Financial Instruments (Tables)

6 Months Ended

Jun. 30, 2025

Financial Instruments [Abstract]

Schedule of Transactions in Derivative Financial Instruments

Financial instruments - the composition of the derivatives

		June 30, 2025				December 31, 2024
		€ in thousands
Derivatives presented under current assets
Forward			442				-
Swap contracts			98				146
Financial power swap			98				-
			638				146

Derivatives presented under non-current assets
Swap contracts			760				716
Financial power swap			14,163				15,258
			14,923				15,974

Derivatives presented under current liabilities
Forward			-				(1	)
Swap contracts			(41	)			(43	)
Financial power swap			-				(1,831	)
			(41	)			(1,875	)

Derivatives presented under non-current liabilities
Swap contracts			(171	)			(288	)

Schedule of Fair Values of the Other Financial Liabilities

The fair values of the other financial assets and liabilities, together with the carrying amounts shown in the statement of financial position, are as follows:

		June 30, 2025
						Fair value
		Carrying amount				Level 1				Level 2				Level 3				Valuation techniques for determining fair value		Inputs used to determine fair value
		€ in thousands
Non-current liabilities:

Debentures			202,144				157,279				-				-					Market price
Loans from banks and others (including current maturities)			321,112				-				296,293				-			Discounting future cash flows by the market interest rate on the date of measurement.		Discount rate of Euribor+ 2%-2.5% with a zero floor, fixed rate for several years 3.1%-6% Linkage to Euribor, 2.75%-4.78% Linkage to Consumer price index in Israel, Floating interest rate based on the Bank of Israel Rate plus a spread of 4.35%, fixed rate of 2.58%-5.5%, Euribor+ 5.27% and 7% Linkage to Consumer price index in Israel.
			523,256				157,279				296,293				-

Schedule of Fair Values Hierarchy

Level 3: inputs that are not based on observable market data (unobservable inputs).

June 30, 2025

Level 1

Level 2

Level 3

Total

Valuation techniques for

€ in thousands

determining fair value

Warrants

(844

)

(1,032

)

-

(1,876

)

Level 1 - Fair value is measured at trade market.
Level 2 - Fair value is measured by using the binomial option pricing model.

Swap contracts

-

646

-

646

Fair value is measured by discounting the future cash flows, over the period of the contract and using market interest rates appropriate for similar instruments, including the adjustment required for the parties’ credit risks.

Forward contracts

-

442

-

442

Fair value is measured on the basis of discounting the difference between the forward price in the contract and the current forward price for the residual period until redemption using market interest rates appropriate for similar instruments, including the adjustment required for the parties’ credit risks.

Financial power swap

-

-

14,261

14,261

Fair value is measured by discounting the future fixed and assessed cash flows over the period of the contract and using market interest rates appropriate for similar instruments. The value is adjusted for the parties’ credit risks.

Schedule of Reconciliation Financial Instruments Carried at Fair Value

The table hereunder presents a reconciliation from the beginning balance to the ending balance of financial instruments carried at fair value in level 3 of the fair value hierarchy:

		Financial assets
		Financial power swap
		€ in thousands
Balance as at December 31, 2024			13,427

Total income recognized in profit or loss			(2,563	)

Total income recognized in other comprehensive income			3,397

Balance as at June 30, 2025			14,261