The activities of CM.com N.V. (CM.com) and its group companies (for the list of group companies see note 28) primarily consists of advising, guiding, implementing, and assisting companies approaching its target audience through modern (media) techniques. CM.com N.V. has its legal seat at Konijnenberg 30 at Breda, the Netherlands and is registered at the chamber of commerce under the registration number: 70523770. The shares of CM.com N.V. (the ultimate parent) are listed on Euronext Amsterdam in The Netherlands under ticker symbol CMCOM.
The consolidated financial statements of CM.com have been prepared in accordance with International Financial Reporting Standards (IFRS) as issued by the International Accounting Standards Board (IASB) adopted and endorsed by the European Union (\u201cEU-IFRS\u201d) and with the statutory provisions of Part 9, Book 2 of the Dutch Civil Code.
The Management Board has assessed the going concern assumption, as part of the preparation of the consolidated financial statements. Management's assessment was based on the assumptions used in the business plan 2025-2027. This plan supports the mid-term guidance which focuses on generating EBITDA and cashflow to comfortably meet financial obligations while allowing for continued growth investments. Based on sensitivity scenarios and their outcome, Management believes that the company has adequate resources to continue in operational existence for at least twelve months after the adoption of the financial statements. No events or conditions give rise to doubt on the company's ability to continue as a going concern, therefore continue to adopt the going concern basis of accounting in preparing the financial statements.
The consolidated financial statements have been prepared on the historical cost basis with the exception of financial assets and liabilities, which are valued at fair value through profit or loss or amortized costs. The consolidated financial statements are presented in euros and rounded at thousands unless otherwise stated. The euro is the functional currency of the company.
The financial information relating to CM.com N.V. is presented in the corporate financial statements. The corporate financial statements have been prepared in accordance with sub-article 8 of article 362, Book 2 of the Dutch Civil Code. The accounting policies used to prepare the corporate financial statements are the same as those of the Group.
Current assets are assets that are expected to be realized in the company's normal operating cycle, and are held primarily for trading purposes. They are anticipated to be realized within 12 months after the reporting period. All other assets are considered non-current.
Current liabilities are those expected to be settled within the company's normal operating cycle, held primarily for trading, and due to be settled within 12 months. They also include liabilities for which the entity does not have an unconditional right to defer settlement beyond 12 months (note that settlement by issuing equity instruments does not affect classification). Other liabilities that don't meet (one of) these criteria are classified as non-current.
Transactions in foreign currencies are translated into euro using the exchange rates applicable at transaction date. At reporting date, monetary assets and liabilities denominated in foreign currencies are translated to euro using the rates at reporting date. Exchange rate differences are recognized in profit or loss.
Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date, regardless of whether that price is directly observable or estimated using another valuation technique. As no financial assets and liabilities of the Group, except for the convertible bonds, are traded in active markets, the fair value of financial assets and liabilities is estimated by discounting the future contractual cash flows at current market interest rates that are available to the Group for similar financial assets and liabilities.
Fair value for measurement and/or disclosure purposes in these consolidated financial statements is determined on such a basis, except for share-based payment transactions that are within the scope of IFRS 2 and leasing transactions that are within the scope of IFRS 16. All assets and liabilities for which fair value is measured or disclosed in the consolidated financial statements are categorized within level 2 of the fair value hierarchy as the company uses observable market data for the interest rates.
The different valuation methods are referred to as \"hierarchies\" as described below:
level 1: The fair value is determined using quoted (unadjusted) market prices in active markets for identical assets or liabilities.
level 2: The fair value is calculated using inputs other than quoted prices included within level 1 that are observable for the asset or liability, either directly (that is, as prices) or indirectly (that is, derived from prices) observable.
level 3: The fair value is determined using inputs for the asset or liability that are not based on observable market data (unobservable inputs).
The consolidated financial statements are prepared by consolidating the financial statements of the company and its subsidiaries. Subsidiaries are entities controlled by CM.com. CM.com controls an entity when it has power over the investee, is exposed to or has the right to variable returns from its involvement with that entity, and can influence those returns through its power over the entity. CM.com reassesses whether or not it controls an investee if facts and circumstances indicate that there are changes to one or more of the three elements of control listed above.
Control is generally achieved by owning more than 50% of the voting rights. When the company has less than a majority of the voting rights of an investee, it considers that it has power over the investee when the voting rights are sufficient to give it the practical ability to direct the relevant activities of the investee unilaterally. The company considers all relevant facts and circumstances in assessing whether or not the company\u2019s voting rights in an investee are sufficient to give it power, including:
the size of the company\u2019s holding of voting rights relative to the size and dispersion of holdings of the other vote holders;
potential voting rights held by the company, other vote holders, or other parties;
rights arising from other contractual arrangements;
any additional facts and circumstances that indicate that the company has, or does not have, the current ability to direct the relevant activities at the time that decisions need to be made, including voting patterns at previous shareholders\u2019 meetings.
The financial statements of subsidiaries are included in the consolidated financial statements from the date control begins until the date control ends. Accounting policies of subsidiaries have been adjusted where necessary to align with the policies adopted by CM.com. Specifically, the results of subsidiaries acquired or disposed of during the year are included in profit or loss from the date CM.com gains control until the date that CM.com ceases to control the subsidiary or foundation.
During consolidation, intercompany balances and transactions, cash flows relating to transactions between members of the group and any unrealised gains and losses or income and expenses from intercompany transactions, are eliminated. Unrealised gains from transactions with associates are eliminated against the investment to the extent of CM.com\u2019s interest in the investee. Unrealised losses are eliminated in the same way as unrealised gains, but only if there is no indication of impairment. Where necessary, adjustments are made to the financial statements of subsidiaries to bring the accounting policies used in line with CM.com\u2019s accounting policies.
", "dimensions": { "concept": "ifrs-full:DisclosureOfNotesAndOtherExplanatoryInformationExplanatory", "language": "en", "entity": "scheme:724500QDJRUMSPRDHW25", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "section-blocktag-i4156-1": { "value": "The activities of CM.com N.V. (CM.com) and its group companies (for the list of group companies see note 28) primarily consists of advising, guiding, implementing, and assisting companies approaching its target audience through modern (media) techniques. CM.com N.V. has its legal seat at Konijnenberg 30 at Breda, the Netherlands and is registered at the chamber of commerce under the registration number: 70523770. The shares of CM.com N.V. (the ultimate parent) are listed on Euronext Amsterdam in The Netherlands under ticker symbol CMCOM.
The consolidated financial statements of CM.com have been prepared in accordance with International Financial Reporting Standards (IFRS) as issued by the International Accounting Standards Board (IASB) adopted and endorsed by the European Union (\u201cEU-IFRS\u201d) and with the statutory provisions of Part 9, Book 2 of the Dutch Civil Code.
The Management Board has assessed the going concern assumption, as part of the preparation of the consolidated financial statements. Management's assessment was based on the assumptions used in the business plan 2025-2027. This plan supports the mid-term guidance which focuses on generating EBITDA and cashflow to comfortably meet financial obligations while allowing for continued growth investments. Based on sensitivity scenarios and their outcome, Management believes that the company has adequate resources to continue in operational existence for at least twelve months after the adoption of the financial statements. No events or conditions give rise to doubt on the company's ability to continue as a going concern, therefore continue to adopt the going concern basis of accounting in preparing the financial statements.
The consolidated financial statements have been prepared on the historical cost basis with the exception of financial assets and liabilities, which are valued at fair value through profit or loss or amortized costs. The consolidated financial statements are presented in euros and rounded at thousands unless otherwise stated. The euro is the functional currency of the company.
The financial information relating to CM.com N.V. is presented in the corporate financial statements. The corporate financial statements have been prepared in accordance with sub-article 8 of article 362, Book 2 of the Dutch Civil Code. The accounting policies used to prepare the corporate financial statements are the same as those of the Group.
Current assets are assets that are expected to be realized in the company's normal operating cycle, and are held primarily for trading purposes. They are anticipated to be realized within 12 months after the reporting period. All other assets are considered non-current.
Current liabilities are those expected to be settled within the company's normal operating cycle, held primarily for trading, and due to be settled within 12 months. They also include liabilities for which the entity does not have an unconditional right to defer settlement beyond 12 months (note that settlement by issuing equity instruments does not affect classification). Other liabilities that don't meet (one of) these criteria are classified as non-current.
Transactions in foreign currencies are translated into euro using the exchange rates applicable at transaction date. At reporting date, monetary assets and liabilities denominated in foreign currencies are translated to euro using the rates at reporting date. Exchange rate differences are recognized in profit or loss.
Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date, regardless of whether that price is directly observable or estimated using another valuation technique. As no financial assets and liabilities of the Group, except for the convertible bonds, are traded in active markets, the fair value of financial assets and liabilities is estimated by discounting the future contractual cash flows at current market interest rates that are available to the Group for similar financial assets and liabilities.
Fair value for measurement and/or disclosure purposes in these consolidated financial statements is determined on such a basis, except for share-based payment transactions that are within the scope of IFRS 2 and leasing transactions that are within the scope of IFRS 16. All assets and liabilities for which fair value is measured or disclosed in the consolidated financial statements are categorized within level 2 of the fair value hierarchy as the company uses observable market data for the interest rates.
The different valuation methods are referred to as \"hierarchies\" as described below:
level 1: The fair value is determined using quoted (unadjusted) market prices in active markets for identical assets or liabilities.
level 2: The fair value is calculated using inputs other than quoted prices included within level 1 that are observable for the asset or liability, either directly (that is, as prices) or indirectly (that is, derived from prices) observable.
level 3: The fair value is determined using inputs for the asset or liability that are not based on observable market data (unobservable inputs).
The consolidated financial statements are prepared by consolidating the financial statements of the company and its subsidiaries. Subsidiaries are entities controlled by CM.com. CM.com controls an entity when it has power over the investee, is exposed to or has the right to variable returns from its involvement with that entity, and can influence those returns through its power over the entity. CM.com reassesses whether or not it controls an investee if facts and circumstances indicate that there are changes to one or more of the three elements of control listed above.
Control is generally achieved by owning more than 50% of the voting rights. When the company has less than a majority of the voting rights of an investee, it considers that it has power over the investee when the voting rights are sufficient to give it the practical ability to direct the relevant activities of the investee unilaterally. The company considers all relevant facts and circumstances in assessing whether or not the company\u2019s voting rights in an investee are sufficient to give it power, including:
the size of the company\u2019s holding of voting rights relative to the size and dispersion of holdings of the other vote holders;
potential voting rights held by the company, other vote holders, or other parties;
rights arising from other contractual arrangements;
any additional facts and circumstances that indicate that the company has, or does not have, the current ability to direct the relevant activities at the time that decisions need to be made, including voting patterns at previous shareholders\u2019 meetings.
The financial statements of subsidiaries are included in the consolidated financial statements from the date control begins until the date control ends. Accounting policies of subsidiaries have been adjusted where necessary to align with the policies adopted by CM.com. Specifically, the results of subsidiaries acquired or disposed of during the year are included in profit or loss from the date CM.com gains control until the date that CM.com ceases to control the subsidiary or foundation.
During consolidation, intercompany balances and transactions, cash flows relating to transactions between members of the group and any unrealised gains and losses or income and expenses from intercompany transactions, are eliminated. Unrealised gains from transactions with associates are eliminated against the investment to the extent of CM.com\u2019s interest in the investee. Unrealised losses are eliminated in the same way as unrealised gains, but only if there is no indication of impairment. Where necessary, adjustments are made to the financial statements of subsidiaries to bring the accounting policies used in line with CM.com\u2019s accounting policies.
", "dimensions": { "concept": "ifrs-full:DisclosureOfGeneralInformationAboutFinancialStatementsExplanatory", "language": "en", "entity": "scheme:724500QDJRUMSPRDHW25", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "general-data-entity-i4157": { "value": "CM.com N.V.", "dimensions": { "concept": "ifrs-full:NameOfReportingEntityOrOtherMeansOfIdentification", "language": "en", "entity": "scheme:724500QDJRUMSPRDHW25", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "general-data-natureofoperations-i4158": { "value": "primarily consists of advising, guiding, implementing, and assisting companies approaching its target audience through modern (media) techniques.", "dimensions": { "concept": "ifrs-full:DescriptionOfNatureOfEntitysOperationsAndPrincipalActivities", "language": "en", "entity": "scheme:724500QDJRUMSPRDHW25", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "general-data-legalform-i4159": { "value": "N.V.", "dimensions": { "concept": "ifrs-full:LegalFormOfEntity", "language": "en", "entity": "scheme:724500QDJRUMSPRDHW25", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "general-data-address-i4160": { "value": "Konijnenberg 30 at Breda", "dimensions": { "concept": "ifrs-full:AddressOfRegisteredOfficeOfEntity", "language": "en", "entity": "scheme:724500QDJRUMSPRDHW25", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "general-data-country-i4161": { "value": "the Netherlands", "dimensions": { "concept": "ifrs-full:CountryOfIncorporation", "language": "en", "entity": "scheme:724500QDJRUMSPRDHW25", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "general-data-domicile-i4162": { "value": "The Netherlands", "dimensions": { "concept": "ifrs-full:DomicileOfEntity", "language": "en", "entity": "scheme:724500QDJRUMSPRDHW25", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "section-blocktag-i4164-1": { "value": "The consolidated financial statements of CM.com have been prepared in accordance with International Financial Reporting Standards (IFRS) as issued by the International Accounting Standards Board (IASB) adopted and endorsed by the European Union (\u201cEU-IFRS\u201d) and with the statutory provisions of Part 9, Book 2 of the Dutch Civil Code.
The Management Board has assessed the going concern assumption, as part of the preparation of the consolidated financial statements. Management's assessment was based on the assumptions used in the business plan 2025-2027. This plan supports the mid-term guidance which focuses on generating EBITDA and cashflow to comfortably meet financial obligations while allowing for continued growth investments. Based on sensitivity scenarios and their outcome, Management believes that the company has adequate resources to continue in operational existence for at least twelve months after the adoption of the financial statements. No events or conditions give rise to doubt on the company's ability to continue as a going concern, therefore continue to adopt the going concern basis of accounting in preparing the financial statements.
The consolidated financial statements have been prepared on the historical cost basis with the exception of financial assets and liabilities, which are valued at fair value through profit or loss or amortized costs. The consolidated financial statements are presented in euros and rounded at thousands unless otherwise stated. The euro is the functional currency of the company.
The financial information relating to CM.com N.V. is presented in the corporate financial statements. The corporate financial statements have been prepared in accordance with sub-article 8 of article 362, Book 2 of the Dutch Civil Code. The accounting policies used to prepare the corporate financial statements are the same as those of the Group.
Current assets are assets that are expected to be realized in the company's normal operating cycle, and are held primarily for trading purposes. They are anticipated to be realized within 12 months after the reporting period. All other assets are considered non-current.
Current liabilities are those expected to be settled within the company's normal operating cycle, held primarily for trading, and due to be settled within 12 months. They also include liabilities for which the entity does not have an unconditional right to defer settlement beyond 12 months (note that settlement by issuing equity instruments does not affect classification). Other liabilities that don't meet (one of) these criteria are classified as non-current.
Transactions in foreign currencies are translated into euro using the exchange rates applicable at transaction date. At reporting date, monetary assets and liabilities denominated in foreign currencies are translated to euro using the rates at reporting date. Exchange rate differences are recognized in profit or loss.
Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date, regardless of whether that price is directly observable or estimated using another valuation technique. As no financial assets and liabilities of the Group, except for the convertible bonds, are traded in active markets, the fair value of financial assets and liabilities is estimated by discounting the future contractual cash flows at current market interest rates that are available to the Group for similar financial assets and liabilities.
Fair value for measurement and/or disclosure purposes in these consolidated financial statements is determined on such a basis, except for share-based payment transactions that are within the scope of IFRS 2 and leasing transactions that are within the scope of IFRS 16. All assets and liabilities for which fair value is measured or disclosed in the consolidated financial statements are categorized within level 2 of the fair value hierarchy as the company uses observable market data for the interest rates.
The different valuation methods are referred to as \"hierarchies\" as described below:
level 1: The fair value is determined using quoted (unadjusted) market prices in active markets for identical assets or liabilities.
level 2: The fair value is calculated using inputs other than quoted prices included within level 1 that are observable for the asset or liability, either directly (that is, as prices) or indirectly (that is, derived from prices) observable.
level 3: The fair value is determined using inputs for the asset or liability that are not based on observable market data (unobservable inputs).
The consolidated financial statements of CM.com have been prepared in accordance with International Financial Reporting Standards (IFRS) as issued by the International Accounting Standards Board (IASB) adopted and endorsed by the European Union (\u201cEU-IFRS\u201d) and with the statutory provisions of Part 9, Book 2 of the Dutch Civil Code.
The Management Board has assessed the going concern assumption, as part of the preparation of the consolidated financial statements. Management's assessment was based on the assumptions used in the business plan 2025-2027. This plan supports the mid-term guidance which focuses on generating EBITDA and cashflow to comfortably meet financial obligations while allowing for continued growth investments. Based on sensitivity scenarios and their outcome, Management believes that the company has adequate resources to continue in operational existence for at least twelve months after the adoption of the financial statements. No events or conditions give rise to doubt on the company's ability to continue as a going concern, therefore continue to adopt the going concern basis of accounting in preparing the financial statements.
The consolidated financial statements have been prepared on the historical cost basis with the exception of financial assets and liabilities, which are valued at fair value through profit or loss or amortized costs. The consolidated financial statements are presented in euros and rounded at thousands unless otherwise stated. The euro is the functional currency of the company.
The financial information relating to CM.com N.V. is presented in the corporate financial statements. The corporate financial statements have been prepared in accordance with sub-article 8 of article 362, Book 2 of the Dutch Civil Code. The accounting policies used to prepare the corporate financial statements are the same as those of the Group.
Current assets are assets that are expected to be realized in the company's normal operating cycle, and are held primarily for trading purposes. They are anticipated to be realized within 12 months after the reporting period. All other assets are considered non-current.
Current liabilities are those expected to be settled within the company's normal operating cycle, held primarily for trading, and due to be settled within 12 months. They also include liabilities for which the entity does not have an unconditional right to defer settlement beyond 12 months (note that settlement by issuing equity instruments does not affect classification). Other liabilities that don't meet (one of) these criteria are classified as non-current.
Transactions in foreign currencies are translated into euro using the exchange rates applicable at transaction date. At reporting date, monetary assets and liabilities denominated in foreign currencies are translated to euro using the rates at reporting date. Exchange rate differences are recognized in profit or loss.
Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date, regardless of whether that price is directly observable or estimated using another valuation technique. As no financial assets and liabilities of the Group, except for the convertible bonds, are traded in active markets, the fair value of financial assets and liabilities is estimated by discounting the future contractual cash flows at current market interest rates that are available to the Group for similar financial assets and liabilities.
Fair value for measurement and/or disclosure purposes in these consolidated financial statements is determined on such a basis, except for share-based payment transactions that are within the scope of IFRS 2 and leasing transactions that are within the scope of IFRS 16. All assets and liabilities for which fair value is measured or disclosed in the consolidated financial statements are categorized within level 2 of the fair value hierarchy as the company uses observable market data for the interest rates.
The different valuation methods are referred to as \"hierarchies\" as described below:
level 1: The fair value is determined using quoted (unadjusted) market prices in active markets for identical assets or liabilities.
level 2: The fair value is calculated using inputs other than quoted prices included within level 1 that are observable for the asset or liability, either directly (that is, as prices) or indirectly (that is, derived from prices) observable.
level 3: The fair value is determined using inputs for the asset or liability that are not based on observable market data (unobservable inputs).
The consolidated financial statements of CM.com have been prepared in accordance with International Financial Reporting Standards (IFRS) as issued by the International Accounting Standards Board (IASB) adopted and endorsed by the European Union (\u201cEU-IFRS\u201d) and with the statutory provisions of Part 9, Book 2 of the Dutch Civil Code.
The Management Board has assessed the going concern assumption, as part of the preparation of the consolidated financial statements. Management's assessment was based on the assumptions used in the business plan 2025-2027. This plan supports the mid-term guidance which focuses on generating EBITDA and cashflow to comfortably meet financial obligations while allowing for continued growth investments. Based on sensitivity scenarios and their outcome, Management believes that the company has adequate resources to continue in operational existence for at least twelve months after the adoption of the financial statements. No events or conditions give rise to doubt on the company's ability to continue as a going concern, therefore continue to adopt the going concern basis of accounting in preparing the financial statements.
The consolidated financial statements have been prepared on the historical cost basis with the exception of financial assets and liabilities, which are valued at fair value through profit or loss or amortized costs. The consolidated financial statements are presented in euros and rounded at thousands unless otherwise stated. The euro is the functional currency of the company.
The financial information relating to CM.com N.V. is presented in the corporate financial statements. The corporate financial statements have been prepared in accordance with sub-article 8 of article 362, Book 2 of the Dutch Civil Code. The accounting policies used to prepare the corporate financial statements are the same as those of the Group.
Current assets are assets that are expected to be realized in the company's normal operating cycle, and are held primarily for trading purposes. They are anticipated to be realized within 12 months after the reporting period. All other assets are considered non-current.
Current liabilities are those expected to be settled within the company's normal operating cycle, held primarily for trading, and due to be settled within 12 months. They also include liabilities for which the entity does not have an unconditional right to defer settlement beyond 12 months (note that settlement by issuing equity instruments does not affect classification). Other liabilities that don't meet (one of) these criteria are classified as non-current.
Transactions in foreign currencies are translated into euro using the exchange rates applicable at transaction date. At reporting date, monetary assets and liabilities denominated in foreign currencies are translated to euro using the rates at reporting date. Exchange rate differences are recognized in profit or loss.
Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date, regardless of whether that price is directly observable or estimated using another valuation technique. As no financial assets and liabilities of the Group, except for the convertible bonds, are traded in active markets, the fair value of financial assets and liabilities is estimated by discounting the future contractual cash flows at current market interest rates that are available to the Group for similar financial assets and liabilities.
Fair value for measurement and/or disclosure purposes in these consolidated financial statements is determined on such a basis, except for share-based payment transactions that are within the scope of IFRS 2 and leasing transactions that are within the scope of IFRS 16. All assets and liabilities for which fair value is measured or disclosed in the consolidated financial statements are categorized within level 2 of the fair value hierarchy as the company uses observable market data for the interest rates.
The different valuation methods are referred to as \"hierarchies\" as described below:
level 1: The fair value is determined using quoted (unadjusted) market prices in active markets for identical assets or liabilities.
level 2: The fair value is calculated using inputs other than quoted prices included within level 1 that are observable for the asset or liability, either directly (that is, as prices) or indirectly (that is, derived from prices) observable.
level 3: The fair value is determined using inputs for the asset or liability that are not based on observable market data (unobservable inputs).
The consolidated financial statements of CM.com have been prepared in accordance with International Financial Reporting Standards (IFRS) as issued by the International Accounting Standards Board (IASB) adopted and endorsed by the European Union (\u201cEU-IFRS\u201d) and with the statutory provisions of Part 9, Book 2 of the Dutch Civil Code.
The Management Board has assessed the going concern assumption, as part of the preparation of the consolidated financial statements. Management's assessment was based on the assumptions used in the business plan 2025-2027. This plan supports the mid-term guidance which focuses on generating EBITDA and cashflow to comfortably meet financial obligations while allowing for continued growth investments. Based on sensitivity scenarios and their outcome, Management believes that the company has adequate resources to continue in operational existence for at least twelve months after the adoption of the financial statements. No events or conditions give rise to doubt on the company's ability to continue as a going concern, therefore continue to adopt the going concern basis of accounting in preparing the financial statements.
The consolidated financial statements have been prepared on the historical cost basis with the exception of financial assets and liabilities, which are valued at fair value through profit or loss or amortized costs. The consolidated financial statements are presented in euros and rounded at thousands unless otherwise stated. The euro is the functional currency of the company.
The financial information relating to CM.com N.V. is presented in the corporate financial statements. The corporate financial statements have been prepared in accordance with sub-article 8 of article 362, Book 2 of the Dutch Civil Code. The accounting policies used to prepare the corporate financial statements are the same as those of the Group.
Current assets are assets that are expected to be realized in the company's normal operating cycle, and are held primarily for trading purposes. They are anticipated to be realized within 12 months after the reporting period. All other assets are considered non-current.
Current liabilities are those expected to be settled within the company's normal operating cycle, held primarily for trading, and due to be settled within 12 months. They also include liabilities for which the entity does not have an unconditional right to defer settlement beyond 12 months (note that settlement by issuing equity instruments does not affect classification). Other liabilities that don't meet (one of) these criteria are classified as non-current.
Transactions in foreign currencies are translated into euro using the exchange rates applicable at transaction date. At reporting date, monetary assets and liabilities denominated in foreign currencies are translated to euro using the rates at reporting date. Exchange rate differences are recognized in profit or loss.
Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date, regardless of whether that price is directly observable or estimated using another valuation technique. As no financial assets and liabilities of the Group, except for the convertible bonds, are traded in active markets, the fair value of financial assets and liabilities is estimated by discounting the future contractual cash flows at current market interest rates that are available to the Group for similar financial assets and liabilities.
Fair value for measurement and/or disclosure purposes in these consolidated financial statements is determined on such a basis, except for share-based payment transactions that are within the scope of IFRS 2 and leasing transactions that are within the scope of IFRS 16. All assets and liabilities for which fair value is measured or disclosed in the consolidated financial statements are categorized within level 2 of the fair value hierarchy as the company uses observable market data for the interest rates.
The different valuation methods are referred to as \"hierarchies\" as described below:
level 1: The fair value is determined using quoted (unadjusted) market prices in active markets for identical assets or liabilities.
level 2: The fair value is calculated using inputs other than quoted prices included within level 1 that are observable for the asset or liability, either directly (that is, as prices) or indirectly (that is, derived from prices) observable.
level 3: The fair value is determined using inputs for the asset or liability that are not based on observable market data (unobservable inputs).
The consolidated financial statements of CM.com have been prepared in accordance with International Financial Reporting Standards (IFRS) as issued by the International Accounting Standards Board (IASB) adopted and endorsed by the European Union (\u201cEU-IFRS\u201d) and with the statutory provisions of Part 9, Book 2 of the Dutch Civil Code.
The Management Board has assessed the going concern assumption, as part of the preparation of the consolidated financial statements. Management's assessment was based on the assumptions used in the business plan 2025-2027. This plan supports the mid-term guidance which focuses on generating EBITDA and cashflow to comfortably meet financial obligations while allowing for continued growth investments. Based on sensitivity scenarios and their outcome, Management believes that the company has adequate resources to continue in operational existence for at least twelve months after the adoption of the financial statements. No events or conditions give rise to doubt on the company's ability to continue as a going concern, therefore continue to adopt the going concern basis of accounting in preparing the financial statements.
The consolidated financial statements have been prepared on the historical cost basis with the exception of financial assets and liabilities, which are valued at fair value through profit or loss or amortized costs. The consolidated financial statements are presented in euros and rounded at thousands unless otherwise stated. The euro is the functional currency of the company.
The financial information relating to CM.com N.V. is presented in the corporate financial statements. The corporate financial statements have been prepared in accordance with sub-article 8 of article 362, Book 2 of the Dutch Civil Code. The accounting policies used to prepare the corporate financial statements are the same as those of the Group.
Current assets are assets that are expected to be realized in the company's normal operating cycle, and are held primarily for trading purposes. They are anticipated to be realized within 12 months after the reporting period. All other assets are considered non-current.
Current liabilities are those expected to be settled within the company's normal operating cycle, held primarily for trading, and due to be settled within 12 months. They also include liabilities for which the entity does not have an unconditional right to defer settlement beyond 12 months (note that settlement by issuing equity instruments does not affect classification). Other liabilities that don't meet (one of) these criteria are classified as non-current.
Transactions in foreign currencies are translated into euro using the exchange rates applicable at transaction date. At reporting date, monetary assets and liabilities denominated in foreign currencies are translated to euro using the rates at reporting date. Exchange rate differences are recognized in profit or loss.
Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date, regardless of whether that price is directly observable or estimated using another valuation technique. As no financial assets and liabilities of the Group, except for the convertible bonds, are traded in active markets, the fair value of financial assets and liabilities is estimated by discounting the future contractual cash flows at current market interest rates that are available to the Group for similar financial assets and liabilities.
Fair value for measurement and/or disclosure purposes in these consolidated financial statements is determined on such a basis, except for share-based payment transactions that are within the scope of IFRS 2 and leasing transactions that are within the scope of IFRS 16. All assets and liabilities for which fair value is measured or disclosed in the consolidated financial statements are categorized within level 2 of the fair value hierarchy as the company uses observable market data for the interest rates.
The different valuation methods are referred to as \"hierarchies\" as described below:
level 1: The fair value is determined using quoted (unadjusted) market prices in active markets for identical assets or liabilities.
level 2: The fair value is calculated using inputs other than quoted prices included within level 1 that are observable for the asset or liability, either directly (that is, as prices) or indirectly (that is, derived from prices) observable.
level 3: The fair value is determined using inputs for the asset or liability that are not based on observable market data (unobservable inputs).
The consolidated financial statements are prepared by consolidating the financial statements of the company and its subsidiaries. Subsidiaries are entities controlled by CM.com. CM.com controls an entity when it has power over the investee, is exposed to or has the right to variable returns from its involvement with that entity, and can influence those returns through its power over the entity. CM.com reassesses whether or not it controls an investee if facts and circumstances indicate that there are changes to one or more of the three elements of control listed above.
Control is generally achieved by owning more than 50% of the voting rights. When the company has less than a majority of the voting rights of an investee, it considers that it has power over the investee when the voting rights are sufficient to give it the practical ability to direct the relevant activities of the investee unilaterally. The company considers all relevant facts and circumstances in assessing whether or not the company\u2019s voting rights in an investee are sufficient to give it power, including:
the size of the company\u2019s holding of voting rights relative to the size and dispersion of holdings of the other vote holders;
potential voting rights held by the company, other vote holders, or other parties;
rights arising from other contractual arrangements;
any additional facts and circumstances that indicate that the company has, or does not have, the current ability to direct the relevant activities at the time that decisions need to be made, including voting patterns at previous shareholders\u2019 meetings.
The financial statements of subsidiaries are included in the consolidated financial statements from the date control begins until the date control ends. Accounting policies of subsidiaries have been adjusted where necessary to align with the policies adopted by CM.com. Specifically, the results of subsidiaries acquired or disposed of during the year are included in profit or loss from the date CM.com gains control until the date that CM.com ceases to control the subsidiary or foundation.
During consolidation, intercompany balances and transactions, cash flows relating to transactions between members of the group and any unrealised gains and losses or income and expenses from intercompany transactions, are eliminated. Unrealised gains from transactions with associates are eliminated against the investment to the extent of CM.com\u2019s interest in the investee. Unrealised losses are eliminated in the same way as unrealised gains, but only if there is no indication of impairment. Where necessary, adjustments are made to the financial statements of subsidiaries to bring the accounting policies used in line with CM.com\u2019s accounting policies.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForSubsidiariesExplanatory", "language": "en", "entity": "scheme:724500QDJRUMSPRDHW25", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "section-blocktag-i4165-2": { "value": "The consolidated financial statements are prepared by consolidating the financial statements of the company and its subsidiaries. Subsidiaries are entities controlled by CM.com. CM.com controls an entity when it has power over the investee, is exposed to or has the right to variable returns from its involvement with that entity, and can influence those returns through its power over the entity. CM.com reassesses whether or not it controls an investee if facts and circumstances indicate that there are changes to one or more of the three elements of control listed above.
Control is generally achieved by owning more than 50% of the voting rights. When the company has less than a majority of the voting rights of an investee, it considers that it has power over the investee when the voting rights are sufficient to give it the practical ability to direct the relevant activities of the investee unilaterally. The company considers all relevant facts and circumstances in assessing whether or not the company\u2019s voting rights in an investee are sufficient to give it power, including:
the size of the company\u2019s holding of voting rights relative to the size and dispersion of holdings of the other vote holders;
potential voting rights held by the company, other vote holders, or other parties;
rights arising from other contractual arrangements;
any additional facts and circumstances that indicate that the company has, or does not have, the current ability to direct the relevant activities at the time that decisions need to be made, including voting patterns at previous shareholders\u2019 meetings.
The financial statements of subsidiaries are included in the consolidated financial statements from the date control begins until the date control ends. Accounting policies of subsidiaries have been adjusted where necessary to align with the policies adopted by CM.com. Specifically, the results of subsidiaries acquired or disposed of during the year are included in profit or loss from the date CM.com gains control until the date that CM.com ceases to control the subsidiary or foundation.
During consolidation, intercompany balances and transactions, cash flows relating to transactions between members of the group and any unrealised gains and losses or income and expenses from intercompany transactions, are eliminated. Unrealised gains from transactions with associates are eliminated against the investment to the extent of CM.com\u2019s interest in the investee. Unrealised losses are eliminated in the same way as unrealised gains, but only if there is no indication of impairment. Where necessary, adjustments are made to the financial statements of subsidiaries to bring the accounting policies used in line with CM.com\u2019s accounting policies.
", "dimensions": { "concept": "ifrs-full:DisclosureOfBasisOfConsolidationExplanatory", "language": "en", "entity": "scheme:724500QDJRUMSPRDHW25", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "section-blocktag-i4166-1": { "value": "CM.com\u2019s operations are divided into segments, reflecting our business unit structure. Management monitors business performance at Gross profit level and overall costs. Not all costs, assets, and liabilities are directly allocated to CM.com\u2019s segments, and therefore not presented as such. Non-current assets, such as intangible assets, goodwill and property, plant, and equipment, are mainly located in the Netherlands.
Since 2024, CM.com\u2019s operating segments consist of Connect, Engage, Pay, and Live.
Connect revenue consists of omnichannel messaging (such as Bulk SMS, WhatsApp, Apple Business Chat, and RCS) and voice services that form part of CM.com's core service offering. Revenue from these products can be transactional and are recorded when they occur (point-in-time) or as part of a subscription plan being recorded on a straight-line basis over the duration of the contract. The cost of services for the Connect segment comprises primarily of fees paid to mobile network operators and OTT providers for the purchase of mobile messages, voice, mobile data capacity, and OTT communication capabilities.
Engage revenue consists of a portfolio of services that contribute to the optimization of our client\u2019s mobile business journey with their (potential) clients. Subscription fees are charged for access to these platform features. Revenue for these services is recognized on a straight-line basis over the duration of the contract. The cost of services for the Engage segment comprises primarily of fees paid to suppliers of CM.com\u2019s supplementary platform features, data, email, digital signing, identification, and verification services.
Pay revenue is derived from online and in-person payments and consists of settlement- and start-rate fees, hardware sales, and service-level agreements. Settlement fees include fees paid by merchants, usually as a percentage of the transaction value as well as interchange and payment network fees incurred from financial institutions and a mark-up charged by CM.com for its payment services. Start-rate fees comprise fixed fees per transaction for the use of CM.com\u2019s platform. The hardware sale-related revenues are transactional and are recognized when they occur (point-in-time). Service-level agreements are recognized over time. Cost of services for Pay comprises primarily of fees paid to financial services providers, as well as interchange and payment network fees charged by financial institutions for facilitating payments through CM.com\u2019s platform and the purchase of payment terminals.
Live revenue is generated by ticketing and related services. Revenues include ticket service fees, event-application subscriptions, rental of POS terminals and scanners, and insurance fees. Ticket fees comprise fixed fees per transaction for using CM.com\u2019s platform and are recognized at a point-in-time, as are the rent of POS terminals and scanners, and the insurance fees. Event-application subscriptions are recognized over time. The cost of sales for Live mainly consists of the acquisition or rent of POS terminals and the fees for any transactions running on these terminals. An insurance payout provision (see note 19) is both recorded and released within the cost of sales. Finally, there are some client-specific cost of sales for individual events.
In the table below, revenue is disaggregated by CM.com's operating segments:
| x \u20ac\u00a01,000 | Connect | Engage | Pay | Live | Total |
|---|---|---|---|---|---|
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| Revenue | 220,286 | 28,495 | 13,031 | 12,437 | 274,249 |
| Cost of services | (179,946) | (3,725) | (5,665) | (1,806) | (191,142) |
| Operational expenses, amortization, depreciation, and impairments | \u00a0 | \u00a0 | \u00a0 | \u00a0 | (98,377) |
| Operating result | \u00a0 | \u00a0 | \u00a0 | \u00a0 | (15,270) |
| Financial income and expenses | \u00a0 | \u00a0 | \u00a0 | \u00a0 | (3,988) |
| Share of results in associates | \u00a0 | \u00a0 | \u00a0 | \u00a0 | - |
| Result before tax | \u00a0 | \u00a0 | \u00a0 | \u00a0 | (19,258) |
| x \u20ac\u00a01,000 | Connect | Engage | Pay | Live | Total |
|---|---|---|---|---|---|
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| Revenue | 214,363 | 25,849 | 14,384 | 11,638 | 266,234 |
| Cost of services | (176,669) | (3,148) | (6,760) | (1,124) | (187,701) |
| Operational expenses, amortization, depreciation, and impairments | \u00a0 | \u00a0 | \u00a0 | \u00a0 | (103,101) |
| Operating result | \u00a0 | \u00a0 | \u00a0 | \u00a0 | (24,568) |
| Financial income and expenses | \u00a0 | \u00a0 | \u00a0 | \u00a0 | (4,322) |
| Share of results in associates | \u00a0 | \u00a0 | \u00a0 | \u00a0 | (561) |
| Result before tax | \u00a0 | \u00a0 | \u00a0 | \u00a0 | (29,451) |
| x \u20ac\u00a01,000 | CPaaS | SaaS | Payments | Ticketing | Total |
|---|---|---|---|---|---|
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| Revenue | 211,468 | 28,904 | 15,542 | 10,320 | 266,234 |
| Cost of services | (176,603) | (3,266) | (7,231) | (601) | (187,701) |
| Operational expenses, amortization, depreciation, and impairments | \u00a0 | \u00a0 | \u00a0 | \u00a0 | (103,101) |
| Operating result | \u00a0 | \u00a0 | \u00a0 | \u00a0 | (24,568) |
| Financial income and expenses | \u00a0 | \u00a0 | \u00a0 | \u00a0 | (4,322) |
| Share of results in associates | \u00a0 | \u00a0 | \u00a0 | \u00a0 | (561) |
| Result before tax | \u00a0 | \u00a0 | \u00a0 | \u00a0 | (29,451) |
In following tables revenue is disaggregated by CM.com's operating segments and regions. The region is determined based on the billing address of the legal establishment of our customers.
| x \u20ac\u00a01,000 | Connect | Engage | Pay | Live | Total |
|---|---|---|---|---|---|
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| EMEA | 110,897 | 26,251 | 12,935 | 12,227 | 162,310 |
| of which the Netherlands | 39,424 | 20,276 | 10,310 | 9,525 | 79,535 |
| of which France | 30,903 | 1,588 | 40 | 24 | 32,555 |
| APAC | 67,470 | 1,598 | 57 | 62 | 69,187 |
| of which Singapore | 35,296 | 5 | - | - | 35,301 |
| Americas | 41,919 | 646 | 39 | 148 | 42,752 |
| of which the USA | 41,221 | 320 | - | 94 | 41,635 |
| \u00a0 | 220,286 | 28,495 | 13,031 | 12,437 | 274,249 |
In 2024 one client contributed \u20ac\u00a034.6 million to Connect revenue in the USA. In 2023, no single client or partner contributed more than 10% to CM.com\u2019s revenue.
Revenue is reduced by an amount of \u20ac\u00a0769 thousand (2023: \u20ac\u00a01,745 thousand) related to partner commissions paid to agents.
| x \u20ac\u00a01,000 | Connect | Engage | Pay | Live | Total |
|---|---|---|---|---|---|
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| EMEA | 135,531 | 24,157 | 14,142 | 11,631 | 185,461 |
| of which the Netherlands | 40,223 | 20,274 | 7,758 | 8,648 | 76,903 |
| of which France | 29,234 | 1,008 | 45 | 15 | 30,302 |
| APAC | 46,969 | 1,158 | 96 | - | 48,223 |
| of which Singapore | 20,421 | 9 | - | - | 20,430 |
| Americas | 31,863 | 534 | 146 | 7 | 32,550 |
| of which the USA | 28,737 | 196 | - | 7 | 28,940 |
| \u00a0 | 214,363 | 25,849 | 14,384 | 11,638 | 266,234 |
| x \u20ac\u00a01,000 | CPaaS | SaaS | Payments | Ticketing | Total |
|---|---|---|---|---|---|
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| EMEA | 133,211 | 26,637 | 15,293 | 10,320 | 185,461 |
| of which the Netherlands | 40,223 | 20,274 | 8,512 | 7,894 | 76,903 |
| of which France | 28,983 | 1,259 | 50 | 10 | 30,302 |
| APAC | 46,754 | 1,373 | 96 | - | 48,223 |
| of which Singapore | 20,421 | 9 | - | - | 20,430 |
| Americas | 31,503 | 894 | 153 | - | 32,550 |
| of which the USA | 28,399 | 534 | 7 | - | 28,940 |
| \u00a0 | 211,468 | 28,904 | 15,542 | 10,320 | 266,234 |
Goodwill and intangible assets with indefinite useful lives are stated at cost less accumulated impairments. Goodwill and intangible assets with indefinite useful lives are not amortized and are tested for impairment annually. Negative goodwill is recognized directly in profit or loss as other income. An impairment in respect of goodwill cannot be reversed. For more information see note 6.
Intangible assets with finite useful lives are stated at cost less accumulated amortization and, if applicable, less impairments. Intangible assets with finite useful lives are assessed for impairment whenever there is an indication that the intangible asset may be impaired.
Subsequent expenditure is capitalized only when it increases the future economic benefits embodied in the specific asset to which it relates. All other expenditure, including expenditure on internally generated goodwill and brands, is recognized in profit or loss as incurred.
Research costs are expensed as incurred. Development expenditures on an individual project are recognized as an intangible asset when CM.com can demonstrate the availability for use, the capability to generate future economic benefits, and the ability to measure reliably the expenditure during development. Following initial recognition of the development expenditure as an asset, the asset is carried at cost less accumulated amortization and, if applicable, less accumulated impairments. During the period of development, the asset is tested for impairment annually. Amortization is recognized in profit or loss on a straight-line basis over the estimated useful lives of intangible assets, other than goodwill and domain names, which have indefinite useful lives, from the date they are available for use. Amortization methods, useful lives, and residual values are reviewed at each reporting date and adjusted if appropriate.
At the end of each reporting period, the company assesses whether there is any indication that an impairment loss recognized in prior periods for an asset other than goodwill may no longer exist or may have decreased. If any such indication exists, the entity shall estimate the recoverable amount of that asset.
A summary of the movements in intangible assets and goodwill is provided:
| x \u20ac\u00a01,000 | Platform (software)1 | Goodwill | Customer relations | Other | Total |
|---|---|---|---|---|---|
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| Costs | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| At 31 December 2022 | 77,650 | 29,955 | 32,479 | 4,663 | 144,747 |
| Additions related to external costs | 207 | - | 110 | 1,469 | 1,786 |
| Development costs | 15,650 | - | - | - | 15,650 |
| Divestments | (14,318) | (114) | (4,201) | (1,301) | (19,934) |
| Currency difference | (1) | - | (6) | - | (7) |
| At 31 December 2023 | 79,188 | 29,841 | 28,382 | 4,831 | 142,242 |
| Additions related to external costs | 158 | - | 120 | 489 | 767 |
| Development costs | 14,430 | - | - | - | 14,430 |
| Divestments | (4,961) | - | - | (226) | (5,187) |
| Currency difference | - | - | 60 | - | 60 |
| At 31 December 2024 | 88,815 | 29,841 | 28,562 | 5,094 | 152,312 |
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| Amortization and impairments | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| At 31 December 2022 | 28,061 | 551 | 15,537 | 2,095 | 46,244 |
| Amortization | 11,479 | - | 2,908 | 576 | 14,963 |
| Impairments | 85 | 7 | - | - | 92 |
| Divestments | (14,318) | (114) | (4,201) | (1,273) | (19,906) |
| Currency difference | 2 | - | (4) | - | (2) |
| At 31 December 2023 | 25,309 | 444 | 14,240 | 1,398 | 41,391 |
| Amortization | 12,731 | - | 2,731 | 520 | 15,982 |
| Impairments | 301 | 8,780 | - | 290 | 9,371 |
| Divestments | (4,961) | - | - | (226) | (5,187) |
| Currency difference | - | - | 53 | - | 53 |
| At 31 December 2024 | 33,380 | 9,224 | 17,024 | 1,982 | 61,610 |
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| Carrying amount | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| At 31 December 2023 | 53,879 | 29,397 | 14,142 | 3,433 | 100,851 |
| At 31 December 2024 | 55,435 | 20,617 | 11,538 | 3,112 | 90,702 |
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| Estimated useful lives (years) | 5-10 | indefinite | 10 | 5-10 / indefinite | \u00a0 |
CM.com tests goodwill and intangible assets with indefinite useful lives annually, or whenever management identifies conditions that may indicate a risk of impairment.
For the purpose of impairment testing, goodwill acquired in a business combination is, from the acquisition date, allocated to each cash-generating units (CGUs), that are expected to benefit from the combination, irrespective of whether other assets or liabilities of the acquirement are assigned to those units. Domain names with indefinite useful lives are applicable to all CGUs and allocated based on an allocation key. During the restructuring into business units, several assets, (including goodwill and intangible assets with indefinite useful lives) were reallocated among CGUs to ensure they accurately reflect the business units (as explained in note 4):
| x \u20ac\u00a01,000 | Connect | Engage | Pay | Live |
|---|---|---|---|---|
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| Goodwill | 1,029 | 17,973 | - | 1,615 |
| Domain names | 888 | 461 | - | 218 |
| Pre-tax WACC | 14.50% | 13.74% | 15.91% | 13.11% |
| Post-tax WACC | 10.76% | 10.19% | 11.80% | 9.72% |
| x \u20ac\u00a01,000 | CPaaS | SaaS | Payments | Ticketing |
|---|---|---|---|---|
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| Goodwill | 1,059 | 18,810 | 8,780 | 748 |
| Domain names | 467 | 519 | 463 | 144 |
| Pre-tax WACC | 14.82% | 15.27% | 16.30% | 15.79% |
| Post-tax WACC | 11.00% | 11.33% | 12.10% | 11.72% |
CGUs are tested for impairment by comparing the carrying amount of each CGU to its recoverable amount. The recoverable amount is based on the net present value of future estimated cash flows (value-in-use).
The value-in-use calculation is based on cash flow projections for a period of five years and three months, with the exception of the CGU Pay, which uses a forecast period of eight years and three months. This extended period for CGU Pay is in accordance with IAS 36.33(b), which allows for a longer forecast period if justified.
Cash flow projections are derived from the company's strategic business plan (2025-2027), prepared bottom-up in accordance with the BU Leadership Teams, reviewed and approved by the Management Board and as part of the annual budgeting and forecasting cycle, also challenged and approved by the Supervisory Board. Forecasts beyond 2027 are more uncertain and are thus developed using a top-down approach based on expected Gross profit growth as outlined in our mid-term guidance. The extended forecast period for CGU Pay assumes stable growth to achieve an industry-standard EBITDA margin. Growth rates for Gross profit have been established as follows: 8% for Connect, 20% for Engage, 16% for Pay, and 25% for Live.
Other key assumptions applied in the discounted cash flow valuation and determining the terminal value are the growth rate applied 2,20% (2023: 2,20%) obtained from the Economic Intelligence Unit and the discount rate, according to a post-tax weighted average cost of capital (WACC) based on a peer group of similar listed entities and CM.com\u2019s target capital structure (see table). Pre-tax cash flows are not presented.
Sensitivity analysis, considering a change in the WACC of 1% and a change in the long-term growth rate of 0.5% indicates that for the CGU\u2019s Connect, Engage, and Live there is sufficient headroom (between the carrying amount and recoverable amount) to absorb adverse changes in the WACC and long-term growth rate, even if these changes were to occur simultaneously. For the CGU Pay a negative headroom is indicated.
Management justifies extending the forecasting period to eight years (2025-2032) based on industry norms, economic conditions, and the company\u2019s strategic plan. As a scale-up, a five-year horizon would not adequately represent the business\u2019s value due to ramp-up losses incurred from substantial investments in growth initiatives, reflecting our belief in the long-term viability of this business unit.
The additional years in the model are essential to achieving industry-average EBITDA margins. Achieving this requires specific transaction volumes to cover fixed operational expenses for compliance. Our strategic plan projects a consistent year-over-year growth rate up to 16%, resulting in a Gross profit CAGR of 14% for the forecasted period 2024-2032, enabling us to reach industry-average EBITDA margins within eight years. The actual Gross profit CAGR (2020-2024 was 21,4%), including the aquistition of SepaSoft B.V. in 2021. Current economic conditions in the payment industry do not indicate a decline in EBITDA margins.
In addition to detailed revenue targets, also targets for cost control are defined and included in the performance management cycle. Challenges on the input parameters in the budget and forecast models, together with a diligently executed process, provide the Pay BU leadership team, as well as the CM.com Management Board sufficient confidence. Management deems the growth rate, that can be achieved as a result of an effective sales focus combined with our integrated platform services, realistic.
The amount by which the CGU Pay' recoverable amount falls short of its carrying amount is \u20ac\u00a07.6\u00a0million based on the approved budget 2024 and forecast. This amount of headroom changes with around \u20ac\u00a06.6\u00a0million per 1% higher or lower Gross profit CAGR\u00a0 2024-2032 ceteris paribus. Management will monitor growth against this Gross profit CAGR of 14% for the upcoming reporting periods and update the impairment analyses in case of impairment triggers.
Impairment testing indicates that for the CGU Pay its carrying amount exceeds the recoverable amount. Sensitivity analysis was performed with the WACC plus-minus 1% and long-term cash flow growth rate plus-minus 0,5% resulting in a bandwidth on the headroom from minus \u20ac\u00a012.7\u00a0million for WACC +1% and long-term cash flow growth rate minus 0,5%, to minus \u20ac\u00a00.6\u00a0million for WACC -1% and long-term cash flow growth rate plus 0,5%.
Using a weighted average of three sensitivity scenarios, taking a prudent approach in determining the weight, management decided to fully impair the Goodwill associated with acquisitions in CGU Pay. An impairment charge of \u20ac\u00a08.8 million is recognized under \"Amortization, Depreciation, and Impairments\" in the profit or loss account.
The impairment recognition is due to challenges experienced in the optimization of our solution, expected volume growth taking longer than anticipated, and results lagging our budget due to competition. With a strategic focus on growing an integrated software proposition, including Pay solutions, management believes this will lead to the forecasted financial growth for CGU Pay.\u00a0No impairment charges were recognized during 2023. None of the impaired items were revalued under OCI during the period. Impairment charges are deemed non-deductible losses for corporate income tax purposes.
The outcome of the impairment testing model, based on the value-in-use, was challenged with a market approach valuation performed by an external valuation agency, taking the same key assumptions into account for the budget 2025 and growth rate as included in the discounted cash flow valuation.
The market approach consisted of two methods: one based on comparable listed companies (CCA), and one based on (public and private) transactions with a comparable acquisition target (CTA). Revenue multiples were derived for CCA and CTA and certain discounts were applied to control for the differences between the characteristics of the comparable companies and transactions and the CGU Pay. They concluded that management's value-in-use falls within the fair value range (less costs to sell) for the CGU Pay, with all values reflecting discounts and control premiums. Management is aware that this wide range reflects the Pay Business\u2019 technology, software, and platform ability to scale up both in terms of revenue and profitability. However, a considerable amount of time needs to be invested to reach this level.
Property, plant, and equipment are presented at cost less accumulated depreciation and, if applicable, less impairments. Costs includes the purchase price and all costs directly attributable to bringing the asset to the location and condition for it to be capable of operating as intended by management. Depreciation is based on the estimated useful life and calculated as a fixed percentage of cost, taking into account any residual value.
Depreciation is commenced from the date an asset is brought into use. Depreciation is recognized in profit or loss on a straight-line basis over the estimated useful life. Depreciation methods, useful lives, and residual values are reviewed at each reporting date.
A summary of the movements in property, plant, and equipment is provided:
| x \u20ac\u00a01,000 | Platform (hardware) | Furniture & fixtures | Vehicles | Hardware workplace | Leasehold improvements | Total |
|---|---|---|---|---|---|---|
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| Costs | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| At 31 December 2022 | 6,333 | 3,241 | 144 | 3,754 | 2,034 | 15,506 |
| Additions | 90 | 416 | 159 | 486 | 873 | 2,024 |
| Divestments | (2,616) | (1,102) | (33) | (2,275) | (85) | (6,111) |
| Currency difference | (37) | (1) | - | (12) | (2) | (52) |
| At 31 December 2023 | 3,770 | 2,554 | 270 | 1,953 | 2,820 | 11,367 |
| Additions | 1,721 | 108 | 24 | 293 | 53 | 2,199 |
| Divestments | (612) | (114) | (41) | (373) | (15) | (1,155) |
| Currency difference | 30 | 1 | - | 11 | - | 42 |
| At 31 December 2024 | 4,909 | 2,549 | 253 | 1,884 | 2,858 | 12,453 |
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| Depreciation and impairments | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| At 31 December 2022 | 3,438 | 908 | 98 | 1,848 | 422 | 6,714 |
| Depreciation | 444 | 373 | 108 | 689 | 250 | 1,864 |
| Impairments | 207 | 89 | 1 | 29 | 54 | 380 |
| Divestments | (2,616) | (1,102) | (33) | (2,263) | (81) | (6,095) |
| Currency difference | (11) | - | - | (5) | - | (16) |
| At 31 December 2023 | 1,462 | 268 | 174 | 298 | 645 | 2,847 |
| Depreciation | 540 | 339 | 5 | 610 | 275 | 1,769 |
| Impairments | 67 | - | - | - | - | 67 |
| Divestments | (612) | (114) | (37) | (373) | (15) | (1,151) |
| Currency difference | 16 | - | - | 16 | - | 32 |
| At 31 December 2024 | 1,473 | 493 | 142 | 551 | 905 | 3,564 |
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| Carrying amount | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| At 31 December 2023 | 2,308 | 2,286 | 96 | 1,655 | 2,175 | 8,520 |
| At 31 December 2024 | 3,436 | 2,056 | 111 | 1,333 | 1,953 | 8,889 |
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| Estimated useful lives (years) | 10 | 10 | 5 | 5 | 10 | \u00a0 |
Right-of-use assets are initially measured at cost and subsequently presented at cost less accumulated amortization and, if applicable, less impairments, and adjusted for certain re-measurements of the lease liability. Costs are initially measured at the present value of the lease payments that are outstanding at the commencement date, discounted using the interest rate implicit in the lease or, if that rate cannot be reliable determined, CM.com\u2019s incremental borrowing rate. Generally, CM.com uses its incremental borrowing rate as the discount rate. Amortization is based on the duration of the lease liability and calculated as a fixed percentage of cost, taking into account any residual value. Amortization is provided from the date an asset is available for use.
The lease liability is presented under borrowings in the consolidated statement of financial position, see note 17. The right-of-use assets are presented as a separate line in the consolidated statement of financial position. In relation to the leases, CM.com has recognized amortization and interest costs in the profit or loss. In the cash flow statement, the low-value leases (value lower than \u20ac\u00a05 thousand when new) and short-term leases (less then twelve months) are presented as part of the cash flow from operating activities. Interest paid and the repayments related to leases are presented as part of the cash flow from financing activities. The maturity analysis for the lease liabilities is included in note 12.
Amortization methods and useful lives are reviewed at each reporting date.
The determination of whether an arrangement is (or contains) a lease is based on the substance of the arrangement at the inception of the lease. The arrangement is, or contains, a lease if fulfillment of the arrangement is dependent on the use of a specific asset and the arrangement conveys a right to use the asset, even if that asset is not explicitly specified in an arrangement.
CM.com recognizes a right-of-use asset and a corresponding lease liability with respect to all lease arrangements in which it is the lessee, except for short-term leases and leases of low value assets. For these leases, CM.com recognizes the lease payments as an operating expense on a straight-line basis over the term of the lease, unless another systematic basis is more representative of the time pattern in which economic benefits from the leased assets are consumed.
CM.com recognizes a right-of-use asset and a lease liability at the lease commencement date. CM.com makes use of the expedient in IFRS 16 not to separate non-lease components from lease components.
The expenses and total cash outflow for leases are as follows:
| x \u20ac\u00a01,000 | 2024 | 2023 |
|---|---|---|
| \u00a0 | \u00a0 | \u00a0 |
| \u00a0 | \u00a0 | \u00a0 |
| Interest expense on lease liabilities | 547 | 582 |
| Expenses relating to short-term leases | 692 | 1,322 |
| Total cash outflow for leases | 3,989 | 7,429 |
A summary of the movements in right-of-use assets is provided:
| x \u20ac\u00a01,000 | Land and buildings | Furniture & fixtures | Platform (Hardware) | Platform (Software) | Vehicles | Total |
|---|---|---|---|---|---|---|
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| Costs | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| At 31 December 2022 | 20,450 | 236 | 16,563 | 1,127 | 962 | 39,338 |
| Additions | 902 | - | 10 | - | 307 | 1,219 |
| Ending of lease agreements | (976) | (116) | - | - | (311) | (1,403) |
| Currency difference | (46) | - | (49) | - | - | (95) |
| At 31 December 2023 | 20,330 | 120 | 16,524 | 1,127 | 958 | 39,059 |
| Additions | 1,849 | - | - | - | 229 | 2,078 |
| Ending of lease agreements | (1,269) | (91) | (101) | - | (226) | (1,687) |
| Currency difference | 39 | - | 32 | - | - | 71 |
| At 31 December 2024 | 20,949 | 29 | 16,455 | 1,127 | 961 | 39,521 |
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| Amortization and impairments | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| At 31 December 2022 | 4,517 | 181 | 2,979 | 565 | 438 | 8,680 |
| Amortization | 2,538 | 26 | 1,691 | 113 | 174 | 4,542 |
| Ending of lease agreements | (950) | (116) | - | - | (252) | (1,318) |
| Currency difference | (20) | - | (2) | - | - | (22) |
| At 31 December 2023 | 6,085 | 91 | 4,668 | 678 | 360 | 11,882 |
| Amortization | 2,442 | 22 | 1,639 | 113 | 250 | 4,466 |
| Ending of lease agreements | (1,169) | (91) | (101) | - | (201) | (1,562) |
| Impairments | - | - | 77 | - | - | 77 |
| Currency difference | 24 | - | 4 | - | - | 28 |
| At 31 December 2024 | 7,382 | 22 | 6,287 | 791 | 409 | 14,891 |
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| Carrying amount | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| At 31 December 2023 | 14,245 | 29 | 11,856 | 449 | 598 | 27,177 |
| At 31 December 2024 | 13,567 | 7 | 10,168 | 336 | 552 | 24,630 |
An associate is an entity over which CM.com has significant influence that is neither a subsidiary nor an interest in a joint venture. Significant influence is the power to participate in the financial and operating policy decisions of the investee, but is not control or joint control over those policies. Both results as assets and liabilities of associates or joint ventures are incorporated in these financial statements using the equity method of accounting, except when the investment is classified as held for sale, in which case it is accounted for in accordance with IFRS 5.
Details of associates are as follows:
| Name of associate | Principal activity | Place of incorporation and principal place of business | Proportion of ownership interest and voting rights | |||
|---|---|---|---|---|---|---|
| \u00a0 | \u00a0 | \u00a0 | 2024 | 2023 | ||
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| PHOS Services Ltd | Transforming mobile devices into POS terminals | Bromley, England | 0.00% | 0.00% |
Although CM.com previously held less than 20% of the equity shares of PHOS Services Ltd and 20% of the voting power at shareholder meetings, CM.com exercised significant influence as a result of the appointment as one of the investor directors contractual rights.
On 27 March 2023, CM.com sold its stake in PHOS Services Ltd. to an external party. The related loan receivable was repaid in 2023, and the resulting loss on the divestment of \u20ac\u00a0561 thousand was recorded as a share of result in associates in 2023. The loss calculation included an expected earn-out receivable of \u20ac\u00a0610 thousand against a targeted consideration of \u20ac\u00a02.5 million. As of 31 December 2023, the earn-out receivable was recognized under other receivables (see note 15). The final earn-out receivable was determined to be \u20ac\u00a0419 thousand and was settled in 2024. The difference between the estimated and final earn-out receivable was recognized as a fair value loss (see note 25) through profit or loss in 2024.
| x \u20ac\u00a01,000 | 2024 | 2023 |
|---|---|---|
| \u00a0 | \u00a0 | \u00a0 |
| Carrying amount as at 1 January | - | 1,823 |
| \u00a0 | \u00a0 | \u00a0 |
| Movements: | \u00a0 | \u00a0 |
| Sale of shares | - | (1,262) |
| Share of result in associates | - | (561) |
| Carrying amount as at 31 December | - | - |
Current income tax assets and liabilities are measured at the amount expected to be recovered from or paid to the tax authorities. The tax rates and tax laws used to compute these amounts are those that are enacted or substantively enacted at the reporting date in the countries where CM.com operates and generates taxable income. Management periodically evaluates positions taken in the tax returns with respect to situations in which applicable tax regulations are subject to interpretation and establishes provisions where appropriate. The effective income tax amount on the company\u2019s result before tax differs from the statutory income tax amount that would arise using the applicable statutory income tax rate.
CM.com N.V. forms a fiscal unity for corporate income tax purposes with the Dutch subsidiaries, excluding CM.com Ticket Guarantee N.V. Income tax is allocated to individual members of the fiscal unity as if they were independently liable for tax.
Major components of the income tax expenses are:
| x \u20ac\u00a01,000 | 2024 | 2023 |
|---|---|---|
| \u00a0 | \u00a0 | \u00a0 |
| \u00a0 | \u00a0 | \u00a0 |
| Current tax: | \u00a0 | \u00a0 |
| Current year | 708 | 608 |
| Adjustments prior periods | 60 | 167 |
| \u00a0 | \u00a0 | \u00a0 |
| \u00a0 | \u00a0 | \u00a0 |
| Deferred tax: | \u00a0 | \u00a0 |
| Movement in temporary differences | (1,101) | (2,714)1 |
| Movement in tax losses carried forward | 856 | 1,1791 |
| Tax rate differences | 32 | 28 |
| Taxation according to profit or loss account | 555 | (732) |
The effective tax rate for 2024 is minus 2.9% (2023: 2.5%) and can be as follows:
| x \u20ac\u00a01,000 | 2024 | 2023 |
|---|---|---|
| \u00a0 | \u00a0 | \u00a0 |
| \u00a0 | \u00a0 | \u00a0 |
| Result before tax | (19,258) | (29,451) |
| Income tax at statutory tax rate (25.8%) | (4,969) | (7,597) |
| Exempt income | - | 145 |
| Non-deductible expenses | 2,680 | 128 |
| Rate differential | (440) | 220 |
| Non-recognition of deferred tax assets | 3,987 | 6,913 |
| Tax losses utilised | (542) | (543) |
| Deferred tax asset through equity | (221) | (202) |
| Tax relating to prior periods | 60 | 204 |
| Tax according to the profit or loss account | 555 | (732) |
| Effective tax rate | (2.9%) | 2.5% |
Deferred tax is recognized using the balance sheet method, providing for carry-forward losses and temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for taxation purposes. Deferred tax is measured at the tax rates that are expected to be applied to temporary differences when they reverse, based on the laws that have been enacted or substantively enacted at the reporting date.
Deferred tax assets and liabilities are offset if there is a legally enforceable right to offset current tax liabilities and assets, and they relate to income taxes levied by the same tax authority on the same taxable entity.
Deferred tax assets (DTA) for carried-forward tax losses are recognized to the extent that it is probable that taxable profits will be available against which the unused tax losses can be utilized. CM.com has tax losses carried-forward of \u20ac\u00a0115.7 million as at 31 December 2024 (2023: \u20ac\u00a0107.2 million), out of which \u20ac\u00a00.9 million (2023: \u20ac\u00a00.3 million) expires in the following five years (for this no DTA is formed) and \u20ac\u00a00.3 million (2023: \u20ac\u00a00.5 million) will expire after five years (for this a DTA of \u20ac\u00a013 thousand is formed). \u20ac\u00a0114.5 million (2023: \u20ac\u00a0106.4 million) can be carried forward indefinitely (of this for a total of \u20ac\u00a04 million a DTA is formed). For unused tax losses of \u20ac\u00a099.4 million (2023: \u20ac\u00a086.4\u00a0million) no deferred tax asset is formed.
