​

  ​ ​ ​

December 31, 2025

  ​ ​ ​

December 31, 2024

  ​ ​ ​

December 31, 2023

Net loss from continuing operations before tax

​

(6,842,588)

​

(4,909,342)

​

(2,500,153)

Net gain / (loss) before tax from discontinued operations

​

114,342

​

11,965,129

​

(8,056,074)

Net gain / (loss) before tax

(6,728,246)

7,055,787

(10,556,227)

Tax calculated at a tax rate of 14.7% for 2024 and 2025 (13.99% for 2023)

989,052

(1,037,201)

1,476,816

Effect of different tax rates in USA and France

(1,753)

(4,755)

(178)

Difference related to investments accounted for using the equity method

​

(589,289)

​

(320,042)

​

—

Net loss incurred by Neurosterix Pharma Sàrl from March 19 2024 to April 1, 2024 ¹

—

(79,270)

—

Sale of treasury shares by a subsidiary, recognized as financial loss / (income) in standalone financial statements

​

(151,997)

​

(30,103)

​

485,867

Deductible expenses charged against equity for issuance of shares

​

6,270

​

1,758

​

37,374

Expenses not deductible for tax purposes

(9,458)

(229,815)

(321,494)

Total tax not recognized as deferred tax (asset) / liability

(242,285)

1,699,428

(1,678,385)

Income tax expense for continuing operations

​

—

​

—

​

—

Income tax expense for discontinued operations

—

—

—

(1)

The Group lost the control of its subsidiary Neurosterix Pharma Sàrl on April 2, 2024, as part of the divestment of a part of its business (note 22).