Operating income

12 Months Ended

Dec. 31, 2024

Operating income is composed as below:


(amounts in thousands of euros)
OPERATING INCOME	YEAR ENDED DECEMBER 31, 2022	YEAR ENDED DECEMBER 31, 2023	YEAR ENDED DECEMBER 31, 2024
Research tax credit ("CIR")	4,476	4,493	6,651
Subsidies	29	81	4,140
Other	78	47	1,657
Total operating income	4,583	4,621	12,449

Operating income is composed as follows:

Research tax credit (“CIR”)

The Group carries out research and development projects. As such, it has benefited from a research tax credit for the years ended

December 31, 2022, 2023 and 2024 for an amount of €4,476 thousand, €4,493 thousand and €5,668 thousand, respectively (see Note

4.9). During the year ended December 31, 2024, the Group also received an additional tax credit payment related to the 2021 tax year

for an amount of €984 thousand after a claim from the Group following a clarification of "public subsidy" definition.

Subsidies

Subsidies primarily relate to the Bpifrance RNP-VIR and CARENA conditional advances, the repayments of which were partly

waived by Bpifrance in June 2024, for €1,872 thousand and €2,251 thousand respectively (see Notes 3.3 and 15.7).

Other

For the year ended December 31, 2024, the line item "Other" mainly includes issuance, cancellation and depositary service fees

collected from ADSs holders by Citibank, who is acting as the Group's exclusive depositary for its publicly listed and freely traded

ADSs. As part of the depositary agreement between Citibank and the Group, the latter is entitled to receive a portion of the

aforementioned fees collected by Citibank.