Deferred tax assets recognized and movements thereon:
| x \u20ac\u00a01,000 | Total | Convertible bonds | Right-of-use assets | Tax losses | Deferred costs |
|---|---|---|---|---|---|
| Carrying amount as at 31 December 2022 after netting | 1,506 | - | 38 | 975 | 493 |
| Netting of tax | 9,714 | 845 | 4,194 | 4,675 | - |
| Carrying amount as at 31 December 2022 before netting | 11,220 | 845 | 4,232 | 5,650 | 493 |
| Mutations through profit or loss | (1,179) | - | - | (1,179) | - |
| Mutations through equity | (202) | (202) | - | - | - |
| Charge to profit or loss | (217) | - | (358) | - | 141 |
| Exchange differences | (46) | - | - | (14) | (32) |
| Carrying amount as at 31 December 2023 before netting | 9,576 | 643 | 3,874 | 4,457 | 602 |
| Netting of tax | (8,440) | (643) | (3,750) | (4,047) | - |
| Carrying amount as at 31 December 2023 after netting | 1,136 | - | 124 | 410 | 602 |
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| Netting of tax | 8,440 | 643 | 3,750 | 4,047 | - |
| Mutations through profit or loss | (856) | - | - | (856) | - |
| Mutations through equity | (221) | (221) | - | - | - |
| Charge to profit or loss | (128) | - | (162) | - | 34 |
| Exchange differences | 25 | - | - | 7 | 18 |
| Carrying amount as at 31 December 2024 before netting | 8,396 | 422 | 3,712 | 3,608 | 654 |
| Netting of tax | (7,154) | (422) | (3,556) | (3,176) | - |
| Carrying amount as at 31 December 2024 after netting | 1,242 | - | 156 | 432 | 654 |
Deferred tax liabilities recognized and movements thereon:
| x \u20ac\u00a01,000 | Total | Convertible bonds | Right-of-use liabilities | Other temporary differences |
|---|---|---|---|---|
| Carrying amount as at 31 December 2022 after netting | 3,162 | 483 | - | 2,679 |
| Netting of tax | 9,714 | 845 | 4,194 | 4,675 |
| Carrying amount as at 31 December 2022 before netting | 12,876 | 1,328 | 4,194 | 7,354 |
| Mutations through profit or loss | (2,901) | (340) | (444) | (2,117) |
| Effect of change in tax rate | - | - | - | - |
| Carrying amount as at 31 December 2023 before netting | 9,975 | 988 | 3,750 | 5,237 |
| Netting of tax | (8,440) | (643) | (3,750) | (4,047) |
| Carrying amount as at 31 December 2023 after netting | 1,535 | 345 | - | 1,190 |
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| Netting of tax | 8,440 | 643 | 3,750 | 4,047 |
| Mutations through profit or loss | (1,197) | (355) | (194) | (648) |
| Exchange differences | (39) | - | - | (39) |
| Carrying amount as at 31 December 2024 before netting | 8,739 | 633 | 3,556 | 4,550 |
| Netting of tax | (7,154) | (422) | (3,556) | (3,176) |
| Carrying amount as at 31 December 2024 after netting | 1,585 | 211 | - | 1,374 |
CM.com\u2019s operations are divided into segments, reflecting our business unit structure. Management monitors business performance at Gross profit level and overall costs. Not all costs, assets, and liabilities are directly allocated to CM.com\u2019s segments, and therefore not presented as such. Non-current assets, such as intangible assets, goodwill and property, plant, and equipment, are mainly located in the Netherlands.
Since 2024, CM.com\u2019s operating segments consist of Connect, Engage, Pay, and Live.
Connect revenue consists of omnichannel messaging (such as Bulk SMS, WhatsApp, Apple Business Chat, and RCS) and voice services that form part of CM.com's core service offering. Revenue from these products can be transactional and are recorded when they occur (point-in-time) or as part of a subscription plan being recorded on a straight-line basis over the duration of the contract. The cost of services for the Connect segment comprises primarily of fees paid to mobile network operators and OTT providers for the purchase of mobile messages, voice, mobile data capacity, and OTT communication capabilities.
Engage revenue consists of a portfolio of services that contribute to the optimization of our client\u2019s mobile business journey with their (potential) clients. Subscription fees are charged for access to these platform features. Revenue for these services is recognized on a straight-line basis over the duration of the contract. The cost of services for the Engage segment comprises primarily of fees paid to suppliers of CM.com\u2019s supplementary platform features, data, email, digital signing, identification, and verification services.
Pay revenue is derived from online and in-person payments and consists of settlement- and start-rate fees, hardware sales, and service-level agreements. Settlement fees include fees paid by merchants, usually as a percentage of the transaction value as well as interchange and payment network fees incurred from financial institutions and a mark-up charged by CM.com for its payment services. Start-rate fees comprise fixed fees per transaction for the use of CM.com\u2019s platform. The hardware sale-related revenues are transactional and are recognized when they occur (point-in-time). Service-level agreements are recognized over time. Cost of services for Pay comprises primarily of fees paid to financial services providers, as well as interchange and payment network fees charged by financial institutions for facilitating payments through CM.com\u2019s platform and the purchase of payment terminals.
Live revenue is generated by ticketing and related services. Revenues include ticket service fees, event-application subscriptions, rental of POS terminals and scanners, and insurance fees. Ticket fees comprise fixed fees per transaction for using CM.com\u2019s platform and are recognized at a point-in-time, as are the rent of POS terminals and scanners, and the insurance fees. Event-application subscriptions are recognized over time. The cost of sales for Live mainly consists of the acquisition or rent of POS terminals and the fees for any transactions running on these terminals. An insurance payout provision (see note 19) is both recorded and released within the cost of sales. Finally, there are some client-specific cost of sales for individual events.
In the table below, revenue is disaggregated by CM.com's operating segments:
| x \u20ac\u00a01,000 | Connect | Engage | Pay | Live | Total |
|---|---|---|---|---|---|
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| Revenue | 220,286 | 28,495 | 13,031 | 12,437 | 274,249 |
| Cost of services | (179,946) | (3,725) | (5,665) | (1,806) | (191,142) |
| Operational expenses, amortization, depreciation, and impairments | \u00a0 | \u00a0 | \u00a0 | \u00a0 | (98,377) |
| Operating result | \u00a0 | \u00a0 | \u00a0 | \u00a0 | (15,270) |
| Financial income and expenses | \u00a0 | \u00a0 | \u00a0 | \u00a0 | (3,988) |
| Share of results in associates | \u00a0 | \u00a0 | \u00a0 | \u00a0 | - |
| Result before tax | \u00a0 | \u00a0 | \u00a0 | \u00a0 | (19,258) |
| x \u20ac\u00a01,000 | Connect | Engage | Pay | Live | Total |
|---|---|---|---|---|---|
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| Revenue | 214,363 | 25,849 | 14,384 | 11,638 | 266,234 |
| Cost of services | (176,669) | (3,148) | (6,760) | (1,124) | (187,701) |
| Operational expenses, amortization, depreciation, and impairments | \u00a0 | \u00a0 | \u00a0 | \u00a0 | (103,101) |
| Operating result | \u00a0 | \u00a0 | \u00a0 | \u00a0 | (24,568) |
| Financial income and expenses | \u00a0 | \u00a0 | \u00a0 | \u00a0 | (4,322) |
| Share of results in associates | \u00a0 | \u00a0 | \u00a0 | \u00a0 | (561) |
| Result before tax | \u00a0 | \u00a0 | \u00a0 | \u00a0 | (29,451) |
| x \u20ac\u00a01,000 | CPaaS | SaaS | Payments | Ticketing | Total |
|---|---|---|---|---|---|
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| Revenue | 211,468 | 28,904 | 15,542 | 10,320 | 266,234 |
| Cost of services | (176,603) | (3,266) | (7,231) | (601) | (187,701) |
| Operational expenses, amortization, depreciation, and impairments | \u00a0 | \u00a0 | \u00a0 | \u00a0 | (103,101) |
| Operating result | \u00a0 | \u00a0 | \u00a0 | \u00a0 | (24,568) |
| Financial income and expenses | \u00a0 | \u00a0 | \u00a0 | \u00a0 | (4,322) |
| Share of results in associates | \u00a0 | \u00a0 | \u00a0 | \u00a0 | (561) |
| Result before tax | \u00a0 | \u00a0 | \u00a0 | \u00a0 | (29,451) |
In following tables revenue is disaggregated by CM.com's operating segments and regions. The region is determined based on the billing address of the legal establishment of our customers.
| x \u20ac\u00a01,000 | Connect | Engage | Pay | Live | Total |
|---|---|---|---|---|---|
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| EMEA | 110,897 | 26,251 | 12,935 | 12,227 | 162,310 |
| of which the Netherlands | 39,424 | 20,276 | 10,310 | 9,525 | 79,535 |
| of which France | 30,903 | 1,588 | 40 | 24 | 32,555 |
| APAC | 67,470 | 1,598 | 57 | 62 | 69,187 |
| of which Singapore | 35,296 | 5 | - | - | 35,301 |
| Americas | 41,919 | 646 | 39 | 148 | 42,752 |
| of which the USA | 41,221 | 320 | - | 94 | 41,635 |
| \u00a0 | 220,286 | 28,495 | 13,031 | 12,437 | 274,249 |
In 2024 one client contributed \u20ac\u00a034.6 million to Connect revenue in the USA. In 2023, no single client or partner contributed more than 10% to CM.com\u2019s revenue.
Revenue is reduced by an amount of \u20ac\u00a0769 thousand (2023: \u20ac\u00a01,745 thousand) related to partner commissions paid to agents.
| x \u20ac\u00a01,000 | Connect | Engage | Pay | Live | Total |
|---|---|---|---|---|---|
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| EMEA | 135,531 | 24,157 | 14,142 | 11,631 | 185,461 |
| of which the Netherlands | 40,223 | 20,274 | 7,758 | 8,648 | 76,903 |
| of which France | 29,234 | 1,008 | 45 | 15 | 30,302 |
| APAC | 46,969 | 1,158 | 96 | - | 48,223 |
| of which Singapore | 20,421 | 9 | - | - | 20,430 |
| Americas | 31,863 | 534 | 146 | 7 | 32,550 |
| of which the USA | 28,737 | 196 | - | 7 | 28,940 |
| \u00a0 | 214,363 | 25,849 | 14,384 | 11,638 | 266,234 |
| x \u20ac\u00a01,000 | CPaaS | SaaS | Payments | Ticketing | Total |
|---|---|---|---|---|---|
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| EMEA | 133,211 | 26,637 | 15,293 | 10,320 | 185,461 |
| of which the Netherlands | 40,223 | 20,274 | 8,512 | 7,894 | 76,903 |
| of which France | 28,983 | 1,259 | 50 | 10 | 30,302 |
| APAC | 46,754 | 1,373 | 96 | - | 48,223 |
| of which Singapore | 20,421 | 9 | - | - | 20,430 |
| Americas | 31,503 | 894 | 153 | - | 32,550 |
| of which the USA | 28,399 | 534 | 7 | - | 28,940 |
| \u00a0 | 211,468 | 28,904 | 15,542 | 10,320 | 266,234 |
CM.com\u2019s operations are divided into segments, reflecting our business unit structure. Management monitors business performance at Gross profit level and overall costs. Not all costs, assets, and liabilities are directly allocated to CM.com\u2019s segments, and therefore not presented as such. Non-current assets, such as intangible assets, goodwill and property, plant, and equipment, are mainly located in the Netherlands.
Since 2024, CM.com\u2019s operating segments consist of Connect, Engage, Pay, and Live.
Connect revenue consists of omnichannel messaging (such as Bulk SMS, WhatsApp, Apple Business Chat, and RCS) and voice services that form part of CM.com's core service offering. Revenue from these products can be transactional and are recorded when they occur (point-in-time) or as part of a subscription plan being recorded on a straight-line basis over the duration of the contract. The cost of services for the Connect segment comprises primarily of fees paid to mobile network operators and OTT providers for the purchase of mobile messages, voice, mobile data capacity, and OTT communication capabilities.
Engage revenue consists of a portfolio of services that contribute to the optimization of our client\u2019s mobile business journey with their (potential) clients. Subscription fees are charged for access to these platform features. Revenue for these services is recognized on a straight-line basis over the duration of the contract. The cost of services for the Engage segment comprises primarily of fees paid to suppliers of CM.com\u2019s supplementary platform features, data, email, digital signing, identification, and verification services.
Pay revenue is derived from online and in-person payments and consists of settlement- and start-rate fees, hardware sales, and service-level agreements. Settlement fees include fees paid by merchants, usually as a percentage of the transaction value as well as interchange and payment network fees incurred from financial institutions and a mark-up charged by CM.com for its payment services. Start-rate fees comprise fixed fees per transaction for the use of CM.com\u2019s platform. The hardware sale-related revenues are transactional and are recognized when they occur (point-in-time). Service-level agreements are recognized over time. Cost of services for Pay comprises primarily of fees paid to financial services providers, as well as interchange and payment network fees charged by financial institutions for facilitating payments through CM.com\u2019s platform and the purchase of payment terminals.
Live revenue is generated by ticketing and related services. Revenues include ticket service fees, event-application subscriptions, rental of POS terminals and scanners, and insurance fees. Ticket fees comprise fixed fees per transaction for using CM.com\u2019s platform and are recognized at a point-in-time, as are the rent of POS terminals and scanners, and the insurance fees. Event-application subscriptions are recognized over time. The cost of sales for Live mainly consists of the acquisition or rent of POS terminals and the fees for any transactions running on these terminals. An insurance payout provision (see note 19) is both recorded and released within the cost of sales. Finally, there are some client-specific cost of sales for individual events.
In the table below, revenue is disaggregated by CM.com's operating segments:
| x \u20ac\u00a01,000 | Connect | Engage | Pay | Live | Total |
|---|---|---|---|---|---|
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| Revenue | 220,286 | 28,495 | 13,031 | 12,437 | 274,249 |
| Cost of services | (179,946) | (3,725) | (5,665) | (1,806) | (191,142) |
| Operational expenses, amortization, depreciation, and impairments | \u00a0 | \u00a0 | \u00a0 | \u00a0 | (98,377) |
| Operating result | \u00a0 | \u00a0 | \u00a0 | \u00a0 | (15,270) |
| Financial income and expenses | \u00a0 | \u00a0 | \u00a0 | \u00a0 | (3,988) |
| Share of results in associates | \u00a0 | \u00a0 | \u00a0 | \u00a0 | - |
| Result before tax | \u00a0 | \u00a0 | \u00a0 | \u00a0 | (19,258) |
| x \u20ac\u00a01,000 | Connect | Engage | Pay | Live | Total |
|---|---|---|---|---|---|
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| Revenue | 214,363 | 25,849 | 14,384 | 11,638 | 266,234 |
| Cost of services | (176,669) | (3,148) | (6,760) | (1,124) | (187,701) |
| Operational expenses, amortization, depreciation, and impairments | \u00a0 | \u00a0 | \u00a0 | \u00a0 | (103,101) |
| Operating result | \u00a0 | \u00a0 | \u00a0 | \u00a0 | (24,568) |
| Financial income and expenses | \u00a0 | \u00a0 | \u00a0 | \u00a0 | (4,322) |
| Share of results in associates | \u00a0 | \u00a0 | \u00a0 | \u00a0 | (561) |
| Result before tax | \u00a0 | \u00a0 | \u00a0 | \u00a0 | (29,451) |
| x \u20ac\u00a01,000 | CPaaS | SaaS | Payments | Ticketing | Total |
|---|---|---|---|---|---|
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| Revenue | 211,468 | 28,904 | 15,542 | 10,320 | 266,234 |
| Cost of services | (176,603) | (3,266) | (7,231) | (601) | (187,701) |
| Operational expenses, amortization, depreciation, and impairments | \u00a0 | \u00a0 | \u00a0 | \u00a0 | (103,101) |
| Operating result | \u00a0 | \u00a0 | \u00a0 | \u00a0 | (24,568) |
| Financial income and expenses | \u00a0 | \u00a0 | \u00a0 | \u00a0 | (4,322) |
| Share of results in associates | \u00a0 | \u00a0 | \u00a0 | \u00a0 | (561) |
| Result before tax | \u00a0 | \u00a0 | \u00a0 | \u00a0 | (29,451) |
In following tables revenue is disaggregated by CM.com's operating segments and regions. The region is determined based on the billing address of the legal establishment of our customers.
| x \u20ac\u00a01,000 | Connect | Engage | Pay | Live | Total |
|---|---|---|---|---|---|
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| EMEA | 110,897 | 26,251 | 12,935 | 12,227 | 162,310 |
| of which the Netherlands | 39,424 | 20,276 | 10,310 | 9,525 | 79,535 |
| of which France | 30,903 | 1,588 | 40 | 24 | 32,555 |
| APAC | 67,470 | 1,598 | 57 | 62 | 69,187 |
| of which Singapore | 35,296 | 5 | - | - | 35,301 |
| Americas | 41,919 | 646 | 39 | 148 | 42,752 |
| of which the USA | 41,221 | 320 | - | 94 | 41,635 |
| \u00a0 | 220,286 | 28,495 | 13,031 | 12,437 | 274,249 |
In 2024 one client contributed \u20ac\u00a034.6 million to Connect revenue in the USA. In 2023, no single client or partner contributed more than 10% to CM.com\u2019s revenue.
Revenue is reduced by an amount of \u20ac\u00a0769 thousand (2023: \u20ac\u00a01,745 thousand) related to partner commissions paid to agents.
| x \u20ac\u00a01,000 | Connect | Engage | Pay | Live | Total |
|---|---|---|---|---|---|
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| EMEA | 135,531 | 24,157 | 14,142 | 11,631 | 185,461 |
| of which the Netherlands | 40,223 | 20,274 | 7,758 | 8,648 | 76,903 |
| of which France | 29,234 | 1,008 | 45 | 15 | 30,302 |
| APAC | 46,969 | 1,158 | 96 | - | 48,223 |
| of which Singapore | 20,421 | 9 | - | - | 20,430 |
| Americas | 31,863 | 534 | 146 | 7 | 32,550 |
| of which the USA | 28,737 | 196 | - | 7 | 28,940 |
| \u00a0 | 214,363 | 25,849 | 14,384 | 11,638 | 266,234 |
| x \u20ac\u00a01,000 | CPaaS | SaaS | Payments | Ticketing | Total |
|---|---|---|---|---|---|
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| EMEA | 133,211 | 26,637 | 15,293 | 10,320 | 185,461 |
| of which the Netherlands | 40,223 | 20,274 | 8,512 | 7,894 | 76,903 |
| of which France | 28,983 | 1,259 | 50 | 10 | 30,302 |
| APAC | 46,754 | 1,373 | 96 | - | 48,223 |
| of which Singapore | 20,421 | 9 | - | - | 20,430 |
| Americas | 31,503 | 894 | 153 | - | 32,550 |
| of which the USA | 28,399 | 534 | 7 | - | 28,940 |
| \u00a0 | 211,468 | 28,904 | 15,542 | 10,320 | 266,234 |
CM.com\u2019s operations are divided into segments, reflecting our business unit structure. Management monitors business performance at Gross profit level and overall costs. Not all costs, assets, and liabilities are directly allocated to CM.com\u2019s segments, and therefore not presented as such. Non-current assets, such as intangible assets, goodwill and property, plant, and equipment, are mainly located in the Netherlands.
Since 2024, CM.com\u2019s operating segments consist of Connect, Engage, Pay, and Live.
Connect revenue consists of omnichannel messaging (such as Bulk SMS, WhatsApp, Apple Business Chat, and RCS) and voice services that form part of CM.com's core service offering. Revenue from these products can be transactional and are recorded when they occur (point-in-time) or as part of a subscription plan being recorded on a straight-line basis over the duration of the contract. The cost of services for the Connect segment comprises primarily of fees paid to mobile network operators and OTT providers for the purchase of mobile messages, voice, mobile data capacity, and OTT communication capabilities.
Engage revenue consists of a portfolio of services that contribute to the optimization of our client\u2019s mobile business journey with their (potential) clients. Subscription fees are charged for access to these platform features. Revenue for these services is recognized on a straight-line basis over the duration of the contract. The cost of services for the Engage segment comprises primarily of fees paid to suppliers of CM.com\u2019s supplementary platform features, data, email, digital signing, identification, and verification services.
Pay revenue is derived from online and in-person payments and consists of settlement- and start-rate fees, hardware sales, and service-level agreements. Settlement fees include fees paid by merchants, usually as a percentage of the transaction value as well as interchange and payment network fees incurred from financial institutions and a mark-up charged by CM.com for its payment services. Start-rate fees comprise fixed fees per transaction for the use of CM.com\u2019s platform. The hardware sale-related revenues are transactional and are recognized when they occur (point-in-time). Service-level agreements are recognized over time. Cost of services for Pay comprises primarily of fees paid to financial services providers, as well as interchange and payment network fees charged by financial institutions for facilitating payments through CM.com\u2019s platform and the purchase of payment terminals.
Live revenue is generated by ticketing and related services. Revenues include ticket service fees, event-application subscriptions, rental of POS terminals and scanners, and insurance fees. Ticket fees comprise fixed fees per transaction for using CM.com\u2019s platform and are recognized at a point-in-time, as are the rent of POS terminals and scanners, and the insurance fees. Event-application subscriptions are recognized over time. The cost of sales for Live mainly consists of the acquisition or rent of POS terminals and the fees for any transactions running on these terminals. An insurance payout provision (see note 19) is both recorded and released within the cost of sales. Finally, there are some client-specific cost of sales for individual events.
In the table below, revenue is disaggregated by CM.com's operating segments:
| x \u20ac\u00a01,000 | Connect | Engage | Pay | Live | Total |
|---|---|---|---|---|---|
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| Revenue | 220,286 | 28,495 | 13,031 | 12,437 | 274,249 |
| Cost of services | (179,946) | (3,725) | (5,665) | (1,806) | (191,142) |
| Operational expenses, amortization, depreciation, and impairments | \u00a0 | \u00a0 | \u00a0 | \u00a0 | (98,377) |
| Operating result | \u00a0 | \u00a0 | \u00a0 | \u00a0 | (15,270) |
| Financial income and expenses | \u00a0 | \u00a0 | \u00a0 | \u00a0 | (3,988) |
| Share of results in associates | \u00a0 | \u00a0 | \u00a0 | \u00a0 | - |
| Result before tax | \u00a0 | \u00a0 | \u00a0 | \u00a0 | (19,258) |
| x \u20ac\u00a01,000 | Connect | Engage | Pay | Live | Total |
|---|---|---|---|---|---|
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| Revenue | 214,363 | 25,849 | 14,384 | 11,638 | 266,234 |
| Cost of services | (176,669) | (3,148) | (6,760) | (1,124) | (187,701) |
| Operational expenses, amortization, depreciation, and impairments | \u00a0 | \u00a0 | \u00a0 | \u00a0 | (103,101) |
| Operating result | \u00a0 | \u00a0 | \u00a0 | \u00a0 | (24,568) |
| Financial income and expenses | \u00a0 | \u00a0 | \u00a0 | \u00a0 | (4,322) |
| Share of results in associates | \u00a0 | \u00a0 | \u00a0 | \u00a0 | (561) |
| Result before tax | \u00a0 | \u00a0 | \u00a0 | \u00a0 | (29,451) |
| x \u20ac\u00a01,000 | CPaaS | SaaS | Payments | Ticketing | Total |
|---|---|---|---|---|---|
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| Revenue | 211,468 | 28,904 | 15,542 | 10,320 | 266,234 |
| Cost of services | (176,603) | (3,266) | (7,231) | (601) | (187,701) |
| Operational expenses, amortization, depreciation, and impairments | \u00a0 | \u00a0 | \u00a0 | \u00a0 | (103,101) |
| Operating result | \u00a0 | \u00a0 | \u00a0 | \u00a0 | (24,568) |
| Financial income and expenses | \u00a0 | \u00a0 | \u00a0 | \u00a0 | (4,322) |
| Share of results in associates | \u00a0 | \u00a0 | \u00a0 | \u00a0 | (561) |
| Result before tax | \u00a0 | \u00a0 | \u00a0 | \u00a0 | (29,451) |
In following tables revenue is disaggregated by CM.com's operating segments and regions. The region is determined based on the billing address of the legal establishment of our customers.
| x \u20ac\u00a01,000 | Connect | Engage | Pay | Live | Total |
|---|---|---|---|---|---|
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| EMEA | 110,897 | 26,251 | 12,935 | 12,227 | 162,310 |
| of which the Netherlands | 39,424 | 20,276 | 10,310 | 9,525 | 79,535 |
| of which France | 30,903 | 1,588 | 40 | 24 | 32,555 |
| APAC | 67,470 | 1,598 | 57 | 62 | 69,187 |
| of which Singapore | 35,296 | 5 | - | - | 35,301 |
| Americas | 41,919 | 646 | 39 | 148 | 42,752 |
| of which the USA | 41,221 | 320 | - | 94 | 41,635 |
| \u00a0 | 220,286 | 28,495 | 13,031 | 12,437 | 274,249 |
In 2024 one client contributed \u20ac\u00a034.6 million to Connect revenue in the USA. In 2023, no single client or partner contributed more than 10% to CM.com\u2019s revenue.
Revenue is reduced by an amount of \u20ac\u00a0769 thousand (2023: \u20ac\u00a01,745 thousand) related to partner commissions paid to agents.
| x \u20ac\u00a01,000 | Connect | Engage | Pay | Live | Total |
|---|---|---|---|---|---|
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| EMEA | 135,531 | 24,157 | 14,142 | 11,631 | 185,461 |
| of which the Netherlands | 40,223 | 20,274 | 7,758 | 8,648 | 76,903 |
| of which France | 29,234 | 1,008 | 45 | 15 | 30,302 |
| APAC | 46,969 | 1,158 | 96 | - | 48,223 |
| of which Singapore | 20,421 | 9 | - | - | 20,430 |
| Americas | 31,863 | 534 | 146 | 7 | 32,550 |
| of which the USA | 28,737 | 196 | - | 7 | 28,940 |
| \u00a0 | 214,363 | 25,849 | 14,384 | 11,638 | 266,234 |
| x \u20ac\u00a01,000 | CPaaS | SaaS | Payments | Ticketing | Total |
|---|---|---|---|---|---|
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| EMEA | 133,211 | 26,637 | 15,293 | 10,320 | 185,461 |
| of which the Netherlands | 40,223 | 20,274 | 8,512 | 7,894 | 76,903 |
| of which France | 28,983 | 1,259 | 50 | 10 | 30,302 |
| APAC | 46,754 | 1,373 | 96 | - | 48,223 |
| of which Singapore | 20,421 | 9 | - | - | 20,430 |
| Americas | 31,503 | 894 | 153 | - | 32,550 |
| of which the USA | 28,399 | 534 | 7 | - | 28,940 |
| \u00a0 | 211,468 | 28,904 | 15,542 | 10,320 | 266,234 |
CM.com\u2019s operations are divided into segments, reflecting our business unit structure. Management monitors business performance at Gross profit level and overall costs. Not all costs, assets, and liabilities are directly allocated to CM.com\u2019s segments, and therefore not presented as such. Non-current assets, such as intangible assets, goodwill and property, plant, and equipment, are mainly located in the Netherlands.
Since 2024, CM.com\u2019s operating segments consist of Connect, Engage, Pay, and Live.
Connect revenue consists of omnichannel messaging (such as Bulk SMS, WhatsApp, Apple Business Chat, and RCS) and voice services that form part of CM.com's core service offering. Revenue from these products can be transactional and are recorded when they occur (point-in-time) or as part of a subscription plan being recorded on a straight-line basis over the duration of the contract. The cost of services for the Connect segment comprises primarily of fees paid to mobile network operators and OTT providers for the purchase of mobile messages, voice, mobile data capacity, and OTT communication capabilities.
Engage revenue consists of a portfolio of services that contribute to the optimization of our client\u2019s mobile business journey with their (potential) clients. Subscription fees are charged for access to these platform features. Revenue for these services is recognized on a straight-line basis over the duration of the contract. The cost of services for the Engage segment comprises primarily of fees paid to suppliers of CM.com\u2019s supplementary platform features, data, email, digital signing, identification, and verification services.
Pay revenue is derived from online and in-person payments and consists of settlement- and start-rate fees, hardware sales, and service-level agreements. Settlement fees include fees paid by merchants, usually as a percentage of the transaction value as well as interchange and payment network fees incurred from financial institutions and a mark-up charged by CM.com for its payment services. Start-rate fees comprise fixed fees per transaction for the use of CM.com\u2019s platform. The hardware sale-related revenues are transactional and are recognized when they occur (point-in-time). Service-level agreements are recognized over time. Cost of services for Pay comprises primarily of fees paid to financial services providers, as well as interchange and payment network fees charged by financial institutions for facilitating payments through CM.com\u2019s platform and the purchase of payment terminals.
Live revenue is generated by ticketing and related services. Revenues include ticket service fees, event-application subscriptions, rental of POS terminals and scanners, and insurance fees. Ticket fees comprise fixed fees per transaction for using CM.com\u2019s platform and are recognized at a point-in-time, as are the rent of POS terminals and scanners, and the insurance fees. Event-application subscriptions are recognized over time. The cost of sales for Live mainly consists of the acquisition or rent of POS terminals and the fees for any transactions running on these terminals. An insurance payout provision (see note 19) is both recorded and released within the cost of sales. Finally, there are some client-specific cost of sales for individual events.
In the table below, revenue is disaggregated by CM.com's operating segments:
| x \u20ac\u00a01,000 | Connect | Engage | Pay | Live | Total |
|---|---|---|---|---|---|
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| Revenue | 220,286 | 28,495 | 13,031 | 12,437 | 274,249 |
| Cost of services | (179,946) | (3,725) | (5,665) | (1,806) | (191,142) |
| Operational expenses, amortization, depreciation, and impairments | \u00a0 | \u00a0 | \u00a0 | \u00a0 | (98,377) |
| Operating result | \u00a0 | \u00a0 | \u00a0 | \u00a0 | (15,270) |
| Financial income and expenses | \u00a0 | \u00a0 | \u00a0 | \u00a0 | (3,988) |
| Share of results in associates | \u00a0 | \u00a0 | \u00a0 | \u00a0 | - |
| Result before tax | \u00a0 | \u00a0 | \u00a0 | \u00a0 | (19,258) |
| x \u20ac\u00a01,000 | Connect | Engage | Pay | Live | Total |
|---|---|---|---|---|---|
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| Revenue | 214,363 | 25,849 | 14,384 | 11,638 | 266,234 |
| Cost of services | (176,669) | (3,148) | (6,760) | (1,124) | (187,701) |
| Operational expenses, amortization, depreciation, and impairments | \u00a0 | \u00a0 | \u00a0 | \u00a0 | (103,101) |
| Operating result | \u00a0 | \u00a0 | \u00a0 | \u00a0 | (24,568) |
| Financial income and expenses | \u00a0 | \u00a0 | \u00a0 | \u00a0 | (4,322) |
| Share of results in associates | \u00a0 | \u00a0 | \u00a0 | \u00a0 | (561) |
| Result before tax | \u00a0 | \u00a0 | \u00a0 | \u00a0 | (29,451) |
| x \u20ac\u00a01,000 | CPaaS | SaaS | Payments | Ticketing | Total |
|---|---|---|---|---|---|
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| Revenue | 211,468 | 28,904 | 15,542 | 10,320 | 266,234 |
| Cost of services | (176,603) | (3,266) | (7,231) | (601) | (187,701) |
| Operational expenses, amortization, depreciation, and impairments | \u00a0 | \u00a0 | \u00a0 | \u00a0 | (103,101) |
| Operating result | \u00a0 | \u00a0 | \u00a0 | \u00a0 | (24,568) |
| Financial income and expenses | \u00a0 | \u00a0 | \u00a0 | \u00a0 | (4,322) |
| Share of results in associates | \u00a0 | \u00a0 | \u00a0 | \u00a0 | (561) |
| Result before tax | \u00a0 | \u00a0 | \u00a0 | \u00a0 | (29,451) |
In following tables revenue is disaggregated by CM.com's operating segments and regions. The region is determined based on the billing address of the legal establishment of our customers.
| x \u20ac\u00a01,000 | Connect | Engage | Pay | Live | Total |
|---|---|---|---|---|---|
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| EMEA | 110,897 | 26,251 | 12,935 | 12,227 | 162,310 |
| of which the Netherlands | 39,424 | 20,276 | 10,310 | 9,525 | 79,535 |
| of which France | 30,903 | 1,588 | 40 | 24 | 32,555 |
| APAC | 67,470 | 1,598 | 57 | 62 | 69,187 |
| of which Singapore | 35,296 | 5 | - | - | 35,301 |
| Americas | 41,919 | 646 | 39 | 148 | 42,752 |
| of which the USA | 41,221 | 320 | - | 94 | 41,635 |
| \u00a0 | 220,286 | 28,495 | 13,031 | 12,437 | 274,249 |
In 2024 one client contributed \u20ac\u00a034.6 million to Connect revenue in the USA. In 2023, no single client or partner contributed more than 10% to CM.com\u2019s revenue.
Revenue is reduced by an amount of \u20ac\u00a0769 thousand (2023: \u20ac\u00a01,745 thousand) related to partner commissions paid to agents.
| x \u20ac\u00a01,000 | Connect | Engage | Pay | Live | Total |
|---|---|---|---|---|---|
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| EMEA | 135,531 | 24,157 | 14,142 | 11,631 | 185,461 |
| of which the Netherlands | 40,223 | 20,274 | 7,758 | 8,648 | 76,903 |
| of which France | 29,234 | 1,008 | 45 | 15 | 30,302 |
| APAC | 46,969 | 1,158 | 96 | - | 48,223 |
| of which Singapore | 20,421 | 9 | - | - | 20,430 |
| Americas | 31,863 | 534 | 146 | 7 | 32,550 |
| of which the USA | 28,737 | 196 | - | 7 | 28,940 |
| \u00a0 | 214,363 | 25,849 | 14,384 | 11,638 | 266,234 |
| x \u20ac\u00a01,000 | CPaaS | SaaS | Payments | Ticketing | Total |
|---|---|---|---|---|---|
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| EMEA | 133,211 | 26,637 | 15,293 | 10,320 | 185,461 |
| of which the Netherlands | 40,223 | 20,274 | 8,512 | 7,894 | 76,903 |
| of which France | 28,983 | 1,259 | 50 | 10 | 30,302 |
| APAC | 46,754 | 1,373 | 96 | - | 48,223 |
| of which Singapore | 20,421 | 9 | - | - | 20,430 |
| Americas | 31,503 | 894 | 153 | - | 32,550 |
| of which the USA | 28,399 | 534 | 7 | - | 28,940 |
| \u00a0 | 211,468 | 28,904 | 15,542 | 10,320 | 266,234 |
CM.com\u2019s operations are divided into segments, reflecting our business unit structure. Management monitors business performance at Gross profit level and overall costs. Not all costs, assets, and liabilities are directly allocated to CM.com\u2019s segments, and therefore not presented as such. Non-current assets, such as intangible assets, goodwill and property, plant, and equipment, are mainly located in the Netherlands.
Since 2024, CM.com\u2019s operating segments consist of Connect, Engage, Pay, and Live.
Connect revenue consists of omnichannel messaging (such as Bulk SMS, WhatsApp, Apple Business Chat, and RCS) and voice services that form part of CM.com's core service offering. Revenue from these products can be transactional and are recorded when they occur (point-in-time) or as part of a subscription plan being recorded on a straight-line basis over the duration of the contract. The cost of services for the Connect segment comprises primarily of fees paid to mobile network operators and OTT providers for the purchase of mobile messages, voice, mobile data capacity, and OTT communication capabilities.
Engage revenue consists of a portfolio of services that contribute to the optimization of our client\u2019s mobile business journey with their (potential) clients. Subscription fees are charged for access to these platform features. Revenue for these services is recognized on a straight-line basis over the duration of the contract. The cost of services for the Engage segment comprises primarily of fees paid to suppliers of CM.com\u2019s supplementary platform features, data, email, digital signing, identification, and verification services.
Pay revenue is derived from online and in-person payments and consists of settlement- and start-rate fees, hardware sales, and service-level agreements. Settlement fees include fees paid by merchants, usually as a percentage of the transaction value as well as interchange and payment network fees incurred from financial institutions and a mark-up charged by CM.com for its payment services. Start-rate fees comprise fixed fees per transaction for the use of CM.com\u2019s platform. The hardware sale-related revenues are transactional and are recognized when they occur (point-in-time). Service-level agreements are recognized over time. Cost of services for Pay comprises primarily of fees paid to financial services providers, as well as interchange and payment network fees charged by financial institutions for facilitating payments through CM.com\u2019s platform and the purchase of payment terminals.
Live revenue is generated by ticketing and related services. Revenues include ticket service fees, event-application subscriptions, rental of POS terminals and scanners, and insurance fees. Ticket fees comprise fixed fees per transaction for using CM.com\u2019s platform and are recognized at a point-in-time, as are the rent of POS terminals and scanners, and the insurance fees. Event-application subscriptions are recognized over time. The cost of sales for Live mainly consists of the acquisition or rent of POS terminals and the fees for any transactions running on these terminals. An insurance payout provision (see note 19) is both recorded and released within the cost of sales. Finally, there are some client-specific cost of sales for individual events.
In the table below, revenue is disaggregated by CM.com's operating segments:
| x \u20ac\u00a01,000 | Connect | Engage | Pay | Live | Total |
|---|---|---|---|---|---|
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| Revenue | 220,286 | 28,495 | 13,031 | 12,437 | 274,249 |
| Cost of services | (179,946) | (3,725) | (5,665) | (1,806) | (191,142) |
| Operational expenses, amortization, depreciation, and impairments | \u00a0 | \u00a0 | \u00a0 | \u00a0 | (98,377) |
| Operating result | \u00a0 | \u00a0 | \u00a0 | \u00a0 | (15,270) |
| Financial income and expenses | \u00a0 | \u00a0 | \u00a0 | \u00a0 | (3,988) |
| Share of results in associates | \u00a0 | \u00a0 | \u00a0 | \u00a0 | - |
| Result before tax | \u00a0 | \u00a0 | \u00a0 | \u00a0 | (19,258) |
| x \u20ac\u00a01,000 | Connect | Engage | Pay | Live | Total |
|---|---|---|---|---|---|
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| Revenue | 214,363 | 25,849 | 14,384 | 11,638 | 266,234 |
| Cost of services | (176,669) | (3,148) | (6,760) | (1,124) | (187,701) |
| Operational expenses, amortization, depreciation, and impairments | \u00a0 | \u00a0 | \u00a0 | \u00a0 | (103,101) |
| Operating result | \u00a0 | \u00a0 | \u00a0 | \u00a0 | (24,568) |
| Financial income and expenses | \u00a0 | \u00a0 | \u00a0 | \u00a0 | (4,322) |
| Share of results in associates | \u00a0 | \u00a0 | \u00a0 | \u00a0 | (561) |
| Result before tax | \u00a0 | \u00a0 | \u00a0 | \u00a0 | (29,451) |
| x \u20ac\u00a01,000 | CPaaS | SaaS | Payments | Ticketing | Total |
|---|---|---|---|---|---|
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| Revenue | 211,468 | 28,904 | 15,542 | 10,320 | 266,234 |
| Cost of services | (176,603) | (3,266) | (7,231) | (601) | (187,701) |
| Operational expenses, amortization, depreciation, and impairments | \u00a0 | \u00a0 | \u00a0 | \u00a0 | (103,101) |
| Operating result | \u00a0 | \u00a0 | \u00a0 | \u00a0 | (24,568) |
| Financial income and expenses | \u00a0 | \u00a0 | \u00a0 | \u00a0 | (4,322) |
| Share of results in associates | \u00a0 | \u00a0 | \u00a0 | \u00a0 | (561) |
| Result before tax | \u00a0 | \u00a0 | \u00a0 | \u00a0 | (29,451) |
In following tables revenue is disaggregated by CM.com's operating segments and regions. The region is determined based on the billing address of the legal establishment of our customers.
| x \u20ac\u00a01,000 | Connect | Engage | Pay | Live | Total |
|---|---|---|---|---|---|
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| EMEA | 110,897 | 26,251 | 12,935 | 12,227 | 162,310 |
| of which the Netherlands | 39,424 | 20,276 | 10,310 | 9,525 | 79,535 |
| of which France | 30,903 | 1,588 | 40 | 24 | 32,555 |
| APAC | 67,470 | 1,598 | 57 | 62 | 69,187 |
| of which Singapore | 35,296 | 5 | - | - | 35,301 |
| Americas | 41,919 | 646 | 39 | 148 | 42,752 |
| of which the USA | 41,221 | 320 | - | 94 | 41,635 |
| \u00a0 | 220,286 | 28,495 | 13,031 | 12,437 | 274,249 |
In 2024 one client contributed \u20ac\u00a034.6 million to Connect revenue in the USA. In 2023, no single client or partner contributed more than 10% to CM.com\u2019s revenue.
Revenue is reduced by an amount of \u20ac\u00a0769 thousand (2023: \u20ac\u00a01,745 thousand) related to partner commissions paid to agents.
| x \u20ac\u00a01,000 | Connect | Engage | Pay | Live | Total |
|---|---|---|---|---|---|
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| EMEA | 135,531 | 24,157 | 14,142 | 11,631 | 185,461 |
| of which the Netherlands | 40,223 | 20,274 | 7,758 | 8,648 | 76,903 |
| of which France | 29,234 | 1,008 | 45 | 15 | 30,302 |
| APAC | 46,969 | 1,158 | 96 | - | 48,223 |
| of which Singapore | 20,421 | 9 | - | - | 20,430 |
| Americas | 31,863 | 534 | 146 | 7 | 32,550 |
| of which the USA | 28,737 | 196 | - | 7 | 28,940 |
| \u00a0 | 214,363 | 25,849 | 14,384 | 11,638 | 266,234 |
| x \u20ac\u00a01,000 | CPaaS | SaaS | Payments | Ticketing | Total |
|---|---|---|---|---|---|
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| EMEA | 133,211 | 26,637 | 15,293 | 10,320 | 185,461 |
| of which the Netherlands | 40,223 | 20,274 | 8,512 | 7,894 | 76,903 |
| of which France | 28,983 | 1,259 | 50 | 10 | 30,302 |
| APAC | 46,754 | 1,373 | 96 | - | 48,223 |
| of which Singapore | 20,421 | 9 | - | - | 20,430 |
| Americas | 31,503 | 894 | 153 | - | 32,550 |
| of which the USA | 28,399 | 534 | 7 | - | 28,940 |
| \u00a0 | 211,468 | 28,904 | 15,542 | 10,320 | 266,234 |
CM.com\u2019s operations are divided into segments, reflecting our business unit structure. Management monitors business performance at Gross profit level and overall costs. Not all costs, assets, and liabilities are directly allocated to CM.com\u2019s segments, and therefore not presented as such. Non-current assets, such as intangible assets, goodwill and property, plant, and equipment, are mainly located in the Netherlands.
Since 2024, CM.com\u2019s operating segments consist of Connect, Engage, Pay, and Live.
Connect revenue consists of omnichannel messaging (such as Bulk SMS, WhatsApp, Apple Business Chat, and RCS) and voice services that form part of CM.com's core service offering. Revenue from these products can be transactional and are recorded when they occur (point-in-time) or as part of a subscription plan being recorded on a straight-line basis over the duration of the contract. The cost of services for the Connect segment comprises primarily of fees paid to mobile network operators and OTT providers for the purchase of mobile messages, voice, mobile data capacity, and OTT communication capabilities.
Engage revenue consists of a portfolio of services that contribute to the optimization of our client\u2019s mobile business journey with their (potential) clients. Subscription fees are charged for access to these platform features. Revenue for these services is recognized on a straight-line basis over the duration of the contract. The cost of services for the Engage segment comprises primarily of fees paid to suppliers of CM.com\u2019s supplementary platform features, data, email, digital signing, identification, and verification services.
Pay revenue is derived from online and in-person payments and consists of settlement- and start-rate fees, hardware sales, and service-level agreements. Settlement fees include fees paid by merchants, usually as a percentage of the transaction value as well as interchange and payment network fees incurred from financial institutions and a mark-up charged by CM.com for its payment services. Start-rate fees comprise fixed fees per transaction for the use of CM.com\u2019s platform. The hardware sale-related revenues are transactional and are recognized when they occur (point-in-time). Service-level agreements are recognized over time. Cost of services for Pay comprises primarily of fees paid to financial services providers, as well as interchange and payment network fees charged by financial institutions for facilitating payments through CM.com\u2019s platform and the purchase of payment terminals.
Live revenue is generated by ticketing and related services. Revenues include ticket service fees, event-application subscriptions, rental of POS terminals and scanners, and insurance fees. Ticket fees comprise fixed fees per transaction for using CM.com\u2019s platform and are recognized at a point-in-time, as are the rent of POS terminals and scanners, and the insurance fees. Event-application subscriptions are recognized over time. The cost of sales for Live mainly consists of the acquisition or rent of POS terminals and the fees for any transactions running on these terminals. An insurance payout provision (see note 19) is both recorded and released within the cost of sales. Finally, there are some client-specific cost of sales for individual events.
In the table below, revenue is disaggregated by CM.com's operating segments:
| x \u20ac\u00a01,000 | Connect | Engage | Pay | Live | Total |
|---|---|---|---|---|---|
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| Revenue | 220,286 | 28,495 | 13,031 | 12,437 | 274,249 |
| Cost of services | (179,946) | (3,725) | (5,665) | (1,806) | (191,142) |
| Operational expenses, amortization, depreciation, and impairments | \u00a0 | \u00a0 | \u00a0 | \u00a0 | (98,377) |
| Operating result | \u00a0 | \u00a0 | \u00a0 | \u00a0 | (15,270) |
| Financial income and expenses | \u00a0 | \u00a0 | \u00a0 | \u00a0 | (3,988) |
| Share of results in associates | \u00a0 | \u00a0 | \u00a0 | \u00a0 | - |
| Result before tax | \u00a0 | \u00a0 | \u00a0 | \u00a0 | (19,258) |
| x \u20ac\u00a01,000 | Connect | Engage | Pay | Live | Total |
|---|---|---|---|---|---|
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| Revenue | 214,363 | 25,849 | 14,384 | 11,638 | 266,234 |
| Cost of services | (176,669) | (3,148) | (6,760) | (1,124) | (187,701) |
| Operational expenses, amortization, depreciation, and impairments | \u00a0 | \u00a0 | \u00a0 | \u00a0 | (103,101) |
| Operating result | \u00a0 | \u00a0 | \u00a0 | \u00a0 | (24,568) |
| Financial income and expenses | \u00a0 | \u00a0 | \u00a0 | \u00a0 | (4,322) |
| Share of results in associates | \u00a0 | \u00a0 | \u00a0 | \u00a0 | (561) |
| Result before tax | \u00a0 | \u00a0 | \u00a0 | \u00a0 | (29,451) |
| x \u20ac\u00a01,000 | CPaaS | SaaS | Payments | Ticketing | Total |
|---|---|---|---|---|---|
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| Revenue | 211,468 | 28,904 | 15,542 | 10,320 | 266,234 |
| Cost of services | (176,603) | (3,266) | (7,231) | (601) | (187,701) |
| Operational expenses, amortization, depreciation, and impairments | \u00a0 | \u00a0 | \u00a0 | \u00a0 | (103,101) |
| Operating result | \u00a0 | \u00a0 | \u00a0 | \u00a0 | (24,568) |
| Financial income and expenses | \u00a0 | \u00a0 | \u00a0 | \u00a0 | (4,322) |
| Share of results in associates | \u00a0 | \u00a0 | \u00a0 | \u00a0 | (561) |
| Result before tax | \u00a0 | \u00a0 | \u00a0 | \u00a0 | (29,451) |
In following tables revenue is disaggregated by CM.com's operating segments and regions. The region is determined based on the billing address of the legal establishment of our customers.
| x \u20ac\u00a01,000 | Connect | Engage | Pay | Live | Total |
|---|---|---|---|---|---|
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| EMEA | 110,897 | 26,251 | 12,935 | 12,227 | 162,310 |
| of which the Netherlands | 39,424 | 20,276 | 10,310 | 9,525 | 79,535 |
| of which France | 30,903 | 1,588 | 40 | 24 | 32,555 |
| APAC | 67,470 | 1,598 | 57 | 62 | 69,187 |
| of which Singapore | 35,296 | 5 | - | - | 35,301 |
| Americas | 41,919 | 646 | 39 | 148 | 42,752 |
| of which the USA | 41,221 | 320 | - | 94 | 41,635 |
| \u00a0 | 220,286 | 28,495 | 13,031 | 12,437 | 274,249 |
In 2024 one client contributed \u20ac\u00a034.6 million to Connect revenue in the USA. In 2023, no single client or partner contributed more than 10% to CM.com\u2019s revenue.
Revenue is reduced by an amount of \u20ac\u00a0769 thousand (2023: \u20ac\u00a01,745 thousand) related to partner commissions paid to agents.
| x \u20ac\u00a01,000 | Connect | Engage | Pay | Live | Total |
|---|---|---|---|---|---|
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| EMEA | 135,531 | 24,157 | 14,142 | 11,631 | 185,461 |
| of which the Netherlands | 40,223 | 20,274 | 7,758 | 8,648 | 76,903 |
| of which France | 29,234 | 1,008 | 45 | 15 | 30,302 |
| APAC | 46,969 | 1,158 | 96 | - | 48,223 |
| of which Singapore | 20,421 | 9 | - | - | 20,430 |
| Americas | 31,863 | 534 | 146 | 7 | 32,550 |
| of which the USA | 28,737 | 196 | - | 7 | 28,940 |
| \u00a0 | 214,363 | 25,849 | 14,384 | 11,638 | 266,234 |
| x \u20ac\u00a01,000 | CPaaS | SaaS | Payments | Ticketing | Total |
|---|---|---|---|---|---|
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| EMEA | 133,211 | 26,637 | 15,293 | 10,320 | 185,461 |
| of which the Netherlands | 40,223 | 20,274 | 8,512 | 7,894 | 76,903 |
| of which France | 28,983 | 1,259 | 50 | 10 | 30,302 |
| APAC | 46,754 | 1,373 | 96 | - | 48,223 |
| of which Singapore | 20,421 | 9 | - | - | 20,430 |
| Americas | 31,503 | 894 | 153 | - | 32,550 |
| of which the USA | 28,399 | 534 | 7 | - | 28,940 |
| \u00a0 | 211,468 | 28,904 | 15,542 | 10,320 | 266,234 |
Goodwill and intangible assets with indefinite useful lives are stated at cost less accumulated impairments. Goodwill and intangible assets with indefinite useful lives are not amortized and are tested for impairment annually. Negative goodwill is recognized directly in profit or loss as other income. An impairment in respect of goodwill cannot be reversed. For more information see note 6.
Intangible assets with finite useful lives are stated at cost less accumulated amortization and, if applicable, less impairments. Intangible assets with finite useful lives are assessed for impairment whenever there is an indication that the intangible asset may be impaired.
Subsequent expenditure is capitalized only when it increases the future economic benefits embodied in the specific asset to which it relates. All other expenditure, including expenditure on internally generated goodwill and brands, is recognized in profit or loss as incurred.
Research costs are expensed as incurred. Development expenditures on an individual project are recognized as an intangible asset when CM.com can demonstrate the availability for use, the capability to generate future economic benefits, and the ability to measure reliably the expenditure during development. Following initial recognition of the development expenditure as an asset, the asset is carried at cost less accumulated amortization and, if applicable, less accumulated impairments. During the period of development, the asset is tested for impairment annually. Amortization is recognized in profit or loss on a straight-line basis over the estimated useful lives of intangible assets, other than goodwill and domain names, which have indefinite useful lives, from the date they are available for use. Amortization methods, useful lives, and residual values are reviewed at each reporting date and adjusted if appropriate.
At the end of each reporting period, the company assesses whether there is any indication that an impairment loss recognized in prior periods for an asset other than goodwill may no longer exist or may have decreased. If any such indication exists, the entity shall estimate the recoverable amount of that asset.
A summary of the movements in intangible assets and goodwill is provided:
| x \u20ac\u00a01,000 | Platform (software)1 | Goodwill | Customer relations | Other | Total |
|---|---|---|---|---|---|
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| Costs | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| At 31 December 2022 | 77,650 | 29,955 | 32,479 | 4,663 | 144,747 |
| Additions related to external costs | 207 | - | 110 | 1,469 | 1,786 |
| Development costs | 15,650 | - | - | - | 15,650 |
| Divestments | (14,318) | (114) | (4,201) | (1,301) | (19,934) |
| Currency difference | (1) | - | (6) | - | (7) |
| At 31 December 2023 | 79,188 | 29,841 | 28,382 | 4,831 | 142,242 |
| Additions related to external costs | 158 | - | 120 | 489 | 767 |
| Development costs | 14,430 | - | - | - | 14,430 |
| Divestments | (4,961) | - | - | (226) | (5,187) |
| Currency difference | - | - | 60 | - | 60 |
| At 31 December 2024 | 88,815 | 29,841 | 28,562 | 5,094 | 152,312 |
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| Amortization and impairments | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| At 31 December 2022 | 28,061 | 551 | 15,537 | 2,095 | 46,244 |
| Amortization | 11,479 | - | 2,908 | 576 | 14,963 |
| Impairments | 85 | 7 | - | - | 92 |
| Divestments | (14,318) | (114) | (4,201) | (1,273) | (19,906) |
| Currency difference | 2 | - | (4) | - | (2) |
| At 31 December 2023 | 25,309 | 444 | 14,240 | 1,398 | 41,391 |
| Amortization | 12,731 | - | 2,731 | 520 | 15,982 |
| Impairments | 301 | 8,780 | - | 290 | 9,371 |
| Divestments | (4,961) | - | - | (226) | (5,187) |
| Currency difference | - | - | 53 | - | 53 |
| At 31 December 2024 | 33,380 | 9,224 | 17,024 | 1,982 | 61,610 |
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| Carrying amount | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| At 31 December 2023 | 53,879 | 29,397 | 14,142 | 3,433 | 100,851 |
| At 31 December 2024 | 55,435 | 20,617 | 11,538 | 3,112 | 90,702 |
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| Estimated useful lives (years) | 5-10 | indefinite | 10 | 5-10 / indefinite | \u00a0 |
Goodwill and intangible assets with indefinite useful lives are stated at cost less accumulated impairments. Goodwill and intangible assets with indefinite useful lives are not amortized and are tested for impairment annually. Negative goodwill is recognized directly in profit or loss as other income. An impairment in respect of goodwill cannot be reversed. For more information see note 6.
Intangible assets with finite useful lives are stated at cost less accumulated amortization and, if applicable, less impairments. Intangible assets with finite useful lives are assessed for impairment whenever there is an indication that the intangible asset may be impaired.
Subsequent expenditure is capitalized only when it increases the future economic benefits embodied in the specific asset to which it relates. All other expenditure, including expenditure on internally generated goodwill and brands, is recognized in profit or loss as incurred.
Research costs are expensed as incurred. Development expenditures on an individual project are recognized as an intangible asset when CM.com can demonstrate the availability for use, the capability to generate future economic benefits, and the ability to measure reliably the expenditure during development. Following initial recognition of the development expenditure as an asset, the asset is carried at cost less accumulated amortization and, if applicable, less accumulated impairments. During the period of development, the asset is tested for impairment annually. Amortization is recognized in profit or loss on a straight-line basis over the estimated useful lives of intangible assets, other than goodwill and domain names, which have indefinite useful lives, from the date they are available for use. Amortization methods, useful lives, and residual values are reviewed at each reporting date and adjusted if appropriate.
At the end of each reporting period, the company assesses whether there is any indication that an impairment loss recognized in prior periods for an asset other than goodwill may no longer exist or may have decreased. If any such indication exists, the entity shall estimate the recoverable amount of that asset.
A summary of the movements in intangible assets and goodwill is provided:
| x \u20ac\u00a01,000 | Platform (software)1 | Goodwill | Customer relations | Other | Total |
|---|---|---|---|---|---|
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| Costs | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| At 31 December 2022 | 77,650 | 29,955 | 32,479 | 4,663 | 144,747 |
| Additions related to external costs | 207 | - | 110 | 1,469 | 1,786 |
| Development costs | 15,650 | - | - | - | 15,650 |
| Divestments | (14,318) | (114) | (4,201) | (1,301) | (19,934) |
| Currency difference | (1) | - | (6) | - | (7) |
| At 31 December 2023 | 79,188 | 29,841 | 28,382 | 4,831 | 142,242 |
| Additions related to external costs | 158 | - | 120 | 489 | 767 |
| Development costs | 14,430 | - | - | - | 14,430 |
| Divestments | (4,961) | - | - | (226) | (5,187) |
| Currency difference | - | - | 60 | - | 60 |
| At 31 December 2024 | 88,815 | 29,841 | 28,562 | 5,094 | 152,312 |
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| Amortization and impairments | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| At 31 December 2022 | 28,061 | 551 | 15,537 | 2,095 | 46,244 |
| Amortization | 11,479 | - | 2,908 | 576 | 14,963 |
| Impairments | 85 | 7 | - | - | 92 |
| Divestments | (14,318) | (114) | (4,201) | (1,273) | (19,906) |
| Currency difference | 2 | - | (4) | - | (2) |
| At 31 December 2023 | 25,309 | 444 | 14,240 | 1,398 | 41,391 |
| Amortization | 12,731 | - | 2,731 | 520 | 15,982 |
| Impairments | 301 | 8,780 | - | 290 | 9,371 |
| Divestments | (4,961) | - | - | (226) | (5,187) |
| Currency difference | - | - | 53 | - | 53 |
| At 31 December 2024 | 33,380 | 9,224 | 17,024 | 1,982 | 61,610 |
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| Carrying amount | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| At 31 December 2023 | 53,879 | 29,397 | 14,142 | 3,433 | 100,851 |
| At 31 December 2024 | 55,435 | 20,617 | 11,538 | 3,112 | 90,702 |
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| Estimated useful lives (years) | 5-10 | indefinite | 10 | 5-10 / indefinite | \u00a0 |
Goodwill and intangible assets with indefinite useful lives are stated at cost less accumulated impairments. Goodwill and intangible assets with indefinite useful lives are not amortized and are tested for impairment annually. Negative goodwill is recognized directly in profit or loss as other income. An impairment in respect of goodwill cannot be reversed. For more information see note 6.
Intangible assets with finite useful lives are stated at cost less accumulated amortization and, if applicable, less impairments. Intangible assets with finite useful lives are assessed for impairment whenever there is an indication that the intangible asset may be impaired.
Subsequent expenditure is capitalized only when it increases the future economic benefits embodied in the specific asset to which it relates. All other expenditure, including expenditure on internally generated goodwill and brands, is recognized in profit or loss as incurred.
Research costs are expensed as incurred. Development expenditures on an individual project are recognized as an intangible asset when CM.com can demonstrate the availability for use, the capability to generate future economic benefits, and the ability to measure reliably the expenditure during development. Following initial recognition of the development expenditure as an asset, the asset is carried at cost less accumulated amortization and, if applicable, less accumulated impairments. During the period of development, the asset is tested for impairment annually. Amortization is recognized in profit or loss on a straight-line basis over the estimated useful lives of intangible assets, other than goodwill and domain names, which have indefinite useful lives, from the date they are available for use. Amortization methods, useful lives, and residual values are reviewed at each reporting date and adjusted if appropriate.
At the end of each reporting period, the company assesses whether there is any indication that an impairment loss recognized in prior periods for an asset other than goodwill may no longer exist or may have decreased. If any such indication exists, the entity shall estimate the recoverable amount of that asset.
A summary of the movements in intangible assets and goodwill is provided:
| x \u20ac\u00a01,000 | Platform (software)1 | Goodwill | Customer relations | Other | Total |
|---|---|---|---|---|---|
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| Costs | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| At 31 December 2022 | 77,650 | 29,955 | 32,479 | 4,663 | 144,747 |
| Additions related to external costs | 207 | - | 110 | 1,469 | 1,786 |
| Development costs | 15,650 | - | - | - | 15,650 |
| Divestments | (14,318) | (114) | (4,201) | (1,301) | (19,934) |
| Currency difference | (1) | - | (6) | - | (7) |
| At 31 December 2023 | 79,188 | 29,841 | 28,382 | 4,831 | 142,242 |
| Additions related to external costs | 158 | - | 120 | 489 | 767 |
| Development costs | 14,430 | - | - | - | 14,430 |
| Divestments | (4,961) | - | - | (226) | (5,187) |
| Currency difference | - | - | 60 | - | 60 |
| At 31 December 2024 | 88,815 | 29,841 | 28,562 | 5,094 | 152,312 |
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| Amortization and impairments | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| At 31 December 2022 | 28,061 | 551 | 15,537 | 2,095 | 46,244 |
| Amortization | 11,479 | - | 2,908 | 576 | 14,963 |
| Impairments | 85 | 7 | - | - | 92 |
| Divestments | (14,318) | (114) | (4,201) | (1,273) | (19,906) |
| Currency difference | 2 | - | (4) | - | (2) |
| At 31 December 2023 | 25,309 | 444 | 14,240 | 1,398 | 41,391 |
| Amortization | 12,731 | - | 2,731 | 520 | 15,982 |
| Impairments | 301 | 8,780 | - | 290 | 9,371 |
| Divestments | (4,961) | - | - | (226) | (5,187) |
| Currency difference | - | - | 53 | - | 53 |
| At 31 December 2024 | 33,380 | 9,224 | 17,024 | 1,982 | 61,610 |
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| Carrying amount | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| At 31 December 2023 | 53,879 | 29,397 | 14,142 | 3,433 | 100,851 |
| At 31 December 2024 | 55,435 | 20,617 | 11,538 | 3,112 | 90,702 |
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| Estimated useful lives (years) | 5-10 | indefinite | 10 | 5-10 / indefinite | \u00a0 |
Goodwill and intangible assets with indefinite useful lives are stated at cost less accumulated impairments. Goodwill and intangible assets with indefinite useful lives are not amortized and are tested for impairment annually. Negative goodwill is recognized directly in profit or loss as other income. An impairment in respect of goodwill cannot be reversed. For more information see note 6.
Intangible assets with finite useful lives are stated at cost less accumulated amortization and, if applicable, less impairments. Intangible assets with finite useful lives are assessed for impairment whenever there is an indication that the intangible asset may be impaired.
Subsequent expenditure is capitalized only when it increases the future economic benefits embodied in the specific asset to which it relates. All other expenditure, including expenditure on internally generated goodwill and brands, is recognized in profit or loss as incurred.
Research costs are expensed as incurred. Development expenditures on an individual project are recognized as an intangible asset when CM.com can demonstrate the availability for use, the capability to generate future economic benefits, and the ability to measure reliably the expenditure during development. Following initial recognition of the development expenditure as an asset, the asset is carried at cost less accumulated amortization and, if applicable, less accumulated impairments. During the period of development, the asset is tested for impairment annually. Amortization is recognized in profit or loss on a straight-line basis over the estimated useful lives of intangible assets, other than goodwill and domain names, which have indefinite useful lives, from the date they are available for use. Amortization methods, useful lives, and residual values are reviewed at each reporting date and adjusted if appropriate.
At the end of each reporting period, the company assesses whether there is any indication that an impairment loss recognized in prior periods for an asset other than goodwill may no longer exist or may have decreased. If any such indication exists, the entity shall estimate the recoverable amount of that asset.
A summary of the movements in intangible assets and goodwill is provided:
| x \u20ac\u00a01,000 | Platform (software)1 | Goodwill | Customer relations | Other | Total |
|---|---|---|---|---|---|
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| Costs | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| At 31 December 2022 | 77,650 | 29,955 | 32,479 | 4,663 | 144,747 |
| Additions related to external costs | 207 | - | 110 | 1,469 | 1,786 |
| Development costs | 15,650 | - | - | - | 15,650 |
| Divestments | (14,318) | (114) | (4,201) | (1,301) | (19,934) |
| Currency difference | (1) | - | (6) | - | (7) |
| At 31 December 2023 | 79,188 | 29,841 | 28,382 | 4,831 | 142,242 |
| Additions related to external costs | 158 | - | 120 | 489 | 767 |
| Development costs | 14,430 | - | - | - | 14,430 |
| Divestments | (4,961) | - | - | (226) | (5,187) |
| Currency difference | - | - | 60 | - | 60 |
| At 31 December 2024 | 88,815 | 29,841 | 28,562 | 5,094 | 152,312 |
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| Amortization and impairments | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| At 31 December 2022 | 28,061 | 551 | 15,537 | 2,095 | 46,244 |
| Amortization | 11,479 | - | 2,908 | 576 | 14,963 |
| Impairments | 85 | 7 | - | - | 92 |
| Divestments | (14,318) | (114) | (4,201) | (1,273) | (19,906) |
| Currency difference | 2 | - | (4) | - | (2) |
| At 31 December 2023 | 25,309 | 444 | 14,240 | 1,398 | 41,391 |
| Amortization | 12,731 | - | 2,731 | 520 | 15,982 |
| Impairments | 301 | 8,780 | - | 290 | 9,371 |
| Divestments | (4,961) | - | - | (226) | (5,187) |
| Currency difference | - | - | 53 | - | 53 |
| At 31 December 2024 | 33,380 | 9,224 | 17,024 | 1,982 | 61,610 |
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| Carrying amount | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| At 31 December 2023 | 53,879 | 29,397 | 14,142 | 3,433 | 100,851 |
| At 31 December 2024 | 55,435 | 20,617 | 11,538 | 3,112 | 90,702 |
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| Estimated useful lives (years) | 5-10 | indefinite | 10 | 5-10 / indefinite | \u00a0 |
Property, plant, and equipment are presented at cost less accumulated depreciation and, if applicable, less impairments. Costs includes the purchase price and all costs directly attributable to bringing the asset to the location and condition for it to be capable of operating as intended by management. Depreciation is based on the estimated useful life and calculated as a fixed percentage of cost, taking into account any residual value.
