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Financial Assets and Financial Liabilities
 6 Months Ended
Jun. 30, 2023
Financial Assets and Financial Liabilities  
Financial assets and financial liabilities
6.Financial assets and financial liabilities

 

Set out below is an overview of financial assets and liabilities, other than cash and cash equivalents, held by the Group as of June 30, 2023 and December 31, 2022:

 

   As of
June 30,
2023
(unaudited)		   As of
December 31,
2022		 
   (in €) 
Financial assets at amortized cost        
Non-current financial assets   18,951,267    2,900,902 
Financial assets from government grants   5,193,245    732,971 
Other current financial assets   77,601,286    64,791,088 
Financial liabilities at amortized cost          
Liabilities from government grants   801,632    6,209,266 
Trade and other payables   5,200,809    4,987,538 

 

As of June 30, 2023, the fair value of current and non-current financial assets (primarily quoted debt securities) amounted to €100.7 million (Level 1). The Group’s debt instruments at amortized cost consist solely of quoted securities that are graded highly by credit rating agencies such as S&P Global and, therefore, are considered low credit risk investments.

 

As of June 30, 2023, liabilities from government grants amounted to €0.8 million. Liabilities from government grants partly comprise funds received for advance payments to third parties. If goods or services from such third parties have not been received, corresponding amounts are not recognized as other income. The Company’s right to retain these funds is contingent on meeting all grant conditions.