
"entity": "scheme:549300D3GNWVMWZD7E21",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s7_notes__6__18": {
"value": "5.2. SIGNIFICANT ACCOUNTING POLICIESThe financial statements have been prepared based on the International Financial Reporting Standards as adopted by the EU (\u201cIFRS\u201d). This year, the Group has applied all new and revised standards and interpretations that are relevant to its business and that are effective for the annual reporting period commencing on January 1, 2023. The Group has not early adopted any other standard, interpretation or amendment that has been issued but is not yet effective.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfBasisOfPreparationOfFinancialStatementsExplanatory",
"language": "en",
"entity": "scheme:549300D3GNWVMWZD7E21",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s7_notes__6__16-1": {
"value": "5.2. SIGNIFICANT ACCOUNTING POLICIESThe financial statements have been prepared based on the International Financial Reporting Standards as adopted by the EU (\u201cIFRS\u201d). This year, the Group has applied all new and revised standards and interpretations that are relevant to its business and that are effective for the annual reporting period commencing on January 1, 2023. The Group has not early adopted any other standard, interpretation or amendment that has been issued but is not yet effective.Following standards and interpretations became applicable for 2023: \u2022 Amendments to IAS 1 Presentation of Financial Statements and IFRS Practice Statement 2: Disclosure of Accounting policies, effective 1 January 2023. The valuation rules were reviewed based on this amendment. \u2022 Amendments to IAS 8 Accounting policies, Changes in Accounting Estimates and Errors: Definition of Accounting Estimates, effective 1 January 2023. \u2022 Amendments to IAS 12 International Tax Reform \u2013 Pillar Two Model Rules. Pillar two legislation has been enacted or sustantively enacted in certain jurisdictions in which the Campine Group is active.However, this legislation does not apply to the Group as the consolidated revenue is lower than \u20ac 750 mio. \u2022 Amendments to IAS 12 Income Taxes: Deferred Tax related to Assets and Liabilities arising from a Single Transaction, effective 1 January 2023. \u2022 Amendments to IFRS 17 Insurance contracts: Initial Application of IFRS 17 and IFRS 9 \u2013 Comparative Information, effective 1 January 2023. \u2022 IFRS 17 Insurance Contracts, effective 1 January 2023. These changes had no significant impact on Campine\u2019s consolidated financial statements. Standards and interpretations issued but not yeteffective on 1 January 2023: \u2022 Amendments to IAS 1 Presentation of Financial Statements \u2013 Classification of Liabilities as Current or Non-current (the 2020 amendments and 2022 amendments), effective 1 January 2024 \u2022 Flows and IFRS 7 Financial Instruments: Disclosures, effective 1 January 2024 \u2022 Amendments to IFRS 16 Leases: Lease Liability in a Sale and Leaseback, effective 1 January 2024With regard to the standards effective from 1 January 2024, the Group is currently analyzing the impact of these amendments on Campine\u2019s consolidated financial statements. With regard to the standards that will become effective from January 1, 2025, the group will start this analysis during the second half of 2024. 5.2.1. Basis of consolidationThe consolidated financial statements incorporate the financial statements of the company and entities controlled by the company (its subsidiaries). An investor controls an investee when it is exposed, or has rights, to variable returns from its involvement with the investee and has the ability to affect those returns through its power over the investee. The results of subsidiaries acquired or disposed of during the year are included in the financial information from the effective date of acquisition and up to the effective date of disposal, as appropriate. Where necessary, adjustments are made to the financial statements of subsidiaries to bring their accounting policies into line with those used by other members of the Group. All intra-group transactions, balances, income and expenses are eliminated on consolidation.Changes in the Group\u2019s interest in a subsidiary that do not result in a loss of control are accounted for as equity transactions. The carrying amounts of the Group\u2019s interests and the non-controlling interests are adjusted to reflect the changes in their relative interests in the subsidiary.When the Group loses control of a subsidiary, the profit or loss on disposal is calculated as the difference between (i) the aggregate of the fair value of the consideration received and the fair value of any retained interest and (ii) the previous carrying amount of the assets (including goodwill) and liabilities of the subsidiary and any non-controlling interests. Amounts previously recognised in other comprehensive income in relation to the subsidiary are accounted for (i.e. re-classified to profit or loss or transferred directly to retained earnings) in the same manner as would be required if the relevant assets or liabilities were disposed of. The fair value of any investment retained in the former subsidiary at the date when control is lost is regarded as the fair value on initial recognition for subsequent accounting under IFRS 9 Financial Instruments or, when applicable, the cost on initial recognition of an investment in an associate or jointly controlled entity.Non-controlling interests in subsidiaries are identified separately from the Group\u2019s equity therein. The interest of non-controlling shareholders may be initially measured either at fair value or at the non-controlling interests\u2019 proportionate share of the fair value of the acquiree\u2019s identifiable net assets. The choice of measurement basis is made on an acquisition-by-acquisition basis. Subsequent to acquisition, the carrying amount of non-controlling interests is the amount of those interests at initial recognition plus the non-controlling interests\u2019 share of subsequent changes in equity. Total comprehensive income is attributed to non-controlling interests even if this results in the non-controlling interests having a deficit balance. 5.2.2. Business combinationsThe acquisition of subsidiaries is accounted for using the purchase method. The cost of the acquisition is measured at the aggregate of the fair values, at the date of acquisition, of assets given, liabilities incurred or assumed, and equity instruments issued by the Group in exchange for control of the acquiree. The acquiree\u2019s identifiable assets, liabilities and contingent liabilities that meet the conditions for recognition under IFRS 3 (\u201cBusiness combinations\u201d) are recognised at their fair values at the acquisition date, except for noncurrent assets (or disposal groups) that are classified as held for sale, which are recognised and measured at fair value less costs to sell. Acquisition-related costs are recognised in profit or loss as incurred. Where applicable, the consideration for the acquisition includes any asset or liability resulting from a contingent consideration arrangement, measured at its acquisition-date fair value. Subsequent changes in such fair values are adjusted against the cost of acquisition where they qualify as measurement period adjustments (see below). All other subsequent changes in the fair value of contingent consideration classified as an asset or liability are accounted for in accordance with relevant IFRS.Changes in the fair value of contingent consideration classified as equity are not recognised.Where a business combination is achieved in stages, the Group\u2019s previously held interests in the acquired entity are remeasured to fair value at the acquisition date (i.e. the date the Group attains control) and the resulting gain or loss, if any, is recognised in profit or loss. Amounts arising from interests in the acquire prior to the acquisition date that have previously been recognised in other comprehensive income are reclassified to profit or loss, where such treatment would be appropriate if that interest were disposed of. If the fair value of the net assets acquired is in excess of the aggregate consideration transferred, the Group re-assesses whether it has correctly identified all of the assets acquired and all of the liabilities assumed and reviews the procedures used to measure the amounts to be recognised at the acquisition date.If the reassessment still results in an excess of the fair value of net assets acquired over the aggregate consideration transferred, then the gain is recognised in profit or loss.Goodwill Goodwill arising on acquisition is recognised as an asset and initially measured at cost, being the excess of the cost of the business combination over the group\u2019s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities recognised. If, after reassessment, the group\u2019s interest in the net fair value of the acquiree\u2019s identifiable assets, liabilities and contingent liabilities exceeds the cost of the business combination, the excess (negative consolidation difference) is recognised immediately in profit or loss. The interest of minority shareholders in the acquire is initially measured at the minority\u2019s proportion of the net fair value of the assets, liabilities and contingent liabilities recognised. 5.2.3. Revenue from Contracts with Customers IFRS 15 establishes a five-step model to account for revenue arising from contracts with customers:\u2022 Identify the contract.\u2022 Identify the performance obligations.\u2022 Determine the transaction price.\u2022 Allocate the transaction price to the performance obligations in the contract.\u2022 Recognise revenue when or as the Group satisfies a performance obligation. Under IFRS 15, revenue is recognised at an amount that reflects the consideration to which an entity expects to be entitled in exchange for transferring goods or services to a customer.Nature of sales transactions: The Group is active in the metal business and thus contracts with customers generally concern the sale of these metal products, which qualify as separate performance obligations. Ancillary services, such as transport, are not material. As a result, revenue recognition generally occurs at a point in time, when control of the products is transferred to the customer, generally on delivery of the goods and considering the underlying incoterm.The Group is not involved in transactions and/or contracts including volume rebates, trade discounts, (ancillary) services, customer assistance services or bundled sales contracts of a material nature. Campine works with direct sales people for most of its sales in Europe and with distributors and agents in the rest of the world. The direct sales/purchasing employees are on Campine\u2019s payroll or work on a self-employed basis with a service contract. The distributors and agents are remunerated through commission, which is then also part of the purchase costs. 5.2.4. LeasesDefinition of \u2018lease\u2019A contract is or contains a lease if it conveys a right to control the use of an identified asset for a period of time in exchange for a consideration. To determine whether a lease confers the right to control use of a determined asset for a determined period of time, the entity must appreciate whether, throughout the period of use, it has the right to:\u2022 Obtain substantially all of the economic benefits from the use of the asset.\u2022 Direct the use of the asset. To determine the duration of the leases, any options for renewal or termination have been considered as required by IFRS 16 taking into account the probability of exercising the option and only if it is under the control of the lessee.At the start of the lease, the lessee recognises a right-of-use asset and a lease liability. For leases with a maximum duration of 12 months or leases of assets with low value, Campine applies the practical exemption in IFRS 16. Hence, these leases are not presented on the balance sheet.Right-of-use assetsThe Group recognises right-of-use assets on the commencement date of the contract, i.e. the date on which the asset becomes available for use. These assets are valued at the initial cost of the lease liability minus depreciation and any impairment, adjusted to take into account any revaluations of the lease liability. The initial cost of the right-of-use assets includes the present value of the lease liability, the initial costs incurred by the lessee, rent payments made on the start date or before that date, minus any incentives obtained by the lessee. These assets are depreciated over the estimated lifetime of the underlying asset or over the duration of the contract if this period is shorter, unless the Group is sufficiently certain of obtaining ownership of the asset at the end of the contract. Right-of-use assets are presented separately from other assets as a different line under non-current assets.Lease liabilitiesThe lease liability is valued at the present value of the rent payments that have not yet been paid. The present value of the rent payments must be calculated using the interest rate implicit in the lease if it is possible to determine that rate. If not, the lessee must use its incremental borrowing rate.The incremental borrowing rate is the interest rate that the lessee would have to pay to borrow over a similar term, and with a similar security, the funds necessary to obtain an asset of similar value to the right-of-use asset in a similar economic environment.Over the duration of the contract, the lessee values the lease obligation as follows: \u2022 By increasing the carrying amount to reflect the interest on the lease liabilities.\u2022 By reducing the carrying amount to reflect the rent payments made.\u2022 By revaluing the carrying amount to reflect the new value of the lease obligation or modifications to the lease. Lease liabilities are presented in a separate line on the balance sheet. Payments for the capital reimbursement and the interests are presented under financing activities in the statement of cash flows.5.2.5. Foreign currenciesThe individual financial statements of each group entity are presented in the currency of the primary economic environment in which the entity operates (its functional currency). Currently, the Group consists of Campine NV, Campine Recycling NV, Campine France sas and Campine recycled Polymers sas. For the purpose of the consolidated financial statements, the results and financial position of each entity are expressed in EUR, which is the functional currency of the company, and the presentation currency for the consolidated financial statements. In preparing the financial statements of the individual entities, transactions in currencies other than the entity\u2019s functional currency (foreign currencies) are recorded at the rates of exchange prevailing on the dates of the transactions.At each balance sheet date, monetary items denominated in foreign currencies are retranslated at the rates prevailing on the balance sheet date. Non-monetary items that are measured in terms of historical cost in a foreign currency remain at historical rate. Exchange differences arising on the settlement of monetary items, and on the retranslation of monetary items, are included in profit or loss for the period (within other operating income/expenses). 5.2.6. Financial instrumentsClassification and measurement of financial assets and financial liabilitiesFinancial assets and financial liabilities are recognised when a group entity becomes a party to the contractual provisions of the instrument.Financial assets and financial liabilities are initially measured at fair value. Transaction costs that are directly attributable to the acquisition or issue of financial assets and financial liabilities (other than financial assets and financial liabilities at fair value through profit or loss) are added to or deducted from the fair value of the financial assets or financial liabilities, as appropriate, on initial recognition. Transaction costs directly attributable to the acquisition of financial assets or financial liabilities at fair value through profit or loss are recognised immediately in profit or loss. Trade receivables, cash and cash equivalents and bank loans are classified and measured at amortised cost under IFRS 9. Lease liabilities are measured in accordance with IFRS 16.Debt instruments that meet the following conditions are subsequently measured at amortised cost:\u2022 The financial asset is held within a business model whose objective is to hold financial assets in order to collect contractual cash flows.\u2022 The contractual terms of the financial asset give rise on specified dates to cash flows that are solely payments of principle and interest on the principal amount outstanding. 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 amortised cost of a financial asset is the amount at which the financial asset is measured at initial recognition minus the principal repayments, plus the cumulative amortization using the effective interest method of any difference between that initial amount and the maturity amount, adjusted for any loss allowance. On the other hand, the gross carrying amount of a financial asset is the amortised cost of a financial asset before adjusting for any loss allowance.Classification and measurement of financial liabilities of the Group has not been modified by the requirements of IFRS 9. All financial liabilities of the Group are subsequently measured at amortised cost using the effective interest rate method.Impairment of financial assets In relation to the impairment of financial assets, IFRS 9 requires an expected credit loss model. The expected credit loss model requires the Group to account for expected credit losses and changes in those expected credit losses at each reporting date to reflect changes in credit risk since initial recognition of the financial assets. Specifically, IFRS 9 requires the Group to recognise a loss allowance for expected credit losses on trade receivables and cash and cash equivalents. The amount of expected credit losses is updated at each reporting date to reflect changes in credit risk since initial recognition of the respective financial instrument.IFRS 9 provides a simplified approach for measuring the loss allowance at an amount equal to lifetime expected credit losses for trade receivables without a significant financing component (short-term trade receivables). The expected credit losses on these financial assets are estimated using a provision matrix based on the Group\u2019s historical credit loss experience adjusted for factors that are specific to the debtors, general economic conditions and an assessment of both the current as well as the forecast direction of conditions at the reporting date, including time value of money where appropriate.All bank balances are assessed for expected credit losses at each reporting date as well.Definition of default The Group considers the following as constituting an event of default for internal credit risk management purposes as historical experience indicates that receivables that meet either of the following criteria are generally not recoverable: \u2022 When there is a breach of financial covenants by the counterparty; or\u2022 Information developed internally or obtained from external sources indicates that the debtor is unlikely to pay its creditors, including the Group, in full (without taking into account any collateral held by the Group) Irrespective of the above analysis, the Group considers that default has occurred when a financial asset is more than 90 days past due unless the Group has reasonable and supportable information to demonstrate that a more lagging default criterion is more appropriate. Credit-impaired financial assets A financial asset is credit-impaired when one or more events that have a detrimental impact on the estimated future cash flows of that financial asset have occurred. Evidence that a financial asset is credit-impaired includes observable data about the following events:\u2022 Significant financial difficulty of the issuer or the borrower.\u2022 A breach of contract, such as a default or past due event.\u2022 The lender(s) of the borrower, for economic or contractual reasons relating to the borrower\u2019s financial difficulty, having granted to the borrower a concessions(s) that the lender(s) would not otherwise consider.\u2022 It is becoming probable that the borrower will enter bankruptcy or other financial reorganisation. or\u2022 The disappearance of an active market for that financial asset because of financial difficulties. Write-off policyThe Group writes off a financial asset when there is information indicating that the counterparty is in severe financial difficulty and there is no realistic prospect of recovery, e.g. when the counterparty has been placed under liquidation or has entered into bankruptcy proceedings, or in the case of trade receivables, when the amounts are over two years past due, whichever occurs sooner. Financial assets written off may still be subject to enforcement activities under the Group\u2019s recovery procedures, taking into account legal advice where appropriate. Any re cover ies mad e ar e re cog nise d i n pr of it o r l osDerivative financial instrumentsThe Group enters into a variety of derivative financial instruments to manage its exposure to commodity price risk.Derivatives are initially recognised at fair value at the date the derivative contracts are entered into and are subsequently remeasured to their fair value at the end of each reporting period. The resulting gain or loss is recognised in profit or loss immediately.Depending on the market situation, in combination with the established purchase and sales contracts, both purchase and sales hedging contracts are used. The remaining volumes are partially offset against long-term financial hedging. 5.2.7. Borrowing costsBorrowing costs are recognised in profit or loss in the period in which they are incurred, unless they are directly attributable to qualifying assets, in which case they are capitalised. 5.2.8. Government grantsCapital grants are presented on a separate line \u201ccapital grants\u201d in the consolidated balance sheet.Government grants are recognised in profit or loss (in other operating income) over the periods necessary to match them with the related costs. Government grants related to later periods are presented in the financial statements as deferred income in a separate section of current liabilities.Since 2022, these are now separately shown..If the government grant relates directly to an investment, it is deducted from the investment costs or taken to the income statement as other debts over the depreciation period of the asset to which it relates. 5.2.9. Retirement benefit costs and termination benefitsFor defined benefit retirement benefit plans, the cost of providing benefits - as well as the defined contribution plans - is determined using the projected unit credit method, with actuarial valuations being carried out at the end of each annual reporting period. Remeasurement, comprising actuarial gains and losses, the effect of the changes to the asset ceiling (if applicable) and the return on plan assets (excluding interest), is reflected immediately in the statement of financial position with a charge or credit recognised in other comprehensive income is reflected immediately in retained earnings and will not be reclassified to profit or loss.Past service cost is recognised in profit or loss in the period of a plan amendment. Net interest is calculated by applying the discount rate at the beginning of the period to the net defined benefit liability or asset. Benefit costs are categorised as follows: \u2022 Service cost (including current service cost, past service cost, as well as gains and losses on curtailments and settlements).\u2022 Net interest expense or income.\u2022 Remeasurement. The Group presents the first 2 components of benefit costs in profit and loss in the line item employee benefits expense. Curtailment gains and losses are accounted for as past service costs. The 3rd component is recognised directly to other comprehensive income..The retirement benefit obligation recognised in the consolidated statement of financial position represents the actual deficit or surplus in the Group\u2019s benefit plans. Any surplus resulting from this calculation is limited to the present value of any economic benefits available in the form of refunds from the plans or reductions in future contributions to the plans.A liability for a termination benefit is recognised at the earlier of when the entity can no longer withdraw the offer of the termination benefit and when the entity recognises any related restructuring costs. 5.2.10. TaxationIncome tax expense represents the sum of the tax currently payable and deferred tax. The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The Group\u2019s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the balance sheet date.Deferred tax is recognised on differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit, and is accounted for using the balance sheet liability method. Deferred tax liabilities are generally recognised for all taxable temporary differences and deferred tax assets are recognised to the extent that it is probable that taxable profits will be available against which deductible temporary differences can be utilised.Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset realised. Deferred tax is charged or credited to profit or loss, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. 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 when they relate to income taxes levied by the same taxation authority and the Group intends to settle its current tax assets and liabilities on a net basis. 