Depreciation is commenced from the date an asset is brought into use. Depreciation is recognized in profit or loss on a straight-line basis over the estimated useful life. Depreciation methods, useful lives, and residual values are reviewed at each reporting date.
A summary of the movements in property, plant, and equipment is provided:
| x \u20ac\u00a01,000 | Platform (hardware) | Furniture & fixtures | Vehicles | Hardware workplace | Leasehold improvements | Total |
|---|---|---|---|---|---|---|
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| Costs | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| At 31 December 2022 | 6,333 | 3,241 | 144 | 3,754 | 2,034 | 15,506 |
| Additions | 90 | 416 | 159 | 486 | 873 | 2,024 |
| Divestments | (2,616) | (1,102) | (33) | (2,275) | (85) | (6,111) |
| Currency difference | (37) | (1) | - | (12) | (2) | (52) |
| At 31 December 2023 | 3,770 | 2,554 | 270 | 1,953 | 2,820 | 11,367 |
| Additions | 1,721 | 108 | 24 | 293 | 53 | 2,199 |
| Divestments | (612) | (114) | (41) | (373) | (15) | (1,155) |
| Currency difference | 30 | 1 | - | 11 | - | 42 |
| At 31 December 2024 | 4,909 | 2,549 | 253 | 1,884 | 2,858 | 12,453 |
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| Depreciation and impairments | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| At 31 December 2022 | 3,438 | 908 | 98 | 1,848 | 422 | 6,714 |
| Depreciation | 444 | 373 | 108 | 689 | 250 | 1,864 |
| Impairments | 207 | 89 | 1 | 29 | 54 | 380 |
| Divestments | (2,616) | (1,102) | (33) | (2,263) | (81) | (6,095) |
| Currency difference | (11) | - | - | (5) | - | (16) |
| At 31 December 2023 | 1,462 | 268 | 174 | 298 | 645 | 2,847 |
| Depreciation | 540 | 339 | 5 | 610 | 275 | 1,769 |
| Impairments | 67 | - | - | - | - | 67 |
| Divestments | (612) | (114) | (37) | (373) | (15) | (1,151) |
| Currency difference | 16 | - | - | 16 | - | 32 |
| At 31 December 2024 | 1,473 | 493 | 142 | 551 | 905 | 3,564 |
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| Carrying amount | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| At 31 December 2023 | 2,308 | 2,286 | 96 | 1,655 | 2,175 | 8,520 |
| At 31 December 2024 | 3,436 | 2,056 | 111 | 1,333 | 1,953 | 8,889 |
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| Estimated useful lives (years) | 10 | 10 | 5 | 5 | 10 | \u00a0 |
Right-of-use assets are initially measured at cost and subsequently presented at cost less accumulated amortization and, if applicable, less impairments, and adjusted for certain re-measurements of the lease liability. Costs are initially measured at the present value of the lease payments that are outstanding at the commencement date, discounted using the interest rate implicit in the lease or, if that rate cannot be reliable determined, CM.com\u2019s incremental borrowing rate. Generally, CM.com uses its incremental borrowing rate as the discount rate. Amortization is based on the duration of the lease liability and calculated as a fixed percentage of cost, taking into account any residual value. Amortization is provided from the date an asset is available for use.
The lease liability is presented under borrowings in the consolidated statement of financial position, see note 17. The right-of-use assets are presented as a separate line in the consolidated statement of financial position. In relation to the leases, CM.com has recognized amortization and interest costs in the profit or loss. In the cash flow statement, the low-value leases (value lower than \u20ac\u00a05 thousand when new) and short-term leases (less then twelve months) are presented as part of the cash flow from operating activities. Interest paid and the repayments related to leases are presented as part of the cash flow from financing activities. The maturity analysis for the lease liabilities is included in note 12.
Amortization methods and useful lives are reviewed at each reporting date.
The determination of whether an arrangement is (or contains) a lease is based on the substance of the arrangement at the inception of the lease. The arrangement is, or contains, a lease if fulfillment of the arrangement is dependent on the use of a specific asset and the arrangement conveys a right to use the asset, even if that asset is not explicitly specified in an arrangement.
CM.com recognizes a right-of-use asset and a corresponding lease liability with respect to all lease arrangements in which it is the lessee, except for short-term leases and leases of low value assets. For these leases, CM.com recognizes the lease payments as an operating expense on a straight-line basis over the term of the lease, unless another systematic basis is more representative of the time pattern in which economic benefits from the leased assets are consumed.
CM.com recognizes a right-of-use asset and a lease liability at the lease commencement date. CM.com makes use of the expedient in IFRS 16 not to separate non-lease components from lease components.
The expenses and total cash outflow for leases are as follows:
| x \u20ac\u00a01,000 | 2024 | 2023 |
|---|---|---|
| \u00a0 | \u00a0 | \u00a0 |
| \u00a0 | \u00a0 | \u00a0 |
| Interest expense on lease liabilities | 547 | 582 |
| Expenses relating to short-term leases | 692 | 1,322 |
| Total cash outflow for leases | 3,989 | 7,429 |
A summary of the movements in right-of-use assets is provided:
| x \u20ac\u00a01,000 | Land and buildings | Furniture & fixtures | Platform (Hardware) | Platform (Software) | Vehicles | Total |
|---|---|---|---|---|---|---|
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| Costs | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| At 31 December 2022 | 20,450 | 236 | 16,563 | 1,127 | 962 | 39,338 |
| Additions | 902 | - | 10 | - | 307 | 1,219 |
| Ending of lease agreements | (976) | (116) | - | - | (311) | (1,403) |
| Currency difference | (46) | - | (49) | - | - | (95) |
| At 31 December 2023 | 20,330 | 120 | 16,524 | 1,127 | 958 | 39,059 |
| Additions | 1,849 | - | - | - | 229 | 2,078 |
| Ending of lease agreements | (1,269) | (91) | (101) | - | (226) | (1,687) |
| Currency difference | 39 | - | 32 | - | - | 71 |
| At 31 December 2024 | 20,949 | 29 | 16,455 | 1,127 | 961 | 39,521 |
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| Amortization and impairments | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| At 31 December 2022 | 4,517 | 181 | 2,979 | 565 | 438 | 8,680 |
| Amortization | 2,538 | 26 | 1,691 | 113 | 174 | 4,542 |
| Ending of lease agreements | (950) | (116) | - | - | (252) | (1,318) |
| Currency difference | (20) | - | (2) | - | - | (22) |
| At 31 December 2023 | 6,085 | 91 | 4,668 | 678 | 360 | 11,882 |
| Amortization | 2,442 | 22 | 1,639 | 113 | 250 | 4,466 |
| Ending of lease agreements | (1,169) | (91) | (101) | - | (201) | (1,562) |
| Impairments | - | - | 77 | - | - | 77 |
| Currency difference | 24 | - | 4 | - | - | 28 |
| At 31 December 2024 | 7,382 | 22 | 6,287 | 791 | 409 | 14,891 |
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| Carrying amount | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| At 31 December 2023 | 14,245 | 29 | 11,856 | 449 | 598 | 27,177 |
| At 31 December 2024 | 13,567 | 7 | 10,168 | 336 | 552 | 24,630 |
Goodwill and intangible assets with indefinite useful lives are stated at cost less accumulated impairments. Goodwill and intangible assets with indefinite useful lives are not amortized and are tested for impairment annually. Negative goodwill is recognized directly in profit or loss as other income. An impairment in respect of goodwill cannot be reversed. For more information see note 6.
Intangible assets with finite useful lives are stated at cost less accumulated amortization and, if applicable, less impairments. Intangible assets with finite useful lives are assessed for impairment whenever there is an indication that the intangible asset may be impaired.
Subsequent expenditure is capitalized only when it increases the future economic benefits embodied in the specific asset to which it relates. All other expenditure, including expenditure on internally generated goodwill and brands, is recognized in profit or loss as incurred.
Research costs are expensed as incurred. Development expenditures on an individual project are recognized as an intangible asset when CM.com can demonstrate the availability for use, the capability to generate future economic benefits, and the ability to measure reliably the expenditure during development. Following initial recognition of the development expenditure as an asset, the asset is carried at cost less accumulated amortization and, if applicable, less accumulated impairments. During the period of development, the asset is tested for impairment annually. Amortization is recognized in profit or loss on a straight-line basis over the estimated useful lives of intangible assets, other than goodwill and domain names, which have indefinite useful lives, from the date they are available for use. Amortization methods, useful lives, and residual values are reviewed at each reporting date and adjusted if appropriate.
At the end of each reporting period, the company assesses whether there is any indication that an impairment loss recognized in prior periods for an asset other than goodwill may no longer exist or may have decreased. If any such indication exists, the entity shall estimate the recoverable amount of that asset.
A summary of the movements in intangible assets and goodwill is provided:
| x \u20ac\u00a01,000 | Platform (software)1 | Goodwill | Customer relations | Other | Total |
|---|---|---|---|---|---|
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| Costs | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| At 31 December 2022 | 77,650 | 29,955 | 32,479 | 4,663 | 144,747 |
| Additions related to external costs | 207 | - | 110 | 1,469 | 1,786 |
| Development costs | 15,650 | - | - | - | 15,650 |
| Divestments | (14,318) | (114) | (4,201) | (1,301) | (19,934) |
| Currency difference | (1) | - | (6) | - | (7) |
| At 31 December 2023 | 79,188 | 29,841 | 28,382 | 4,831 | 142,242 |
| Additions related to external costs | 158 | - | 120 | 489 | 767 |
| Development costs | 14,430 | - | - | - | 14,430 |
| Divestments | (4,961) | - | - | (226) | (5,187) |
| Currency difference | - | - | 60 | - | 60 |
| At 31 December 2024 | 88,815 | 29,841 | 28,562 | 5,094 | 152,312 |
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| Amortization and impairments | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| At 31 December 2022 | 28,061 | 551 | 15,537 | 2,095 | 46,244 |
| Amortization | 11,479 | - | 2,908 | 576 | 14,963 |
| Impairments | 85 | 7 | - | - | 92 |
| Divestments | (14,318) | (114) | (4,201) | (1,273) | (19,906) |
| Currency difference | 2 | - | (4) | - | (2) |
| At 31 December 2023 | 25,309 | 444 | 14,240 | 1,398 | 41,391 |
| Amortization | 12,731 | - | 2,731 | 520 | 15,982 |
| Impairments | 301 | 8,780 | - | 290 | 9,371 |
| Divestments | (4,961) | - | - | (226) | (5,187) |
| Currency difference | - | - | 53 | - | 53 |
| At 31 December 2024 | 33,380 | 9,224 | 17,024 | 1,982 | 61,610 |
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| Carrying amount | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| At 31 December 2023 | 53,879 | 29,397 | 14,142 | 3,433 | 100,851 |
| At 31 December 2024 | 55,435 | 20,617 | 11,538 | 3,112 | 90,702 |
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| Estimated useful lives (years) | 5-10 | indefinite | 10 | 5-10 / indefinite | \u00a0 |
Property, plant, and equipment are presented at cost less accumulated depreciation and, if applicable, less impairments. Costs includes the purchase price and all costs directly attributable to bringing the asset to the location and condition for it to be capable of operating as intended by management. Depreciation is based on the estimated useful life and calculated as a fixed percentage of cost, taking into account any residual value.
Depreciation is commenced from the date an asset is brought into use. Depreciation is recognized in profit or loss on a straight-line basis over the estimated useful life. Depreciation methods, useful lives, and residual values are reviewed at each reporting date.
A summary of the movements in property, plant, and equipment is provided:
| x \u20ac\u00a01,000 | Platform (hardware) | Furniture & fixtures | Vehicles | Hardware workplace | Leasehold improvements | Total |
|---|---|---|---|---|---|---|
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| Costs | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| At 31 December 2022 | 6,333 | 3,241 | 144 | 3,754 | 2,034 | 15,506 |
| Additions | 90 | 416 | 159 | 486 | 873 | 2,024 |
| Divestments | (2,616) | (1,102) | (33) | (2,275) | (85) | (6,111) |
| Currency difference | (37) | (1) | - | (12) | (2) | (52) |
| At 31 December 2023 | 3,770 | 2,554 | 270 | 1,953 | 2,820 | 11,367 |
| Additions | 1,721 | 108 | 24 | 293 | 53 | 2,199 |
| Divestments | (612) | (114) | (41) | (373) | (15) | (1,155) |
| Currency difference | 30 | 1 | - | 11 | - | 42 |
| At 31 December 2024 | 4,909 | 2,549 | 253 | 1,884 | 2,858 | 12,453 |
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| Depreciation and impairments | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| At 31 December 2022 | 3,438 | 908 | 98 | 1,848 | 422 | 6,714 |
| Depreciation | 444 | 373 | 108 | 689 | 250 | 1,864 |
| Impairments | 207 | 89 | 1 | 29 | 54 | 380 |
| Divestments | (2,616) | (1,102) | (33) | (2,263) | (81) | (6,095) |
| Currency difference | (11) | - | - | (5) | - | (16) |
| At 31 December 2023 | 1,462 | 268 | 174 | 298 | 645 | 2,847 |
| Depreciation | 540 | 339 | 5 | 610 | 275 | 1,769 |
| Impairments | 67 | - | - | - | - | 67 |
| Divestments | (612) | (114) | (37) | (373) | (15) | (1,151) |
| Currency difference | 16 | - | - | 16 | - | 32 |
| At 31 December 2024 | 1,473 | 493 | 142 | 551 | 905 | 3,564 |
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| Carrying amount | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| At 31 December 2023 | 2,308 | 2,286 | 96 | 1,655 | 2,175 | 8,520 |
| At 31 December 2024 | 3,436 | 2,056 | 111 | 1,333 | 1,953 | 8,889 |
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| Estimated useful lives (years) | 10 | 10 | 5 | 5 | 10 | \u00a0 |
Right-of-use assets are initially measured at cost and subsequently presented at cost less accumulated amortization and, if applicable, less impairments, and adjusted for certain re-measurements of the lease liability. Costs are initially measured at the present value of the lease payments that are outstanding at the commencement date, discounted using the interest rate implicit in the lease or, if that rate cannot be reliable determined, CM.com\u2019s incremental borrowing rate. Generally, CM.com uses its incremental borrowing rate as the discount rate. Amortization is based on the duration of the lease liability and calculated as a fixed percentage of cost, taking into account any residual value. Amortization is provided from the date an asset is available for use.
The lease liability is presented under borrowings in the consolidated statement of financial position, see note 17. The right-of-use assets are presented as a separate line in the consolidated statement of financial position. In relation to the leases, CM.com has recognized amortization and interest costs in the profit or loss. In the cash flow statement, the low-value leases (value lower than \u20ac\u00a05 thousand when new) and short-term leases (less then twelve months) are presented as part of the cash flow from operating activities. Interest paid and the repayments related to leases are presented as part of the cash flow from financing activities. The maturity analysis for the lease liabilities is included in note 12.
Amortization methods and useful lives are reviewed at each reporting date.
The determination of whether an arrangement is (or contains) a lease is based on the substance of the arrangement at the inception of the lease. The arrangement is, or contains, a lease if fulfillment of the arrangement is dependent on the use of a specific asset and the arrangement conveys a right to use the asset, even if that asset is not explicitly specified in an arrangement.
CM.com recognizes a right-of-use asset and a corresponding lease liability with respect to all lease arrangements in which it is the lessee, except for short-term leases and leases of low value assets. For these leases, CM.com recognizes the lease payments as an operating expense on a straight-line basis over the term of the lease, unless another systematic basis is more representative of the time pattern in which economic benefits from the leased assets are consumed.
CM.com recognizes a right-of-use asset and a lease liability at the lease commencement date. CM.com makes use of the expedient in IFRS 16 not to separate non-lease components from lease components.
The expenses and total cash outflow for leases are as follows:
| x \u20ac\u00a01,000 | 2024 | 2023 |
|---|---|---|
| \u00a0 | \u00a0 | \u00a0 |
| \u00a0 | \u00a0 | \u00a0 |
| Interest expense on lease liabilities | 547 | 582 |
| Expenses relating to short-term leases | 692 | 1,322 |
| Total cash outflow for leases | 3,989 | 7,429 |
A summary of the movements in right-of-use assets is provided:
| x \u20ac\u00a01,000 | Land and buildings | Furniture & fixtures | Platform (Hardware) | Platform (Software) | Vehicles | Total |
|---|---|---|---|---|---|---|
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| Costs | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| At 31 December 2022 | 20,450 | 236 | 16,563 | 1,127 | 962 | 39,338 |
| Additions | 902 | - | 10 | - | 307 | 1,219 |
| Ending of lease agreements | (976) | (116) | - | - | (311) | (1,403) |
| Currency difference | (46) | - | (49) | - | - | (95) |
| At 31 December 2023 | 20,330 | 120 | 16,524 | 1,127 | 958 | 39,059 |
| Additions | 1,849 | - | - | - | 229 | 2,078 |
| Ending of lease agreements | (1,269) | (91) | (101) | - | (226) | (1,687) |
| Currency difference | 39 | - | 32 | - | - | 71 |
| At 31 December 2024 | 20,949 | 29 | 16,455 | 1,127 | 961 | 39,521 |
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| Amortization and impairments | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| At 31 December 2022 | 4,517 | 181 | 2,979 | 565 | 438 | 8,680 |
| Amortization | 2,538 | 26 | 1,691 | 113 | 174 | 4,542 |
| Ending of lease agreements | (950) | (116) | - | - | (252) | (1,318) |
| Currency difference | (20) | - | (2) | - | - | (22) |
| At 31 December 2023 | 6,085 | 91 | 4,668 | 678 | 360 | 11,882 |
| Amortization | 2,442 | 22 | 1,639 | 113 | 250 | 4,466 |
| Ending of lease agreements | (1,169) | (91) | (101) | - | (201) | (1,562) |
| Impairments | - | - | 77 | - | - | 77 |
| Currency difference | 24 | - | 4 | - | - | 28 |
| At 31 December 2024 | 7,382 | 22 | 6,287 | 791 | 409 | 14,891 |
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| Carrying amount | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| At 31 December 2023 | 14,245 | 29 | 11,856 | 449 | 598 | 27,177 |
| At 31 December 2024 | 13,567 | 7 | 10,168 | 336 | 552 | 24,630 |
Goodwill and intangible assets with indefinite useful lives are stated at cost less accumulated impairments. Goodwill and intangible assets with indefinite useful lives are not amortized and are tested for impairment annually. Negative goodwill is recognized directly in profit or loss as other income. An impairment in respect of goodwill cannot be reversed. For more information see note 6.
Intangible assets with finite useful lives are stated at cost less accumulated amortization and, if applicable, less impairments. Intangible assets with finite useful lives are assessed for impairment whenever there is an indication that the intangible asset may be impaired.
Subsequent expenditure is capitalized only when it increases the future economic benefits embodied in the specific asset to which it relates. All other expenditure, including expenditure on internally generated goodwill and brands, is recognized in profit or loss as incurred.
Research costs are expensed as incurred. Development expenditures on an individual project are recognized as an intangible asset when CM.com can demonstrate the availability for use, the capability to generate future economic benefits, and the ability to measure reliably the expenditure during development. Following initial recognition of the development expenditure as an asset, the asset is carried at cost less accumulated amortization and, if applicable, less accumulated impairments. During the period of development, the asset is tested for impairment annually. Amortization is recognized in profit or loss on a straight-line basis over the estimated useful lives of intangible assets, other than goodwill and domain names, which have indefinite useful lives, from the date they are available for use. Amortization methods, useful lives, and residual values are reviewed at each reporting date and adjusted if appropriate.
At the end of each reporting period, the company assesses whether there is any indication that an impairment loss recognized in prior periods for an asset other than goodwill may no longer exist or may have decreased. If any such indication exists, the entity shall estimate the recoverable amount of that asset.
A summary of the movements in intangible assets and goodwill is provided:
| x \u20ac\u00a01,000 | Platform (software)1 | Goodwill | Customer relations | Other | Total |
|---|---|---|---|---|---|
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| Costs | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| At 31 December 2022 | 77,650 | 29,955 | 32,479 | 4,663 | 144,747 |
| Additions related to external costs | 207 | - | 110 | 1,469 | 1,786 |
| Development costs | 15,650 | - | - | - | 15,650 |
| Divestments | (14,318) | (114) | (4,201) | (1,301) | (19,934) |
| Currency difference | (1) | - | (6) | - | (7) |
| At 31 December 2023 | 79,188 | 29,841 | 28,382 | 4,831 | 142,242 |
| Additions related to external costs | 158 | - | 120 | 489 | 767 |
| Development costs | 14,430 | - | - | - | 14,430 |
| Divestments | (4,961) | - | - | (226) | (5,187) |
| Currency difference | - | - | 60 | - | 60 |
| At 31 December 2024 | 88,815 | 29,841 | 28,562 | 5,094 | 152,312 |
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| Amortization and impairments | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| At 31 December 2022 | 28,061 | 551 | 15,537 | 2,095 | 46,244 |
| Amortization | 11,479 | - | 2,908 | 576 | 14,963 |
| Impairments | 85 | 7 | - | - | 92 |
| Divestments | (14,318) | (114) | (4,201) | (1,273) | (19,906) |
| Currency difference | 2 | - | (4) | - | (2) |
| At 31 December 2023 | 25,309 | 444 | 14,240 | 1,398 | 41,391 |
| Amortization | 12,731 | - | 2,731 | 520 | 15,982 |
| Impairments | 301 | 8,780 | - | 290 | 9,371 |
| Divestments | (4,961) | - | - | (226) | (5,187) |
| Currency difference | - | - | 53 | - | 53 |
| At 31 December 2024 | 33,380 | 9,224 | 17,024 | 1,982 | 61,610 |
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| Carrying amount | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| At 31 December 2023 | 53,879 | 29,397 | 14,142 | 3,433 | 100,851 |
| At 31 December 2024 | 55,435 | 20,617 | 11,538 | 3,112 | 90,702 |
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| Estimated useful lives (years) | 5-10 | indefinite | 10 | 5-10 / indefinite | \u00a0 |
Goodwill and intangible assets with indefinite useful lives are stated at cost less accumulated impairments. Goodwill and intangible assets with indefinite useful lives are not amortized and are tested for impairment annually. Negative goodwill is recognized directly in profit or loss as other income. An impairment in respect of goodwill cannot be reversed. For more information see note 6.
Intangible assets with finite useful lives are stated at cost less accumulated amortization and, if applicable, less impairments. Intangible assets with finite useful lives are assessed for impairment whenever there is an indication that the intangible asset may be impaired.
Subsequent expenditure is capitalized only when it increases the future economic benefits embodied in the specific asset to which it relates. All other expenditure, including expenditure on internally generated goodwill and brands, is recognized in profit or loss as incurred.
Research costs are expensed as incurred. Development expenditures on an individual project are recognized as an intangible asset when CM.com can demonstrate the availability for use, the capability to generate future economic benefits, and the ability to measure reliably the expenditure during development. Following initial recognition of the development expenditure as an asset, the asset is carried at cost less accumulated amortization and, if applicable, less accumulated impairments. During the period of development, the asset is tested for impairment annually. Amortization is recognized in profit or loss on a straight-line basis over the estimated useful lives of intangible assets, other than goodwill and domain names, which have indefinite useful lives, from the date they are available for use. Amortization methods, useful lives, and residual values are reviewed at each reporting date and adjusted if appropriate.
At the end of each reporting period, the company assesses whether there is any indication that an impairment loss recognized in prior periods for an asset other than goodwill may no longer exist or may have decreased. If any such indication exists, the entity shall estimate the recoverable amount of that asset.
A summary of the movements in intangible assets and goodwill is provided:
| x \u20ac\u00a01,000 | Platform (software)1 | Goodwill | Customer relations | Other | Total |
|---|---|---|---|---|---|
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| Costs | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| At 31 December 2022 | 77,650 | 29,955 | 32,479 | 4,663 | 144,747 |
| Additions related to external costs | 207 | - | 110 | 1,469 | 1,786 |
| Development costs | 15,650 | - | - | - | 15,650 |
| Divestments | (14,318) | (114) | (4,201) | (1,301) | (19,934) |
| Currency difference | (1) | - | (6) | - | (7) |
| At 31 December 2023 | 79,188 | 29,841 | 28,382 | 4,831 | 142,242 |
| Additions related to external costs | 158 | - | 120 | 489 | 767 |
| Development costs | 14,430 | - | - | - | 14,430 |
| Divestments | (4,961) | - | - | (226) | (5,187) |
| Currency difference | - | - | 60 | - | 60 |
| At 31 December 2024 | 88,815 | 29,841 | 28,562 | 5,094 | 152,312 |
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| Amortization and impairments | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| At 31 December 2022 | 28,061 | 551 | 15,537 | 2,095 | 46,244 |
| Amortization | 11,479 | - | 2,908 | 576 | 14,963 |
| Impairments | 85 | 7 | - | - | 92 |
| Divestments | (14,318) | (114) | (4,201) | (1,273) | (19,906) |
| Currency difference | 2 | - | (4) | - | (2) |
| At 31 December 2023 | 25,309 | 444 | 14,240 | 1,398 | 41,391 |
| Amortization | 12,731 | - | 2,731 | 520 | 15,982 |
| Impairments | 301 | 8,780 | - | 290 | 9,371 |
| Divestments | (4,961) | - | - | (226) | (5,187) |
| Currency difference | - | - | 53 | - | 53 |
| At 31 December 2024 | 33,380 | 9,224 | 17,024 | 1,982 | 61,610 |
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| Carrying amount | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| At 31 December 2023 | 53,879 | 29,397 | 14,142 | 3,433 | 100,851 |
| At 31 December 2024 | 55,435 | 20,617 | 11,538 | 3,112 | 90,702 |
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| Estimated useful lives (years) | 5-10 | indefinite | 10 | 5-10 / indefinite | \u00a0 |
Goodwill and intangible assets with indefinite useful lives are stated at cost less accumulated impairments. Goodwill and intangible assets with indefinite useful lives are not amortized and are tested for impairment annually. Negative goodwill is recognized directly in profit or loss as other income. An impairment in respect of goodwill cannot be reversed. For more information see note 6.
Intangible assets with finite useful lives are stated at cost less accumulated amortization and, if applicable, less impairments. Intangible assets with finite useful lives are assessed for impairment whenever there is an indication that the intangible asset may be impaired.
Subsequent expenditure is capitalized only when it increases the future economic benefits embodied in the specific asset to which it relates. All other expenditure, including expenditure on internally generated goodwill and brands, is recognized in profit or loss as incurred.
Research costs are expensed as incurred. Development expenditures on an individual project are recognized as an intangible asset when CM.com can demonstrate the availability for use, the capability to generate future economic benefits, and the ability to measure reliably the expenditure during development. Following initial recognition of the development expenditure as an asset, the asset is carried at cost less accumulated amortization and, if applicable, less accumulated impairments. During the period of development, the asset is tested for impairment annually. Amortization is recognized in profit or loss on a straight-line basis over the estimated useful lives of intangible assets, other than goodwill and domain names, which have indefinite useful lives, from the date they are available for use. Amortization methods, useful lives, and residual values are reviewed at each reporting date and adjusted if appropriate.
At the end of each reporting period, the company assesses whether there is any indication that an impairment loss recognized in prior periods for an asset other than goodwill may no longer exist or may have decreased. If any such indication exists, the entity shall estimate the recoverable amount of that asset.
A summary of the movements in intangible assets and goodwill is provided:
| x \u20ac\u00a01,000 | Platform (software)1 | Goodwill | Customer relations | Other | Total |
|---|---|---|---|---|---|
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| Costs | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| At 31 December 2022 | 77,650 | 29,955 | 32,479 | 4,663 | 144,747 |
| Additions related to external costs | 207 | - | 110 | 1,469 | 1,786 |
| Development costs | 15,650 | - | - | - | 15,650 |
| Divestments | (14,318) | (114) | (4,201) | (1,301) | (19,934) |
| Currency difference | (1) | - | (6) | - | (7) |
| At 31 December 2023 | 79,188 | 29,841 | 28,382 | 4,831 | 142,242 |
| Additions related to external costs | 158 | - | 120 | 489 | 767 |
| Development costs | 14,430 | - | - | - | 14,430 |
| Divestments | (4,961) | - | - | (226) | (5,187) |
| Currency difference | - | - | 60 | - | 60 |
| At 31 December 2024 | 88,815 | 29,841 | 28,562 | 5,094 | 152,312 |
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| Amortization and impairments | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| At 31 December 2022 | 28,061 | 551 | 15,537 | 2,095 | 46,244 |
| Amortization | 11,479 | - | 2,908 | 576 | 14,963 |
| Impairments | 85 | 7 | - | - | 92 |
| Divestments | (14,318) | (114) | (4,201) | (1,273) | (19,906) |
| Currency difference | 2 | - | (4) | - | (2) |
| At 31 December 2023 | 25,309 | 444 | 14,240 | 1,398 | 41,391 |
| Amortization | 12,731 | - | 2,731 | 520 | 15,982 |
| Impairments | 301 | 8,780 | - | 290 | 9,371 |
| Divestments | (4,961) | - | - | (226) | (5,187) |
| Currency difference | - | - | 53 | - | 53 |
| At 31 December 2024 | 33,380 | 9,224 | 17,024 | 1,982 | 61,610 |
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| Carrying amount | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| At 31 December 2023 | 53,879 | 29,397 | 14,142 | 3,433 | 100,851 |
| At 31 December 2024 | 55,435 | 20,617 | 11,538 | 3,112 | 90,702 |
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| Estimated useful lives (years) | 5-10 | indefinite | 10 | 5-10 / indefinite | \u00a0 |
Goodwill and intangible assets with indefinite useful lives are stated at cost less accumulated impairments. Goodwill and intangible assets with indefinite useful lives are not amortized and are tested for impairment annually. Negative goodwill is recognized directly in profit or loss as other income. An impairment in respect of goodwill cannot be reversed. For more information see note 6.
Intangible assets with finite useful lives are stated at cost less accumulated amortization and, if applicable, less impairments. Intangible assets with finite useful lives are assessed for impairment whenever there is an indication that the intangible asset may be impaired.
Subsequent expenditure is capitalized only when it increases the future economic benefits embodied in the specific asset to which it relates. All other expenditure, including expenditure on internally generated goodwill and brands, is recognized in profit or loss as incurred.
Research costs are expensed as incurred. Development expenditures on an individual project are recognized as an intangible asset when CM.com can demonstrate the availability for use, the capability to generate future economic benefits, and the ability to measure reliably the expenditure during development. Following initial recognition of the development expenditure as an asset, the asset is carried at cost less accumulated amortization and, if applicable, less accumulated impairments. During the period of development, the asset is tested for impairment annually. Amortization is recognized in profit or loss on a straight-line basis over the estimated useful lives of intangible assets, other than goodwill and domain names, which have indefinite useful lives, from the date they are available for use. Amortization methods, useful lives, and residual values are reviewed at each reporting date and adjusted if appropriate.
At the end of each reporting period, the company assesses whether there is any indication that an impairment loss recognized in prior periods for an asset other than goodwill may no longer exist or may have decreased. If any such indication exists, the entity shall estimate the recoverable amount of that asset.
A summary of the movements in intangible assets and goodwill is provided:
| x \u20ac\u00a01,000 | Platform (software)1 | Goodwill | Customer relations | Other | Total |
|---|---|---|---|---|---|
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| Costs | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| At 31 December 2022 | 77,650 | 29,955 | 32,479 | 4,663 | 144,747 |
| Additions related to external costs | 207 | - | 110 | 1,469 | 1,786 |
| Development costs | 15,650 | - | - | - | 15,650 |
| Divestments | (14,318) | (114) | (4,201) | (1,301) | (19,934) |
| Currency difference | (1) | - | (6) | - | (7) |
| At 31 December 2023 | 79,188 | 29,841 | 28,382 | 4,831 | 142,242 |
| Additions related to external costs | 158 | - | 120 | 489 | 767 |
| Development costs | 14,430 | - | - | - | 14,430 |
| Divestments | (4,961) | - | - | (226) | (5,187) |
| Currency difference | - | - | 60 | - | 60 |
| At 31 December 2024 | 88,815 | 29,841 | 28,562 | 5,094 | 152,312 |
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| Amortization and impairments | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| At 31 December 2022 | 28,061 | 551 | 15,537 | 2,095 | 46,244 |
| Amortization | 11,479 | - | 2,908 | 576 | 14,963 |
| Impairments | 85 | 7 | - | - | 92 |
| Divestments | (14,318) | (114) | (4,201) | (1,273) | (19,906) |
| Currency difference | 2 | - | (4) | - | (2) |
| At 31 December 2023 | 25,309 | 444 | 14,240 | 1,398 | 41,391 |
| Amortization | 12,731 | - | 2,731 | 520 | 15,982 |
| Impairments | 301 | 8,780 | - | 290 | 9,371 |
| Divestments | (4,961) | - | - | (226) | (5,187) |
| Currency difference | - | - | 53 | - | 53 |
| At 31 December 2024 | 33,380 | 9,224 | 17,024 | 1,982 | 61,610 |
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| Carrying amount | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| At 31 December 2023 | 53,879 | 29,397 | 14,142 | 3,433 | 100,851 |
| At 31 December 2024 | 55,435 | 20,617 | 11,538 | 3,112 | 90,702 |
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| Estimated useful lives (years) | 5-10 | indefinite | 10 | 5-10 / indefinite | \u00a0 |
CM.com tests goodwill and intangible assets with indefinite useful lives annually, or whenever management identifies conditions that may indicate a risk of impairment.
For the purpose of impairment testing, goodwill acquired in a business combination is, from the acquisition date, allocated to each cash-generating units (CGUs), that are expected to benefit from the combination, irrespective of whether other assets or liabilities of the acquirement are assigned to those units. Domain names with indefinite useful lives are applicable to all CGUs and allocated based on an allocation key. During the restructuring into business units, several assets, (including goodwill and intangible assets with indefinite useful lives) were reallocated among CGUs to ensure they accurately reflect the business units (as explained in note 4):
| x \u20ac\u00a01,000 | Connect | Engage | Pay | Live |
|---|---|---|---|---|
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| Goodwill | 1,029 | 17,973 | - | 1,615 |
| Domain names | 888 | 461 | - | 218 |
| Pre-tax WACC | 14.50% | 13.74% | 15.91% | 13.11% |
| Post-tax WACC | 10.76% | 10.19% | 11.80% | 9.72% |
| x \u20ac\u00a01,000 | CPaaS | SaaS | Payments | Ticketing |
|---|---|---|---|---|
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| Goodwill | 1,059 | 18,810 | 8,780 | 748 |
| Domain names | 467 | 519 | 463 | 144 |
| Pre-tax WACC | 14.82% | 15.27% | 16.30% | 15.79% |
| Post-tax WACC | 11.00% | 11.33% | 12.10% | 11.72% |
CGUs are tested for impairment by comparing the carrying amount of each CGU to its recoverable amount. The recoverable amount is based on the net present value of future estimated cash flows (value-in-use).
The value-in-use calculation is based on cash flow projections for a period of five years and three months, with the exception of the CGU Pay, which uses a forecast period of eight years and three months. This extended period for CGU Pay is in accordance with IAS 36.33(b), which allows for a longer forecast period if justified.
Cash flow projections are derived from the company's strategic business plan (2025-2027), prepared bottom-up in accordance with the BU Leadership Teams, reviewed and approved by the Management Board and as part of the annual budgeting and forecasting cycle, also challenged and approved by the Supervisory Board. Forecasts beyond 2027 are more uncertain and are thus developed using a top-down approach based on expected Gross profit growth as outlined in our mid-term guidance. The extended forecast period for CGU Pay assumes stable growth to achieve an industry-standard EBITDA margin. Growth rates for Gross profit have been established as follows: 8% for Connect, 20% for Engage, 16% for Pay, and 25% for Live.
Other key assumptions applied in the discounted cash flow valuation and determining the terminal value are the growth rate applied 2,20% (2023: 2,20%) obtained from the Economic Intelligence Unit and the discount rate, according to a post-tax weighted average cost of capital (WACC) based on a peer group of similar listed entities and CM.com\u2019s target capital structure (see table). Pre-tax cash flows are not presented.
Sensitivity analysis, considering a change in the WACC of 1% and a change in the long-term growth rate of 0.5% indicates that for the CGU\u2019s Connect, Engage, and Live there is sufficient headroom (between the carrying amount and recoverable amount) to absorb adverse changes in the WACC and long-term growth rate, even if these changes were to occur simultaneously. For the CGU Pay a negative headroom is indicated.
Management justifies extending the forecasting period to eight years (2025-2032) based on industry norms, economic conditions, and the company\u2019s strategic plan. As a scale-up, a five-year horizon would not adequately represent the business\u2019s value due to ramp-up losses incurred from substantial investments in growth initiatives, reflecting our belief in the long-term viability of this business unit.
The additional years in the model are essential to achieving industry-average EBITDA margins. Achieving this requires specific transaction volumes to cover fixed operational expenses for compliance. Our strategic plan projects a consistent year-over-year growth rate up to 16%, resulting in a Gross profit CAGR of 14% for the forecasted period 2024-2032, enabling us to reach industry-average EBITDA margins within eight years. The actual Gross profit CAGR (2020-2024 was 21,4%), including the aquistition of SepaSoft B.V. in 2021. Current economic conditions in the payment industry do not indicate a decline in EBITDA margins.
In addition to detailed revenue targets, also targets for cost control are defined and included in the performance management cycle. Challenges on the input parameters in the budget and forecast models, together with a diligently executed process, provide the Pay BU leadership team, as well as the CM.com Management Board sufficient confidence. Management deems the growth rate, that can be achieved as a result of an effective sales focus combined with our integrated platform services, realistic.
The amount by which the CGU Pay' recoverable amount falls short of its carrying amount is \u20ac\u00a07.6\u00a0million based on the approved budget 2024 and forecast. This amount of headroom changes with around \u20ac\u00a06.6\u00a0million per 1% higher or lower Gross profit CAGR\u00a0 2024-2032 ceteris paribus. Management will monitor growth against this Gross profit CAGR of 14% for the upcoming reporting periods and update the impairment analyses in case of impairment triggers.
Impairment testing indicates that for the CGU Pay its carrying amount exceeds the recoverable amount. Sensitivity analysis was performed with the WACC plus-minus 1% and long-term cash flow growth rate plus-minus 0,5% resulting in a bandwidth on the headroom from minus \u20ac\u00a012.7\u00a0million for WACC +1% and long-term cash flow growth rate minus 0,5%, to minus \u20ac\u00a00.6\u00a0million for WACC -1% and long-term cash flow growth rate plus 0,5%.
Using a weighted average of three sensitivity scenarios, taking a prudent approach in determining the weight, management decided to fully impair the Goodwill associated with acquisitions in CGU Pay. An impairment charge of \u20ac\u00a08.8 million is recognized under \"Amortization, Depreciation, and Impairments\" in the profit or loss account.
The impairment recognition is due to challenges experienced in the optimization of our solution, expected volume growth taking longer than anticipated, and results lagging our budget due to competition. With a strategic focus on growing an integrated software proposition, including Pay solutions, management believes this will lead to the forecasted financial growth for CGU Pay.\u00a0No impairment charges were recognized during 2023. None of the impaired items were revalued under OCI during the period. Impairment charges are deemed non-deductible losses for corporate income tax purposes.
The outcome of the impairment testing model, based on the value-in-use, was challenged with a market approach valuation performed by an external valuation agency, taking the same key assumptions into account for the budget 2025 and growth rate as included in the discounted cash flow valuation.
The market approach consisted of two methods: one based on comparable listed companies (CCA), and one based on (public and private) transactions with a comparable acquisition target (CTA). Revenue multiples were derived for CCA and CTA and certain discounts were applied to control for the differences between the characteristics of the comparable companies and transactions and the CGU Pay. They concluded that management's value-in-use falls within the fair value range (less costs to sell) for the CGU Pay, with all values reflecting discounts and control premiums. Management is aware that this wide range reflects the Pay Business\u2019 technology, software, and platform ability to scale up both in terms of revenue and profitability. However, a considerable amount of time needs to be invested to reach this level.
Property, plant, and equipment are presented at cost less accumulated depreciation and, if applicable, less impairments. Costs includes the purchase price and all costs directly attributable to bringing the asset to the location and condition for it to be capable of operating as intended by management. Depreciation is based on the estimated useful life and calculated as a fixed percentage of cost, taking into account any residual value.
Depreciation is commenced from the date an asset is brought into use. Depreciation is recognized in profit or loss on a straight-line basis over the estimated useful life. Depreciation methods, useful lives, and residual values are reviewed at each reporting date.
A summary of the movements in property, plant, and equipment is provided:
| x \u20ac\u00a01,000 | Platform (hardware) | Furniture & fixtures | Vehicles | Hardware workplace | Leasehold improvements | Total |
|---|---|---|---|---|---|---|
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| Costs | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| At 31 December 2022 | 6,333 | 3,241 | 144 | 3,754 | 2,034 | 15,506 |
| Additions | 90 | 416 | 159 | 486 | 873 | 2,024 |
| Divestments | (2,616) | (1,102) | (33) | (2,275) | (85) | (6,111) |
| Currency difference | (37) | (1) | - | (12) | (2) | (52) |
| At 31 December 2023 | 3,770 | 2,554 | 270 | 1,953 | 2,820 | 11,367 |
| Additions | 1,721 | 108 | 24 | 293 | 53 | 2,199 |
| Divestments | (612) | (114) | (41) | (373) | (15) | (1,155) |
| Currency difference | 30 | 1 | - | 11 | - | 42 |
| At 31 December 2024 | 4,909 | 2,549 | 253 | 1,884 | 2,858 | 12,453 |
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| Depreciation and impairments | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| At 31 December 2022 | 3,438 | 908 | 98 | 1,848 | 422 | 6,714 |
| Depreciation | 444 | 373 | 108 | 689 | 250 | 1,864 |
| Impairments | 207 | 89 | 1 | 29 | 54 | 380 |
| Divestments | (2,616) | (1,102) | (33) | (2,263) | (81) | (6,095) |
| Currency difference | (11) | - | - | (5) | - | (16) |
| At 31 December 2023 | 1,462 | 268 | 174 | 298 | 645 | 2,847 |
| Depreciation | 540 | 339 | 5 | 610 | 275 | 1,769 |
| Impairments | 67 | - | - | - | - | 67 |
| Divestments | (612) | (114) | (37) | (373) | (15) | (1,151) |
| Currency difference | 16 | - | - | 16 | - | 32 |
| At 31 December 2024 | 1,473 | 493 | 142 | 551 | 905 | 3,564 |
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| Carrying amount | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| At 31 December 2023 | 2,308 | 2,286 | 96 | 1,655 | 2,175 | 8,520 |
| At 31 December 2024 | 3,436 | 2,056 | 111 | 1,333 | 1,953 | 8,889 |
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| Estimated useful lives (years) | 10 | 10 | 5 | 5 | 10 | \u00a0 |
Right-of-use assets are initially measured at cost and subsequently presented at cost less accumulated amortization and, if applicable, less impairments, and adjusted for certain re-measurements of the lease liability. Costs are initially measured at the present value of the lease payments that are outstanding at the commencement date, discounted using the interest rate implicit in the lease or, if that rate cannot be reliable determined, CM.com\u2019s incremental borrowing rate. Generally, CM.com uses its incremental borrowing rate as the discount rate. Amortization is based on the duration of the lease liability and calculated as a fixed percentage of cost, taking into account any residual value. Amortization is provided from the date an asset is available for use.
The lease liability is presented under borrowings in the consolidated statement of financial position, see note 17. The right-of-use assets are presented as a separate line in the consolidated statement of financial position. In relation to the leases, CM.com has recognized amortization and interest costs in the profit or loss. In the cash flow statement, the low-value leases (value lower than \u20ac\u00a05 thousand when new) and short-term leases (less then twelve months) are presented as part of the cash flow from operating activities. Interest paid and the repayments related to leases are presented as part of the cash flow from financing activities. The maturity analysis for the lease liabilities is included in note 12.
Amortization methods and useful lives are reviewed at each reporting date.
The determination of whether an arrangement is (or contains) a lease is based on the substance of the arrangement at the inception of the lease. The arrangement is, or contains, a lease if fulfillment of the arrangement is dependent on the use of a specific asset and the arrangement conveys a right to use the asset, even if that asset is not explicitly specified in an arrangement.
CM.com recognizes a right-of-use asset and a corresponding lease liability with respect to all lease arrangements in which it is the lessee, except for short-term leases and leases of low value assets. For these leases, CM.com recognizes the lease payments as an operating expense on a straight-line basis over the term of the lease, unless another systematic basis is more representative of the time pattern in which economic benefits from the leased assets are consumed.
CM.com recognizes a right-of-use asset and a lease liability at the lease commencement date. CM.com makes use of the expedient in IFRS 16 not to separate non-lease components from lease components.
The expenses and total cash outflow for leases are as follows:
| x \u20ac\u00a01,000 | 2024 | 2023 |
|---|---|---|
| \u00a0 | \u00a0 | \u00a0 |
| \u00a0 | \u00a0 | \u00a0 |
| Interest expense on lease liabilities | 547 | 582 |
| Expenses relating to short-term leases | 692 | 1,322 |
| Total cash outflow for leases | 3,989 | 7,429 |
A summary of the movements in right-of-use assets is provided:
| x \u20ac\u00a01,000 | Land and buildings | Furniture & fixtures | Platform (Hardware) | Platform (Software) | Vehicles | Total |
|---|---|---|---|---|---|---|
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| Costs | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| At 31 December 2022 | 20,450 | 236 | 16,563 | 1,127 | 962 | 39,338 |
| Additions | 902 | - | 10 | - | 307 | 1,219 |
| Ending of lease agreements | (976) | (116) | - | - | (311) | (1,403) |
| Currency difference | (46) | - | (49) | - | - | (95) |
| At 31 December 2023 | 20,330 | 120 | 16,524 | 1,127 | 958 | 39,059 |
| Additions | 1,849 | - | - | - | 229 | 2,078 |
| Ending of lease agreements | (1,269) | (91) | (101) | - | (226) | (1,687) |
| Currency difference | 39 | - | 32 | - | - | 71 |
| At 31 December 2024 | 20,949 | 29 | 16,455 | 1,127 | 961 | 39,521 |
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| Amortization and impairments | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| At 31 December 2022 | 4,517 | 181 | 2,979 | 565 | 438 | 8,680 |
| Amortization | 2,538 | 26 | 1,691 | 113 | 174 | 4,542 |
| Ending of lease agreements | (950) | (116) | - | - | (252) | (1,318) |
| Currency difference | (20) | - | (2) | - | - | (22) |
| At 31 December 2023 | 6,085 | 91 | 4,668 | 678 | 360 | 11,882 |
| Amortization | 2,442 | 22 | 1,639 | 113 | 250 | 4,466 |
| Ending of lease agreements | (1,169) | (91) | (101) | - | (201) | (1,562) |
| Impairments | - | - | 77 | - | - | 77 |
| Currency difference | 24 | - | 4 | - | - | 28 |
| At 31 December 2024 | 7,382 | 22 | 6,287 | 791 | 409 | 14,891 |
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| Carrying amount | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| At 31 December 2023 | 14,245 | 29 | 11,856 | 449 | 598 | 27,177 |
| At 31 December 2024 | 13,567 | 7 | 10,168 | 336 | 552 | 24,630 |
Credit risk represents the financial loss that would have to be recognized on the reporting date if a customer or counter party to a financial instrument fails to meet its contractual obligations and arises principally from CM.com\u2019s receivables from customers.
CM.com\u2019s exposure to credit risk is influenced mainly by the individual characteristics of each customer. The demographics of CM.com\u2019s customer base, including the default risk of the industry and country, in which customers operate, has less of an influence on credit risk. CM.com mitigates the credit risk through setting appropriate credit limits for each of its customers. We continuously monitor the creditworthiness of debtors and act appropriately on expired invoices.
The carrying amount of financial assets represents the maximum credit exposure. For CM.com\u2019s statement of the carrying amounts see note 15. No significant concentration of credit risk existed as at the reporting date.
The expected credit losses on trade receivables and accrued revenue are estimated using a provision matrix by reference to past payment behavior for a 12-month period of the debtor and analysis of the debtor\u2019s current financial position, adjusted for factors that are specific to the debtors, general economic conditions of the industry in which the debtors operate, and an assessment of both the current as well as the forecast direction of conditions at the reporting date.
The company has two other financial assets subject to credit risk. Other receivables, see note 14, which are contract assets relating to advanced payments to specific Live clients. The outstanding amounts are repaid through income generated by ticket sales. As of December 31, 2024, the repayment of a loan receivable with a carrying amount of \u20ac\u00a03.9 million (2023: nil) is overdue. Based on contractual agreements and underlying guarantees, it is management\u2019s best estimate that the loan receivable is collectible therefor a 0% risk rate is applied in the estimation of expected credit losses. As per 31 December 2024 the company has a contingent asset (see note 26) relating to a sub- lease agreement for one of its buildings which is prepaid, a 0% risk rate is applied.
For the other financial assets, such as other receivables and deposits, the assumption is applied that, due to low credit risk and the amounts involved, the expected credit losses are deemed as not significant.
The changes in the provision for expected credit losses are as follows:
| x \u20ac\u00a01,000 | 2024 | 2023 |
|---|---|---|
| \u00a0 | \u00a0 | \u00a0 |
| \u00a0 | \u00a0 | \u00a0 |
| Balance as per 1 January | 2,087 | 5,548 |
| Additions to provision | 1,534 | 1,604 |
| Utilization of provision | (710) | (4,850) |
| Release of provision | (230) | (215) |
| Balance as per 31 December | 2,681 | 2,087 |
The aging of accounts receivables and accrued revenue is set out below:
| x \u20ac\u00a01,000 | 2024 | 2024 | 2023 | 2023 |
|---|---|---|---|---|
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| \u00a0 | Gross | Net | Gross | Net |
| Current | 38,584 | 38,206 | 32,0981 | 31,8001 |
| 1 - 30 days | 8,723 | 8,547 | 6,252 | 6,032 |
| 31 - 60 days | 829 | 753 | 2,238 | 2,149 |
| > 60 days | 4,236 | 2,185 | 4,397 | 2,917 |
| \u00a0 | 52,372 | 49,691 | 44,985 | 42,898 |
The buckets and expected credit losses (\"ECL\") are estimated as follows:
| Bucket | ECL % | |
|---|---|---|
| \u00a0 | 2024 | 2023 |
| Current | 1.0% | 1.0% |
| 1 - 30 days | 1.7% | 1.7% |
| 31 - 60 days | 5.8% | 6.2% |
| > 60 days | 14.1% | 10.0% |
CM.com applies the IFRS 9 simplified approach for measuring expected credit losses, which uses a lifetime expected loss allowance for all trade receivables excluding VAT and accrued revenue. To measure the expected credit losses, trade receivables, and accrued revenue have been grouped based on shared credit risk characteristics which are determined based on the days past due. Accrued revenue relates to unbilled services and has substantially the same risk characteristics as the current trade receivables for the same types of contracts.
The expected loss rates are based on the payment profiles of sales over prior periods and the corresponding historical credit losses experienced related to those periods.
Trade receivables are written off when there is no reasonable expectation of recovery. Indicators that there is no reasonable expectation of recovery include, among others, the failure of a debtor to engage in a repayment plan with CM.com, and a failure to make contractual payments.
Impairments on trade receivables and accrued revenue are recognized excluding VAT through profit or loss under other operational expenses. Subsequent recoveries of amounts previously written off are credited against the same line item.
Market risk is the risk that changes in market prices, such as foreign exchange rates, interest rates and equity prices will affect CM.com\u2019s income or the value of its holdings of financial instruments. The objective of market risk management is to manage and control market risk exposures within acceptable parameters, while optimising the return on risk. The market risk comprises three types of risk: interest rate risk, foreign currency risk, and other risk. CM.com only recognizes the foreign currency risk as an applicable currency risk, due to the fact that there are no outstanding loans with variable interest and little other risk from external factors.
Foreign currency risk is the risk that the fair value or future cash flows of an exposure will fluctuate because of changes in foreign exchange rates. CM.com is exposed to currency risk on sales, purchases, and (current portion of) borrowings that are denominated in a currency other than the functional currency. The currencies giving rise to this risk are primarily USD, CNY, GBP, JPY (prior year HKD), ZAR (prior year SGD), and INR. As CM.com operates globally, purchases are made in multiple currencies. Alignment of sale and purchase contracts in local currencies mitigates the risk of foreign currency translations. The amounts below exclude the foundation's activities as the cash, receivables, and payables from the foundations both receive and pay out in the same currency, as such the foreign currency risk on these amounts is remote.\u00a0
CM.com's exposure to foreign currency risk was as follows based on notional amounts:
| x \u20ac\u00a01,000 | \u00a0 | USD | ZAR | JPY | INR | GBP | CNY |
|---|---|---|---|---|---|---|---|
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| Cash and cash equivalents | \u00a0 | 1,354 | 259 | 180 | 136 | 37 | 339 |
| Short-term loan receivables | \u00a0 | - | - | - | - | 4,385 | - |
| Trade receivables | \u00a0 | 16,011 | 132 | 16 | 97 | 176 | 103 |
| Trade payables | \u00a0 | (5,842) | (89) | (720) | (37) | (1,130) | (40) |
| \u00a0 | \u00a0 | 11,523 | 302 | (524) | 196 | 3,468 | 402 |
| x \u20ac\u00a01,000 | \u00a0 | USD | SGD | HKD | INR | GBP | CNY |
|---|---|---|---|---|---|---|---|
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| Cash and cash equivalents | \u00a0 | 2,041 | 202 | 74 | 160 | 410 | 1,028 |
| Trade receivables | \u00a0 | 11,526 | - | 60 | 185 | 617 | 252 |
| Trade payables | \u00a0 | (7,350) | (133) | (30) | (30) | (752) | (169) |
| \u00a0 | \u00a0 | 6,217 | 69 | 104 | 315 | 276 | 1,110 |
The summary below shows the effect on the result that a reasonable possible change in exchange rate (+5%, calculated from exchange rate), with all other variables held constant, could have for the primary foreign excange rates:
| x \u20ac\u00a01,000 | 2024 | 2023 |
|---|---|---|
| USD | 533 | 440 |
| CNY | 19 | 56 |
| GBP | 158 | 13 |
| JPY | (25) | - |
| ZAR | 14 | - |
| INR | 10 | 15 |
| SGD | - | 13 |
| HKD | - | (32) |
Liquidity risk is the risk that CM.com will not be able to meet its financial obligations as they fall due. CM.com\u2019s approach to manage liquidity is to ensure, as far as possible, that it will always have sufficient liquidity to meet its liabilities when due, under both normal and stressed conditions, without incurring unacceptable losses or risking damage to CM.com\u2019s reputation. Periodically, liquidity budgets are prepared. Liquidity risks are controlled through interim monitoring and possible adjustments. The liquidity budgets take cash constraints into account.
CM.com assessed the concentration of risk with respect to refinancing its debt and concluded it to be low. CM.com ensures that it has sufficient cash on demand to meet expected operational expenses for a period of 180 days, including the servicing of financial obligations; this excludes the potential impact of extreme circumstances that cannot reasonably be predicted, such as natural disasters.
On 14 February 2024, CM.com established a revolving credit facility with HSBC, totaling \u20ac\u00a015 million with an accordion option of another \u20ac\u00a010 million, including guarantees for the bank in case of default (2023: no facilities). The facility has not been used since its inception. Reference is made to note 33 subsequent events, as the existing facility is replaced on 12 February 2025 by a new facility with 3 banks, totaling \u20ac\u00a080 million. Together with an equity raise the company was able to redeem outstanding convertible bonds and retain financial flexibility for the company's operations. The facility is available through 12 February 2028, with two extension options of one year each, with an interest rate of EURIBOR + Margin (4-75%-5.50%), including covenants, and guarantees for the bank in case of default.
The table below summarizes the expected future cash flows from CM.com\u2019s financial liabilities based on contractual undiscounted payments:
| x \u20ac\u00a01,000 | Note | 0-3 months | 4-12 months | 1-5 years | Over 5 years | Total | Carrying amount |
|---|---|---|---|---|---|---|---|
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| Lease liabilities | 17 | 1,190 | 2,680 | 9,562 | 5,148 | 18,580 | 15,494 |
| Convertible bonds | 18 | 1,000 | 1,000 | 102,000 | - | 104,000 | 97,630 |
| Trade payables | 20 | 42,284 | - | - | - | 42,284 | 42,284 |
| Other financial liabilities | 20 | 57,815 | - | - | - | 57,815 | 57,815 |
| Tax debt | 17 | 75 | 224 | 523 | - | 822 | 785 |
| \u00a0 | \u00a0 | 102,364 | 3,904 | 112,085 | 5,148 | 223,501 | 214,008 |
| x \u20ac\u00a01,000 | Note | 0-3 months | 4-12 months | 1-5 years | Over 5 years | Total | Carrying amount |
|---|---|---|---|---|---|---|---|
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| Lease liabilities | 17 | 1,451 | 3,006 | 9,144 | 6,776 | 20,377 | 17,521 |
| Convertible bonds | 18 | 1,000 | 1,000 | 104,000 | - | 106,000 | 95,922 |
| Trade payables | 20 | 34,153 | - | - | - | 34,153 | 34,153 |
| Other financial liabilities1 | 20 | 56,814 | - | - | - | 56,814 | 56,814 |
| Tax debt2 | 17 | 75 | 224 | 822 | - | 1,121 | 1,053 |
| \u00a0 | \u00a0 | 93,493 | 4,230 | 113,966 | 6,776 | 218,465 | 205,463 |
CM.com tests goodwill and intangible assets with indefinite useful lives annually, or whenever management identifies conditions that may indicate a risk of impairment.
For the purpose of impairment testing, goodwill acquired in a business combination is, from the acquisition date, allocated to each cash-generating units (CGUs), that are expected to benefit from the combination, irrespective of whether other assets or liabilities of the acquirement are assigned to those units. Domain names with indefinite useful lives are applicable to all CGUs and allocated based on an allocation key. During the restructuring into business units, several assets, (including goodwill and intangible assets with indefinite useful lives) were reallocated among CGUs to ensure they accurately reflect the business units (as explained in note 4):
| x \u20ac\u00a01,000 | Connect | Engage | Pay | Live |
|---|---|---|---|---|
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| Goodwill | 1,029 | 17,973 | - | 1,615 |
| Domain names | 888 | 461 | - | 218 |
| Pre-tax WACC | 14.50% | 13.74% | 15.91% | 13.11% |
| Post-tax WACC | 10.76% | 10.19% | 11.80% | 9.72% |
| x \u20ac\u00a01,000 | CPaaS | SaaS | Payments | Ticketing |
|---|---|---|---|---|
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| Goodwill | 1,059 | 18,810 | 8,780 | 748 |
| Domain names | 467 | 519 | 463 | 144 |
| Pre-tax WACC | 14.82% | 15.27% | 16.30% | 15.79% |
| Post-tax WACC | 11.00% | 11.33% | 12.10% | 11.72% |
CGUs are tested for impairment by comparing the carrying amount of each CGU to its recoverable amount. The recoverable amount is based on the net present value of future estimated cash flows (value-in-use).
The value-in-use calculation is based on cash flow projections for a period of five years and three months, with the exception of the CGU Pay, which uses a forecast period of eight years and three months. This extended period for CGU Pay is in accordance with IAS 36.33(b), which allows for a longer forecast period if justified.
Cash flow projections are derived from the company's strategic business plan (2025-2027), prepared bottom-up in accordance with the BU Leadership Teams, reviewed and approved by the Management Board and as part of the annual budgeting and forecasting cycle, also challenged and approved by the Supervisory Board. Forecasts beyond 2027 are more uncertain and are thus developed using a top-down approach based on expected Gross profit growth as outlined in our mid-term guidance. The extended forecast period for CGU Pay assumes stable growth to achieve an industry-standard EBITDA margin. Growth rates for Gross profit have been established as follows: 8% for Connect, 20% for Engage, 16% for Pay, and 25% for Live.
Other key assumptions applied in the discounted cash flow valuation and determining the terminal value are the growth rate applied 2,20% (2023: 2,20%) obtained from the Economic Intelligence Unit and the discount rate, according to a post-tax weighted average cost of capital (WACC) based on a peer group of similar listed entities and CM.com\u2019s target capital structure (see table). Pre-tax cash flows are not presented.
Sensitivity analysis, considering a change in the WACC of 1% and a change in the long-term growth rate of 0.5% indicates that for the CGU\u2019s Connect, Engage, and Live there is sufficient headroom (between the carrying amount and recoverable amount) to absorb adverse changes in the WACC and long-term growth rate, even if these changes were to occur simultaneously. For the CGU Pay a negative headroom is indicated.
Management justifies extending the forecasting period to eight years (2025-2032) based on industry norms, economic conditions, and the company\u2019s strategic plan. As a scale-up, a five-year horizon would not adequately represent the business\u2019s value due to ramp-up losses incurred from substantial investments in growth initiatives, reflecting our belief in the long-term viability of this business unit.
The additional years in the model are essential to achieving industry-average EBITDA margins. Achieving this requires specific transaction volumes to cover fixed operational expenses for compliance. Our strategic plan projects a consistent year-over-year growth rate up to 16%, resulting in a Gross profit CAGR of 14% for the forecasted period 2024-2032, enabling us to reach industry-average EBITDA margins within eight years. The actual Gross profit CAGR (2020-2024 was 21,4%), including the aquistition of SepaSoft B.V. in 2021. Current economic conditions in the payment industry do not indicate a decline in EBITDA margins.
In addition to detailed revenue targets, also targets for cost control are defined and included in the performance management cycle. Challenges on the input parameters in the budget and forecast models, together with a diligently executed process, provide the Pay BU leadership team, as well as the CM.com Management Board sufficient confidence. Management deems the growth rate, that can be achieved as a result of an effective sales focus combined with our integrated platform services, realistic.
The amount by which the CGU Pay' recoverable amount falls short of its carrying amount is \u20ac\u00a07.6\u00a0million based on the approved budget 2024 and forecast. This amount of headroom changes with around \u20ac\u00a06.6\u00a0million per 1% higher or lower Gross profit CAGR\u00a0 2024-2032 ceteris paribus. Management will monitor growth against this Gross profit CAGR of 14% for the upcoming reporting periods and update the impairment analyses in case of impairment triggers.
Impairment testing indicates that for the CGU Pay its carrying amount exceeds the recoverable amount. Sensitivity analysis was performed with the WACC plus-minus 1% and long-term cash flow growth rate plus-minus 0,5% resulting in a bandwidth on the headroom from minus \u20ac\u00a012.7\u00a0million for WACC +1% and long-term cash flow growth rate minus 0,5%, to minus \u20ac\u00a00.6\u00a0million for WACC -1% and long-term cash flow growth rate plus 0,5%.
Using a weighted average of three sensitivity scenarios, taking a prudent approach in determining the weight, management decided to fully impair the Goodwill associated with acquisitions in CGU Pay. An impairment charge of \u20ac\u00a08.8 million is recognized under \"Amortization, Depreciation, and Impairments\" in the profit or loss account.
The impairment recognition is due to challenges experienced in the optimization of our solution, expected volume growth taking longer than anticipated, and results lagging our budget due to competition. With a strategic focus on growing an integrated software proposition, including Pay solutions, management believes this will lead to the forecasted financial growth for CGU Pay.\u00a0No impairment charges were recognized during 2023. None of the impaired items were revalued under OCI during the period. Impairment charges are deemed non-deductible losses for corporate income tax purposes.
The outcome of the impairment testing model, based on the value-in-use, was challenged with a market approach valuation performed by an external valuation agency, taking the same key assumptions into account for the budget 2025 and growth rate as included in the discounted cash flow valuation.
The market approach consisted of two methods: one based on comparable listed companies (CCA), and one based on (public and private) transactions with a comparable acquisition target (CTA). Revenue multiples were derived for CCA and CTA and certain discounts were applied to control for the differences between the characteristics of the comparable companies and transactions and the CGU Pay. They concluded that management's value-in-use falls within the fair value range (less costs to sell) for the CGU Pay, with all values reflecting discounts and control premiums. Management is aware that this wide range reflects the Pay Business\u2019 technology, software, and platform ability to scale up both in terms of revenue and profitability. However, a considerable amount of time needs to be invested to reach this level.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfAssetsExplanatory", "language": "en", "entity": "scheme:724500QDJRUMSPRDHW25", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "section-blocktag-i4940-1": { "value": "Property, plant, and equipment are presented at cost less accumulated depreciation and, if applicable, less impairments. Costs includes the purchase price and all costs directly attributable to bringing the asset to the location and condition for it to be capable of operating as intended by management. Depreciation is based on the estimated useful life and calculated as a fixed percentage of cost, taking into account any residual value.
