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Related party transactions

12 Months Ended

Dec. 31, 2025

Related party transactions

Related party transactions

26Related party transactions

The compensation of key management personnel of the Group is as follows:

​

​	​	​	​	​	​	​
​	​ ​ ​	For the year ended December 31
in 000€	​	2025	​ ​ ​	2024	​ ​ ​	2023
Short-term employee benefits		3,184	​	2,531	​	2,554
Post-employment benefits		25	​	65	​	73
Total		3,209	​	2,596	​	2,627
Warrants granted		25,000	​	—	​	350,000
Warrants forfeited	​	(25,000)	​	—	​	—
Warrants outstanding		350,000	​	350,000	​	350,000

​

The amounts disclosed in the table are the amounts recognized as an expense during the reporting period related to key management personnel (senior management and executive committee members). In the year ending December 31, 2023, a total of 350,000 warrants were granted to key management personnel, of which 25,000 were forfeited during 2025. An additional 25,000 warrants were granted in 2025 bringing the total outstanding balance back to 350,000 at December 31, 2025.

Compensation expense recognized in the year ending December 31, 2025 related to share-based payment arrangements amounted to K€266 (2024: K€285; 2023: K€47).

The following table provides the total amount of transactions that have been entered into with related parties for the relevant financial year:

​

​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​
​	​ ​ ​	Sale of	​ ​ ​	Purchases	​ ​ ​	​	​ ​ ​	Interest	​ ​ ​	Right-of-	​ ​ ​	​	​ ​ ​	Lease	​ ​ ​	Other
in 000€	​	goods to	​	from	​	Depreciation	​	expense	​	Use Assets	​	Receivables	​	liabilities	​	liabilities
Non-executive directors of the Group		​		​		​		​		​		​		​		​
2025		—		232		—		—		—		—		—		76
2024		—		145		—		—		—		—		—		—
2023		—		172		—		—		—		—		—		64
​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​
Shareholders of the Group		​		​		​		​		​		​		​		​
2025		—		326		—		1		—		—		—		100
2024		—		119		—		2		—		—		—		67
2023		—		97		—		3		—		—		—		64
​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​
Joint ventures		​		​		​		​		​		​		​		​
2025		—		—		—		—		—		—		—		—
2024		—		—		—		—		—		—		—		—
2023		—		—		—		—		—		—		—		—
​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​
Non-controlling interests		​		​		​		​		​		​		​		​
2025		—		—		—		—		—		—		—		—
2024		—		—		—		—		—		—		—		—
2023		—		—		—		—		—		—		—		—

​

Related party – Lunebeke NV / Ailanthus NV

Lunebeke NV is owned by a shareholder and director of the Group and was established on December 29, 2020 following a partial demerger of Ailanthus NV (a former related party of the Group that merged with Materialise NV subsequent to a partial demerger). The activities taken over by Lunebeke NV through the partial demerger of Ailanthus NV were taken over from Ailanthus NV with retro-active effect as of October 1^st, 2021. The Group rents apartments on a regular basis from Lunebeke NV in order to host our employees from foreign subsidiaries who are visiting our headquarters in Leuven. The total amount paid to Lunebeke NV for rent in 2025 was K€314 (2024: K€119; 2023: K€97).

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