5.2.11. Property, plant and equipmentProperty, plant & equipment are stated at cost less accumulated depreciation and any accumulated impairment losses. Properties in the course of construction for production, rental or administrative purposes, are carried at cost, less any recognised impairment loss. Cost includes professional fees and, for qualifying assets, borrowing costs capitalised in accordance with the Group\u2019s accounting policy. Depreciation of these assets commences when the assets are ready for their intended use.Depreciation is charged so as to write off the cost or valuation of assets, other than land and properties under construction, over their estimated useful lives, using the straight-line method. Assets held under finance leases are depreciated over their expected useful lives on the same basis as owned assets or, where shorter, the term of the relevant lease. The gain or loss arising on the disposal or retirement of an item of property, plant and equipment is determined as the difference between the sales proceeds and the carrying amount of the asset and is recognised in profit or loss. 5.2.12. Internally-generated intangible assets \u2013 research and development expenditure Expenditure on research activities is recognised as an expense in the period in which it is incurred. An internally-generated intangible asset arising from the Group\u2019s development is recognised only if all of the following conditions are met: \u2022 An asset is created that can be identified (such as software and new processes).\u2022 It is probable that the asset created will generate future economic benefits and.\u2022 The development cost of the asset can be measured reliably. Internally-generated intangible assets are amortised on a straight-line basis over their estimated useful lives. Where no internally-generated intangible asset can be recognised, development expenditure is charged to profit or loss in the period in which it is incurred. 5.2.13. Patents, trademarks and software purchasedPatents, trademarks and software purchased are measured initially at purchase cost and are amortised on a straight-line basis over their estimated useful lives. 5.2.14. Impairment of tangible and intangible assets excluding goodwillAt each balance sheet date, the Group reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the Group estimates the recoverable amount of the cash generating unit to which the asset belongs.Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset. If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.Where an impairment loss subsequently reverses, the carrying amount of the asset (cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (cash generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase. 5.2.15. InventoriesCost of the raw materials includes both the purchasing price (using the principle of First in First out (\u201cFIFO\u201d)), and the direct purchasing costs, like import duties, transportation and completion costs.Cost of work in progress and finished products comprises all direct and indirect costs necessary that have been incurred in bringing the inventories to their present location condition on balance sheet date. Direct costs include, among others, the cost of the used raw materials and the direct labour costs.Indirect costs include a systematical impute of fixed and variable indirect production costs proceeded from the conversion of raw materials in end products. The impute of fixed indirect production costs is based on the normal capacity of the production facilities.For the determination of the cost, the standard cost price method is used. The standard cost price takes into account the normal use of raw and auxiliary materials, labour, efficiency and capacity. The standard cost price is frequently being evaluated and, if necessary, revised in consideration with the present conditions. The standard cost price of the raw and auxiliary materials, as also the appreciation of it in work in progress and in raw materials, will be revised every month on the basis of the new determined FIFO value of these raw and auxiliary materials.The inventories are valued at the lower of cost, determined as described above, or net realisable value. The net realisable value represents the estimated selling price in normal circumstances less estimated cost of completion and costs to be incurred to realise sales (marketing, selling and distribution). The estimated selling price is based on the LME quotation (London Metal Exchange) for lead. For the antimony price we refer to the current prices in combination with the already contracted purchase and sales contracts.Value reductions are made for the old and slow moving inventories. 5.2.16. Trade receivablesTrade receivables are measured at initial recognition at fair value. Appropriate allowances for estimated irrecoverable amounts are recognised in profit or loss when there is objective evidence that the asset is impaired. The allowance recognised is measured as the difference between the asset\u2019s carrying amount and the present value of estimated future cash flows discounted at the effective interest rate computed at initial recognition. Based on a regular age analysis of the assets, it is determined case per case if a liability for doubtful debtors is needed. FactoringThe Group entered into a factoring agreement with a credit institution, whereby the credit institution pays advances to the Group on trade receivables. As the credit risk of these receivables remains with the Group, not all risks and rewards of the transferred receivables are transferred. As a consequence, the receivables remain on the balance sheet of the Group and the advances received are recorded in the balance sheet under the short term advances on factoring. 5.2.17. Cash and cash equivalentsCash and cash equivalents comprise cash on hand and demand deposits. Cash and cash equivalents are included at amortized value. 5.2.18. Bank borrowingsInterest-bearing bank loans and overdrafts are measured at fair value. They are subsequently valued using the effective interest method. Any difference between the proceeds (net of transaction costs) and the settlement or redemption of borrowings is recognised over the term of the borrowings in accordance with the Group\u2019s accounting policy for borrowing costs (see above). 5.2.19. Trade payablesTrade payables are measured at cost. 5.2.20.ProvisionsProvisions are recognised when the Group has a present obligation as a result of a past event, and it is probable that the Group will be required to settle that obligation. Provisions are measured at the directors\u2019 best estimate of the expenditure required to settle the obligation at the balance sheet date, and are discounted to present value where the effect is material. 5.2.21. Segment reportingOperating segments are reported in a manner consistent with the internal reporting provided to the Chief Executive officer (CEO) assisted by the executive management team.5.29. RELATED PARTY TRANSACTIONS All related party transactions are conducted on a business base and in accordance with all legal requirements and the Corporate Governance Charter.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfMaterialAccountingPolicyInformationExplanatory",
"language": "en",
"entity": "scheme:549300D3GNWVMWZD7E21",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s7_notes__6__15": {
"value": "5.2. SIGNIFICANT ACCOUNTING POLICIESThe financial statements have been prepared based on the International Financial Reporting Standards as adopted by the EU (\u201cIFRS\u201d).",
"dimensions": {
"concept": "ifrs-full:StatementOfIFRSCompliance",
"language": "en",
"entity": "scheme:549300D3GNWVMWZD7E21",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s7_notes__6__19": {
"value": "Following standards and interpretations became applicable for 2023: \u2022 Amendments to IAS 1 Presentation of Financial Statements and IFRS Practice Statement 2: Disclosure of Accounting policies, effective 1 January 2023. The valuation rules were reviewed based on this amendment. \u2022 Amendments to IAS 8 Accounting policies, Changes in Accounting Estimates and Errors: Definition of Accounting Estimates, effective 1 January 2023. \u2022 Amendments to IAS 12 International Tax Reform \u2013 Pillar Two Model Rules. Pillar two legislation has been enacted or sustantively enacted in certain jurisdictions in which the Campine Group is active.However, this legislation does not apply to the Group as the consolidated revenue is lower than \u20ac 750 mio. \u2022 Amendments to IAS 12 Income Taxes: Deferred Tax related to Assets and Liabilities arising from a Single Transaction, effective 1 January 2023. \u2022 Amendments to IFRS 17 Insurance contracts: Initial Application of IFRS 17 and IFRS 9 \u2013 Comparative Information, effective 1 January 2023. \u2022 IFRS 17 Insurance Contracts, effective 1 January 2023. These changes had no significant impact on Campine\u2019s consolidated financial statements. Standards and interpretations issued but not yeteffective on 1 January 2023: \u2022 Amendments to IAS 1 Presentation of Financial Statements \u2013 Classification of Liabilities as Current or Non-current (the 2020 amendments and 2022 amendments), effective 1 January 2024 \u2022 Flows and IFRS 7 Financial Instruments: Disclosures, effective 1 January 2024 \u2022 Amendments to IFRS 16 Leases: Lease Liability in a Sale and Leaseback, effective 1 January 2024With regard to the standards effective from 1 January 2024, the Group is currently analyzing the impact of these amendments on Campine\u2019s consolidated financial statements. With regard to the standards that will become effective from January 1, 2025, the group will start this analysis during the second half of 2024.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfChangesInAccountingPoliciesAccountingEstimatesAndErrorsExplanatory",
"language": "en",
"entity": "scheme:549300D3GNWVMWZD7E21",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s7_notes__6__22": {
"value": "5.2.1. Basis of consolidationThe consolidated financial statements incorporate the financial statements of the company and entities controlled by the company (its subsidiaries). An investor controls an investee when it is exposed, or has rights, to variable returns from its involvement with the investee and has the ability to affect those returns through its power over the investee. The results of subsidiaries acquired or disposed of during the year are included in the financial information from the effective date of acquisition and up to the effective date of disposal, as appropriate. Where necessary, adjustments are made to the financial statements of subsidiaries to bring their accounting policies into line with those used by other members of the Group. All intra-group transactions, balances, income and expenses are eliminated on consolidation.Changes in the Group\u2019s interest in a subsidiary that do not result in a loss of control are accounted for as equity transactions. The carrying amounts of the Group\u2019s interests and the non-controlling interests are adjusted to reflect the changes in their relative interests in the subsidiary.When the Group loses control of a subsidiary, the profit or loss on disposal is calculated as the difference between (i) the aggregate of the fair value of the consideration received and the fair value of any retained interest and (ii) the previous carrying amount of the assets (including goodwill) and liabilities of the subsidiary and any non-controlling interests. Amounts previously recognised in other comprehensive income in relation to the subsidiary are accounted for (i.e. re-classified to profit or loss or transferred directly to retained earnings) in the same manner as would be required if the relevant assets or liabilities were disposed of. The fair value of any investment retained in the former subsidiary at the date when control is lost is regarded as the fair value on initial recognition for subsequent accounting under IFRS 9 Financial Instruments or, when applicable, the cost on initial recognition of an investment in an associate or jointly controlled entity.Non-controlling interests in subsidiaries are identified separately from the Group\u2019s equity therein. The interest of non-controlling shareholders may be initially measured either at fair value or at the non-controlling interests\u2019 proportionate share of the fair value of the acquiree\u2019s identifiable net assets. The choice of measurement basis is made on an acquisition-by-acquisition basis. Subsequent to acquisition, the carrying amount of non-controlling interests is the amount of those interests at initial recognition plus the non-controlling interests\u2019 share of subsequent changes in equity. Total comprehensive income is attributed to non-controlling interests even if this results in the non-controlling interests having a deficit balance.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForTransactionsWithNoncontrollingInterestsExplanatory",
"language": "en",
"entity": "scheme:549300D3GNWVMWZD7E21",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s7_notes__6__21": {
"value": "5.2.1. Basis of consolidationThe consolidated financial statements incorporate the financial statements of the company and entities controlled by the company (its subsidiaries). An investor controls an investee when it is exposed, or has rights, to variable returns from its involvement with the investee and has the ability to affect those returns through its power over the investee. The results of subsidiaries acquired or disposed of during the year are included in the financial information from the effective date of acquisition and up to the effective date of disposal, as appropriate. Where necessary, adjustments are made to the financial statements of subsidiaries to bring their accounting policies into line with those used by other members of the Group. All intra-group transactions, balances, income and expenses are eliminated on consolidation.Changes in the Group\u2019s interest in a subsidiary that do not result in a loss of control are accounted for as equity transactions. The carrying amounts of the Group\u2019s interests and the non-controlling interests are adjusted to reflect the changes in their relative interests in the subsidiary.When the Group loses control of a subsidiary, the profit or loss on disposal is calculated as the difference between (i) the aggregate of the fair value of the consideration received and the fair value of any retained interest and (ii) the previous carrying amount of the assets (including goodwill) and liabilities of the subsidiary and any non-controlling interests. Amounts previously recognised in other comprehensive income in relation to the subsidiary are accounted for (i.e. re-classified to profit or loss or transferred directly to retained earnings) in the same manner as would be required if the relevant assets or liabilities were disposed of. The fair value of any investment retained in the former subsidiary at the date when control is lost is regarded as the fair value on initial recognition for subsequent accounting under IFRS 9 Financial Instruments or, when applicable, the cost on initial recognition of an investment in an associate or jointly controlled entity.Non-controlling interests in subsidiaries are identified separately from the Group\u2019s equity therein. The interest of non-controlling shareholders may be initially measured either at fair value or at the non-controlling interests\u2019 proportionate share of the fair value of the acquiree\u2019s identifiable net assets. The choice of measurement basis is made on an acquisition-by-acquisition basis. Subsequent to acquisition, the carrying amount of non-controlling interests is the amount of those interests at initial recognition plus the non-controlling interests\u2019 share of subsequent changes in equity. Total comprehensive income is attributed to non-controlling interests even if this results in the non-controlling interests having a deficit balance.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForSubsidiariesExplanatory",
"language": "en",
"entity": "scheme:549300D3GNWVMWZD7E21",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s7_notes__6__20": {
"value": "5.2.1. Basis of consolidationThe consolidated financial statements incorporate the financial statements of the company and entities controlled by the company (its subsidiaries). An investor controls an investee when it is exposed, or has rights, to variable returns from its involvement with the investee and has the ability to affect those returns through its power over the investee. The results of subsidiaries acquired or disposed of during the year are included in the financial information from the effective date of acquisition and up to the effective date of disposal, as appropriate. Where necessary, adjustments are made to the financial statements of subsidiaries to bring their accounting policies into line with those used by other members of the Group. All intra-group transactions, balances, income and expenses are eliminated on consolidation.Changes in the Group\u2019s interest in a subsidiary that do not result in a loss of control are accounted for as equity transactions. The carrying amounts of the Group\u2019s interests and the non-controlling interests are adjusted to reflect the changes in their relative interests in the subsidiary.When the Group loses control of a subsidiary, the profit or loss on disposal is calculated as the difference between (i) the aggregate of the fair value of the consideration received and the fair value of any retained interest and (ii) the previous carrying amount of the assets (including goodwill) and liabilities of the subsidiary and any non-controlling interests. Amounts previously recognised in other comprehensive income in relation to the subsidiary are accounted for (i.e. re-classified to profit or loss or transferred directly to retained earnings) in the same manner as would be required if the relevant assets or liabilities were disposed of. The fair value of any investment retained in the former subsidiary at the date when control is lost is regarded as the fair value on initial recognition for subsequent accounting under IFRS 9 Financial Instruments or, when applicable, the cost on initial recognition of an investment in an associate or jointly controlled entity.Non-controlling interests in subsidiaries are identified separately from the Group\u2019s equity therein. The interest of non-controlling shareholders may be initially measured either at fair value or at the non-controlling interests\u2019 proportionate share of the fair value of the acquiree\u2019s identifiable net assets. The choice of measurement basis is made on an acquisition-by-acquisition basis. Subsequent to acquisition, the carrying amount of non-controlling interests is the amount of those interests at initial recognition plus the non-controlling interests\u2019 share of subsequent changes in equity. Total comprehensive income is attributed to non-controlling interests even if this results in the non-controlling interests having a deficit balance.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfBasisOfConsolidationExplanatory",
"language": "en",
"entity": "scheme:549300D3GNWVMWZD7E21",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s7_notes__6__24-1": {
"value": "5.2.2. Business combinationsThe acquisition of subsidiaries is accounted for using the purchase method. The cost of the acquisition is measured at the aggregate of the fair values, at the date of acquisition, of assets given, liabilities incurred or assumed, and equity instruments issued by the Group in exchange for control of the acquiree. The acquiree\u2019s identifiable assets, liabilities and contingent liabilities that meet the conditions for recognition under IFRS 3 (\u201cBusiness combinations\u201d) are recognised at their fair values at the acquisition date, except for noncurrent assets (or disposal groups) that are classified as held for sale, which are recognised and measured at fair value less costs to sell. Acquisition-related costs are recognised in profit or loss as incurred. Where applicable, the consideration for the acquisition includes any asset or liability resulting from a contingent consideration arrangement, measured at its acquisition-date fair value. Subsequent changes in such fair values are adjusted against the cost of acquisition where they qualify as measurement period adjustments (see below). All other subsequent changes in the fair value of contingent consideration classified as an asset or liability are accounted for in accordance with relevant IFRS.Changes in the fair value of contingent consideration classified as equity are not recognised.Where a business combination is achieved in stages, the Group\u2019s previously held interests in the acquired entity are remeasured to fair value at the acquisition date (i.e. the date the Group attains control) and the resulting gain or loss, if any, is recognised in profit or loss. Amounts arising from interests in the acquire prior to the acquisition date that have previously been recognised in other comprehensive income are reclassified to profit or loss, where such treatment would be appropriate if that interest were disposed of. If the fair value of the net assets acquired is in excess of the aggregate consideration transferred, the Group re-assesses whether it has correctly identified all of the assets acquired and all of the liabilities assumed and reviews the procedures used to measure the amounts to be recognised at the acquisition date.If the reassessment still results in an excess of the fair value of net assets acquired over the aggregate consideration transferred, then the gain is recognised in profit or loss.Goodwill Goodwill arising on acquisition is recognised as an asset and initially measured at cost, being the excess of the cost of the business combination over the group\u2019s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities recognised. If, after reassessment, the group\u2019s interest in the net fair value of the acquiree\u2019s identifiable assets, liabilities and contingent liabilities exceeds the cost of the business combination, the excess (negative consolidation difference) is recognised immediately in profit or loss. The interest of minority shareholders in the acquire is initially measured at the minority\u2019s proportion of the net fair value of the assets, liabilities and contingent liabilities recognised.5.2.12. Internally-generated intangible assets \u2013 research and development expenditure Expenditure on research activities is recognised as an expense in the period in which it is incurred. An internally-generated intangible asset arising from the Group\u2019s development is recognised only if all of the following conditions are met: \u2022 An asset is created that can be identified (such as software and new processes).\u2022 It is probable that the asset created will generate future economic benefits and.\u2022 The development cost of the asset can be measured reliably. Internally-generated intangible assets are amortised on a straight-line basis over their estimated useful lives. Where no internally-generated intangible asset can be recognised, development expenditure is charged to profit or loss in the period in which it is incurred.5.2.13. Patents, trademarks and software purchasedPatents, trademarks and software purchased are measured initially at purchase cost and are amortised on a straight-line basis over their estimated useful lives.5.2.14. Impairment of tangible and intangible assets excluding goodwillAt each balance sheet date, the Group reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the Group estimates the recoverable amount of the cash generating unit to which the asset belongs.Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset. If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.Where an impairment loss subsequently reverses, the carrying amount of the asset (cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (cash generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForIntangibleAssetsAndGoodwillExplanatory",
"language": "en",
"entity": "scheme:549300D3GNWVMWZD7E21",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s7_notes__6__23": {