Depreciation is commenced from the date an asset is brought into use. Depreciation is recognized in profit or loss on a straight-line basis over the estimated useful life. Depreciation methods, useful lives, and residual values are reviewed at each reporting date.
A summary of the movements in property, plant, and equipment is provided:
| x \u20ac\u00a01,000 | Platform (hardware) | Furniture & fixtures | Vehicles | Hardware workplace | Leasehold improvements | Total |
|---|---|---|---|---|---|---|
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| Costs | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| At 31 December 2022 | 6,333 | 3,241 | 144 | 3,754 | 2,034 | 15,506 |
| Additions | 90 | 416 | 159 | 486 | 873 | 2,024 |
| Divestments | (2,616) | (1,102) | (33) | (2,275) | (85) | (6,111) |
| Currency difference | (37) | (1) | - | (12) | (2) | (52) |
| At 31 December 2023 | 3,770 | 2,554 | 270 | 1,953 | 2,820 | 11,367 |
| Additions | 1,721 | 108 | 24 | 293 | 53 | 2,199 |
| Divestments | (612) | (114) | (41) | (373) | (15) | (1,155) |
| Currency difference | 30 | 1 | - | 11 | - | 42 |
| At 31 December 2024 | 4,909 | 2,549 | 253 | 1,884 | 2,858 | 12,453 |
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| Depreciation and impairments | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| At 31 December 2022 | 3,438 | 908 | 98 | 1,848 | 422 | 6,714 |
| Depreciation | 444 | 373 | 108 | 689 | 250 | 1,864 |
| Impairments | 207 | 89 | 1 | 29 | 54 | 380 |
| Divestments | (2,616) | (1,102) | (33) | (2,263) | (81) | (6,095) |
| Currency difference | (11) | - | - | (5) | - | (16) |
| At 31 December 2023 | 1,462 | 268 | 174 | 298 | 645 | 2,847 |
| Depreciation | 540 | 339 | 5 | 610 | 275 | 1,769 |
| Impairments | 67 | - | - | - | - | 67 |
| Divestments | (612) | (114) | (37) | (373) | (15) | (1,151) |
| Currency difference | 16 | - | - | 16 | - | 32 |
| At 31 December 2024 | 1,473 | 493 | 142 | 551 | 905 | 3,564 |
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| Carrying amount | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| At 31 December 2023 | 2,308 | 2,286 | 96 | 1,655 | 2,175 | 8,520 |
| At 31 December 2024 | 3,436 | 2,056 | 111 | 1,333 | 1,953 | 8,889 |
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| Estimated useful lives (years) | 10 | 10 | 5 | 5 | 10 | \u00a0 |
Property, plant, and equipment are presented at cost less accumulated depreciation and, if applicable, less impairments. Costs includes the purchase price and all costs directly attributable to bringing the asset to the location and condition for it to be capable of operating as intended by management. Depreciation is based on the estimated useful life and calculated as a fixed percentage of cost, taking into account any residual value.
Depreciation is commenced from the date an asset is brought into use. Depreciation is recognized in profit or loss on a straight-line basis over the estimated useful life. Depreciation methods, useful lives, and residual values are reviewed at each reporting date.
A summary of the movements in property, plant, and equipment is provided:
| x \u20ac\u00a01,000 | Platform (hardware) | Furniture & fixtures | Vehicles | Hardware workplace | Leasehold improvements | Total |
|---|---|---|---|---|---|---|
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| Costs | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| At 31 December 2022 | 6,333 | 3,241 | 144 | 3,754 | 2,034 | 15,506 |
| Additions | 90 | 416 | 159 | 486 | 873 | 2,024 |
| Divestments | (2,616) | (1,102) | (33) | (2,275) | (85) | (6,111) |
| Currency difference | (37) | (1) | - | (12) | (2) | (52) |
| At 31 December 2023 | 3,770 | 2,554 | 270 | 1,953 | 2,820 | 11,367 |
| Additions | 1,721 | 108 | 24 | 293 | 53 | 2,199 |
| Divestments | (612) | (114) | (41) | (373) | (15) | (1,155) |
| Currency difference | 30 | 1 | - | 11 | - | 42 |
| At 31 December 2024 | 4,909 | 2,549 | 253 | 1,884 | 2,858 | 12,453 |
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| Depreciation and impairments | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| At 31 December 2022 | 3,438 | 908 | 98 | 1,848 | 422 | 6,714 |
| Depreciation | 444 | 373 | 108 | 689 | 250 | 1,864 |
| Impairments | 207 | 89 | 1 | 29 | 54 | 380 |
| Divestments | (2,616) | (1,102) | (33) | (2,263) | (81) | (6,095) |
| Currency difference | (11) | - | - | (5) | - | (16) |
| At 31 December 2023 | 1,462 | 268 | 174 | 298 | 645 | 2,847 |
| Depreciation | 540 | 339 | 5 | 610 | 275 | 1,769 |
| Impairments | 67 | - | - | - | - | 67 |
| Divestments | (612) | (114) | (37) | (373) | (15) | (1,151) |
| Currency difference | 16 | - | - | 16 | - | 32 |
| At 31 December 2024 | 1,473 | 493 | 142 | 551 | 905 | 3,564 |
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| Carrying amount | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| At 31 December 2023 | 2,308 | 2,286 | 96 | 1,655 | 2,175 | 8,520 |
| At 31 December 2024 | 3,436 | 2,056 | 111 | 1,333 | 1,953 | 8,889 |
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| Estimated useful lives (years) | 10 | 10 | 5 | 5 | 10 | \u00a0 |
Right-of-use assets are initially measured at cost and subsequently presented at cost less accumulated amortization and, if applicable, less impairments, and adjusted for certain re-measurements of the lease liability. Costs are initially measured at the present value of the lease payments that are outstanding at the commencement date, discounted using the interest rate implicit in the lease or, if that rate cannot be reliable determined, CM.com\u2019s incremental borrowing rate. Generally, CM.com uses its incremental borrowing rate as the discount rate. Amortization is based on the duration of the lease liability and calculated as a fixed percentage of cost, taking into account any residual value. Amortization is provided from the date an asset is available for use.
The lease liability is presented under borrowings in the consolidated statement of financial position, see note 17. The right-of-use assets are presented as a separate line in the consolidated statement of financial position. In relation to the leases, CM.com has recognized amortization and interest costs in the profit or loss. In the cash flow statement, the low-value leases (value lower than \u20ac\u00a05 thousand when new) and short-term leases (less then twelve months) are presented as part of the cash flow from operating activities. Interest paid and the repayments related to leases are presented as part of the cash flow from financing activities. The maturity analysis for the lease liabilities is included in note 12.
Amortization methods and useful lives are reviewed at each reporting date.
The determination of whether an arrangement is (or contains) a lease is based on the substance of the arrangement at the inception of the lease. The arrangement is, or contains, a lease if fulfillment of the arrangement is dependent on the use of a specific asset and the arrangement conveys a right to use the asset, even if that asset is not explicitly specified in an arrangement.
CM.com recognizes a right-of-use asset and a corresponding lease liability with respect to all lease arrangements in which it is the lessee, except for short-term leases and leases of low value assets. For these leases, CM.com recognizes the lease payments as an operating expense on a straight-line basis over the term of the lease, unless another systematic basis is more representative of the time pattern in which economic benefits from the leased assets are consumed.
CM.com recognizes a right-of-use asset and a lease liability at the lease commencement date. CM.com makes use of the expedient in IFRS 16 not to separate non-lease components from lease components.
The expenses and total cash outflow for leases are as follows:
| x \u20ac\u00a01,000 | 2024 | 2023 |
|---|---|---|
| \u00a0 | \u00a0 | \u00a0 |
| \u00a0 | \u00a0 | \u00a0 |
| Interest expense on lease liabilities | 547 | 582 |
| Expenses relating to short-term leases | 692 | 1,322 |
| Total cash outflow for leases | 3,989 | 7,429 |
A summary of the movements in right-of-use assets is provided:
| x \u20ac\u00a01,000 | Land and buildings | Furniture & fixtures | Platform (Hardware) | Platform (Software) | Vehicles | Total |
|---|---|---|---|---|---|---|
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| Costs | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| At 31 December 2022 | 20,450 | 236 | 16,563 | 1,127 | 962 | 39,338 |
| Additions | 902 | - | 10 | - | 307 | 1,219 |
| Ending of lease agreements | (976) | (116) | - | - | (311) | (1,403) |
| Currency difference | (46) | - | (49) | - | - | (95) |
| At 31 December 2023 | 20,330 | 120 | 16,524 | 1,127 | 958 | 39,059 |
| Additions | 1,849 | - | - | - | 229 | 2,078 |
| Ending of lease agreements | (1,269) | (91) | (101) | - | (226) | (1,687) |
| Currency difference | 39 | - | 32 | - | - | 71 |
| At 31 December 2024 | 20,949 | 29 | 16,455 | 1,127 | 961 | 39,521 |
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| Amortization and impairments | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| At 31 December 2022 | 4,517 | 181 | 2,979 | 565 | 438 | 8,680 |
| Amortization | 2,538 | 26 | 1,691 | 113 | 174 | 4,542 |
| Ending of lease agreements | (950) | (116) | - | - | (252) | (1,318) |
| Currency difference | (20) | - | (2) | - | - | (22) |
| At 31 December 2023 | 6,085 | 91 | 4,668 | 678 | 360 | 11,882 |
| Amortization | 2,442 | 22 | 1,639 | 113 | 250 | 4,466 |
| Ending of lease agreements | (1,169) | (91) | (101) | - | (201) | (1,562) |
| Impairments | - | - | 77 | - | - | 77 |
| Currency difference | 24 | - | 4 | - | - | 28 |
| At 31 December 2024 | 7,382 | 22 | 6,287 | 791 | 409 | 14,891 |
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| Carrying amount | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| At 31 December 2023 | 14,245 | 29 | 11,856 | 449 | 598 | 27,177 |
| At 31 December 2024 | 13,567 | 7 | 10,168 | 336 | 552 | 24,630 |
Right-of-use assets are initially measured at cost and subsequently presented at cost less accumulated amortization and, if applicable, less impairments, and adjusted for certain re-measurements of the lease liability. Costs are initially measured at the present value of the lease payments that are outstanding at the commencement date, discounted using the interest rate implicit in the lease or, if that rate cannot be reliable determined, CM.com\u2019s incremental borrowing rate. Generally, CM.com uses its incremental borrowing rate as the discount rate. Amortization is based on the duration of the lease liability and calculated as a fixed percentage of cost, taking into account any residual value. Amortization is provided from the date an asset is available for use.
The lease liability is presented under borrowings in the consolidated statement of financial position, see note 17. The right-of-use assets are presented as a separate line in the consolidated statement of financial position. In relation to the leases, CM.com has recognized amortization and interest costs in the profit or loss. In the cash flow statement, the low-value leases (value lower than \u20ac\u00a05 thousand when new) and short-term leases (less then twelve months) are presented as part of the cash flow from operating activities. Interest paid and the repayments related to leases are presented as part of the cash flow from financing activities. The maturity analysis for the lease liabilities is included in note 12.
Amortization methods and useful lives are reviewed at each reporting date.
The determination of whether an arrangement is (or contains) a lease is based on the substance of the arrangement at the inception of the lease. The arrangement is, or contains, a lease if fulfillment of the arrangement is dependent on the use of a specific asset and the arrangement conveys a right to use the asset, even if that asset is not explicitly specified in an arrangement.
CM.com recognizes a right-of-use asset and a corresponding lease liability with respect to all lease arrangements in which it is the lessee, except for short-term leases and leases of low value assets. For these leases, CM.com recognizes the lease payments as an operating expense on a straight-line basis over the term of the lease, unless another systematic basis is more representative of the time pattern in which economic benefits from the leased assets are consumed.
CM.com recognizes a right-of-use asset and a lease liability at the lease commencement date. CM.com makes use of the expedient in IFRS 16 not to separate non-lease components from lease components.
The expenses and total cash outflow for leases are as follows:
| x \u20ac\u00a01,000 | 2024 | 2023 |
|---|---|---|
| \u00a0 | \u00a0 | \u00a0 |
| \u00a0 | \u00a0 | \u00a0 |
| Interest expense on lease liabilities | 547 | 582 |
| Expenses relating to short-term leases | 692 | 1,322 |
| Total cash outflow for leases | 3,989 | 7,429 |
A summary of the movements in right-of-use assets is provided:
| x \u20ac\u00a01,000 | Land and buildings | Furniture & fixtures | Platform (Hardware) | Platform (Software) | Vehicles | Total |
|---|---|---|---|---|---|---|
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| Costs | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| At 31 December 2022 | 20,450 | 236 | 16,563 | 1,127 | 962 | 39,338 |
| Additions | 902 | - | 10 | - | 307 | 1,219 |
| Ending of lease agreements | (976) | (116) | - | - | (311) | (1,403) |
| Currency difference | (46) | - | (49) | - | - | (95) |
| At 31 December 2023 | 20,330 | 120 | 16,524 | 1,127 | 958 | 39,059 |
| Additions | 1,849 | - | - | - | 229 | 2,078 |
| Ending of lease agreements | (1,269) | (91) | (101) | - | (226) | (1,687) |
| Currency difference | 39 | - | 32 | - | - | 71 |
| At 31 December 2024 | 20,949 | 29 | 16,455 | 1,127 | 961 | 39,521 |
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| Amortization and impairments | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| At 31 December 2022 | 4,517 | 181 | 2,979 | 565 | 438 | 8,680 |
| Amortization | 2,538 | 26 | 1,691 | 113 | 174 | 4,542 |
| Ending of lease agreements | (950) | (116) | - | - | (252) | (1,318) |
| Currency difference | (20) | - | (2) | - | - | (22) |
| At 31 December 2023 | 6,085 | 91 | 4,668 | 678 | 360 | 11,882 |
| Amortization | 2,442 | 22 | 1,639 | 113 | 250 | 4,466 |
| Ending of lease agreements | (1,169) | (91) | (101) | - | (201) | (1,562) |
| Impairments | - | - | 77 | - | - | 77 |
| Currency difference | 24 | - | 4 | - | - | 28 |
| At 31 December 2024 | 7,382 | 22 | 6,287 | 791 | 409 | 14,891 |
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| Carrying amount | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| At 31 December 2023 | 14,245 | 29 | 11,856 | 449 | 598 | 27,177 |
| At 31 December 2024 | 13,567 | 7 | 10,168 | 336 | 552 | 24,630 |
An associate is an entity over which CM.com has significant influence that is neither a subsidiary nor an interest in a joint venture. Significant influence is the power to participate in the financial and operating policy decisions of the investee, but is not control or joint control over those policies. Both results as assets and liabilities of associates or joint ventures are incorporated in these financial statements using the equity method of accounting, except when the investment is classified as held for sale, in which case it is accounted for in accordance with IFRS 5.
Details of associates are as follows:
| Name of associate | Principal activity | Place of incorporation and principal place of business | Proportion of ownership interest and voting rights | |||
|---|---|---|---|---|---|---|
| \u00a0 | \u00a0 | \u00a0 | 2024 | 2023 | ||
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| PHOS Services Ltd | Transforming mobile devices into POS terminals | Bromley, England | 0.00% | 0.00% |
Although CM.com previously held less than 20% of the equity shares of PHOS Services Ltd and 20% of the voting power at shareholder meetings, CM.com exercised significant influence as a result of the appointment as one of the investor directors contractual rights.
On 27 March 2023, CM.com sold its stake in PHOS Services Ltd. to an external party. The related loan receivable was repaid in 2023, and the resulting loss on the divestment of \u20ac\u00a0561 thousand was recorded as a share of result in associates in 2023. The loss calculation included an expected earn-out receivable of \u20ac\u00a0610 thousand against a targeted consideration of \u20ac\u00a02.5 million. As of 31 December 2023, the earn-out receivable was recognized under other receivables (see note 15). The final earn-out receivable was determined to be \u20ac\u00a0419 thousand and was settled in 2024. The difference between the estimated and final earn-out receivable was recognized as a fair value loss (see note 25) through profit or loss in 2024.
| x \u20ac\u00a01,000 | 2024 | 2023 |
|---|---|---|
| \u00a0 | \u00a0 | \u00a0 |
| Carrying amount as at 1 January | - | 1,823 |
| \u00a0 | \u00a0 | \u00a0 |
| Movements: | \u00a0 | \u00a0 |
| Sale of shares | - | (1,262) |
| Share of result in associates | - | (561) |
| Carrying amount as at 31 December | - | - |
An associate is an entity over which CM.com has significant influence that is neither a subsidiary nor an interest in a joint venture. Significant influence is the power to participate in the financial and operating policy decisions of the investee, but is not control or joint control over those policies. Both results as assets and liabilities of associates or joint ventures are incorporated in these financial statements using the equity method of accounting, except when the investment is classified as held for sale, in which case it is accounted for in accordance with IFRS 5.
Details of associates are as follows:
| Name of associate | Principal activity | Place of incorporation and principal place of business | Proportion of ownership interest and voting rights | |||
|---|---|---|---|---|---|---|
| \u00a0 | \u00a0 | \u00a0 | 2024 | 2023 | ||
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| PHOS Services Ltd | Transforming mobile devices into POS terminals | Bromley, England | 0.00% | 0.00% |
Although CM.com previously held less than 20% of the equity shares of PHOS Services Ltd and 20% of the voting power at shareholder meetings, CM.com exercised significant influence as a result of the appointment as one of the investor directors contractual rights.
On 27 March 2023, CM.com sold its stake in PHOS Services Ltd. to an external party. The related loan receivable was repaid in 2023, and the resulting loss on the divestment of \u20ac\u00a0561 thousand was recorded as a share of result in associates in 2023. The loss calculation included an expected earn-out receivable of \u20ac\u00a0610 thousand against a targeted consideration of \u20ac\u00a02.5 million. As of 31 December 2023, the earn-out receivable was recognized under other receivables (see note 15). The final earn-out receivable was determined to be \u20ac\u00a0419 thousand and was settled in 2024. The difference between the estimated and final earn-out receivable was recognized as a fair value loss (see note 25) through profit or loss in 2024.
| x \u20ac\u00a01,000 | 2024 | 2023 |
|---|---|---|
| \u00a0 | \u00a0 | \u00a0 |
| Carrying amount as at 1 January | - | 1,823 |
| \u00a0 | \u00a0 | \u00a0 |
| Movements: | \u00a0 | \u00a0 |
| Sale of shares | - | (1,262) |
| Share of result in associates | - | (561) |
| Carrying amount as at 31 December | - | - |
An associate is an entity over which CM.com has significant influence that is neither a subsidiary nor an interest in a joint venture. Significant influence is the power to participate in the financial and operating policy decisions of the investee, but is not control or joint control over those policies. Both results as assets and liabilities of associates or joint ventures are incorporated in these financial statements using the equity method of accounting, except when the investment is classified as held for sale, in which case it is accounted for in accordance with IFRS 5.
Details of associates are as follows:
| Name of associate | Principal activity | Place of incorporation and principal place of business | Proportion of ownership interest and voting rights | |||
|---|---|---|---|---|---|---|
| \u00a0 | \u00a0 | \u00a0 | 2024 | 2023 | ||
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| PHOS Services Ltd | Transforming mobile devices into POS terminals | Bromley, England | 0.00% | 0.00% |
Although CM.com previously held less than 20% of the equity shares of PHOS Services Ltd and 20% of the voting power at shareholder meetings, CM.com exercised significant influence as a result of the appointment as one of the investor directors contractual rights.
On 27 March 2023, CM.com sold its stake in PHOS Services Ltd. to an external party. The related loan receivable was repaid in 2023, and the resulting loss on the divestment of \u20ac\u00a0561 thousand was recorded as a share of result in associates in 2023. The loss calculation included an expected earn-out receivable of \u20ac\u00a0610 thousand against a targeted consideration of \u20ac\u00a02.5 million. As of 31 December 2023, the earn-out receivable was recognized under other receivables (see note 15). The final earn-out receivable was determined to be \u20ac\u00a0419 thousand and was settled in 2024. The difference between the estimated and final earn-out receivable was recognized as a fair value loss (see note 25) through profit or loss in 2024.
| x \u20ac\u00a01,000 | 2024 | 2023 |
|---|---|---|
| \u00a0 | \u00a0 | \u00a0 |
| Carrying amount as at 1 January | - | 1,823 |
| \u00a0 | \u00a0 | \u00a0 |
| Movements: | \u00a0 | \u00a0 |
| Sale of shares | - | (1,262) |
| Share of result in associates | - | (561) |
| Carrying amount as at 31 December | - | - |
An associate is an entity over which CM.com has significant influence that is neither a subsidiary nor an interest in a joint venture. Significant influence is the power to participate in the financial and operating policy decisions of the investee, but is not control or joint control over those policies. Both results as assets and liabilities of associates or joint ventures are incorporated in these financial statements using the equity method of accounting, except when the investment is classified as held for sale, in which case it is accounted for in accordance with IFRS 5.
Details of associates are as follows:
| Name of associate | Principal activity | Place of incorporation and principal place of business | Proportion of ownership interest and voting rights | |||
|---|---|---|---|---|---|---|
| \u00a0 | \u00a0 | \u00a0 | 2024 | 2023 | ||
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| PHOS Services Ltd | Transforming mobile devices into POS terminals | Bromley, England | 0.00% | 0.00% |
Although CM.com previously held less than 20% of the equity shares of PHOS Services Ltd and 20% of the voting power at shareholder meetings, CM.com exercised significant influence as a result of the appointment as one of the investor directors contractual rights.
On 27 March 2023, CM.com sold its stake in PHOS Services Ltd. to an external party. The related loan receivable was repaid in 2023, and the resulting loss on the divestment of \u20ac\u00a0561 thousand was recorded as a share of result in associates in 2023. The loss calculation included an expected earn-out receivable of \u20ac\u00a0610 thousand against a targeted consideration of \u20ac\u00a02.5 million. As of 31 December 2023, the earn-out receivable was recognized under other receivables (see note 15). The final earn-out receivable was determined to be \u20ac\u00a0419 thousand and was settled in 2024. The difference between the estimated and final earn-out receivable was recognized as a fair value loss (see note 25) through profit or loss in 2024.
| x \u20ac\u00a01,000 | 2024 | 2023 |
|---|---|---|
| \u00a0 | \u00a0 | \u00a0 |
| Carrying amount as at 1 January | - | 1,823 |
| \u00a0 | \u00a0 | \u00a0 |
| Movements: | \u00a0 | \u00a0 |
| Sale of shares | - | (1,262) |
| Share of result in associates | - | (561) |
| Carrying amount as at 31 December | - | - |
Current income tax assets and liabilities are measured at the amount expected to be recovered from or paid to the tax authorities. The tax rates and tax laws used to compute these amounts are those that are enacted or substantively enacted at the reporting date in the countries where CM.com operates and generates taxable income. Management periodically evaluates positions taken in the tax returns with respect to situations in which applicable tax regulations are subject to interpretation and establishes provisions where appropriate. The effective income tax amount on the company\u2019s result before tax differs from the statutory income tax amount that would arise using the applicable statutory income tax rate.
CM.com N.V. forms a fiscal unity for corporate income tax purposes with the Dutch subsidiaries, excluding CM.com Ticket Guarantee N.V. Income tax is allocated to individual members of the fiscal unity as if they were independently liable for tax.
Major components of the income tax expenses are:
| x \u20ac\u00a01,000 | 2024 | 2023 |
|---|---|---|
| \u00a0 | \u00a0 | \u00a0 |
| \u00a0 | \u00a0 | \u00a0 |
| Current tax: | \u00a0 | \u00a0 |
| Current year | 708 | 608 |
| Adjustments prior periods | 60 | 167 |
| \u00a0 | \u00a0 | \u00a0 |
| \u00a0 | \u00a0 | \u00a0 |
| Deferred tax: | \u00a0 | \u00a0 |
| Movement in temporary differences | (1,101) | (2,714)1 |
| Movement in tax losses carried forward | 856 | 1,1791 |
| Tax rate differences | 32 | 28 |
| Taxation according to profit or loss account | 555 | (732) |
The effective tax rate for 2024 is minus 2.9% (2023: 2.5%) and can be as follows:
| x \u20ac\u00a01,000 | 2024 | 2023 |
|---|---|---|
| \u00a0 | \u00a0 | \u00a0 |
| \u00a0 | \u00a0 | \u00a0 |
| Result before tax | (19,258) | (29,451) |
| Income tax at statutory tax rate (25.8%) | (4,969) | (7,597) |
| Exempt income | - | 145 |
| Non-deductible expenses | 2,680 | 128 |
| Rate differential | (440) | 220 |
| Non-recognition of deferred tax assets | 3,987 | 6,913 |
| Tax losses utilised | (542) | (543) |
| Deferred tax asset through equity | (221) | (202) |
| Tax relating to prior periods | 60 | 204 |
| Tax according to the profit or loss account | 555 | (732) |
| Effective tax rate | (2.9%) | 2.5% |
Deferred tax is recognized using the balance sheet method, providing for carry-forward losses and temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for taxation purposes. Deferred tax is measured at the tax rates that are expected to be applied to temporary differences when they reverse, based on the laws that have been enacted or substantively enacted at the reporting date.
Deferred tax assets and liabilities are offset if there is a legally enforceable right to offset current tax liabilities and assets, and they relate to income taxes levied by the same tax authority on the same taxable entity.
Deferred tax assets (DTA) for carried-forward tax losses are recognized to the extent that it is probable that taxable profits will be available against which the unused tax losses can be utilized. CM.com has tax losses carried-forward of \u20ac\u00a0115.7 million as at 31 December 2024 (2023: \u20ac\u00a0107.2 million), out of which \u20ac\u00a00.9 million (2023: \u20ac\u00a00.3 million) expires in the following five years (for this no DTA is formed) and \u20ac\u00a00.3 million (2023: \u20ac\u00a00.5 million) will expire after five years (for this a DTA of \u20ac\u00a013 thousand is formed). \u20ac\u00a0114.5 million (2023: \u20ac\u00a0106.4 million) can be carried forward indefinitely (of this for a total of \u20ac\u00a04 million a DTA is formed). For unused tax losses of \u20ac\u00a099.4 million (2023: \u20ac\u00a086.4\u00a0million) no deferred tax asset is formed.
Deferred tax assets recognized and movements thereon:
| x \u20ac\u00a01,000 | Total | Convertible bonds | Right-of-use assets | Tax losses | Deferred costs |
|---|---|---|---|---|---|
| Carrying amount as at 31 December 2022 after netting | 1,506 | - | 38 | 975 | 493 |
| Netting of tax | 9,714 | 845 | 4,194 | 4,675 | - |
| Carrying amount as at 31 December 2022 before netting | 11,220 | 845 | 4,232 | 5,650 | 493 |
| Mutations through profit or loss | (1,179) | - | - | (1,179) | - |
| Mutations through equity | (202) | (202) | - | - | - |
| Charge to profit or loss | (217) | - | (358) | - | 141 |
| Exchange differences | (46) | - | - | (14) | (32) |
| Carrying amount as at 31 December 2023 before netting | 9,576 | 643 | 3,874 | 4,457 | 602 |
| Netting of tax | (8,440) | (643) | (3,750) | (4,047) | - |
| Carrying amount as at 31 December 2023 after netting | 1,136 | - | 124 | 410 | 602 |
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| Netting of tax | 8,440 | 643 | 3,750 | 4,047 | - |
| Mutations through profit or loss | (856) | - | - | (856) | - |
| Mutations through equity | (221) | (221) | - | - | - |
| Charge to profit or loss | (128) | - | (162) | - | 34 |
| Exchange differences | 25 | - | - | 7 | 18 |
| Carrying amount as at 31 December 2024 before netting | 8,396 | 422 | 3,712 | 3,608 | 654 |
| Netting of tax | (7,154) | (422) | (3,556) | (3,176) | - |
| Carrying amount as at 31 December 2024 after netting | 1,242 | - | 156 | 432 | 654 |
Deferred tax liabilities recognized and movements thereon:
| x \u20ac\u00a01,000 | Total | Convertible bonds | Right-of-use liabilities | Other temporary differences |
|---|---|---|---|---|
| Carrying amount as at 31 December 2022 after netting | 3,162 | 483 | - | 2,679 |
| Netting of tax | 9,714 | 845 | 4,194 | 4,675 |
| Carrying amount as at 31 December 2022 before netting | 12,876 | 1,328 | 4,194 | 7,354 |
| Mutations through profit or loss | (2,901) | (340) | (444) | (2,117) |
| Effect of change in tax rate | - | - | - | - |
| Carrying amount as at 31 December 2023 before netting | 9,975 | 988 | 3,750 | 5,237 |
| Netting of tax | (8,440) | (643) | (3,750) | (4,047) |
| Carrying amount as at 31 December 2023 after netting | 1,535 | 345 | - | 1,190 |
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| Netting of tax | 8,440 | 643 | 3,750 | 4,047 |
| Mutations through profit or loss | (1,197) | (355) | (194) | (648) |
| Exchange differences | (39) | - | - | (39) |
| Carrying amount as at 31 December 2024 before netting | 8,739 | 633 | 3,556 | 4,550 |
| Netting of tax | (7,154) | (422) | (3,556) | (3,176) |
| Carrying amount as at 31 December 2024 after netting | 1,585 | 211 | - | 1,374 |
Current income tax assets and liabilities are measured at the amount expected to be recovered from or paid to the tax authorities. The tax rates and tax laws used to compute these amounts are those that are enacted or substantively enacted at the reporting date in the countries where CM.com operates and generates taxable income. Management periodically evaluates positions taken in the tax returns with respect to situations in which applicable tax regulations are subject to interpretation and establishes provisions where appropriate. The effective income tax amount on the company\u2019s result before tax differs from the statutory income tax amount that would arise using the applicable statutory income tax rate.
CM.com N.V. forms a fiscal unity for corporate income tax purposes with the Dutch subsidiaries, excluding CM.com Ticket Guarantee N.V. Income tax is allocated to individual members of the fiscal unity as if they were independently liable for tax.
Major components of the income tax expenses are:
| x \u20ac\u00a01,000 | 2024 | 2023 |
|---|---|---|
| \u00a0 | \u00a0 | \u00a0 |
| \u00a0 | \u00a0 | \u00a0 |
| Current tax: | \u00a0 | \u00a0 |
| Current year | 708 | 608 |
| Adjustments prior periods | 60 | 167 |
| \u00a0 | \u00a0 | \u00a0 |
| \u00a0 | \u00a0 | \u00a0 |
| Deferred tax: | \u00a0 | \u00a0 |
| Movement in temporary differences | (1,101) | (2,714)1 |
| Movement in tax losses carried forward | 856 | 1,1791 |
| Tax rate differences | 32 | 28 |
| Taxation according to profit or loss account | 555 | (732) |
The effective tax rate for 2024 is minus 2.9% (2023: 2.5%) and can be as follows:
| x \u20ac\u00a01,000 | 2024 | 2023 |
|---|---|---|
| \u00a0 | \u00a0 | \u00a0 |
| \u00a0 | \u00a0 | \u00a0 |
| Result before tax | (19,258) | (29,451) |
| Income tax at statutory tax rate (25.8%) | (4,969) | (7,597) |
| Exempt income | - | 145 |
| Non-deductible expenses | 2,680 | 128 |
| Rate differential | (440) | 220 |
| Non-recognition of deferred tax assets | 3,987 | 6,913 |
| Tax losses utilised | (542) | (543) |
| Deferred tax asset through equity | (221) | (202) |
| Tax relating to prior periods | 60 | 204 |
| Tax according to the profit or loss account | 555 | (732) |
| Effective tax rate | (2.9%) | 2.5% |
Deferred tax is recognized using the balance sheet method, providing for carry-forward losses and temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for taxation purposes. Deferred tax is measured at the tax rates that are expected to be applied to temporary differences when they reverse, based on the laws that have been enacted or substantively enacted at the reporting date.
Deferred tax assets and liabilities are offset if there is a legally enforceable right to offset current tax liabilities and assets, and they relate to income taxes levied by the same tax authority on the same taxable entity.
Deferred tax assets (DTA) for carried-forward tax losses are recognized to the extent that it is probable that taxable profits will be available against which the unused tax losses can be utilized. CM.com has tax losses carried-forward of \u20ac\u00a0115.7 million as at 31 December 2024 (2023: \u20ac\u00a0107.2 million), out of which \u20ac\u00a00.9 million (2023: \u20ac\u00a00.3 million) expires in the following five years (for this no DTA is formed) and \u20ac\u00a00.3 million (2023: \u20ac\u00a00.5 million) will expire after five years (for this a DTA of \u20ac\u00a013 thousand is formed). \u20ac\u00a0114.5 million (2023: \u20ac\u00a0106.4 million) can be carried forward indefinitely (of this for a total of \u20ac\u00a04 million a DTA is formed). For unused tax losses of \u20ac\u00a099.4 million (2023: \u20ac\u00a086.4\u00a0million) no deferred tax asset is formed.
Deferred tax assets recognized and movements thereon:
| x \u20ac\u00a01,000 | Total | Convertible bonds | Right-of-use assets | Tax losses | Deferred costs |
|---|---|---|---|---|---|
| Carrying amount as at 31 December 2022 after netting | 1,506 | - | 38 | 975 | 493 |
| Netting of tax | 9,714 | 845 | 4,194 | 4,675 | - |
| Carrying amount as at 31 December 2022 before netting | 11,220 | 845 | 4,232 | 5,650 | 493 |
| Mutations through profit or loss | (1,179) | - | - | (1,179) | - |
| Mutations through equity | (202) | (202) | - | - | - |
| Charge to profit or loss | (217) | - | (358) | - | 141 |
| Exchange differences | (46) | - | - | (14) | (32) |
| Carrying amount as at 31 December 2023 before netting | 9,576 | 643 | 3,874 | 4,457 | 602 |
| Netting of tax | (8,440) | (643) | (3,750) | (4,047) | - |
| Carrying amount as at 31 December 2023 after netting | 1,136 | - | 124 | 410 | 602 |
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| Netting of tax | 8,440 | 643 | 3,750 | 4,047 | - |
| Mutations through profit or loss | (856) | - | - | (856) | - |
| Mutations through equity | (221) | (221) | - | - | - |
| Charge to profit or loss | (128) | - | (162) | - | 34 |
| Exchange differences | 25 | - | - | 7 | 18 |
| Carrying amount as at 31 December 2024 before netting | 8,396 | 422 | 3,712 | 3,608 | 654 |
| Netting of tax | (7,154) | (422) | (3,556) | (3,176) | - |
| Carrying amount as at 31 December 2024 after netting | 1,242 | - | 156 | 432 | 654 |
Deferred tax liabilities recognized and movements thereon:
| x \u20ac\u00a01,000 | Total | Convertible bonds | Right-of-use liabilities | Other temporary differences |
|---|---|---|---|---|
| Carrying amount as at 31 December 2022 after netting | 3,162 | 483 | - | 2,679 |
| Netting of tax | 9,714 | 845 | 4,194 | 4,675 |
| Carrying amount as at 31 December 2022 before netting | 12,876 | 1,328 | 4,194 | 7,354 |
| Mutations through profit or loss | (2,901) | (340) | (444) | (2,117) |
| Effect of change in tax rate | - | - | - | - |
| Carrying amount as at 31 December 2023 before netting | 9,975 | 988 | 3,750 | 5,237 |
| Netting of tax | (8,440) | (643) | (3,750) | (4,047) |
| Carrying amount as at 31 December 2023 after netting | 1,535 | 345 | - | 1,190 |
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| Netting of tax | 8,440 | 643 | 3,750 | 4,047 |
| Mutations through profit or loss | (1,197) | (355) | (194) | (648) |
| Exchange differences | (39) | - | - | (39) |
| Carrying amount as at 31 December 2024 before netting | 8,739 | 633 | 3,556 | 4,550 |
| Netting of tax | (7,154) | (422) | (3,556) | (3,176) |
| Carrying amount as at 31 December 2024 after netting | 1,585 | 211 | - | 1,374 |
Current income tax assets and liabilities are measured at the amount expected to be recovered from or paid to the tax authorities. The tax rates and tax laws used to compute these amounts are those that are enacted or substantively enacted at the reporting date in the countries where CM.com operates and generates taxable income. Management periodically evaluates positions taken in the tax returns with respect to situations in which applicable tax regulations are subject to interpretation and establishes provisions where appropriate. The effective income tax amount on the company\u2019s result before tax differs from the statutory income tax amount that would arise using the applicable statutory income tax rate.
CM.com N.V. forms a fiscal unity for corporate income tax purposes with the Dutch subsidiaries, excluding CM.com Ticket Guarantee N.V. Income tax is allocated to individual members of the fiscal unity as if they were independently liable for tax.
Major components of the income tax expenses are:
| x \u20ac\u00a01,000 | 2024 | 2023 |
|---|---|---|
| \u00a0 | \u00a0 | \u00a0 |
| \u00a0 | \u00a0 | \u00a0 |
| Current tax: | \u00a0 | \u00a0 |
| Current year | 708 | 608 |
| Adjustments prior periods | 60 | 167 |
| \u00a0 | \u00a0 | \u00a0 |
| \u00a0 | \u00a0 | \u00a0 |
| Deferred tax: | \u00a0 | \u00a0 |
| Movement in temporary differences | (1,101) | (2,714)1 |
| Movement in tax losses carried forward | 856 | 1,1791 |
| Tax rate differences | 32 | 28 |
| Taxation according to profit or loss account | 555 | (732) |
The effective tax rate for 2024 is minus 2.9% (2023: 2.5%) and can be as follows:
| x \u20ac\u00a01,000 | 2024 | 2023 |
|---|---|---|
| \u00a0 | \u00a0 | \u00a0 |
| \u00a0 | \u00a0 | \u00a0 |
| Result before tax | (19,258) | (29,451) |
| Income tax at statutory tax rate (25.8%) | (4,969) | (7,597) |
| Exempt income | - | 145 |
| Non-deductible expenses | 2,680 | 128 |
| Rate differential | (440) | 220 |
| Non-recognition of deferred tax assets | 3,987 | 6,913 |
| Tax losses utilised | (542) | (543) |
| Deferred tax asset through equity | (221) | (202) |
| Tax relating to prior periods | 60 | 204 |
| Tax according to the profit or loss account | 555 | (732) |
| Effective tax rate | (2.9%) | 2.5% |
Deferred tax is recognized using the balance sheet method, providing for carry-forward losses and temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for taxation purposes. Deferred tax is measured at the tax rates that are expected to be applied to temporary differences when they reverse, based on the laws that have been enacted or substantively enacted at the reporting date.
Deferred tax assets and liabilities are offset if there is a legally enforceable right to offset current tax liabilities and assets, and they relate to income taxes levied by the same tax authority on the same taxable entity.
Deferred tax assets (DTA) for carried-forward tax losses are recognized to the extent that it is probable that taxable profits will be available against which the unused tax losses can be utilized. CM.com has tax losses carried-forward of \u20ac\u00a0115.7 million as at 31 December 2024 (2023: \u20ac\u00a0107.2 million), out of which \u20ac\u00a00.9 million (2023: \u20ac\u00a00.3 million) expires in the following five years (for this no DTA is formed) and \u20ac\u00a00.3 million (2023: \u20ac\u00a00.5 million) will expire after five years (for this a DTA of \u20ac\u00a013 thousand is formed). \u20ac\u00a0114.5 million (2023: \u20ac\u00a0106.4 million) can be carried forward indefinitely (of this for a total of \u20ac\u00a04 million a DTA is formed). For unused tax losses of \u20ac\u00a099.4 million (2023: \u20ac\u00a086.4\u00a0million) no deferred tax asset is formed.
Deferred tax assets recognized and movements thereon:
| x \u20ac\u00a01,000 | Total | Convertible bonds | Right-of-use assets | Tax losses | Deferred costs |
|---|---|---|---|---|---|
| Carrying amount as at 31 December 2022 after netting | 1,506 | - | 38 | 975 | 493 |
| Netting of tax | 9,714 | 845 | 4,194 | 4,675 | - |
| Carrying amount as at 31 December 2022 before netting | 11,220 | 845 | 4,232 | 5,650 | 493 |
| Mutations through profit or loss | (1,179) | - | - | (1,179) | - |
| Mutations through equity | (202) | (202) | - | - | - |
| Charge to profit or loss | (217) | - | (358) | - | 141 |
| Exchange differences | (46) | - | - | (14) | (32) |
| Carrying amount as at 31 December 2023 before netting | 9,576 | 643 | 3,874 | 4,457 | 602 |
| Netting of tax | (8,440) | (643) | (3,750) | (4,047) | - |
| Carrying amount as at 31 December 2023 after netting | 1,136 | - | 124 | 410 | 602 |
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| Netting of tax | 8,440 | 643 | 3,750 | 4,047 | - |
| Mutations through profit or loss | (856) | - | - | (856) | - |
| Mutations through equity | (221) | (221) | - | - | - |
| Charge to profit or loss | (128) | - | (162) | - | 34 |
| Exchange differences | 25 | - | - | 7 | 18 |
| Carrying amount as at 31 December 2024 before netting | 8,396 | 422 | 3,712 | 3,608 | 654 |
| Netting of tax | (7,154) | (422) | (3,556) | (3,176) | - |
| Carrying amount as at 31 December 2024 after netting | 1,242 | - | 156 | 432 | 654 |
Deferred tax liabilities recognized and movements thereon:
| x \u20ac\u00a01,000 | Total | Convertible bonds | Right-of-use liabilities | Other temporary differences |
|---|---|---|---|---|
| Carrying amount as at 31 December 2022 after netting | 3,162 | 483 | - | 2,679 |
| Netting of tax | 9,714 | 845 | 4,194 | 4,675 |
| Carrying amount as at 31 December 2022 before netting | 12,876 | 1,328 | 4,194 | 7,354 |
| Mutations through profit or loss | (2,901) | (340) | (444) | (2,117) |
| Effect of change in tax rate | - | - | - | - |
| Carrying amount as at 31 December 2023 before netting | 9,975 | 988 | 3,750 | 5,237 |
| Netting of tax | (8,440) | (643) | (3,750) | (4,047) |
| Carrying amount as at 31 December 2023 after netting | 1,535 | 345 | - | 1,190 |
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| Netting of tax | 8,440 | 643 | 3,750 | 4,047 |
| Mutations through profit or loss | (1,197) | (355) | (194) | (648) |
| Exchange differences | (39) | - | - | (39) |
| Carrying amount as at 31 December 2024 before netting | 8,739 | 633 | 3,556 | 4,550 |
| Netting of tax | (7,154) | (422) | (3,556) | (3,176) |
| Carrying amount as at 31 December 2024 after netting | 1,585 | 211 | - | 1,374 |
The revenue received in advance mainly consists of prepaid subscription fees (linearly released over the contract period) or prepaid CPaaS balances (released by usage). The amount as per 31 December 2023 is settled in full in 2024. The amount as per 31 December 2024, will be settled in full in 2025. The increase in contract liabilities compared to 2024 is entirely attributed to the received prepaid balances in the Connect business unit.
", "dimensions": { "concept": "ifrs-full:DisclosureOfDeferredIncomeExplanatory", "language": "en", "entity": "scheme:724500QDJRUMSPRDHW25", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "section-blocktag-i5560-4": { "value": "Current income tax assets and liabilities are measured at the amount expected to be recovered from or paid to the tax authorities. The tax rates and tax laws used to compute these amounts are those that are enacted or substantively enacted at the reporting date in the countries where CM.com operates and generates taxable income. Management periodically evaluates positions taken in the tax returns with respect to situations in which applicable tax regulations are subject to interpretation and establishes provisions where appropriate. The effective income tax amount on the company\u2019s result before tax differs from the statutory income tax amount that would arise using the applicable statutory income tax rate.
CM.com N.V. forms a fiscal unity for corporate income tax purposes with the Dutch subsidiaries, excluding CM.com Ticket Guarantee N.V. Income tax is allocated to individual members of the fiscal unity as if they were independently liable for tax.
Major components of the income tax expenses are:
| x \u20ac\u00a01,000 | 2024 | 2023 |
|---|---|---|
| \u00a0 | \u00a0 | \u00a0 |
| \u00a0 | \u00a0 | \u00a0 |
| Current tax: | \u00a0 | \u00a0 |
| Current year | 708 | 608 |
| Adjustments prior periods | 60 | 167 |
| \u00a0 | \u00a0 | \u00a0 |
| \u00a0 | \u00a0 | \u00a0 |
| Deferred tax: | \u00a0 | \u00a0 |
| Movement in temporary differences | (1,101) | (2,714)1 |
| Movement in tax losses carried forward | 856 | 1,1791 |
| Tax rate differences | 32 | 28 |
| Taxation according to profit or loss account | 555 | (732) |
The effective tax rate for 2024 is minus 2.9% (2023: 2.5%) and can be as follows:
| x \u20ac\u00a01,000 | 2024 | 2023 |
|---|---|---|
| \u00a0 | \u00a0 | \u00a0 |
| \u00a0 | \u00a0 | \u00a0 |
| Result before tax | (19,258) | (29,451) |
| Income tax at statutory tax rate (25.8%) | (4,969) | (7,597) |
| Exempt income | - | 145 |
| Non-deductible expenses | 2,680 | 128 |
| Rate differential | (440) | 220 |
| Non-recognition of deferred tax assets | 3,987 | 6,913 |
| Tax losses utilised | (542) | (543) |
| Deferred tax asset through equity | (221) | (202) |
| Tax relating to prior periods | 60 | 204 |
| Tax according to the profit or loss account | 555 | (732) |
| Effective tax rate | (2.9%) | 2.5% |
Deferred tax is recognized using the balance sheet method, providing for carry-forward losses and temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for taxation purposes. Deferred tax is measured at the tax rates that are expected to be applied to temporary differences when they reverse, based on the laws that have been enacted or substantively enacted at the reporting date.
Deferred tax assets and liabilities are offset if there is a legally enforceable right to offset current tax liabilities and assets, and they relate to income taxes levied by the same tax authority on the same taxable entity.
Deferred tax assets (DTA) for carried-forward tax losses are recognized to the extent that it is probable that taxable profits will be available against which the unused tax losses can be utilized. CM.com has tax losses carried-forward of \u20ac\u00a0115.7 million as at 31 December 2024 (2023: \u20ac\u00a0107.2 million), out of which \u20ac\u00a00.9 million (2023: \u20ac\u00a00.3 million) expires in the following five years (for this no DTA is formed) and \u20ac\u00a00.3 million (2023: \u20ac\u00a00.5 million) will expire after five years (for this a DTA of \u20ac\u00a013 thousand is formed). \u20ac\u00a0114.5 million (2023: \u20ac\u00a0106.4 million) can be carried forward indefinitely (of this for a total of \u20ac\u00a04 million a DTA is formed). For unused tax losses of \u20ac\u00a099.4 million (2023: \u20ac\u00a086.4\u00a0million) no deferred tax asset is formed.
Deferred tax assets recognized and movements thereon:
| x \u20ac\u00a01,000 | Total | Convertible bonds | Right-of-use assets | Tax losses | Deferred costs |
|---|---|---|---|---|---|
| Carrying amount as at 31 December 2022 after netting | 1,506 | - | 38 | 975 | 493 |
| Netting of tax | 9,714 | 845 | 4,194 | 4,675 | - |
| Carrying amount as at 31 December 2022 before netting | 11,220 | 845 | 4,232 | 5,650 | 493 |
| Mutations through profit or loss | (1,179) | - | - | (1,179) | - |
| Mutations through equity | (202) | (202) | - | - | - |
| Charge to profit or loss | (217) | - | (358) | - | 141 |
| Exchange differences | (46) | - | - | (14) | (32) |
| Carrying amount as at 31 December 2023 before netting | 9,576 | 643 | 3,874 | 4,457 | 602 |
| Netting of tax | (8,440) | (643) | (3,750) | (4,047) | - |
| Carrying amount as at 31 December 2023 after netting | 1,136 | - | 124 | 410 | 602 |
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| Netting of tax | 8,440 | 643 | 3,750 | 4,047 | - |
| Mutations through profit or loss | (856) | - | - | (856) | - |
| Mutations through equity | (221) | (221) | - | - | - |
| Charge to profit or loss | (128) | - | (162) | - | 34 |
| Exchange differences | 25 | - | - | 7 | 18 |
| Carrying amount as at 31 December 2024 before netting | 8,396 | 422 | 3,712 | 3,608 | 654 |
| Netting of tax | (7,154) | (422) | (3,556) | (3,176) | - |
| Carrying amount as at 31 December 2024 after netting | 1,242 | - | 156 | 432 | 654 |
Deferred tax liabilities recognized and movements thereon:
| x \u20ac\u00a01,000 | Total | Convertible bonds | Right-of-use liabilities | Other temporary differences |
|---|---|---|---|---|
| Carrying amount as at 31 December 2022 after netting | 3,162 | 483 | - | 2,679 |
| Netting of tax | 9,714 | 845 | 4,194 | 4,675 |
| Carrying amount as at 31 December 2022 before netting | 12,876 | 1,328 | 4,194 | 7,354 |
| Mutations through profit or loss | (2,901) | (340) | (444) | (2,117) |
| Effect of change in tax rate | - | - | - | - |
| Carrying amount as at 31 December 2023 before netting | 9,975 | 988 | 3,750 | 5,237 |
| Netting of tax | (8,440) | (643) | (3,750) | (4,047) |
| Carrying amount as at 31 December 2023 after netting | 1,535 | 345 | - | 1,190 |
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| Netting of tax | 8,440 | 643 | 3,750 | 4,047 |
| Mutations through profit or loss | (1,197) | (355) | (194) | (648) |
| Exchange differences | (39) | - | - | (39) |
| Carrying amount as at 31 December 2024 before netting | 8,739 | 633 | 3,556 | 4,550 |
| Netting of tax | (7,154) | (422) | (3,556) | (3,176) |
| Carrying amount as at 31 December 2024 after netting | 1,585 | 211 | - | 1,374 |
CM.com manages its capital to ensure that entities in CM.com will be able to continue as a going concern while maximizing the return to shareholders through the optimization of the debt and equity balance. CM.com\u2019s overall strategy remains unchanged from 2023.
The capital structure of the company consists of net debt (borrowings as disclosed in note 17 and convertible bonds as disclosed in note 18 after deducting available cash and cash equivalents as disclosed in note 16) and shareholders\u2019 equity (comprising issued ordinary share capital, share premium, reserves, and accumulated deficits, disclosed below).
At 1 January 2024, the number of issued and authorized shares was 29,111,365 with a total nominal value of \u20ac\u00a01,747 thousand. All shares are ordinary shares. During 2024, a total of 20,634 shares were issued in relation with earn-outs of acquired companies. At year-end, that brings the total of issued shares up to 29,131,999 with a total nominal value of \u20ac\u00a01,748 thousand. At balance date, there are only ordinary shares.
In 2022, the company purchased 143,925 own shares related to business combinations and 60,000 own shares to satisfy obligations related to the equity-settled share-based compensation plans, of which 17,472 shares were vested during 2024 (2023: 33,336 shares) (see note 23). At year-end, the amount of treasury shares held amounted to \u20ac\u00a078 thousand (2023: \u20ac\u00a0347 thousand) and represents 5,039 shares (2023: 22,511).
The legal reserves, in amount of \u20ac\u00a047,303 thousand (2023: \u20ac\u00a041,317 thousand) are considered non-distributable in accordance with Dutch Law, as presented in the corporate financial statements (see note 7) and relate to capitalized development costs and foreign currency reserve. No dividends are available for distribution.
The weighted average number of ordinary shares used as the denominator in calculating basic and diluted loss per share is 29,121,682 (2023: 29,022,942). The total result after tax used in the calculation of basic and diluted loss per share over 2024 amounts to \u20ac\u00a019,813 thousand. Potential ordinary shares related to the convertible bonds are treated as antidilutive in accordance with IAS 33.41, as the conversion to ordinary shares would decrease the loss per share from continuing operations.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForDividendsExplanatory", "language": "en", "entity": "scheme:724500QDJRUMSPRDHW25", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "section-blocktag-i5927-2": { "value": "CM.com manages its capital to ensure that entities in CM.com will be able to continue as a going concern while maximizing the return to shareholders through the optimization of the debt and equity balance. CM.com\u2019s overall strategy remains unchanged from 2023.
The capital structure of the company consists of net debt (borrowings as disclosed in note 17 and convertible bonds as disclosed in note 18 after deducting available cash and cash equivalents as disclosed in note 16) and shareholders\u2019 equity (comprising issued ordinary share capital, share premium, reserves, and accumulated deficits, disclosed below).
At 1 January 2024, the number of issued and authorized shares was 29,111,365 with a total nominal value of \u20ac\u00a01,747 thousand. All shares are ordinary shares. During 2024, a total of 20,634 shares were issued in relation with earn-outs of acquired companies. At year-end, that brings the total of issued shares up to 29,131,999 with a total nominal value of \u20ac\u00a01,748 thousand. At balance date, there are only ordinary shares.
In 2022, the company purchased 143,925 own shares related to business combinations and 60,000 own shares to satisfy obligations related to the equity-settled share-based compensation plans, of which 17,472 shares were vested during 2024 (2023: 33,336 shares) (see note 23). At year-end, the amount of treasury shares held amounted to \u20ac\u00a078 thousand (2023: \u20ac\u00a0347 thousand) and represents 5,039 shares (2023: 22,511).
The legal reserves, in amount of \u20ac\u00a047,303 thousand (2023: \u20ac\u00a041,317 thousand) are considered non-distributable in accordance with Dutch Law, as presented in the corporate financial statements (see note 7) and relate to capitalized development costs and foreign currency reserve. No dividends are available for distribution.
The weighted average number of ordinary shares used as the denominator in calculating basic and diluted loss per share is 29,121,682 (2023: 29,022,942). The total result after tax used in the calculation of basic and diluted loss per share over 2024 amounts to \u20ac\u00a019,813 thousand. Potential ordinary shares related to the convertible bonds are treated as antidilutive in accordance with IAS 33.41, as the conversion to ordinary shares would decrease the loss per share from continuing operations.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForEarningsPerShareExplanatory", "language": "en", "entity": "scheme:724500QDJRUMSPRDHW25", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "section-blocktag-i5927-3": { "value": "CM.com manages its capital to ensure that entities in CM.com will be able to continue as a going concern while maximizing the return to shareholders through the optimization of the debt and equity balance. CM.com\u2019s overall strategy remains unchanged from 2023.
The capital structure of the company consists of net debt (borrowings as disclosed in note 17 and convertible bonds as disclosed in note 18 after deducting available cash and cash equivalents as disclosed in note 16) and shareholders\u2019 equity (comprising issued ordinary share capital, share premium, reserves, and accumulated deficits, disclosed below).
At 1 January 2024, the number of issued and authorized shares was 29,111,365 with a total nominal value of \u20ac\u00a01,747 thousand. All shares are ordinary shares. During 2024, a total of 20,634 shares were issued in relation with earn-outs of acquired companies. At year-end, that brings the total of issued shares up to 29,131,999 with a total nominal value of \u20ac\u00a01,748 thousand. At balance date, there are only ordinary shares.
In 2022, the company purchased 143,925 own shares related to business combinations and 60,000 own shares to satisfy obligations related to the equity-settled share-based compensation plans, of which 17,472 shares were vested during 2024 (2023: 33,336 shares) (see note 23). At year-end, the amount of treasury shares held amounted to \u20ac\u00a078 thousand (2023: \u20ac\u00a0347 thousand) and represents 5,039 shares (2023: 22,511).
The legal reserves, in amount of \u20ac\u00a047,303 thousand (2023: \u20ac\u00a041,317 thousand) are considered non-distributable in accordance with Dutch Law, as presented in the corporate financial statements (see note 7) and relate to capitalized development costs and foreign currency reserve. No dividends are available for distribution.
The weighted average number of ordinary shares used as the denominator in calculating basic and diluted loss per share is 29,121,682 (2023: 29,022,942). The total result after tax used in the calculation of basic and diluted loss per share over 2024 amounts to \u20ac\u00a019,813 thousand. Potential ordinary shares related to the convertible bonds are treated as antidilutive in accordance with IAS 33.41, as the conversion to ordinary shares would decrease the loss per share from continuing operations.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForTreasurySharesExplanatory", "language": "en", "entity": "scheme:724500QDJRUMSPRDHW25", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "section-blocktag-i5927-4": { "value": "CM.com manages its capital to ensure that entities in CM.com will be able to continue as a going concern while maximizing the return to shareholders through the optimization of the debt and equity balance. CM.com\u2019s overall strategy remains unchanged from 2023.
The capital structure of the company consists of net debt (borrowings as disclosed in note 17 and convertible bonds as disclosed in note 18 after deducting available cash and cash equivalents as disclosed in note 16) and shareholders\u2019 equity (comprising issued ordinary share capital, share premium, reserves, and accumulated deficits, disclosed below).
At 1 January 2024, the number of issued and authorized shares was 29,111,365 with a total nominal value of \u20ac\u00a01,747 thousand. All shares are ordinary shares. During 2024, a total of 20,634 shares were issued in relation with earn-outs of acquired companies. At year-end, that brings the total of issued shares up to 29,131,999 with a total nominal value of \u20ac\u00a01,748 thousand. At balance date, there are only ordinary shares.
In 2022, the company purchased 143,925 own shares related to business combinations and 60,000 own shares to satisfy obligations related to the equity-settled share-based compensation plans, of which 17,472 shares were vested during 2024 (2023: 33,336 shares) (see note 23). At year-end, the amount of treasury shares held amounted to \u20ac\u00a078 thousand (2023: \u20ac\u00a0347 thousand) and represents 5,039 shares (2023: 22,511).
The legal reserves, in amount of \u20ac\u00a047,303 thousand (2023: \u20ac\u00a041,317 thousand) are considered non-distributable in accordance with Dutch Law, as presented in the corporate financial statements (see note 7) and relate to capitalized development costs and foreign currency reserve. No dividends are available for distribution.
The weighted average number of ordinary shares used as the denominator in calculating basic and diluted loss per share is 29,121,682 (2023: 29,022,942). The total result after tax used in the calculation of basic and diluted loss per share over 2024 amounts to \u20ac\u00a019,813 thousand. Potential ordinary shares related to the convertible bonds are treated as antidilutive in accordance with IAS 33.41, as the conversion to ordinary shares would decrease the loss per share from continuing operations.
", "dimensions": { "concept": "ifrs-full:DisclosureOfDividendsExplanatory", "language": "en", "entity": "scheme:724500QDJRUMSPRDHW25", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "section-blocktag-i5927-5": { "value": "CM.com manages its capital to ensure that entities in CM.com will be able to continue as a going concern while maximizing the return to shareholders through the optimization of the debt and equity balance. CM.com\u2019s overall strategy remains unchanged from 2023.
The capital structure of the company consists of net debt (borrowings as disclosed in note 17 and convertible bonds as disclosed in note 18 after deducting available cash and cash equivalents as disclosed in note 16) and shareholders\u2019 equity (comprising issued ordinary share capital, share premium, reserves, and accumulated deficits, disclosed below).
At 1 January 2024, the number of issued and authorized shares was 29,111,365 with a total nominal value of \u20ac\u00a01,747 thousand. All shares are ordinary shares. During 2024, a total of 20,634 shares were issued in relation with earn-outs of acquired companies. At year-end, that brings the total of issued shares up to 29,131,999 with a total nominal value of \u20ac\u00a01,748 thousand. At balance date, there are only ordinary shares.
In 2022, the company purchased 143,925 own shares related to business combinations and 60,000 own shares to satisfy obligations related to the equity-settled share-based compensation plans, of which 17,472 shares were vested during 2024 (2023: 33,336 shares) (see note 23). At year-end, the amount of treasury shares held amounted to \u20ac\u00a078 thousand (2023: \u20ac\u00a0347 thousand) and represents 5,039 shares (2023: 22,511).
The legal reserves, in amount of \u20ac\u00a047,303 thousand (2023: \u20ac\u00a041,317 thousand) are considered non-distributable in accordance with Dutch Law, as presented in the corporate financial statements (see note 7) and relate to capitalized development costs and foreign currency reserve. No dividends are available for distribution.
The weighted average number of ordinary shares used as the denominator in calculating basic and diluted loss per share is 29,121,682 (2023: 29,022,942). The total result after tax used in the calculation of basic and diluted loss per share over 2024 amounts to \u20ac\u00a019,813 thousand. Potential ordinary shares related to the convertible bonds are treated as antidilutive in accordance with IAS 33.41, as the conversion to ordinary shares would decrease the loss per share from continuing operations.
", "dimensions": { "concept": "ifrs-full:DisclosureOfEarningsPerShareExplanatory", "language": "en", "entity": "scheme:724500QDJRUMSPRDHW25", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "section-blocktag-i5927-6": { "value": "CM.com manages its capital to ensure that entities in CM.com will be able to continue as a going concern while maximizing the return to shareholders through the optimization of the debt and equity balance. CM.com\u2019s overall strategy remains unchanged from 2023.
The capital structure of the company consists of net debt (borrowings as disclosed in note 17 and convertible bonds as disclosed in note 18 after deducting available cash and cash equivalents as disclosed in note 16) and shareholders\u2019 equity (comprising issued ordinary share capital, share premium, reserves, and accumulated deficits, disclosed below).
At 1 January 2024, the number of issued and authorized shares was 29,111,365 with a total nominal value of \u20ac\u00a01,747 thousand. All shares are ordinary shares. During 2024, a total of 20,634 shares were issued in relation with earn-outs of acquired companies. At year-end, that brings the total of issued shares up to 29,131,999 with a total nominal value of \u20ac\u00a01,748 thousand. At balance date, there are only ordinary shares.
In 2022, the company purchased 143,925 own shares related to business combinations and 60,000 own shares to satisfy obligations related to the equity-settled share-based compensation plans, of which 17,472 shares were vested during 2024 (2023: 33,336 shares) (see note 23). At year-end, the amount of treasury shares held amounted to \u20ac\u00a078 thousand (2023: \u20ac\u00a0347 thousand) and represents 5,039 shares (2023: 22,511).
The legal reserves, in amount of \u20ac\u00a047,303 thousand (2023: \u20ac\u00a041,317 thousand) are considered non-distributable in accordance with Dutch Law, as presented in the corporate financial statements (see note 7) and relate to capitalized development costs and foreign currency reserve. No dividends are available for distribution.
The weighted average number of ordinary shares used as the denominator in calculating basic and diluted loss per share is 29,121,682 (2023: 29,022,942). The total result after tax used in the calculation of basic and diluted loss per share over 2024 amounts to \u20ac\u00a019,813 thousand. Potential ordinary shares related to the convertible bonds are treated as antidilutive in accordance with IAS 33.41, as the conversion to ordinary shares would decrease the loss per share from continuing operations.
", "dimensions": { "concept": "ifrs-full:DisclosureOfObjectivesPoliciesAndProcessesForManagingCapitalExplanatory", "language": "en", "entity": "scheme:724500QDJRUMSPRDHW25", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "section-blocktag-i5927-7": { "value": "CM.com manages its capital to ensure that entities in CM.com will be able to continue as a going concern while maximizing the return to shareholders through the optimization of the debt and equity balance. CM.com\u2019s overall strategy remains unchanged from 2023.
The capital structure of the company consists of net debt (borrowings as disclosed in note 17 and convertible bonds as disclosed in note 18 after deducting available cash and cash equivalents as disclosed in note 16) and shareholders\u2019 equity (comprising issued ordinary share capital, share premium, reserves, and accumulated deficits, disclosed below).
At 1 January 2024, the number of issued and authorized shares was 29,111,365 with a total nominal value of \u20ac\u00a01,747 thousand. All shares are ordinary shares. During 2024, a total of 20,634 shares were issued in relation with earn-outs of acquired companies. At year-end, that brings the total of issued shares up to 29,131,999 with a total nominal value of \u20ac\u00a01,748 thousand. At balance date, there are only ordinary shares.
In 2022, the company purchased 143,925 own shares related to business combinations and 60,000 own shares to satisfy obligations related to the equity-settled share-based compensation plans, of which 17,472 shares were vested during 2024 (2023: 33,336 shares) (see note 23). At year-end, the amount of treasury shares held amounted to \u20ac\u00a078 thousand (2023: \u20ac\u00a0347 thousand) and represents 5,039 shares (2023: 22,511).
The legal reserves, in amount of \u20ac\u00a047,303 thousand (2023: \u20ac\u00a041,317 thousand) are considered non-distributable in accordance with Dutch Law, as presented in the corporate financial statements (see note 7) and relate to capitalized development costs and foreign currency reserve. No dividends are available for distribution.
The weighted average number of ordinary shares used as the denominator in calculating basic and diluted loss per share is 29,121,682 (2023: 29,022,942). The total result after tax used in the calculation of basic and diluted loss per share over 2024 amounts to \u20ac\u00a019,813 thousand. Potential ordinary shares related to the convertible bonds are treated as antidilutive in accordance with IAS 33.41, as the conversion to ordinary shares would decrease the loss per share from continuing operations.
