NOTE 18 – FINANCIAL INCOME The analysis of financial income for the years ended 31 December 2024, 2023 and 2022 is as follows: Financial income: | | | | | | | | | 1 January – | | 1 January – | | 1 January – | | | 31 December | | 31 December | | 31 December | | | 2024 | | 2023 | | 2022 | | | | | | | | Interest income on time deposits | | 1,729,070 | | 727,747 | | 478,523 | Interest income on credit sales | | 1,373,524 | | 537,512 | | 298,737 | Foreign currency exchange gains | | 654,812 | | 3,483,863 | | 3,599,091 | Fair value gains on financial assets measured at fair value (Note 4) | | 127,621 | | 342,921 | | 121,801 | Interest received on financial investment (Note 4) | | 1,676 | | 1,709 | | — | Other | | 131,274 | | 16,692 | | 54,328 | | | | | | | | | | 4,017,977 | | 5,110,444 | | 4,552,480 |
Foreign currency exchange gains are mainly driven by foreign currency denominated cash and cash equiavelents and financial investments.
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