Investments accounted for using the equity method (Tables)

12 Months Ended

Dec. 31, 2025


		December 31,		December 31,		December 31,
(in thousands of euros)		2023		2024		2025
Intangible assets		20,278		16,984		12,729
Total non-current assets		20,278		16,984		12,729
Other current assets		44		81		102
Cash and cash equivalents		1,082		1,785		81
Total current assets		1,126		1,866		183
Deferred assets		41		2		—
Total assets		21,444		18,851		12,912

Capital stock		640		552		489
Capital reserve		22,655		21,489		8,267
Capital surplus-others		—		816		10,259
Earnings brought forward		(178)		(1,089)		(2,745)
Net loss for the period		(1,111)		(3,277)		(3,504)
Treasury Shares		(812)		—		—
Shareholders’ equity		21,194		18,490		12,766
Trade payables		237		353		134
Other current liabilities		13		8		12
Total current liabilities		250		361		146
Total equity and liabilities		21,444		18,851		12,912

Opening net assets		22,645		21,122		18,368
Loss for the period⁽¹⁾		(879)		(3,277)		(3,816)
Other comprehensive income		247		(920)		(1,786)
Capital variations		(819)		1,566		—
Closing net assets		21,194		18,490		12,766

Group’s share in %		15	%	15	%	15	%
(in thousands of euros)
Group’s share		3,267		2,707		1,869
Elimination of unrealized profit on downstream sales		(1,881)		(1,604)		(1,378)
Goodwill		38		37		37
Carrying amount		1,425		1,139		527

⁽¹⁾Refer to Note 23 – Share of net profit (loss) - equity method