Revision of historical accounting treatment – as restated (Tables)
|
12 Months Ended |
Dec. 31, 2025 |
|---|
| Notes and other explanatory information [abstract] |
|
| Effect on Statement of Financial Position |
Effect on Statement of Financial Position
At 31 December 2023
| | |
As previously reported | | |
Adjustment | | |
Restated | |
| | |
| | |
| | |
| |
| Intangible assets | |
€ | 65,000,000 | | |
€ | (62,205,721 | ) | |
€ | 2,794,279 | |
| Share premium | |
€ | 64,877,415 | | |
€ | (61,951,696 | ) | |
€ | 2,925,719 | |
| Deficit | |
| (5,308,332 | ) | |
| (254,025 | ) | |
| (5,562,357 | ) |
At 31 December 2024
| | |
As previously reported | | |
Adjustment | | |
Restated | |
| | |
| | |
| | |
| |
| Intangible Assets | |
€ | 65,000,000 | | |
€ | (62,510,552 | ) | |
€ | 2,489,448 | |
| Share premium | |
€ | 71,347,078 | | |
€ | (61,951,696 | ) | |
€ | 9,395,382 | |
| Deficit | |
| (6,628,685 | ) | |
| (558,856 | ) | |
| (7,187,541 | ) |
At 31 December 2025
| | |
As previously reported | | |
Adjustment | | |
Restated | |
| | |
| | |
| | |
| |
| Intangible Assets | |
€ | 65,000,000 | | |
€ | (62,815,382 | ) | |
€ | 2,184,618 | |
| Share premium | |
€ | 71,347,078 | | |
€ | (61,951,696 | ) | |
€ | 9,395,382 | |
| Deficit | |
| (7,452,662 | ) | |
| (863,686 | ) | |
| (8,316,348 | ) |
|
| Effect on Statements of Cash Flows |
Effect on Statements of Cash Flows
At 31 December 2023
| | |
As previously reported | | |
Adjustment | | |
Restated | |
| | |
| | |
| | |
| |
| Net loss | |
€ | (5,308,332 | ) | |
€ | (254,025 | ) | |
€ | (5,562,357 | ) |
At 31 December 2024
| | |
As previously reported | | |
Adjustment | | |
Restated | |
| | |
| | |
| | |
| |
| Net loss | |
€ | (1,320,353 | ) | |
€ | (304,830 | ) | |
€ | (1,625,183 | ) |
At 31 December 2025
| | |
As previously reported | | |
Adjustment | | |
Restated | |
| | |
| | |
| | |
| |
| Net loss | |
€ | (823,977 | ) | |
€ | (304,830 | ) | |
€ | (1,128,807 | ) |
|
| Reconciliation of Intangible Asset Balance |
Reconciliation of Intangible Asset Balance
| | |
2023 | | |
2024 | | |
2025 | |
| | |
| | |
| | |
| |
| Carrying value previously reported | |
€ | 65,000,000 | | |
€ | 65,000,000 | | |
€ | 65,000,000 | |
| Carrying value adjustment | |
| (61,951,696 | ) | |
| (61,951,696 | ) | |
| (61,951,696 | ) |
| Cumulative amortization adjustment | |
€ | (254,025 | ) | |
€ | (558,856 | ) | |
€ | (863,686 | ) |
| Restated carrying value | |
| 2,794,279 | | |
| 2,489,448 | | |
| 2,184,618 | |
|
| Effect on Profit or Loss |
Effect on Profit or Loss
At 31 December 2023
| | |
As previously reported | | |
Adjustment | | |
Restated | |
| | |
| | |
| | |
| |
| Amortization expense | |
€ | – | | |
€ | (254,025 | ) | |
€ | (254,025 | ) |
| Net loss | |
€ | (5,308,332 | ) | |
€ | (254,025 | ) | |
€ | (5,562,357 | ) |
| Net loss per common share: Basic and diluted |
|
€ |
(0.35 |
) |
|
€ |
(0.01 |
) |
|
€ |
(0.36 |
) |
At 31 December 2024
| | |
As previously reported | | |
Adjustment | | |
Restated | |
| | |
| | |
| | |
| |
| Amortization expense | |
€ | – | | |
€ | (304,830 | ) | |
€ | (304,830 | ) |
| Net loss | |
€ | (1,320,353 | ) | |
€ | (304,830 | ) | |
€ | (1,625,183 | ) |
| Net loss per common share: Basic and diluted |
|
€ |
(0.06) |
|
|
€ |
(0.01 |
) |
|
€ |
(0.07 |
) |
At 31 December 2025
| | |
As previously reported | | |
Adjustment | | |
Restated | |
| | |
| | |
| | |
| |
| Amortization expense | |
€ | – | | |
€ | (304,830 | ) | |
€ | (304,830 | ) |
| Net loss | |
€ | (823,977 | ) | |
€ | (304,830 | ) | |
€ | (1,128,807 | ) |
| Net loss per common share: Basic and diluted |
|
€ |
(0.03) |
|
|
€ |
(0.02 |
) |
|
€ |
(0.05 |
) |
|