Restatement of previously issued financial statements (Tables)
|
12 Months Ended |
Dec. 31, 2025 |
|---|
| Restatement Of Previously Issued Financial Statements |
|
| Schedule of impact on consolidated statement of profit or loss |
Impact
on consolidated statement of profit or loss and other comprehensive income for the year ended 31 December 2025
Schedule of impact on consolidated statement of profit or loss
| €’000 | |
As previously reported | | |
Adjustment | | |
Restated | |
| Revenue | |
| 14,415 | | |
| - | | |
| 14,415 | |
| Cost of sales | |
| (10,240 | ) | |
| 5 | | |
| (10,235 | ) |
| Gross profit | |
| 4,175 | | |
| 5 | | |
| 4,180 | |
| Other income | |
| 1,358 | | |
| - | | |
| 1,358 | |
| Administration expenses | |
| (11,869 | ) | |
| 173 | | |
| (11,696 | ) |
| Share-based payment expense | |
| (1,562 | ) | |
| - | | |
| (1,562 | ) |
| Impairment expense | |
| (2 | ) | |
| (1,060 | ) | |
| (1,062 | ) |
| Operating loss | |
| (7,898 | ) | |
| (884 | ) | |
| (8,782 | ) |
| Finance income / (costs) | |
| 2,243 | | |
| (3,126 | ) | |
| (883 | ) |
| Interest payable and similar expense | |
| (24 | ) | |
| - | | |
| (24 | ) |
| Derivative financial instruments at FVTPL | |
| 3,392 | | |
| - | | |
| 3,392 | |
| Net finance income / (costs) | |
| 5,611 | | |
| (3,126 | ) | |
| 2,485 | |
| Profit on deconsolidation due to insolvency | |
| 1,225 | | |
| - | | |
| 1,225 | |
| Loss before tax | |
| (1,062 | ) | |
| (4,010 | ) | |
| (5,072 | ) |
| Income tax credit | |
| 110 | | |
| (18 | ) | |
| 92 | |
| Loss for the year | |
| (952 | ) | |
| (4,028 | ) | |
| (4,980 | ) |
| Other comprehensive income: exchange differences on translating foreign operations | |
| - | | |
| (2,289 | ) | |
| (2,289 | ) |
| Total comprehensive loss for the year | |
| (952 | ) | |
| (6,317 | ) | |
| (7,269 | ) |
| Loss attributable to owners of the parent | |
| (1,694 | ) | |
| (2,412 | ) | |
| (4,106 | ) |
| (Loss) / profit attributable to non-controlling interests | |
| 742 | | |
| (1,616 | ) | |
| (874 | ) |
| Total comprehensive loss attributable to owners of the parent | |
| (1,694 | ) | |
| (4,059 | ) | |
| (5,753 | ) |
| Total comprehensive (loss) / income attributable to non-controlling interests | |
| 742 | | |
| (2,258 | ) | |
| (1,516 | ) |
| Basic and diluted loss per share (€) | |
| (1.27 | ) | |
| (1.80 | ) | |
| (3.07 | ) |
Impact
on consolidated statement of profit or loss for the year ended 31 December 2024
| €’000 | |
As
previously
reported | | |
Adjustment | | |
Restated | |
| Revenue | |
| 1,605 | | |
| - | | |
| 1,605 | |
| Cost of sales | |
| (1,168 | ) | |
| - | | |
| (1,168 | ) |
| Gross profit | |
| 437 | | |
| - | | |
| 437 | |
| Other income / (expenses) | |
| 881 | | |
| - | | |
| 881 | |
| Administration expenses | |
| (15,873 | ) | |
| (587 | ) | |
| (16,460 | ) |
| Share-based payments expense | |
| (2,189 | ) | |
| - | | |
| (2,189 | ) |
| Operating expenses | |
| (17,181 | ) | |
| (586 | ) | |
| (17,767 | ) |
| Operating loss before interest | |
| (16,744 | ) | |
| (586 | ) | |
| (17,330 | ) |
| Finance income / (costs) | |
| 223 | | |
| 70 | | |
| 293 | |
| Interest payable and similar expense | |
| (531 | ) | |
| 6 | | |
| (525 | ) |
| Derivative financial instruments movements | |
| 627 | | |
| (165 | ) | |
| 462 | |
| Net finance income / (costs) | |
| 319 | | |
| (89 | ) | |
| 230 | |
| Profit / (loss) on deconsolidation due to
