| Summary of Carrying Amounts and Fair values of Group's Financial Instruments |
Set out below are the carrying amounts and fair values of the Group’s financial instruments that are carried in the consolidated financial statements as of December 31, 2025 and 2024, respectively.
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Carrying amount per measurement category |
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Financial assets as of December 31,
2025 |
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Financial liabilities as of December 31,
2025 |
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(Euros in thousands) |
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At fair value
through profit
and loss |
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At amortized
cost |
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At fair value
through profit
and loss |
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At amortized
cost |
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IFRS 7 not
applicable and
IFRS 16 |
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December 31, 2025 |
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Current/non-current assets |
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Cash and cash equivalents |
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— |
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345,918 |
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— |
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— |
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— |
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345,918 |
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Short-term deposits* |
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— |
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123,419 |
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— |
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— |
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— |
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123,419 |
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Accounts receivables |
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— |
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6,099 |
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— |
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— |
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— |
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6,099 |
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Other current/non-current assets* |
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— |
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2,388 |
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— |
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— |
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28,034 |
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30,422 |
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Current/non-current liabilities |
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Accounts payables |
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— |
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— |
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— |
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18,832 |
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— |
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18,832 |
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Other current liabilities |
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— |
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— |
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— |
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50 |
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5,557 |
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5,607 |
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Lease liabilities |
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— |
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— |
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— |
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— |
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15,635 |
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15,635 |
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Total |
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— |
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477,824 |
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— |
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18,882 |
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49,226 |
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Carrying amount per measurement category |
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Financial assets as of December 31, 2024 |
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Financial liabilities as of December 31, 2024 |
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(Euros in thousands) |
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At fair value
through profit
and loss |
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At amortized
cost |
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At fair value
through profit
and loss |
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At amortized
cost |
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IFRS 7 not
applicable and
IFRS 16 |
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December 31, 2024 |
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Current/non-current assets |
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Cash and cash equivalents |
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— |
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236,748 |
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— |
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— |
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— |
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236,748 |
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Short-term deposits* |
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— |
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367,704 |
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— |
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— |
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— |
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367,704 |
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Accounts receivables |
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— |
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5,857 |
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— |
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— |
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— |
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5,857 |
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Other current/non-current assets* |
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— |
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1,244 |
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— |
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— |
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19,252 |
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20,496 |
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Current/non-current liabilities |
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Accounts payables |
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— |
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— |
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— |
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20,693 |
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— |
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20,693 |
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Other current liabilities |
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— |
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— |
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— |
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50 |
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6,755 |
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6,805 |
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Liabilities for warrants |
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— |
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— |
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1,730 |
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— |
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— |
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1,730 |
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Lease liabilities |
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— |
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— |
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— |
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— |
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16,203 |
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16,203 |
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Total |
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— |
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611,553 |
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1,730 |
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20,743 |
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42,210 |
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* “Short-term deposits” are classified within the balance sheet item “other financial assets”. Other current/non-current assets classified as financial instruments comprise mainly of deposits.
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| Summary of Net Result from Financial Instruments by Measurement Categories |
The Group’s net results from financial instruments by measurement categories are disclosed below for the years ended December 31, 2025, 2024 and 2023, respectively.
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Year ended December 31, |
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(Euros in thousands) |
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2025 |
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2024 |
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2023 |
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Financial assets at amortized cost |
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(17,544 |
) |
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43,583 |
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7,612 |
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Financial liabilities at amortized cost |
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(946 |
) |
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(886 |
) |
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(802 |
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Financial liabilities at fair value through profit or loss |
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1,730 |
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17,264 |
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(2,079 |
) |
Total |
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(16,760 |
) |
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59,961 |
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4,731 |
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| Summary of changes of the liabilities from financing activities classified as cash effective and non-cash effective |
The following table shows the changes of the liabilities from financing activities, classified as cash effective and non-cash effective as of December 31, 2025 and 2024, respectively.
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(Euros in thousands) |
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January 1, 2025 |
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Cash effective |
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Non-cash effective |
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December 31, 2025 |
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Liabilities for warrants |
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1,730 |
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— |
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(1,730 |
) |
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— |
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Lease Liabilities |
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16,203 |
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(2,959 |
) |
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2,391 |
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15,635 |
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Total |
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17,933 |
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(2,959 |
) |
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661 |
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15,635 |
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(Euros in thousands) |
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January 1, 2024 |
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Cash effective |
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Non-cash effective |
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December 31, 2024 |
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Liabilities for warrants |
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18,993 |
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— |
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(17,263 |
) |
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1,730 |
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Lease Liabilities |
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15,402 |
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(2,012 |
) |
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2,813 |
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16,203 |
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Total |
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34,395 |
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(2,012 |
) |
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(14,450 |
) |
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17,933 |
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