v3.26.1
Note 6 - Leases
12 Months Ended
Dec. 31, 2025
Notes to Financial Statements  
Lessee, Operating Leases [Text Block]

NOTE 6  LEASES 

 

The Company leases its office and warehouse space. The lease has a remaining life of 5.3 years. The Company accounts for its leases according to ASC 842 Leases. 

 

Maturities of operating lease liabilities were as follows as of December 31, 2025:

 

   

KEUR

 

2026

    167  

2027

    167  

2028

    167  

2029

    167  

2030 and beyond

    223  

Total Lease payments

    891  

Less interest

    317  

Present value of lease payments

    574  

 

Balance Sheet Classification

 

Liability as of December 31, 2025

KEUR

   

Liability as of December 31, 2024

KEUR

 

Current

    70       58  

Long term

    504       572  

Total Lease

    574       630  

 

The lease was calculated over a 122 month period at a weighted average discount rate of 18%.

 

Cash paid to satisfy lease liabilities and building lease expense for the twelve months ended December 31, 2025 and 2024 consisted of: 

 

   

December 31,

 
   

2025
KEUR

   

2024
KEUR

 

Amortization of right-of-use assets

    58       42  

Interest on lease liability

    109       117  

Short term lease costs

    21        

Variable lease costs

    29       10  
Total cash paid to satisfy lease liability and building lease expense     217       169