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Income tax (Tables)

12 Months Ended

Dec. 31, 2025

Income taxes paid (refund) [abstract]

Disclosure of reconciliation of effective income tax (loss)


(In thousands of euros, except percentage)		YEAR ENDED DECEMBER 31, 2023		YEAR ENDED DECEMBER 31, 2024		YEAR ENDED DECEMBER 31, 2025
Loss before tax		(147,740)		(176,242)		(330,254)
Statutory French tax rate		25%		25%		25%
Nominal income tax using statutory French tax rate		36,935		44,061		82,563
Tax effect of:
Tax rates in foreign jurisdictions		—		—		(153)
Share-based payment		(2,045)		(5,056)		(8,849)
CIR		1,123		1,663		765
Transaction costs related to capital increase		3,073		(112)		10,077
Decrease / (increase) in derivatives and other liabilities measured at FVTPL		748		(207)		(17,087)
Non-recognition of deferred tax assets related to tax losses and temporary differences		(39,612)		(40,399)		(61,320)
Other		(222)		49		(148)
Effective income tax (loss)		—		—		(5,848)

Disclosure of deferred tax assets and liabilities by nature


(In thousands of euros)
DEFERRED TAX ASSETS AND LIABILITIES BY NATURE		AS OF DECEMBER 31, 2023		AS OF DECEMBER 31, 2024		AS OF DECEMBER 31, 2025
Retirement benefit obligation		157		189		157
Leases		135		591		476
Other financial liabilities		351		1,678		—
Provisions for AGA taxes		83		142		11,454
Tax losses carryforward		114,946		152,372		228,239
Other items		335		744		1,568
Deferred tax assets		116,006		155,715		241,894
Subsidies		24		12		—
Leases		124		485		396
Royalty certificates		—		—		17,208
Other financial liabilities		285		1,075		—
Other items		10		12		11
Deferred tax liabilities		444		1,584		17,616
Deferred tax assets, net		115,562		154,131		224,279
Unrecognized deferred tax assets		(115,562)		(154,131)		(230,127)
Total deferred taxes, net recognized in the statement of financial position		—		—		(5,848)