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Loan payable
 12 Months Ended
Dec. 31, 2022
Loan payable [Abstract]  
Loan payable

Note 11 — Loan payable

 

  

December 31,

2022

  

December 31,

2021

 
   EUR   EUR 
Unsecured – at amortized cost:        
Small and medium enterprises guarantee fund interest rate: 0.75% per annum (2021: interest rate: 0.75% per annum)   21,916    25,000 
           
Analyzed between:          
Current portion          
Within 1 year   6,203    3,084 
           
Non-current portion          
Within 2 to 5 years   15,713    21,916 
    21,916    25,000 

 

The loan was drawn on June 25, 2020 from an independent third party. The monthly interest rate is 0.0625% and the annualized interest rate is 0.75% per annum. The loan term is 6 years and repayment of principal begins 2 years from the loan drawdown date.