"value": "5.2.2. Business combinationsThe acquisition of subsidiaries is accounted for using the purchase method. The cost of the acquisition is measured at the aggregate of the fair values, at the date of acquisition, of assets given, liabilities incurred or assumed, and equity instruments issued by the Group in exchange for control of the acquiree. The acquiree\u2019s identifiable assets, liabilities and contingent liabilities that meet the conditions for recognition under IFRS 3 (\u201cBusiness combinations\u201d) are recognised at their fair values at the acquisition date, except for noncurrent assets (or disposal groups) that are classified as held for sale, which are recognised and measured at fair value less costs to sell. Acquisition-related costs are recognised in profit or loss as incurred. Where applicable, the consideration for the acquisition includes any asset or liability resulting from a contingent consideration arrangement, measured at its acquisition-date fair value. Subsequent changes in such fair values are adjusted against the cost of acquisition where they qualify as measurement period adjustments (see below). All other subsequent changes in the fair value of contingent consideration classified as an asset or liability are accounted for in accordance with relevant IFRS.Changes in the fair value of contingent consideration classified as equity are not recognised.Where a business combination is achieved in stages, the Group\u2019s previously held interests in the acquired entity are remeasured to fair value at the acquisition date (i.e. the date the Group attains control) and the resulting gain or loss, if any, is recognised in profit or loss. Amounts arising from interests in the acquire prior to the acquisition date that have previously been recognised in other comprehensive income are reclassified to profit or loss, where such treatment would be appropriate if that interest were disposed of. If the fair value of the net assets acquired is in excess of the aggregate consideration transferred, the Group re-assesses whether it has correctly identified all of the assets acquired and all of the liabilities assumed and reviews the procedures used to measure the amounts to be recognised at the acquisition date.If the reassessment still results in an excess of the fair value of net assets acquired over the aggregate consideration transferred, then the gain is recognised in profit or loss.Goodwill Goodwill arising on acquisition is recognised as an asset and initially measured at cost, being the excess of the cost of the business combination over the group\u2019s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities recognised. If, after reassessment, the group\u2019s interest in the net fair value of the acquiree\u2019s identifiable assets, liabilities and contingent liabilities exceeds the cost of the business combination, the excess (negative consolidation difference) is recognised immediately in profit or loss. The interest of minority shareholders in the acquire is initially measured at the minority\u2019s proportion of the net fair value of the assets, liabilities and contingent liabilities recognised.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForBusinessCombinationsAndGoodwillExplanatory",
"language": "en",
"entity": "scheme:549300D3GNWVMWZD7E21",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s7_notes__6__25": {
"value": "Goodwill Goodwill arising on acquisition is recognised as an asset and initially measured at cost, being the excess of the cost of the business combination over the group\u2019s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities recognised. If, after reassessment, the group\u2019s interest in the net fair value of the acquiree\u2019s identifiable assets, liabilities and contingent liabilities exceeds the cost of the business combination, the excess (negative consolidation difference) is recognised immediately in profit or loss. The interest of minority shareholders in the acquire is initially measured at the minority\u2019s proportion of the net fair value of the assets, liabilities and contingent liabilities recognised.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForGoodwillExplanatory",
"language": "en",
"entity": "scheme:549300D3GNWVMWZD7E21",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s7_notes__6__26": {
"value": "5.2.3. Revenue from Contracts with Customers IFRS 15 establishes a five-step model to account for revenue arising from contracts with customers:\u2022 Identify the contract.\u2022 Identify the performance obligations.\u2022 Determine the transaction price.\u2022 Allocate the transaction price to the performance obligations in the contract.\u2022 Recognise revenue when or as the Group satisfies a performance obligation. Under IFRS 15, revenue is recognised at an amount that reflects the consideration to which an entity expects to be entitled in exchange for transferring goods or services to a customer.Nature of sales transactions: The Group is active in the metal business and thus contracts with customers generally concern the sale of these metal products, which qualify as separate performance obligations. Ancillary services, such as transport, are not material. As a result, revenue recognition generally occurs at a point in time, when control of the products is transferred to the customer, generally on delivery of the goods and considering the underlying incoterm.The Group is not involved in transactions and/or contracts including volume rebates, trade discounts, (ancillary) services, customer assistance services or bundled sales contracts of a material nature. Campine works with direct sales people for most of its sales in Europe and with distributors and agents in the rest of the world. The direct sales/purchasing employees are on Campine\u2019s payroll or work on a self-employed basis with a service contract. The distributors and agents are remunerated through commission, which is then also part of the purchase costs.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForRecognitionOfRevenue",
"language": "en",
"entity": "scheme:549300D3GNWVMWZD7E21",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s7_notes__6__28": {
"value": "5.2.4. LeasesDefinition of \u2018lease\u2019A contract is or contains a lease if it conveys a right to control the use of an identified asset for a period of time in exchange for a consideration. To determine whether a lease confers the right to control use of a determined asset for a determined period of time, the entity must appreciate whether, throughout the period of use, it has the right to:\u2022 Obtain substantially all of the economic benefits from the use of the asset.\u2022 Direct the use of the asset. To determine the duration of the leases, any options for renewal or termination have been considered as required by IFRS 16 taking into account the probability of exercising the option and only if it is under the control of the lessee.At the start of the lease, the lessee recognises a right-of-use asset and a lease liability. For leases with a maximum duration of 12 months or leases of assets with low value, Campine applies the practical exemption in IFRS 16. Hence, these leases are not presented on the balance sheet.Right-of-use assetsThe Group recognises right-of-use assets on the commencement date of the contract, i.e. the date on which the asset becomes available for use. These assets are valued at the initial cost of the lease liability minus depreciation and any impairment, adjusted to take into account any revaluations of the lease liability. The initial cost of the right-of-use assets includes the present value of the lease liability, the initial costs incurred by the lessee, rent payments made on the start date or before that date, minus any incentives obtained by the lessee. These assets are depreciated over the estimated lifetime of the underlying asset or over the duration of the contract if this period is shorter, unless the Group is sufficiently certain of obtaining ownership of the asset at the end of the contract. Right-of-use assets are presented separately from other assets as a different line under non-current assets.Lease liabilitiesThe lease liability is valued at the present value of the rent payments that have not yet been paid. The present value of the rent payments must be calculated using the interest rate implicit in the lease if it is possible to determine that rate. If not, the lessee must use its incremental borrowing rate.The incremental borrowing rate is the interest rate that the lessee would have to pay to borrow over a similar term, and with a similar security, the funds necessary to obtain an asset of similar value to the right-of-use asset in a similar economic environment.Over the duration of the contract, the lessee values the lease obligation as follows: \u2022 By increasing the carrying amount to reflect the interest on the lease liabilities.\u2022 By reducing the carrying amount to reflect the rent payments made.\u2022 By revaluing the carrying amount to reflect the new value of the lease obligation or modifications to the lease. Lease liabilities are presented in a separate line on the balance sheet. Payments for the capital reimbursement and the interests are presented under financing activities in the statement of cash flows.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForLeasesExplanatory",
"language": "en",
"entity": "scheme:549300D3GNWVMWZD7E21",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s7_notes__6__27-1": {
"value": "Right-of-use assetsThe Group recognises right-of-use assets on the commencement date of the contract, i.e. the date on which the asset becomes available for use. These assets are valued at the initial cost of the lease liability minus depreciation and any impairment, adjusted to take into account any revaluations of the lease liability. The initial cost of the right-of-use assets includes the present value of the lease liability, the initial costs incurred by the lessee, rent payments made on the start date or before that date, minus any incentives obtained by the lessee. These assets are depreciated over the estimated lifetime of the underlying asset or over the duration of the contract if this period is shorter, unless the Group is sufficiently certain of obtaining ownership of the asset at the end of the contract. Right-of-use assets are presented separately from other assets as a different line under non-current assets.Depreciation is charged so as to write off the cost or valuation of assets, other than land and properties under construction, over their estimated useful lives, using the straight-line method. Assets held under finance leases are depreciated over their expected useful lives on the same basis as owned assets or, where shorter, the term of the relevant leaseInternally-generated intangible assets are amortised on a straight-line basis over their estimated useful lives. Where no internally-generated intangible asset can be recognised, development expenditure is charged to profit or loss in the period in which it is incurred.5.2.13. Patents, trademarks and software purchasedPatents, trademarks and software purchased are measured initially at purchase cost and are amortised on a straight-line basis over their estimated useful lives.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForDepreciationExpenseExplanatory",
"language": "en",
"entity": "scheme:549300D3GNWVMWZD7E21",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s7_notes__6__30": {
"value": "5.2.5. Foreign currenciesThe individual financial statements of each group entity are presented in the currency of the primary economic environment in which the entity operates (its functional currency). Currently, the Group consists of Campine NV, Campine Recycling NV, Campine France sas and Campine recycled Polymers sas. For the purpose of the consolidated financial statements, the results and financial position of each entity are expressed in EUR, which is the functional currency of the company, and the presentation currency for the consolidated financial statements. In preparing the financial statements of the individual entities, transactions in currencies other than the entity\u2019s functional currency (foreign currencies) are recorded at the rates of exchange prevailing on the dates of the transactions.At each balance sheet date, monetary items denominated in foreign currencies are retranslated at the rates prevailing on the balance sheet date. Non-monetary items that are measured in terms of historical cost in a foreign currency remain at historical rate. Exchange differences arising on the settlement of monetary items, and on the retranslation of monetary items, are included in profit or loss for the period (within other operating income/expenses).",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForFunctionalCurrencyExplanatory",
"language": "en",
"entity": "scheme:549300D3GNWVMWZD7E21",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s7_notes__6__29": {
"value": "5.2.5. Foreign currenciesThe individual financial statements of each group entity are presented in the currency of the primary economic environment in which the entity operates (its functional currency). Currently, the Group consists of Campine NV, Campine Recycling NV, Campine France sas and Campine recycled Polymers sas. For the purpose of the consolidated financial statements, the results and financial position of each entity are expressed in EUR, which is the functional currency of the company, and the presentation currency for the consolidated financial statements. In preparing the financial statements of the individual entities, transactions in currencies other than the entity\u2019s functional currency (foreign currencies) are recorded at the rates of exchange prevailing on the dates of the transactions.At each balance sheet date, monetary items denominated in foreign currencies are retranslated at the rates prevailing on the balance sheet date. Non-monetary items that are measured in terms of historical cost in a foreign currency remain at historical rate. Exchange differences arising on the settlement of monetary items, and on the retranslation of monetary items, are included in profit or loss for the period (within other operating income/expenses).",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory",
"language": "en",
"entity": "scheme:549300D3GNWVMWZD7E21",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s7_notes__6__36": {
"value": "5.2.6. Financial instrumentsClassification and measurement of financial assets and financial liabilitiesFinancial assets and financial liabilities are recognised when a group entity becomes a party to the contractual provisions of the instrument.Financial assets and financial liabilities are initially measured at fair value. Transaction costs that are directly attributable to the acquisition or issue of financial assets and financial liabilities (other than financial assets and financial liabilities at fair value through profit or loss) are added to or deducted from the fair value of the financial assets or financial liabilities, as appropriate, on initial recognition. Transaction costs directly attributable to the acquisition of financial assets or financial liabilities at fair value through profit or loss are recognised immediately in profit or loss. Trade receivables, cash and cash equivalents and bank loans are classified and measured at amortised cost under IFRS 9.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForLoansAndReceivablesExplanatory",
"language": "en",
"entity": "scheme:549300D3GNWVMWZD7E21",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s7_notes__6__33-1": {
"value": "5.2.6. Financial instrumentsClassification and measurement of financial assets and financial liabilitiesFinancial assets and financial liabilities are recognised when a group entity becomes a party to the contractual provisions of the instrument.Financial assets and financial liabilities are initially measured at fair value. Transaction costs that are directly attributable to the acquisition or issue of financial assets and financial liabilities (other than financial assets and financial liabilities at fair value through profit or loss) are added to or deducted from the fair value of the financial assets or financial liabilities, as appropriate, on initial recognition. Transaction costs directly attributable to the acquisition of financial assets or financial liabilities at fair value through profit or loss are recognised immediately in profit or loss. Trade receivables, cash and cash equivalents and bank loans are classified and measured at amortised cost under IFRS 9. Lease liabilities are measured in accordance with IFRS 16.Debt instruments that meet the following conditions are subsequently measured at amortised cost:\u2022 The financial asset is held within a business model whose objective is to hold financial assets in order to collect contractual cash flows.\u2022 The contractual terms of the financial asset give rise on specified dates to cash flows that are solely payments of principle and interest on the principal amount outstanding. 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 amortised cost of a financial asset is the amount at which the financial asset is measured at initial recognition minus the principal repayments, plus the cumulative amortization using the effective interest method of any difference between that initial amount and the maturity amount, adjusted for any loss allowance. On the other hand, the gross carrying amount of a financial asset is the amortised cost of a financial asset before adjusting for any loss allowance.Classification and measurement of financial liabilities of the Group has not been modified by the requirements of IFRS 9. All financial liabilities of the Group are subsequently measured at amortised cost using the effective interest rate method.Impairment of financial assets In relation to the impairment of financial assets, IFRS 9 requires an expected credit loss model. The expected credit loss model requires the Group to account for expected credit losses and changes in those expected credit losses at each reporting date to reflect changes in credit risk since initial recognition of the financial assets. Specifically, IFRS 9 requires the Group to recognise a loss allowance for expected credit losses on trade receivables and cash and cash equivalents. The amount of expected credit losses is updated at each reporting date to reflect changes in credit risk since initial recognition of the respective financial instrument.IFRS 9 provides a simplified approach for measuring the loss allowance at an amount equal to lifetime expected credit losses for trade receivables without a significant financing component (short-term trade receivables). The expected credit losses on these financial assets are estimated using a provision matrix based on the Group\u2019s historical credit loss experience adjusted for factors that are specific to the debtors, general economic conditions and an assessment of both the current as well as the forecast direction of conditions at the reporting date, including time value of money where appropriate.All bank balances are assessed for expected credit losses at each reporting date as well.Definition of default The Group considers the following as constituting an event of default for internal credit risk management purposes as historical experience indicates that receivables that meet either of the following criteria are generally not recoverable: \u2022 When there is a breach of financial covenants by the counterparty; or\u2022 Information developed internally or obtained from external sources indicates that the debtor is unlikely to pay its creditors, including the Group, in full (without taking into account any collateral held by the Group) Irrespective of the above analysis, the Group considers that default has occurred when a financial asset is more than 90 days past due unless the Group has reasonable and supportable information to demonstrate that a more lagging default criterion is more appropriate. Credit-impaired financial assets A financial asset is credit-impaired when one or more events that have a detrimental impact on the estimated future cash flows of that financial asset have occurred. Evidence that a financial asset is credit-impaired includes observable data about the following events:\u2022 Significant financial difficulty of the issuer or the borrower.\u2022 A breach of contract, such as a default or past due event.\u2022 The lender(s) of the borrower, for economic or contractual reasons relating to the borrower\u2019s financial difficulty, having granted to the borrower a concessions(s) that the lender(s) would not otherwise consider.\u2022 It is becoming probable that the borrower will enter bankruptcy or other financial reorganisation. or\u2022 The disappearance of an active market for that financial asset because of financial difficulties. Write-off policyThe Group writes off a financial asset when there is information indicating that the counterparty is in severe financial difficulty and there is no realistic prospect of recovery, e.g. when the counterparty has been placed under liquidation or has entered into bankruptcy proceedings, or in the case of trade receivables, when the amounts are over two years past due, whichever occurs sooner. Financial assets written off may still be subject to enforcement activities under the Group\u2019s recovery procedures, taking into account legal advice where appropriate. Any re cover ies mad e ar e re cog nise d i n pr of it o r l osDerivative financial instrumentsThe Group enters into a variety of derivative financial instruments to manage its exposure to commodity price risk.Derivatives are initially recognised at fair value at the date the derivative contracts are entered into and are subsequently remeasured to their fair value at the end of each reporting period. The resulting gain or loss is recognised in profit or loss immediately.Depending on the market situation, in combination with the established purchase and sales contracts, both purchase and sales hedging contracts are used. The remaining volumes are partially offset against long-term financial hedging.5.2.19. Trade payablesTrade payables are measured at cost.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForTradeAndOtherPayablesExplanatory",
"language": "en",
"entity": "scheme:549300D3GNWVMWZD7E21",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s7_notes__6__32-1": {
"value": "5.2.6. Financial instrumentsClassification and measurement of financial assets and financial liabilitiesFinancial assets and financial liabilities are recognised when a group entity becomes a party to the contractual provisions of the instrument.Financial assets and financial liabilities are initially measured at fair value. Transaction costs that are directly attributable to the acquisition or issue of financial assets and financial liabilities (other than financial assets and financial liabilities at fair value through profit or loss) are added to or deducted from the fair value of the financial assets or financial liabilities, as appropriate, on initial recognition. Transaction costs directly attributable to the acquisition of financial assets or financial liabilities at fair value through profit or loss are recognised immediately in profit or loss. Trade receivables, cash and cash equivalents and bank loans are classified and measured at amortised cost under IFRS 9. Lease liabilities are measured in accordance with IFRS 16.Debt instruments that meet the following conditions are subsequently measured at amortised cost:\u2022 The financial asset is held within a business model whose objective is to hold financial assets in order to collect contractual cash flows.\u2022 The contractual terms of the financial asset give rise on specified dates to cash flows that are solely payments of principle and interest on the principal amount outstanding. 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 amortised cost of a financial asset is the amount at which the financial asset is measured at initial recognition minus the principal repayments, plus the cumulative amortization using the effective interest method of any difference between that initial amount and the maturity amount, adjusted for any loss allowance. On the other hand, the gross carrying amount of a financial asset is the amortised cost of a financial asset before adjusting for any loss allowance.Classification and measurement of financial liabilities of the Group has not been modified by the requirements of IFRS 9. All financial liabilities of the Group are subsequently measured at amortised cost using the effective interest rate method.Impairment of financial assets In relation to the impairment of financial assets, IFRS 9 requires an expected credit loss model. The expected credit loss model requires the Group to account for expected credit losses and changes in those expected credit losses at each reporting date to reflect changes in credit risk since initial recognition of the financial assets. Specifically, IFRS 9 requires the Group to recognise a loss allowance for expected credit losses on trade receivables and cash and cash equivalents. The amount of expected credit losses is updated at each reporting date to reflect changes in credit risk since initial recognition of the respective financial instrument.IFRS 9 provides a simplified approach for measuring the loss allowance at an amount equal to lifetime expected credit losses for trade receivables without a significant financing component (short-term trade receivables). The expected credit losses on these financial assets are estimated using a provision matrix based on the Group\u2019s historical credit loss experience adjusted for factors that are specific to the debtors, general economic conditions and an assessment of both the current as well as the forecast direction of conditions at the reporting date, including time value of money where appropriate.All bank balances are assessed for expected credit losses at each reporting date as well.Definition of default The Group considers the following as constituting an event of default for internal credit risk management purposes as historical experience indicates that receivables that meet either of the following criteria are generally not recoverable: \u2022 When there is a breach of financial covenants by the counterparty; or\u2022 Information developed internally or obtained from external sources indicates that the debtor is unlikely to pay its creditors, including the Group, in full (without taking into account any collateral held by the Group) Irrespective of the above analysis, the Group considers that default has occurred when a financial asset is more than 90 days past due unless the Group has reasonable and supportable information to demonstrate that a more lagging default criterion is more appropriate. Credit-impaired financial assets A financial asset is credit-impaired when one or more events that have a detrimental impact on the estimated future cash flows of that financial asset have occurred. Evidence that a financial asset is credit-impaired includes observable data about the following events:\u2022 Significant financial difficulty of the issuer or the borrower.\u2022 A breach of contract, such as a default or past due event.\u2022 The lender(s) of the borrower, for economic or contractual reasons relating to the borrower\u2019s financial difficulty, having granted to the borrower a concessions(s) that the lender(s) would not otherwise consider.\u2022 It is becoming probable that the borrower will enter bankruptcy or other financial reorganisation. or\u2022 The disappearance of an active market for that financial asset because of financial difficulties. Write-off policyThe Group writes off a financial asset when there is information indicating that the counterparty is in severe financial difficulty and there is no realistic prospect of recovery, e.g. when the counterparty has been placed under liquidation or has entered into bankruptcy proceedings, or in the case of trade receivables, when the amounts are over two years past due, whichever occurs sooner. Financial assets written off may still be subject to enforcement activities under the Group\u2019s recovery procedures, taking into account legal advice where appropriate. Any re cover ies mad e ar e re cog nise d i n pr of it o r l osDerivative financial instrumentsThe Group enters into a variety of derivative financial instruments to manage its exposure to commodity price risk.Derivatives are initially recognised at fair value at the date the derivative contracts are entered into and are subsequently remeasured to their fair value at the end of each reporting period. The resulting gain or loss is recognised in profit or loss immediately.Depending on the market situation, in combination with the established purchase and sales contracts, both purchase and sales hedging contracts are used. The remaining volumes are partially offset against long-term financial hedging.5.2.18. Bank borrowingsInterest-bearing bank loans and overdrafts are measured at fair value. They are subsequently valued using the effective interest method. Any difference between the proceeds (net of transaction costs) and the settlement or redemption of borrowings is recognised over the term of the borrowings in accordance with the Group\u2019s accounting policy for borrowing costs (see above).5.2.19. Trade payablesTrade payables are measured at cost.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialLiabilitiesExplanatory",
"language": "en",
"entity": "scheme:549300D3GNWVMWZD7E21",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s7_notes__6__31-1": {
"value": "5.2.6. Financial instrumentsClassification and measurement of financial assets and financial liabilitiesFinancial assets and financial liabilities are recognised when a group entity becomes a party to the contractual provisions of the instrument.Financial assets and financial liabilities are initially measured at fair value. Transaction costs that are directly attributable to the acquisition or issue of financial assets and financial liabilities (other than financial assets and financial liabilities at fair value through profit or loss) are added to or deducted from the fair value of the financial assets or financial liabilities, as appropriate, on initial recognition. Transaction costs directly attributable to the acquisition of financial assets or financial liabilities at fair value through profit or loss are recognised immediately in profit or loss. Trade receivables, cash and cash equivalents and bank loans are classified and measured at amortised cost under IFRS 9. Lease liabilities are measured in accordance with IFRS 16.Debt instruments that meet the following conditions are subsequently measured at amortised cost:\u2022 The financial asset is held within a business model whose objective is to hold financial assets in order to collect contractual cash flows.\u2022 The contractual terms of the financial asset give rise on specified dates to cash flows that are solely payments of principle and interest on the principal amount outstanding. 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 amortised cost of a financial asset is the amount at which the financial asset is measured at initial recognition minus the principal repayments, plus the cumulative amortization using the effective interest method of any difference between that initial amount and the maturity amount, adjusted for any loss allowance. On the other hand, the gross carrying amount of a financial asset is the amortised cost of a financial asset before adjusting for any loss allowance.Classification and measurement of financial liabilities of the Group has not been modified by the requirements of IFRS 9. All financial liabilities of the Group are subsequently measured at amortised cost using the effective interest rate method.Impairment of financial assets In relation to the impairment of financial assets, IFRS 9 requires an expected credit loss model. The expected credit loss model requires the Group to account for expected credit losses and changes in those expected credit losses at each reporting date to reflect changes in credit risk since initial recognition of the financial assets. Specifically, IFRS 9 requires the Group to recognise a loss allowance for expected credit losses on trade receivables and cash and cash equivalents. The amount of expected credit losses is updated at each reporting date to reflect changes in credit risk since initial recognition of the respective financial instrument.IFRS 9 provides a simplified approach for measuring the loss allowance at an amount equal to lifetime expected credit losses for trade receivables without a significant financing component (short-term trade receivables). The expected credit losses on these financial assets are estimated using a provision matrix based on the Group\u2019s historical credit loss experience adjusted for factors that are specific to the debtors, general economic conditions and an assessment of both the current as well as the forecast direction of conditions at the reporting date, including time value of money where appropriate.All bank balances are assessed for expected credit losses at each reporting date as well.Definition of default The Group considers the following as constituting an event of default for internal credit risk management purposes as historical experience indicates that receivables that meet either of the following criteria are generally not recoverable: \u2022 When there is a breach of financial covenants by the counterparty; or\u2022 Information developed internally or obtained from external sources indicates that the debtor is unlikely to pay its creditors, including the Group, in full (without taking into account any collateral held by the Group) Irrespective of the above analysis, the Group considers that default has occurred when a financial asset is more than 90 days past due unless the Group has reasonable and supportable information to demonstrate that a more lagging default criterion is more appropriate. Credit-impaired financial assets A financial asset is credit-impaired when one or more events that have a detrimental impact on the estimated future cash flows of that financial asset have occurred. Evidence that a financial asset is credit-impaired includes observable data about the following events:\u2022 Significant financial difficulty of the issuer or the borrower.\u2022 A breach of contract, such as a default or past due event.\u2022 The lender(s) of the borrower, for economic or contractual reasons relating to the borrower\u2019s financial difficulty, having granted to the borrower a concessions(s) that the lender(s) would not otherwise consider.\u2022 It is becoming probable that the borrower will enter bankruptcy or other financial reorganisation. or\u2022 The disappearance of an active market for that financial asset because of financial difficulties. Write-off policyThe Group writes off a financial asset when there is information indicating that the counterparty is in severe financial difficulty and there is no realistic prospect of recovery, e.g. when the counterparty has been placed under liquidation or has entered into bankruptcy proceedings, or in the case of trade receivables, when the amounts are over two years past due, whichever occurs sooner. Financial assets written off may still be subject to enforcement activities under the Group\u2019s recovery procedures, taking into account legal advice where appropriate. Any re cover ies mad e ar e re cog nise d i n pr of it o r l osDerivative financial instrumentsThe Group enters into a variety of derivative financial instruments to manage its exposure to commodity price risk.Derivatives are initially recognised at fair value at the date the derivative contracts are entered into and are subsequently remeasured to their fair value at the end of each reporting period. The resulting gain or loss is recognised in profit or loss immediately.Depending on the market situation, in combination with the established purchase and sales contracts, both purchase and sales hedging contracts are used. The remaining volumes are partially offset against long-term financial hedging.5.2.16. Trade receivablesTrade receivables are measured at initial recognition at fair value. Appropriate allowances for estimated irrecoverable amounts are recognised in profit or loss when there is objective evidence that the asset is impaired. The allowance recognised is measured as the difference between the asset\u2019s carrying amount and the present value of estimated future cash flows discounted at the effective interest rate computed at initial recognition. Based on a regular age analysis of the assets, it is determined case per case if a liability for doubtful debtors is needed. FactoringThe Group entered into a factoring agreement with a credit institution, whereby the credit institution pays advances to the Group on trade receivables. As the credit risk of these receivables remains with the Group, not all risks and rewards of the transferred receivables are transferred. As a consequence, the receivables remain on the balance sheet of the Group and the advances received are recorded in the balance sheet under the short term advances on factoring.5.2.17. Cash and cash equivalentsCash and cash equivalents comprise cash on hand and demand deposits. Cash and cash equivalents are included at amortized value.5.2.18. Bank borrowingsInterest-bearing bank loans and overdrafts are measured at fair value. They are subsequently valued using the effective interest method. Any difference between the proceeds (net of transaction costs) and the settlement or redemption of borrowings is recognised over the term of the borrowings in accordance with the Group\u2019s accounting policy for borrowing costs (see above).5.2.19. Trade payablesTrade payables are measured at cost.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory",
"language": "en",
"entity": "scheme:549300D3GNWVMWZD7E21",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s7_notes__6__38-1": {
"value": "Impairment of financial assets In relation to the impairment of financial assets, IFRS 9 requires an expected credit loss model. The expected credit loss model requires the Group to account for expected credit losses and changes in those expected credit losses at each reporting date to reflect changes in credit risk since initial recognition of the financial assets.5.2.14. Impairment of tangible and intangible assets excluding goodwillAt each balance sheet date, the Group reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the Group estimates the recoverable amount of the cash generating unit to which the asset belongs.Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset. If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.Where an impairment loss subsequently reverses, the carrying amount of the asset (cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (cash generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.The inventories are valued at the lower of cost, determined as described above, or net realisable value. The net realisable value represents the estimated selling price in normal circumstances less estimated cost of completion and costs to be incurred to realise sales (marketing, selling and distribution). The estimated selling price is based on the LME quotation (London Metal Exchange) for lead. For the antimony price we refer to the current prices in combination with the already contracted purchase and sales contracts.Value reductions are made for the old and slow moving inventories.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfAssetsExplanatory",
"language": "en",
"entity": "scheme:549300D3GNWVMWZD7E21",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s7_notes__6__34": {
"value": "Impairment of financial assets In relation to the impairment of financial assets, IFRS 9 requires an expected credit loss model. The expected credit loss model requires the Group to account for expected credit losses and changes in those expected credit losses at each reporting date to reflect changes in credit risk since initial recognition of the financial assets. Specifically, IFRS 9 requires the Group to recognise a loss allowance for expected credit losses on trade receivables and cash and cash equivalents. The amount of expected credit losses is updated at each reporting date to reflect changes in credit risk since initial recognition of the respective financial instrument.IFRS 9 provides a simplified approach for measuring the loss allowance at an amount equal to lifetime expected credit losses for trade receivables without a significant financing component (short-term trade receivables). The expected credit losses on these financial assets are estimated using a provision matrix based on the Group\u2019s historical credit loss experience adjusted for factors that are specific to the debtors, general economic conditions and an assessment of both the current as well as the forecast direction of conditions at the reporting date, including time value of money where appropriate.All bank balances are assessed for expected credit losses at each reporting date as well.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfFinancialAssetsExplanatory",
"language": "en",
"entity": "scheme:549300D3GNWVMWZD7E21",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s7_notes__6__37": {
"value": "Derivative financial instrumentsThe Group enters into a variety of derivative financial instruments to manage its exposure to commodity price risk.Derivatives are initially recognised at fair value at the date the derivative contracts are entered into and are subsequently remeasured to their fair value at the end of each reporting period. The resulting gain or loss is recognised in profit or loss immediately.Depending on the market situation, in combination with the established purchase and sales contracts, both purchase and sales hedging contracts are used. The remaining volumes are partially offset against long-term financial hedging.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForDerivativeFinancialInstrumentsAndHedgingExplanatory",
"language": "en",
"entity": "scheme:549300D3GNWVMWZD7E21",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s7_notes__6__35": {
"value": "Derivative financial instrumentsThe Group enters into a variety of derivative financial instruments to manage its exposure to commodity price risk.Derivatives are initially recognised at fair value at the date the derivative contracts are entered into and are subsequently remeasured to their fair value at the end of each reporting period. The resulting gain or loss is recognised in profit or loss immediately.Depending on the market situation, in combination with the established purchase and sales contracts, both purchase and sales hedging contracts are used. The remaining volumes are partially offset against long-term financial hedging.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForDerivativeFinancialInstrumentsExplanatory",
"language": "en",
"entity": "scheme:549300D3GNWVMWZD7E21",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s7_notes__6__41": {
"value": "5.2.7. Borrowing costsBorrowing costs are recognised in profit or loss in the period in which they are incurred, unless they are directly attributable to qualifying assets, in which case they are capitalised.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForFinanceCostsExplanatory",
"language": "en",
"entity": "scheme:549300D3GNWVMWZD7E21",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s7_notes__6__40-1": {
"value": "5.2.7. Borrowing costsBorrowing costs are recognised in profit or loss in the period in which they are incurred, unless they are directly attributable to qualifying assets, in which case they are capitalised.5.2.12. Internally-generated intangible assets \u2013 research and development expenditure Expenditure on research activities is recognised as an expense in the period in which it is incurred. An internally-generated intangible asset arising from the Group\u2019s development is recognised only if all of the following conditions are met: \u2022 An asset is created that can be identified (such as software and new processes).\u2022 It is probable that the asset created will generate future economic benefits and.\u2022 The development cost of the asset can be measured reliably. Internally-generated intangible assets are amortised on a straight-line basis over their estimated useful lives. Where no internally-generated intangible asset can be recognised, development expenditure is charged to profit or loss in the period in which it is incurred.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForExpensesExplanatory",
"language": "en",
"entity": "scheme:549300D3GNWVMWZD7E21",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s7_notes__6__39": {
"value": "5.2.7. Borrowing costsBorrowing costs are recognised in profit or loss in the period in which they are incurred, unless they are directly attributable to qualifying assets, in which case they are capitalised.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForBorrowingCostsExplanatory",
"language": "en",
"entity": "scheme:549300D3GNWVMWZD7E21",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s7_notes__6__42": {
"value": "5.2.8. Government grantsCapital grants are presented on a separate line \u201ccapital grants\u201d in the consolidated balance sheet.Government grants are recognised in profit or loss (in other operating income) over the periods necessary to match them with the related costs. Government grants related to later periods are presented in the financial statements as deferred income in a separate section of current liabilities.Since 2022, these are now separately shown..If the government grant relates directly to an investment, it is deducted from the investment costs or taken to the income statement as other debts over the depreciation period of the asset to which it relates.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForGovernmentGrants",
"language": "en",
"entity": "scheme:549300D3GNWVMWZD7E21",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s7_notes__6__44": {
"value": "5.2.9. Retirement benefit costs and termination benefitsFor defined benefit retirement benefit plans, the cost of providing benefits - as well as the defined contribution plans - is determined using the projected unit credit method, with actuarial valuations being carried out at the end of each annual reporting period. Remeasurement, comprising actuarial gains and losses, the effect of the changes to the asset ceiling (if applicable) and the return on plan assets (excluding interest), is reflected immediately in the statement of financial position with a charge or credit recognised in other comprehensive income is reflected immediately in retained earnings and will not be reclassified to profit or loss.Past service cost is recognised in profit or loss in the period of a plan amendment. Net interest is calculated by applying the discount rate at the beginning of the period to the net defined benefit liability or asset. Benefit costs are categorised as follows: \u2022 Service cost (including current service cost, past service cost, as well as gains and losses on curtailments and settlements).\u2022 Net interest expense or income.\u2022 Remeasurement. The Group presents the first 2 components of benefit costs in profit and loss in the line item employee benefits expense. Curtailment gains and losses are accounted for as past service costs. The 3rd component is recognised directly to other comprehensive income..The retirement benefit obligation recognised in the consolidated statement of financial position represents the actual deficit or surplus in the Group\u2019s benefit plans. Any surplus resulting from this calculation is limited to the present value of any economic benefits available in the form of refunds from the plans or reductions in future contributions to the plans.A liability for a termination benefit is recognised at the earlier of when the entity can no longer withdraw the offer of the termination benefit and when the entity recognises any related restructuring costs.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForTerminationBenefits",
"language": "en",
"entity": "scheme:549300D3GNWVMWZD7E21",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s7_notes__6__43": {
"value": "5.2.9. Retirement benefit costs and termination benefitsFor defined benefit retirement benefit plans, the cost of providing benefits - as well as the defined contribution plans - is determined using the projected unit credit method, with actuarial valuations being carried out at the end of each annual reporting period. Remeasurement, comprising actuarial gains and losses, the effect of the changes to the asset ceiling (if applicable) and the return on plan assets (excluding interest), is reflected immediately in the statement of financial position with a charge or credit recognised in other comprehensive income is reflected immediately in retained earnings and will not be reclassified to profit or loss.Past service cost is recognised in profit or loss in the period of a plan amendment. Net interest is calculated by applying the discount rate at the beginning of the period to the net defined benefit liability or asset. Benefit costs are categorised as follows: \u2022 Service cost (including current service cost, past service cost, as well as gains and losses on curtailments and settlements).\u2022 Net interest expense or income.\u2022 Remeasurement. The Group presents the first 2 components of benefit costs in profit and loss in the line item employee benefits expense. Curtailment gains and losses are accounted for as past service costs. The 3rd component is recognised directly to other comprehensive income..The retirement benefit obligation recognised in the consolidated statement of financial position represents the actual deficit or surplus in the Group\u2019s benefit plans. Any surplus resulting from this calculation is limited to the present value of any economic benefits available in the form of refunds from the plans or reductions in future contributions to the plans.A liability for a termination benefit is recognised at the earlier of when the entity can no longer withdraw the offer of the termination benefit and when the entity recognises any related restructuring costs.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForEmployeeBenefitsExplanatory",
"language": "en",
"entity": "scheme:549300D3GNWVMWZD7E21",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s7_notes__6__46": {
"value": "5.2.10. TaxationIncome tax expense represents the sum of the tax currently payable and deferred tax. The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The Group\u2019s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the balance sheet date.Deferred tax is recognised on differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit, and is accounted for using the balance sheet liability method. Deferred tax liabilities are generally recognised for all taxable temporary differences and deferred tax assets are recognised to the extent that it is probable that taxable profits will be available against which deductible temporary differences can be utilised.Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset realised. Deferred tax is charged or credited to profit or loss, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. 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 when they relate to income taxes levied by the same taxation authority and the Group intends to settle its current tax assets and liabilities on a net basis.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForDeferredIncomeTaxExplanatory",
"language": "en",
"entity": "scheme:549300D3GNWVMWZD7E21",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s7_notes__6__45": {
"value": "5.2.10. TaxationIncome tax expense represents the sum of the tax currently payable and deferred tax. The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The Group\u2019s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the balance sheet date.Deferred tax is recognised on differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit, and is accounted for using the balance sheet liability method. Deferred tax liabilities are generally recognised for all taxable temporary differences and deferred tax assets are recognised to the extent that it is probable that taxable profits will be available against which deductible temporary differences can be utilised.Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset realised. Deferred tax is charged or credited to profit or loss, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. 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 when they relate to income taxes levied by the same taxation authority and the Group intends to settle its current tax assets and liabilities on a net basis.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForIncomeTaxExplanatory",
"language": "en",
"entity": "scheme:549300D3GNWVMWZD7E21",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s7_notes__6__47": {