", "dimensions": { "concept": "ifrs-full:DisclosureOfReservesAndOtherEquityInterestExplanatory", "language": "en", "entity": "scheme:724500QDJRUMSPRDHW25", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "section-blocktag-i5927-8": { "value": "CM.com manages its capital to ensure that entities in CM.com will be able to continue as a going concern while maximizing the return to shareholders through the optimization of the debt and equity balance. CM.com\u2019s overall strategy remains unchanged from 2023.
The capital structure of the company consists of net debt (borrowings as disclosed in note 17 and convertible bonds as disclosed in note 18 after deducting available cash and cash equivalents as disclosed in note 16) and shareholders\u2019 equity (comprising issued ordinary share capital, share premium, reserves, and accumulated deficits, disclosed below).
At 1 January 2024, the number of issued and authorized shares was 29,111,365 with a total nominal value of \u20ac\u00a01,747 thousand. All shares are ordinary shares. During 2024, a total of 20,634 shares were issued in relation with earn-outs of acquired companies. At year-end, that brings the total of issued shares up to 29,131,999 with a total nominal value of \u20ac\u00a01,748 thousand. At balance date, there are only ordinary shares.
In 2022, the company purchased 143,925 own shares related to business combinations and 60,000 own shares to satisfy obligations related to the equity-settled share-based compensation plans, of which 17,472 shares were vested during 2024 (2023: 33,336 shares) (see note 23). At year-end, the amount of treasury shares held amounted to \u20ac\u00a078 thousand (2023: \u20ac\u00a0347 thousand) and represents 5,039 shares (2023: 22,511).
The legal reserves, in amount of \u20ac\u00a047,303 thousand (2023: \u20ac\u00a041,317 thousand) are considered non-distributable in accordance with Dutch Law, as presented in the corporate financial statements (see note 7) and relate to capitalized development costs and foreign currency reserve. No dividends are available for distribution.
The weighted average number of ordinary shares used as the denominator in calculating basic and diluted loss per share is 29,121,682 (2023: 29,022,942). The total result after tax used in the calculation of basic and diluted loss per share over 2024 amounts to \u20ac\u00a019,813 thousand. Potential ordinary shares related to the convertible bonds are treated as antidilutive in accordance with IAS 33.41, as the conversion to ordinary shares would decrease the loss per share from continuing operations.
", "dimensions": { "concept": "ifrs-full:DisclosureOfShareCapitalReservesAndOtherEquityInterestExplanatory", "language": "en", "entity": "scheme:724500QDJRUMSPRDHW25", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "section-blocktag-i5927-9": { "value": "CM.com manages its capital to ensure that entities in CM.com will be able to continue as a going concern while maximizing the return to shareholders through the optimization of the debt and equity balance. CM.com\u2019s overall strategy remains unchanged from 2023.
The capital structure of the company consists of net debt (borrowings as disclosed in note 17 and convertible bonds as disclosed in note 18 after deducting available cash and cash equivalents as disclosed in note 16) and shareholders\u2019 equity (comprising issued ordinary share capital, share premium, reserves, and accumulated deficits, disclosed below).
At 1 January 2024, the number of issued and authorized shares was 29,111,365 with a total nominal value of \u20ac\u00a01,747 thousand. All shares are ordinary shares. During 2024, a total of 20,634 shares were issued in relation with earn-outs of acquired companies. At year-end, that brings the total of issued shares up to 29,131,999 with a total nominal value of \u20ac\u00a01,748 thousand. At balance date, there are only ordinary shares.
In 2022, the company purchased 143,925 own shares related to business combinations and 60,000 own shares to satisfy obligations related to the equity-settled share-based compensation plans, of which 17,472 shares were vested during 2024 (2023: 33,336 shares) (see note 23). At year-end, the amount of treasury shares held amounted to \u20ac\u00a078 thousand (2023: \u20ac\u00a0347 thousand) and represents 5,039 shares (2023: 22,511).
The legal reserves, in amount of \u20ac\u00a047,303 thousand (2023: \u20ac\u00a041,317 thousand) are considered non-distributable in accordance with Dutch Law, as presented in the corporate financial statements (see note 7) and relate to capitalized development costs and foreign currency reserve. No dividends are available for distribution.
The weighted average number of ordinary shares used as the denominator in calculating basic and diluted loss per share is 29,121,682 (2023: 29,022,942). The total result after tax used in the calculation of basic and diluted loss per share over 2024 amounts to \u20ac\u00a019,813 thousand. Potential ordinary shares related to the convertible bonds are treated as antidilutive in accordance with IAS 33.41, as the conversion to ordinary shares would decrease the loss per share from continuing operations.
", "dimensions": { "concept": "ifrs-full:DisclosureOfTreasurySharesExplanatory", "language": "en", "entity": "scheme:724500QDJRUMSPRDHW25", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "p-blocktag-i5928-1": { "value": "At 1 January 2024, the number of issued and authorized shares was 29,111,365 with a total nominal value of \u20ac\u00a01,747 thousand. All shares are ordinary shares. During 2024, a total of 20,634 shares were issued in relation with earn-outs of acquired companies. At year-end, that brings the total of issued shares up to 29,131,999 with a total nominal value of \u20ac\u00a01,748 thousand. At balance date, there are only ordinary shares.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForIssuedCapitalExplanatory", "language": "en", "entity": "scheme:724500QDJRUMSPRDHW25", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "p-blocktag-i5928-2": { "value": "At 1 January 2024, the number of issued and authorized shares was 29,111,365 with a total nominal value of \u20ac\u00a01,747 thousand. All shares are ordinary shares. During 2024, a total of 20,634 shares were issued in relation with earn-outs of acquired companies. At year-end, that brings the total of issued shares up to 29,131,999 with a total nominal value of \u20ac\u00a01,748 thousand. At balance date, there are only ordinary shares.
", "dimensions": { "concept": "ifrs-full:DisclosureOfIssuedCapitalExplanatory", "language": "en", "entity": "scheme:724500QDJRUMSPRDHW25", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "section-blocktag-i5929-1": { "value": "Credit risk represents the financial loss that would have to be recognized on the reporting date if a customer or counter party to a financial instrument fails to meet its contractual obligations and arises principally from CM.com\u2019s receivables from customers.
CM.com\u2019s exposure to credit risk is influenced mainly by the individual characteristics of each customer. The demographics of CM.com\u2019s customer base, including the default risk of the industry and country, in which customers operate, has less of an influence on credit risk. CM.com mitigates the credit risk through setting appropriate credit limits for each of its customers. We continuously monitor the creditworthiness of debtors and act appropriately on expired invoices.
The carrying amount of financial assets represents the maximum credit exposure. For CM.com\u2019s statement of the carrying amounts see note 15. No significant concentration of credit risk existed as at the reporting date.
The expected credit losses on trade receivables and accrued revenue are estimated using a provision matrix by reference to past payment behavior for a 12-month period of the debtor and analysis of the debtor\u2019s current financial position, adjusted for factors that are specific to the debtors, general economic conditions of the industry in which the debtors operate, and an assessment of both the current as well as the forecast direction of conditions at the reporting date.
The company has two other financial assets subject to credit risk. Other receivables, see note 14, which are contract assets relating to advanced payments to specific Live clients. The outstanding amounts are repaid through income generated by ticket sales. As of December 31, 2024, the repayment of a loan receivable with a carrying amount of \u20ac\u00a03.9 million (2023: nil) is overdue. Based on contractual agreements and underlying guarantees, it is management\u2019s best estimate that the loan receivable is collectible therefor a 0% risk rate is applied in the estimation of expected credit losses. As per 31 December 2024 the company has a contingent asset (see note 26) relating to a sub- lease agreement for one of its buildings which is prepaid, a 0% risk rate is applied.
For the other financial assets, such as other receivables and deposits, the assumption is applied that, due to low credit risk and the amounts involved, the expected credit losses are deemed as not significant.
The changes in the provision for expected credit losses are as follows:
| x \u20ac\u00a01,000 | 2024 | 2023 |
|---|---|---|
| \u00a0 | \u00a0 | \u00a0 |
| \u00a0 | \u00a0 | \u00a0 |
| Balance as per 1 January | 2,087 | 5,548 |
| Additions to provision | 1,534 | 1,604 |
| Utilization of provision | (710) | (4,850) |
| Release of provision | (230) | (215) |
| Balance as per 31 December | 2,681 | 2,087 |
The aging of accounts receivables and accrued revenue is set out below:
| x \u20ac\u00a01,000 | 2024 | 2024 | 2023 | 2023 |
|---|---|---|---|---|
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| \u00a0 | Gross | Net | Gross | Net |
| Current | 38,584 | 38,206 | 32,0981 | 31,8001 |
| 1 - 30 days | 8,723 | 8,547 | 6,252 | 6,032 |
| 31 - 60 days | 829 | 753 | 2,238 | 2,149 |
| > 60 days | 4,236 | 2,185 | 4,397 | 2,917 |
| \u00a0 | 52,372 | 49,691 | 44,985 | 42,898 |
The buckets and expected credit losses (\"ECL\") are estimated as follows:
| Bucket | ECL % | |
|---|---|---|
| \u00a0 | 2024 | 2023 |
| Current | 1.0% | 1.0% |
| 1 - 30 days | 1.7% | 1.7% |
| 31 - 60 days | 5.8% | 6.2% |
| > 60 days | 14.1% | 10.0% |
CM.com applies the IFRS 9 simplified approach for measuring expected credit losses, which uses a lifetime expected loss allowance for all trade receivables excluding VAT and accrued revenue. To measure the expected credit losses, trade receivables, and accrued revenue have been grouped based on shared credit risk characteristics which are determined based on the days past due. Accrued revenue relates to unbilled services and has substantially the same risk characteristics as the current trade receivables for the same types of contracts.
The expected loss rates are based on the payment profiles of sales over prior periods and the corresponding historical credit losses experienced related to those periods.
Trade receivables are written off when there is no reasonable expectation of recovery. Indicators that there is no reasonable expectation of recovery include, among others, the failure of a debtor to engage in a repayment plan with CM.com, and a failure to make contractual payments.
Impairments on trade receivables and accrued revenue are recognized excluding VAT through profit or loss under other operational expenses. Subsequent recoveries of amounts previously written off are credited against the same line item.
Market risk is the risk that changes in market prices, such as foreign exchange rates, interest rates and equity prices will affect CM.com\u2019s income or the value of its holdings of financial instruments. The objective of market risk management is to manage and control market risk exposures within acceptable parameters, while optimising the return on risk. The market risk comprises three types of risk: interest rate risk, foreign currency risk, and other risk. CM.com only recognizes the foreign currency risk as an applicable currency risk, due to the fact that there are no outstanding loans with variable interest and little other risk from external factors.
Foreign currency risk is the risk that the fair value or future cash flows of an exposure will fluctuate because of changes in foreign exchange rates. CM.com is exposed to currency risk on sales, purchases, and (current portion of) borrowings that are denominated in a currency other than the functional currency. The currencies giving rise to this risk are primarily USD, CNY, GBP, JPY (prior year HKD), ZAR (prior year SGD), and INR. As CM.com operates globally, purchases are made in multiple currencies. Alignment of sale and purchase contracts in local currencies mitigates the risk of foreign currency translations. The amounts below exclude the foundation's activities as the cash, receivables, and payables from the foundations both receive and pay out in the same currency, as such the foreign currency risk on these amounts is remote.\u00a0
CM.com's exposure to foreign currency risk was as follows based on notional amounts:
| x \u20ac\u00a01,000 | \u00a0 | USD | ZAR | JPY | INR | GBP | CNY |
|---|---|---|---|---|---|---|---|
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| Cash and cash equivalents | \u00a0 | 1,354 | 259 | 180 | 136 | 37 | 339 |
| Short-term loan receivables | \u00a0 | - | - | - | - | 4,385 | - |
| Trade receivables | \u00a0 | 16,011 | 132 | 16 | 97 | 176 | 103 |
| Trade payables | \u00a0 | (5,842) | (89) | (720) | (37) | (1,130) | (40) |
| \u00a0 | \u00a0 | 11,523 | 302 | (524) | 196 | 3,468 | 402 |
| x \u20ac\u00a01,000 | \u00a0 | USD | SGD | HKD | INR | GBP | CNY |
|---|---|---|---|---|---|---|---|
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| Cash and cash equivalents | \u00a0 | 2,041 | 202 | 74 | 160 | 410 | 1,028 |
| Trade receivables | \u00a0 | 11,526 | - | 60 | 185 | 617 | 252 |
| Trade payables | \u00a0 | (7,350) | (133) | (30) | (30) | (752) | (169) |
| \u00a0 | \u00a0 | 6,217 | 69 | 104 | 315 | 276 | 1,110 |
The summary below shows the effect on the result that a reasonable possible change in exchange rate (+5%, calculated from exchange rate), with all other variables held constant, could have for the primary foreign excange rates:
| x \u20ac\u00a01,000 | 2024 | 2023 |
|---|---|---|
| USD | 533 | 440 |
| CNY | 19 | 56 |
| GBP | 158 | 13 |
| JPY | (25) | - |
| ZAR | 14 | - |
| INR | 10 | 15 |
| SGD | - | 13 |
| HKD | - | (32) |
Liquidity risk is the risk that CM.com will not be able to meet its financial obligations as they fall due. CM.com\u2019s approach to manage liquidity is to ensure, as far as possible, that it will always have sufficient liquidity to meet its liabilities when due, under both normal and stressed conditions, without incurring unacceptable losses or risking damage to CM.com\u2019s reputation. Periodically, liquidity budgets are prepared. Liquidity risks are controlled through interim monitoring and possible adjustments. The liquidity budgets take cash constraints into account.
CM.com assessed the concentration of risk with respect to refinancing its debt and concluded it to be low. CM.com ensures that it has sufficient cash on demand to meet expected operational expenses for a period of 180 days, including the servicing of financial obligations; this excludes the potential impact of extreme circumstances that cannot reasonably be predicted, such as natural disasters.
On 14 February 2024, CM.com established a revolving credit facility with HSBC, totaling \u20ac\u00a015 million with an accordion option of another \u20ac\u00a010 million, including guarantees for the bank in case of default (2023: no facilities). The facility has not been used since its inception. Reference is made to note 33 subsequent events, as the existing facility is replaced on 12 February 2025 by a new facility with 3 banks, totaling \u20ac\u00a080 million. Together with an equity raise the company was able to redeem outstanding convertible bonds and retain financial flexibility for the company's operations. The facility is available through 12 February 2028, with two extension options of one year each, with an interest rate of EURIBOR + Margin (4-75%-5.50%), including covenants, and guarantees for the bank in case of default.
The table below summarizes the expected future cash flows from CM.com\u2019s financial liabilities based on contractual undiscounted payments:
| x \u20ac\u00a01,000 | Note | 0-3 months | 4-12 months | 1-5 years | Over 5 years | Total | Carrying amount |
|---|---|---|---|---|---|---|---|
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| Lease liabilities | 17 | 1,190 | 2,680 | 9,562 | 5,148 | 18,580 | 15,494 |
| Convertible bonds | 18 | 1,000 | 1,000 | 102,000 | - | 104,000 | 97,630 |
| Trade payables | 20 | 42,284 | - | - | - | 42,284 | 42,284 |
| Other financial liabilities | 20 | 57,815 | - | - | - | 57,815 | 57,815 |
| Tax debt | 17 | 75 | 224 | 523 | - | 822 | 785 |
| \u00a0 | \u00a0 | 102,364 | 3,904 | 112,085 | 5,148 | 223,501 | 214,008 |
| x \u20ac\u00a01,000 | Note | 0-3 months | 4-12 months | 1-5 years | Over 5 years | Total | Carrying amount |
|---|---|---|---|---|---|---|---|
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| Lease liabilities | 17 | 1,451 | 3,006 | 9,144 | 6,776 | 20,377 | 17,521 |
| Convertible bonds | 18 | 1,000 | 1,000 | 104,000 | - | 106,000 | 95,922 |
| Trade payables | 20 | 34,153 | - | - | - | 34,153 | 34,153 |
| Other financial liabilities1 | 20 | 56,814 | - | - | - | 56,814 | 56,814 |
| Tax debt2 | 17 | 75 | 224 | 822 | - | 1,121 | 1,053 |
| \u00a0 | \u00a0 | 93,493 | 4,230 | 113,966 | 6,776 | 218,465 | 205,463 |
Credit risk represents the financial loss that would have to be recognized on the reporting date if a customer or counter party to a financial instrument fails to meet its contractual obligations and arises principally from CM.com\u2019s receivables from customers.
CM.com\u2019s exposure to credit risk is influenced mainly by the individual characteristics of each customer. The demographics of CM.com\u2019s customer base, including the default risk of the industry and country, in which customers operate, has less of an influence on credit risk. CM.com mitigates the credit risk through setting appropriate credit limits for each of its customers. We continuously monitor the creditworthiness of debtors and act appropriately on expired invoices.
The carrying amount of financial assets represents the maximum credit exposure. For CM.com\u2019s statement of the carrying amounts see note 15. No significant concentration of credit risk existed as at the reporting date.
The expected credit losses on trade receivables and accrued revenue are estimated using a provision matrix by reference to past payment behavior for a 12-month period of the debtor and analysis of the debtor\u2019s current financial position, adjusted for factors that are specific to the debtors, general economic conditions of the industry in which the debtors operate, and an assessment of both the current as well as the forecast direction of conditions at the reporting date.
The company has two other financial assets subject to credit risk. Other receivables, see note 14, which are contract assets relating to advanced payments to specific Live clients. The outstanding amounts are repaid through income generated by ticket sales. As of December 31, 2024, the repayment of a loan receivable with a carrying amount of \u20ac\u00a03.9 million (2023: nil) is overdue. Based on contractual agreements and underlying guarantees, it is management\u2019s best estimate that the loan receivable is collectible therefor a 0% risk rate is applied in the estimation of expected credit losses. As per 31 December 2024 the company has a contingent asset (see note 26) relating to a sub- lease agreement for one of its buildings which is prepaid, a 0% risk rate is applied.
For the other financial assets, such as other receivables and deposits, the assumption is applied that, due to low credit risk and the amounts involved, the expected credit losses are deemed as not significant.
The changes in the provision for expected credit losses are as follows:
| x \u20ac\u00a01,000 | 2024 | 2023 |
|---|---|---|
| \u00a0 | \u00a0 | \u00a0 |
| \u00a0 | \u00a0 | \u00a0 |
| Balance as per 1 January | 2,087 | 5,548 |
| Additions to provision | 1,534 | 1,604 |
| Utilization of provision | (710) | (4,850) |
| Release of provision | (230) | (215) |
| Balance as per 31 December | 2,681 | 2,087 |
The aging of accounts receivables and accrued revenue is set out below:
| x \u20ac\u00a01,000 | 2024 | 2024 | 2023 | 2023 |
|---|---|---|---|---|
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| \u00a0 | Gross | Net | Gross | Net |
| Current | 38,584 | 38,206 | 32,0981 | 31,8001 |
| 1 - 30 days | 8,723 | 8,547 | 6,252 | 6,032 |
| 31 - 60 days | 829 | 753 | 2,238 | 2,149 |
| > 60 days | 4,236 | 2,185 | 4,397 | 2,917 |
| \u00a0 | 52,372 | 49,691 | 44,985 | 42,898 |
The buckets and expected credit losses (\"ECL\") are estimated as follows:
| Bucket | ECL % | |
|---|---|---|
| \u00a0 | 2024 | 2023 |
| Current | 1.0% | 1.0% |
| 1 - 30 days | 1.7% | 1.7% |
| 31 - 60 days | 5.8% | 6.2% |
| > 60 days | 14.1% | 10.0% |
CM.com applies the IFRS 9 simplified approach for measuring expected credit losses, which uses a lifetime expected loss allowance for all trade receivables excluding VAT and accrued revenue. To measure the expected credit losses, trade receivables, and accrued revenue have been grouped based on shared credit risk characteristics which are determined based on the days past due. Accrued revenue relates to unbilled services and has substantially the same risk characteristics as the current trade receivables for the same types of contracts.
The expected loss rates are based on the payment profiles of sales over prior periods and the corresponding historical credit losses experienced related to those periods.
Trade receivables are written off when there is no reasonable expectation of recovery. Indicators that there is no reasonable expectation of recovery include, among others, the failure of a debtor to engage in a repayment plan with CM.com, and a failure to make contractual payments.
Impairments on trade receivables and accrued revenue are recognized excluding VAT through profit or loss under other operational expenses. Subsequent recoveries of amounts previously written off are credited against the same line item.
Market risk is the risk that changes in market prices, such as foreign exchange rates, interest rates and equity prices will affect CM.com\u2019s income or the value of its holdings of financial instruments. The objective of market risk management is to manage and control market risk exposures within acceptable parameters, while optimising the return on risk. The market risk comprises three types of risk: interest rate risk, foreign currency risk, and other risk. CM.com only recognizes the foreign currency risk as an applicable currency risk, due to the fact that there are no outstanding loans with variable interest and little other risk from external factors.
Foreign currency risk is the risk that the fair value or future cash flows of an exposure will fluctuate because of changes in foreign exchange rates. CM.com is exposed to currency risk on sales, purchases, and (current portion of) borrowings that are denominated in a currency other than the functional currency. The currencies giving rise to this risk are primarily USD, CNY, GBP, JPY (prior year HKD), ZAR (prior year SGD), and INR. As CM.com operates globally, purchases are made in multiple currencies. Alignment of sale and purchase contracts in local currencies mitigates the risk of foreign currency translations. The amounts below exclude the foundation's activities as the cash, receivables, and payables from the foundations both receive and pay out in the same currency, as such the foreign currency risk on these amounts is remote.\u00a0
CM.com's exposure to foreign currency risk was as follows based on notional amounts:
| x \u20ac\u00a01,000 | \u00a0 | USD | ZAR | JPY | INR | GBP | CNY |
|---|---|---|---|---|---|---|---|
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| Cash and cash equivalents | \u00a0 | 1,354 | 259 | 180 | 136 | 37 | 339 |
| Short-term loan receivables | \u00a0 | - | - | - | - | 4,385 | - |
| Trade receivables | \u00a0 | 16,011 | 132 | 16 | 97 | 176 | 103 |
| Trade payables | \u00a0 | (5,842) | (89) | (720) | (37) | (1,130) | (40) |
| \u00a0 | \u00a0 | 11,523 | 302 | (524) | 196 | 3,468 | 402 |
| x \u20ac\u00a01,000 | \u00a0 | USD | SGD | HKD | INR | GBP | CNY |
|---|---|---|---|---|---|---|---|
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| Cash and cash equivalents | \u00a0 | 2,041 | 202 | 74 | 160 | 410 | 1,028 |
| Trade receivables | \u00a0 | 11,526 | - | 60 | 185 | 617 | 252 |
| Trade payables | \u00a0 | (7,350) | (133) | (30) | (30) | (752) | (169) |
| \u00a0 | \u00a0 | 6,217 | 69 | 104 | 315 | 276 | 1,110 |
The summary below shows the effect on the result that a reasonable possible change in exchange rate (+5%, calculated from exchange rate), with all other variables held constant, could have for the primary foreign excange rates:
| x \u20ac\u00a01,000 | 2024 | 2023 |
|---|---|---|
| USD | 533 | 440 |
| CNY | 19 | 56 |
| GBP | 158 | 13 |
| JPY | (25) | - |
| ZAR | 14 | - |
| INR | 10 | 15 |
| SGD | - | 13 |
| HKD | - | (32) |
Liquidity risk is the risk that CM.com will not be able to meet its financial obligations as they fall due. CM.com\u2019s approach to manage liquidity is to ensure, as far as possible, that it will always have sufficient liquidity to meet its liabilities when due, under both normal and stressed conditions, without incurring unacceptable losses or risking damage to CM.com\u2019s reputation. Periodically, liquidity budgets are prepared. Liquidity risks are controlled through interim monitoring and possible adjustments. The liquidity budgets take cash constraints into account.
CM.com assessed the concentration of risk with respect to refinancing its debt and concluded it to be low. CM.com ensures that it has sufficient cash on demand to meet expected operational expenses for a period of 180 days, including the servicing of financial obligations; this excludes the potential impact of extreme circumstances that cannot reasonably be predicted, such as natural disasters.
On 14 February 2024, CM.com established a revolving credit facility with HSBC, totaling \u20ac\u00a015 million with an accordion option of another \u20ac\u00a010 million, including guarantees for the bank in case of default (2023: no facilities). The facility has not been used since its inception. Reference is made to note 33 subsequent events, as the existing facility is replaced on 12 February 2025 by a new facility with 3 banks, totaling \u20ac\u00a080 million. Together with an equity raise the company was able to redeem outstanding convertible bonds and retain financial flexibility for the company's operations. The facility is available through 12 February 2028, with two extension options of one year each, with an interest rate of EURIBOR + Margin (4-75%-5.50%), including covenants, and guarantees for the bank in case of default.
The table below summarizes the expected future cash flows from CM.com\u2019s financial liabilities based on contractual undiscounted payments:
| x \u20ac\u00a01,000 | Note | 0-3 months | 4-12 months | 1-5 years | Over 5 years | Total | Carrying amount |
|---|---|---|---|---|---|---|---|
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| Lease liabilities | 17 | 1,190 | 2,680 | 9,562 | 5,148 | 18,580 | 15,494 |
| Convertible bonds | 18 | 1,000 | 1,000 | 102,000 | - | 104,000 | 97,630 |
| Trade payables | 20 | 42,284 | - | - | - | 42,284 | 42,284 |
| Other financial liabilities | 20 | 57,815 | - | - | - | 57,815 | 57,815 |
| Tax debt | 17 | 75 | 224 | 523 | - | 822 | 785 |
| \u00a0 | \u00a0 | 102,364 | 3,904 | 112,085 | 5,148 | 223,501 | 214,008 |
| x \u20ac\u00a01,000 | Note | 0-3 months | 4-12 months | 1-5 years | Over 5 years | Total | Carrying amount |
|---|---|---|---|---|---|---|---|
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| Lease liabilities | 17 | 1,451 | 3,006 | 9,144 | 6,776 | 20,377 | 17,521 |
| Convertible bonds | 18 | 1,000 | 1,000 | 104,000 | - | 106,000 | 95,922 |
| Trade payables | 20 | 34,153 | - | - | - | 34,153 | 34,153 |
| Other financial liabilities1 | 20 | 56,814 | - | - | - | 56,814 | 56,814 |
| Tax debt2 | 17 | 75 | 224 | 822 | - | 1,121 | 1,053 |
| \u00a0 | \u00a0 | 93,493 | 4,230 | 113,966 | 6,776 | 218,465 | 205,463 |
Credit risk represents the financial loss that would have to be recognized on the reporting date if a customer or counter party to a financial instrument fails to meet its contractual obligations and arises principally from CM.com\u2019s receivables from customers.
CM.com\u2019s exposure to credit risk is influenced mainly by the individual characteristics of each customer. The demographics of CM.com\u2019s customer base, including the default risk of the industry and country, in which customers operate, has less of an influence on credit risk. CM.com mitigates the credit risk through setting appropriate credit limits for each of its customers. We continuously monitor the creditworthiness of debtors and act appropriately on expired invoices.
The carrying amount of financial assets represents the maximum credit exposure. For CM.com\u2019s statement of the carrying amounts see note 15. No significant concentration of credit risk existed as at the reporting date.
The expected credit losses on trade receivables and accrued revenue are estimated using a provision matrix by reference to past payment behavior for a 12-month period of the debtor and analysis of the debtor\u2019s current financial position, adjusted for factors that are specific to the debtors, general economic conditions of the industry in which the debtors operate, and an assessment of both the current as well as the forecast direction of conditions at the reporting date.
The company has two other financial assets subject to credit risk. Other receivables, see note 14, which are contract assets relating to advanced payments to specific Live clients. The outstanding amounts are repaid through income generated by ticket sales. As of December 31, 2024, the repayment of a loan receivable with a carrying amount of \u20ac\u00a03.9 million (2023: nil) is overdue. Based on contractual agreements and underlying guarantees, it is management\u2019s best estimate that the loan receivable is collectible therefor a 0% risk rate is applied in the estimation of expected credit losses. As per 31 December 2024 the company has a contingent asset (see note 26) relating to a sub- lease agreement for one of its buildings which is prepaid, a 0% risk rate is applied.
For the other financial assets, such as other receivables and deposits, the assumption is applied that, due to low credit risk and the amounts involved, the expected credit losses are deemed as not significant.
The changes in the provision for expected credit losses are as follows:
| x \u20ac\u00a01,000 | 2024 | 2023 |
|---|---|---|
| \u00a0 | \u00a0 | \u00a0 |
| \u00a0 | \u00a0 | \u00a0 |
| Balance as per 1 January | 2,087 | 5,548 |
| Additions to provision | 1,534 | 1,604 |
| Utilization of provision | (710) | (4,850) |
| Release of provision | (230) | (215) |
| Balance as per 31 December | 2,681 | 2,087 |
The aging of accounts receivables and accrued revenue is set out below:
| x \u20ac\u00a01,000 | 2024 | 2024 | 2023 | 2023 |
|---|---|---|---|---|
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| \u00a0 | Gross | Net | Gross | Net |
| Current | 38,584 | 38,206 | 32,0981 | 31,8001 |
| 1 - 30 days | 8,723 | 8,547 | 6,252 | 6,032 |
| 31 - 60 days | 829 | 753 | 2,238 | 2,149 |
| > 60 days | 4,236 | 2,185 | 4,397 | 2,917 |
| \u00a0 | 52,372 | 49,691 | 44,985 | 42,898 |
The buckets and expected credit losses (\"ECL\") are estimated as follows:
| Bucket | ECL % | |
|---|---|---|
| \u00a0 | 2024 | 2023 |
| Current | 1.0% | 1.0% |
| 1 - 30 days | 1.7% | 1.7% |
| 31 - 60 days | 5.8% | 6.2% |
| > 60 days | 14.1% | 10.0% |
CM.com applies the IFRS 9 simplified approach for measuring expected credit losses, which uses a lifetime expected loss allowance for all trade receivables excluding VAT and accrued revenue. To measure the expected credit losses, trade receivables, and accrued revenue have been grouped based on shared credit risk characteristics which are determined based on the days past due. Accrued revenue relates to unbilled services and has substantially the same risk characteristics as the current trade receivables for the same types of contracts.
The expected loss rates are based on the payment profiles of sales over prior periods and the corresponding historical credit losses experienced related to those periods.
Trade receivables are written off when there is no reasonable expectation of recovery. Indicators that there is no reasonable expectation of recovery include, among others, the failure of a debtor to engage in a repayment plan with CM.com, and a failure to make contractual payments.
Impairments on trade receivables and accrued revenue are recognized excluding VAT through profit or loss under other operational expenses. Subsequent recoveries of amounts previously written off are credited against the same line item.
Market risk is the risk that changes in market prices, such as foreign exchange rates, interest rates and equity prices will affect CM.com\u2019s income or the value of its holdings of financial instruments. The objective of market risk management is to manage and control market risk exposures within acceptable parameters, while optimising the return on risk. The market risk comprises three types of risk: interest rate risk, foreign currency risk, and other risk. CM.com only recognizes the foreign currency risk as an applicable currency risk, due to the fact that there are no outstanding loans with variable interest and little other risk from external factors.
Foreign currency risk is the risk that the fair value or future cash flows of an exposure will fluctuate because of changes in foreign exchange rates. CM.com is exposed to currency risk on sales, purchases, and (current portion of) borrowings that are denominated in a currency other than the functional currency. The currencies giving rise to this risk are primarily USD, CNY, GBP, JPY (prior year HKD), ZAR (prior year SGD), and INR. As CM.com operates globally, purchases are made in multiple currencies. Alignment of sale and purchase contracts in local currencies mitigates the risk of foreign currency translations. The amounts below exclude the foundation's activities as the cash, receivables, and payables from the foundations both receive and pay out in the same currency, as such the foreign currency risk on these amounts is remote.\u00a0
CM.com's exposure to foreign currency risk was as follows based on notional amounts:
| x \u20ac\u00a01,000 | \u00a0 | USD | ZAR | JPY | INR | GBP | CNY |
|---|---|---|---|---|---|---|---|
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| Cash and cash equivalents | \u00a0 | 1,354 | 259 | 180 | 136 | 37 | 339 |
| Short-term loan receivables | \u00a0 | - | - | - | - | 4,385 | - |
| Trade receivables | \u00a0 | 16,011 | 132 | 16 | 97 | 176 | 103 |
| Trade payables | \u00a0 | (5,842) | (89) | (720) | (37) | (1,130) | (40) |
| \u00a0 | \u00a0 | 11,523 | 302 | (524) | 196 | 3,468 | 402 |
| x \u20ac\u00a01,000 | \u00a0 | USD | SGD | HKD | INR | GBP | CNY |
|---|---|---|---|---|---|---|---|
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| Cash and cash equivalents | \u00a0 | 2,041 | 202 | 74 | 160 | 410 | 1,028 |
| Trade receivables | \u00a0 | 11,526 | - | 60 | 185 | 617 | 252 |
| Trade payables | \u00a0 | (7,350) | (133) | (30) | (30) | (752) | (169) |
| \u00a0 | \u00a0 | 6,217 | 69 | 104 | 315 | 276 | 1,110 |
The summary below shows the effect on the result that a reasonable possible change in exchange rate (+5%, calculated from exchange rate), with all other variables held constant, could have for the primary foreign excange rates:
| x \u20ac\u00a01,000 | 2024 | 2023 |
|---|---|---|
| USD | 533 | 440 |
| CNY | 19 | 56 |
| GBP | 158 | 13 |
| JPY | (25) | - |
| ZAR | 14 | - |
| INR | 10 | 15 |
| SGD | - | 13 |
| HKD | - | (32) |
Liquidity risk is the risk that CM.com will not be able to meet its financial obligations as they fall due. CM.com\u2019s approach to manage liquidity is to ensure, as far as possible, that it will always have sufficient liquidity to meet its liabilities when due, under both normal and stressed conditions, without incurring unacceptable losses or risking damage to CM.com\u2019s reputation. Periodically, liquidity budgets are prepared. Liquidity risks are controlled through interim monitoring and possible adjustments. The liquidity budgets take cash constraints into account.
CM.com assessed the concentration of risk with respect to refinancing its debt and concluded it to be low. CM.com ensures that it has sufficient cash on demand to meet expected operational expenses for a period of 180 days, including the servicing of financial obligations; this excludes the potential impact of extreme circumstances that cannot reasonably be predicted, such as natural disasters.
On 14 February 2024, CM.com established a revolving credit facility with HSBC, totaling \u20ac\u00a015 million with an accordion option of another \u20ac\u00a010 million, including guarantees for the bank in case of default (2023: no facilities). The facility has not been used since its inception. Reference is made to note 33 subsequent events, as the existing facility is replaced on 12 February 2025 by a new facility with 3 banks, totaling \u20ac\u00a080 million. Together with an equity raise the company was able to redeem outstanding convertible bonds and retain financial flexibility for the company's operations. The facility is available through 12 February 2028, with two extension options of one year each, with an interest rate of EURIBOR + Margin (4-75%-5.50%), including covenants, and guarantees for the bank in case of default.
The table below summarizes the expected future cash flows from CM.com\u2019s financial liabilities based on contractual undiscounted payments:
| x \u20ac\u00a01,000 | Note | 0-3 months | 4-12 months | 1-5 years | Over 5 years | Total | Carrying amount |
|---|---|---|---|---|---|---|---|
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| Lease liabilities | 17 | 1,190 | 2,680 | 9,562 | 5,148 | 18,580 | 15,494 |
| Convertible bonds | 18 | 1,000 | 1,000 | 102,000 | - | 104,000 | 97,630 |
| Trade payables | 20 | 42,284 | - | - | - | 42,284 | 42,284 |
| Other financial liabilities | 20 | 57,815 | - | - | - | 57,815 | 57,815 |
| Tax debt | 17 | 75 | 224 | 523 | - | 822 | 785 |
| \u00a0 | \u00a0 | 102,364 | 3,904 | 112,085 | 5,148 | 223,501 | 214,008 |
| x \u20ac\u00a01,000 | Note | 0-3 months | 4-12 months | 1-5 years | Over 5 years | Total | Carrying amount |
|---|---|---|---|---|---|---|---|
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| Lease liabilities | 17 | 1,451 | 3,006 | 9,144 | 6,776 | 20,377 | 17,521 |
| Convertible bonds | 18 | 1,000 | 1,000 | 104,000 | - | 106,000 | 95,922 |
| Trade payables | 20 | 34,153 | - | - | - | 34,153 | 34,153 |
| Other financial liabilities1 | 20 | 56,814 | - | - | - | 56,814 | 56,814 |
| Tax debt2 | 17 | 75 | 224 | 822 | - | 1,121 | 1,053 |
| \u00a0 | \u00a0 | 93,493 | 4,230 | 113,966 | 6,776 | 218,465 | 205,463 |
Financial assets and liabilities are initially recognized when CM.com becomes a party to the contractual provisions of the instrument.
The financial assets to which CM.com is a party include loans receivable, trade and other receivables, deposits, equity investments, cash and cash equivalents.
Financial assets are, at initial recognition measured at fair value plus, in the case of a financial asset not at fair value through profit or loss, transaction costs that are directly attributable to its acquisition. Except for trade receivables without a significant financing component, these are initially measured at the transaction price.
After initial recognition, financial assets are subsequently measured at amortized cost or fair value through profit or loss on the basis of both the entity\u2019s business model for managing financial assets and the contractual cash flow characteristics of the financial asset.
A financial asset is measured at amortized cost using the effective interest method if it meets both of the following conditions:
it is held within a business model whose objective is to hold assets to collect contractual cash flows; and
its contractual terms give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding.
Financial assets held for trading, such as equity investments, are valued at fair value through profit or loss.
Financial assets that are subsequently measured at amortized cost are reduced by impairments. See note 12 for the recognition of the provision for expected credit losses for all financial assets not measured at fair value through profit or loss. Calculation of interest income is done by using the effective interest method. Interest income, currency results, and impairments are recognized in profit or loss.
The carrying amounts of CM.com\u2019s financial assets are a reasonable approximation of their fair values.
CM.com derecognizes a financial asset when the contractual rights to the cash flows from the financial asset expire, or it transfers the rights to receive the contractual cash flows in a transaction in which substantially all of the risks and rewards of ownership of the financial asset are transferred, or in which CM.com neither transfers nor retains substantially all of the risks and rewards of ownership and it does not retain control of the financial asset. Any gain or loss from derecognition is recognized in profit or loss.
Financial liabilities to which CM.com is a party include, trade and other payables, long-term borrowings, lease liabilities, and convertible bonds.
Financial liabilities are initially recognized at fair value less, in the case of a financial liability not at fair value through profit or loss, transaction costs directly attributable to its issue.
All financial liabilities are classified as subsequently measured at amortized cost, except for contingent considerations in business acquisitions, which are subsequently measured at fair value with changes recognized through profit or loss. Any difference between the proceeds (net of transaction costs) and the redemption amount are recognized in profit or loss over the period of the borrowings using the effective interest method.
Lease liabilities are initially measured at the present value of the lease payments that are not paid at the commencement date, discounted using the interest rate implicit in the lease or, if that rate cannot be readily determined, CM.com\u2019s incremental borrowing rate. See note 12 for maturity analysis. Generally, CM.com uses its incremental borrowing rate as the discount rate. The lease liability is subsequently increased by the interest cost on the lease liability and decreased by lease payment made. It is remeasured when there is a change in future lease payments arising from a change in an index or rate, a change in the estimate of the amount expected to be payable under a residual value guarantee, or as appropriate, changes in the assessment of whether a purchase or extension option is reasonably certain to be exercised or a termination option is reasonably certain not to be exercised. The carrying amounts of CM.com\u2019s financial liabilities are a reasonable approximation of their fair values, except for the convertible bonds as disclosed in note 18.
CM.com derecognizes a financial liability when its contractual obligations are discharged or cancelled, or expire. CM.com also derecognizes a financial liability when its terms are modified and the cash flows of the modified liability are substantially different, in which case a new financial liability based on the modified terms is recognized at fair value. On the derecognition of a financial liability, the difference between the carrying amount extinguished and the consideration paid (including any non-cash assets transferred or liabilities assumed) is recognized in profit or loss.
Financial assets and financial liabilities are offset and the net amount is reported in the consolidated statement of financial position if there is a currently enforceable legal right to offset the recognized amounts and there is an intention to settle simultaneously.
Although CM.com may hedge its exposure to financial instruments, CM.com does not apply hedge accounting and recognizes gains and losses on undesignated hedging instruments in profit or loss.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfFinancialAssetsExplanatory", "language": "en", "entity": "scheme:724500QDJRUMSPRDHW25", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "section-blocktag-i5929-4": { "value": "Credit risk represents the financial loss that would have to be recognized on the reporting date if a customer or counter party to a financial instrument fails to meet its contractual obligations and arises principally from CM.com\u2019s receivables from customers.
CM.com\u2019s exposure to credit risk is influenced mainly by the individual characteristics of each customer. The demographics of CM.com\u2019s customer base, including the default risk of the industry and country, in which customers operate, has less of an influence on credit risk. CM.com mitigates the credit risk through setting appropriate credit limits for each of its customers. We continuously monitor the creditworthiness of debtors and act appropriately on expired invoices.
The carrying amount of financial assets represents the maximum credit exposure. For CM.com\u2019s statement of the carrying amounts see note 15. No significant concentration of credit risk existed as at the reporting date.
The expected credit losses on trade receivables and accrued revenue are estimated using a provision matrix by reference to past payment behavior for a 12-month period of the debtor and analysis of the debtor\u2019s current financial position, adjusted for factors that are specific to the debtors, general economic conditions of the industry in which the debtors operate, and an assessment of both the current as well as the forecast direction of conditions at the reporting date.
The company has two other financial assets subject to credit risk. Other receivables, see note 14, which are contract assets relating to advanced payments to specific Live clients. The outstanding amounts are repaid through income generated by ticket sales. As of December 31, 2024, the repayment of a loan receivable with a carrying amount of \u20ac\u00a03.9 million (2023: nil) is overdue. Based on contractual agreements and underlying guarantees, it is management\u2019s best estimate that the loan receivable is collectible therefor a 0% risk rate is applied in the estimation of expected credit losses. As per 31 December 2024 the company has a contingent asset (see note 26) relating to a sub- lease agreement for one of its buildings which is prepaid, a 0% risk rate is applied.
For the other financial assets, such as other receivables and deposits, the assumption is applied that, due to low credit risk and the amounts involved, the expected credit losses are deemed as not significant.
The changes in the provision for expected credit losses are as follows:
| x \u20ac\u00a01,000 | 2024 | 2023 |
|---|---|---|
| \u00a0 | \u00a0 | \u00a0 |
| \u00a0 | \u00a0 | \u00a0 |
| Balance as per 1 January | 2,087 | 5,548 |
| Additions to provision | 1,534 | 1,604 |
| Utilization of provision | (710) | (4,850) |
| Release of provision | (230) | (215) |
| Balance as per 31 December | 2,681 | 2,087 |
The aging of accounts receivables and accrued revenue is set out below:
| x \u20ac\u00a01,000 | 2024 | 2024 | 2023 | 2023 |
|---|---|---|---|---|
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| \u00a0 | Gross | Net | Gross | Net |
| Current | 38,584 | 38,206 | 32,0981 | 31,8001 |
| 1 - 30 days | 8,723 | 8,547 | 6,252 | 6,032 |
| 31 - 60 days | 829 | 753 | 2,238 | 2,149 |
| > 60 days | 4,236 | 2,185 | 4,397 | 2,917 |
| \u00a0 | 52,372 | 49,691 | 44,985 | 42,898 |
The buckets and expected credit losses (\"ECL\") are estimated as follows:
| Bucket | ECL % | |
|---|---|---|
| \u00a0 | 2024 | 2023 |
| Current | 1.0% | 1.0% |
| 1 - 30 days | 1.7% | 1.7% |
| 31 - 60 days | 5.8% | 6.2% |
| > 60 days | 14.1% | 10.0% |
CM.com applies the IFRS 9 simplified approach for measuring expected credit losses, which uses a lifetime expected loss allowance for all trade receivables excluding VAT and accrued revenue. To measure the expected credit losses, trade receivables, and accrued revenue have been grouped based on shared credit risk characteristics which are determined based on the days past due. Accrued revenue relates to unbilled services and has substantially the same risk characteristics as the current trade receivables for the same types of contracts.
The expected loss rates are based on the payment profiles of sales over prior periods and the corresponding historical credit losses experienced related to those periods.
Trade receivables are written off when there is no reasonable expectation of recovery. Indicators that there is no reasonable expectation of recovery include, among others, the failure of a debtor to engage in a repayment plan with CM.com, and a failure to make contractual payments.
Impairments on trade receivables and accrued revenue are recognized excluding VAT through profit or loss under other operational expenses. Subsequent recoveries of amounts previously written off are credited against the same line item.
Market risk is the risk that changes in market prices, such as foreign exchange rates, interest rates and equity prices will affect CM.com\u2019s income or the value of its holdings of financial instruments. The objective of market risk management is to manage and control market risk exposures within acceptable parameters, while optimising the return on risk. The market risk comprises three types of risk: interest rate risk, foreign currency risk, and other risk. CM.com only recognizes the foreign currency risk as an applicable currency risk, due to the fact that there are no outstanding loans with variable interest and little other risk from external factors.
Foreign currency risk is the risk that the fair value or future cash flows of an exposure will fluctuate because of changes in foreign exchange rates. CM.com is exposed to currency risk on sales, purchases, and (current portion of) borrowings that are denominated in a currency other than the functional currency. The currencies giving rise to this risk are primarily USD, CNY, GBP, JPY (prior year HKD), ZAR (prior year SGD), and INR. As CM.com operates globally, purchases are made in multiple currencies. Alignment of sale and purchase contracts in local currencies mitigates the risk of foreign currency translations. The amounts below exclude the foundation's activities as the cash, receivables, and payables from the foundations both receive and pay out in the same currency, as such the foreign currency risk on these amounts is remote.\u00a0
CM.com's exposure to foreign currency risk was as follows based on notional amounts:
| x \u20ac\u00a01,000 | \u00a0 | USD | ZAR | JPY | INR | GBP | CNY |
|---|---|---|---|---|---|---|---|
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| Cash and cash equivalents | \u00a0 | 1,354 | 259 | 180 | 136 | 37 | 339 |
| Short-term loan receivables | \u00a0 | - | - | - | - | 4,385 | - |
| Trade receivables | \u00a0 | 16,011 | 132 | 16 | 97 | 176 | 103 |
| Trade payables | \u00a0 | (5,842) | (89) | (720) | (37) | (1,130) | (40) |
| \u00a0 | \u00a0 | 11,523 | 302 | (524) | 196 | 3,468 | 402 |
| x \u20ac\u00a01,000 | \u00a0 | USD | SGD | HKD | INR | GBP | CNY |
|---|---|---|---|---|---|---|---|
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| Cash and cash equivalents | \u00a0 | 2,041 | 202 | 74 | 160 | 410 | 1,028 |
| Trade receivables | \u00a0 | 11,526 | - | 60 | 185 | 617 | 252 |
| Trade payables | \u00a0 | (7,350) | (133) | (30) | (30) | (752) | (169) |
| \u00a0 | \u00a0 | 6,217 | 69 | 104 | 315 | 276 | 1,110 |
The summary below shows the effect on the result that a reasonable possible change in exchange rate (+5%, calculated from exchange rate), with all other variables held constant, could have for the primary foreign excange rates:
| x \u20ac\u00a01,000 | 2024 | 2023 |
|---|---|---|
| USD | 533 | 440 |
| CNY | 19 | 56 |
| GBP | 158 | 13 |
| JPY | (25) | - |
| ZAR | 14 | - |
| INR | 10 | 15 |
| SGD | - | 13 |
| HKD | - | (32) |
Liquidity risk is the risk that CM.com will not be able to meet its financial obligations as they fall due. CM.com\u2019s approach to manage liquidity is to ensure, as far as possible, that it will always have sufficient liquidity to meet its liabilities when due, under both normal and stressed conditions, without incurring unacceptable losses or risking damage to CM.com\u2019s reputation. Periodically, liquidity budgets are prepared. Liquidity risks are controlled through interim monitoring and possible adjustments. The liquidity budgets take cash constraints into account.
CM.com assessed the concentration of risk with respect to refinancing its debt and concluded it to be low. CM.com ensures that it has sufficient cash on demand to meet expected operational expenses for a period of 180 days, including the servicing of financial obligations; this excludes the potential impact of extreme circumstances that cannot reasonably be predicted, such as natural disasters.
On 14 February 2024, CM.com established a revolving credit facility with HSBC, totaling \u20ac\u00a015 million with an accordion option of another \u20ac\u00a010 million, including guarantees for the bank in case of default (2023: no facilities). The facility has not been used since its inception. Reference is made to note 33 subsequent events, as the existing facility is replaced on 12 February 2025 by a new facility with 3 banks, totaling \u20ac\u00a080 million. Together with an equity raise the company was able to redeem outstanding convertible bonds and retain financial flexibility for the company's operations. The facility is available through 12 February 2028, with two extension options of one year each, with an interest rate of EURIBOR + Margin (4-75%-5.50%), including covenants, and guarantees for the bank in case of default.
The table below summarizes the expected future cash flows from CM.com\u2019s financial liabilities based on contractual undiscounted payments:
| x \u20ac\u00a01,000 | Note | 0-3 months | 4-12 months | 1-5 years | Over 5 years | Total | Carrying amount |
|---|---|---|---|---|---|---|---|
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| Lease liabilities | 17 | 1,190 | 2,680 | 9,562 | 5,148 | 18,580 | 15,494 |
| Convertible bonds | 18 | 1,000 | 1,000 | 102,000 | - | 104,000 | 97,630 |
| Trade payables | 20 | 42,284 | - | - | - | 42,284 | 42,284 |
| Other financial liabilities | 20 | 57,815 | - | - | - | 57,815 | 57,815 |
| Tax debt | 17 | 75 | 224 | 523 | - | 822 | 785 |
| \u00a0 | \u00a0 | 102,364 | 3,904 | 112,085 | 5,148 | 223,501 | 214,008 |
| x \u20ac\u00a01,000 | Note | 0-3 months | 4-12 months | 1-5 years | Over 5 years | Total | Carrying amount |
|---|---|---|---|---|---|---|---|
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| Lease liabilities | 17 | 1,451 | 3,006 | 9,144 | 6,776 | 20,377 | 17,521 |
| Convertible bonds | 18 | 1,000 | 1,000 | 104,000 | - | 106,000 | 95,922 |
| Trade payables | 20 | 34,153 | - | - | - | 34,153 | 34,153 |
| Other financial liabilities1 | 20 | 56,814 | - | - | - | 56,814 | 56,814 |
| Tax debt2 | 17 | 75 | 224 | 822 | - | 1,121 | 1,053 |
| \u00a0 | \u00a0 | 93,493 | 4,230 | 113,966 | 6,776 | 218,465 | 205,463 |
Credit risk represents the financial loss that would have to be recognized on the reporting date if a customer or counter party to a financial instrument fails to meet its contractual obligations and arises principally from CM.com\u2019s receivables from customers.
CM.com\u2019s exposure to credit risk is influenced mainly by the individual characteristics of each customer. The demographics of CM.com\u2019s customer base, including the default risk of the industry and country, in which customers operate, has less of an influence on credit risk. CM.com mitigates the credit risk through setting appropriate credit limits for each of its customers. We continuously monitor the creditworthiness of debtors and act appropriately on expired invoices.
The carrying amount of financial assets represents the maximum credit exposure. For CM.com\u2019s statement of the carrying amounts see note 15. No significant concentration of credit risk existed as at the reporting date.
The expected credit losses on trade receivables and accrued revenue are estimated using a provision matrix by reference to past payment behavior for a 12-month period of the debtor and analysis of the debtor\u2019s current financial position, adjusted for factors that are specific to the debtors, general economic conditions of the industry in which the debtors operate, and an assessment of both the current as well as the forecast direction of conditions at the reporting date.
The company has two other financial assets subject to credit risk. Other receivables, see note 14, which are contract assets relating to advanced payments to specific Live clients. The outstanding amounts are repaid through income generated by ticket sales. As of December 31, 2024, the repayment of a loan receivable with a carrying amount of \u20ac\u00a03.9 million (2023: nil) is overdue. Based on contractual agreements and underlying guarantees, it is management\u2019s best estimate that the loan receivable is collectible therefor a 0% risk rate is applied in the estimation of expected credit losses. As per 31 December 2024 the company has a contingent asset (see note 26) relating to a sub- lease agreement for one of its buildings which is prepaid, a 0% risk rate is applied.
For the other financial assets, such as other receivables and deposits, the assumption is applied that, due to low credit risk and the amounts involved, the expected credit losses are deemed as not significant.
The changes in the provision for expected credit losses are as follows:
| x \u20ac\u00a01,000 | 2024 | 2023 |
|---|---|---|
| \u00a0 | \u00a0 | \u00a0 |
| \u00a0 | \u00a0 | \u00a0 |
| Balance as per 1 January | 2,087 | 5,548 |
| Additions to provision | 1,534 | 1,604 |
| Utilization of provision | (710) | (4,850) |
| Release of provision | (230) | (215) |
| Balance as per 31 December | 2,681 | 2,087 |
The aging of accounts receivables and accrued revenue is set out below:
| x \u20ac\u00a01,000 | 2024 | 2024 | 2023 | 2023 |
|---|---|---|---|---|
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| \u00a0 | Gross | Net | Gross | Net |
| Current | 38,584 | 38,206 | 32,0981 | 31,8001 |
| 1 - 30 days | 8,723 | 8,547 | 6,252 | 6,032 |
| 31 - 60 days | 829 | 753 | 2,238 | 2,149 |
| > 60 days | 4,236 | 2,185 | 4,397 | 2,917 |
| \u00a0 | 52,372 | 49,691 | 44,985 | 42,898 |
The buckets and expected credit losses (\"ECL\") are estimated as follows:
| Bucket | ECL % | |
|---|---|---|
| \u00a0 | 2024 | 2023 |
| Current | 1.0% | 1.0% |
| 1 - 30 days | 1.7% | 1.7% |
| 31 - 60 days | 5.8% | 6.2% |
| > 60 days | 14.1% | 10.0% |
CM.com applies the IFRS 9 simplified approach for measuring expected credit losses, which uses a lifetime expected loss allowance for all trade receivables excluding VAT and accrued revenue. To measure the expected credit losses, trade receivables, and accrued revenue have been grouped based on shared credit risk characteristics which are determined based on the days past due. Accrued revenue relates to unbilled services and has substantially the same risk characteristics as the current trade receivables for the same types of contracts.
The expected loss rates are based on the payment profiles of sales over prior periods and the corresponding historical credit losses experienced related to those periods.
Trade receivables are written off when there is no reasonable expectation of recovery. Indicators that there is no reasonable expectation of recovery include, among others, the failure of a debtor to engage in a repayment plan with CM.com, and a failure to make contractual payments.
Impairments on trade receivables and accrued revenue are recognized excluding VAT through profit or loss under other operational expenses. Subsequent recoveries of amounts previously written off are credited against the same line item.
Market risk is the risk that changes in market prices, such as foreign exchange rates, interest rates and equity prices will affect CM.com\u2019s income or the value of its holdings of financial instruments. The objective of market risk management is to manage and control market risk exposures within acceptable parameters, while optimising the return on risk. The market risk comprises three types of risk: interest rate risk, foreign currency risk, and other risk. CM.com only recognizes the foreign currency risk as an applicable currency risk, due to the fact that there are no outstanding loans with variable interest and little other risk from external factors.
Foreign currency risk is the risk that the fair value or future cash flows of an exposure will fluctuate because of changes in foreign exchange rates. CM.com is exposed to currency risk on sales, purchases, and (current portion of) borrowings that are denominated in a currency other than the functional currency. The currencies giving rise to this risk are primarily USD, CNY, GBP, JPY (prior year HKD), ZAR (prior year SGD), and INR. As CM.com operates globally, purchases are made in multiple currencies. Alignment of sale and purchase contracts in local currencies mitigates the risk of foreign currency translations. The amounts below exclude the foundation's activities as the cash, receivables, and payables from the foundations both receive and pay out in the same currency, as such the foreign currency risk on these amounts is remote.\u00a0
CM.com's exposure to foreign currency risk was as follows based on notional amounts:
| x \u20ac\u00a01,000 | \u00a0 | USD | ZAR | JPY | INR | GBP | CNY |
|---|---|---|---|---|---|---|---|
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| Cash and cash equivalents | \u00a0 | 1,354 | 259 | 180 | 136 | 37 | 339 |
| Short-term loan receivables | \u00a0 | - | - | - | - | 4,385 | - |
| Trade receivables | \u00a0 | 16,011 | 132 | 16 | 97 | 176 | 103 |
| Trade payables | \u00a0 | (5,842) | (89) | (720) | (37) | (1,130) | (40) |
| \u00a0 | \u00a0 | 11,523 | 302 | (524) | 196 | 3,468 | 402 |
| x \u20ac\u00a01,000 | \u00a0 | USD | SGD | HKD | INR | GBP | CNY |
|---|---|---|---|---|---|---|---|
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| Cash and cash equivalents | \u00a0 | 2,041 | 202 | 74 | 160 | 410 | 1,028 |
| Trade receivables | \u00a0 | 11,526 | - | 60 | 185 | 617 | 252 |
| Trade payables | \u00a0 | (7,350) | (133) | (30) | (30) | (752) | (169) |
| \u00a0 | \u00a0 | 6,217 | 69 | 104 | 315 | 276 | 1,110 |
The summary below shows the effect on the result that a reasonable possible change in exchange rate (+5%, calculated from exchange rate), with all other variables held constant, could have for the primary foreign excange rates:
| x \u20ac\u00a01,000 | 2024 | 2023 |
|---|---|---|
| USD | 533 | 440 |
| CNY | 19 | 56 |
| GBP | 158 | 13 |
| JPY | (25) | - |
| ZAR | 14 | - |
| INR | 10 | 15 |
| SGD | - | 13 |
| HKD | - | (32) |
Liquidity risk is the risk that CM.com will not be able to meet its financial obligations as they fall due. CM.com\u2019s approach to manage liquidity is to ensure, as far as possible, that it will always have sufficient liquidity to meet its liabilities when due, under both normal and stressed conditions, without incurring unacceptable losses or risking damage to CM.com\u2019s reputation. Periodically, liquidity budgets are prepared. Liquidity risks are controlled through interim monitoring and possible adjustments. The liquidity budgets take cash constraints into account.
CM.com assessed the concentration of risk with respect to refinancing its debt and concluded it to be low. CM.com ensures that it has sufficient cash on demand to meet expected operational expenses for a period of 180 days, including the servicing of financial obligations; this excludes the potential impact of extreme circumstances that cannot reasonably be predicted, such as natural disasters.
On 14 February 2024, CM.com established a revolving credit facility with HSBC, totaling \u20ac\u00a015 million with an accordion option of another \u20ac\u00a010 million, including guarantees for the bank in case of default (2023: no facilities). The facility has not been used since its inception. Reference is made to note 33 subsequent events, as the existing facility is replaced on 12 February 2025 by a new facility with 3 banks, totaling \u20ac\u00a080 million. Together with an equity raise the company was able to redeem outstanding convertible bonds and retain financial flexibility for the company's operations. The facility is available through 12 February 2028, with two extension options of one year each, with an interest rate of EURIBOR + Margin (4-75%-5.50%), including covenants, and guarantees for the bank in case of default.
The table below summarizes the expected future cash flows from CM.com\u2019s financial liabilities based on contractual undiscounted payments:
| x \u20ac\u00a01,000 | Note | 0-3 months | 4-12 months | 1-5 years | Over 5 years | Total | Carrying amount |
|---|---|---|---|---|---|---|---|
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| Lease liabilities | 17 | 1,190 | 2,680 | 9,562 | 5,148 | 18,580 | 15,494 |
| Convertible bonds | 18 | 1,000 | 1,000 | 102,000 | - | 104,000 | 97,630 |
| Trade payables | 20 | 42,284 | - | - | - | 42,284 | 42,284 |
| Other financial liabilities | 20 | 57,815 | - | - | - | 57,815 | 57,815 |
| Tax debt | 17 | 75 | 224 | 523 | - | 822 | 785 |
| \u00a0 | \u00a0 | 102,364 | 3,904 | 112,085 | 5,148 | 223,501 | 214,008 |
| x \u20ac\u00a01,000 | Note | 0-3 months | 4-12 months | 1-5 years | Over 5 years | Total | Carrying amount |
|---|---|---|---|---|---|---|---|
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| Lease liabilities | 17 | 1,451 | 3,006 | 9,144 | 6,776 | 20,377 | 17,521 |
| Convertible bonds | 18 | 1,000 | 1,000 | 104,000 | - | 106,000 | 95,922 |
| Trade payables | 20 | 34,153 | - | - | - | 34,153 | 34,153 |
| Other financial liabilities1 | 20 | 56,814 | - | - | - | 56,814 | 56,814 |
| Tax debt2 | 17 | 75 | 224 | 822 | - | 1,121 | 1,053 |
| \u00a0 | \u00a0 | 93,493 | 4,230 | 113,966 | 6,776 | 218,465 | 205,463 |
Credit risk represents the financial loss that would have to be recognized on the reporting date if a customer or counter party to a financial instrument fails to meet its contractual obligations and arises principally from CM.com\u2019s receivables from customers.
CM.com\u2019s exposure to credit risk is influenced mainly by the individual characteristics of each customer. The demographics of CM.com\u2019s customer base, including the default risk of the industry and country, in which customers operate, has less of an influence on credit risk. CM.com mitigates the credit risk through setting appropriate credit limits for each of its customers. We continuously monitor the creditworthiness of debtors and act appropriately on expired invoices.
The carrying amount of financial assets represents the maximum credit exposure. For CM.com\u2019s statement of the carrying amounts see note 15. No significant concentration of credit risk existed as at the reporting date.
The expected credit losses on trade receivables and accrued revenue are estimated using a provision matrix by reference to past payment behavior for a 12-month period of the debtor and analysis of the debtor\u2019s current financial position, adjusted for factors that are specific to the debtors, general economic conditions of the industry in which the debtors operate, and an assessment of both the current as well as the forecast direction of conditions at the reporting date.
The company has two other financial assets subject to credit risk. Other receivables, see note 14, which are contract assets relating to advanced payments to specific Live clients. The outstanding amounts are repaid through income generated by ticket sales. As of December 31, 2024, the repayment of a loan receivable with a carrying amount of \u20ac\u00a03.9 million (2023: nil) is overdue. Based on contractual agreements and underlying guarantees, it is management\u2019s best estimate that the loan receivable is collectible therefor a 0% risk rate is applied in the estimation of expected credit losses. As per 31 December 2024 the company has a contingent asset (see note 26) relating to a sub- lease agreement for one of its buildings which is prepaid, a 0% risk rate is applied.
For the other financial assets, such as other receivables and deposits, the assumption is applied that, due to low credit risk and the amounts involved, the expected credit losses are deemed as not significant.
The changes in the provision for expected credit losses are as follows:
| x \u20ac\u00a01,000 | 2024 | 2023 |
|---|---|---|
| \u00a0 | \u00a0 | \u00a0 |
| \u00a0 | \u00a0 | \u00a0 |
| Balance as per 1 January | 2,087 | 5,548 |
| Additions to provision | 1,534 | 1,604 |
| Utilization of provision | (710) | (4,850) |
| Release of provision | (230) | (215) |
| Balance as per 31 December | 2,681 | 2,087 |
The aging of accounts receivables and accrued revenue is set out below:
| x \u20ac\u00a01,000 | 2024 | 2024 | 2023 | 2023 |
|---|---|---|---|---|
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| \u00a0 | Gross | Net | Gross | Net |
| Current | 38,584 | 38,206 | 32,0981 | 31,8001 |
| 1 - 30 days | 8,723 | 8,547 | 6,252 | 6,032 |
| 31 - 60 days | 829 | 753 | 2,238 | 2,149 |
| > 60 days | 4,236 | 2,185 | 4,397 | 2,917 |
| \u00a0 | 52,372 | 49,691 | 44,985 | 42,898 |
The buckets and expected credit losses (\"ECL\") are estimated as follows:
| Bucket | ECL % | |
|---|---|---|
| \u00a0 | 2024 | 2023 |
| Current | 1.0% | 1.0% |
| 1 - 30 days | 1.7% | 1.7% |
| 31 - 60 days | 5.8% | 6.2% |
| > 60 days | 14.1% | 10.0% |
CM.com applies the IFRS 9 simplified approach for measuring expected credit losses, which uses a lifetime expected loss allowance for all trade receivables excluding VAT and accrued revenue. To measure the expected credit losses, trade receivables, and accrued revenue have been grouped based on shared credit risk characteristics which are determined based on the days past due. Accrued revenue relates to unbilled services and has substantially the same risk characteristics as the current trade receivables for the same types of contracts.
The expected loss rates are based on the payment profiles of sales over prior periods and the corresponding historical credit losses experienced related to those periods.
