v3.25.4

Property, Plant and Equipment | 12 Months Ended
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Dec. 31, 2025
Property, plant and equipment [abstract] |
Property, Plant and Equipment | Note 12—Property, Plant and Equipment
(EUR’000) |  | Plant and Machinery |  |  | Other Equipment |  |  | Leasehold Improve- ments |  |  | Right-of-Use Assets |  |  | Total |
Cost |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
January 1, 2024 |  |  | 27,436 |  |  |  | 11,420 |  |  |  | 19,375 |  |  |  | 123,920 |  |  |  | 182,151 |
Additions |  |  | 299 |  |  |  | 951 |  |  |  | 76 |  |  |  | 861 |  |  |  | 2,187 |
Disposals |  |  | (5,995 | ) |  |  | (1,635 | ) |  |  | — |  |  |  | (89 | ) |  |  | (7,719 | )
Transferred |  |  | 66 |  |  |  | (66 | ) |  |  | — |  |  |  | — |  |  |  | — |
Foreign exchange translation |  |  | 127 |  |  |  | 306 |  |  |  | 847 |  |  |  | 5,462 |  |  |  | 6,742 |
December 31, 2024 |  |  | 21,933 |  |  |  | 10,976 |  |  |  | 20,298 |  |  |  | 130,154 |  |  |  | 183,361 |
Additions |  |  | 996 |  |  |  | 5,704 |  |  |  | 1,678 |  |  |  | 78,646 |  |  |  | 87,024 |
Transferred (1) |  |  | (162 | ) |  |  | (1,311 | ) |  |  | (13,658 | ) |  |  | (21,264 | ) |  |  | (36,395 | )
Foreign exchange translation |  |  | (2 | ) |  |  | (517 | ) |  |  | (1,271 | ) |  |  | (9,299 | ) |  |  | (11,089 | )
December 31, 2025 |  |  | 22,765 |  |  |  | 14,852 |  |  |  | 7,047 |  |  |  | 178,237 |  |  |  | 222,901 |
Depreciation and impairment |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
January 1, 2024 |  |  | (12,784 | ) |  |  | (7,175 | ) |  |  | (10,946 | ) |  |  | (40,612 | ) |  |  | (71,517 | )
Depreciation charge |  |  | (2,330 | ) |  |  | (1,322 | ) |  |  | (1,283 | ) |  |  | (12,312 | ) |  |  | (17,247 | )
Disposals |  |  | 5,296 |  |  |  | 1,501 |  |  |  | — |  |  |  | 88 |  |  |  | 6,885 |
Foreign exchange translation |  |  | (112 | ) |  |  | (194 | ) |  |  | (556 | ) |  |  | (1,906 | ) |  |  | (2,768 | )
December 31, 2024 |  |  | (9,930 | ) |  |  | (7,190 | ) |  |  | (12,785 | ) |  |  | (54,742 | ) |  |  | (84,647 | )
Depreciation charge |  |  | (2,325 | ) |  |  | (1,301 | ) |  |  | (1,230 | ) |  |  | (12,350 | ) |  |  | (17,206 | )
Impairment charge |  |  | — |  |  |  | (196 | ) |  |  | (618 | ) |  |  | (6,694 | ) |  |  | (7,508 | )
Impairment reversal |  |  | 16 |  |  |  | 201 |  |  |  | 2,008 |  |  |  | — |  |  |  | 2,225 |
Transferred (1) |  |  | 529 |  |  |  | 731 |  |  |  | 11,667 |  |  |  | 12,797 |  |  |  | 25,724 |
Foreign exchange translation |  |  | (18 | ) |  |  | 368 |  |  |  | 793 |  |  |  | 3,847 |  |  |  | 4,990 |
December 31, 2025 |  |  | (11,728 | ) |  |  | (7,387 | ) |  |  | (165 | ) |  |  | (57,142 | ) |  |  | (76,422 | )
Carrying amount |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
December 31, 2024 |  |  | 12,003 |  |  |  | 3,786 |  |  |  | 7,513 |  |  |  | 75,412 |  |  |  | 98,714 |
December 31, 2025 |  |  | 11,037 |  |  |  | 7,465 |  |  |  | 6,882 |  |  |  | 121,095 |  |  |  | 146,479 |
(1) Includes transfer from right-of-use assets to finance lease receivables. For further details, refer to Note 17, “Financial Assets and Liabilities.” The impairment charge for the year ended December 31, 2025, relates to change in activities at one of the Company’s sites. The site is partially subleased (commencing in 2026) and is recognized as a right-of-use asset with a carrying amount of €30.9 million as of December 31, 2025. The impairment charge represents the difference between the carrying amount of the right‑of‑use subleased asset and the lease receivable, subsequently recognized at the lease commencement date. Depreciation charges are specified below:
(EUR’000) |  | 2025 |  |  | 2024 |  |  | 2023 |
Depreciation charges |  |  |  |  |  |  |  |  |
Cost of sales (1) |  |  | 1,835 |  |  |  | 3,197 |  |  |  | 2,509 |
Research and development expenses |  |  | 8,468 |  |  |  | 7,453 |  |  |  | 10,296 |
Selling, general, and administrative expenses |  |  | 6,903 |  |  |  | 6,597 |  |  |  | 5,623 |
Total depreciation charges |  |  | 17,206 |  |  |  | 17,247 |  |  |  | 18,428 |
(1) Includes depreciation charges capitalized as part of inventories.

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