XML 66 R50.htm IDEA: XBRL DOCUMENT

Income taxes (Tables)

12 Months Ended

Dec. 31, 2023

Income taxes

Summary of income taxes are recognized in profit from continuing operations


Income taxes		Years Ended December 31,
in €‘000		2023		2022		2021
Current tax expense:
Current year		9,251		11,540		12,564
Changes in estimates related to prior years		(1,245)		(187)		2,051
Deferred tax expense:
Origination and reversal of temporary differences		1,545		(9,354)		1,567
Tax write-down		3,000		5,300		—
Recognition of previously unrecognized deferred tax assets		—		—		(5,145)
Income tax expense reported in profit from continuing operations		12,551		7,299		11,037

Summary of reconciliation of the changes in the net deferred tax asset (liability) recognized in the consolidated statement of financial position, net


in €‘000		2023		2022
Net deferred tax asset as of January 1,		966		1,430
Additions from business combinations		(340)		(3,140)
Recognized in other comprehensive income		130		(326)
Recognized in profit from continuing operations		(4,545)		4,054
Foreign currency translation adjustment		(1,143)		(1,052)
Net deferred tax asset (liability) as of December 31,		(4,932)		966

Summary of deferred tax assets and (liabilities)


		December 31,
		2023				2022
		Consolidated				Consolidated
		statement of		Consolidated		statement of		Consolidated
		financial		statement of		financial		statement of
in €‘000		position		profit or loss		position		profit or loss
Other assets and prepayments		11,001		1,015		9,986		5,343
Intangible assets		(31,261)		(5,057)		(24,720)		(2,755)
Trade and other payables		9,036		848		8,643		4,331
Tax loss carry-forward		4,843		230		4,612		3,068
Tax step-up (write-down)		7,300		(3,000)		10,300		(5,300)
Other assets non-current		(541)		5,401		(5,941)		(822)
Other		(5,310)		(3,982)		(1,914)		189
Deferred tax income (expense)				(4,545)				4,054
Net deferred tax asset (liability)		(4,932)				966
Reflected in the consolidated statements of financial position as follows:
Deferred tax assets		16,383				27,014
Deferred tax liabilities		(21,315)				(26,048)
Deferred tax asset (liability), net		(4,932)				966

Summary of income tax expense calculated by the applicable tax rate and the effective income tax


		Years Ended December 31,
in €‘000		2023		2022		2021
Net income before tax		47,196		17,790		23,824
Applicable tax rate		14.3	%	14.4	%	14.5	%
Tax expense applying the Company tax rate		(6,744)		(2,562)		(3,454)
Effect of tax losses and tax offsets not recognized as deferred tax assets		(2,276)		1,134		(6,327)
Effect on recognition of deferred tax assets, on previous unused tax losses and tax offsets		—		—		5,145
Changes in estimates related to prior years		1,245		187		(2,051)
Effect of non-deductible expenses		(1,337)		(3,020)		(4,132)
Effect of non-taxable remeasurement of previously held equity-accounted investee		—		1,116		—
Effect of difference to the Company tax rate		517		854		555
Other effects		(956)		292		(773)
Tax write-down		(3,000)		(5,300)		—
Income tax expense		(12,551)		(7,299)		(11,037)
Effective tax rate		26.6	%	41.0	%	46.3	%

Summary of tax loss carryforwards that are not recognized as deferred tax assets


Periods in which tax loss carry-forwards not recognized as deferred tax assets may be used		As of December 31,
in €‘000		2023		2022
Unlimited		105,143		102,450
will expire within 5 years		2,470,875		18,508
will expire thereafter		25,295		2,575,052
Tax loss carry-forward		2,601,313		2,696,010