Intangible assets

6 Months Ended

Jun. 30, 2026

8.Intangible assets


		Development		Patents and
(in EUR 000)		cost		licenses		Total
Cost
Opening value at January 1, 2025		53,410		591		54,001
Additions		1,507		—		1,507
Other movements		(4)		—		(4)
Cost at June 30, 2025		54,913		591		55,504
Opening value at January 1, 2026		55,367		591		55,958
Additions		154		—		154
Cost at June 30, 2026		55,521		591		56,112
Amortization
Opening amortization at January 1, 2025		(3,452)		(168)		(3,620)
Amortization		(456)		(21)		(477)
Amortization at June 30, 2025		(3,908)		(189)		(4,097)
Opening amortization at January 1, 2026		(5,639)		(211)		(5,850)
Amortization		(2,225)		(21)		(2,246)
Amortization at June 30, 2026		(7,864)		(232)		(8,096)
Net book value at June 30, 2025		51,005		402		51,407
Net book value at June 30, 2026		47,657		359		48,016

The Company develops The Genio system. The Company started amortizing the first-generation Genio system in 2021. Following the FDA approval for the Genio system on August 8, 2025, the amortization of the related intangible assets commenced in Q3 2025. Due to the finalization of one of the clinical studies the amortization of the related intangible assets started in Q2 2026. Total amortization amounted to €2.2 million for the six months ended June 30, 2026 (2025: €456,000) and is included in research and development expense.

The Company continues to incur in 2026 development expenses with regard to the improved second-generation Genio system. The total capitalized development expenses amounted to €154,000 and €1.5 million for the six months ended June 30, 2026, and 2025, respectively. The development of the ongoing R&D projects is expected to be finalized in 2026.