"value": "5.2.11. Property, plant and equipmentProperty, plant & equipment are stated at cost less accumulated depreciation and any accumulated impairment losses. Properties in the course of construction for production, rental or administrative purposes, are carried at cost, less any recognised impairment loss. Cost includes professional fees and, for qualifying assets, borrowing costs capitalised in accordance with the Group\u2019s accounting policy. Depreciation of these assets commences when the assets are ready for their intended use.Depreciation is charged so as to write off the cost or valuation of assets, other than land and properties under construction, over their estimated useful lives, using the straight-line method. Assets held under finance leases are depreciated over their expected useful lives on the same basis as owned assets or, where shorter, the term of the relevant lease. The gain or loss arising on the disposal or retirement of an item of property, plant and equipment is determined as the difference between the sales proceeds and the carrying amount of the asset and is recognised in profit or loss.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory",
"language": "en",
"entity": "scheme:549300D3GNWVMWZD7E21",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s7_notes__6__53-1": {
"value": "5.2.12. Internally-generated intangible assets \u2013 research and development expenditure Expenditure on research activities is recognised as an expense in the period in which it is incurred. An internally-generated intangible asset arising from the Group\u2019s development is recognised only if all of the following conditions are met: \u2022 An asset is created that can be identified (such as software and new processes).\u2022 It is probable that the asset created will generate future economic benefits and.\u2022 The development cost of the asset can be measured reliably. Internally-generated intangible assets are amortised on a straight-line basis over their estimated useful lives. Where no internally-generated intangible asset can be recognised, development expenditure is charged to profit or loss in the period in which it is incurred.5.2.13. Patents, trademarks and software purchasedPatents, trademarks and software purchased are measured initially at purchase cost and are amortised on a straight-line basis over their estimated useful lives.5.2.14. Impairment of tangible and intangible assets excluding goodwillAt each balance sheet date, the Group reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the Group estimates the recoverable amount of the cash generating unit to which the asset belongs.Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset. If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.Where an impairment loss subsequently reverses, the carrying amount of the asset (cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (cash generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForIntangibleAssetsOtherThanGoodwillExplanatory",
"language": "en",
"entity": "scheme:549300D3GNWVMWZD7E21",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s7_notes__6__50": {
"value": "5.2.12. Internally-generated intangible assets \u2013 research and development expenditure Expenditure on research activities is recognised as an expense in the period in which it is incurred. An internally-generated intangible asset arising from the Group\u2019s development is recognised only if all of the following conditions are met: \u2022 An asset is created that can be identified (such as software and new processes).\u2022 It is probable that the asset created will generate future economic benefits and.\u2022 The development cost of the asset can be measured reliably. Internally-generated intangible assets are amortised on a straight-line basis over their estimated useful lives. Where no internally-generated intangible asset can be recognised, development expenditure is charged to profit or loss in the period in which it is incurred.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForResearchAndDevelopmentExpenseExplanatory",
"language": "en",
"entity": "scheme:549300D3GNWVMWZD7E21",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s7_notes__6__54": {
"value": "5.2.13. Patents, trademarks and software purchasedPatents, trademarks and software purchased are measured initially at purchase cost and are amortised on a straight-line basis over their estimated useful lives.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForProgrammingAssetsExplanatory",
"language": "en",
"entity": "scheme:549300D3GNWVMWZD7E21",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s7_notes__6__61-1": {
"value": "5.2.14. Impairment of tangible and intangible assets excluding goodwillAt each balance sheet date, the Group reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the Group estimates the recoverable amount of the cash generating unit to which the asset belongs.Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset. If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.Where an impairment loss subsequently reverses, the carrying amount of the asset (cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (cash generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.The inventories are valued at the lower of cost, determined as described above, or net realisable value. The net realisable value represents the estimated selling price in normal circumstances less estimated cost of completion and costs to be incurred to realise sales (marketing, selling and distribution). The estimated selling price is based on the LME quotation (London Metal Exchange) for lead. For the antimony price we refer to the current prices in combination with the already contracted purchase and sales contracts.Value reductions are made for the old and slow moving inventories.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfNonfinancialAssetsExplanatory",
"language": "en",
"entity": "scheme:549300D3GNWVMWZD7E21",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s7_notes__6__62": {
"value": "5.2.15. InventoriesCost of the raw materials includes both the purchasing price (using the principle of First in First out (\u201cFIFO\u201d)), and the direct purchasing costs, like import duties, transportation and completion costs.Cost of work in progress and finished products comprises all direct and indirect costs necessary that have been incurred in bringing the inventories to their present location condition on balance sheet date. Direct costs include, among others, the cost of the used raw materials and the direct labour costs.Indirect costs include a systematical impute of fixed and variable indirect production costs proceeded from the conversion of raw materials in end products. The impute of fixed indirect production costs is based on the normal capacity of the production facilities.For the determination of the cost, the standard cost price method is used. The standard cost price takes into account the normal use of raw and auxiliary materials, labour, efficiency and capacity. The standard cost price is frequently being evaluated and, if necessary, revised in consideration with the present conditions. The standard cost price of the raw and auxiliary materials, as also the appreciation of it in work in progress and in raw materials, will be revised every month on the basis of the new determined FIFO value of these raw and auxiliary materials.The inventories are valued at the lower of cost, determined as described above, or net realisable value. The net realisable value represents the estimated selling price in normal circumstances less estimated cost of completion and costs to be incurred to realise sales (marketing, selling and distribution). The estimated selling price is based on the LME quotation (London Metal Exchange) for lead. For the antimony price we refer to the current prices in combination with the already contracted purchase and sales contracts.Value reductions are made for the old and slow moving inventories.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForMeasuringInventories",
"language": "en",
"entity": "scheme:549300D3GNWVMWZD7E21",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s7_notes__6__65": {
"value": "5.2.16. Trade receivablesTrade receivables are measured at initial recognition at fair value. Appropriate allowances for estimated irrecoverable amounts are recognised in profit or loss when there is objective evidence that the asset is impaired. The allowance recognised is measured as the difference between the asset\u2019s carrying amount and the present value of estimated future cash flows discounted at the effective interest rate computed at initial recognition. Based on a regular age analysis of the assets, it is determined case per case if a liability for doubtful debtors is needed. FactoringThe Group entered into a factoring agreement with a credit institution, whereby the credit institution pays advances to the Group on trade receivables. As the credit risk of these receivables remains with the Group, not all risks and rewards of the transferred receivables are transferred. As a consequence, the receivables remain on the balance sheet of the Group and the advances received are recorded in the balance sheet under the short term advances on factoring.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForTradeAndOtherReceivablesExplanatory",
"language": "en",
"entity": "scheme:549300D3GNWVMWZD7E21",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s7_notes__6__67": {
"value": "5.2.17. Cash and cash equivalentsCash and cash equivalents comprise cash on hand and demand deposits. Cash and cash equivalents are included at amortized value.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyToDetermineComponentsOfCashAndCashEquivalents",
"language": "en",
"entity": "scheme:549300D3GNWVMWZD7E21",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s7_notes__6__69": {
"value": "5.2.18. Bank borrowingsInterest-bearing bank loans and overdrafts are measured at fair value. They are subsequently valued using the effective interest method. Any difference between the proceeds (net of transaction costs) and the settlement or redemption of borrowings is recognised over the term of the borrowings in accordance with the Group\u2019s accounting policy for borrowing costs (see above).",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForBorrowingsExplanatory",
"language": "en",
"entity": "scheme:549300D3GNWVMWZD7E21",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s7_notes__6__75": {
"value": "5.2.20.ProvisionsProvisions are recognised when the Group has a present obligation as a result of a past event, and it is probable that the Group will be required to settle that obligation. Provisions are measured at the directors\u2019 best estimate of the expenditure required to settle the obligation at the balance sheet date, and are discounted to present value where the effect is material.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForProvisionsExplanatory",
"language": "en",
"entity": "scheme:549300D3GNWVMWZD7E21",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s7_notes__6__76": {
"value": "5.3. JUDGEMENT AND USE OF ESTIMATESThe preparation of financial statements requires the use of estimates and assumptions to determine the value of assets and liabilities, to assess the positive and negative consequences of unforeseen situations and events at the balance sheet date, and to form a judgment as to the revenues and expenses of the fiscal year.The basis of the judgement and use of estimates is consistent to our annual report 2023.Significant estimates made by the Group in preparation of the financial statements relate mainly to:\u2022 Valuation of the recoverable amount of stocks (see note 5.12.). The inventories are valued at cost, determined as described above, or at market value, if the latter is lower.\u2022 Valuation of sanitation provisions (see note 5.21.). The Group has set up a provision for soil sanitation and other environmental items.\u2022 Pension and related liabilities (see note 5.26.). The estimated liability arising from defined contribution and defined benefit retirement benefit plans of the Group, is based on actuarial assumptions. The pre-tax discount rate and estimated salary expectations are actuarial assumptions which can significantly affect the liability.\u2022 Deferred tax assets are recognised for the carry forward of unused tax losses and unused tax credits to the extent that it is probable that future taxable profit will be available against which the unused tax losses and unused tax credits can be utilised. In making its judgement, the board takes into account long-term business strategy. A major uncertainty in the determination of the future taxable result concerns the volatility and unpredictability of raw material prices.\u2022 Others; litigation and lawsuits. The Campine group is subject to proceedings, lawsuits and other claims related to products and other matters. We are required to assess the likelihood of any adverse judgements or outcomes to these matters as well as potential ranges of probable and reasonably possible losses. This requires significant management judgement.Due to the uncertainties inherent in all valuation processes, the Group revises its estimates on the basis of regularly updated information. Future results may differ from these estimates. As well as the use of estimates, Group management also uses judgment in defining the accounting treatment for certain operations and transactions not addressed under the IFRS standards and interpretations currently in force.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfAccountingJudgementsAndEstimatesExplanatory",
"language": "en",
"entity": "scheme:549300D3GNWVMWZD7E21",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s7_notes__6__77": {
"value": "5.4. OPERATIONAL SEGMENTS5.4.1. Geographical segmentsThe group\u2019s headquarters are located in Belgium, Nijverheidsstraat 2, 2340 Beerse. The group\u2019s manufacturing operations are located in Nijverheidsstraat 2, 2340 Beerse, Belgium; 300 avenue de l\u2019Epie, 69400 Arnas France and 20 rue des Pr\u00e9s, 59161 Escaudoeuvres, France. The following table provides an analysis of the Group\u2019s sales by geographical market. 12/31/2023 12/31/2022 \u20ac \u2018000 % \u20ac \u2018000 %Belgium 9 157 2.8% 8 945 2.8%Germany 143 318 44.5% 114 162 36.0%Switzerland 31 448 9.8% 33 044 10.4%Italy 19 762 6.1% 18 158 5.7%France 18 473 5.7% 18 520 5.8%Turkey 7 444 2.3% 6 497 2.0%Poland 6 689 2.1% 6 275 2.0%The Netherlands 6 072 1.9% 10 210 3.2%United Kingdom 3 542 1.1% 3 075 1.0%Roemenia 3 030 0.9% 10 686 3.4%Other European countries 12 289 3.8% 15 066 4.7%Asia 33 723 10.5% 26 843 8.5%North-America 24 259 7.5% 44 470 14.0%Others 2 765 0.9% 1 479 0.5%321 971 100% 317 430 100%89% of the turnover of Circular Metals was realised in Europe whereas 73% of the turnover of Specialty Chemicals was achieved in Europe.5.4.2. Business segments/divisionsOur reportable segments reflect the significant components of our operations. We evaluate our business operations in two segments, called divisions: \u201cSpecialty Chemicals\u201d and \u201cCircular Metals\u201d. Discrete financial information on these two segments is provided to the CODM (turnover is presented per BU, volumes are presented per division).\u2022 Specialty Chemicals hosts all businesses which serve end-markets with chemical products and derivates. The manufacturing of antimony trioxide used as flame retardant, polymerization catalyst and pigment reagent and the production of different types of polymer and plastic masterbatches. The Specialty Chemicals division comprises the business units (BU\u2019s) BU Antimony trioxide, BU FR Masterbatches and BU recycled Polymers. BU BU BU Total Specialty Turnover \u20ac \u2018000Antimony TrioxideFR Masterbatchesrecycled Polymers*ChemicalsOn 31 december 2023 84 405 30 841 12 253 127 499On 31 december 2022 99 547 47 769 6 218 153 534\u2206-15.2% -35.4% - -17.0%The total (external and cross-business unit) turnover of the Specialty Chemicals division represents a volume of 21 084 ton (12/31/2022: 18 483 ton) (+14.1%). The split between external sales and cross-business unit sales can be found in the table on the next page. \u2022 Circular Metals hosts the businesses in which metals are being recovered from industrial and postconsumer waste streams. The main activity is the manufacturing of lead alloys. To this business is added the growing activity of the recycling of other metals such as antimony and tin. This division comprises the business units (BU\u2019) BU Lead, BU Metals Recovery and BU recycled Batteries. BU BU BU Total Circular Turnover \u20ac \u2018000Metals RecoveryLeadrecycled Batteries*MetalsOn 31 december 2023 17 781 150 181 68 475 236 437On 31 december 2022 18 111 149 140 29 559 196 810\u2206-1.8% 0.7% - 20.1%The total (external and cross-business unit) turnover of the Circular Metals division represents a volume of 128 621 ton (12/31/2022: 91 813 ton) (+40.1%). The split between external sales and cross-business unit sales can be found in the table on the next page.There are two customers in the Circular metals division who represents more than 10% of the Group\u2019s turnover (33%). * After the acquisition in July 2022 only the second semester was consolidated; in 2023 an entire year.Specialty Corporate &ChemicalsCircular MetalsUnallocatedTotal\u2018000 \u20ac12/31/202312/31/202312/31/202312/31/2023REVENUEExternal sales 127 499 194 472 - 321 971Cross-business unit sales in the same segment - 41 965 -41 965 0Total revenue 127 499 236 437 -41 965 321 971RESULTSegment operating result 2 015 16 626 - 18 641Unallocated expenses - - - -Operating result (EBIT) 18.641Investment revenues - - 8 8Hedging results - 914 - 914Finance costs - - -1 303 -1 303Result before tax 18 260Income tax expense -4 609Result for the period 13 651Specialty Corporate & ChemicalsCircular MetalsUnallocatedTotal'000 \u20ac12/31/202312/31/202312/31/202312/31/2023OTHER INFORMATIONCapital additions 2 840 3 799 1 2787 917Depreciation and amortisation (incl. right-of-use -2 024 -3 965 -1 209 -7 198assets)BALANCE SHEETAssetsFixed assets (incl. right-of-use assets) 7 924 21 168 5 561 34 653Stocks 22 545 27 350 2 906 52 801Trade receivables 20 380 12 035 - 32 415Other receivables - - 1 764 1 764Derivatives - 375 - 375Cash and cash equivalent - - 3 738 3 738Total assets 50 849 60 928 13 969 125 746Long term liabilitiesRetirement benefit obligation - - 1 802 1 802Deferred tax liabilities - - 503 503Bank loans - - 3 750 3 750Obligations under leases - - 456 456Provisions 65 6 185 - 6 250Short term liabilitiesTrade payables 5 933 11 905 3 246 21 084Other payables - - 6 683 6 683Capital grants - - 1 065 1 065Current tax liabilities - - 205 205Obligations under leases - - 249 249Bank overdrafts and loans* - - 14 554 14 554Total liabilities 5 998 18 090 32 513 56 601* Advances on bank overdrafts and loans are always withdrawn in function of the necessary working capital. They are considered to relate to the whole of the group\u2019s two legal entities and are therefore not allocated at segment level. Specialty Corporate & Chemicals Circular Metals Unallocated Total '000 \u20ac12/31/202212/31/202212/31/202212/31/2022REVENUEExternal sales 153 534 163 896 - 317 430Cross-business unit sales in the same segment - 32 914 -32 914 0Total revenue 153 534 196 810 -32 914 317 430RESULTSegment operating result 4 388 9 431 - 13 819Unallocated expenses - - 6 478 6 478Operating result (EBIT) 20 297Investment revenues - - 2 2Hedging results - -612 - -612Finance costs - - -747 -747Result before tax 18 940Income tax expense -3 135Result for the period 15 805 Specialty Corporate & Chemicals Circular Metals Unallocated Total '000 \u20ac12/31/202212/31/202212/31/202212/31/2022OTHER INFORMATIONCapital additions 4 542 9 813 2 092 16 447Depreciation and amortisation (incl. right-of-use -1 506 -3 294 -959 -5 759assets)BALANCE SHEETAssetsFixed assets (incl. right-of-use assets) 7 108 21 334 5 492 33 934Deferred tax - - 166 166Cash paid in escrow - - 57 57Stocks 25 625 24 250 2 161 52 036Trade receivables 19 382 17 850 -1 613 35 619Other receivables - - 2 873 2 873Cash and cash equivalent - - 2 908 2 908Total activa 52 115 63 434 12 044 127 593Long term liabilitiesRetirement benefit obligation- -1 496 1 496Deferred tax liabilities - - 741 741Bank loans - - 5 250 5 250Obligations under leases - - 184 184Provisions 170 6 065 - 6 235Short term liabilitiesRetirement benefit obligation - - 14 14Trade payables 6 052 16 105 986 23 143Other payables - - 5 746 5 746Capital grants - - 1 249 1 249Derivatives - 632 - 632Current tax liabilities - - 1 200 1 200Obligations under leases - - 208 208Bank overdrafts and loans* - - 21 945 21 945Total liabilities 6 222 22 802 39 019 68 043* Advances on bank overdrafts and loans are always withdrawn in function of the necessary working capital. They are considered to relate to the whole of the group\u2019s two legal entities and are therefore not allocated at segment level.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfEntitysReportableSegmentsExplanatory",
"language": "en",
"entity": "scheme:549300D3GNWVMWZD7E21",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s7_notes__6__78": {
"value": "5.4.2. Business segments/divisionsOur reportable segments reflect the significant components of our operations. We evaluate our business operations in two segments, called divisions: \u201cSpecialty Chemicals\u201d and \u201cCircular Metals\u201d. Discrete financial information on these two segments is provided to the CODM (turnover is presented per BU, volumes are presented per division).\u2022 Specialty Chemicals hosts all businesses which serve end-markets with chemical products and derivates. The manufacturing of antimony trioxide used as flame retardant, polymerization catalyst and pigment reagent and the production of different types of polymer and plastic masterbatches. The Specialty Chemicals division comprises the business units (BU\u2019s) BU Antimony trioxide, BU FR Masterbatches and BU recycled Polymers. BU BU BU Total Specialty Turnover \u20ac \u2018000Antimony TrioxideFR Masterbatchesrecycled Polymers*ChemicalsOn 31 december 2023 84 405 30 841 12 253 127 499On 31 december 2022 99 547 47 769 6 218 153 534\u2206-15.2% -35.4% - -17.0%The total (external and cross-business unit) turnover of the Specialty Chemicals division represents a volume of 21 084 ton (12/31/2022: 18 483 ton) (+14.1%). The split between external sales and cross-business unit sales can be found in the table on the next page. \u2022 Circular Metals hosts the businesses in which metals are being recovered from industrial and postconsumer waste streams. The main activity is the manufacturing of lead alloys. To this business is added the growing activity of the recycling of other metals such as antimony and tin. This division comprises the business units (BU\u2019) BU Lead, BU Metals Recovery and BU recycled Batteries. BU BU BU Total Circular Turnover \u20ac \u2018000Metals RecoveryLeadrecycled Batteries*MetalsOn 31 december 2023 17 781 150 181 68 475 236 437On 31 december 2022 18 111 149 140 29 559 196 810\u2206-1.8% 0.7% - 20.1%The total (external and cross-business unit) turnover of the Circular Metals division represents a volume of 128 621 ton (12/31/2022: 91 813 ton) (+40.1%). The split between external sales and cross-business unit sales can be found in the table on the next page.There are two customers in the Circular metals division who represents more than 10% of the Group\u2019s turnover (33%). * After the acquisition in July 2022 only the second semester was consolidated; in 2023 an entire year.Specialty Corporate &ChemicalsCircular MetalsUnallocatedTotal\u2018000 \u20ac12/31/202312/31/202312/31/202312/31/2023REVENUEExternal sales 127 499 194 472 - 321 971Cross-business unit sales in the same segment - 41 965 -41 965 0Total revenue 127 499 236 437 -41 965 321 971RESULTSegment operating result 2 015 16 626 - 18 641Unallocated expenses - - - -Operating result (EBIT) 18.641Investment revenues - - 8 8Hedging results - 914 - 914Finance costs - - -1 303 -1 303Result before tax 18 260Income tax expense -4 609Result for the period 13 651Specialty Corporate & ChemicalsCircular MetalsUnallocatedTotal'000 \u20ac12/31/202312/31/202312/31/202312/31/2023OTHER INFORMATIONCapital additions 2 840 3 799 1 2787 917Depreciation and amortisation (incl. right-of-use -2 024 -3 965 -1 209 -7 198assets)BALANCE SHEETAssetsFixed assets (incl. right-of-use assets) 7 924 21 168 5 561 34 653Stocks 22 545 27 350 2 906 52 801Trade receivables 20 380 12 035 - 32 415Other receivables - - 1 764 1 764Derivatives - 375 - 375Cash and cash equivalent - - 3 738 3 738Total assets 50 849 60 928 13 969 125 746Long term liabilitiesRetirement benefit obligation - - 1 802 1 802Deferred tax liabilities - - 503 503Bank loans - - 3 750 3 750Obligations under leases - - 456 456Provisions 65 6 185 - 6 250Short term liabilitiesTrade payables 5 933 11 905 3 246 21 084Other payables - - 6 683 6 683Capital grants - - 1 065 1 065Current tax liabilities - - 205 205Obligations under leases - - 249 249Bank overdrafts and loans* - - 14 554 14 554Total liabilities 5 998 18 090 32 513 56 601* Advances on bank overdrafts and loans are always withdrawn in function of the necessary working capital. They are considered to relate to the whole of the group\u2019s two legal entities and are therefore not allocated at segment level. Specialty Corporate & Chemicals Circular Metals Unallocated Total '000 \u20ac12/31/202212/31/202212/31/202212/31/2022REVENUEExternal sales 153 534 163 896 - 317 430Cross-business unit sales in the same segment - 32 914 -32 914 0Total revenue 153 534 196 810 -32 914 317 430RESULTSegment operating result 4 388 9 431 - 13 819Unallocated expenses - - 6 478 6 478Operating result (EBIT) 20 297Investment revenues - - 2 2Hedging results - -612 - -612Finance costs - - -747 -747Result before tax 18 940Income tax expense -3 135Result for the period 15 805 Specialty Corporate & Chemicals Circular Metals Unallocated Total '000 \u20ac12/31/202212/31/202212/31/202212/31/2022OTHER INFORMATIONCapital additions 4 542 9 813 2 092 16 447Depreciation and amortisation (incl. right-of-use -1 506 -3 294 -959 -5 759assets)BALANCE SHEETAssetsFixed assets (incl. right-of-use assets) 7 108 21 334 5 492 33 934Deferred tax - - 166 166Cash paid in escrow - - 57 57Stocks 25 625 24 250 2 161 52 036Trade receivables 19 382 17 850 -1 613 35 619Other receivables - - 2 873 2 873Cash and cash equivalent - - 2 908 2 908Total activa 52 115 63 434 12 044 127 593Long term liabilitiesRetirement benefit obligation- -1 496 1 496Deferred tax liabilities - - 741 741Bank loans - - 5 250 5 250Obligations under leases - - 184 184Provisions 170 6 065 - 6 235Short term liabilitiesRetirement benefit obligation - - 14 14Trade payables 6 052 16 105 986 23 143Other payables - - 5 746 5 746Capital grants - - 1 249 1 249Derivatives - 632 - 632Current tax liabilities - - 1 200 1 200Obligations under leases - - 208 208Bank overdrafts and loans* - - 21 945 21 945Total liabilities 6 222 22 802 39 019 68 043* Advances on bank overdrafts and loans are always withdrawn in function of the necessary working capital. They are considered to relate to the whole of the group\u2019s two legal entities and are therefore not allocated at segment level.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfRevenueExplanatory",