Trade receivables are written off when there is no reasonable expectation of recovery. Indicators that there is no reasonable expectation of recovery include, among others, the failure of a debtor to engage in a repayment plan with CM.com, and a failure to make contractual payments.
Impairments on trade receivables and accrued revenue are recognized excluding VAT through profit or loss under other operational expenses. Subsequent recoveries of amounts previously written off are credited against the same line item.
Market risk is the risk that changes in market prices, such as foreign exchange rates, interest rates and equity prices will affect CM.com\u2019s income or the value of its holdings of financial instruments. The objective of market risk management is to manage and control market risk exposures within acceptable parameters, while optimising the return on risk. The market risk comprises three types of risk: interest rate risk, foreign currency risk, and other risk. CM.com only recognizes the foreign currency risk as an applicable currency risk, due to the fact that there are no outstanding loans with variable interest and little other risk from external factors.
Foreign currency risk is the risk that the fair value or future cash flows of an exposure will fluctuate because of changes in foreign exchange rates. CM.com is exposed to currency risk on sales, purchases, and (current portion of) borrowings that are denominated in a currency other than the functional currency. The currencies giving rise to this risk are primarily USD, CNY, GBP, JPY (prior year HKD), ZAR (prior year SGD), and INR. As CM.com operates globally, purchases are made in multiple currencies. Alignment of sale and purchase contracts in local currencies mitigates the risk of foreign currency translations. The amounts below exclude the foundation's activities as the cash, receivables, and payables from the foundations both receive and pay out in the same currency, as such the foreign currency risk on these amounts is remote.\u00a0
CM.com's exposure to foreign currency risk was as follows based on notional amounts:
| x \u20ac\u00a01,000 | \u00a0 | USD | ZAR | JPY | INR | GBP | CNY |
|---|---|---|---|---|---|---|---|
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| Cash and cash equivalents | \u00a0 | 1,354 | 259 | 180 | 136 | 37 | 339 |
| Short-term loan receivables | \u00a0 | - | - | - | - | 4,385 | - |
| Trade receivables | \u00a0 | 16,011 | 132 | 16 | 97 | 176 | 103 |
| Trade payables | \u00a0 | (5,842) | (89) | (720) | (37) | (1,130) | (40) |
| \u00a0 | \u00a0 | 11,523 | 302 | (524) | 196 | 3,468 | 402 |
| x \u20ac\u00a01,000 | \u00a0 | USD | SGD | HKD | INR | GBP | CNY |
|---|---|---|---|---|---|---|---|
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| Cash and cash equivalents | \u00a0 | 2,041 | 202 | 74 | 160 | 410 | 1,028 |
| Trade receivables | \u00a0 | 11,526 | - | 60 | 185 | 617 | 252 |
| Trade payables | \u00a0 | (7,350) | (133) | (30) | (30) | (752) | (169) |
| \u00a0 | \u00a0 | 6,217 | 69 | 104 | 315 | 276 | 1,110 |
The summary below shows the effect on the result that a reasonable possible change in exchange rate (+5%, calculated from exchange rate), with all other variables held constant, could have for the primary foreign excange rates:
| x \u20ac\u00a01,000 | 2024 | 2023 |
|---|---|---|
| USD | 533 | 440 |
| CNY | 19 | 56 |
| GBP | 158 | 13 |
| JPY | (25) | - |
| ZAR | 14 | - |
| INR | 10 | 15 |
| SGD | - | 13 |
| HKD | - | (32) |
Liquidity risk is the risk that CM.com will not be able to meet its financial obligations as they fall due. CM.com\u2019s approach to manage liquidity is to ensure, as far as possible, that it will always have sufficient liquidity to meet its liabilities when due, under both normal and stressed conditions, without incurring unacceptable losses or risking damage to CM.com\u2019s reputation. Periodically, liquidity budgets are prepared. Liquidity risks are controlled through interim monitoring and possible adjustments. The liquidity budgets take cash constraints into account.
CM.com assessed the concentration of risk with respect to refinancing its debt and concluded it to be low. CM.com ensures that it has sufficient cash on demand to meet expected operational expenses for a period of 180 days, including the servicing of financial obligations; this excludes the potential impact of extreme circumstances that cannot reasonably be predicted, such as natural disasters.
On 14 February 2024, CM.com established a revolving credit facility with HSBC, totaling \u20ac\u00a015 million with an accordion option of another \u20ac\u00a010 million, including guarantees for the bank in case of default (2023: no facilities). The facility has not been used since its inception. Reference is made to note 33 subsequent events, as the existing facility is replaced on 12 February 2025 by a new facility with 3 banks, totaling \u20ac\u00a080 million. Together with an equity raise the company was able to redeem outstanding convertible bonds and retain financial flexibility for the company's operations. The facility is available through 12 February 2028, with two extension options of one year each, with an interest rate of EURIBOR + Margin (4-75%-5.50%), including covenants, and guarantees for the bank in case of default.
The table below summarizes the expected future cash flows from CM.com\u2019s financial liabilities based on contractual undiscounted payments:
| x \u20ac\u00a01,000 | Note | 0-3 months | 4-12 months | 1-5 years | Over 5 years | Total | Carrying amount |
|---|---|---|---|---|---|---|---|
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| Lease liabilities | 17 | 1,190 | 2,680 | 9,562 | 5,148 | 18,580 | 15,494 |
| Convertible bonds | 18 | 1,000 | 1,000 | 102,000 | - | 104,000 | 97,630 |
| Trade payables | 20 | 42,284 | - | - | - | 42,284 | 42,284 |
| Other financial liabilities | 20 | 57,815 | - | - | - | 57,815 | 57,815 |
| Tax debt | 17 | 75 | 224 | 523 | - | 822 | 785 |
| \u00a0 | \u00a0 | 102,364 | 3,904 | 112,085 | 5,148 | 223,501 | 214,008 |
| x \u20ac\u00a01,000 | Note | 0-3 months | 4-12 months | 1-5 years | Over 5 years | Total | Carrying amount |
|---|---|---|---|---|---|---|---|
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| Lease liabilities | 17 | 1,451 | 3,006 | 9,144 | 6,776 | 20,377 | 17,521 |
| Convertible bonds | 18 | 1,000 | 1,000 | 104,000 | - | 106,000 | 95,922 |
| Trade payables | 20 | 34,153 | - | - | - | 34,153 | 34,153 |
| Other financial liabilities1 | 20 | 56,814 | - | - | - | 56,814 | 56,814 |
| Tax debt2 | 17 | 75 | 224 | 822 | - | 1,121 | 1,053 |
| \u00a0 | \u00a0 | 93,493 | 4,230 | 113,966 | 6,776 | 218,465 | 205,463 |
Credit risk represents the financial loss that would have to be recognized on the reporting date if a customer or counter party to a financial instrument fails to meet its contractual obligations and arises principally from CM.com\u2019s receivables from customers.
CM.com\u2019s exposure to credit risk is influenced mainly by the individual characteristics of each customer. The demographics of CM.com\u2019s customer base, including the default risk of the industry and country, in which customers operate, has less of an influence on credit risk. CM.com mitigates the credit risk through setting appropriate credit limits for each of its customers. We continuously monitor the creditworthiness of debtors and act appropriately on expired invoices.
The carrying amount of financial assets represents the maximum credit exposure. For CM.com\u2019s statement of the carrying amounts see note 15. No significant concentration of credit risk existed as at the reporting date.
The expected credit losses on trade receivables and accrued revenue are estimated using a provision matrix by reference to past payment behavior for a 12-month period of the debtor and analysis of the debtor\u2019s current financial position, adjusted for factors that are specific to the debtors, general economic conditions of the industry in which the debtors operate, and an assessment of both the current as well as the forecast direction of conditions at the reporting date.
The company has two other financial assets subject to credit risk. Other receivables, see note 14, which are contract assets relating to advanced payments to specific Live clients. The outstanding amounts are repaid through income generated by ticket sales. As of December 31, 2024, the repayment of a loan receivable with a carrying amount of \u20ac\u00a03.9 million (2023: nil) is overdue. Based on contractual agreements and underlying guarantees, it is management\u2019s best estimate that the loan receivable is collectible therefor a 0% risk rate is applied in the estimation of expected credit losses. As per 31 December 2024 the company has a contingent asset (see note 26) relating to a sub- lease agreement for one of its buildings which is prepaid, a 0% risk rate is applied.
For the other financial assets, such as other receivables and deposits, the assumption is applied that, due to low credit risk and the amounts involved, the expected credit losses are deemed as not significant.
The changes in the provision for expected credit losses are as follows:
| x \u20ac\u00a01,000 | 2024 | 2023 |
|---|---|---|
| \u00a0 | \u00a0 | \u00a0 |
| \u00a0 | \u00a0 | \u00a0 |
| Balance as per 1 January | 2,087 | 5,548 |
| Additions to provision | 1,534 | 1,604 |
| Utilization of provision | (710) | (4,850) |
| Release of provision | (230) | (215) |
| Balance as per 31 December | 2,681 | 2,087 |
The aging of accounts receivables and accrued revenue is set out below:
| x \u20ac\u00a01,000 | 2024 | 2024 | 2023 | 2023 |
|---|---|---|---|---|
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| \u00a0 | Gross | Net | Gross | Net |
| Current | 38,584 | 38,206 | 32,0981 | 31,8001 |
| 1 - 30 days | 8,723 | 8,547 | 6,252 | 6,032 |
| 31 - 60 days | 829 | 753 | 2,238 | 2,149 |
| > 60 days | 4,236 | 2,185 | 4,397 | 2,917 |
| \u00a0 | 52,372 | 49,691 | 44,985 | 42,898 |
The buckets and expected credit losses (\"ECL\") are estimated as follows:
| Bucket | ECL % | |
|---|---|---|
| \u00a0 | 2024 | 2023 |
| Current | 1.0% | 1.0% |
| 1 - 30 days | 1.7% | 1.7% |
| 31 - 60 days | 5.8% | 6.2% |
| > 60 days | 14.1% | 10.0% |
CM.com applies the IFRS 9 simplified approach for measuring expected credit losses, which uses a lifetime expected loss allowance for all trade receivables excluding VAT and accrued revenue. To measure the expected credit losses, trade receivables, and accrued revenue have been grouped based on shared credit risk characteristics which are determined based on the days past due. Accrued revenue relates to unbilled services and has substantially the same risk characteristics as the current trade receivables for the same types of contracts.
The expected loss rates are based on the payment profiles of sales over prior periods and the corresponding historical credit losses experienced related to those periods.
Trade receivables are written off when there is no reasonable expectation of recovery. Indicators that there is no reasonable expectation of recovery include, among others, the failure of a debtor to engage in a repayment plan with CM.com, and a failure to make contractual payments.
Impairments on trade receivables and accrued revenue are recognized excluding VAT through profit or loss under other operational expenses. Subsequent recoveries of amounts previously written off are credited against the same line item.
Market risk is the risk that changes in market prices, such as foreign exchange rates, interest rates and equity prices will affect CM.com\u2019s income or the value of its holdings of financial instruments. The objective of market risk management is to manage and control market risk exposures within acceptable parameters, while optimising the return on risk. The market risk comprises three types of risk: interest rate risk, foreign currency risk, and other risk. CM.com only recognizes the foreign currency risk as an applicable currency risk, due to the fact that there are no outstanding loans with variable interest and little other risk from external factors.
Foreign currency risk is the risk that the fair value or future cash flows of an exposure will fluctuate because of changes in foreign exchange rates. CM.com is exposed to currency risk on sales, purchases, and (current portion of) borrowings that are denominated in a currency other than the functional currency. The currencies giving rise to this risk are primarily USD, CNY, GBP, JPY (prior year HKD), ZAR (prior year SGD), and INR. As CM.com operates globally, purchases are made in multiple currencies. Alignment of sale and purchase contracts in local currencies mitigates the risk of foreign currency translations. The amounts below exclude the foundation's activities as the cash, receivables, and payables from the foundations both receive and pay out in the same currency, as such the foreign currency risk on these amounts is remote.\u00a0
CM.com's exposure to foreign currency risk was as follows based on notional amounts:
| x \u20ac\u00a01,000 | \u00a0 | USD | ZAR | JPY | INR | GBP | CNY |
|---|---|---|---|---|---|---|---|
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| Cash and cash equivalents | \u00a0 | 1,354 | 259 | 180 | 136 | 37 | 339 |
| Short-term loan receivables | \u00a0 | - | - | - | - | 4,385 | - |
| Trade receivables | \u00a0 | 16,011 | 132 | 16 | 97 | 176 | 103 |
| Trade payables | \u00a0 | (5,842) | (89) | (720) | (37) | (1,130) | (40) |
| \u00a0 | \u00a0 | 11,523 | 302 | (524) | 196 | 3,468 | 402 |
| x \u20ac\u00a01,000 | \u00a0 | USD | SGD | HKD | INR | GBP | CNY |
|---|---|---|---|---|---|---|---|
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| Cash and cash equivalents | \u00a0 | 2,041 | 202 | 74 | 160 | 410 | 1,028 |
| Trade receivables | \u00a0 | 11,526 | - | 60 | 185 | 617 | 252 |
| Trade payables | \u00a0 | (7,350) | (133) | (30) | (30) | (752) | (169) |
| \u00a0 | \u00a0 | 6,217 | 69 | 104 | 315 | 276 | 1,110 |
The summary below shows the effect on the result that a reasonable possible change in exchange rate (+5%, calculated from exchange rate), with all other variables held constant, could have for the primary foreign excange rates:
| x \u20ac\u00a01,000 | 2024 | 2023 |
|---|---|---|
| USD | 533 | 440 |
| CNY | 19 | 56 |
| GBP | 158 | 13 |
| JPY | (25) | - |
| ZAR | 14 | - |
| INR | 10 | 15 |
| SGD | - | 13 |
| HKD | - | (32) |
Liquidity risk is the risk that CM.com will not be able to meet its financial obligations as they fall due. CM.com\u2019s approach to manage liquidity is to ensure, as far as possible, that it will always have sufficient liquidity to meet its liabilities when due, under both normal and stressed conditions, without incurring unacceptable losses or risking damage to CM.com\u2019s reputation. Periodically, liquidity budgets are prepared. Liquidity risks are controlled through interim monitoring and possible adjustments. The liquidity budgets take cash constraints into account.
CM.com assessed the concentration of risk with respect to refinancing its debt and concluded it to be low. CM.com ensures that it has sufficient cash on demand to meet expected operational expenses for a period of 180 days, including the servicing of financial obligations; this excludes the potential impact of extreme circumstances that cannot reasonably be predicted, such as natural disasters.
On 14 February 2024, CM.com established a revolving credit facility with HSBC, totaling \u20ac\u00a015 million with an accordion option of another \u20ac\u00a010 million, including guarantees for the bank in case of default (2023: no facilities). The facility has not been used since its inception. Reference is made to note 33 subsequent events, as the existing facility is replaced on 12 February 2025 by a new facility with 3 banks, totaling \u20ac\u00a080 million. Together with an equity raise the company was able to redeem outstanding convertible bonds and retain financial flexibility for the company's operations. The facility is available through 12 February 2028, with two extension options of one year each, with an interest rate of EURIBOR + Margin (4-75%-5.50%), including covenants, and guarantees for the bank in case of default.
The table below summarizes the expected future cash flows from CM.com\u2019s financial liabilities based on contractual undiscounted payments:
| x \u20ac\u00a01,000 | Note | 0-3 months | 4-12 months | 1-5 years | Over 5 years | Total | Carrying amount |
|---|---|---|---|---|---|---|---|
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| Lease liabilities | 17 | 1,190 | 2,680 | 9,562 | 5,148 | 18,580 | 15,494 |
| Convertible bonds | 18 | 1,000 | 1,000 | 102,000 | - | 104,000 | 97,630 |
| Trade payables | 20 | 42,284 | - | - | - | 42,284 | 42,284 |
| Other financial liabilities | 20 | 57,815 | - | - | - | 57,815 | 57,815 |
| Tax debt | 17 | 75 | 224 | 523 | - | 822 | 785 |
| \u00a0 | \u00a0 | 102,364 | 3,904 | 112,085 | 5,148 | 223,501 | 214,008 |
| x \u20ac\u00a01,000 | Note | 0-3 months | 4-12 months | 1-5 years | Over 5 years | Total | Carrying amount |
|---|---|---|---|---|---|---|---|
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| Lease liabilities | 17 | 1,451 | 3,006 | 9,144 | 6,776 | 20,377 | 17,521 |
| Convertible bonds | 18 | 1,000 | 1,000 | 104,000 | - | 106,000 | 95,922 |
| Trade payables | 20 | 34,153 | - | - | - | 34,153 | 34,153 |
| Other financial liabilities1 | 20 | 56,814 | - | - | - | 56,814 | 56,814 |
| Tax debt2 | 17 | 75 | 224 | 822 | - | 1,121 | 1,053 |
| \u00a0 | \u00a0 | 93,493 | 4,230 | 113,966 | 6,776 | 218,465 | 205,463 |
Credit risk represents the financial loss that would have to be recognized on the reporting date if a customer or counter party to a financial instrument fails to meet its contractual obligations and arises principally from CM.com\u2019s receivables from customers.
CM.com\u2019s exposure to credit risk is influenced mainly by the individual characteristics of each customer. The demographics of CM.com\u2019s customer base, including the default risk of the industry and country, in which customers operate, has less of an influence on credit risk. CM.com mitigates the credit risk through setting appropriate credit limits for each of its customers. We continuously monitor the creditworthiness of debtors and act appropriately on expired invoices.
The carrying amount of financial assets represents the maximum credit exposure. For CM.com\u2019s statement of the carrying amounts see note 15. No significant concentration of credit risk existed as at the reporting date.
The expected credit losses on trade receivables and accrued revenue are estimated using a provision matrix by reference to past payment behavior for a 12-month period of the debtor and analysis of the debtor\u2019s current financial position, adjusted for factors that are specific to the debtors, general economic conditions of the industry in which the debtors operate, and an assessment of both the current as well as the forecast direction of conditions at the reporting date.
The company has two other financial assets subject to credit risk. Other receivables, see note 14, which are contract assets relating to advanced payments to specific Live clients. The outstanding amounts are repaid through income generated by ticket sales. As of December 31, 2024, the repayment of a loan receivable with a carrying amount of \u20ac\u00a03.9 million (2023: nil) is overdue. Based on contractual agreements and underlying guarantees, it is management\u2019s best estimate that the loan receivable is collectible therefor a 0% risk rate is applied in the estimation of expected credit losses. As per 31 December 2024 the company has a contingent asset (see note 26) relating to a sub- lease agreement for one of its buildings which is prepaid, a 0% risk rate is applied.
For the other financial assets, such as other receivables and deposits, the assumption is applied that, due to low credit risk and the amounts involved, the expected credit losses are deemed as not significant.
The changes in the provision for expected credit losses are as follows:
| x \u20ac\u00a01,000 | 2024 | 2023 |
|---|---|---|
| \u00a0 | \u00a0 | \u00a0 |
| \u00a0 | \u00a0 | \u00a0 |
| Balance as per 1 January | 2,087 | 5,548 |
| Additions to provision | 1,534 | 1,604 |
| Utilization of provision | (710) | (4,850) |
| Release of provision | (230) | (215) |
| Balance as per 31 December | 2,681 | 2,087 |
The aging of accounts receivables and accrued revenue is set out below:
| x \u20ac\u00a01,000 | 2024 | 2024 | 2023 | 2023 |
|---|---|---|---|---|
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| \u00a0 | Gross | Net | Gross | Net |
| Current | 38,584 | 38,206 | 32,0981 | 31,8001 |
| 1 - 30 days | 8,723 | 8,547 | 6,252 | 6,032 |
| 31 - 60 days | 829 | 753 | 2,238 | 2,149 |
| > 60 days | 4,236 | 2,185 | 4,397 | 2,917 |
| \u00a0 | 52,372 | 49,691 | 44,985 | 42,898 |
The buckets and expected credit losses (\"ECL\") are estimated as follows:
| Bucket | ECL % | |
|---|---|---|
| \u00a0 | 2024 | 2023 |
| Current | 1.0% | 1.0% |
| 1 - 30 days | 1.7% | 1.7% |
| 31 - 60 days | 5.8% | 6.2% |
| > 60 days | 14.1% | 10.0% |
CM.com applies the IFRS 9 simplified approach for measuring expected credit losses, which uses a lifetime expected loss allowance for all trade receivables excluding VAT and accrued revenue. To measure the expected credit losses, trade receivables, and accrued revenue have been grouped based on shared credit risk characteristics which are determined based on the days past due. Accrued revenue relates to unbilled services and has substantially the same risk characteristics as the current trade receivables for the same types of contracts.
The expected loss rates are based on the payment profiles of sales over prior periods and the corresponding historical credit losses experienced related to those periods.
Trade receivables are written off when there is no reasonable expectation of recovery. Indicators that there is no reasonable expectation of recovery include, among others, the failure of a debtor to engage in a repayment plan with CM.com, and a failure to make contractual payments.
Impairments on trade receivables and accrued revenue are recognized excluding VAT through profit or loss under other operational expenses. Subsequent recoveries of amounts previously written off are credited against the same line item.
Market risk is the risk that changes in market prices, such as foreign exchange rates, interest rates and equity prices will affect CM.com\u2019s income or the value of its holdings of financial instruments. The objective of market risk management is to manage and control market risk exposures within acceptable parameters, while optimising the return on risk. The market risk comprises three types of risk: interest rate risk, foreign currency risk, and other risk. CM.com only recognizes the foreign currency risk as an applicable currency risk, due to the fact that there are no outstanding loans with variable interest and little other risk from external factors.
Foreign currency risk is the risk that the fair value or future cash flows of an exposure will fluctuate because of changes in foreign exchange rates. CM.com is exposed to currency risk on sales, purchases, and (current portion of) borrowings that are denominated in a currency other than the functional currency. The currencies giving rise to this risk are primarily USD, CNY, GBP, JPY (prior year HKD), ZAR (prior year SGD), and INR. As CM.com operates globally, purchases are made in multiple currencies. Alignment of sale and purchase contracts in local currencies mitigates the risk of foreign currency translations. The amounts below exclude the foundation's activities as the cash, receivables, and payables from the foundations both receive and pay out in the same currency, as such the foreign currency risk on these amounts is remote.\u00a0
CM.com's exposure to foreign currency risk was as follows based on notional amounts:
| x \u20ac\u00a01,000 | \u00a0 | USD | ZAR | JPY | INR | GBP | CNY |
|---|---|---|---|---|---|---|---|
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| Cash and cash equivalents | \u00a0 | 1,354 | 259 | 180 | 136 | 37 | 339 |
| Short-term loan receivables | \u00a0 | - | - | - | - | 4,385 | - |
| Trade receivables | \u00a0 | 16,011 | 132 | 16 | 97 | 176 | 103 |
| Trade payables | \u00a0 | (5,842) | (89) | (720) | (37) | (1,130) | (40) |
| \u00a0 | \u00a0 | 11,523 | 302 | (524) | 196 | 3,468 | 402 |
| x \u20ac\u00a01,000 | \u00a0 | USD | SGD | HKD | INR | GBP | CNY |
|---|---|---|---|---|---|---|---|
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| Cash and cash equivalents | \u00a0 | 2,041 | 202 | 74 | 160 | 410 | 1,028 |
| Trade receivables | \u00a0 | 11,526 | - | 60 | 185 | 617 | 252 |
| Trade payables | \u00a0 | (7,350) | (133) | (30) | (30) | (752) | (169) |
| \u00a0 | \u00a0 | 6,217 | 69 | 104 | 315 | 276 | 1,110 |
The summary below shows the effect on the result that a reasonable possible change in exchange rate (+5%, calculated from exchange rate), with all other variables held constant, could have for the primary foreign excange rates:
| x \u20ac\u00a01,000 | 2024 | 2023 |
|---|---|---|
| USD | 533 | 440 |
| CNY | 19 | 56 |
| GBP | 158 | 13 |
| JPY | (25) | - |
| ZAR | 14 | - |
| INR | 10 | 15 |
| SGD | - | 13 |
| HKD | - | (32) |
Liquidity risk is the risk that CM.com will not be able to meet its financial obligations as they fall due. CM.com\u2019s approach to manage liquidity is to ensure, as far as possible, that it will always have sufficient liquidity to meet its liabilities when due, under both normal and stressed conditions, without incurring unacceptable losses or risking damage to CM.com\u2019s reputation. Periodically, liquidity budgets are prepared. Liquidity risks are controlled through interim monitoring and possible adjustments. The liquidity budgets take cash constraints into account.
CM.com assessed the concentration of risk with respect to refinancing its debt and concluded it to be low. CM.com ensures that it has sufficient cash on demand to meet expected operational expenses for a period of 180 days, including the servicing of financial obligations; this excludes the potential impact of extreme circumstances that cannot reasonably be predicted, such as natural disasters.
On 14 February 2024, CM.com established a revolving credit facility with HSBC, totaling \u20ac\u00a015 million with an accordion option of another \u20ac\u00a010 million, including guarantees for the bank in case of default (2023: no facilities). The facility has not been used since its inception. Reference is made to note 33 subsequent events, as the existing facility is replaced on 12 February 2025 by a new facility with 3 banks, totaling \u20ac\u00a080 million. Together with an equity raise the company was able to redeem outstanding convertible bonds and retain financial flexibility for the company's operations. The facility is available through 12 February 2028, with two extension options of one year each, with an interest rate of EURIBOR + Margin (4-75%-5.50%), including covenants, and guarantees for the bank in case of default.
The table below summarizes the expected future cash flows from CM.com\u2019s financial liabilities based on contractual undiscounted payments:
| x \u20ac\u00a01,000 | Note | 0-3 months | 4-12 months | 1-5 years | Over 5 years | Total | Carrying amount |
|---|---|---|---|---|---|---|---|
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| Lease liabilities | 17 | 1,190 | 2,680 | 9,562 | 5,148 | 18,580 | 15,494 |
| Convertible bonds | 18 | 1,000 | 1,000 | 102,000 | - | 104,000 | 97,630 |
| Trade payables | 20 | 42,284 | - | - | - | 42,284 | 42,284 |
| Other financial liabilities | 20 | 57,815 | - | - | - | 57,815 | 57,815 |
| Tax debt | 17 | 75 | 224 | 523 | - | 822 | 785 |
| \u00a0 | \u00a0 | 102,364 | 3,904 | 112,085 | 5,148 | 223,501 | 214,008 |
| x \u20ac\u00a01,000 | Note | 0-3 months | 4-12 months | 1-5 years | Over 5 years | Total | Carrying amount |
|---|---|---|---|---|---|---|---|
| \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| Lease liabilities | 17 | 1,451 | 3,006 | 9,144 | 6,776 | 20,377 | 17,521 |
| Convertible bonds | 18 | 1,000 | 1,000 | 104,000 | - | 106,000 | 95,922 |
| Trade payables | 20 | 34,153 | - | - | - | 34,153 | 34,153 |
| Other financial liabilities1 | 20 | 56,814 | - | - | - | 56,814 | 56,814 |
| Tax debt2 | 17 | 75 | 224 | 822 | - | 1,121 | 1,053 |
| \u00a0 | \u00a0 | 93,493 | 4,230 | 113,966 | 6,776 | 218,465 | 205,463 |
Financial assets and liabilities are initially recognized when CM.com becomes a party to the contractual provisions of the instrument.
The financial assets to which CM.com is a party include loans receivable, trade and other receivables, deposits, equity investments, cash and cash equivalents.
Financial assets are, at initial recognition measured at fair value plus, in the case of a financial asset not at fair value through profit or loss, transaction costs that are directly attributable to its acquisition. Except for trade receivables without a significant financing component, these are initially measured at the transaction price.
After initial recognition, financial assets are subsequently measured at amortized cost or fair value through profit or loss on the basis of both the entity\u2019s business model for managing financial assets and the contractual cash flow characteristics of the financial asset.
A financial asset is measured at amortized cost using the effective interest method if it meets both of the following conditions:
it is held within a business model whose objective is to hold assets to collect contractual cash flows; and
its contractual terms give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding.
Financial assets held for trading, such as equity investments, are valued at fair value through profit or loss.
Financial assets that are subsequently measured at amortized cost are reduced by impairments. See note 12 for the recognition of the provision for expected credit losses for all financial assets not measured at fair value through profit or loss. Calculation of interest income is done by using the effective interest method. Interest income, currency results, and impairments are recognized in profit or loss.
The carrying amounts of CM.com\u2019s financial assets are a reasonable approximation of their fair values.
CM.com derecognizes a financial asset when the contractual rights to the cash flows from the financial asset expire, or it transfers the rights to receive the contractual cash flows in a transaction in which substantially all of the risks and rewards of ownership of the financial asset are transferred, or in which CM.com neither transfers nor retains substantially all of the risks and rewards of ownership and it does not retain control of the financial asset. Any gain or loss from derecognition is recognized in profit or loss.
Financial liabilities to which CM.com is a party include, trade and other payables, long-term borrowings, lease liabilities, and convertible bonds.
Financial liabilities are initially recognized at fair value less, in the case of a financial liability not at fair value through profit or loss, transaction costs directly attributable to its issue.
All financial liabilities are classified as subsequently measured at amortized cost, except for contingent considerations in business acquisitions, which are subsequently measured at fair value with changes recognized through profit or loss. Any difference between the proceeds (net of transaction costs) and the redemption amount are recognized in profit or loss over the period of the borrowings using the effective interest method.
Lease liabilities are initially measured at the present value of the lease payments that are not paid at the commencement date, discounted using the interest rate implicit in the lease or, if that rate cannot be readily determined, CM.com\u2019s incremental borrowing rate. See note 12 for maturity analysis. Generally, CM.com uses its incremental borrowing rate as the discount rate. The lease liability is subsequently increased by the interest cost on the lease liability and decreased by lease payment made. It is remeasured when there is a change in future lease payments arising from a change in an index or rate, a change in the estimate of the amount expected to be payable under a residual value guarantee, or as appropriate, changes in the assessment of whether a purchase or extension option is reasonably certain to be exercised or a termination option is reasonably certain not to be exercised. The carrying amounts of CM.com\u2019s financial liabilities are a reasonable approximation of their fair values, except for the convertible bonds as disclosed in note 18.
CM.com derecognizes a financial liability when its contractual obligations are discharged or cancelled, or expire. CM.com also derecognizes a financial liability when its terms are modified and the cash flows of the modified liability are substantially different, in which case a new financial liability based on the modified terms is recognized at fair value. On the derecognition of a financial liability, the difference between the carrying amount extinguished and the consideration paid (including any non-cash assets transferred or liabilities assumed) is recognized in profit or loss.
Financial assets and financial liabilities are offset and the net amount is reported in the consolidated statement of financial position if there is a currently enforceable legal right to offset the recognized amounts and there is an intention to settle simultaneously.
Although CM.com may hedge its exposure to financial instruments, CM.com does not apply hedge accounting and recognizes gains and losses on undesignated hedging instruments in profit or loss.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForDerecognitionOfFinancialInstrumentsExplanatory", "language": "en", "entity": "scheme:724500QDJRUMSPRDHW25", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "section-blocktag-i6384-2": { "value": "Financial assets and liabilities are initially recognized when CM.com becomes a party to the contractual provisions of the instrument.
The financial assets to which CM.com is a party include loans receivable, trade and other receivables, deposits, equity investments, cash and cash equivalents.
Financial assets are, at initial recognition measured at fair value plus, in the case of a financial asset not at fair value through profit or loss, transaction costs that are directly attributable to its acquisition. Except for trade receivables without a significant financing component, these are initially measured at the transaction price.
After initial recognition, financial assets are subsequently measured at amortized cost or fair value through profit or loss on the basis of both the entity\u2019s business model for managing financial assets and the contractual cash flow characteristics of the financial asset.
A financial asset is measured at amortized cost using the effective interest method if it meets both of the following conditions:
it is held within a business model whose objective is to hold assets to collect contractual cash flows; and
its contractual terms give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding.
Financial assets held for trading, such as equity investments, are valued at fair value through profit or loss.
Financial assets that are subsequently measured at amortized cost are reduced by impairments. See note 12 for the recognition of the provision for expected credit losses for all financial assets not measured at fair value through profit or loss. Calculation of interest income is done by using the effective interest method. Interest income, currency results, and impairments are recognized in profit or loss.
The carrying amounts of CM.com\u2019s financial assets are a reasonable approximation of their fair values.
CM.com derecognizes a financial asset when the contractual rights to the cash flows from the financial asset expire, or it transfers the rights to receive the contractual cash flows in a transaction in which substantially all of the risks and rewards of ownership of the financial asset are transferred, or in which CM.com neither transfers nor retains substantially all of the risks and rewards of ownership and it does not retain control of the financial asset. Any gain or loss from derecognition is recognized in profit or loss.
Financial liabilities to which CM.com is a party include, trade and other payables, long-term borrowings, lease liabilities, and convertible bonds.
Financial liabilities are initially recognized at fair value less, in the case of a financial liability not at fair value through profit or loss, transaction costs directly attributable to its issue.
All financial liabilities are classified as subsequently measured at amortized cost, except for contingent considerations in business acquisitions, which are subsequently measured at fair value with changes recognized through profit or loss. Any difference between the proceeds (net of transaction costs) and the redemption amount are recognized in profit or loss over the period of the borrowings using the effective interest method.
Lease liabilities are initially measured at the present value of the lease payments that are not paid at the commencement date, discounted using the interest rate implicit in the lease or, if that rate cannot be readily determined, CM.com\u2019s incremental borrowing rate. See note 12 for maturity analysis. Generally, CM.com uses its incremental borrowing rate as the discount rate. The lease liability is subsequently increased by the interest cost on the lease liability and decreased by lease payment made. It is remeasured when there is a change in future lease payments arising from a change in an index or rate, a change in the estimate of the amount expected to be payable under a residual value guarantee, or as appropriate, changes in the assessment of whether a purchase or extension option is reasonably certain to be exercised or a termination option is reasonably certain not to be exercised. The carrying amounts of CM.com\u2019s financial liabilities are a reasonable approximation of their fair values, except for the convertible bonds as disclosed in note 18.
CM.com derecognizes a financial liability when its contractual obligations are discharged or cancelled, or expire. CM.com also derecognizes a financial liability when its terms are modified and the cash flows of the modified liability are substantially different, in which case a new financial liability based on the modified terms is recognized at fair value. On the derecognition of a financial liability, the difference between the carrying amount extinguished and the consideration paid (including any non-cash assets transferred or liabilities assumed) is recognized in profit or loss.
Financial assets and financial liabilities are offset and the net amount is reported in the consolidated statement of financial position if there is a currently enforceable legal right to offset the recognized amounts and there is an intention to settle simultaneously.
Although CM.com may hedge its exposure to financial instruments, CM.com does not apply hedge accounting and recognizes gains and losses on undesignated hedging instruments in profit or loss.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialAssetsExplanatory", "language": "en", "entity": "scheme:724500QDJRUMSPRDHW25", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "section-blocktag-i6384-3": { "value": "Financial assets and liabilities are initially recognized when CM.com becomes a party to the contractual provisions of the instrument.
The financial assets to which CM.com is a party include loans receivable, trade and other receivables, deposits, equity investments, cash and cash equivalents.
Financial assets are, at initial recognition measured at fair value plus, in the case of a financial asset not at fair value through profit or loss, transaction costs that are directly attributable to its acquisition. Except for trade receivables without a significant financing component, these are initially measured at the transaction price.
After initial recognition, financial assets are subsequently measured at amortized cost or fair value through profit or loss on the basis of both the entity\u2019s business model for managing financial assets and the contractual cash flow characteristics of the financial asset.
A financial asset is measured at amortized cost using the effective interest method if it meets both of the following conditions:
it is held within a business model whose objective is to hold assets to collect contractual cash flows; and
its contractual terms give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding.
Financial assets held for trading, such as equity investments, are valued at fair value through profit or loss.
Financial assets that are subsequently measured at amortized cost are reduced by impairments. See note 12 for the recognition of the provision for expected credit losses for all financial assets not measured at fair value through profit or loss. Calculation of interest income is done by using the effective interest method. Interest income, currency results, and impairments are recognized in profit or loss.
The carrying amounts of CM.com\u2019s financial assets are a reasonable approximation of their fair values.
CM.com derecognizes a financial asset when the contractual rights to the cash flows from the financial asset expire, or it transfers the rights to receive the contractual cash flows in a transaction in which substantially all of the risks and rewards of ownership of the financial asset are transferred, or in which CM.com neither transfers nor retains substantially all of the risks and rewards of ownership and it does not retain control of the financial asset. Any gain or loss from derecognition is recognized in profit or loss.
Financial liabilities to which CM.com is a party include, trade and other payables, long-term borrowings, lease liabilities, and convertible bonds.
Financial liabilities are initially recognized at fair value less, in the case of a financial liability not at fair value through profit or loss, transaction costs directly attributable to its issue.
All financial liabilities are classified as subsequently measured at amortized cost, except for contingent considerations in business acquisitions, which are subsequently measured at fair value with changes recognized through profit or loss. Any difference between the proceeds (net of transaction costs) and the redemption amount are recognized in profit or loss over the period of the borrowings using the effective interest method.
Lease liabilities are initially measured at the present value of the lease payments that are not paid at the commencement date, discounted using the interest rate implicit in the lease or, if that rate cannot be readily determined, CM.com\u2019s incremental borrowing rate. See note 12 for maturity analysis. Generally, CM.com uses its incremental borrowing rate as the discount rate. The lease liability is subsequently increased by the interest cost on the lease liability and decreased by lease payment made. It is remeasured when there is a change in future lease payments arising from a change in an index or rate, a change in the estimate of the amount expected to be payable under a residual value guarantee, or as appropriate, changes in the assessment of whether a purchase or extension option is reasonably certain to be exercised or a termination option is reasonably certain not to be exercised. The carrying amounts of CM.com\u2019s financial liabilities are a reasonable approximation of their fair values, except for the convertible bonds as disclosed in note 18.
CM.com derecognizes a financial liability when its contractual obligations are discharged or cancelled, or expire. CM.com also derecognizes a financial liability when its terms are modified and the cash flows of the modified liability are substantially different, in which case a new financial liability based on the modified terms is recognized at fair value. On the derecognition of a financial liability, the difference between the carrying amount extinguished and the consideration paid (including any non-cash assets transferred or liabilities assumed) is recognized in profit or loss.
Financial assets and financial liabilities are offset and the net amount is reported in the consolidated statement of financial position if there is a currently enforceable legal right to offset the recognized amounts and there is an intention to settle simultaneously.
Although CM.com may hedge its exposure to financial instruments, CM.com does not apply hedge accounting and recognizes gains and losses on undesignated hedging instruments in profit or loss.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory", "language": "en", "entity": "scheme:724500QDJRUMSPRDHW25", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "section-blocktag-i6384-4": { "value": "Financial assets and liabilities are initially recognized when CM.com becomes a party to the contractual provisions of the instrument.
The financial assets to which CM.com is a party include loans receivable, trade and other receivables, deposits, equity investments, cash and cash equivalents.
Financial assets are, at initial recognition measured at fair value plus, in the case of a financial asset not at fair value through profit or loss, transaction costs that are directly attributable to its acquisition. Except for trade receivables without a significant financing component, these are initially measured at the transaction price.
After initial recognition, financial assets are subsequently measured at amortized cost or fair value through profit or loss on the basis of both the entity\u2019s business model for managing financial assets and the contractual cash flow characteristics of the financial asset.
A financial asset is measured at amortized cost using the effective interest method if it meets both of the following conditions:
it is held within a business model whose objective is to hold assets to collect contractual cash flows; and
its contractual terms give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding.
Financial assets held for trading, such as equity investments, are valued at fair value through profit or loss.
Financial assets that are subsequently measured at amortized cost are reduced by impairments. See note 12 for the recognition of the provision for expected credit losses for all financial assets not measured at fair value through profit or loss. Calculation of interest income is done by using the effective interest method. Interest income, currency results, and impairments are recognized in profit or loss.
The carrying amounts of CM.com\u2019s financial assets are a reasonable approximation of their fair values.
CM.com derecognizes a financial asset when the contractual rights to the cash flows from the financial asset expire, or it transfers the rights to receive the contractual cash flows in a transaction in which substantially all of the risks and rewards of ownership of the financial asset are transferred, or in which CM.com neither transfers nor retains substantially all of the risks and rewards of ownership and it does not retain control of the financial asset. Any gain or loss from derecognition is recognized in profit or loss.
Financial liabilities to which CM.com is a party include, trade and other payables, long-term borrowings, lease liabilities, and convertible bonds.
Financial liabilities are initially recognized at fair value less, in the case of a financial liability not at fair value through profit or loss, transaction costs directly attributable to its issue.
All financial liabilities are classified as subsequently measured at amortized cost, except for contingent considerations in business acquisitions, which are subsequently measured at fair value with changes recognized through profit or loss. Any difference between the proceeds (net of transaction costs) and the redemption amount are recognized in profit or loss over the period of the borrowings using the effective interest method.
Lease liabilities are initially measured at the present value of the lease payments that are not paid at the commencement date, discounted using the interest rate implicit in the lease or, if that rate cannot be readily determined, CM.com\u2019s incremental borrowing rate. See note 12 for maturity analysis. Generally, CM.com uses its incremental borrowing rate as the discount rate. The lease liability is subsequently increased by the interest cost on the lease liability and decreased by lease payment made. It is remeasured when there is a change in future lease payments arising from a change in an index or rate, a change in the estimate of the amount expected to be payable under a residual value guarantee, or as appropriate, changes in the assessment of whether a purchase or extension option is reasonably certain to be exercised or a termination option is reasonably certain not to be exercised. The carrying amounts of CM.com\u2019s financial liabilities are a reasonable approximation of their fair values, except for the convertible bonds as disclosed in note 18.
CM.com derecognizes a financial liability when its contractual obligations are discharged or cancelled, or expire. CM.com also derecognizes a financial liability when its terms are modified and the cash flows of the modified liability are substantially different, in which case a new financial liability based on the modified terms is recognized at fair value. On the derecognition of a financial liability, the difference between the carrying amount extinguished and the consideration paid (including any non-cash assets transferred or liabilities assumed) is recognized in profit or loss.
Financial assets and financial liabilities are offset and the net amount is reported in the consolidated statement of financial position if there is a currently enforceable legal right to offset the recognized amounts and there is an intention to settle simultaneously.
Although CM.com may hedge its exposure to financial instruments, CM.com does not apply hedge accounting and recognizes gains and losses on undesignated hedging instruments in profit or loss.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialInstrumentsAtFairValueThroughProfitOrLossExplanatory", "language": "en", "entity": "scheme:724500QDJRUMSPRDHW25", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "section-blocktag-i6384-5": { "value": "Financial assets and liabilities are initially recognized when CM.com becomes a party to the contractual provisions of the instrument.
The financial assets to which CM.com is a party include loans receivable, trade and other receivables, deposits, equity investments, cash and cash equivalents.
Financial assets are, at initial recognition measured at fair value plus, in the case of a financial asset not at fair value through profit or loss, transaction costs that are directly attributable to its acquisition. Except for trade receivables without a significant financing component, these are initially measured at the transaction price.
After initial recognition, financial assets are subsequently measured at amortized cost or fair value through profit or loss on the basis of both the entity\u2019s business model for managing financial assets and the contractual cash flow characteristics of the financial asset.
A financial asset is measured at amortized cost using the effective interest method if it meets both of the following conditions:
it is held within a business model whose objective is to hold assets to collect contractual cash flows; and
its contractual terms give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding.
Financial assets held for trading, such as equity investments, are valued at fair value through profit or loss.
Financial assets that are subsequently measured at amortized cost are reduced by impairments. See note 12 for the recognition of the provision for expected credit losses for all financial assets not measured at fair value through profit or loss. Calculation of interest income is done by using the effective interest method. Interest income, currency results, and impairments are recognized in profit or loss.
The carrying amounts of CM.com\u2019s financial assets are a reasonable approximation of their fair values.
CM.com derecognizes a financial asset when the contractual rights to the cash flows from the financial asset expire, or it transfers the rights to receive the contractual cash flows in a transaction in which substantially all of the risks and rewards of ownership of the financial asset are transferred, or in which CM.com neither transfers nor retains substantially all of the risks and rewards of ownership and it does not retain control of the financial asset. Any gain or loss from derecognition is recognized in profit or loss.
Financial liabilities to which CM.com is a party include, trade and other payables, long-term borrowings, lease liabilities, and convertible bonds.
Financial liabilities are initially recognized at fair value less, in the case of a financial liability not at fair value through profit or loss, transaction costs directly attributable to its issue.
All financial liabilities are classified as subsequently measured at amortized cost, except for contingent considerations in business acquisitions, which are subsequently measured at fair value with changes recognized through profit or loss. Any difference between the proceeds (net of transaction costs) and the redemption amount are recognized in profit or loss over the period of the borrowings using the effective interest method.
Lease liabilities are initially measured at the present value of the lease payments that are not paid at the commencement date, discounted using the interest rate implicit in the lease or, if that rate cannot be readily determined, CM.com\u2019s incremental borrowing rate. See note 12 for maturity analysis. Generally, CM.com uses its incremental borrowing rate as the discount rate. The lease liability is subsequently increased by the interest cost on the lease liability and decreased by lease payment made. It is remeasured when there is a change in future lease payments arising from a change in an index or rate, a change in the estimate of the amount expected to be payable under a residual value guarantee, or as appropriate, changes in the assessment of whether a purchase or extension option is reasonably certain to be exercised or a termination option is reasonably certain not to be exercised. The carrying amounts of CM.com\u2019s financial liabilities are a reasonable approximation of their fair values, except for the convertible bonds as disclosed in note 18.
CM.com derecognizes a financial liability when its contractual obligations are discharged or cancelled, or expire. CM.com also derecognizes a financial liability when its terms are modified and the cash flows of the modified liability are substantially different, in which case a new financial liability based on the modified terms is recognized at fair value. On the derecognition of a financial liability, the difference between the carrying amount extinguished and the consideration paid (including any non-cash assets transferred or liabilities assumed) is recognized in profit or loss.
Financial assets and financial liabilities are offset and the net amount is reported in the consolidated statement of financial position if there is a currently enforceable legal right to offset the recognized amounts and there is an intention to settle simultaneously.
Although CM.com may hedge its exposure to financial instruments, CM.com does not apply hedge accounting and recognizes gains and losses on undesignated hedging instruments in profit or loss.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialLiabilitiesExplanatory", "language": "en", "entity": "scheme:724500QDJRUMSPRDHW25", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "section-blocktag-i6384-6": { "value": "Financial assets and liabilities are initially recognized when CM.com becomes a party to the contractual provisions of the instrument.
The financial assets to which CM.com is a party include loans receivable, trade and other receivables, deposits, equity investments, cash and cash equivalents.
Financial assets are, at initial recognition measured at fair value plus, in the case of a financial asset not at fair value through profit or loss, transaction costs that are directly attributable to its acquisition. Except for trade receivables without a significant financing component, these are initially measured at the transaction price.
After initial recognition, financial assets are subsequently measured at amortized cost or fair value through profit or loss on the basis of both the entity\u2019s business model for managing financial assets and the contractual cash flow characteristics of the financial asset.
A financial asset is measured at amortized cost using the effective interest method if it meets both of the following conditions:
it is held within a business model whose objective is to hold assets to collect contractual cash flows; and
its contractual terms give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding.
Financial assets held for trading, such as equity investments, are valued at fair value through profit or loss.
Financial assets that are subsequently measured at amortized cost are reduced by impairments. See note 12 for the recognition of the provision for expected credit losses for all financial assets not measured at fair value through profit or loss. Calculation of interest income is done by using the effective interest method. Interest income, currency results, and impairments are recognized in profit or loss.
The carrying amounts of CM.com\u2019s financial assets are a reasonable approximation of their fair values.
CM.com derecognizes a financial asset when the contractual rights to the cash flows from the financial asset expire, or it transfers the rights to receive the contractual cash flows in a transaction in which substantially all of the risks and rewards of ownership of the financial asset are transferred, or in which CM.com neither transfers nor retains substantially all of the risks and rewards of ownership and it does not retain control of the financial asset. Any gain or loss from derecognition is recognized in profit or loss.
Financial liabilities to which CM.com is a party include, trade and other payables, long-term borrowings, lease liabilities, and convertible bonds.
Financial liabilities are initially recognized at fair value less, in the case of a financial liability not at fair value through profit or loss, transaction costs directly attributable to its issue.
All financial liabilities are classified as subsequently measured at amortized cost, except for contingent considerations in business acquisitions, which are subsequently measured at fair value with changes recognized through profit or loss. Any difference between the proceeds (net of transaction costs) and the redemption amount are recognized in profit or loss over the period of the borrowings using the effective interest method.
Lease liabilities are initially measured at the present value of the lease payments that are not paid at the commencement date, discounted using the interest rate implicit in the lease or, if that rate cannot be readily determined, CM.com\u2019s incremental borrowing rate. See note 12 for maturity analysis. Generally, CM.com uses its incremental borrowing rate as the discount rate. The lease liability is subsequently increased by the interest cost on the lease liability and decreased by lease payment made. It is remeasured when there is a change in future lease payments arising from a change in an index or rate, a change in the estimate of the amount expected to be payable under a residual value guarantee, or as appropriate, changes in the assessment of whether a purchase or extension option is reasonably certain to be exercised or a termination option is reasonably certain not to be exercised. The carrying amounts of CM.com\u2019s financial liabilities are a reasonable approximation of their fair values, except for the convertible bonds as disclosed in note 18.
CM.com derecognizes a financial liability when its contractual obligations are discharged or cancelled, or expire. CM.com also derecognizes a financial liability when its terms are modified and the cash flows of the modified liability are substantially different, in which case a new financial liability based on the modified terms is recognized at fair value. On the derecognition of a financial liability, the difference between the carrying amount extinguished and the consideration paid (including any non-cash assets transferred or liabilities assumed) is recognized in profit or loss.
Financial assets and financial liabilities are offset and the net amount is reported in the consolidated statement of financial position if there is a currently enforceable legal right to offset the recognized amounts and there is an intention to settle simultaneously.
Although CM.com may hedge its exposure to financial instruments, CM.com does not apply hedge accounting and recognizes gains and losses on undesignated hedging instruments in profit or loss.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForHedgingExplanatory", "language": "en", "entity": "scheme:724500QDJRUMSPRDHW25", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "section-blocktag-i6384-8": { "value": "Financial assets and liabilities are initially recognized when CM.com becomes a party to the contractual provisions of the instrument.
The financial assets to which CM.com is a party include loans receivable, trade and other receivables, deposits, equity investments, cash and cash equivalents.
Financial assets are, at initial recognition measured at fair value plus, in the case of a financial asset not at fair value through profit or loss, transaction costs that are directly attributable to its acquisition. Except for trade receivables without a significant financing component, these are initially measured at the transaction price.
After initial recognition, financial assets are subsequently measured at amortized cost or fair value through profit or loss on the basis of both the entity\u2019s business model for managing financial assets and the contractual cash flow characteristics of the financial asset.
A financial asset is measured at amortized cost using the effective interest method if it meets both of the following conditions:
it is held within a business model whose objective is to hold assets to collect contractual cash flows; and
its contractual terms give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding.
Financial assets held for trading, such as equity investments, are valued at fair value through profit or loss.
Financial assets that are subsequently measured at amortized cost are reduced by impairments. See note 12 for the recognition of the provision for expected credit losses for all financial assets not measured at fair value through profit or loss. Calculation of interest income is done by using the effective interest method. Interest income, currency results, and impairments are recognized in profit or loss.
The carrying amounts of CM.com\u2019s financial assets are a reasonable approximation of their fair values.
CM.com derecognizes a financial asset when the contractual rights to the cash flows from the financial asset expire, or it transfers the rights to receive the contractual cash flows in a transaction in which substantially all of the risks and rewards of ownership of the financial asset are transferred, or in which CM.com neither transfers nor retains substantially all of the risks and rewards of ownership and it does not retain control of the financial asset. Any gain or loss from derecognition is recognized in profit or loss.
Financial liabilities to which CM.com is a party include, trade and other payables, long-term borrowings, lease liabilities, and convertible bonds.
Financial liabilities are initially recognized at fair value less, in the case of a financial liability not at fair value through profit or loss, transaction costs directly attributable to its issue.
All financial liabilities are classified as subsequently measured at amortized cost, except for contingent considerations in business acquisitions, which are subsequently measured at fair value with changes recognized through profit or loss. Any difference between the proceeds (net of transaction costs) and the redemption amount are recognized in profit or loss over the period of the borrowings using the effective interest method.
Lease liabilities are initially measured at the present value of the lease payments that are not paid at the commencement date, discounted using the interest rate implicit in the lease or, if that rate cannot be readily determined, CM.com\u2019s incremental borrowing rate. See note 12 for maturity analysis. Generally, CM.com uses its incremental borrowing rate as the discount rate. The lease liability is subsequently increased by the interest cost on the lease liability and decreased by lease payment made. It is remeasured when there is a change in future lease payments arising from a change in an index or rate, a change in the estimate of the amount expected to be payable under a residual value guarantee, or as appropriate, changes in the assessment of whether a purchase or extension option is reasonably certain to be exercised or a termination option is reasonably certain not to be exercised. The carrying amounts of CM.com\u2019s financial liabilities are a reasonable approximation of their fair values, except for the convertible bonds as disclosed in note 18.
CM.com derecognizes a financial liability when its contractual obligations are discharged or cancelled, or expire. CM.com also derecognizes a financial liability when its terms are modified and the cash flows of the modified liability are substantially different, in which case a new financial liability based on the modified terms is recognized at fair value. On the derecognition of a financial liability, the difference between the carrying amount extinguished and the consideration paid (including any non-cash assets transferred or liabilities assumed) is recognized in profit or loss.
Financial assets and financial liabilities are offset and the net amount is reported in the consolidated statement of financial position if there is a currently enforceable legal right to offset the recognized amounts and there is an intention to settle simultaneously.
Although CM.com may hedge its exposure to financial instruments, CM.com does not apply hedge accounting and recognizes gains and losses on undesignated hedging instruments in profit or loss.
", "dimensions": { "concept": "ifrs-full:DisclosureOfFairValueOfFinancialInstrumentsExplanatory", "language": "en", "entity": "scheme:724500QDJRUMSPRDHW25", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "section-blocktag-i6384-9": { "value": "Financial assets and liabilities are initially recognized when CM.com becomes a party to the contractual provisions of the instrument.
The financial assets to which CM.com is a party include loans receivable, trade and other receivables, deposits, equity investments, cash and cash equivalents.
Financial assets are, at initial recognition measured at fair value plus, in the case of a financial asset not at fair value through profit or loss, transaction costs that are directly attributable to its acquisition. Except for trade receivables without a significant financing component, these are initially measured at the transaction price.
After initial recognition, financial assets are subsequently measured at amortized cost or fair value through profit or loss on the basis of both the entity\u2019s business model for managing financial assets and the contractual cash flow characteristics of the financial asset.
A financial asset is measured at amortized cost using the effective interest method if it meets both of the following conditions:
it is held within a business model whose objective is to hold assets to collect contractual cash flows; and
its contractual terms give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding.
Financial assets held for trading, such as equity investments, are valued at fair value through profit or loss.
Financial assets that are subsequently measured at amortized cost are reduced by impairments. See note 12 for the recognition of the provision for expected credit losses for all financial assets not measured at fair value through profit or loss. Calculation of interest income is done by using the effective interest method. Interest income, currency results, and impairments are recognized in profit or loss.
The carrying amounts of CM.com\u2019s financial assets are a reasonable approximation of their fair values.
CM.com derecognizes a financial asset when the contractual rights to the cash flows from the financial asset expire, or it transfers the rights to receive the contractual cash flows in a transaction in which substantially all of the risks and rewards of ownership of the financial asset are transferred, or in which CM.com neither transfers nor retains substantially all of the risks and rewards of ownership and it does not retain control of the financial asset. Any gain or loss from derecognition is recognized in profit or loss.
Financial liabilities to which CM.com is a party include, trade and other payables, long-term borrowings, lease liabilities, and convertible bonds.
Financial liabilities are initially recognized at fair value less, in the case of a financial liability not at fair value through profit or loss, transaction costs directly attributable to its issue.
All financial liabilities are classified as subsequently measured at amortized cost, except for contingent considerations in business acquisitions, which are subsequently measured at fair value with changes recognized through profit or loss. Any difference between the proceeds (net of transaction costs) and the redemption amount are recognized in profit or loss over the period of the borrowings using the effective interest method.
Lease liabilities are initially measured at the present value of the lease payments that are not paid at the commencement date, discounted using the interest rate implicit in the lease or, if that rate cannot be readily determined, CM.com\u2019s incremental borrowing rate. See note 12 for maturity analysis. Generally, CM.com uses its incremental borrowing rate as the discount rate. The lease liability is subsequently increased by the interest cost on the lease liability and decreased by lease payment made. It is remeasured when there is a change in future lease payments arising from a change in an index or rate, a change in the estimate of the amount expected to be payable under a residual value guarantee, or as appropriate, changes in the assessment of whether a purchase or extension option is reasonably certain to be exercised or a termination option is reasonably certain not to be exercised. The carrying amounts of CM.com\u2019s financial liabilities are a reasonable approximation of their fair values, except for the convertible bonds as disclosed in note 18.
CM.com derecognizes a financial liability when its contractual obligations are discharged or cancelled, or expire. CM.com also derecognizes a financial liability when its terms are modified and the cash flows of the modified liability are substantially different, in which case a new financial liability based on the modified terms is recognized at fair value. On the derecognition of a financial liability, the difference between the carrying amount extinguished and the consideration paid (including any non-cash assets transferred or liabilities assumed) is recognized in profit or loss.
Financial assets and financial liabilities are offset and the net amount is reported in the consolidated statement of financial position if there is a currently enforceable legal right to offset the recognized amounts and there is an intention to settle simultaneously.
Although CM.com may hedge its exposure to financial instruments, CM.com does not apply hedge accounting and recognizes gains and losses on undesignated hedging instruments in profit or loss.
", "dimensions": { "concept": "ifrs-full:DisclosureOfFinancialInstrumentsExplanatory", "language": "en", "entity": "scheme:724500QDJRUMSPRDHW25", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "section-blocktag-i6384-10": { "value": "Financial assets and liabilities are initially recognized when CM.com becomes a party to the contractual provisions of the instrument.
The financial assets to which CM.com is a party include loans receivable, trade and other receivables, deposits, equity investments, cash and cash equivalents.
Financial assets are, at initial recognition measured at fair value plus, in the case of a financial asset not at fair value through profit or loss, transaction costs that are directly attributable to its acquisition. Except for trade receivables without a significant financing component, these are initially measured at the transaction price.
After initial recognition, financial assets are subsequently measured at amortized cost or fair value through profit or loss on the basis of both the entity\u2019s business model for managing financial assets and the contractual cash flow characteristics of the financial asset.
A financial asset is measured at amortized cost using the effective interest method if it meets both of the following conditions:
it is held within a business model whose objective is to hold assets to collect contractual cash flows; and
its contractual terms give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding.
Financial assets held for trading, such as equity investments, are valued at fair value through profit or loss.
Financial assets that are subsequently measured at amortized cost are reduced by impairments. See note 12 for the recognition of the provision for expected credit losses for all financial assets not measured at fair value through profit or loss. Calculation of interest income is done by using the effective interest method. Interest income, currency results, and impairments are recognized in profit or loss.
The carrying amounts of CM.com\u2019s financial assets are a reasonable approximation of their fair values.
CM.com derecognizes a financial asset when the contractual rights to the cash flows from the financial asset expire, or it transfers the rights to receive the contractual cash flows in a transaction in which substantially all of the risks and rewards of ownership of the financial asset are transferred, or in which CM.com neither transfers nor retains substantially all of the risks and rewards of ownership and it does not retain control of the financial asset. Any gain or loss from derecognition is recognized in profit or loss.
Financial liabilities to which CM.com is a party include, trade and other payables, long-term borrowings, lease liabilities, and convertible bonds.
Financial liabilities are initially recognized at fair value less, in the case of a financial liability not at fair value through profit or loss, transaction costs directly attributable to its issue.
All financial liabilities are classified as subsequently measured at amortized cost, except for contingent considerations in business acquisitions, which are subsequently measured at fair value with changes recognized through profit or loss. Any difference between the proceeds (net of transaction costs) and the redemption amount are recognized in profit or loss over the period of the borrowings using the effective interest method.
Lease liabilities are initially measured at the present value of the lease payments that are not paid at the commencement date, discounted using the interest rate implicit in the lease or, if that rate cannot be readily determined, CM.com\u2019s incremental borrowing rate. See note 12 for maturity analysis. Generally, CM.com uses its incremental borrowing rate as the discount rate. The lease liability is subsequently increased by the interest cost on the lease liability and decreased by lease payment made. It is remeasured when there is a change in future lease payments arising from a change in an index or rate, a change in the estimate of the amount expected to be payable under a residual value guarantee, or as appropriate, changes in the assessment of whether a purchase or extension option is reasonably certain to be exercised or a termination option is reasonably certain not to be exercised. The carrying amounts of CM.com\u2019s financial liabilities are a reasonable approximation of their fair values, except for the convertible bonds as disclosed in note 18.
CM.com derecognizes a financial liability when its contractual obligations are discharged or cancelled, or expire. CM.com also derecognizes a financial liability when its terms are modified and the cash flows of the modified liability are substantially different, in which case a new financial liability based on the modified terms is recognized at fair value. On the derecognition of a financial liability, the difference between the carrying amount extinguished and the consideration paid (including any non-cash assets transferred or liabilities assumed) is recognized in profit or loss.
Financial assets and financial liabilities are offset and the net amount is reported in the consolidated statement of financial position if there is a currently enforceable legal right to offset the recognized amounts and there is an intention to settle simultaneously.
Although CM.com may hedge its exposure to financial instruments, CM.com does not apply hedge accounting and recognizes gains and losses on undesignated hedging instruments in profit or loss.
", "dimensions": { "concept": "ifrs-full:DisclosureOfFinancialInstrumentsAtFairValueThroughProfitOrLossExplanatory", "language": "en", "entity": "scheme:724500QDJRUMSPRDHW25", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "section-blocktag-i6384-11": { "value": "Financial assets and liabilities are initially recognized when CM.com becomes a party to the contractual provisions of the instrument.
The financial assets to which CM.com is a party include loans receivable, trade and other receivables, deposits, equity investments, cash and cash equivalents.
Financial assets are, at initial recognition measured at fair value plus, in the case of a financial asset not at fair value through profit or loss, transaction costs that are directly attributable to its acquisition. Except for trade receivables without a significant financing component, these are initially measured at the transaction price.
After initial recognition, financial assets are subsequently measured at amortized cost or fair value through profit or loss on the basis of both the entity\u2019s business model for managing financial assets and the contractual cash flow characteristics of the financial asset.
A financial asset is measured at amortized cost using the effective interest method if it meets both of the following conditions:
it is held within a business model whose objective is to hold assets to collect contractual cash flows; and
its contractual terms give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding.
Financial assets held for trading, such as equity investments, are valued at fair value through profit or loss.
Financial assets that are subsequently measured at amortized cost are reduced by impairments. See note 12 for the recognition of the provision for expected credit losses for all financial assets not measured at fair value through profit or loss. Calculation of interest income is done by using the effective interest method. Interest income, currency results, and impairments are recognized in profit or loss.
The carrying amounts of CM.com\u2019s financial assets are a reasonable approximation of their fair values.
CM.com derecognizes a financial asset when the contractual rights to the cash flows from the financial asset expire, or it transfers the rights to receive the contractual cash flows in a transaction in which substantially all of the risks and rewards of ownership of the financial asset are transferred, or in which CM.com neither transfers nor retains substantially all of the risks and rewards of ownership and it does not retain control of the financial asset. Any gain or loss from derecognition is recognized in profit or loss.
Financial liabilities to which CM.com is a party include, trade and other payables, long-term borrowings, lease liabilities, and convertible bonds.
Financial liabilities are initially recognized at fair value less, in the case of a financial liability not at fair value through profit or loss, transaction costs directly attributable to its issue.
All financial liabilities are classified as subsequently measured at amortized cost, except for contingent considerations in business acquisitions, which are subsequently measured at fair value with changes recognized through profit or loss. Any difference between the proceeds (net of transaction costs) and the redemption amount are recognized in profit or loss over the period of the borrowings using the effective interest method.
Lease liabilities are initially measured at the present value of the lease payments that are not paid at the commencement date, discounted using the interest rate implicit in the lease or, if that rate cannot be readily determined, CM.com\u2019s incremental borrowing rate. See note 12 for maturity analysis. Generally, CM.com uses its incremental borrowing rate as the discount rate. The lease liability is subsequently increased by the interest cost on the lease liability and decreased by lease payment made. It is remeasured when there is a change in future lease payments arising from a change in an index or rate, a change in the estimate of the amount expected to be payable under a residual value guarantee, or as appropriate, changes in the assessment of whether a purchase or extension option is reasonably certain to be exercised or a termination option is reasonably certain not to be exercised. The carrying amounts of CM.com\u2019s financial liabilities are a reasonable approximation of their fair values, except for the convertible bonds as disclosed in note 18.
