(Euro thousands)

  ​ ​ ​

Guaranteed

  ​ ​ ​

Secured

  ​ ​ ​

Unsecured

  ​ ​ ​

Total borrowings

At December 31, 2025

3,012

4,013

327,730

334,755

Repayments

(2,602)

(39,054)

(6,025)

(47,681)

Proceeds

—

37,013

70,327

107,340

Net foreign exchange difference

—

110

3,135

3,245

At June 30, 2026

410

2,082

395,167

397,659

​

​

​

​

​

​

​

​

​

Repayable:

​

​

​

​

- Within one year

139

2,082

385,263

387,484

- In the second year

139

—

9,904

10,043

- In the third year

132

—

—

132

Portion classified as current liabilities

(139)

(2,082)

(385,263)

(387,484)

Non-current portion

271

—

9,904

10,175