"language": "en",
"entity": "scheme:549300D3GNWVMWZD7E21",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s7_notes__6__82": {
"value": "5.5. OTHER OPERATING EXPENSE AND INCOME\u2018000 \u20ac 12/31/2023 12/31/2022OTHER OPERATING EXPENSEOffice expenses & IT1 4221 325Fees7801 169Insurances1 264695Interim personnel1 8602 718Expenses related to personnel327205Carry-off of waste3 8064 209Travel expenses507 300Transportation costs7 1736 692Other purchase and sales expenses648733Negative operating hedge result341430Research & development198186Renting247530Subscriptions524365Advertising - publicity144114Other taxes (unrelated to result)323165Financial costs (other than interest)519303Others19538720 278 20 526",
"dimensions": {
"concept": "ifrs-full:DisclosureOfOtherOperatingExpenseExplanatory",
"language": "en",
"entity": "scheme:549300D3GNWVMWZD7E21",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s7_notes__6__81": {
"value": "5.5. OTHER OPERATING EXPENSE AND INCOME\u2018000 \u20ac 12/31/2023 12/31/2022OTHER OPERATING EXPENSEOffice expenses & IT1 4221 325Fees7801 169Insurances1 264695Interim personnel1 8602 718Expenses related to personnel327205Carry-off of waste3 8064 209Travel expenses507 300Transportation costs7 1736 692Other purchase and sales expenses648733Negative operating hedge result341430Research & development198186Renting247530Subscriptions524365Advertising - publicity144114Other taxes (unrelated to result)323165Financial costs (other than interest)519303Others19538720 278 20 526",
"dimensions": {
"concept": "ifrs-full:DisclosureOfExpensesByNatureExplanatory",
"language": "en",
"entity": "scheme:549300D3GNWVMWZD7E21",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s7_notes__6__80-1": {
"value": "5.5. OTHER OPERATING EXPENSE AND INCOME\u2018000 \u20ac 12/31/2023 12/31/2022OTHER OPERATING EXPENSEOffice expenses & IT1 4221 325Fees7801 169Insurances1 264695Interim personnel1 8602 718Expenses related to personnel327205Carry-off of waste3 8064 209Travel expenses507 300Transportation costs7 1736 692Other purchase and sales expenses648733Negative operating hedge result341430Research & development198186Renting247530Subscriptions524365Advertising - publicity144114Other taxes (unrelated to result)323165Financial costs (other than interest)519303Others19538720 278 20 5265.6. FINANCE COSTS\u2018000 \u20ac 12/31/2023 12/31/2022Interest on bank overdrafts, loans and factoring 1 284 742Interest cost on leasing 19 5Total borrowing costs 1 303 7475.7. INCOME TAX EXPENSE\u2018000 \u20ac 12/31/2023 12/31/2022Current tax 4 609 3 806 Deferred tax 0 -671 Income tax expense for the year 4 609 3 135 Domestic and French income tax is calculated at 25% (2022: 25%) of the estimated assessable result for the year. \u2018000 \u20ac 12/31/2023 12/31/2022Result before tax 18 260 18 940 Tax at the domestic income tax rate of 25% (2022: 25%) 4 565 4 735 Tax effect of expenses that are not deductible in determining taxable result 119 49 Tax effect of Notional Interest Deduction (NID) 0 0 Tax settlement previous years -64 1 Tax effect of utilisation of tax losses previously not recognised and timing -30 -1 650 differencesTax penalty (insufficient prepayments) 19 0 Effect of different tax rates of subsidiaries operating in other jurisdictions 0 0 Tax expense and effective tax rate for the period 4 609 3 135",
"dimensions": {
"concept": "ifrs-full:DisclosureOfExpensesExplanatory",
"language": "en",
"entity": "scheme:549300D3GNWVMWZD7E21",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s7_notes__6__79": {
"value": "5.5. OTHER OPERATING EXPENSE AND INCOME\u2018000 \u20ac 12/31/2023 12/31/2022OTHER OPERATING EXPENSEOffice expenses & IT1 4221 325Fees7801 169Insurances1 264695Interim personnel1 8602 718Expenses related to personnel327205Carry-off of waste3 8064 209Travel expenses507 300Transportation costs7 1736 692Other purchase and sales expenses648733Negative operating hedge result341430Research & development198186Renting247530Subscriptions524365Advertising - publicity144114Other taxes (unrelated to result)323165Financial costs (other than interest)519303Others19538720 278 20 526Consequently to the acquisition, a revaluation of all sites was carried out which led to a revaluation of the insured premiums. In addition, the costs of the French entities were included for a full year in 2023, while in 2022 this was only for half a year.\u2018000 \u20ac 12/31/2023 12/31/2022OTHER OPERATING INCOMEPositive operating hedge result4141 192Finance income (other than interest)01 325Renting17 53Claims603244Subsidies504229Produced assets - own construction205180Recuperation of costs from third parties29610Others471102 086 3 343The finance income (other than interest) for 2022 has a positive effect on exchange rate differences. This had a limited negative effect in 2023 which is included in financial costs (other than interest).",
"dimensions": {
"concept": "ifrs-full:DisclosureOfOtherOperatingIncomeExpenseExplanatory",
"language": "en",
"entity": "scheme:549300D3GNWVMWZD7E21",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s7_notes__6__83": {
"value": "\u2018000 \u20ac 12/31/2023 12/31/2022OTHER OPERATING INCOMEPositive operating hedge result4141 192Finance income (other than interest)01 325Renting17 53Claims603244Subsidies504229Produced assets - own construction205180Recuperation of costs from third parties29610Others471102 086 3 343",
"dimensions": {
"concept": "ifrs-full:DisclosureOfOtherOperatingIncomeExplanatory",
"language": "en",
"entity": "scheme:549300D3GNWVMWZD7E21",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s7_notes__6__88": {
"value": "5.6. FINANCE COSTS\u2018000 \u20ac 12/31/2023 12/31/2022Interest on bank overdrafts, loans and factoring 1 284 742Interest cost on leasing 19 5Total borrowing costs 1 303 747",
"dimensions": {
"concept": "ifrs-full:DisclosureOfInterestExpenseExplanatory",
"language": "en",
"entity": "scheme:549300D3GNWVMWZD7E21",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s7_notes__6__87": {
"value": "5.6. FINANCE COSTS\u2018000 \u20ac 12/31/2023 12/31/2022Interest on bank overdrafts, loans and factoring 1 284 742Interest cost on leasing 19 5Total borrowing costs 1 303 747",
"dimensions": {
"concept": "ifrs-full:DisclosureOfInterestIncomeExpenseExplanatory",
"language": "en",
"entity": "scheme:549300D3GNWVMWZD7E21",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s7_notes__6__85": {
"value": "5.6. FINANCE COSTS\u2018000 \u20ac 12/31/2023 12/31/2022Interest on bank overdrafts, loans and factoring 1 284 742Interest cost on leasing 19 5Total borrowing costs 1 303 747",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFinanceCostExplanatory",
"language": "en",
"entity": "scheme:549300D3GNWVMWZD7E21",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s7_notes__6__84": {
"value": "5.6. FINANCE COSTS\u2018000 \u20ac 12/31/2023 12/31/2022Interest on bank overdrafts, loans and factoring 1 284 742Interest cost on leasing 19 5Total borrowing costs 1 303 747",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFinanceIncomeExpenseExplanatory",
"language": "en",
"entity": "scheme:549300D3GNWVMWZD7E21",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s7_notes__6__89-1": {
"value": "5.7. INCOME TAX EXPENSE\u2018000 \u20ac 12/31/2023 12/31/2022Current tax 4 609 3 806 Deferred tax 0 -671 Income tax expense for the year 4 609 3 135 Domestic and French income tax is calculated at 25% (2022: 25%) of the estimated assessable result for the year. \u2018000 \u20ac 12/31/2023 12/31/2022Result before tax 18 260 18 940 Tax at the domestic income tax rate of 25% (2022: 25%) 4 565 4 735 Tax effect of expenses that are not deductible in determining taxable result 119 49 Tax effect of Notional Interest Deduction (NID) 0 0 Tax settlement previous years -64 1 Tax effect of utilisation of tax losses previously not recognised and timing -30 -1 650 differencesTax penalty (insufficient prepayments) 19 0 Effect of different tax rates of subsidiaries operating in other jurisdictions 0 0 Tax expense and effective tax rate for the period 4 609 3 1355.17. DEFERRED TAXThe following are the major deferred tax liabilities and assets recognised by the Group, and the movements thereon, during the current and prior reporting periods.TimingdifferencesPositive Retirement on fixedfair value benefit Fiscal Capital\u2018000 \u20acassetsderivativesobligationslosses Othersgrants TotalOn 31 December 2021 1 - -117 - 12 219 115Charge/(credit) to result for 552 - 26 - -108 -31 439the yearCharge/(credit) to other - - 21 - - - 21comprehensive incomeOn 31 December 2022 553 - -70 - -96 188 575Charge/(credit) to result for -217 94 34 - 121 -32 0the yearCharge/(credit) to other - - -72 - - - -72comprehensive incomeOn 31 December 2023336 94 -108 - 25 156 503 The balance of \u20ac 503K consists of a deferred tax asset ad \u20ac 0K (12/31/2022: \u20ac 166K) and a deferred tax liability of \u20ac 503K (\u20ac 741K on 12/31/2022).",
"dimensions": {
"concept": "ifrs-full:DisclosureOfIncomeTaxExplanatory",
"language": "en",
"entity": "scheme:549300D3GNWVMWZD7E21",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s7_notes__6__91": {
"value": "5.8. DIVIDENDS AND TANTI\u00c8METhe board proposes to pay a dividend amounting to 4.5 mio \u20ac based on the 2023 results. A total dividend of \u20ac 3.75 mio was paid based on the 2022 result.The board proposes to pay the non-executive directors a tanti\u00e8me for the financial year closed on 12/31/2023 as follows: F.-W. FLG DELOX HempelBELGIUMYASSchairmanH.-R. OrgsTotalTanti\u00e8me \u20ac 15 000 \u20ac 15 000 \u20ac 15 000 \u20ac 30 000 \u20ac 15 000 \u20ac 90 000For the financial year closed on 12/31/2022 a total tanti\u00e8me of \u20ac 90K was paid.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfDividendsExplanatory",
"language": "en",
"entity": "scheme:549300D3GNWVMWZD7E21",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s7_notes__6__93": {
"value": "4500000",
"decimals": -5,
"dimensions": {
"concept": "ifrs-full:DividendsProposedOrDeclaredBeforeFinancialStatementsAuthorisedForIssueButNotRecognisedAsDistributionToOwners",
"entity": "scheme:549300D3GNWVMWZD7E21",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:EUR"
}
},
"s7_notes__6__92": {
"value": "5.8.1. Result per shareAs no potential shares \u2013 which could lead to dilution \u2013 were issued and no activities were ceased, the diluted result per share equals the basic result per share. The calculation of the basic and diluted result per share attributable to the ordinary equity holders of the parent is based on the following data: \u2018000 \u20ac 12/31/2023 12/31/2022RESULTResult for purposes of basic and diluted results per share (result for the year 13 651 15 805 attributable to equity holders of the parent)NUMBER OF SHARESWeighted average number of ordinary shares for the purposes of basic and 1 500 000 1 500 000diluted results per share",
"dimensions": {
"concept": "ifrs-full:DisclosureOfEarningsPerShareExplanatory",
"language": "en",
"entity": "scheme:549300D3GNWVMWZD7E21",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s7_notes__6__95-1": {
"value": "5.9. PROPERTY, PLANT AND EQUIPMENT Properties Land and under Fixtures and \u2018000 \u20acbuildings constructionequipment Total COST OR VALUATIONOn 31 December 2021 16 951 386 83 946 101 283Additions 6 522 246 8 981 15 749Transfers - -386 386 0On 31 december 2022 23 473 246 93 313 117 032Additions 1 142 228 5 299 6 669Transfers - -246 246 0On 31 december 2023 24 615 228 98 858 123 701ACCUMULATED DEPRECIATIONOn 31 december 2021 13 338 - 65 176 78 514Depreciation charge for the year 467 - 5 077 5 544On 31 december 2022 13 805 - 70 253 84 058Depreciation charge for the year 685 - 5 949 6 634On 31 december 2023 14 490 0 76 202 90 692CARRYING AMOUNTOn 31 December 2023 10 125 228 22 656 33 009On 31 December 2022 9 668 246 23 060 32 9745.10. INTANGIBLE ASSETS\u2018000 \u20ac Patents, trademarks and software purchasedCOSTOn 31 December 2021 1 940Additions 591On 31 December 2022 2 531Additions 687On 31 December 2023 3 218ACCUMULATED DEPRECIATIONOn 31 December 2021 1 837Charge for the year 126On 31 December 2022 1 963Charge for the year 316On 31 December 2023 2 279CARRYING AMOUNTOn 31 December 2023 939On 31 December 2022 568\u2018000 \u20ac Company carsOn 31 December 2021 373Additions 108Depreciation charge for the year -89Disposals - On 31 December 2022 392Additions 458Depreciation charge for the year -247Disposals - On 31 December 2023 705",
"dimensions": {
"concept": "ifrs-full:DisclosureOfDepreciationAndAmortisationExpenseExplanatory",
"language": "en",
"entity": "scheme:549300D3GNWVMWZD7E21",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s7_notes__6__94": {
"value": "5.9. PROPERTY, PLANT AND EQUIPMENT Properties Land and under Fixtures and \u2018000 \u20acbuildings constructionequipment Total COST OR VALUATIONOn 31 December 2021 16 951 386 83 946 101 283Additions 6 522 246 8 981 15 749Transfers - -386 386 0On 31 december 2022 23 473 246 93 313 117 032Additions 1 142 228 5 299 6 669Transfers - -246 246 0On 31 december 2023 24 615 228 98 858 123 701ACCUMULATED DEPRECIATIONOn 31 december 2021 13 338 - 65 176 78 514Depreciation charge for the year 467 - 5 077 5 544On 31 december 2022 13 805 - 70 253 84 058Depreciation charge for the year 685 - 5 949 6 634On 31 december 2023 14 490 0 76 202 90 692CARRYING AMOUNTOn 31 December 2023 10 125 228 22 656 33 009On 31 December 2022 9 668 246 23 060 32 974We always depreciate until residual value 0. The following depreciation rates are used for property, plant and equipment:Industrial, administrative, commercial buildings 5%Furniture 20%Vehicles 25%Installations, machinery and equipment min 5% \u2013 max 33% depending on the life timeThe Group has not pledged land and buildings to secure banking facilities granted to the Group.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfPropertyPlantAndEquipmentExplanatory",
"language": "en",
"entity": "scheme:549300D3GNWVMWZD7E21",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s7_notes__6__97": {
"value": "5.10. INTANGIBLE ASSETS\u2018000 \u20ac Patents, trademarks and software purchasedCOSTOn 31 December 2021 1 940Additions 591On 31 December 2022 2 531Additions 687On 31 December 2023 3 218ACCUMULATED DEPRECIATIONOn 31 December 2021 1 837Charge for the year 126On 31 December 2022 1 963Charge for the year 316On 31 December 2023 2 279CARRYING AMOUNTOn 31 December 2023 939On 31 December 2022 568The intangible assets included in the table have finite useful lives. Intangible assets are, depending on the category, depreciated over 3 to 8 years.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfIntangibleAssetsExplanatory",
"language": "en",
"entity": "scheme:549300D3GNWVMWZD7E21",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s7_notes__6__96": {
"value": "5.10. INTANGIBLE ASSETS\u2018000 \u20ac Patents, trademarks and software purchasedCOSTOn 31 December 2021 1 940Additions 591On 31 December 2022 2 531Additions 687On 31 December 2023 3 218ACCUMULATED DEPRECIATIONOn 31 December 2021 1 837Charge for the year 126On 31 December 2022 1 963Charge for the year 316On 31 December 2023 2 279CARRYING AMOUNTOn 31 December 2023 939On 31 December 2022 568The intangible assets included in the table have finite useful lives. Intangible assets are, depending on the category, depreciated over 3 to 8 years.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfIntangibleAssetsAndGoodwillExplanatory",
"language": "en",
"entity": "scheme:549300D3GNWVMWZD7E21",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s7_notes__6__99": {
"value": "5.11. SUBSIDIARIESDetails of the Group\u2019s subsidiaries on 12/31/2023 are as follows:Place of 5.12. INVENTORIESincorporation\u2018000 \u20ac 12/31/2023 12/31/2022Proportion Raw materials 14 911 15 060 ProportionWork-in-progress 16 838 12 314 Name of Finished goods 21 052 24 662 (or registration)52 801 52 036 of ownership of votingPrincipal subsidiaryand operationinterestpower heldactivityCampine Recycling nv Belgium 99.99% 100% Lead recyclingVAT: BE0474.955.451Campine France sas France 100.00% 100% Lead recyclingVAT: FR83 911 549 699 Campine recycled Polymers sas France 100.00% 100% Plastic recyclingVAT: FR 59 342 238 649There are no restrictions on the access to and use of the assets of the subsidiaries nor on the proceedings to settle commitments of the Group.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfSignificantInvestmentsInSubsidiariesExplanatory",
"language": "en",
"entity": "scheme:549300D3GNWVMWZD7E21",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s7_notes__6__14": {
"value": "5.11. SUBSIDIARIESDetails of the Group\u2019s subsidiaries on 12/31/2023 are as follows:Place of 5.12. INVENTORIESincorporation\u2018000 \u20ac 12/31/2023 12/31/2022Proportion Raw materials 14 911 15 060 ProportionWork-in-progress 16 838 12 314 Name of Finished goods 21 052 24 662 (or registration)52 801 52 036 of ownership of votingPrincipal subsidiaryand operationinterestpower heldactivityCampine Recycling nv Belgium 99.99% 100% Lead recyclingVAT: BE0474.955.451Campine France sas France 100.00% 100% Lead recyclingVAT: FR83 911 549 699 Campine recycled Polymers sas France 100.00% 100% Plastic recyclingVAT: FR 59 342 238 649There are no restrictions on the access to and use of the assets of the subsidiaries nor on the proceedings to settle commitments of the Group.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfNatureOfEntitysOperationsAndPrincipalActivities",
"language": "en",
"entity": "scheme:549300D3GNWVMWZD7E21",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s7_notes__6__100": {
"value": "Place of 5.12. INVENTORIESincorporation\u2018000 \u20ac 12/31/2023 12/31/2022Proportion Raw materials 14 911 15 060 ProportionWork-in-progress 16 838 12 314 Name of Finished goods 21 052 24 662 (or registration)52 801 52 036 of ownership of votingPrincipal subsidiaryand operationinterestpower heldactivityCampine Recycling nv Belgium 99.99% 100% Lead recyclingVAT: BE0474.955.451Campine France sas France 100.00% 100% Lead recyclingVAT: FR83 911 549 699 Campine recycled Polymers sas France 100.00% 100% Plastic recyclingVAT: FR 59 342 238 649There are no restrictions on the access to and use of the assets of the subsidiaries nor on the proceedings to settle commitments of the Group.The inventory per year-end includes an amount written-off of \u20ac 1 588K (2022: \u20ac 1 502K) because of the lower of cost and market value. The market value is the estimated selling price under normal circumstances less the estimated conversion cost and the estimated costs of realizing the sale (marketing, sales and distribution). The estimated sales price is determined using the LME (London Metal Exchange) quotations for lead. For the antimony price we refer to the current prices in combination with the already contracted purchase and sales contracts. The inventories are part of the pledge on trade fund granted to the banks (see note 5.22).",
"dimensions": {
"concept": "ifrs-full:DisclosureOfInventoriesExplanatory",
"language": "en",
"entity": "scheme:549300D3GNWVMWZD7E21",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s7_notes__6__101-1": {
"value": "The inventory per year-end includes an amount written-off of \u20ac 1 588K (2022: \u20ac 1 502K) because of the lower of cost and market value. The market value is the estimated selling price under normal circumstances less the estimated conversion cost and the estimated costs of realizing the sale (marketing, sales and distribution). The estimated sales price is determined using the LME (London Metal Exchange) quotations for lead. For the antimony price we refer to the current prices in combination with the already contracted purchase and sales contracts.An allowance has been recorded for estimated irrecoverable amounts from the sale of goods of \u20ac 1 046K (2022: \u20ac 1 044K). This allowance has been determined on a case-by-case basis. Balances are written off when sufficiently certain that the receivable is definitely lost.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfImpairmentOfAssetsExplanatory",
"language": "en",
"entity": "scheme:549300D3GNWVMWZD7E21",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s7_notes__6__102-1": {
"value": "5.13. FINANCIAL ASSETSThe board of directors confirms that the carrying amount of trade and other receivables approximates their fair value as those balances are short-term.5.13.1. Trade receivables\u2018000 \u20ac 12/31/2023 12/31/2022Amounts receivable from the sale of goods 32 415 35 619 32 415 35 619 An allowance has been recorded for estimated irrecoverable amounts from the sale of goods of \u20ac 1 046K (2022: \u20ac 1 044K). This allowance has been determined on a case-by-case basis. Balances are written off when sufficiently certain that the receivable is definitely lost. The total amount from sales of goods amounting to \u20ac 32 415K includes \u20ac 20 679K subject to commercial factoring by a credit institute. Based on these receivables the credit institute can deposit advances on the account of Campine (\u20ac 8 883K on 12/31/2023, see note 5.16. Bank borrowings) and afterwards collects the receivables itself. The credit risk stays at Campine and is covered by a credit insurance. There are no significant overdue amounts, older than 30 days, which are not provided for and/or are not fully covered by a credit insurance. Management has evaluated the expected loss provision on trade receivables but concluded that there was no need for a (material) additional provision on top of the specific bad debt provisions already recorded.5.13.2. Other receivables\u2018000 \u20ac 12/31/2023 12/31/2022Other receivables 1 764 2 873 1 764 2 873 Other receivables principally comprise amounts reclaimed V.A.T.5.13.3. Bank balances and cashBank balances and cash comprise cash held by the Group and short-term bank deposits with an original maturity of three months or less. The carrying amount of these assets approximates their fair value.5.13.4. Credit risk The Group\u2019s principal financial assets are bank balances and cash, trade and other receivables. The credit risk on liquid funds is limited because the counterparties are banks with high credit-ratings assigned by international credit-rating agencies.Concentrations of credit risk with respect to trade receivables are limited due to the Group\u2019s customer base being large and unrelated. For more information we refer to the valuation rule 5.2.6. of the consolidated annual accounts in this annual report.Roll-forward of the allowances for doubtful debtors:\u2018000 \u20ac 12/31/2023 12/31/2022Opening allowance doubtful debtors 1 044 1 011 Additions 2 33 Reversals - - Closing allowance doubtful debtors 1 046 1 044 Included in the Group\u2019s trade receivable balance are debtors with a carrying amount of \u20ac 4 455K (2022: \u20ac 2 453K) which are past due at the reporting date but for which the Group has not provided as there has not been a significant change in credit quality and the amounts are still considered recoverable. The Group has taken out a credit insurance for these amounts. The average age of these receivables is 9 days past due (2022: 13 days).5.14. OTHER FINANCIAL ASSETS AND LIABILITIES5.14.1. DerivativesFor a detailed description we refer to accounting policy 5.2.6 Financial instruments mentioned in this report.The table below summarises the net change in fair value \u2013 realised and unrealised \u2013 of the positions on the LME lead / tin futures market where it sells forward lead and tin via future contracts.Fair value ofUnderlying lead\u2018000 \u20accurrent instrumentsvolumes (in ton)On 31 december 2022 -632 5 150 On 31 december 2023 375 4 025The change in fair value in income statement amounts to \u20ac +914K (2022: \u20ac -612K). The fair value of the derivatives are included in the balance sheet as current assets \u2013 derivatives for \u20ac 375K.The classification of the fair value of the hedge instruments is level 1 (unadjusted quoted prices in an active market for identical assets or liabilities) in the \u201cfair value hierarchy\u201d of IFRS 13.5.14.2 Lease obligations Roll forward of right-of-use assets:\u2018000 \u20ac Company carsOn 31 December 2021 373Additions 108Depreciation charge for the year -89Disposals - On 31 December 2022 392Additions 458Depreciation charge for the year -247Disposals - On 31 December 2023 705Leased assets relate to company cars. In 2023 new lease obligations were entered into for an amount of \u20ac 458K. The repayments of operating lease liabilities during 2023 amount to \u20ac 266K. The depreciation charges reached \u20ac 247K and the financial charges amounted to \u20ac 19K.The Group also applies the practical expedients for operating leases of which the contract has a limited duration or operating leases where the underlying assets have a low value.There were no restrictions or purchase options related to the agreements which are not index related. Lease arrangements are negotiated for an average term of four years.5.16. BANK BORROWINGS (LEASE OBLIGATIONS EXCLUDED) \u2018000 \u20ac12/31/2023 12/31/2022Bank loans - investment credit 5 250 8 250Bank overdrafts 4 171 7 994Advances on factoring 8 883 10 95118 304 27 195Repayable borrowingsBank loans after more than one year 3 750 5 250Bank loans within one year 1 500 3 000Bank overdrafts 4 171 7 994Advances on factoring 8 883 10 95118 304 27 195Average interest rates paidBank loans - investment credit 1.86% 1.99%Bank overdrafts 5.70% 2.86%Advances on factoring 4.62% 1.73%Bank loans are arranged at fixed interest rates. Other borrowings (bank overdrafts and advances on factoring: \u20ac13 054K on 12/31/2023 (on 12/31/2022: \u20ac 18 945K)) are arranged at floating rates, thus exposing the Group to an interest rate risk (see note 5.26.1.). On 12/31/2023, the Group had available \u20ac 28 265K (12/31/2022: \u20ac 22 455K) of undrawn committed borrowing facilities.In the credit agreements with our banks a number of covenants are agreed upon based on equity, solvency and stock rotation. On 12/31/2023 Campine complied with all covenants:\u2022 The equity (corrected for intangible fixed assets and deferred taxes) amounted to \u20ac 68 709K on 12/31/2023compared to the required minimum of \u20ac 22 000K.