insolvency | |
| 2,719 | | |
| (873 | ) | |
| 1,846 | |
| Loss before tax | |
| (13,706 | ) | |
| (1,548 | ) | |
| (15,254 | ) |
| Income tax expense | |
| (25 | ) | |
| - | | |
| (25 | ) |
| Net loss for the year | |
| (13,731 | ) | |
| (1,548 | ) | |
| (15,279 | ) |
|
| Schedule of impact on consolidated statement of financial position |
Impact
on consolidated statement of financial position as at 31 December 2025
Schedule of impact on consolidated statement of financial position
| €’000 | |
As previously reported | | |
Adjustment | | |
Restated | |
| Intangible assets | |
| 21,522 | | |
| (2,226 | ) | |
| 19,296 | |
| Goodwill | |
| 6,602 | | |
| (1,743 | ) | |
| 4,859 | |
| Total non-current assets | |
| 29,612 | | |
| (3,969 | ) | |
| 25,643 | |
| Total assets | |
| 36,039 | | |
| (3,969 | ) | |
| 32,070 | |
| Other payables – long-term | |
| 3,067 | | |
| (201 | ) | |
| 2,866 | |
| Total non-current liabilities | |
| 3,348 | | |
| (201 | ) | |
| 3,147 | |
| Total liabilities | |
| 15,534 | | |
| (201 | ) | |
| 15,333 | |
| Net assets | |
| 20,505 | | |
| (3,768 | ) | |
| 16,737 | |
Impact
on consolidated statement of financial position as at 31 December 2024
| €’000 | |
As previously reported | | |
Adjustment | | |
Restated | |
| Property,
plant and equipment | |
| 307 | | |
| - | | |
| 307 | |
| Goodwill | |
| 18,990 | | |
| (12,388 | ) | |
| 6,602 | |
| Customer relationships | |
| - | | |
| 19,429 | | |
| 19,429 | |
| Trade names | |
| - | | |
| 4,529 | | |
| 4,529 | |
| Related party receivables | |
| 1,827 | | |
| (1,827 | ) | |
| - | |
| Total non-current assets | |
| 21,124 | | |
| 9,743 | | |
| 30,867 | |
| Inventory | |
| 1,130 | | |
| 61 | | |
| 1,191 | |
| Other current assets | |
| 1,846 | | |
| (1,846 | ) | |
| - | |
| Total current assets | |
| 7,002 | | |
| (1,791 | ) | |
| 5,211 | |
| Total assets | |
| 28,126 | | |
| 7,952 | | |
| 36,078 | |
| Other payables – long-term | |
| 4,260 | | |
| 2,198 | | |
| 6,458 | |
| Total non-current liabilities | |
| 4,415 | | |
| 2,198 | | |
| 6,614 | |
| Trade and other payables | |
| 9,133 | | |
| 1,047 | | |
| 10,180 | |
| Total current liabilities | |
| 13,011 | | |
| 1,217 | | |
| 14,228 | |
| Total liabilities | |
| 17,426 | | |
| 3,415 | | |
| 20,841 | |
| Net assets | |
| 10,699 | | |
| 4,537 | | |
| 15,236 | |
|
| Schedule of detailed information about impact on equity |
Impact
on equity as at 31 December 2025
Schedule of detailed information about impact on equity
| €’000 | |
As previously reported | | |
Adjustment | | |
Restated | |
| Share premium | |
| 240,680 | | |
| 1,324 | | |
| 242,004 | |
| Other equity reserve | |
| 6,797 | | |
| (1,802 | ) | |
| 4,995 | |
| Foreign currency translation reserve | |
| - | | |
| (1,647 | ) | |
| (1,647 | ) |
| Retained earnings and profit and loss | |
| (239,816 | ) | |
| (2,411 | ) | |
| (242,227 | ) |
| Non-controlling interests | |
| 4,343 | | |
| 768 | | |
| 5,111 | |
| Total equity | |
| 20,505 | | |
| (3,768 | ) | |
| 16,737 | |
Impact
on equity as at 31 December 2024
| €’000 | |
As previously reported | | |
Adjustment | | |
Restated | |
| Convertible note reserve | |
| 29 | | |
| (5 | ) | |
| 24 | |
| Retained earnings and profit and loss | |
| (236,436 | ) | |
| (1,549 | ) | |
| (237,985 | ) |
| Non-controlling interests | |
| (2,091 | ) | |
| 6,090 | | |
| 3,999 | |
| Total equity | |
| 10,699 | | |
| 4,537 | | |
| 15,236 | |
|