| Commitments |
A. Commitments
1. Operating contracts or services
The Group enters into contracts in the normal course
of business with CROs and clinical sites for the conduct of clinical trials, professional consultants for expert advice and other vendors
for clinical supply manufacturing or other services. These contracts can usually be terminated with 30 to 180 days notice. In addition
to this minimum duration, these contracts require full payment only for services already rendered.
During 2025, the Group did not have any commitments
to purchase property, plant and equipment or patents and trademarks (respectively nil in 2024).
2. Lease obligations
The maturity analysis of lease liabilities is disclosed
in the following table:
| Maturity analysis for capitalized leases in 2025 | |
Contractual
minimum lease
obligations | | |
Effect of discounting | | |
Lease liabilities | |
| | |
| | |
(in €) | | |
| |
| Within one year | |
| 319,916 | | |
| 62,973 | | |
| 256,943 | |
| After one year but not more than five years | |
| 760,338 | | |
| 119,365 | | |
| 640,973 | |
| More than five years | |
| — | | |
| — | | |
| — | |
| Total | |
| 1,080,254 | | |
| 182,338 | | |
| 897,916 | |
| Maturity analysis for capitalized leases in 2024 | |
Contractual
minimum lease
obligations | | |
Effect of discounting | | |
Lease liabilities | |
| | |
| | |
(in €) | | |
| |
| Within one year | |
| 416,347 | | |
| 10,327 | | |
| 406,020 | |
| After one year but not more than five years | |
| 405,723 | | |
| 6,656 | | |
| 399,066 | |
| More than five years | |
| — | | |
| — | | |
| — | |
| Total | |
| 822,070 | | |
| 16,983 | | |
| 805,086 | |
| Maturity analysis for all lease obligations in 2025 | |
Total | | |
Low value
leases | | |
Short-term
leases | | |
Capitalized
leases | |
| | |
| | |
| | |
| | |
| |
| Within one year | |
| 331,255 | | |
| 7,378 | | |
| 3,961 | | |
| 319,916 | |
| After one year but not more than five years | |
| 775,557 | | |
| 15,219 | | |
| — | | |
| 760,338 | |
| More than five years | |
| — | | |
| — | | |
| — | | |
| — | |
| Total | |
| 1,106,812 | | |
| 22,597 | | |
| 3,961 | | |
| 1,080,254 | |
| Maturity analysis for all lease obligations in 2024 | |
Total | | |
Low value
leases | | |
Short-term
leases | | |
Capitalized
leases | |
| | |
| | |
(in €) | | |
| |
| Within one year | |
| 424,328 | | |
| 6,592 | | |
| 1,389 | | |
| 416,347 | |
| After one year but not more than five years | |
| 413,811 | | |
| 8,089 | | |
| — | | |
| 405,722 | |
| More than five years | |
| — | | |
| — | | |
| — | | |
| — | |
| Total | |
| 838,139 | | |
| 14,681 | | |
| 1,389 | | |
| 822,069 | |
Anticipated future lease expenses were converted
with the exchange rate as of December 31, 2025, 1 Euro 1.1750 U.S. dollar.
The Group applies the ‘lease of low-value assets’
recognition exemptions. The Group also applied the ‘short-term lease’ exemption for leases with a maturity of less than 12
months.
|