v3.26.1
INTERIM CONSOLIDATED STATEMENTS OF CASH FLOWS - EUR (€)
€ in Thousands
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
CASH FLOWS FROM OPERATING ACTIVITIES    
Loss before tax for the year € (48,042) € (42,587)
Adjustments for    
Finance income (2,468) (5,480)
Finance expenses 9,421 7,579
Depreciation and impairment of property, plant and equipment and right-of-use assets 1,282 1,071
Amortization of intangible assets 2,246 477
Share-based payment transaction expense 2,442 2,860
Decrease in provisions (374) (596)
Other non-cash items 17 100
Cash used before changes in working capital (35,476) (36,576)
Changes in working capital    
(Increase)/Decrease in inventory 954 (616)
(Increase)/Decrease in trade and other receivables (1,461) 725
Increase/(Decrease) in trade and other liabilities (1,571) 1,472
Cash used from changes in operations (37,554) (34,995)
Income tax paid (575) (258)
Net cash used in operating activities (38,129) (35,253)
CASH FLOWS FROM INVESTING ACTIVITIES    
Purchases of property, plant and equipment (2,008) (761)
Capitalization of intangible assets (159) (1,554)
Purchase of financial assets - current (33,549) (17,549)
Proceeds from sale of financial assets - current 18,000 45,067
Interest income on financial assets 16 1,583
Net cash generated/(used) in investing activities (17,700) 26,786
CASH FLOWS FROM FINANCING ACTIVITIES    
Payment of principal portion of lease liabilities (604) (609)
Proceeds from other loan 13,750  
Transaction costs related to loans and borrowings (20)  
Interests paid (68) (602)
Repayment of recoverable cash advance (49)  
Proceeds from issuance of shares, net of transaction costs 76,041 44
Other financial costs (67) (35)
Net cash generated/(used) from financing activities 88,983 (1,202)
Movement in cash and cash equivalents 33,154 (9,669)
Effect of exchange rates on cash and cash equivalents 960 (1,788)
Cash and cash equivalents at January 1 30,001 34,186
Cash and cash equivalents at June 30 € 64,115 € 22,729