CM.com derecognizes a financial liability when its contractual obligations are discharged or cancelled, or expire. CM.com also derecognizes a financial liability when its terms are modified and the cash flows of the modified liability are substantially different, in which case a new financial liability based on the modified terms is recognized at fair value. On the derecognition of a financial liability, the difference between the carrying amount extinguished and the consideration paid (including any non-cash assets transferred or liabilities assumed) is recognized in profit or loss.
Financial assets and financial liabilities are offset and the net amount is reported in the consolidated statement of financial position if there is a currently enforceable legal right to offset the recognized amounts and there is an intention to settle simultaneously.
Although CM.com may hedge its exposure to financial instruments, CM.com does not apply hedge accounting and recognizes gains and losses on undesignated hedging instruments in profit or loss.
", "dimensions": { "concept": "ifrs-full:DisclosureOfFinancialInstrumentsDesignatedAtFairValueThroughProfitOrLossExplanatory", "language": "en", "entity": "scheme:724500QDJRUMSPRDHW25", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "section-blocktag-i6385-1": { "value": "Long-term and loan receivables per the end of the reporting period consist of the following:
| x \u20ac\u00a01,000 | 2024 | 2023 |
|---|---|---|
| \u00a0 | \u00a0 | \u00a0 |
| \u00a0 | \u00a0 | \u00a0 |
| Deposits | 1,194 | 1,316 |
| Other receivables | 143 | 136 |
| Other participation | 60 | 60 |
| \u00a0 | 1,397 | 1,512 |
| \u00a0 | \u00a0 | \u00a0 |
| Short-term loan receivables | 4,786 | 596 |
| \u00a0 | 6,183 | 2,108 |
No impairments were recognized on long-term and loan receivables in 2024 and 2023. The other participation relates to an investment in 5% of the shares of Wireless Interactions & NFC Accelerator 2013 B.V.
A summary of the movements in long-term and loan receivables is provided:
| x \u20ac\u00a01,000 | 2024 | 2023 |
|---|---|---|
| \u00a0 | \u00a0 | \u00a0 |
| Carrying amount as at 1 January | 2,108 | 2,275 |
| \u00a0 | \u00a0 | \u00a0 |
| Movements: | \u00a0 | \u00a0 |
| Loans granted / advance payment | 6,505 | 222 |
| Repayment loans | (2,407) | (422) |
| Write off loans | (4) | (38) |
| Paid deposits | 168 | 568 |
| Refund deposits | (308) | (421) |
| Other movements | - | (55) |
| Currency difference | 121 | (21) |
| Carrying amount as at 31 December | 6,183 | 2,108 |
Long-term and loan receivables per the end of the reporting period consist of the following:
| x \u20ac\u00a01,000 | 2024 | 2023 |
|---|---|---|
| \u00a0 | \u00a0 | \u00a0 |
| \u00a0 | \u00a0 | \u00a0 |
| Deposits | 1,194 | 1,316 |
| Other receivables | 143 | 136 |
| Other participation | 60 | 60 |
| \u00a0 | 1,397 | 1,512 |
| \u00a0 | \u00a0 | \u00a0 |
| Short-term loan receivables | 4,786 | 596 |
| \u00a0 | 6,183 | 2,108 |
No impairments were recognized on long-term and loan receivables in 2024 and 2023. The other participation relates to an investment in 5% of the shares of Wireless Interactions & NFC Accelerator 2013 B.V.
A summary of the movements in long-term and loan receivables is provided:
| x \u20ac\u00a01,000 | 2024 | 2023 |
|---|---|---|
| \u00a0 | \u00a0 | \u00a0 |
| Carrying amount as at 1 January | 2,108 | 2,275 |
| \u00a0 | \u00a0 | \u00a0 |
| Movements: | \u00a0 | \u00a0 |
| Loans granted / advance payment | 6,505 | 222 |
| Repayment loans | (2,407) | (422) |
| Write off loans | (4) | (38) |
| Paid deposits | 168 | 568 |
| Refund deposits | (308) | (421) |
| Other movements | - | (55) |
| Currency difference | 121 | (21) |
| Carrying amount as at 31 December | 6,183 | 2,108 |
Long-term and loan receivables per the end of the reporting period consist of the following:
| x \u20ac\u00a01,000 | 2024 | 2023 |
|---|---|---|
| \u00a0 | \u00a0 | \u00a0 |
| \u00a0 | \u00a0 | \u00a0 |
| Deposits | 1,194 | 1,316 |
| Other receivables | 143 | 136 |
| Other participation | 60 | 60 |
| \u00a0 | 1,397 | 1,512 |
| \u00a0 | \u00a0 | \u00a0 |
| Short-term loan receivables | 4,786 | 596 |
| \u00a0 | 6,183 | 2,108 |
No impairments were recognized on long-term and loan receivables in 2024 and 2023. The other participation relates to an investment in 5% of the shares of Wireless Interactions & NFC Accelerator 2013 B.V.
A summary of the movements in long-term and loan receivables is provided:
| x \u20ac\u00a01,000 | 2024 | 2023 |
|---|---|---|
| \u00a0 | \u00a0 | \u00a0 |
| Carrying amount as at 1 January | 2,108 | 2,275 |
| \u00a0 | \u00a0 | \u00a0 |
| Movements: | \u00a0 | \u00a0 |
| Loans granted / advance payment | 6,505 | 222 |
| Repayment loans | (2,407) | (422) |
| Write off loans | (4) | (38) |
| Paid deposits | 168 | 568 |
| Refund deposits | (308) | (421) |
| Other movements | - | (55) |
| Currency difference | 121 | (21) |
| Carrying amount as at 31 December | 6,183 | 2,108 |
Trade and other receivables per the end of the reporting period consist of the following:
| x \u20ac\u00a01,000 | 2024 | 2023 |
|---|---|---|
| \u00a0 | \u00a0 | \u00a0 |
| \u00a0 | \u00a0 | \u00a0 |
| Trade receivables | 29,024 | 24,275 |
| Accrued revenue | 20,667 | 18,623 |
| Prepayments | 1,767 | 1,747 |
| Receivables from merchants and financial institutions | 6,292 | 3,801 |
| VAT and payroll tax receivables | 744 | 882 |
| Other receivables | 801 | 1,661 |
| \u00a0 | 59,295 | 50,989 |
Trade and other receivables do not include any receivables that are payable later than 12 months after the balance sheet date. A provision for expected credit losses is recognized amounting to \u20ac\u00a02,681 thousand (2023: \u20ac\u00a02,087 thousand) and netted with the trade receivables balance. CM.com\u2019s exposure to credit risk and sensitivity analysis for financial assets and liabilities are disclosed in note 12.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForTradeAndOtherReceivablesExplanatory", "language": "en", "entity": "scheme:724500QDJRUMSPRDHW25", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "section-blocktag-i6486-2": { "value": "Trade and other receivables per the end of the reporting period consist of the following:
| x \u20ac\u00a01,000 | 2024 | 2023 |
|---|---|---|
| \u00a0 | \u00a0 | \u00a0 |
| \u00a0 | \u00a0 | \u00a0 |
| Trade receivables | 29,024 | 24,275 |
| Accrued revenue | 20,667 | 18,623 |
| Prepayments | 1,767 | 1,747 |
| Receivables from merchants and financial institutions | 6,292 | 3,801 |
| VAT and payroll tax receivables | 744 | 882 |
| Other receivables | 801 | 1,661 |
| \u00a0 | 59,295 | 50,989 |
Trade and other receivables do not include any receivables that are payable later than 12 months after the balance sheet date. A provision for expected credit losses is recognized amounting to \u20ac\u00a02,681 thousand (2023: \u20ac\u00a02,087 thousand) and netted with the trade receivables balance. CM.com\u2019s exposure to credit risk and sensitivity analysis for financial assets and liabilities are disclosed in note 12.
", "dimensions": { "concept": "ifrs-full:DisclosureOfAllowanceForCreditLossesExplanatory", "language": "en", "entity": "scheme:724500QDJRUMSPRDHW25", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "section-blocktag-i6486-3": { "value": "Trade and other receivables per the end of the reporting period consist of the following:
| x \u20ac\u00a01,000 | 2024 | 2023 |
|---|---|---|
| \u00a0 | \u00a0 | \u00a0 |
| \u00a0 | \u00a0 | \u00a0 |
| Trade receivables | 29,024 | 24,275 |
| Accrued revenue | 20,667 | 18,623 |
| Prepayments | 1,767 | 1,747 |
| Receivables from merchants and financial institutions | 6,292 | 3,801 |
| VAT and payroll tax receivables | 744 | 882 |
| Other receivables | 801 | 1,661 |
| \u00a0 | 59,295 | 50,989 |
Trade and other receivables do not include any receivables that are payable later than 12 months after the balance sheet date. A provision for expected credit losses is recognized amounting to \u20ac\u00a02,681 thousand (2023: \u20ac\u00a02,087 thousand) and netted with the trade receivables balance. CM.com\u2019s exposure to credit risk and sensitivity analysis for financial assets and liabilities are disclosed in note 12.
", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherAssetsExplanatory", "language": "en", "entity": "scheme:724500QDJRUMSPRDHW25", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "section-blocktag-i6486-4": { "value": "Trade and other receivables per the end of the reporting period consist of the following:
| x \u20ac\u00a01,000 | 2024 | 2023 |
|---|---|---|
| \u00a0 | \u00a0 | \u00a0 |
| \u00a0 | \u00a0 | \u00a0 |
| Trade receivables | 29,024 | 24,275 |
| Accrued revenue | 20,667 | 18,623 |
| Prepayments | 1,767 | 1,747 |
| Receivables from merchants and financial institutions | 6,292 | 3,801 |
| VAT and payroll tax receivables | 744 | 882 |
| Other receivables | 801 | 1,661 |
| \u00a0 | 59,295 | 50,989 |
Trade and other receivables do not include any receivables that are payable later than 12 months after the balance sheet date. A provision for expected credit losses is recognized amounting to \u20ac\u00a02,681 thousand (2023: \u20ac\u00a02,087 thousand) and netted with the trade receivables balance. CM.com\u2019s exposure to credit risk and sensitivity analysis for financial assets and liabilities are disclosed in note 12.
", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherCurrentAssetsExplanatory", "language": "en", "entity": "scheme:724500QDJRUMSPRDHW25", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "section-blocktag-i6486-5": { "value": "Trade and other receivables per the end of the reporting period consist of the following:
| x \u20ac\u00a01,000 | 2024 | 2023 |
|---|---|---|
| \u00a0 | \u00a0 | \u00a0 |
| \u00a0 | \u00a0 | \u00a0 |
| Trade receivables | 29,024 | 24,275 |
| Accrued revenue | 20,667 | 18,623 |
| Prepayments | 1,767 | 1,747 |
| Receivables from merchants and financial institutions | 6,292 | 3,801 |
| VAT and payroll tax receivables | 744 | 882 |
| Other receivables | 801 | 1,661 |
| \u00a0 | 59,295 | 50,989 |
Trade and other receivables do not include any receivables that are payable later than 12 months after the balance sheet date. A provision for expected credit losses is recognized amounting to \u20ac\u00a02,681 thousand (2023: \u20ac\u00a02,087 thousand) and netted with the trade receivables balance. CM.com\u2019s exposure to credit risk and sensitivity analysis for financial assets and liabilities are disclosed in note 12.
", "dimensions": { "concept": "ifrs-full:DisclosureOfPrepaymentsAndOtherAssetsExplanatory", "language": "en", "entity": "scheme:724500QDJRUMSPRDHW25", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "section-blocktag-i6486-6": { "value": "Trade and other receivables per the end of the reporting period consist of the following:
| x \u20ac\u00a01,000 | 2024 | 2023 |
|---|---|---|
| \u00a0 | \u00a0 | \u00a0 |
| \u00a0 | \u00a0 | \u00a0 |
| Trade receivables | 29,024 | 24,275 |
| Accrued revenue | 20,667 | 18,623 |
| Prepayments | 1,767 | 1,747 |
| Receivables from merchants and financial institutions | 6,292 | 3,801 |
| VAT and payroll tax receivables | 744 | 882 |
| Other receivables | 801 | 1,661 |
| \u00a0 | 59,295 | 50,989 |
Trade and other receivables do not include any receivables that are payable later than 12 months after the balance sheet date. A provision for expected credit losses is recognized amounting to \u20ac\u00a02,681 thousand (2023: \u20ac\u00a02,087 thousand) and netted with the trade receivables balance. CM.com\u2019s exposure to credit risk and sensitivity analysis for financial assets and liabilities are disclosed in note 12.
", "dimensions": { "concept": "ifrs-full:DisclosureOfTradeAndOtherReceivablesExplanatory", "language": "en", "entity": "scheme:724500QDJRUMSPRDHW25", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "section-blocktag-i6531-1": { "value": "Cash and cash equivalents at the end of the reporting period consist of the following:
| x \u20ac\u00a01,000 | 2024 | 2023 |
|---|---|---|
| \u00a0 | \u00a0 | \u00a0 |
| \u00a0 | \u00a0 | \u00a0 |
| Cash at bank | 18,055 | 26,220 |
| Cash at bank restricted | 20,345 | 22,379 |
| \u00a0 | 38,400 | 48,599 |
Cash and cash equivalents comprise of cash at bank and on-hand.
Cash at bank restricted is mainly related to the foundation's activities and to be settled with merchants of Pay and Live clients. Considering that the company cannot use these balances for its own activities, they are recorded as restricted cash. The remaining balances are related to bank guarantees, as disclosed in note 26. All other cash and cash equivalents are available for immediate use by the company.
", "dimensions": { "concept": "ifrs-full:DisclosureOfCashAndCashEquivalentsExplanatory", "language": "en", "entity": "scheme:724500QDJRUMSPRDHW25", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "section-blocktag-i6531-2": { "value": "Cash and cash equivalents at the end of the reporting period consist of the following:
| x \u20ac\u00a01,000 | 2024 | 2023 |
|---|---|---|
| \u00a0 | \u00a0 | \u00a0 |
| \u00a0 | \u00a0 | \u00a0 |
| Cash at bank | 18,055 | 26,220 |
| Cash at bank restricted | 20,345 | 22,379 |
| \u00a0 | 38,400 | 48,599 |
Cash and cash equivalents comprise of cash at bank and on-hand.
Cash at bank restricted is mainly related to the foundation's activities and to be settled with merchants of Pay and Live clients. Considering that the company cannot use these balances for its own activities, they are recorded as restricted cash. The remaining balances are related to bank guarantees, as disclosed in note 26. All other cash and cash equivalents are available for immediate use by the company.
", "dimensions": { "concept": "ifrs-full:DisclosureOfRestrictedCashAndCashEquivalentsExplanatory", "language": "en", "entity": "scheme:724500QDJRUMSPRDHW25", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "section-blocktag-i6531-3": { "value": "Cash and cash equivalents at the end of the reporting period consist of the following:
| x \u20ac\u00a01,000 | 2024 | 2023 |
|---|---|---|
| \u00a0 | \u00a0 | \u00a0 |
| \u00a0 | \u00a0 | \u00a0 |
| Cash at bank | 18,055 | 26,220 |
| Cash at bank restricted | 20,345 | 22,379 |
| \u00a0 | 38,400 | 48,599 |
Cash and cash equivalents comprise of cash at bank and on-hand.
Cash at bank restricted is mainly related to the foundation's activities and to be settled with merchants of Pay and Live clients. Considering that the company cannot use these balances for its own activities, they are recorded as restricted cash. The remaining balances are related to bank guarantees, as disclosed in note 26. All other cash and cash equivalents are available for immediate use by the company.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForRestrictedCashAndCashEquivalentsExplanatory", "language": "en", "entity": "scheme:724500QDJRUMSPRDHW25", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "section-blocktag-i6531-4": { "value": "Cash and cash equivalents at the end of the reporting period consist of the following:
| x \u20ac\u00a01,000 | 2024 | 2023 |
|---|---|---|
| \u00a0 | \u00a0 | \u00a0 |
| \u00a0 | \u00a0 | \u00a0 |
| Cash at bank | 18,055 | 26,220 |
| Cash at bank restricted | 20,345 | 22,379 |
| \u00a0 | 38,400 | 48,599 |
Cash and cash equivalents comprise of cash at bank and on-hand.
Cash at bank restricted is mainly related to the foundation's activities and to be settled with merchants of Pay and Live clients. Considering that the company cannot use these balances for its own activities, they are recorded as restricted cash. The remaining balances are related to bank guarantees, as disclosed in note 26. All other cash and cash equivalents are available for immediate use by the company.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyToDetermineComponentsOfCashAndCashEquivalents", "language": "en", "entity": "scheme:724500QDJRUMSPRDHW25", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "section-blocktag-i6560-1": { "value": "Borrowings per the end of the reporting period consist of the following:
| x \u20ac\u00a01,000 | 2024 | 2023 |
|---|---|---|
| \u00a0 | \u00a0 | \u00a0 |
| \u00a0 | \u00a0 | \u00a0 |
| Lease liability | 15,494 | 17,521 |
| Tax debt | 785 | 1,053 |
| \u00a0 | 16,279 | 18,574 |
| Current portion of borrowings | 3,032 | 4,000 |
| \u00a0 | 13,247 | 14,574 |
A summary of the movements in borrowings is provided:
| x \u20ac\u00a01,000 | 2024 | 2023 |
|---|---|---|
| \u00a0 | \u00a0 | \u00a0 |
| Carrying amount as at 1 January | 18,574 | 24,762 |
| \u00a0 | \u00a0 | \u00a0 |
| Movements: | \u00a0 | \u00a0 |
| Increase in lease liability | 2,078 | 1,367 |
| Redemptions of bank loans | - | (20) |
| Redemptions of tax debt | (268) | (260) |
| Redemptions of lease liability | (3,989) | (7,429) |
| Reclassification of tax debt | - | 260 |
| Ending of lease liability | (129) | (85) |
| Currency difference | 13 | (21) |
| Carrying amount as at 31 December | 16,279 | 18,574 |
Borrowings per the end of the reporting period consist of the following:
| x \u20ac\u00a01,000 | 2024 | 2023 |
|---|---|---|
| \u00a0 | \u00a0 | \u00a0 |
| \u00a0 | \u00a0 | \u00a0 |
| Lease liability | 15,494 | 17,521 |
| Tax debt | 785 | 1,053 |
| \u00a0 | 16,279 | 18,574 |
| Current portion of borrowings | 3,032 | 4,000 |
| \u00a0 | 13,247 | 14,574 |
A summary of the movements in borrowings is provided:
| x \u20ac\u00a01,000 | 2024 | 2023 |
|---|---|---|
| \u00a0 | \u00a0 | \u00a0 |
| Carrying amount as at 1 January | 18,574 | 24,762 |
| \u00a0 | \u00a0 | \u00a0 |
| Movements: | \u00a0 | \u00a0 |
| Increase in lease liability | 2,078 | 1,367 |
| Redemptions of bank loans | - | (20) |
| Redemptions of tax debt | (268) | (260) |
| Redemptions of lease liability | (3,989) | (7,429) |
| Reclassification of tax debt | - | 260 |
| Ending of lease liability | (129) | (85) |
| Currency difference | 13 | (21) |
| Carrying amount as at 31 December | 16,279 | 18,574 |
On 9 September 2021, CM.com issued convertible bonds due September 2026 at 100% of their nominal value in an aggregate principal amount of \u20ac\u00a0100 million. The convertible bonds have an interest rate of 2% payable semi-annually in arrears in equal installments on 9 March and 9 September each year, commencing first on 9 March 2022. The convertible bonds have a maturity of five years and a denomination of \u20ac\u00a0100 thousand each. The bonds are convertible into ordinary shares at the option of the bondholders during the conversion period ending on the earlier of seven business days prior to the maturity date or any relevant redemption date. The initial conversion price was set at \u20ac\u00a053.30 (30% premium over the reference share price).
CM.com has the option to redeem all, but not some, of the bonds for the time being outstanding at their principal amount together with accrued interest, at any time from 24 September 2024, provided that the volume weighted average price of a share on Euronext Amsterdam shall have exceeded 130% of the conversion price on each of not less than 20 trading days in any period of 30 consecutive trading days. Any outstanding bonds are also redeemable at any time after the settlement date if at least 85% of the issued bonds have been converted, settled, or redeemed.
The initial expire date of the convertible bonds is September 2026. On 12 February, 2025, the company established a facility agreement with 3 banks for an amount of \u20ac\u00a080 million and raised \u20ac\u00a020 million capital to redeem the convertible bonds. The buy-back was executed on March 6, 2025, upon approval of the bondholders meeting, for an amount of \u20ac\u00a087 million. Reference is made to note 33 subsequent events for more information.
The net proceeds received from the issue of the convertible loan notes have been split between a financial liability element and an equity component, representing the fair value of the embedded option to convert the financial liability into equity of CM.com. The difference between the net proceeds received from the issue of the convertible loan notes and the fair value of the related financial liability have been recorded as an equity component.
The movement of the financial liability is as follows:
| x \u20ac\u00a01,000 | 2024 | 2023 |
|---|---|---|
| \u00a0 | \u00a0 | \u00a0 |
| Carrying amount of liability component at 1 January | 95,922 | 94,262 |
| Interest charged (using effective interest rate) | 1,708 | 1,660 |
| Carrying amount of liability component at 31 December | 97,630 | 95,922 |
The equity component (net of tax) of \u20ac\u00a05,517 thousand (2023: \u20ac\u00a05,738 thousand) is credited to the option premium within the convertible bonds reserve. Upon issuance, a deferred tax liability recognized through equity of \u20ac\u00a01,698 thousand was recognized, offset by a related deferred tax asset recognized through equity of \u20ac\u00a01,113 thousand. In 2024, the movement in the equity component (net of tax) was \u20ac\u00a0221 thousand (2023 \u20ac\u00a0202 thousand), see note 10.
The interest expense for the year is calculated by applying an effective interest rate of 3,55% to the liability component for the 12-month period. The yield is based on a CCC+ credit rating assigned by Wiserfunding. CapitalIQ is consulted on the yields of 5-year bonds rated B or CCC, with 29 US companies underlying the CCC yield curve. Subsequently, the CCC+ interest rate is calculated through exponential interpolation.
The liability component is measured at amortized cost. The difference between the carrying amount of the liability component at the date of issue and the amount reported in the reporting on 31 December 2024 represents the effective interest rate less interest paid to that date.
The market price on 31 December 2024 at Boerse Frankfurt is 65.70% of the nominal value (2023: 60.70%).
", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherNoncurrentLiabilitiesExplanatory", "language": "en", "entity": "scheme:724500QDJRUMSPRDHW25", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "section-blocktag-i6560-3": { "value": "Borrowings per the end of the reporting period consist of the following:
| x \u20ac\u00a01,000 | 2024 | 2023 |
|---|---|---|
| \u00a0 | \u00a0 | \u00a0 |
| \u00a0 | \u00a0 | \u00a0 |
| Lease liability | 15,494 | 17,521 |
| Tax debt | 785 | 1,053 |
| \u00a0 | 16,279 | 18,574 |
| Current portion of borrowings | 3,032 | 4,000 |
| \u00a0 | 13,247 | 14,574 |
A summary of the movements in borrowings is provided:
| x \u20ac\u00a01,000 | 2024 | 2023 |
|---|---|---|
| \u00a0 | \u00a0 | \u00a0 |
| Carrying amount as at 1 January | 18,574 | 24,762 |
| \u00a0 | \u00a0 | \u00a0 |
| Movements: | \u00a0 | \u00a0 |
| Increase in lease liability | 2,078 | 1,367 |
| Redemptions of bank loans | - | (20) |
| Redemptions of tax debt | (268) | (260) |
| Redemptions of lease liability | (3,989) | (7,429) |
| Reclassification of tax debt | - | 260 |
| Ending of lease liability | (129) | (85) |
| Currency difference | 13 | (21) |
| Carrying amount as at 31 December | 16,279 | 18,574 |
On 9 September 2021, CM.com issued convertible bonds due September 2026 at 100% of their nominal value in an aggregate principal amount of \u20ac\u00a0100 million. The convertible bonds have an interest rate of 2% payable semi-annually in arrears in equal installments on 9 March and 9 September each year, commencing first on 9 March 2022. The convertible bonds have a maturity of five years and a denomination of \u20ac\u00a0100 thousand each. The bonds are convertible into ordinary shares at the option of the bondholders during the conversion period ending on the earlier of seven business days prior to the maturity date or any relevant redemption date. The initial conversion price was set at \u20ac\u00a053.30 (30% premium over the reference share price).
CM.com has the option to redeem all, but not some, of the bonds for the time being outstanding at their principal amount together with accrued interest, at any time from 24 September 2024, provided that the volume weighted average price of a share on Euronext Amsterdam shall have exceeded 130% of the conversion price on each of not less than 20 trading days in any period of 30 consecutive trading days. Any outstanding bonds are also redeemable at any time after the settlement date if at least 85% of the issued bonds have been converted, settled, or redeemed.
The initial expire date of the convertible bonds is September 2026. On 12 February, 2025, the company established a facility agreement with 3 banks for an amount of \u20ac\u00a080 million and raised \u20ac\u00a020 million capital to redeem the convertible bonds. The buy-back was executed on March 6, 2025, upon approval of the bondholders meeting, for an amount of \u20ac\u00a087 million. Reference is made to note 33 subsequent events for more information.
The net proceeds received from the issue of the convertible loan notes have been split between a financial liability element and an equity component, representing the fair value of the embedded option to convert the financial liability into equity of CM.com. The difference between the net proceeds received from the issue of the convertible loan notes and the fair value of the related financial liability have been recorded as an equity component.
The movement of the financial liability is as follows:
| x \u20ac\u00a01,000 | 2024 | 2023 |
|---|---|---|
| \u00a0 | \u00a0 | \u00a0 |
| Carrying amount of liability component at 1 January | 95,922 | 94,262 |
| Interest charged (using effective interest rate) | 1,708 | 1,660 |
| Carrying amount of liability component at 31 December | 97,630 | 95,922 |
The equity component (net of tax) of \u20ac\u00a05,517 thousand (2023: \u20ac\u00a05,738 thousand) is credited to the option premium within the convertible bonds reserve. Upon issuance, a deferred tax liability recognized through equity of \u20ac\u00a01,698 thousand was recognized, offset by a related deferred tax asset recognized through equity of \u20ac\u00a01,113 thousand. In 2024, the movement in the equity component (net of tax) was \u20ac\u00a0221 thousand (2023 \u20ac\u00a0202 thousand), see note 10.
The interest expense for the year is calculated by applying an effective interest rate of 3,55% to the liability component for the 12-month period. The yield is based on a CCC+ credit rating assigned by Wiserfunding. CapitalIQ is consulted on the yields of 5-year bonds rated B or CCC, with 29 US companies underlying the CCC yield curve. Subsequently, the CCC+ interest rate is calculated through exponential interpolation.
The liability component is measured at amortized cost. The difference between the carrying amount of the liability component at the date of issue and the amount reported in the reporting on 31 December 2024 represents the effective interest rate less interest paid to that date.
The market price on 31 December 2024 at Boerse Frankfurt is 65.70% of the nominal value (2023: 60.70%).
", "dimensions": { "concept": "ifrs-full:DisclosureOfBorrowingsExplanatory", "language": "en", "entity": "scheme:724500QDJRUMSPRDHW25", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "section-blocktag-i6560-4": { "value": "Borrowings per the end of the reporting period consist of the following:
| x \u20ac\u00a01,000 | 2024 | 2023 |
|---|---|---|
| \u00a0 | \u00a0 | \u00a0 |
| \u00a0 | \u00a0 | \u00a0 |
| Lease liability | 15,494 | 17,521 |
| Tax debt | 785 | 1,053 |
| \u00a0 | 16,279 | 18,574 |
| Current portion of borrowings | 3,032 | 4,000 |
| \u00a0 | 13,247 | 14,574 |
A summary of the movements in borrowings is provided:
| x \u20ac\u00a01,000 | 2024 | 2023 |
|---|---|---|
| \u00a0 | \u00a0 | \u00a0 |
| Carrying amount as at 1 January | 18,574 | 24,762 |
| \u00a0 | \u00a0 | \u00a0 |
| Movements: | \u00a0 | \u00a0 |
| Increase in lease liability | 2,078 | 1,367 |
| Redemptions of bank loans | - | (20) |
| Redemptions of tax debt | (268) | (260) |
| Redemptions of lease liability | (3,989) | (7,429) |
| Reclassification of tax debt | - | 260 |
| Ending of lease liability | (129) | (85) |
| Currency difference | 13 | (21) |
| Carrying amount as at 31 December | 16,279 | 18,574 |
On 9 September 2021, CM.com issued convertible bonds due September 2026 at 100% of their nominal value in an aggregate principal amount of \u20ac\u00a0100 million. The convertible bonds have an interest rate of 2% payable semi-annually in arrears in equal installments on 9 March and 9 September each year, commencing first on 9 March 2022. The convertible bonds have a maturity of five years and a denomination of \u20ac\u00a0100 thousand each. The bonds are convertible into ordinary shares at the option of the bondholders during the conversion period ending on the earlier of seven business days prior to the maturity date or any relevant redemption date. The initial conversion price was set at \u20ac\u00a053.30 (30% premium over the reference share price).
CM.com has the option to redeem all, but not some, of the bonds for the time being outstanding at their principal amount together with accrued interest, at any time from 24 September 2024, provided that the volume weighted average price of a share on Euronext Amsterdam shall have exceeded 130% of the conversion price on each of not less than 20 trading days in any period of 30 consecutive trading days. Any outstanding bonds are also redeemable at any time after the settlement date if at least 85% of the issued bonds have been converted, settled, or redeemed.
The initial expire date of the convertible bonds is September 2026. On 12 February, 2025, the company established a facility agreement with 3 banks for an amount of \u20ac\u00a080 million and raised \u20ac\u00a020 million capital to redeem the convertible bonds. The buy-back was executed on March 6, 2025, upon approval of the bondholders meeting, for an amount of \u20ac\u00a087 million. Reference is made to note 33 subsequent events for more information.
The net proceeds received from the issue of the convertible loan notes have been split between a financial liability element and an equity component, representing the fair value of the embedded option to convert the financial liability into equity of CM.com. The difference between the net proceeds received from the issue of the convertible loan notes and the fair value of the related financial liability have been recorded as an equity component.
The movement of the financial liability is as follows:
| x \u20ac\u00a01,000 | 2024 | 2023 |
|---|---|---|
| \u00a0 | \u00a0 | \u00a0 |
| Carrying amount of liability component at 1 January | 95,922 | 94,262 |
| Interest charged (using effective interest rate) | 1,708 | 1,660 |
| Carrying amount of liability component at 31 December | 97,630 | 95,922 |
The equity component (net of tax) of \u20ac\u00a05,517 thousand (2023: \u20ac\u00a05,738 thousand) is credited to the option premium within the convertible bonds reserve. Upon issuance, a deferred tax liability recognized through equity of \u20ac\u00a01,698 thousand was recognized, offset by a related deferred tax asset recognized through equity of \u20ac\u00a01,113 thousand. In 2024, the movement in the equity component (net of tax) was \u20ac\u00a0221 thousand (2023 \u20ac\u00a0202 thousand), see note 10.
The interest expense for the year is calculated by applying an effective interest rate of 3,55% to the liability component for the 12-month period. The yield is based on a CCC+ credit rating assigned by Wiserfunding. CapitalIQ is consulted on the yields of 5-year bonds rated B or CCC, with 29 US companies underlying the CCC yield curve. Subsequently, the CCC+ interest rate is calculated through exponential interpolation.
The liability component is measured at amortized cost. The difference between the carrying amount of the liability component at the date of issue and the amount reported in the reporting on 31 December 2024 represents the effective interest rate less interest paid to that date.
The market price on 31 December 2024 at Boerse Frankfurt is 65.70% of the nominal value (2023: 60.70%).
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForBorrowingCostsExplanatory", "language": "en", "entity": "scheme:724500QDJRUMSPRDHW25", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "section-blocktag-i6653-3": { "value": "On 9 September 2021, CM.com issued convertible bonds due September 2026 at 100% of their nominal value in an aggregate principal amount of \u20ac\u00a0100 million. The convertible bonds have an interest rate of 2% payable semi-annually in arrears in equal installments on 9 March and 9 September each year, commencing first on 9 March 2022. The convertible bonds have a maturity of five years and a denomination of \u20ac\u00a0100 thousand each. The bonds are convertible into ordinary shares at the option of the bondholders during the conversion period ending on the earlier of seven business days prior to the maturity date or any relevant redemption date. The initial conversion price was set at \u20ac\u00a053.30 (30% premium over the reference share price).
CM.com has the option to redeem all, but not some, of the bonds for the time being outstanding at their principal amount together with accrued interest, at any time from 24 September 2024, provided that the volume weighted average price of a share on Euronext Amsterdam shall have exceeded 130% of the conversion price on each of not less than 20 trading days in any period of 30 consecutive trading days. Any outstanding bonds are also redeemable at any time after the settlement date if at least 85% of the issued bonds have been converted, settled, or redeemed.
The initial expire date of the convertible bonds is September 2026. On 12 February, 2025, the company established a facility agreement with 3 banks for an amount of \u20ac\u00a080 million and raised \u20ac\u00a020 million capital to redeem the convertible bonds. The buy-back was executed on March 6, 2025, upon approval of the bondholders meeting, for an amount of \u20ac\u00a087 million. Reference is made to note 33 subsequent events for more information.
The net proceeds received from the issue of the convertible loan notes have been split between a financial liability element and an equity component, representing the fair value of the embedded option to convert the financial liability into equity of CM.com. The difference between the net proceeds received from the issue of the convertible loan notes and the fair value of the related financial liability have been recorded as an equity component.
The movement of the financial liability is as follows:
| x \u20ac\u00a01,000 | 2024 | 2023 |
|---|---|---|
| \u00a0 | \u00a0 | \u00a0 |
| Carrying amount of liability component at 1 January | 95,922 | 94,262 |
| Interest charged (using effective interest rate) | 1,708 | 1,660 |
| Carrying amount of liability component at 31 December | 97,630 | 95,922 |
The equity component (net of tax) of \u20ac\u00a05,517 thousand (2023: \u20ac\u00a05,738 thousand) is credited to the option premium within the convertible bonds reserve. Upon issuance, a deferred tax liability recognized through equity of \u20ac\u00a01,698 thousand was recognized, offset by a related deferred tax asset recognized through equity of \u20ac\u00a01,113 thousand. In 2024, the movement in the equity component (net of tax) was \u20ac\u00a0221 thousand (2023 \u20ac\u00a0202 thousand), see note 10.
The interest expense for the year is calculated by applying an effective interest rate of 3,55% to the liability component for the 12-month period. The yield is based on a CCC+ credit rating assigned by Wiserfunding. CapitalIQ is consulted on the yields of 5-year bonds rated B or CCC, with 29 US companies underlying the CCC yield curve. Subsequently, the CCC+ interest rate is calculated through exponential interpolation.
The liability component is measured at amortized cost. The difference between the carrying amount of the liability component at the date of issue and the amount reported in the reporting on 31 December 2024 represents the effective interest rate less interest paid to that date.
The market price on 31 December 2024 at Boerse Frankfurt is 65.70% of the nominal value (2023: 60.70%).
", "dimensions": { "concept": "ifrs-full:DisclosureOfDebtSecuritiesExplanatory", "language": "en", "entity": "scheme:724500QDJRUMSPRDHW25", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "section-blocktag-i6653-5": { "value": "On 9 September 2021, CM.com issued convertible bonds due September 2026 at 100% of their nominal value in an aggregate principal amount of \u20ac\u00a0100 million. The convertible bonds have an interest rate of 2% payable semi-annually in arrears in equal installments on 9 March and 9 September each year, commencing first on 9 March 2022. The convertible bonds have a maturity of five years and a denomination of \u20ac\u00a0100 thousand each. The bonds are convertible into ordinary shares at the option of the bondholders during the conversion period ending on the earlier of seven business days prior to the maturity date or any relevant redemption date. The initial conversion price was set at \u20ac\u00a053.30 (30% premium over the reference share price).
CM.com has the option to redeem all, but not some, of the bonds for the time being outstanding at their principal amount together with accrued interest, at any time from 24 September 2024, provided that the volume weighted average price of a share on Euronext Amsterdam shall have exceeded 130% of the conversion price on each of not less than 20 trading days in any period of 30 consecutive trading days. Any outstanding bonds are also redeemable at any time after the settlement date if at least 85% of the issued bonds have been converted, settled, or redeemed.
The initial expire date of the convertible bonds is September 2026. On 12 February, 2025, the company established a facility agreement with 3 banks for an amount of \u20ac\u00a080 million and raised \u20ac\u00a020 million capital to redeem the convertible bonds. The buy-back was executed on March 6, 2025, upon approval of the bondholders meeting, for an amount of \u20ac\u00a087 million. Reference is made to note 33 subsequent events for more information.
The net proceeds received from the issue of the convertible loan notes have been split between a financial liability element and an equity component, representing the fair value of the embedded option to convert the financial liability into equity of CM.com. The difference between the net proceeds received from the issue of the convertible loan notes and the fair value of the related financial liability have been recorded as an equity component.
The movement of the financial liability is as follows:
| x \u20ac\u00a01,000 | 2024 | 2023 |
|---|---|---|
| \u00a0 | \u00a0 | \u00a0 |
| Carrying amount of liability component at 1 January | 95,922 | 94,262 |
| Interest charged (using effective interest rate) | 1,708 | 1,660 |
| Carrying amount of liability component at 31 December | 97,630 | 95,922 |
The equity component (net of tax) of \u20ac\u00a05,517 thousand (2023: \u20ac\u00a05,738 thousand) is credited to the option premium within the convertible bonds reserve. Upon issuance, a deferred tax liability recognized through equity of \u20ac\u00a01,698 thousand was recognized, offset by a related deferred tax asset recognized through equity of \u20ac\u00a01,113 thousand. In 2024, the movement in the equity component (net of tax) was \u20ac\u00a0221 thousand (2023 \u20ac\u00a0202 thousand), see note 10.
The interest expense for the year is calculated by applying an effective interest rate of 3,55% to the liability component for the 12-month period. The yield is based on a CCC+ credit rating assigned by Wiserfunding. CapitalIQ is consulted on the yields of 5-year bonds rated B or CCC, with 29 US companies underlying the CCC yield curve. Subsequently, the CCC+ interest rate is calculated through exponential interpolation.
The liability component is measured at amortized cost. The difference between the carrying amount of the liability component at the date of issue and the amount reported in the reporting on 31 December 2024 represents the effective interest rate less interest paid to that date.
The market price on 31 December 2024 at Boerse Frankfurt is 65.70% of the nominal value (2023: 60.70%).
", "dimensions": { "concept": "ifrs-full:DisclosureOfSubordinatedLiabilitiesExplanatory", "language": "en", "entity": "scheme:724500QDJRUMSPRDHW25", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "section-blocktag-i6678-1": { "value": "The provision is solely for expected payouts relating to refunds to clients who purchased insurance with their tickets. The company has applied the simplified approach under IFRS 17, as all insurance policies sold have a lifetime of less than 12 months.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForProvisionsExplanatory", "language": "en", "entity": "scheme:724500QDJRUMSPRDHW25", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "section-blocktag-i6678-2": { "value": "The provision is solely for expected payouts relating to refunds to clients who purchased insurance with their tickets. The company has applied the simplified approach under IFRS 17, as all insurance policies sold have a lifetime of less than 12 months.
", "dimensions": { "concept": "ifrs-full:DisclosureOfProvisionsExplanatory", "language": "en", "entity": "scheme:724500QDJRUMSPRDHW25", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "section-blocktag-i6679-1": { "value": "Trade and other payables per the end of the reporting period consist of the following:
| x \u20ac\u00a01,000 | 2024 | 2023 |
|---|---|---|
| \u00a0 | \u00a0 | \u00a0 |
| \u00a0 | \u00a0 | \u00a0 |
| Trade payables | 42,284 | 34,153 |
| Payables to merchants and financial institutions | 26,358 | 25,899 |
| Invoices to be received for services | 16,471 | 13,544 |
| VAT and payroll tax payables | 5,847 | 5,833 |
| Third-party collection payable to content providers | - | 763 |
| Other accruals | 8,644 | 9,620 |
| \u00a0 | 99,604 | 89,8121 |
These amounts represent liabilities for goods and services provided to the group, prior to the end of the reporting period, which are unpaid. The accruals are short-term in nature.
Payables to merchants and financial institutions relate to the collected amounts from consumers, received on the bank accounts of the foundation. These amounts are to be transferred to merchants of CM Payments B.V. and our Live clients.
The other accruals mainly consist of personnel accruals and non-trade invoices to be received.
", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherCurrentLiabilitiesExplanatory", "language": "en", "entity": "scheme:724500QDJRUMSPRDHW25", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "section-blocktag-i6679-2": { "value": "Trade and other payables per the end of the reporting period consist of the following:
| x \u20ac\u00a01,000 | 2024 | 2023 |
|---|---|---|
| \u00a0 | \u00a0 | \u00a0 |
| \u00a0 | \u00a0 | \u00a0 |
| Trade payables | 42,284 | 34,153 |
| Payables to merchants and financial institutions | 26,358 | 25,899 |
| Invoices to be received for services | 16,471 | 13,544 |
| VAT and payroll tax payables | 5,847 | 5,833 |
| Third-party collection payable to content providers | - | 763 |
| Other accruals | 8,644 | 9,620 |
| \u00a0 | 99,604 | 89,8121 |
These amounts represent liabilities for goods and services provided to the group, prior to the end of the reporting period, which are unpaid. The accruals are short-term in nature.
Payables to merchants and financial institutions relate to the collected amounts from consumers, received on the bank accounts of the foundation. These amounts are to be transferred to merchants of CM Payments B.V. and our Live clients.
The other accruals mainly consist of personnel accruals and non-trade invoices to be received.
", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherLiabilitiesExplanatory", "language": "en", "entity": "scheme:724500QDJRUMSPRDHW25", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "section-blocktag-i6679-3": { "value": "Trade and other payables per the end of the reporting period consist of the following:
| x \u20ac\u00a01,000 | 2024 | 2023 |
|---|---|---|
| \u00a0 | \u00a0 | \u00a0 |
| \u00a0 | \u00a0 | \u00a0 |
| Trade payables | 42,284 | 34,153 |
| Payables to merchants and financial institutions | 26,358 | 25,899 |
| Invoices to be received for services | 16,471 | 13,544 |
| VAT and payroll tax payables | 5,847 | 5,833 |
| Third-party collection payable to content providers | - | 763 |
| Other accruals | 8,644 | 9,620 |
| \u00a0 | 99,604 | 89,8121 |
These amounts represent liabilities for goods and services provided to the group, prior to the end of the reporting period, which are unpaid. The accruals are short-term in nature.
Payables to merchants and financial institutions relate to the collected amounts from consumers, received on the bank accounts of the foundation. These amounts are to be transferred to merchants of CM Payments B.V. and our Live clients.
The other accruals mainly consist of personnel accruals and non-trade invoices to be received.
The revenue received in advance mainly consists of prepaid subscription fees (linearly released over the contract period) or prepaid CPaaS balances (released by usage). The amount as per 31 December 2023 is settled in full in 2024. The amount as per 31 December 2024, will be settled in full in 2025. The increase in contract liabilities compared to 2024 is entirely attributed to the received prepaid balances in the Connect business unit.
", "dimensions": { "concept": "ifrs-full:DisclosureOfAccruedExpensesAndOtherLiabilitiesExplanatory", "language": "en", "entity": "scheme:724500QDJRUMSPRDHW25", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "section-blocktag-i6679-4": { "value": "Trade and other payables per the end of the reporting period consist of the following:
| x \u20ac\u00a01,000 | 2024 | 2023 |
|---|---|---|
| \u00a0 | \u00a0 | \u00a0 |
| \u00a0 | \u00a0 | \u00a0 |
| Trade payables | 42,284 | 34,153 |
| Payables to merchants and financial institutions | 26,358 | 25,899 |
| Invoices to be received for services | 16,471 | 13,544 |
| VAT and payroll tax payables | 5,847 | 5,833 |
| Third-party collection payable to content providers | - | 763 |
| Other accruals | 8,644 | 9,620 |
| \u00a0 | 99,604 | 89,8121 |
These amounts represent liabilities for goods and services provided to the group, prior to the end of the reporting period, which are unpaid. The accruals are short-term in nature.
Payables to merchants and financial institutions relate to the collected amounts from consumers, received on the bank accounts of the foundation. These amounts are to be transferred to merchants of CM Payments B.V. and our Live clients.
The other accruals mainly consist of personnel accruals and non-trade invoices to be received.
", "dimensions": { "concept": "ifrs-full:DisclosureOfTradeAndOtherPayablesExplanatory", "language": "en", "entity": "scheme:724500QDJRUMSPRDHW25", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "section-blocktag-i6679-5": { "value": "Trade and other payables per the end of the reporting period consist of the following:
| x \u20ac\u00a01,000 | 2024 | 2023 |
|---|---|---|
| \u00a0 | \u00a0 | \u00a0 |
| \u00a0 | \u00a0 | \u00a0 |
| Trade payables | 42,284 | 34,153 |
| Payables to merchants and financial institutions | 26,358 | 25,899 |
| Invoices to be received for services | 16,471 | 13,544 |
| VAT and payroll tax payables | 5,847 | 5,833 |
| Third-party collection payable to content providers | - | 763 |
| Other accruals | 8,644 | 9,620 |
| \u00a0 | 99,604 | 89,8121 |
These amounts represent liabilities for goods and services provided to the group, prior to the end of the reporting period, which are unpaid. The accruals are short-term in nature.
Payables to merchants and financial institutions relate to the collected amounts from consumers, received on the bank accounts of the foundation. These amounts are to be transferred to merchants of CM Payments B.V. and our Live clients.
The other accruals mainly consist of personnel accruals and non-trade invoices to be received.
The revenue received in advance mainly consists of prepaid subscription fees (linearly released over the contract period) or prepaid CPaaS balances (released by usage). The amount as per 31 December 2023 is settled in full in 2024. The amount as per 31 December 2024, will be settled in full in 2025. The increase in contract liabilities compared to 2024 is entirely attributed to the received prepaid balances in the Connect business unit.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForTradeAndOtherPayablesExplanatory", "language": "en", "entity": "scheme:724500QDJRUMSPRDHW25", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "section-blocktag-i6679-6": { "value": "Trade and other payables per the end of the reporting period consist of the following:
| x \u20ac\u00a01,000 | 2024 | 2023 |
|---|---|---|
| \u00a0 | \u00a0 | \u00a0 |
| \u00a0 | \u00a0 | \u00a0 |
| Trade payables | 42,284 | 34,153 |
| Payables to merchants and financial institutions | 26,358 | 25,899 |
| Invoices to be received for services | 16,471 | 13,544 |
| VAT and payroll tax payables | 5,847 | 5,833 |
| Third-party collection payable to content providers | - | 763 |
| Other accruals | 8,644 | 9,620 |
| \u00a0 | 99,604 | 89,8121 |
These amounts represent liabilities for goods and services provided to the group, prior to the end of the reporting period, which are unpaid. The accruals are short-term in nature.
Payables to merchants and financial institutions relate to the collected amounts from consumers, received on the bank accounts of the foundation. These amounts are to be transferred to merchants of CM Payments B.V. and our Live clients.
The other accruals mainly consist of personnel accruals and non-trade invoices to be received.
", "dimensions": { "concept": "ifrs-full:DisclosureOfDepositsFromCustomersExplanatory", "language": "en", "entity": "scheme:724500QDJRUMSPRDHW25", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "section-blocktag-i6725-1": { "value": "| x \u20ac\u00a01,000 | 2024 | 2023 |
|---|---|---|
| \u00a0 | \u00a0 | \u00a0 |
| \u00a0 | \u00a0 | \u00a0 |
| Wages and salaries | 49,269 | 56,449 |
| Social security charges | 7,402 | 8,883 |
| Pension costs | 1,942 | 2,168 |
| WBSO government grant | (1,370) | (635) |
| Capitalized development costs | (11,544) | (12,520) |
| \u00a0 | 45,699 | 54,345 |
The average number of employees of CM.com during the year, converted to full-time equivalents (FTEs), was 675 (2023: 820), of which 180 FTEs are working outside the Netherlands (2023: 211). The breakdown per department of average number FTEs is as follows:
| \u00a0 | 2024 | 20231 |
|---|---|---|
| Sales & Marketing | 315 | 400 |
| Research & Development | 256 | 299 |
| General & Administration | 103 | 121 |
| \u00a0 | 675 | 820 |
All pension solutions are classified as defined contribution pension plans. Accordingly, CM.com\u2019s obligation is limited to the contributions it committed to pay. In such case, the size of the employee\u2019s pension depends upon the contributions the company pays to the plan or an insurance company and upon the return on capital generated by these contributions. Consequently, the actuarial risk and investment risk are borne by the employee. The company\u2019s obligations to pay contributions to defined contribution plans are recognized as a cost.
The undiscounted amount of short-term employee benefits is recognized in the accounting period when the related service was rendered. A provision is recognized for the expected cost of bonus payments when the company has a legal or constructive obligation to make such payments as a result of employee services rendered and the obligation can be reliably measured.
Government grants are recognized when there is reasonable assurance that the grant will be received and all attached conditions will be complied with. CM.com receives WBSO, a government grant for research and development work in the Netherlands. It is implemented by the Netherlands Enterprise Agency (RVO) and promotes technical innovation. The WBSO government grant decreases the social security charges and is therefore recognized as a tax credit under the employee benefits in the year they are related to. As the primary condition of this governmental grant is not related to an asset purchased, constructed or otherwise acquired, the grant is not capitalized and not allocated to the useful live of the asset.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForEmployeeBenefitsExplanatory", "language": "en", "entity": "scheme:724500QDJRUMSPRDHW25", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "section-blocktag-i6725-2": { "value": "| x \u20ac\u00a01,000 | 2024 | 2023 |
|---|---|---|
| \u00a0 | \u00a0 | \u00a0 |
| \u00a0 | \u00a0 | \u00a0 |
| Wages and salaries | 49,269 | 56,449 |
| Social security charges | 7,402 | 8,883 |
| Pension costs | 1,942 | 2,168 |
| WBSO government grant | (1,370) | (635) |
| Capitalized development costs | (11,544) | (12,520) |
| \u00a0 | 45,699 | 54,345 |
The average number of employees of CM.com during the year, converted to full-time equivalents (FTEs), was 675 (2023: 820), of which 180 FTEs are working outside the Netherlands (2023: 211). The breakdown per department of average number FTEs is as follows:
| \u00a0 | 2024 | 20231 |
|---|---|---|
| Sales & Marketing | 315 | 400 |
| Research & Development | 256 | 299 |
| General & Administration | 103 | 121 |
| \u00a0 | 675 | 820 |
All pension solutions are classified as defined contribution pension plans. Accordingly, CM.com\u2019s obligation is limited to the contributions it committed to pay. In such case, the size of the employee\u2019s pension depends upon the contributions the company pays to the plan or an insurance company and upon the return on capital generated by these contributions. Consequently, the actuarial risk and investment risk are borne by the employee. The company\u2019s obligations to pay contributions to defined contribution plans are recognized as a cost.
The undiscounted amount of short-term employee benefits is recognized in the accounting period when the related service was rendered. A provision is recognized for the expected cost of bonus payments when the company has a legal or constructive obligation to make such payments as a result of employee services rendered and the obligation can be reliably measured.
Government grants are recognized when there is reasonable assurance that the grant will be received and all attached conditions will be complied with. CM.com receives WBSO, a government grant for research and development work in the Netherlands. It is implemented by the Netherlands Enterprise Agency (RVO) and promotes technical innovation. The WBSO government grant decreases the social security charges and is therefore recognized as a tax credit under the employee benefits in the year they are related to. As the primary condition of this governmental grant is not related to an asset purchased, constructed or otherwise acquired, the grant is not capitalized and not allocated to the useful live of the asset.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForGovernmentGrants", "language": "en", "entity": "scheme:724500QDJRUMSPRDHW25", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "section-blocktag-i6725-3": { "value": "| x \u20ac\u00a01,000 | 2024 | 2023 |
|---|---|---|
| \u00a0 | \u00a0 | \u00a0 |
| \u00a0 | \u00a0 | \u00a0 |
| Wages and salaries | 49,269 | 56,449 |
| Social security charges | 7,402 | 8,883 |
| Pension costs | 1,942 | 2,168 |
| WBSO government grant | (1,370) | (635) |
| Capitalized development costs | (11,544) | (12,520) |
| \u00a0 | 45,699 | 54,345 |
The average number of employees of CM.com during the year, converted to full-time equivalents (FTEs), was 675 (2023: 820), of which 180 FTEs are working outside the Netherlands (2023: 211). The breakdown per department of average number FTEs is as follows:
| \u00a0 | 2024 | 20231 |
|---|---|---|
| Sales & Marketing | 315 | 400 |
| Research & Development | 256 | 299 |
| General & Administration | 103 | 121 |
| \u00a0 | 675 | 820 |
All pension solutions are classified as defined contribution pension plans. Accordingly, CM.com\u2019s obligation is limited to the contributions it committed to pay. In such case, the size of the employee\u2019s pension depends upon the contributions the company pays to the plan or an insurance company and upon the return on capital generated by these contributions. Consequently, the actuarial risk and investment risk are borne by the employee. The company\u2019s obligations to pay contributions to defined contribution plans are recognized as a cost.
The undiscounted amount of short-term employee benefits is recognized in the accounting period when the related service was rendered. A provision is recognized for the expected cost of bonus payments when the company has a legal or constructive obligation to make such payments as a result of employee services rendered and the obligation can be reliably measured.
Government grants are recognized when there is reasonable assurance that the grant will be received and all attached conditions will be complied with. CM.com receives WBSO, a government grant for research and development work in the Netherlands. It is implemented by the Netherlands Enterprise Agency (RVO) and promotes technical innovation. The WBSO government grant decreases the social security charges and is therefore recognized as a tax credit under the employee benefits in the year they are related to. As the primary condition of this governmental grant is not related to an asset purchased, constructed or otherwise acquired, the grant is not capitalized and not allocated to the useful live of the asset.
", "dimensions": { "concept": "ifrs-full:DisclosureOfEmployeeBenefitsExplanatory", "language": "en", "entity": "scheme:724500QDJRUMSPRDHW25", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "section-blocktag-i6725-4": { "value": "| x \u20ac\u00a01,000 | 2024 | 2023 |
|---|---|---|
| \u00a0 | \u00a0 | \u00a0 |
| \u00a0 | \u00a0 | \u00a0 |
| Wages and salaries | 49,269 | 56,449 |
| Social security charges | 7,402 | 8,883 |
| Pension costs | 1,942 | 2,168 |
| WBSO government grant | (1,370) | (635) |
| Capitalized development costs | (11,544) | (12,520) |
| \u00a0 | 45,699 | 54,345 |
The average number of employees of CM.com during the year, converted to full-time equivalents (FTEs), was 675 (2023: 820), of which 180 FTEs are working outside the Netherlands (2023: 211). The breakdown per department of average number FTEs is as follows:
| \u00a0 | 2024 | 20231 |
|---|---|---|
| Sales & Marketing | 315 | 400 |
| Research & Development | 256 | 299 |
| General & Administration | 103 | 121 |
| \u00a0 | 675 | 820 |
All pension solutions are classified as defined contribution pension plans. Accordingly, CM.com\u2019s obligation is limited to the contributions it committed to pay. In such case, the size of the employee\u2019s pension depends upon the contributions the company pays to the plan or an insurance company and upon the return on capital generated by these contributions. Consequently, the actuarial risk and investment risk are borne by the employee. The company\u2019s obligations to pay contributions to defined contribution plans are recognized as a cost.
The undiscounted amount of short-term employee benefits is recognized in the accounting period when the related service was rendered. A provision is recognized for the expected cost of bonus payments when the company has a legal or constructive obligation to make such payments as a result of employee services rendered and the obligation can be reliably measured.
Government grants are recognized when there is reasonable assurance that the grant will be received and all attached conditions will be complied with. CM.com receives WBSO, a government grant for research and development work in the Netherlands. It is implemented by the Netherlands Enterprise Agency (RVO) and promotes technical innovation. The WBSO government grant decreases the social security charges and is therefore recognized as a tax credit under the employee benefits in the year they are related to. As the primary condition of this governmental grant is not related to an asset purchased, constructed or otherwise acquired, the grant is not capitalized and not allocated to the useful live of the asset.
| x \u20ac\u00a01,000 | 2024 | 2023 |
|---|---|---|
| \u00a0 | \u00a0 | \u00a0 |
| \u00a0 | \u00a0 | \u00a0 |
| IT expenses | 6,642 | 7,115 |
| General expenses | 3,655 | 4,310 |
| Marketing and sales expenses | 2,875 | 6,220 |
| Other staff expenses | 2,505 | 3,147 |
| Contractors and agency personnel expenses | 2,107 | 2,138 |
| Housing expenses | 1,858 | 2,596 |
| Expected credit losses | 1,304 | 1,389 |
| \u00a0 | 20,946 | 26,915 |
The capitalized development costs (see note 22) have partly been allocated to the general expenses for an amount of \u20ac\u00a02,886 thousand (2023: \u20ac\u00a03,130 thousand). This charge mainly relates to workspace and IT expenses.
For more information on the exposure to credit risk and the expected credit losses, see note 12.
", "dimensions": { "concept": "ifrs-full:DisclosureOfExpensesExplanatory", "language": "en", "entity": "scheme:724500QDJRUMSPRDHW25", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "section-blocktag-i6725-5": { "value": "| x \u20ac\u00a01,000 | 2024 | 2023 |
|---|---|---|
| \u00a0 | \u00a0 | \u00a0 |
| \u00a0 | \u00a0 | \u00a0 |
| Wages and salaries | 49,269 | 56,449 |
| Social security charges | 7,402 | 8,883 |
| Pension costs | 1,942 | 2,168 |
| WBSO government grant | (1,370) | (635) |
| Capitalized development costs | (11,544) | (12,520) |
| \u00a0 | 45,699 | 54,345 |
The average number of employees of CM.com during the year, converted to full-time equivalents (FTEs), was 675 (2023: 820), of which 180 FTEs are working outside the Netherlands (2023: 211). The breakdown per department of average number FTEs is as follows:
| \u00a0 | 2024 | 20231 |
|---|---|---|
| Sales & Marketing | 315 | 400 |
| Research & Development | 256 | 299 |
| General & Administration | 103 | 121 |
| \u00a0 | 675 | 820 |
All pension solutions are classified as defined contribution pension plans. Accordingly, CM.com\u2019s obligation is limited to the contributions it committed to pay. In such case, the size of the employee\u2019s pension depends upon the contributions the company pays to the plan or an insurance company and upon the return on capital generated by these contributions. Consequently, the actuarial risk and investment risk are borne by the employee. The company\u2019s obligations to pay contributions to defined contribution plans are recognized as a cost.
The undiscounted amount of short-term employee benefits is recognized in the accounting period when the related service was rendered. A provision is recognized for the expected cost of bonus payments when the company has a legal or constructive obligation to make such payments as a result of employee services rendered and the obligation can be reliably measured.
Government grants are recognized when there is reasonable assurance that the grant will be received and all attached conditions will be complied with. CM.com receives WBSO, a government grant for research and development work in the Netherlands. It is implemented by the Netherlands Enterprise Agency (RVO) and promotes technical innovation. The WBSO government grant decreases the social security charges and is therefore recognized as a tax credit under the employee benefits in the year they are related to. As the primary condition of this governmental grant is not related to an asset purchased, constructed or otherwise acquired, the grant is not capitalized and not allocated to the useful live of the asset.
", "dimensions": { "concept": "ifrs-full:DisclosureOfGovernmentGrantsExplanatory", "language": "en", "entity": "scheme:724500QDJRUMSPRDHW25", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "section-blocktag-i6725-6": { "value": "| x \u20ac\u00a01,000 | 2024 | 2023 |
|---|---|---|
| \u00a0 | \u00a0 | \u00a0 |
| \u00a0 | \u00a0 | \u00a0 |
| Wages and salaries | 49,269 | 56,449 |
| Social security charges | 7,402 | 8,883 |
| Pension costs | 1,942 | 2,168 |
| WBSO government grant | (1,370) | (635) |
| Capitalized development costs | (11,544) | (12,520) |
| \u00a0 | 45,699 | 54,345 |
The average number of employees of CM.com during the year, converted to full-time equivalents (FTEs), was 675 (2023: 820), of which 180 FTEs are working outside the Netherlands (2023: 211). The breakdown per department of average number FTEs is as follows:
| \u00a0 | 2024 | 20231 |
|---|---|---|
| Sales & Marketing | 315 | 400 |
| Research & Development | 256 | 299 |
| General & Administration | 103 | 121 |
| \u00a0 | 675 | 820 |
All pension solutions are classified as defined contribution pension plans. Accordingly, CM.com\u2019s obligation is limited to the contributions it committed to pay. In such case, the size of the employee\u2019s pension depends upon the contributions the company pays to the plan or an insurance company and upon the return on capital generated by these contributions. Consequently, the actuarial risk and investment risk are borne by the employee. The company\u2019s obligations to pay contributions to defined contribution plans are recognized as a cost.
The undiscounted amount of short-term employee benefits is recognized in the accounting period when the related service was rendered. A provision is recognized for the expected cost of bonus payments when the company has a legal or constructive obligation to make such payments as a result of employee services rendered and the obligation can be reliably measured.
Government grants are recognized when there is reasonable assurance that the grant will be received and all attached conditions will be complied with. CM.com receives WBSO, a government grant for research and development work in the Netherlands. It is implemented by the Netherlands Enterprise Agency (RVO) and promotes technical innovation. The WBSO government grant decreases the social security charges and is therefore recognized as a tax credit under the employee benefits in the year they are related to. As the primary condition of this governmental grant is not related to an asset purchased, constructed or otherwise acquired, the grant is not capitalized and not allocated to the useful live of the asset.
", "dimensions": { "concept": "ifrs-full:DisclosureOfInformationAboutEmployeesExplanatory", "language": "en", "entity": "scheme:724500QDJRUMSPRDHW25", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "section-blocktag-i6725-7": { "value": "| x \u20ac\u00a01,000 | 2024 | 2023 |
|---|---|---|
| \u00a0 | \u00a0 | \u00a0 |
| \u00a0 | \u00a0 | \u00a0 |
| Wages and salaries | 49,269 | 56,449 |
| Social security charges | 7,402 | 8,883 |
| Pension costs | 1,942 | 2,168 |
| WBSO government grant | (1,370) | (635) |
| Capitalized development costs | (11,544) | (12,520) |
| \u00a0 | 45,699 | 54,345 |
The average number of employees of CM.com during the year, converted to full-time equivalents (FTEs), was 675 (2023: 820), of which 180 FTEs are working outside the Netherlands (2023: 211). The breakdown per department of average number FTEs is as follows:
| \u00a0 | 2024 | 20231 |
|---|---|---|
| Sales & Marketing | 315 | 400 |
| Research & Development | 256 | 299 |
| General & Administration | 103 | 121 |
| \u00a0 | 675 | 820 |
All pension solutions are classified as defined contribution pension plans. Accordingly, CM.com\u2019s obligation is limited to the contributions it committed to pay. In such case, the size of the employee\u2019s pension depends upon the contributions the company pays to the plan or an insurance company and upon the return on capital generated by these contributions. Consequently, the actuarial risk and investment risk are borne by the employee. The company\u2019s obligations to pay contributions to defined contribution plans are recognized as a cost.
The undiscounted amount of short-term employee benefits is recognized in the accounting period when the related service was rendered. A provision is recognized for the expected cost of bonus payments when the company has a legal or constructive obligation to make such payments as a result of employee services rendered and the obligation can be reliably measured.
Government grants are recognized when there is reasonable assurance that the grant will be received and all attached conditions will be complied with. CM.com receives WBSO, a government grant for research and development work in the Netherlands. It is implemented by the Netherlands Enterprise Agency (RVO) and promotes technical innovation. The WBSO government grant decreases the social security charges and is therefore recognized as a tax credit under the employee benefits in the year they are related to. As the primary condition of this governmental grant is not related to an asset purchased, constructed or otherwise acquired, the grant is not capitalized and not allocated to the useful live of the asset.
| x \u20ac\u00a01,000 | 2024 | 2023 |
|---|---|---|
| \u00a0 | \u00a0 | \u00a0 |
| \u00a0 | \u00a0 | \u00a0 |
| IT expenses | 6,642 | 7,115 |
| General expenses | 3,655 | 4,310 |
| Marketing and sales expenses | 2,875 | 6,220 |
| Other staff expenses | 2,505 | 3,147 |
| Contractors and agency personnel expenses | 2,107 | 2,138 |
| Housing expenses | 1,858 | 2,596 |
| Expected credit losses | 1,304 | 1,389 |
| \u00a0 | 20,946 | 26,915 |
The capitalized development costs (see note 22) have partly been allocated to the general expenses for an amount of \u20ac\u00a02,886 thousand (2023: \u20ac\u00a03,130 thousand). This charge mainly relates to workspace and IT expenses.
