Leases |
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| LEASES | NOTE 16 – LEASES
As of June 30, 2026 and December 31, 2025, the Company had the following lease obligations:
On June 1, 2022, the Company entered into an office lease agreement under a two-year term extensible for three years upon expiry and monthly lease payment of €3,384 during the first year and €3,492 during the second year. On April 1, 2024, the Company extended the office lease for one additional year starting from June 2024 through May 2025 with a monthly payment of €3,618.
On September 26, 2022, the Company entered into a vehicle lease agreement under a three-year term and monthly lease payment of €420.
On November 15, 2022, the Company entered into a vehicle lease agreement under a three-year term and monthly lease payment of €417. The lease was cancelled on January 1, 2025. During the six months ended June 30, 2025, the Company recognized gain from cancellation of the lease of €137.
On August 17, 2023, the Company entered into a vehicle lease agreement under a three-year term and monthly lease payment of €572.
On February 2, 2024, the Company entered into a vehicle lease agreement under a three-year term and monthly lease payment of €458.
On April 27, 2024, the Company entered into a vehicle lease agreement under a four-year term and monthly lease payment of €619.
The following table summarizes the maturity of our lease liabilities as of June 30, 2026:
As of June 30, 2026 and December 31, 2025, the Company has right-of-use assets as follows:
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