\u2022 The solvency ratio on 12/31/2023 (55%) is in compliance with the required ratio of 30%.\u2022 With a stock rotation of 63 days Campine complied to the stock rotation ratio (< 90 days) on 12/31/2023.Roll-forward van de financi\u00eble verplichtingen en de aansluiting met cash-flow:\u2018000 \u20ac 12/31/2023 Financing cash-flow 12/31/2022Bank overdrafts 4 171 -3 823 7 994Advances on factoring 8 883 -2 068 10 951 Bank loans - investment credit 5 250 -3 000 8 250 18 304 -8 891 27 1955.18.1 Trade payablesTrade creditors and accruals principally comprise amounts outstanding for trade purchases. The board of directors considers that the carrying amount of trade payables approximates their fair value as those balances are short-term.There are no trade payables older than 60 days (with the exception of disputes), hence an age analysis is irrelevant.\u2018000 \u20ac 12/31/2023 12/31/2022Trade creditors and accruals 21 084 23 14321 084 23 1435.20. FINANCIAL INSTRUMENTS The major financial instruments of the Group are financial and trade receivables and payables, investments, cash and cash equivalents as well as derivatives.The financial instruments as on 12/31/2023 are presented below:\u2018000 \u20ac Categories Book value Fair value LevelI. Fixed assetsII. Current AssetsTrade receivables A 32 415 32 415 2 Other receivables A 1 764 1 764 3 Cash and cash equivalents B 3 738 3 738 1 Derivatives C 375 375 1 Total financial instruments on the assets side 38 292 37 917 of the balance sheetI. Non-current liabilitiesInterest-bearing liabilities A 3 750 3 775 2 Obligations under leases A 456 456 2 II. Current liabilitiesInterest-bearing liabilities* A 14 554 14 554 2 Current trade debts A 21 084 21 084 2 Current other debts A 6 125 6 125 3 Obligations under leases A 249 249 2 Total financial instruments on the 46 218 46 243 liabilities side of the balance sheet* Interest-bearing liabilities consist of short term bank loans, bank overdrafts and factoring.The financial instruments as on 12/31/2022 are presented below:\u2018000 \u20ac Categories Book value Fair value LevelI. Fixed assetsII. Current AssetsTrade receivables A 35 619 35 619 2 Other receivables A 2 873 2 873 3 Cash paid in escrow A 57 57 2Cash and cash equivalents B 2 908 2 908 1 Total financial instruments on the assets side 41 457 41 457 of the balance sheetI. Non-current liabilitiesInterest-bearing liabilities A 5 250 5 284 2 Obligations under leases A 184 184 2 II. Current liabilitiesInterest-bearing liabilities* A 21 945 21 945 2 Current trade debts A 23 143 23 143 2 Current other debts A 5 091 5 091 3 Obligations under leases A 208 208 1 Derivatives C 632 632 1 Total financial instruments on the 56 453 56 487 liabilities side of the balance sheet* Interest-bearing liabilities consist of short term bank loans, bank overdrafts and factoring.The categories correspond with the following financial instruments:A. Financial assets or liabilities held until maturity, at the amortised cost. B. Investments held until maturity, at the amortised cost. C. Assets or liabilities, held at the fair value through the profit and loss account.The aggregate financial instruments of the Group correspond with levels 1 and 2 in the fair values hierarchy.\u2022 Level 1: unadjusted quoted prices in an active market for identical assets or liabilities.\u2022 Level 2: the fair value based on other information, which can, directly or indirectly, be determined for the relevant assets or liabilities.\u2022 Level 3: valuation techniques for which the lowest level input that is significant to the fair value measurementis unobservable. The valuation techniques regarding the fair value of the level 2 financial instruments are the following:\u2022 The fair value of the other level 2 financial assets and liabilities is almost equal to their book value:- either because they have a short-term maturity (like trade receivables and debts),- or because they have a variable interest rate.\u2022 For fixed-income payables the fair value was determined using interest rates that apply to active markets.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFinancialInstrumentsExplanatory",
"language": "en",
"entity": "scheme:549300D3GNWVMWZD7E21",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s7_notes__6__103-1": {
"value": "5.13.1. Trade receivables\u2018000 \u20ac 12/31/2023 12/31/2022Amounts receivable from the sale of goods 32 415 35 619 32 415 35 619 An allowance has been recorded for estimated irrecoverable amounts from the sale of goods of \u20ac 1 046K (2022: \u20ac 1 044K). This allowance has been determined on a case-by-case basis. Balances are written off when sufficiently certain that the receivable is definitely lost. The total amount from sales of goods amounting to \u20ac 32 415K includes \u20ac 20 679K subject to commercial factoring by a credit institute. Based on these receivables the credit institute can deposit advances on the account of Campine (\u20ac 8 883K on 12/31/2023, see note 5.16. Bank borrowings) and afterwards collects the receivables itself. The credit risk stays at Campine and is covered by a credit insurance. There are no significant overdue amounts, older than 30 days, which are not provided for and/or are not fully covered by a credit insurance. Management has evaluated the expected loss provision on trade receivables but concluded that there was no need for a (material) additional provision on top of the specific bad debt provisions already recorded.5.13.2. Other receivables\u2018000 \u20ac 12/31/2023 12/31/2022Other receivables 1 764 2 873 1 764 2 873 Other receivables principally comprise amounts reclaimed V.A.T.5.13.4. Credit risk The Group\u2019s principal financial assets are bank balances and cash, trade and other receivables. The credit risk on liquid funds is limited because the counterparties are banks with high credit-ratings assigned by international credit-rating agencies.Concentrations of credit risk with respect to trade receivables are limited due to the Group\u2019s customer base being large and unrelated. For more information we refer to the valuation rule 5.2.6. of the consolidated annual accounts in this annual report.Roll-forward of the allowances for doubtful debtors:\u2018000 \u20ac 12/31/2023 12/31/2022Opening allowance doubtful debtors 1 044 1 011 Additions 2 33 Reversals - - Closing allowance doubtful debtors 1 046 1 044 Included in the Group\u2019s trade receivable balance are debtors with a carrying amount of \u20ac 4 455K (2022: \u20ac 2 453K) which are past due at the reporting date but for which the Group has not provided as there has not been a significant change in credit quality and the amounts are still considered recoverable. The Group has taken out a credit insurance for these amounts. The average age of these receivables is 9 days past due (2022: 13 days).",
"dimensions": {
"concept": "ifrs-full:DisclosureOfTradeAndOtherReceivablesExplanatory",
"language": "en",
"entity": "scheme:549300D3GNWVMWZD7E21",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s7_notes__6__104": {
"value": "An allowance has been recorded for estimated irrecoverable amounts from the sale of goods of \u20ac 1 046K (2022: \u20ac 1 044K). This allowance has been determined on a case-by-case basis. Balances are written off when sufficiently certain that the receivable is definitely lost.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfAllowanceForCreditLossesExplanatory",
"language": "en",
"entity": "scheme:549300D3GNWVMWZD7E21",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s7_notes__6__108": {
"value": "5.13.3. Bank balances and cashBank balances and cash comprise cash held by the Group and short-term bank deposits with an original maturity of three months or less. The carrying amount of these assets approximates their fair value.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfCashAndCashEquivalentsExplanatory",
"language": "en",
"entity": "scheme:549300D3GNWVMWZD7E21",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s7_notes__6__107": {
"value": "5.13.3. Bank balances and cashBank balances and cash comprise cash held by the Group and short-term bank deposits with an original maturity of three months or less. The carrying amount of these assets approximates their fair value.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfDepositsFromBanksExplanatory",
"language": "en",
"entity": "scheme:549300D3GNWVMWZD7E21",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s7_notes__6__111-1": {
"value": "5.13.4. Credit risk The Group\u2019s principal financial assets are bank balances and cash, trade and other receivables. The credit risk on liquid funds is limited because the counterparties are banks with high credit-ratings assigned by international credit-rating agencies.Concentrations of credit risk with respect to trade receivables are limited due to the Group\u2019s customer base being large and unrelated. For more information we refer to the valuation rule 5.2.6. of the consolidated annual accounts in this annual report.Roll-forward of the allowances for doubtful debtors:\u2018000 \u20ac 12/31/2023 12/31/2022Opening allowance doubtful debtors 1 044 1 011 Additions 2 33 Reversals - - Closing allowance doubtful debtors 1 046 1 044 Included in the Group\u2019s trade receivable balance are debtors with a carrying amount of \u20ac 4 455K (2022: \u20ac 2 453K) which are past due at the reporting date but for which the Group has not provided as there has not been a significant change in credit quality and the amounts are still considered recoverable. The Group has taken out a credit insurance for these amounts. The average age of these receivables is 9 days past due (2022: 13 days).5.19. LIQUIDITY RISKThe following table details the Group\u2019s remaining contractual maturity for its non-derivative financial liabilities. The table has been drawn based on the undiscounted cash flows of financial liabilities based on the earliest date on which the Group can be required to pay.12/31/2023 12/31/2022\u2018000 \u20ac< 1 year 1-5 year > 5 year < 1 year 1-5 year > 5 yearTrade liabilities 21 084 - - 23 143 - - Other liabilities 7 748 - - 6 955 - - Bank overdrafts and loans 5 671 3 750 - 10 994 5 250 - Advances on factoring 8 883 - - 10 951 - - Lease obligations 249 456 - 208 184 - Other liabilities consist of other payables, capital grants and provisions for production waste.5.26.1. Interest riskFunding of the company is done through bank loans, bank overdrafts and factoring. On 12/31/2023 bank loans amounted to \u20ac 5 250K, bank overdrafts and advances on factoring amounted to \u20ac 13 054K. Bank loans are arranged at fixed rates. The bank overdrafts and advances on factoring are arranged at variable rates (see note 5.16.).An increase or decrease of the interest with 10% would have an impact on the income statement of \u20ac -65K (in case of 10% increase) or \u20ac +65K (in case of 10% decrease) based upon the amount on 12/31/2023. The retained earnings will also be influenced.5.26.2. Foreign Exchange riskThe Group is managing its foreign currency risk by matching foreign currency cash inflows with foreign cash outflows (USD is our main foreign currency).An increase or decrease of the USD/EUR rate with 10% would have an impact on the income statement of \u20ac -69K (in case of 10% increase) or \u20ac +69K (in case of 10% decrease) based upon the assets and liabilities denominated in USD on 12/31/2023. The retained earnings will also be influenced.5.26.3. Price riskThe value of these fixed price contracts and the future LME commitments are both shown in the balance sheet; changes in the values will be shown in the profit and loss account (see note 5.14.1. Derivatives).There is no price risk on the fixed price contracts as the impact of price fluctuation on respective fixed purchase and sell contracts are compensated by the impact on the respective sell and purchase contracts on the LME.A movement of the LME lead- and tin futures price by 10% would have impacts on the income statement. The immediate effect based on the underlying open position on 12/31/2023 of a price fall of 10% would be \u20ac +482K or of a price raise of 10% would be \u20ac -482K.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFinancialRiskManagementExplanatory",
"language": "en",
"entity": "scheme:549300D3GNWVMWZD7E21",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s7_notes__6__109": {
"value": "5.13.4. Credit risk The Group\u2019s principal financial assets are bank balances and cash, trade and other receivables. The credit risk on liquid funds is limited because the counterparties are banks with high credit-ratings assigned by international credit-rating agencies.Concentrations of credit risk with respect to trade receivables are limited due to the Group\u2019s customer base being large and unrelated. For more information we refer to the valuation rule 5.2.6. of the consolidated annual accounts in this annual report.Roll-forward of the allowances for doubtful debtors:\u2018000 \u20ac 12/31/2023 12/31/2022Opening allowance doubtful debtors 1 044 1 011 Additions 2 33 Reversals - - Closing allowance doubtful debtors 1 046 1 044 Included in the Group\u2019s trade receivable balance are debtors with a carrying amount of \u20ac 4 455K (2022: \u20ac 2 453K) which are past due at the reporting date but for which the Group has not provided as there has not been a significant change in credit quality and the amounts are still considered recoverable. The Group has taken out a credit insurance for these amounts. The average age of these receivables is 9 days past due (2022: 13 days).",
"dimensions": {
"concept": "ifrs-full:DisclosureOfCreditRiskExplanatory",
"language": "en",
"entity": "scheme:549300D3GNWVMWZD7E21",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s7_notes__6__114": {
"value": "5.14.1. DerivativesFor a detailed description we refer to accounting policy 5.2.6 Financial instruments mentioned in this report.The table below summarises the net change in fair value \u2013 realised and unrealised \u2013 of the positions on the LME lead / tin futures market where it sells forward lead and tin via future contracts.Fair value ofUnderlying lead\u2018000 \u20accurrent instrumentsvolumes (in ton)On 31 december 2022 -632 5 150 On 31 december 2023 375 4 025The change in fair value in income statement amounts to \u20ac +914K (2022: \u20ac -612K). The fair value of the derivatives are included in the balance sheet as current assets \u2013 derivatives for \u20ac 375K.The classification of the fair value of the hedge instruments is level 1 (unadjusted quoted prices in an active market for identical assets or liabilities) in the \u201cfair value hierarchy\u201d of IFRS 13.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFinancialInstrumentsAtFairValueThroughProfitOrLossExplanatory",
"language": "en",
"entity": "scheme:549300D3GNWVMWZD7E21",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s7_notes__6__113": {
"value": "5.14.1. DerivativesFor a detailed description we refer to accounting policy 5.2.6 Financial instruments mentioned in this report.The table below summarises the net change in fair value \u2013 realised and unrealised \u2013 of the positions on the LME lead / tin futures market where it sells forward lead and tin via future contracts.Fair value ofUnderlying lead\u2018000 \u20accurrent instrumentsvolumes (in ton)On 31 december 2022 -632 5 150 On 31 december 2023 375 4 025The change in fair value in income statement amounts to \u20ac +914K (2022: \u20ac -612K). The fair value of the derivatives are included in the balance sheet as current assets \u2013 derivatives for \u20ac 375K.The classification of the fair value of the hedge instruments is level 1 (unadjusted quoted prices in an active market for identical assets or liabilities) in the \u201cfair value hierarchy\u201d of IFRS 13.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfDerivativeFinancialInstrumentsExplanatory",
"language": "en",
"entity": "scheme:549300D3GNWVMWZD7E21",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s7_notes__6__115": {
"value": "5.14.2 Lease obligations Roll forward of right-of-use assets:\u2018000 \u20ac Company carsOn 31 December 2021 373Additions 108Depreciation charge for the year -89Disposals - On 31 December 2022 392Additions 458Depreciation charge for the year -247Disposals - On 31 December 2023 705Leased assets relate to company cars. In 2023 new lease obligations were entered into for an amount of \u20ac 458K. The repayments of operating lease liabilities during 2023 amount to \u20ac 266K. The depreciation charges reached \u20ac 247K and the financial charges amounted to \u20ac 19K.The Group also applies the practical expedients for operating leases of which the contract has a limited duration or operating leases where the underlying assets have a low value.There were no restrictions or purchase options related to the agreements which are not index related. Lease arrangements are negotiated for an average term of four years.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfLeasesExplanatory",
"language": "en",
"entity": "scheme:549300D3GNWVMWZD7E21",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s7_notes__6__118": {
"value": "5.15. SHARE CAPITAL\u2018000 \u20ac 12/31/2023 12/31/2022Authorised1 500 000 ordinary shares of par value of 2.67 \u20ac each 4 000 4 000Issued and fully paid 4 000 4 000The company has one class of ordinary shares which carry no right to fixed income.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfShareCapitalReservesAndOtherEquityInterestExplanatory",
"language": "en",
"entity": "scheme:549300D3GNWVMWZD7E21",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s7_notes__6__117": {
"value": "5.15. SHARE CAPITAL\u2018000 \u20ac 12/31/2023 12/31/2022Authorised1 500 000 ordinary shares of par value of 2.67 \u20ac each 4 000 4 000Issued and fully paid 4 000 4 000The company has one class of ordinary shares which carry no right to fixed income.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfIssuedCapitalExplanatory",
"language": "en",
"entity": "scheme:549300D3GNWVMWZD7E21",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s7_notes__6__119": {
"value": "5.16. BANK BORROWINGS (LEASE OBLIGATIONS EXCLUDED) \u2018000 \u20ac12/31/2023 12/31/2022Bank loans - investment credit 5 250 8 250Bank overdrafts 4 171 7 994Advances on factoring 8 883 10 95118 304 27 195Repayable borrowingsBank loans after more than one year 3 750 5 250Bank loans within one year 1 500 3 000Bank overdrafts 4 171 7 994Advances on factoring 8 883 10 95118 304 27 195Average interest rates paidBank loans - investment credit 1.86% 1.99%Bank overdrafts 5.70% 2.86%Advances on factoring 4.62% 1.73%Bank loans are arranged at fixed interest rates. Other borrowings (bank overdrafts and advances on factoring: \u20ac13 054K on 12/31/2023 (on 12/31/2022: \u20ac 18 945K)) are arranged at floating rates, thus exposing the Group to an interest rate risk (see note 5.26.1.). On 12/31/2023, the Group had available \u20ac 28 265K (12/31/2022: \u20ac 22 455K) of undrawn committed borrowing facilities.In the credit agreements with our banks a number of covenants are agreed upon based on equity, solvency and stock rotation. On 12/31/2023 Campine complied with all covenants:\u2022 The equity (corrected for intangible fixed assets and deferred taxes) amounted to \u20ac 68 709K on 12/31/2023compared to the required minimum of \u20ac 22 000K.\u2022 The solvency ratio on 12/31/2023 (55%) is in compliance with the required ratio of 30%.\u2022 With a stock rotation of 63 days Campine complied to the stock rotation ratio (< 90 days) on 12/31/2023.Roll-forward van de financi\u00eble verplichtingen en de aansluiting met cash-flow:\u2018000 \u20ac 12/31/2023 Financing cash-flow 12/31/2022Bank overdrafts 4 171 -3 823 7 994Advances on factoring 8 883 -2 068 10 951 Bank loans - investment credit 5 250 -3 000 8 250 18 304 -8 891 27 195",
"dimensions": {
"concept": "ifrs-full:DisclosureOfBorrowingsExplanatory",
"language": "en",
"entity": "scheme:549300D3GNWVMWZD7E21",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s7_notes__6__121": {
"value": "5.17. DEFERRED TAXThe following are the major deferred tax liabilities and assets recognised by the Group, and the movements thereon, during the current and prior reporting periods.TimingdifferencesPositive Retirement on fixedfair value benefit Fiscal Capital\u2018000 \u20acassetsderivativesobligationslosses Othersgrants TotalOn 31 December 2021 1 - -117 - 12 219 115Charge/(credit) to result for 552 - 26 - -108 -31 439the yearCharge/(credit) to other - - 21 - - - 21comprehensive incomeOn 31 December 2022 553 - -70 - -96 188 575Charge/(credit) to result for -217 94 34 - 121 -32 0the yearCharge/(credit) to other - - -72 - - - -72comprehensive incomeOn 31 December 2023336 94 -108 - 25 156 503 The balance of \u20ac 503K consists of a deferred tax asset ad \u20ac 0K (12/31/2022: \u20ac 166K) and a deferred tax liability of \u20ac 503K (\u20ac 741K on 12/31/2022).",
"dimensions": {
"concept": "ifrs-full:DisclosureOfDeferredTaxesExplanatory",
"language": "en",
"entity": "scheme:549300D3GNWVMWZD7E21",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s7_notes__6__123": {
"value": "5.18. TRADE AND OTHER PAYABLES5.18.1 Trade payablesTrade creditors and accruals principally comprise amounts outstanding for trade purchases. The board of directors considers that the carrying amount of trade payables approximates their fair value as those balances are short-term.There are no trade payables older than 60 days (with the exception of disputes), hence an age analysis is irrelevant.\u2018000 \u20ac 12/31/2023 12/31/2022Trade creditors and accruals 21 084 23 14321 084 23 1435.18.2 Other payables\u2018000 \u20ac 12/31/2023 12/31/2022Other payables and accruals 6 125 5 0916 125 5 091Other payables and accruals principally comprise amounts outstanding for ongoing costs which consist mainly of social security and VAT. 5.18.3 Capital grants\u2018000 \u20ac 12/31/2023 12/31/2022Capital grants 1 065 1 2491 065 1 249Capital grants comprise amounts which are spread in the proceeds. This concerns 2 investments in the Specialty Chemicals division: one at our Belgian site in Beerse (depreciation continues until 2028) and one at our French site in Villefranche (depreciation continues until 2030).",
"dimensions": {
"concept": "ifrs-full:DisclosureOfTradeAndOtherPayablesExplanatory",
"language": "en",
"entity": "scheme:549300D3GNWVMWZD7E21",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s7_notes__6__125": {
"value": "5.18.2 Other payables\u2018000 \u20ac 12/31/2023 12/31/2022Other payables and accruals 6 125 5 0916 125 5 091Other payables and accruals principally comprise amounts outstanding for ongoing costs which consist mainly of social security and VAT.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfAccruedExpensesAndOtherLiabilitiesExplanatory",
"language": "en",
"entity": "scheme:549300D3GNWVMWZD7E21",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s7_notes__6__126": {
"value": "5.18.3 Capital grants\u2018000 \u20ac 12/31/2023 12/31/2022Capital grants 1 065 1 2491 065 1 249Capital grants comprise amounts which are spread in the proceeds. This concerns 2 investments in the Specialty Chemicals division: one at our Belgian site in Beerse (depreciation continues until 2028) and one at our French site in Villefranche (depreciation continues until 2030).",
"dimensions": {
"concept": "ifrs-full:DisclosureOfGovernmentGrantsExplanatory",
"language": "en",
"entity": "scheme:549300D3GNWVMWZD7E21",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s7_notes__6__127": {
"value": "5.19. LIQUIDITY RISKThe following table details the Group\u2019s remaining contractual maturity for its non-derivative financial liabilities. The table has been drawn based on the undiscounted cash flows of financial liabilities based on the earliest date on which the Group can be required to pay.12/31/2023 12/31/2022\u2018000 \u20ac< 1 year 1-5 year > 5 year < 1 year 1-5 year > 5 yearTrade liabilities 21 084 - - 23 143 - - Other liabilities 7 748 - - 6 955 - - Bank overdrafts and loans 5 671 3 750 - 10 994 5 250 - Advances on factoring 8 883 - - 10 951 - - Lease obligations 249 456 - 208 184 - Other liabilities consist of other payables, capital grants and provisions for production waste.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfLiquidityRiskExplanatory",
"language": "en",
"entity": "scheme:549300D3GNWVMWZD7E21",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s7_notes__6__131": {
"value": "5.20. FINANCIAL INSTRUMENTS The major financial instruments of the Group are financial and trade receivables and payables, investments, cash and cash equivalents as well as derivatives.The financial instruments as on 12/31/2023 are presented below:\u2018000 \u20ac Categories Book value Fair value LevelI. Fixed assetsII. Current AssetsTrade receivables A 32 415 32 415 2 Other receivables A 1 764 1 764 3 Cash and cash equivalents B 3 738 3 738 1 Derivatives C 375 375 1 Total financial instruments on the assets side 38 292 37 917 of the balance sheetI. Non-current liabilitiesInterest-bearing liabilities A 3 750 3 775 2 Obligations under leases A 456 456 2 II. Current liabilitiesInterest-bearing liabilities* A 14 554 14 554 2 Current trade debts A 21 084 21 084 2 Current other debts A 6 125 6 125 3 Obligations under leases A 249 249 2 Total financial instruments on the 46 218 46 243 liabilities side of the balance sheet* Interest-bearing liabilities consist of short term bank loans, bank overdrafts and factoring.The financial instruments as on 12/31/2022 are presented below:\u2018000 \u20ac Categories Book value Fair value LevelI. Fixed assetsII. Current AssetsTrade receivables A 35 619 35 619 2 Other receivables A 2 873 2 873 3 Cash paid in escrow A 57 57 2Cash and cash equivalents B 2 908 2 908 1 Total financial instruments on the assets side 41 457 41 457 of the balance sheetI. Non-current liabilitiesInterest-bearing liabilities A 5 250 5 284 2 Obligations under leases A 184 184 2 II. Current liabilitiesInterest-bearing liabilities* A 21 945 21 945 2 Current trade debts A 23 143 23 143 2 Current other debts A 5 091 5 091 3 Obligations under leases A 208 208 1 Derivatives C 632 632 1 Total financial instruments on the 56 453 56 487 liabilities side of the balance sheet* Interest-bearing liabilities consist of short term bank loans, bank overdrafts and factoring.The categories correspond with the following financial instruments:A. Financial assets or liabilities held until maturity, at the amortised cost. B. Investments held until maturity, at the amortised cost. C. Assets or liabilities, held at the fair value through the profit and loss account.The aggregate financial instruments of the Group correspond with levels 1 and 2 in the fair values hierarchy.\u2022 Level 1: unadjusted quoted prices in an active market for identical assets or liabilities.\u2022 Level 2: the fair value based on other information, which can, directly or indirectly, be determined for the relevant assets or liabilities.\u2022 Level 3: valuation techniques for which the lowest level input that is significant to the fair value measurementis unobservable. The valuation techniques regarding the fair value of the level 2 financial instruments are the following:\u2022 The fair value of the other level 2 financial assets and liabilities is almost equal to their book value:- either because they have a short-term maturity (like trade receivables and debts),- or because they have a variable interest rate.\u2022 For fixed-income payables the fair value was determined using interest rates that apply to active markets.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFairValueOfFinancialInstrumentsExplanatory",
"language": "en",
"entity": "scheme:549300D3GNWVMWZD7E21",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s7_notes__6__130": {
"value": "5.20. FINANCIAL INSTRUMENTS The major financial instruments of the Group are financial and trade receivables and payables, investments, cash and cash equivalents as well as derivatives.The financial instruments as on 12/31/2023 are presented below:\u2018000 \u20ac Categories Book value Fair value LevelI. Fixed assetsII. Current AssetsTrade receivables A 32 415 32 415 2 Other receivables A 1 764 1 764 3 Cash and cash equivalents B 3 738 3 738 1 Derivatives C 375 375 1 Total financial instruments on the assets side 38 292 37 917 of the balance sheetI. Non-current liabilitiesInterest-bearing liabilities A 3 750 3 775 2 Obligations under leases A 456 456 2 II. Current liabilitiesInterest-bearing liabilities* A 14 554 14 554 2 Current trade debts A 21 084 21 084 2 Current other debts A 6 125 6 125 3 Obligations under leases A 249 249 2 Total financial instruments on the 46 218 46 243 liabilities side of the balance sheet* Interest-bearing liabilities consist of short term bank loans, bank overdrafts and factoring.The financial instruments as on 12/31/2022 are presented below:\u2018000 \u20ac Categories Book value Fair value LevelI. Fixed assetsII. Current AssetsTrade receivables A 35 619 35 619 2 Other receivables A 2 873 2 873 3 Cash paid in escrow A 57 57 2Cash and cash equivalents B 2 908 2 908 1 Total financial instruments on the assets side 41 457 41 457 of the balance sheetI. Non-current liabilitiesInterest-bearing liabilities A 5 250 5 284 2 Obligations under leases A 184 184 2 II. Current liabilitiesInterest-bearing liabilities* A 21 945 21 945 2 Current trade debts A 23 143 23 143 2 Current other debts A 5 091 5 091 3 Obligations under leases A 208 208 1 Derivatives C 632 632 1 Total financial instruments on the 56 453 56 487 liabilities side of the balance sheet* Interest-bearing liabilities consist of short term bank loans, bank overdrafts and factoring.The categories correspond with the following financial instruments:A. Financial assets or liabilities held until maturity, at the amortised cost. B. Investments held until maturity, at the amortised cost. C. Assets or liabilities, held at the fair value through the profit and loss account.The aggregate financial instruments of the Group correspond with levels 1 and 2 in the fair values hierarchy.\u2022 Level 1: unadjusted quoted prices in an active market for identical assets or liabilities.\u2022 Level 2: the fair value based on other information, which can, directly or indirectly, be determined for the relevant assets or liabilities.\u2022 Level 3: valuation techniques for which the lowest level input that is significant to the fair value measurementis unobservable. The valuation techniques regarding the fair value of the level 2 financial instruments are the following:\u2022 The fair value of the other level 2 financial assets and liabilities is almost equal to their book value:- either because they have a short-term maturity (like trade receivables and debts),- or because they have a variable interest rate.\u2022 For fixed-income payables the fair value was determined using interest rates that apply to active markets.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFairValueMeasurementExplanatory",
"language": "en",
"entity": "scheme:549300D3GNWVMWZD7E21",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s7_notes__6__132": {
"value": "5.21. PROVISIONS AND CLAIMS\u2018000 \u20ac Soil sanitation cost Other TotalOn 31 December 2022 6 065 170 6 235 Additions / Reversals 120 -105 15On 31 December 2023 6 185 65 6 250 \u2018000 \u20ac 12/31/2023 12/31/2022Analysed as:Current liabilities - - Non-current liabilities 6 250 6 2356 250 6 235The provisions amounted to \u20ac 6 250K on 12/31/2023. These mainly relate to the soil sanitation obligation (\u20ac 6 185K) on and around the site of the Group and other environmental items. The provisions were determined in compliance with the requirements of OVAM \u2013 by an independent study bureau.Campine is subject to proceedings, lawsuits and other claims related to products and other matters. We are required to assess the likelihood of any adverse judgments or outcomes to these matters as well as potential ranges of probable and reasonably possible losses. A determination of the amount of liability to be recorded, if any, for these contingencies is made after careful analysis of each individual issue. There are currently no claims for which the probability of a cash outflow is considered possible or probable.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfProvisionsExplanatory",
"language": "en",
"entity": "scheme:549300D3GNWVMWZD7E21",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s7_notes__6__134": {
"value": "5.22. CONTINGENT LIABILITIESThe pledge on trade fund was granted to the banks for a maximum amount of \u20ac 41 250K (12/31/2022: \u20ac 41 250K) but limited to the maximum amount of financing which amounted to \u20ac 18 304K on 12/31/2023 (12/31/2022: \u20ac 27 195K).",
"dimensions": {
"concept": "ifrs-full:DisclosureOfContingentLiabilitiesExplanatory",
"language": "en",
"entity": "scheme:549300D3GNWVMWZD7E21",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s7_notes__6__133-1": {
"value": "5.22. CONTINGENT LIABILITIESThe pledge on trade fund was granted to the banks for a maximum amount of \u20ac 41 250K (12/31/2022: \u20ac 41 250K) but limited to the maximum amount of financing which amounted to \u20ac 18 304K on 12/31/2023 (12/31/2022: \u20ac 27 195K).5.30. RIGHTS AND OBLIGATIONS NOT INCLUDED IN THE BALANCE SHEETCommercial commitments: There are firm commitments to deliver or receive metals to customers or from suppliers at fixed prices.\u2018000 \u20ac 12/31/2023 12/31/2022Commercial commitments for metals purchased (to be received) 15 904 6 729Commercial commitments for metals sold (to be delivered) 17 156 17 336",
"dimensions": {
"concept": "ifrs-full:DisclosureOfCommitmentsAndContingentLiabilitiesExplanatory",
"language": "en",
"entity": "scheme:549300D3GNWVMWZD7E21",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s7_notes__6__135": {
"value": "5.23. SHARE-BASED PAYMENTSDuring the financial year closed on 12/31/2023 none of the members of the executive management team received any shares, share options or other rights to acquire shares of the company or Group.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfSharebasedPaymentArrangementsExplanatory",
"language": "en",
"entity": "scheme:549300D3GNWVMWZD7E21",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s7_notes__6__137": {
"value": "5.24. EMPLOYEE BENEFITS EXPENSE \u2018000 \u20ac 12/31/2023 12/31/2022Long termPension cost (incl. early retirement) 1 029 560 Short termSalaries 16 022 12 964 Contribution social security 4 515 3 881 Structural reduction social contribution -1 064 -1 041Other employee benefits expense 2 282 1 71622 784 18 080 Average number of FTE\u2019s 264 228 The increase in costs is mainly due to the French entities that were included for a full year in 2023 (compared to half a year in 2022) as well as the high indexation applied in 2023. The increase in FTEs is also due to the French entities that were included for a full year in 2023 compared to half a year in 2022.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfInformationAboutEmployeesExplanatory",
"language": "en",
"entity": "scheme:549300D3GNWVMWZD7E21",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s7_notes__6__136-1": {
"value": "5.24. EMPLOYEE BENEFITS EXPENSE \u2018000 \u20ac 12/31/2023 12/31/2022Long termPension cost (incl. early retirement) 1 029 560 Short termSalaries 16 022 12 964 Contribution social security 4 515 3 881 Structural reduction social contribution -1 064 -1 041Other employee benefits expense 2 282 1 71622 784 18 080 Average number of FTE\u2019s 264 228 The increase in costs is mainly due to the French entities that were included for a full year in 2023 (compared to half a year in 2022) as well as the high indexation applied in 2023. The increase in FTEs is also due to the French entities that were included for a full year in 2023 compared to half a year in 2022.5.25. POST RETIREMENT BENEFITSFollowing amounts with regard to the (early) retirement are booked on the balance sheet:\u2018000 \u20ac 12/31/2023 12/31/2022Defined benefit plan 1 196 1 096Early retirement and others provision 606 4141 802 1 5105.25.1. Pension benefit planThe Group operates a funded pension benefit plan for qualifying employees of Campine and its subsidiaries in Belgium. The pension benefit plan foresees an amount based on the salary and seniority payable as of the age of 65. For the financed plans, plan assets consist of mixed portfolios of shares, bonds or insurance contracts. The plan assets do not contain direct investments in Campine shares or in fixed assets or other assets used by the Group.The current plans for which active contributions are paid consist only of \u201cdefined contribution\u201d plans (classified in IFRS as \u201cdefined benefit\u201d plans). Just for white-collar workers with a higher seniority there are still ongoing \u201cdefined benefit\u201d plans, but no active contributions are being paid for these anymore. The current value of the retirement benefit obligations and the assets has evolved as follows: Pension obligation Net liability / '000 \u20ac(IAS 19) Plan Assets Deficit(asset)On 31 December 2022 5 338 -4 242 1 096 1 096Components of defined benefit costService cost in P/L - - - - Current service cost (net of employee contributions) 393 - - 393Past service cost (incl. effect of curtailments) - - - - Settlement (gain)/loss - - - - Service cost 393Net interest on the net liability / (asset) in P/L Interest cost on pension obligation 193 - - 193Interest income on plan assets - -163 - -163Interest on effect of the asset ceiling - - - - Net interest 30Administration costs paid from plan assets in P/L - Components of defined benefit cost recognised in P/L 423Remeasurements of the net liability / (asset) in OCIActuarial (gain) / loss arising from\u2022 Changes in demographic assumptions - - - - \u2022 Changes in financial assumptions 342 - - 342\u2022 Experience adjustments 103 - - 103Return on plan assets (excl. amounts in net interest) - -157 - -157Change in effect of the asset ceiling - - - - (excl. amounts in net interest)Total remeasurement recognised in OCI288Defined benefit cost (total amount recognised) 711Cash FlowsEmployee contributions - - - - Employer contributions to plan assets (incl. 4.4% taxes) - -611 - -611Benefit payments from plan assets -369 369 - 0 Direct benefit payments by employer - - - - Taxes paid from plan assets (4.4%) -23 23 - 0 Taxes paid directly by employer (8.86%) -48 48 - 0 On 31 December 2023 5 929 -4 733 1 196 1 196Pension Net obligation liability / \u2018000 \u20ac(IAS 19) Plan Assets Deficit(asset)On 31 December 2021 6 990 -5 822 1 168 1 168Components of defined benefit costService cost in P/L - - - - Current service cost (net of employee contributions) 481 - - 481Past service cost (incl. effect of curtailments) - - - - Settlement (gain)/loss - - - - Service cost 481Net interest on the net liability / (asset) in P/LInterest cost on pension obligation 68 - - 68Interest income on plan assets - -59 - -59Interest on effect of the asset ceiling - - - - Net interest 9Administration costs paid from plan assets in P/L - Components of defined benefit cost recognised in P/L 490Remeasurements of the net liability / (asset) in OCIActuarial (gain) / loss arising from\u2022 Changes in demographic assumptions - - - - \u2022 Changes in financial assumptions -2 261 - - -2 261\u2022 Experience adjustments 216 - - 216Return on plan assets (excl. amounts in net interest) - 1 963 - 1 963Change in effect of the asset ceiling (excl. amounts in net interest) - - - - Total remeasurement recognised in OCI -82Defined benefit cost (total amount recognised in P/L and OCI) 408Cash FlowsEmployee contributions - - - - Employer contributions to plan assets (incl. 4.4% taxes) - -480 - -480Benefit payments from plan assets -101 101 - 0 Direct benefit payments by employer - - - - Taxes paid from plan assets (4.4%) -18 18 - 0 Taxes paid directly by employer (8.86%) -37 37 - 0 On 31 December 2022 5 338 -4 242 1 096 1 096The average duration of the benefit plan with fixed income is 13 years. The average duration of the benefit plan with fixed costs is 16 years.Major actuarial assumptions in use at balance sheet date:12/31/2023 12/31/2022Discount rate 3.20% 3.80%Expected rate of salary increases 3.10% 3.20%Inflation 2.10% 2.20%Split of the plan assets on balance sheet date:12/31/2023 12/31/2022Equity securities, incl. cash 6% 5%Fixed income securities 94% 95%100 % 100 %Sensitivity analysis of a percentage increase or decrease in the discount rate or an increase in salary to the retirement benefit obligation:Discount rate -0.50% 0.50%Assumptions 2.70% 3.20% 3.70%Pension obligation (K\u20ac) 6 284 5 929 5 629Salary increase -0.50% 0.50%Assumptions 2.60% 3,10% 3.60%Pension obligation (K\u20ac) 5 881 5 929 6 020The Group expects to contribute \u20ac 454K to its defined benefit plans in 2024.5.25.2. Early retirement and others provisionsEarly retirement provisions are set up based on agreements with those affected on amounts to be paid until the age of 65 year. The provision on 12/31/2023 amounts to \u20ac 606K (on 12/31/2022: \u20ac 414K).",
"dimensions": {
"concept": "ifrs-full:DisclosureOfEmployeeBenefitsExplanatory",
"language": "en",
"entity": "scheme:549300D3GNWVMWZD7E21",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s7_notes__6__139": {
"value": "5.26. MARKET RISK5.26.1. Interest riskFunding of the company is done through bank loans, bank overdrafts and factoring. On 12/31/2023 bank loans amounted to \u20ac 5 250K, bank overdrafts and advances on factoring amounted to \u20ac 13 054K. Bank loans are arranged at fixed rates. The bank overdrafts and advances on factoring are arranged at variable rates (see note 5.16.).An increase or decrease of the interest with 10% would have an impact on the income statement of \u20ac -65K (in case of 10% increase) or \u20ac +65K (in case of 10% decrease) based upon the amount on 12/31/2023. The retained earnings will also be influenced.5.26.2. Foreign Exchange riskThe Group is managing its foreign currency risk by matching foreign currency cash inflows with foreign cash outflows (USD is our main foreign currency).An increase or decrease of the USD/EUR rate with 10% would have an impact on the income statement of \u20ac -69K (in case of 10% increase) or \u20ac +69K (in case of 10% decrease) based upon the assets and liabilities denominated in USD on 12/31/2023. The retained earnings will also be influenced.5.26.3. Price riskThe value of these fixed price contracts and the future LME commitments are both shown in the balance sheet; changes in the values will be shown in the profit and loss account (see note 5.14.1. Derivatives).There is no price risk on the fixed price contracts as the impact of price fluctuation on respective fixed purchase and sell contracts are compensated by the impact on the respective sell and purchase contracts on the LME.A movement of the LME lead- and tin futures price by 10% would have impacts on the income statement. The immediate effect based on the underlying open position on 12/31/2023 of a price fall of 10% would be \u20ac +482K or of a price raise of 10% would be \u20ac -482K.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfMarketRiskExplanatory",
"language": "en",
"entity": "scheme:549300D3GNWVMWZD7E21",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s7_notes__6__142": {
"value": "5.26.2. Foreign Exchange riskThe Group is managing its foreign currency risk by matching foreign currency cash inflows with foreign cash outflows (USD is our main foreign currency).An increase or decrease of the USD/EUR rate with 10% would have an impact on the income statement of \u20ac -69K (in case of 10% increase) or \u20ac +69K (in case of 10% decrease) based upon the assets and liabilities denominated in USD on 12/31/2023. The retained earnings will also be influenced.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfEffectOfChangesInForeignExchangeRatesExplanatory",
"language": "en",
"entity": "scheme:549300D3GNWVMWZD7E21",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s7_notes__6__144": {
"value": "5.27. EVENTS AFTER THE BALANCE SHEET DATENo significant events occurred after the close of the year.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfEventsAfterReportingPeriodExplanatory",
"language": "en",
"entity": "scheme:549300D3GNWVMWZD7E21",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s7_notes__6__145-1": {
"value": "5.28. RELATED PARTIESAs to the transparency notification of 9 July 2019 the current shareholder structure of Campine is:Name Number of shares % of the voting rightsF.W. Hempel Metallurgical GmbH1 077 900 71.86%Wei\u00dfensteinstra\u00dfe 70, 46149 Oberhausen, GermanyThe ultimate parent of the Group is the F.W. Hempel Familienstiftung. Mr Friedrich-Wilhelm Hempel is the ultimate controlling person with 71.86% of Campine NV\u2019s voting rights.Transactions between the company and its subsidiaries, which are related parties of the company, have been eliminated on consolidation and are not disclosed in this note. Transactions between the Group and the management and key-management are disclosed in the Remuneration report. Details of transactions between the Group and other related parties are disclosed below.5.29. RELATED PARTY TRANSACTIONS All related party transactions are conducted on a business base and in accordance with all legal requirements and the Corporate Governance Charter.5.29.1. Trading transactions In 2023, Group entities entered into the following trading transactions with related parties that are not members of the Group:\u2022 Purchase of lead wastes from Hempel Legierungsmetalle GmbH for \u20ac 1 783K (2022: \u20ac 832K). Open amount on 12/31/2023: 46K.5.29.2. Other transactionsThe companies below passed through personnel and IT expenses to the Campine Group:\u2022 F.W. Hempel Metallurgical: \u20ac 318K (2022: \u20ac 325K). Open amount on 12/31/2023: \u20ac 20K.\u2022 F.W. Hempel & Co Erze und Metalle: \u20ac 98K (2022: \u20ac 98K). There is no open amount on 12/31/2021. The Campine Group passed through personnel and IT expenses to F.W. Hempel & Co Erze und Metalle: \u2022 F.W. Hempel & Co Erze und Metalle t.b.v. \u20ac 9K (2022: \u20ac 8K). Open amount on 12/31/2023: \u20ac 9K.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfRelatedPartyExplanatory",
"language": "en",
"entity": "scheme:549300D3GNWVMWZD7E21",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s7_notes__6__11": {
"value": "F.W. Hempel Metallurgical GmbH",
"dimensions": {
"concept": "ifrs-full:NameOfParentEntity",
"language": "en",
"entity": "scheme:549300D3GNWVMWZD7E21",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s7_notes__6__12": {
"value": "F.W. Hempel Familienstiftung",
"dimensions": {
"concept": "ifrs-full:NameOfUltimateParentOfGroup",
"language": "en",
"entity": "scheme:549300D3GNWVMWZD7E21",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s7_notes__6__146": {
"value": "5.29. RELATED PARTY TRANSACTIONS All related party transactions are conducted on a business base and in accordance with all legal requirements and the Corporate Governance Charter.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForTransactionsWithRelatedPartiesExplanatory",
"language": "en",
"entity": "scheme:549300D3GNWVMWZD7E21",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s7_notes__6__150": {
"value": "5.30. RIGHTS AND OBLIGATIONS NOT INCLUDED IN THE BALANCE SHEETCommercial commitments: There are firm commitments to deliver or receive metals to customers or from suppliers at fixed prices.\u2018000 \u20ac 12/31/2023 12/31/2022Commercial commitments for metals purchased (to be received) 15 904 6 729Commercial commitments for metals sold (to be delivered) 17 156 17 336",
"dimensions": {
"concept": "ifrs-full:DisclosureOfCommitmentsExplanatory",
"language": "en",
"entity": "scheme:549300D3GNWVMWZD7E21",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s7_notes__6__151": {
"value": "5.31. COMPENSATION OF KEY MANAGEMENT PERSONNEL The total remuneration of the executive management team including the board members amounts to \u20ac 2 692K (2022: \u20ac 2 328K). For further details, we refer to the Remuneration report.\u2018000 \u20ac 12/31/2023 12/31/2022BoardFixed remuneration 142 141Tanti\u00e8me 90 90Executive management team (incl. CEO)Fixed remuneration 1 797 1 507Other benefits 63 53Pension cost 41 38Variable remuneration one year 409 349Variable remuneration multiple year 150 150Total compensation paid to key management personnel 2 692 2 328None of the above-mentioned persons received any shares, share options or other rights to acquire shares of the company or Group. The remuneration of the members of the executive management team is decided upon by the Nomination and Remuneration committee, based on market trends and individual performances.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfInformationAboutKeyManagementPersonnelExplanatory",
"language": "en",
"entity": "scheme:549300D3GNWVMWZD7E21",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s7_notes__6__152": {
"value": "5.32. APPROVAL OF FINANCIAL STATEMENTSThe financial statements were approved by the board of directors and authorised for issue on 14 March 2024.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfAuthorisationOfFinancialStatementsExplanatory",
"language": "en",
"entity": "scheme:549300D3GNWVMWZD7E21",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s7_notes__6__10": {
"value": "Nijverheidsstraat 2 2340 Beerse Belgium",
"dimensions": {
"concept": "ifrs-full:PrincipalPlaceOfBusiness",
"language": "en",
"entity": "scheme:549300D3GNWVMWZD7E21",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s7_notes__6__9": {
"value": "Nijverheidsstraat 2 2340 Beerse Belgium",
"dimensions": {
"concept": "ifrs-full:AddressOfRegisteredOfficeOfEntity",
"language": "en",
"entity": "scheme:549300D3GNWVMWZD7E21",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"s7_notes__6__6": {
"value": "Nijverheidsstraat 2 2340 Beerse Belgium",
"dimensions": {
"concept": "ifrs-full:DomicileOfEntity",
"language": "en",
"entity": "scheme:549300D3GNWVMWZD7E21",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
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}
}