For more information on the exposure to credit risk and the expected credit losses, see note 12.
", "dimensions": { "concept": "ifrs-full:DisclosureOfResearchAndDevelopmentExpenseExplanatory", "language": "en", "entity": "scheme:724500QDJRUMSPRDHW25", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "section-blocktag-i6790-1": { "value": "Equity-settled share-based payments to employees are measured at the fair value of the equity instruments at the grant date. The fair value excludes the effect of non-market-based vesting conditions.
The fair value determined at the grant date of the equity-settled share-based payments is expensed on a straight-line basis over the vesting period, based on the company\u2019s estimate of the number of equity instruments that will eventually vest. At each reporting date, CM.com revises its estimate of the number of equity instruments expected to vest as a result of the effect of non-market-based vesting conditions. The impact of the revision of the original estimates, if any, is recognized in profit or loss under Employee benefits such that the cumulative expense reflects the revised estimate, with a corresponding adjustment to reserves.
For cash-settled share-based payments, a liability is recognized measured initially at the fair value of the liability. At each reporting date until the liability is settled, and at the date of settlement, the fair value of the liability is remeasured, with any changes in fair value recognized in profit or loss under Employee benefits.
The following share-based payments schemes existed during the period:
Long-Term Incentive Plans (\u201cLTIP\u2019s\u201d) for key individuals in senior leadership positions;
Restricted Share Unit Plan (\"RSU\") for a number of key talents within CM.com; and
Key Person Plan (\u201cKPP\u201d) for a number of key employees within CM.com.
The Management Board recognizes the importance of its employees to the future success of the company. A Long-Term Incentive Plan (\"LTIP\") has been introduced for key individuals in senior leadership positions. Relevent grants under the LTIPs:
LTIP 2021-2024 granted at 1 January 2021. The vesting date was 1 April 2024.
LTIP 2022-2025 granted at 1 and 21 April 2022. The vesting date is 1 April 2025.
LTIP 2023-2026 granted at 24 May 2023. The vesting date is 1 April 2026.
LTIP 2024-2027 granted at 1 April 2024. The vesting date is 1 April 2027.
The number of awards made under the plan that will vest and become unconditional is subject to continued employment and the actual performance on the Total Shareholder Return (TSR), revenue or Gross profit: Compound Annual Growth Rate\u00a0(CAGR) or cummulative EBITDA, Customer Satisfaction, ESG - Gender diversity and Employee Satisfaction performance conditions. The company used the Monte Carlo model to determine the fair value of the TSR portion of the conditional awards.
| \u00a0 | 1 April 2024 |
|---|---|
| \u00a0 | \u00a0 |
| Share price at grant date | 7.0 |
| Expected volitality | 45.0% |
| Vesting period (years) | 3.0 |
| Annual dividend increase | -% |
| Risk-free interest rate (Eurozone, UK, Sweden) | 2.5/3.9/2.6 |
| Fair value at grant date | 7.22 |
| \u00a0 | 24 May 2023 |
|---|---|
| \u00a0 | \u00a0 |
| Share price at grant date | 8.0 |
| Expected volitality | 46.9% |
| Vesting period (years) | 2.9 |
| Annual dividend increase | -% |
| Risk-free interest rate (Eurozone, UK, Sweden) | 2.6/4.4/2.8 |
| Fair value at grant date | 3.42 |
| x \u20ac\u00a01,000 | 1 April 2022 | 21 April 2022 |
|---|---|---|
| \u00a0 | \u00a0 | \u00a0 |
| Share price at grant date | 19.4 | 17.3 |
| Expected volitality | 49.9% | 50.0% |
| Vesting period (years) | 3.0 | 2.9 |
| Annual dividend increase | -% | -% |
| Risk-free interest rate (Eurozone, AScX / US, NASDAQ-100) | 0.14/2.57 | 0.33/2.81 |
| Fair value at grant date | 9.07 | 6.91 |
| x \u20ac\u00a01,000 | January 2021 | May 2021 |
|---|---|---|
| \u00a0 | \u00a0 | \u00a0 |
| Share price at grant date | 31.0 | 28.1 |
| Expected volitality | 48.1% | 48.8% |
| Vesting period (years) | 3.0 | 2.9 |
| Annual dividend increase | -% | -% |
| Risk-free interest rate (Eurozone, AScX / US, NASDAQ-100) | (0.76)/0.17 | (0.69)/0.23 |
| Fair value at grant date | 38.47 | 28.58 |
The LTIP awards granted to employees are classified as equity-settled in accordance with the earlier described policy.
The Restricted Share Unit Plan (\u2018RSU\u2019) was introduced during 2022, to create competitive advantage in attracting, motivating and retaining key talent within CM.com. It comprises of ordinary shares for no consideration. The condition for vesting is that the relevant employee is still employed by the company on vesting date and has not given or have not been given notice of termination of employment. There are no market performance conditions in this plan that effect the vesting.
The Key Person Program (\u2018KPP\u2019) was introduced for a number of key employees within CM.com and comprise a bonus settled in cash or ordinary shares for no consideration. The condition for vesting is that the relevant employee continues to be employed by the company for two years after grant date. There are no market performance conditions in this plan that effect the vesting. During 2023 the shares granted in 2021 vested. The shares granted in 2022, vested in 2024.
A summary of the movements in outstanding shares for the different plans is provided:
| \u00a0 | LTIP | RSU | KPP |
|---|---|---|---|
| \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| At 31 December 2022 | 68,598 | 36,742 | 5,309 |
| Granted | 88,228 | 17,603 | - |
| Forfeited | (8,966) | (11,449) | - |
| Vested | (19,030) | (8,997) | (5,309) |
| At 31 December 2023 | 128,830 | 33,899 | - |
| Granted | 141,985 | 34,825 | - |
| Forfeited | (19,415) | (7,967) | - |
| Vested | (5,833) | (11,639) | - |
| At 31 December 2024 | 245,567 | 49,118 | - |
None of the outstanding shares were exercisable at 31 December 2024.
The company issues to certain employees share appreciation rights (\"SARs\") that require the company to pay the intrinsic value of the SAR to the employee at the date of exercise. The company has recorded liabilities of \u20ac\u00a015 thousand (2023: \u20ac\u00a012 thousand) and total expenses of \u20ac\u00a03 thousand (2023: \u20ac\u00a08 thousand). The total intrinsic value at 31 December 2024 \u20ac\u00a05.69 (2023: \u20ac\u00a08.70).
The expenses of the different plans are recognized in profit or loss under Employee benefits can be specified as follows:
| x \u20ac\u00a01,000 | 2024 | 2023 |
|---|---|---|
| \u00a0 | \u00a0 | \u00a0 |
| LTIP (equity-settled) | 147 | 351 |
| RSU (equity-settled) | 199 | 112 |
| KPP (cash-settled) | 3 | 8 |
| \u00a0 | 349 | 471 |
Equity-settled share-based payments to employees are measured at the fair value of the equity instruments at the grant date. The fair value excludes the effect of non-market-based vesting conditions.
The fair value determined at the grant date of the equity-settled share-based payments is expensed on a straight-line basis over the vesting period, based on the company\u2019s estimate of the number of equity instruments that will eventually vest. At each reporting date, CM.com revises its estimate of the number of equity instruments expected to vest as a result of the effect of non-market-based vesting conditions. The impact of the revision of the original estimates, if any, is recognized in profit or loss under Employee benefits such that the cumulative expense reflects the revised estimate, with a corresponding adjustment to reserves.
For cash-settled share-based payments, a liability is recognized measured initially at the fair value of the liability. At each reporting date until the liability is settled, and at the date of settlement, the fair value of the liability is remeasured, with any changes in fair value recognized in profit or loss under Employee benefits.
The following share-based payments schemes existed during the period:
Long-Term Incentive Plans (\u201cLTIP\u2019s\u201d) for key individuals in senior leadership positions;
Restricted Share Unit Plan (\"RSU\") for a number of key talents within CM.com; and
Key Person Plan (\u201cKPP\u201d) for a number of key employees within CM.com.
The Management Board recognizes the importance of its employees to the future success of the company. A Long-Term Incentive Plan (\"LTIP\") has been introduced for key individuals in senior leadership positions. Relevent grants under the LTIPs:
LTIP 2021-2024 granted at 1 January 2021. The vesting date was 1 April 2024.
LTIP 2022-2025 granted at 1 and 21 April 2022. The vesting date is 1 April 2025.
LTIP 2023-2026 granted at 24 May 2023. The vesting date is 1 April 2026.
LTIP 2024-2027 granted at 1 April 2024. The vesting date is 1 April 2027.
The number of awards made under the plan that will vest and become unconditional is subject to continued employment and the actual performance on the Total Shareholder Return (TSR), revenue or Gross profit: Compound Annual Growth Rate\u00a0(CAGR) or cummulative EBITDA, Customer Satisfaction, ESG - Gender diversity and Employee Satisfaction performance conditions. The company used the Monte Carlo model to determine the fair value of the TSR portion of the conditional awards.
| \u00a0 | 1 April 2024 |
|---|---|
| \u00a0 | \u00a0 |
| Share price at grant date | 7.0 |
| Expected volitality | 45.0% |
| Vesting period (years) | 3.0 |
| Annual dividend increase | -% |
| Risk-free interest rate (Eurozone, UK, Sweden) | 2.5/3.9/2.6 |
| Fair value at grant date | 7.22 |
| \u00a0 | 24 May 2023 |
|---|---|
| \u00a0 | \u00a0 |
| Share price at grant date | 8.0 |
| Expected volitality | 46.9% |
| Vesting period (years) | 2.9 |
| Annual dividend increase | -% |
| Risk-free interest rate (Eurozone, UK, Sweden) | 2.6/4.4/2.8 |
| Fair value at grant date | 3.42 |
| x \u20ac\u00a01,000 | 1 April 2022 | 21 April 2022 |
|---|---|---|
| \u00a0 | \u00a0 | \u00a0 |
| Share price at grant date | 19.4 | 17.3 |
| Expected volitality | 49.9% | 50.0% |
| Vesting period (years) | 3.0 | 2.9 |
| Annual dividend increase | -% | -% |
| Risk-free interest rate (Eurozone, AScX / US, NASDAQ-100) | 0.14/2.57 | 0.33/2.81 |
| Fair value at grant date | 9.07 | 6.91 |
| x \u20ac\u00a01,000 | January 2021 | May 2021 |
|---|---|---|
| \u00a0 | \u00a0 | \u00a0 |
| Share price at grant date | 31.0 | 28.1 |
| Expected volitality | 48.1% | 48.8% |
| Vesting period (years) | 3.0 | 2.9 |
| Annual dividend increase | -% | -% |
| Risk-free interest rate (Eurozone, AScX / US, NASDAQ-100) | (0.76)/0.17 | (0.69)/0.23 |
| Fair value at grant date | 38.47 | 28.58 |
The LTIP awards granted to employees are classified as equity-settled in accordance with the earlier described policy.
The Restricted Share Unit Plan (\u2018RSU\u2019) was introduced during 2022, to create competitive advantage in attracting, motivating and retaining key talent within CM.com. It comprises of ordinary shares for no consideration. The condition for vesting is that the relevant employee is still employed by the company on vesting date and has not given or have not been given notice of termination of employment. There are no market performance conditions in this plan that effect the vesting.
The Key Person Program (\u2018KPP\u2019) was introduced for a number of key employees within CM.com and comprise a bonus settled in cash or ordinary shares for no consideration. The condition for vesting is that the relevant employee continues to be employed by the company for two years after grant date. There are no market performance conditions in this plan that effect the vesting. During 2023 the shares granted in 2021 vested. The shares granted in 2022, vested in 2024.
A summary of the movements in outstanding shares for the different plans is provided:
| \u00a0 | LTIP | RSU | KPP |
|---|---|---|---|
| \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| At 31 December 2022 | 68,598 | 36,742 | 5,309 |
| Granted | 88,228 | 17,603 | - |
| Forfeited | (8,966) | (11,449) | - |
| Vested | (19,030) | (8,997) | (5,309) |
| At 31 December 2023 | 128,830 | 33,899 | - |
| Granted | 141,985 | 34,825 | - |
| Forfeited | (19,415) | (7,967) | - |
| Vested | (5,833) | (11,639) | - |
| At 31 December 2024 | 245,567 | 49,118 | - |
None of the outstanding shares were exercisable at 31 December 2024.
The company issues to certain employees share appreciation rights (\"SARs\") that require the company to pay the intrinsic value of the SAR to the employee at the date of exercise. The company has recorded liabilities of \u20ac\u00a015 thousand (2023: \u20ac\u00a012 thousand) and total expenses of \u20ac\u00a03 thousand (2023: \u20ac\u00a08 thousand). The total intrinsic value at 31 December 2024 \u20ac\u00a05.69 (2023: \u20ac\u00a08.70).
The expenses of the different plans are recognized in profit or loss under Employee benefits can be specified as follows:
| x \u20ac\u00a01,000 | 2024 | 2023 |
|---|---|---|
| \u00a0 | \u00a0 | \u00a0 |
| LTIP (equity-settled) | 147 | 351 |
| RSU (equity-settled) | 199 | 112 |
| KPP (cash-settled) | 3 | 8 |
| \u00a0 | 349 | 471 |
| x \u20ac\u00a01,000 | 2024 | 2023 |
|---|---|---|
| \u00a0 | \u00a0 | \u00a0 |
| \u00a0 | \u00a0 | \u00a0 |
| IT expenses | 6,642 | 7,115 |
| General expenses | 3,655 | 4,310 |
| Marketing and sales expenses | 2,875 | 6,220 |
| Other staff expenses | 2,505 | 3,147 |
| Contractors and agency personnel expenses | 2,107 | 2,138 |
| Housing expenses | 1,858 | 2,596 |
| Expected credit losses | 1,304 | 1,389 |
| \u00a0 | 20,946 | 26,915 |
The capitalized development costs (see note 22) have partly been allocated to the general expenses for an amount of \u20ac\u00a02,886 thousand (2023: \u20ac\u00a03,130 thousand). This charge mainly relates to workspace and IT expenses.
For more information on the exposure to credit risk and the expected credit losses, see note 12.
", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherOperatingExpenseExplanatory", "language": "en", "entity": "scheme:724500QDJRUMSPRDHW25", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "section-blocktag-i7005-3": { "value": "| x \u20ac\u00a01,000 | 2024 | 2023 |
|---|---|---|
| \u00a0 | \u00a0 | \u00a0 |
| \u00a0 | \u00a0 | \u00a0 |
| IT expenses | 6,642 | 7,115 |
| General expenses | 3,655 | 4,310 |
| Marketing and sales expenses | 2,875 | 6,220 |
| Other staff expenses | 2,505 | 3,147 |
| Contractors and agency personnel expenses | 2,107 | 2,138 |
| Housing expenses | 1,858 | 2,596 |
| Expected credit losses | 1,304 | 1,389 |
| \u00a0 | 20,946 | 26,915 |
The capitalized development costs (see note 22) have partly been allocated to the general expenses for an amount of \u20ac\u00a02,886 thousand (2023: \u20ac\u00a03,130 thousand). This charge mainly relates to workspace and IT expenses.
For more information on the exposure to credit risk and the expected credit losses, see note 12.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForExpensesExplanatory", "language": "en", "entity": "scheme:724500QDJRUMSPRDHW25", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "section-blocktag-i7005-4": { "value": "| x \u20ac\u00a01,000 | 2024 | 2023 |
|---|---|---|
| \u00a0 | \u00a0 | \u00a0 |
| \u00a0 | \u00a0 | \u00a0 |
| IT expenses | 6,642 | 7,115 |
| General expenses | 3,655 | 4,310 |
| Marketing and sales expenses | 2,875 | 6,220 |
| Other staff expenses | 2,505 | 3,147 |
| Contractors and agency personnel expenses | 2,107 | 2,138 |
| Housing expenses | 1,858 | 2,596 |
| Expected credit losses | 1,304 | 1,389 |
| \u00a0 | 20,946 | 26,915 |
The capitalized development costs (see note 22) have partly been allocated to the general expenses for an amount of \u20ac\u00a02,886 thousand (2023: \u20ac\u00a03,130 thousand). This charge mainly relates to workspace and IT expenses.
For more information on the exposure to credit risk and the expected credit losses, see note 12.
", "dimensions": { "concept": "ifrs-full:DisclosureOfExpensesByNatureExplanatory", "language": "en", "entity": "scheme:724500QDJRUMSPRDHW25", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "section-blocktag-i7005-5": { "value": "| x \u20ac\u00a01,000 | 2024 | 2023 |
|---|---|---|
| \u00a0 | \u00a0 | \u00a0 |
| \u00a0 | \u00a0 | \u00a0 |
| IT expenses | 6,642 | 7,115 |
| General expenses | 3,655 | 4,310 |
| Marketing and sales expenses | 2,875 | 6,220 |
| Other staff expenses | 2,505 | 3,147 |
| Contractors and agency personnel expenses | 2,107 | 2,138 |
| Housing expenses | 1,858 | 2,596 |
| Expected credit losses | 1,304 | 1,389 |
| \u00a0 | 20,946 | 26,915 |
The capitalized development costs (see note 22) have partly been allocated to the general expenses for an amount of \u20ac\u00a02,886 thousand (2023: \u20ac\u00a03,130 thousand). This charge mainly relates to workspace and IT expenses.
For more information on the exposure to credit risk and the expected credit losses, see note 12.
", "dimensions": { "concept": "ifrs-full:DisclosureOfGeneralAndAdministrativeExpenseExplanatory", "language": "en", "entity": "scheme:724500QDJRUMSPRDHW25", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "section-blocktag-i7054-1": { "value": "| x \u20ac\u00a01,000 | 2024 | 2023 |
|---|---|---|
| \u00a0 | \u00a0 | \u00a0 |
| \u00a0 | \u00a0 | \u00a0 |
| Bank interest | 673 | 379 |
| Other interest | 358 | 40 |
| Currency results | 201 | - |
| Fair value gains | - | 877 |
| \u00a0 | 1,232 | 1,296 |
Fair value gains relates to reassessment of earn-out liabilities measured at fair value through profit or loss.
| x \u20ac\u00a01,000 | 2024 | 2023 |
|---|---|---|
| \u00a0 | \u00a0 | \u00a0 |
| \u00a0 | \u00a0 | \u00a0 |
| Interest on convertible bonds | 3,708 | 3,660 |
| Interest on right-of-use liability | 547 | 582 |
| Bank interest | 552 | 125 |
| Fair value losses | 234 | 33 |
| Other interest | 179 | 78 |
| Currency results | - | 1,140 |
| \u00a0 | 5,220 | 5,618 |
Fair value losses relates to reassessment of earn-out liabilities measured at fair value through profit or loss.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinanceCostsExplanatory", "language": "en", "entity": "scheme:724500QDJRUMSPRDHW25", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "section-blocktag-i7054-2": { "value": "| x \u20ac\u00a01,000 | 2024 | 2023 |
|---|---|---|
| \u00a0 | \u00a0 | \u00a0 |
| \u00a0 | \u00a0 | \u00a0 |
| Bank interest | 673 | 379 |
| Other interest | 358 | 40 |
| Currency results | 201 | - |
| Fair value gains | - | 877 |
| \u00a0 | 1,232 | 1,296 |
Fair value gains relates to reassessment of earn-out liabilities measured at fair value through profit or loss.
| x \u20ac\u00a01,000 | 2024 | 2023 |
|---|---|---|
| \u00a0 | \u00a0 | \u00a0 |
| \u00a0 | \u00a0 | \u00a0 |
| Interest on convertible bonds | 3,708 | 3,660 |
| Interest on right-of-use liability | 547 | 582 |
| Bank interest | 552 | 125 |
| Fair value losses | 234 | 33 |
| Other interest | 179 | 78 |
| Currency results | - | 1,140 |
| \u00a0 | 5,220 | 5,618 |
Fair value losses relates to reassessment of earn-out liabilities measured at fair value through profit or loss.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinanceIncomeAndCostsExplanatory", "language": "en", "entity": "scheme:724500QDJRUMSPRDHW25", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "section-blocktag-i7054-3": { "value": "| x \u20ac\u00a01,000 | 2024 | 2023 |
|---|---|---|
| \u00a0 | \u00a0 | \u00a0 |
| \u00a0 | \u00a0 | \u00a0 |
| Bank interest | 673 | 379 |
| Other interest | 358 | 40 |
| Currency results | 201 | - |
| Fair value gains | - | 877 |
| \u00a0 | 1,232 | 1,296 |
Fair value gains relates to reassessment of earn-out liabilities measured at fair value through profit or loss.
| x \u20ac\u00a01,000 | 2024 | 2023 |
|---|---|---|
| \u00a0 | \u00a0 | \u00a0 |
| \u00a0 | \u00a0 | \u00a0 |
| Interest on convertible bonds | 3,708 | 3,660 |
| Interest on right-of-use liability | 547 | 582 |
| Bank interest | 552 | 125 |
| Fair value losses | 234 | 33 |
| Other interest | 179 | 78 |
| Currency results | - | 1,140 |
| \u00a0 | 5,220 | 5,618 |
Fair value losses relates to reassessment of earn-out liabilities measured at fair value through profit or loss.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForInterestIncomeAndExpenseExplanatory", "language": "en", "entity": "scheme:724500QDJRUMSPRDHW25", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "section-blocktag-i7054-4": { "value": "| x \u20ac\u00a01,000 | 2024 | 2023 |
|---|---|---|
| \u00a0 | \u00a0 | \u00a0 |
| \u00a0 | \u00a0 | \u00a0 |
| Bank interest | 673 | 379 |
| Other interest | 358 | 40 |
| Currency results | 201 | - |
| Fair value gains | - | 877 |
| \u00a0 | 1,232 | 1,296 |
Fair value gains relates to reassessment of earn-out liabilities measured at fair value through profit or loss.
| x \u20ac\u00a01,000 | 2024 | 2023 |
|---|---|---|
| \u00a0 | \u00a0 | \u00a0 |
| \u00a0 | \u00a0 | \u00a0 |
| Interest on convertible bonds | 3,708 | 3,660 |
| Interest on right-of-use liability | 547 | 582 |
| Bank interest | 552 | 125 |
| Fair value losses | 234 | 33 |
| Other interest | 179 | 78 |
| Currency results | - | 1,140 |
| \u00a0 | 5,220 | 5,618 |
Fair value losses relates to reassessment of earn-out liabilities measured at fair value through profit or loss.
", "dimensions": { "concept": "ifrs-full:DisclosureOfBorrowingCostsExplanatory", "language": "en", "entity": "scheme:724500QDJRUMSPRDHW25", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "section-blocktag-i7054-5": { "value": "| x \u20ac\u00a01,000 | 2024 | 2023 |
|---|---|---|
| \u00a0 | \u00a0 | \u00a0 |
| \u00a0 | \u00a0 | \u00a0 |
| Bank interest | 673 | 379 |
| Other interest | 358 | 40 |
| Currency results | 201 | - |
| Fair value gains | - | 877 |
| \u00a0 | 1,232 | 1,296 |
Fair value gains relates to reassessment of earn-out liabilities measured at fair value through profit or loss.
| x \u20ac\u00a01,000 | 2024 | 2023 |
|---|---|---|
| \u00a0 | \u00a0 | \u00a0 |
| \u00a0 | \u00a0 | \u00a0 |
| Interest on convertible bonds | 3,708 | 3,660 |
| Interest on right-of-use liability | 547 | 582 |
| Bank interest | 552 | 125 |
| Fair value losses | 234 | 33 |
| Other interest | 179 | 78 |
| Currency results | - | 1,140 |
| \u00a0 | 5,220 | 5,618 |
Fair value losses relates to reassessment of earn-out liabilities measured at fair value through profit or loss.
", "dimensions": { "concept": "ifrs-full:DisclosureOfFinanceCostExplanatory", "language": "en", "entity": "scheme:724500QDJRUMSPRDHW25", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "section-blocktag-i7054-6": { "value": "| x \u20ac\u00a01,000 | 2024 | 2023 |
|---|---|---|
| \u00a0 | \u00a0 | \u00a0 |
| \u00a0 | \u00a0 | \u00a0 |
| Bank interest | 673 | 379 |
| Other interest | 358 | 40 |
| Currency results | 201 | - |
| Fair value gains | - | 877 |
| \u00a0 | 1,232 | 1,296 |
Fair value gains relates to reassessment of earn-out liabilities measured at fair value through profit or loss.
| x \u20ac\u00a01,000 | 2024 | 2023 |
|---|---|---|
| \u00a0 | \u00a0 | \u00a0 |
| \u00a0 | \u00a0 | \u00a0 |
| Interest on convertible bonds | 3,708 | 3,660 |
| Interest on right-of-use liability | 547 | 582 |
| Bank interest | 552 | 125 |
| Fair value losses | 234 | 33 |
| Other interest | 179 | 78 |
| Currency results | - | 1,140 |
| \u00a0 | 5,220 | 5,618 |
Fair value losses relates to reassessment of earn-out liabilities measured at fair value through profit or loss.
", "dimensions": { "concept": "ifrs-full:DisclosureOfFinanceIncomeExplanatory", "language": "en", "entity": "scheme:724500QDJRUMSPRDHW25", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "section-blocktag-i7054-7": { "value": "| x \u20ac\u00a01,000 | 2024 | 2023 |
|---|---|---|
| \u00a0 | \u00a0 | \u00a0 |
| \u00a0 | \u00a0 | \u00a0 |
| Bank interest | 673 | 379 |
| Other interest | 358 | 40 |
| Currency results | 201 | - |
| Fair value gains | - | 877 |
| \u00a0 | 1,232 | 1,296 |
Fair value gains relates to reassessment of earn-out liabilities measured at fair value through profit or loss.
| x \u20ac\u00a01,000 | 2024 | 2023 |
|---|---|---|
| \u00a0 | \u00a0 | \u00a0 |
| \u00a0 | \u00a0 | \u00a0 |
| Interest on convertible bonds | 3,708 | 3,660 |
| Interest on right-of-use liability | 547 | 582 |
| Bank interest | 552 | 125 |
| Fair value losses | 234 | 33 |
| Other interest | 179 | 78 |
| Currency results | - | 1,140 |
| \u00a0 | 5,220 | 5,618 |
Fair value losses relates to reassessment of earn-out liabilities measured at fair value through profit or loss.
", "dimensions": { "concept": "ifrs-full:DisclosureOfFinanceIncomeExpenseExplanatory", "language": "en", "entity": "scheme:724500QDJRUMSPRDHW25", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "section-blocktag-i7054-8": { "value": "| x \u20ac\u00a01,000 | 2024 | 2023 |
|---|---|---|
| \u00a0 | \u00a0 | \u00a0 |
| \u00a0 | \u00a0 | \u00a0 |
| Bank interest | 673 | 379 |
| Other interest | 358 | 40 |
| Currency results | 201 | - |
| Fair value gains | - | 877 |
| \u00a0 | 1,232 | 1,296 |
Fair value gains relates to reassessment of earn-out liabilities measured at fair value through profit or loss.
| x \u20ac\u00a01,000 | 2024 | 2023 |
|---|---|---|
| \u00a0 | \u00a0 | \u00a0 |
| \u00a0 | \u00a0 | \u00a0 |
| Interest on convertible bonds | 3,708 | 3,660 |
| Interest on right-of-use liability | 547 | 582 |
| Bank interest | 552 | 125 |
| Fair value losses | 234 | 33 |
| Other interest | 179 | 78 |
| Currency results | - | 1,140 |
| \u00a0 | 5,220 | 5,618 |
Fair value losses relates to reassessment of earn-out liabilities measured at fair value through profit or loss.
", "dimensions": { "concept": "ifrs-full:DisclosureOfInterestExpenseExplanatory", "language": "en", "entity": "scheme:724500QDJRUMSPRDHW25", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "section-blocktag-i7054-9": { "value": "| x \u20ac\u00a01,000 | 2024 | 2023 |
|---|---|---|
| \u00a0 | \u00a0 | \u00a0 |
| \u00a0 | \u00a0 | \u00a0 |
| Bank interest | 673 | 379 |
| Other interest | 358 | 40 |
| Currency results | 201 | - |
| Fair value gains | - | 877 |
| \u00a0 | 1,232 | 1,296 |
Fair value gains relates to reassessment of earn-out liabilities measured at fair value through profit or loss.
| x \u20ac\u00a01,000 | 2024 | 2023 |
|---|---|---|
| \u00a0 | \u00a0 | \u00a0 |
| \u00a0 | \u00a0 | \u00a0 |
| Interest on convertible bonds | 3,708 | 3,660 |
| Interest on right-of-use liability | 547 | 582 |
| Bank interest | 552 | 125 |
| Fair value losses | 234 | 33 |
| Other interest | 179 | 78 |
| Currency results | - | 1,140 |
| \u00a0 | 5,220 | 5,618 |
Fair value losses relates to reassessment of earn-out liabilities measured at fair value through profit or loss.
", "dimensions": { "concept": "ifrs-full:DisclosureOfInterestIncomeExplanatory", "language": "en", "entity": "scheme:724500QDJRUMSPRDHW25", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "section-blocktag-i7054-10": { "value": "| x \u20ac\u00a01,000 | 2024 | 2023 |
|---|---|---|
| \u00a0 | \u00a0 | \u00a0 |
| \u00a0 | \u00a0 | \u00a0 |
| Bank interest | 673 | 379 |
| Other interest | 358 | 40 |
| Currency results | 201 | - |
| Fair value gains | - | 877 |
| \u00a0 | 1,232 | 1,296 |
Fair value gains relates to reassessment of earn-out liabilities measured at fair value through profit or loss.
| x \u20ac\u00a01,000 | 2024 | 2023 |
|---|---|---|
| \u00a0 | \u00a0 | \u00a0 |
| \u00a0 | \u00a0 | \u00a0 |
| Interest on convertible bonds | 3,708 | 3,660 |
| Interest on right-of-use liability | 547 | 582 |
| Bank interest | 552 | 125 |
| Fair value losses | 234 | 33 |
| Other interest | 179 | 78 |
| Currency results | - | 1,140 |
| \u00a0 | 5,220 | 5,618 |
Fair value losses relates to reassessment of earn-out liabilities measured at fair value through profit or loss.
", "dimensions": { "concept": "ifrs-full:DisclosureOfInterestIncomeExpenseExplanatory", "language": "en", "entity": "scheme:724500QDJRUMSPRDHW25", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "section-blocktag-i7135-1": { "value": "As per 31 December 2024, the company has a contingent asset of \u20ac\u00a0725 thousand (2023: nil) relating to a (sub)lease agreement for one of its buildings to a third party.
As of 31 December 2024, the legal entities that are part of the group have outstanding bank guarantees amounting to \u20ac\u00a063 thousand (2023: \u20ac\u00a013 thousand).
The company has no contingent liabilities in respect to legal claims.
CM.com N.V. forms a fiscal unity for corporate income tax and VAT with the Dutch subsidiaries, excluding CM.com Ticket Guarantee N.V. (for VAT and CIT purposes), CM.com R&D 14 B.V. (for VAT purposes), and CM Payments B.V. (for VAT purposes). Under the Dutch Tax Collection Act, the members of the fiscal unity are jointly and severally liable for any taxes payable by the fiscal unity.
", "dimensions": { "concept": "ifrs-full:DisclosureOfContingentLiabilitiesExplanatory", "language": "en", "entity": "scheme:724500QDJRUMSPRDHW25", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "section-blocktag-i7135-2": { "value": "As per 31 December 2024, the company has a contingent asset of \u20ac\u00a0725 thousand (2023: nil) relating to a (sub)lease agreement for one of its buildings to a third party.
As of 31 December 2024, the legal entities that are part of the group have outstanding bank guarantees amounting to \u20ac\u00a063 thousand (2023: \u20ac\u00a013 thousand).
The company has no contingent liabilities in respect to legal claims.
CM.com N.V. forms a fiscal unity for corporate income tax and VAT with the Dutch subsidiaries, excluding CM.com Ticket Guarantee N.V. (for VAT and CIT purposes), CM.com R&D 14 B.V. (for VAT purposes), and CM Payments B.V. (for VAT purposes). Under the Dutch Tax Collection Act, the members of the fiscal unity are jointly and severally liable for any taxes payable by the fiscal unity.
", "dimensions": { "concept": "ifrs-full:DisclosureOfCommitmentsAndContingentLiabilitiesExplanatory", "language": "en", "entity": "scheme:724500QDJRUMSPRDHW25", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "section-blocktag-i7135-3": { "value": "As per 31 December 2024, the company has a contingent asset of \u20ac\u00a0725 thousand (2023: nil) relating to a (sub)lease agreement for one of its buildings to a third party.
As of 31 December 2024, the legal entities that are part of the group have outstanding bank guarantees amounting to \u20ac\u00a063 thousand (2023: \u20ac\u00a013 thousand).
The company has no contingent liabilities in respect to legal claims.
CM.com N.V. forms a fiscal unity for corporate income tax and VAT with the Dutch subsidiaries, excluding CM.com Ticket Guarantee N.V. (for VAT and CIT purposes), CM.com R&D 14 B.V. (for VAT purposes), and CM Payments B.V. (for VAT purposes). Under the Dutch Tax Collection Act, the members of the fiscal unity are jointly and severally liable for any taxes payable by the fiscal unity.
", "dimensions": { "concept": "ifrs-full:DisclosureOfCommitmentsExplanatory", "language": "en", "entity": "scheme:724500QDJRUMSPRDHW25", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "section-blocktag-i7135-4": { "value": "As per 31 December 2024, the company has a contingent asset of \u20ac\u00a0725 thousand (2023: nil) relating to a (sub)lease agreement for one of its buildings to a third party.
As of 31 December 2024, the legal entities that are part of the group have outstanding bank guarantees amounting to \u20ac\u00a063 thousand (2023: \u20ac\u00a013 thousand).
The company has no contingent liabilities in respect to legal claims.
CM.com N.V. forms a fiscal unity for corporate income tax and VAT with the Dutch subsidiaries, excluding CM.com Ticket Guarantee N.V. (for VAT and CIT purposes), CM.com R&D 14 B.V. (for VAT purposes), and CM Payments B.V. (for VAT purposes). Under the Dutch Tax Collection Act, the members of the fiscal unity are jointly and severally liable for any taxes payable by the fiscal unity.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForContingentLiabilitiesAndContingentAssetsExplanatory", "language": "en", "entity": "scheme:724500QDJRUMSPRDHW25", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "section-blocktag-i7135-5": { "value": "As per 31 December 2024, the company has a contingent asset of \u20ac\u00a0725 thousand (2023: nil) relating to a (sub)lease agreement for one of its buildings to a third party.
As of 31 December 2024, the legal entities that are part of the group have outstanding bank guarantees amounting to \u20ac\u00a063 thousand (2023: \u20ac\u00a013 thousand).
The company has no contingent liabilities in respect to legal claims.
CM.com N.V. forms a fiscal unity for corporate income tax and VAT with the Dutch subsidiaries, excluding CM.com Ticket Guarantee N.V. (for VAT and CIT purposes), CM.com R&D 14 B.V. (for VAT purposes), and CM Payments B.V. (for VAT purposes). Under the Dutch Tax Collection Act, the members of the fiscal unity are jointly and severally liable for any taxes payable by the fiscal unity.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialGuaranteesExplanatory", "language": "en", "entity": "scheme:724500QDJRUMSPRDHW25", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "section-blocktag-i7136-1": { "value": "All legal entities that can be controlled, jointly controlled, or significantly influenced are considered related parties. Entities that can control the company or its subsidiaries are also considered related parties. In addition, the members of the Management Board and the Supervisory Board are considered key management personnel as defined in IAS 24. All transactions with related parties are made at terms equivalent to those that prevail in arm\u2019s length transactions.
The following transactions were carried out with related parties:
Purchases from/sales to related parties (leases from related parties); and
Management Board and Supervisory Board remuneration
CM.com has a rental agreement with CM Campus B.V. which is a related party by its shareholders (2 members of the Management Board of CM.com N.V.). The rent charged by CM Campus B.V. is at arm's length and amounted to \u20ac\u00a01.2 million for 2024 (2023: \u20ac\u00a01.2 million). The lease agreements relating to CM Campus B.V. are considered right-of-use assets and have a carrying amount of \u20ac\u00a07.8 million (2023: \u20ac\u00a07.9 million). The corresponding right-of-use liabilities have a carrying amount of \u20ac\u00a08.0 million (2023: 8.0 million). The accounts receivable position related to CM Campus B.V. amounted to \u20ac\u00a010 thousand (2023: \u20ac\u00a08 thousand). CM.com has provided facility, finance, and legal services during 2024 for CM Campus B.V., charged at arm's length, for an amount of \u20ac\u00a028 thousand (2023: \u20ac\u00a027 thousand).
| x \u20ac\u00a01,000 | 2024 | 2023 |
|---|---|---|
| \u00a0 | \u00a0 | \u00a0 |
| Remuneration Management Board: | \u00a0 | \u00a0 |
| Short-term employee benefits | 1,676 | 1,711 |
| Post-employment benefits | 20 | 19 |
| Share-based payments | 230 | 240 |
| \u00a0 | \u00a0 | \u00a0 |
| Remuneration Supervisory Board: | \u00a0 | \u00a0 |
| Short-term benefits | 257 | 251 |
| \u00a0 | 2,183 | 2,221 |
The remuneration policy for members of the Management Board was developed by the Supervisory Board, and approved, adopted, and amended by the General Meeting. For more information see Remuneration of the Management Board and Remuneration of the Supervisory Board.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForTransactionsWithRelatedPartiesExplanatory", "language": "en", "entity": "scheme:724500QDJRUMSPRDHW25", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "section-blocktag-i7136-2": { "value": "All legal entities that can be controlled, jointly controlled, or significantly influenced are considered related parties. Entities that can control the company or its subsidiaries are also considered related parties. In addition, the members of the Management Board and the Supervisory Board are considered key management personnel as defined in IAS 24. All transactions with related parties are made at terms equivalent to those that prevail in arm\u2019s length transactions.
The following transactions were carried out with related parties:
Purchases from/sales to related parties (leases from related parties); and
Management Board and Supervisory Board remuneration
CM.com has a rental agreement with CM Campus B.V. which is a related party by its shareholders (2 members of the Management Board of CM.com N.V.). The rent charged by CM Campus B.V. is at arm's length and amounted to \u20ac\u00a01.2 million for 2024 (2023: \u20ac\u00a01.2 million). The lease agreements relating to CM Campus B.V. are considered right-of-use assets and have a carrying amount of \u20ac\u00a07.8 million (2023: \u20ac\u00a07.9 million). The corresponding right-of-use liabilities have a carrying amount of \u20ac\u00a08.0 million (2023: 8.0 million). The accounts receivable position related to CM Campus B.V. amounted to \u20ac\u00a010 thousand (2023: \u20ac\u00a08 thousand). CM.com has provided facility, finance, and legal services during 2024 for CM Campus B.V., charged at arm's length, for an amount of \u20ac\u00a028 thousand (2023: \u20ac\u00a027 thousand).
| x \u20ac\u00a01,000 | 2024 | 2023 |
|---|---|---|
| \u00a0 | \u00a0 | \u00a0 |
| Remuneration Management Board: | \u00a0 | \u00a0 |
| Short-term employee benefits | 1,676 | 1,711 |
| Post-employment benefits | 20 | 19 |
| Share-based payments | 230 | 240 |
| \u00a0 | \u00a0 | \u00a0 |
| Remuneration Supervisory Board: | \u00a0 | \u00a0 |
| Short-term benefits | 257 | 251 |
| \u00a0 | 2,183 | 2,221 |
The remuneration policy for members of the Management Board was developed by the Supervisory Board, and approved, adopted, and amended by the General Meeting. For more information see Remuneration of the Management Board and Remuneration of the Supervisory Board.
", "dimensions": { "concept": "ifrs-full:DisclosureOfInformationAboutKeyManagementPersonnelExplanatory", "language": "en", "entity": "scheme:724500QDJRUMSPRDHW25", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "section-blocktag-i7136-3": { "value": "All legal entities that can be controlled, jointly controlled, or significantly influenced are considered related parties. Entities that can control the company or its subsidiaries are also considered related parties. In addition, the members of the Management Board and the Supervisory Board are considered key management personnel as defined in IAS 24. All transactions with related parties are made at terms equivalent to those that prevail in arm\u2019s length transactions.
The following transactions were carried out with related parties:
Purchases from/sales to related parties (leases from related parties); and
Management Board and Supervisory Board remuneration
CM.com has a rental agreement with CM Campus B.V. which is a related party by its shareholders (2 members of the Management Board of CM.com N.V.). The rent charged by CM Campus B.V. is at arm's length and amounted to \u20ac\u00a01.2 million for 2024 (2023: \u20ac\u00a01.2 million). The lease agreements relating to CM Campus B.V. are considered right-of-use assets and have a carrying amount of \u20ac\u00a07.8 million (2023: \u20ac\u00a07.9 million). The corresponding right-of-use liabilities have a carrying amount of \u20ac\u00a08.0 million (2023: 8.0 million). The accounts receivable position related to CM Campus B.V. amounted to \u20ac\u00a010 thousand (2023: \u20ac\u00a08 thousand). CM.com has provided facility, finance, and legal services during 2024 for CM Campus B.V., charged at arm's length, for an amount of \u20ac\u00a028 thousand (2023: \u20ac\u00a027 thousand).
| x \u20ac\u00a01,000 | 2024 | 2023 |
|---|---|---|
| \u00a0 | \u00a0 | \u00a0 |
| Remuneration Management Board: | \u00a0 | \u00a0 |
| Short-term employee benefits | 1,676 | 1,711 |
| Post-employment benefits | 20 | 19 |
| Share-based payments | 230 | 240 |
| \u00a0 | \u00a0 | \u00a0 |
| Remuneration Supervisory Board: | \u00a0 | \u00a0 |
| Short-term benefits | 257 | 251 |
| \u00a0 | 2,183 | 2,221 |
The remuneration policy for members of the Management Board was developed by the Supervisory Board, and approved, adopted, and amended by the General Meeting. For more information see Remuneration of the Management Board and Remuneration of the Supervisory Board.
CM.com N.V. in Breda (the Netherlands) is the head of a group of legal entities. A summary of the information required under Article 2:379 of the Dutch Civil Code is given:
| Name | Statutory Seat | Principal Activities | Share in Issued Share Capital |
|---|---|---|---|
| \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| CM.com N.V. | Breda (The Netherlands) | Holding company | 100% |
| CM.com Netherlands B.V. | Breda (The Netherlands) | Mobile telecommunication services | 100% |
| CM.com International B.V. | Breda (The Netherlands) | Voice services | 100% |
| CM Payments B.V. | Breda (The Netherlands) | Payments processing | 100% |
| CM Platform B.V. | Breda (The Netherlands) | R&D | 100% |
| SEPASoft B.V. | Amsterdam (The Netherlands) | Point of Sale Gateway | 100% |
| PayPlaza B.V. | Amsterdam (The Netherlands) | Point of Sale Gateway | 100% |
| PayPlaza Gov Solutions B.V.1 | Amsterdam (The Netherlands) | Point of Sale Gateway | n/a |
| CM.com Ticketing B.V.2 | Utrecht (The Netherlands) | Ticketing services | 100% |
| Global Ticket B.V.1 | Breda (The Netherlands) | Ticketing services | n/a |
| Get-a-Ticket B.V.1 | Gouda (The Netherlands) | Ticketing services | n/a |
| CM.com R&D 1 B.V. | Breda (The Netherlands) | R&D | 100% |
| CM.com R&D 2 B.V. | Breda (The Netherlands) | R&D | 100% |
| CM.com R&D 3 B.V. | Breda (The Netherlands) | R&D | 100% |
| CM.com R&D 4 B.V. | Breda (The Netherlands) | R&D | 100% |
| CM.com R&D 5 B.V. | Breda (The Netherlands) | R&D | 100% |
| CM.com R&D 6 B.V. | Breda (The Netherlands) | R&D | 100% |
| CM.com R&D 7 B.V. | Breda (The Netherlands) | R&D | 100% |
| CM.com R&D 8 B.V. | Breda (The Netherlands) | R&D | 100% |
| CM.com R&D 9 B.V. | Breda (The Netherlands) | R&D | 100% |
| CM.com R&D 10 B.V. | Breda (The Netherlands) | R&D | 100% |
| CM.com R&D 11 B.V. | Breda (The Netherlands) | R&D | 100% |
| CM.com R&D 12 B.V. | Breda (The Netherlands) | R&D | 100% |
| CM.com R&D 13 B.V. | Breda (The Netherlands) | R&D | 100% |
| CM.com R&D 14 B.V.3 | Tilburg (The Netherlands) | Consumer AI technology | 100% |
| Building Blocks Holding B.V.1 | Tilburg (The Netherlands) | Consumer AI technology | n/a |
| Blocks B.V.1 | Tilburg (The Netherlands) | Consumer AI technology | n/a |
| CM.com Ticket Guarantee N.V. | Breda (The Netherlands) | Ticket insurances | 100% |
| CM.com Belgium N.V. | Zaventem (Belgium) | Marketing and sales office | 100% |
| CM.com Germany GmbH | Frankfurt (Germany) | Marketing and sales office | 100% |
| CM Telecom UK Ltd. | London (UK) | Marketing and sales office | 100% |
| Elitechnology Limited4 | London (UK) | Marketing and sales office | n/a |
| CM Telecom France SAS | Paris (France) | Marketing and sales office | 100% |
| CM Telecom Hong Kong Ltd. | Hong Kong (China) | Marketing and sales office | 100% |
| CM Telecom Shenzhen Co. Ltd. | Shenzhen (China) | Marketing and sales office | 100% |
| CM Telecom Singapore Private Ltd. | Singapore (Singapore) | Marketing and sales office | 100% |
| CM.com Japan K.K. | Tokyo (Japan) | Marketing and sales office | 100% |
| CM Telecom South Africa Ltd. | Cape Town (South Africa) | Marketing and sales office | 100% |
| CM.com US Inc. | Wilmington, Delaware (USA) | Marketing and sales office | 100% |
| CM Telecom FZ-LLC | Dubai (UAE) | Marketing and sales office | 100% |
| CM Communication Platform & Technology, S.L.U. | Barcelona (Spain) | Marketing and sales office | 100% |
| CMCOM Turkey Elektronik Haberlesme Ltd Sti | Istanbul (Turkey) | Marketing and sales office | 100% |
| CM.com Kenya Ltd. | Nairobi (Kenya) | Marketing and sales office | 100% |
| Communication Platform India Private Limited | Bangalore (India) | Marketing and sales office | 100% |
| CM.com Italy S.r.l. | Milan (Italy) | Marketing and sales office | 100% |
| CM.COM Mexico, S. de R.L. de C.V. | Mexico City (Mexico) | Marketing and sales office | 100% |
| CM.com Brasil Ltda. | Sao Paulo (Brasil) | Marketing and sales office | 100% |
| CM.com Kazakhstan Limited Liability Company | Almaty (Kazakhstan) | Marketing and sales office | 100% |
| CM.com Denmark AS | Copenhagen (Denmark) | Marketing and sales office | 100% |
| CM.com Stichting | Breda (The Netherlands) | Third-party Funds Foundation | n/a |
| Stichting Derdengelden CM Payments5 | Breda (The Netherlands) | Third-party Funds Foundation | n/a |
| Stichting YourTicketProvider | Breda (The Netherlands) | Third-party Funds Foundation | n/a |
CM.com N.V. in Breda (the Netherlands) is the head of a group of legal entities. A summary of the information required under Article 2:379 of the Dutch Civil Code is given:
| Name | Statutory Seat | Principal Activities | Share in Issued Share Capital |
|---|---|---|---|
| \u00a0 | \u00a0 | \u00a0 | \u00a0 |
| CM.com N.V. | Breda (The Netherlands) | Holding company | 100% |
| CM.com Netherlands B.V. | Breda (The Netherlands) | Mobile telecommunication services | 100% |
| CM.com International B.V. | Breda (The Netherlands) | Voice services | 100% |
| CM Payments B.V. | Breda (The Netherlands) | Payments processing | 100% |
| CM Platform B.V. | Breda (The Netherlands) | R&D | 100% |
| SEPASoft B.V. | Amsterdam (The Netherlands) | Point of Sale Gateway | 100% |
| PayPlaza B.V. | Amsterdam (The Netherlands) | Point of Sale Gateway | 100% |
| PayPlaza Gov Solutions B.V.1 | Amsterdam (The Netherlands) | Point of Sale Gateway | n/a |
| CM.com Ticketing B.V.2 | Utrecht (The Netherlands) | Ticketing services | 100% |
| Global Ticket B.V.1 | Breda (The Netherlands) | Ticketing services | n/a |
| Get-a-Ticket B.V.1 | Gouda (The Netherlands) | Ticketing services | n/a |
| CM.com R&D 1 B.V. | Breda (The Netherlands) | R&D | 100% |
| CM.com R&D 2 B.V. | Breda (The Netherlands) | R&D | 100% |
| CM.com R&D 3 B.V. | Breda (The Netherlands) | R&D | 100% |
| CM.com R&D 4 B.V. | Breda (The Netherlands) | R&D | 100% |
| CM.com R&D 5 B.V. | Breda (The Netherlands) | R&D | 100% |
| CM.com R&D 6 B.V. | Breda (The Netherlands) | R&D | 100% |
| CM.com R&D 7 B.V. | Breda (The Netherlands) | R&D | 100% |
| CM.com R&D 8 B.V. | Breda (The Netherlands) | R&D | 100% |
| CM.com R&D 9 B.V. | Breda (The Netherlands) | R&D | 100% |
| CM.com R&D 10 B.V. | Breda (The Netherlands) | R&D | 100% |
| CM.com R&D 11 B.V. | Breda (The Netherlands) | R&D | 100% |
| CM.com R&D 12 B.V. | Breda (The Netherlands) | R&D | 100% |
| CM.com R&D 13 B.V. | Breda (The Netherlands) | R&D | 100% |
| CM.com R&D 14 B.V.3 | Tilburg (The Netherlands) | Consumer AI technology | 100% |
| Building Blocks Holding B.V.1 | Tilburg (The Netherlands) | Consumer AI technology | n/a |
| Blocks B.V.1 | Tilburg (The Netherlands) | Consumer AI technology | n/a |
| CM.com Ticket Guarantee N.V. | Breda (The Netherlands) | Ticket insurances | 100% |
| CM.com Belgium N.V. | Zaventem (Belgium) | Marketing and sales office | 100% |
| CM.com Germany GmbH | Frankfurt (Germany) | Marketing and sales office | 100% |
| CM Telecom UK Ltd. | London (UK) | Marketing and sales office | 100% |
| Elitechnology Limited4 | London (UK) | Marketing and sales office | n/a |
| CM Telecom France SAS | Paris (France) | Marketing and sales office | 100% |
| CM Telecom Hong Kong Ltd. | Hong Kong (China) | Marketing and sales office | 100% |
| CM Telecom Shenzhen Co. Ltd. | Shenzhen (China) | Marketing and sales office | 100% |
| CM Telecom Singapore Private Ltd. | Singapore (Singapore) | Marketing and sales office | 100% |
| CM.com Japan K.K. | Tokyo (Japan) | Marketing and sales office | 100% |
| CM Telecom South Africa Ltd. | Cape Town (South Africa) | Marketing and sales office | 100% |
| CM.com US Inc. | Wilmington, Delaware (USA) | Marketing and sales office | 100% |
| CM Telecom FZ-LLC | Dubai (UAE) | Marketing and sales office | 100% |
| CM Communication Platform & Technology, S.L.U. | Barcelona (Spain) | Marketing and sales office | 100% |
| CMCOM Turkey Elektronik Haberlesme Ltd Sti | Istanbul (Turkey) | Marketing and sales office | 100% |
| CM.com Kenya Ltd. | Nairobi (Kenya) | Marketing and sales office | 100% |
| Communication Platform India Private Limited | Bangalore (India) | Marketing and sales office | 100% |
| CM.com Italy S.r.l. | Milan (Italy) | Marketing and sales office | 100% |
| CM.COM Mexico, S. de R.L. de C.V. | Mexico City (Mexico) | Marketing and sales office | 100% |
| CM.com Brasil Ltda. | Sao Paulo (Brasil) | Marketing and sales office | 100% |
| CM.com Kazakhstan Limited Liability Company | Almaty (Kazakhstan) | Marketing and sales office | 100% |
| CM.com Denmark AS | Copenhagen (Denmark) | Marketing and sales office | 100% |
| CM.com Stichting | Breda (The Netherlands) | Third-party Funds Foundation | n/a |
| Stichting Derdengelden CM Payments5 | Breda (The Netherlands) | Third-party Funds Foundation | n/a |
| Stichting YourTicketProvider | Breda (The Netherlands) | Third-party Funds Foundation | n/a |
With reference to section 2:382a (1) and (2) of the Dutch Civil Code, the following fees for the financial year have been charged by Deloitte Accountants B.V. as well as by other Deloitte member firms to the company and its subsidiaries:
| x \u20ac\u00a01,000 | \u00a0 | Deloitte |
|---|---|---|
| Audit fees | \u00a0 | 755 |
| Review fees | \u00a0 | 150 |
| Other services | \u00a0 | 9 |
| \u00a0 | \u00a0 | 914 |
The comparative figures for 2023 are as follows:
| x \u20ac\u00a01,000 | \u00a0 | Deloitte |
|---|---|---|
| Audit fees | \u00a0 | 770 |
| Other services | \u00a0 | 9 |
| \u00a0 | \u00a0 | 779 |
The above includes the audit fees with respect to the Dutch statutory audits, which cannot be split from the total audit fees. The fees also include the fee for local statutory financial statements outside the Netherlands for an amount of \u20ac\u00a0274 thousand (2023: \u20ac\u00a0248 thousand).
", "dimensions": { "concept": "ifrs-full:DisclosureOfAuditorsRemunerationExplanatory", "language": "en", "entity": "scheme:724500QDJRUMSPRDHW25", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "section-blocktag-i7503-1": { "value": "The preparation of the consolidated financial statements in conformity with IFRS requires management to make judgments, estimates, and assumptions that affect the application of accounting policies and the reported amounts of assets, liabilities, income, and expenses. These estimates inherently contain a degree of uncertainty. Actual results may differ from these estimates under different assumptions or conditions.
The areas where the most significant judgments and estimates are made are revenue, deferred tax asset valuation, impairment and useful life of non-current assets.
If CM.com has control of goods or services when they are delivered to a customer, then CM.com is the principal in the sale to the customer, otherwise, CM.com is acting as an agent. Whether CM.com is considered to be the principal or an agent in the transaction depends on analysis by management of both the legal form and substance of the agreement between CM.com and its business partners; such judgments impact the amount of reported revenue and operating expenses but do not impact reported assets, liabilities, or cash flows. Scenarios requiring judgment to determine whether CM.com is a principal or an agent include, for example, those where CM.com delivers third-party content to customers. Revenue for premium SMS is presented on a net basis.
The valuation of deferred tax assets involves signification estimation due to the inherent uncertainty in predicting future taxable income. The utilization of our deferred tax assets depends on future taxable income and tax planning strategies. The recognition of deferred tax assets is based on the assessment of whether it is more likely than not that sufficient taxable profit will be available in the future to utilize the reversal of temporary differences and tax losses. Recognition of deferred tax assets involves judgment regarding the future financial performance of the particular legal entity or tax group that has recognized the deferred tax asset.
Goodwill and intangible assets with indefinite useful lives (note 5) are tested for impairment annually. Impairment tests are based on risk-adjusted future cash flows discounted using appropriate discount rates. These future cash flows are based on forecasts which are inherently judgmental. Future events could cause the assumptions to change which could have an adverse effect on the future results. Specific estimates and judgments used in impairment testing are detailed in note 6.
A forecast period of five years (eight years for CGU Pay) is used for the value-in-use calculation for the impairment test on goodwill and intangible assets with indefinite useful life (e.g. domain names). The cash flow projections are based on the financial forecast approved by the Management Board, covering a three-year period (2025-2027). The cash flow projections beyond that three-year period are based on expected revenue growth, derived from our mid-term guidance which focuses on Gross profit growth. CGUs are tested for impairment by comparing the carrying amount of each CGU to its recoverable amount. The Management Board has assessed the reasonableness of the assumptions on which its current cash flow projections are based.
The useful lives have to be determined for intangible assets and property, plant, and equipment. The useful lives are estimated based on best practices within CM.com. CM.com reviews the remaining useful lives of its non-current assets annually. The uncertainty included in this estimate is that the useful lives are estimated longer than the actual useful lives of the intangible assets and property, plant, and equipment, which could possibly result in accelerated amortization and depreciation in future years and/or impairments at the end of the actual useful lives of the related intangible assets and property, plant, and equipment. We have reassessed the useful lives and no change is required in FY 2024.
", "dimensions": { "concept": "ifrs-full:DisclosureOfAccountingJudgementsAndEstimatesExplanatory", "language": "en", "entity": "scheme:724500QDJRUMSPRDHW25", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "section-blocktag-i7504-1": { "value": "On February 12, 2025, CM.com signed a facility agreement with HSBC Continental Europe, ING Bank N.V., and ABN AMRO Bank, for a Revolving Credit Facility (RCF) with a principal amount of \u20ac\u00a080\u00a0million, including covenants, and guarantees for the bank in case of default. The most important financial covenants measured on a quarterly basis consist of a minimum level of EBITDA and liquidity available until October 2026. After this date, a leverage ratio and a debt service coverage ratio will be included as financial covenants until the maturity date of the RCF. The RCF is expected to be reduced to a maximum amount of \u20ac\u00a065 million by February 2027. Management expects that these covenants and repayments will be reasonably realized based on the assumptions outlined in the business plan for 2025-2027.
The duration is until February 12, 2028, with two extension options of one year each, with an interest rate of EURIBOR + margin (4.75%-5.50%). Due to the enactment of the new agreement the existing RCF expired on March 10, 2025. Conditions precedent was a capital injection, \u20ac\u00a020 million share capital was raised through an accelerated bookbuild. CM.com placed 2,985,075 ordinary shares at a nominal value of \u20ac\u00a06,70. The purpose of the facility is to redeem all outstanding convertible bonds (see note 18). The redemption of the outstanding convertible bonds for an amount of \u20ac\u00a087 million has been completed on March 11, 2025.
On January 1, 2025, CM.com acquired GUTS Tickets, enabling us to provide customers with access to a smart ticketing system using blockchain technology and dynamic QR codes. The acquisition comprised customer contracts and ticketing activities. It is expected to have no significant financial implications for the company or its subsidiaries during 2025.
", "dimensions": { "concept": "ifrs-full:DisclosureOfEventsAfterReportingPeriodExplanatory", "language": "en", "entity": "scheme:724500QDJRUMSPRDHW25", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "section-blocktag-i7505-1": { "value": "The accounting policies adopted in the preparation of the consolidated financial statements are consistent with those followed in the preparation of CM.com's annual consolidated financial statements for the year ended 31 December 2023, apart from:
Gross profit is monitored by Management as an indicator of the company's performance. CM.com considers Gross profit to provide additional insight to its users to reflect the profitable growth strategy. Therefore Gross profit was added as an intermediate count in the statement of comprehensive result. This is in line with the definitions in IFRS 18, however, we did not perform a full early adoption of the standard (effective as of 2027) and as such we have added the definition of Gross profit to the list of alternative performance measures which can be found in the Definitions and Abbreviations.
The presentation of the consolidated statement of cash flows was altered to better align with IAS 7.16 e-f. Loans granted, repayment of loans granted, deposits paid, and deposits refunded are now classified as investing activities (formerly financing activities). Comparative figures are adjusted.
Impairment analysis is performed on non-current assets with an indefinite useful life, among which goodwill, the CGU's are adjusted to better reflect our business unit structure, and align with internal reporting. We refer to note 5 and 6 of this financial statements for further details.
New standards, amendments, and/or interpretations to existing IFRS standards became effective in 2024. These new standards, amendments, and interpretations, as far as they are relevant, have no material impact on the valuation and classification of assets and liabilities of the company, nor on its income statement or cash flows.
New standards, amendments and/or interpretations to existing IFRS standards have been published that only need to be applied to accounting periods beginning on or after January 1, 2025. As far as these standards, amendments and interpretations are applicable to the Group, these are expected to have no effect on the valuation and classification of assets and liabilities. The Group has decided not to opt for early adoption.
", "dimensions": { "concept": "ifrs-full:DisclosureOfReclassificationsOrChangesInPresentationExplanatory", "language": "en", "entity": "scheme:724500QDJRUMSPRDHW25", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "section-blocktag-i7505-2": { "value": "The accounting policies adopted in the preparation of the consolidated financial statements are consistent with those followed in the preparation of CM.com's annual consolidated financial statements for the year ended 31 December 2023, apart from:
Gross profit is monitored by Management as an indicator of the company's performance. CM.com considers Gross profit to provide additional insight to its users to reflect the profitable growth strategy. Therefore Gross profit was added as an intermediate count in the statement of comprehensive result. This is in line with the definitions in IFRS 18, however, we did not perform a full early adoption of the standard (effective as of 2027) and as such we have added the definition of Gross profit to the list of alternative performance measures which can be found in the Definitions and Abbreviations.
The presentation of the consolidated statement of cash flows was altered to better align with IAS 7.16 e-f. Loans granted, repayment of loans granted, deposits paid, and deposits refunded are now classified as investing activities (formerly financing activities). Comparative figures are adjusted.
Impairment analysis is performed on non-current assets with an indefinite useful life, among which goodwill, the CGU's are adjusted to better reflect our business unit structure, and align with internal reporting. We refer to note 5 and 6 of this financial statements for further details.
New standards, amendments, and/or interpretations to existing IFRS standards became effective in 2024. These new standards, amendments, and interpretations, as far as they are relevant, have no material impact on the valuation and classification of assets and liabilities of the company, nor on its income statement or cash flows.
New standards, amendments and/or interpretations to existing IFRS standards have been published that only need to be applied to accounting periods beginning on or after January 1, 2025. As far as these standards, amendments and interpretations are applicable to the Group, these are expected to have no effect on the valuation and classification of assets and liabilities. The Group has decided not to opt for early adoption.
", "dimensions": { "concept": "ifrs-full:DisclosureOfChangesInAccountingPoliciesExplanatory", "language": "en", "entity": "scheme:724500QDJRUMSPRDHW25", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "section-blocktag-i7505-3": { "value": "The accounting policies adopted in the preparation of the consolidated financial statements are consistent with those followed in the preparation of CM.com's annual consolidated financial statements for the year ended 31 December 2023, apart from:
Gross profit is monitored by Management as an indicator of the company's performance. CM.com considers Gross profit to provide additional insight to its users to reflect the profitable growth strategy. Therefore Gross profit was added as an intermediate count in the statement of comprehensive result. This is in line with the definitions in IFRS 18, however, we did not perform a full early adoption of the standard (effective as of 2027) and as such we have added the definition of Gross profit to the list of alternative performance measures which can be found in the Definitions and Abbreviations.
The presentation of the consolidated statement of cash flows was altered to better align with IAS 7.16 e-f. Loans granted, repayment of loans granted, deposits paid, and deposits refunded are now classified as investing activities (formerly financing activities). Comparative figures are adjusted.
Impairment analysis is performed on non-current assets with an indefinite useful life, among which goodwill, the CGU's are adjusted to better reflect our business unit structure, and align with internal reporting. We refer to note 5 and 6 of this financial statements for further details.
New standards, amendments, and/or interpretations to existing IFRS standards became effective in 2024. These new standards, amendments, and interpretations, as far as they are relevant, have no material impact on the valuation and classification of assets and liabilities of the company, nor on its income statement or cash flows.
New standards, amendments and/or interpretations to existing IFRS standards have been published that only need to be applied to accounting periods beginning on or after January 1, 2025. As far as these standards, amendments and interpretations are applicable to the Group, these are expected to have no effect on the valuation and classification of assets and liabilities. The Group has decided not to opt for early adoption.
", "dimensions": { "concept": "ifrs-full:DisclosureOfChangesInAccountingPoliciesAccountingEstimatesAndErrorsExplanatory", "language": "en", "entity": "scheme:724500QDJRUMSPRDHW25", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "section-blocktag-i8774-1": { "value": "The members of the Supervisory Board signed the financial statements in order to comply with their statutory obligation pursuant to Article 2:101, paragraph 2, of the Dutch Civil Code.\u00a0
The members of the Management Board signed the financial statements in order to comply with their statutory obligation pursuant to Article 2:101, paragraph 2, of the Dutch Civil Code and Article 5:25c, paragraph 2 sub c, of the Financial Markets Supervision Act.\u00a0
Breda, 12 March 2025
| Management Board | Supervisory Board |
|---|---|
| Jeroen van Glabbeek | Jacques van den Broek |
| Gilbert Gooijers | Mariken Tannemaat |
| J\u00f6rg de Graaf | Stephan Nanninga |
| \u00a0 | Lex Beins |
| \u00a0 | Jo\u00eblle Frijters |
| \u00a0 | Diederik Karsten |