XML 27 R7.htm IDEA: XBRL DOCUMENT v3.23.1
Consolidated Statements of Cash Flows - EUR (€)
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Statement of cash flows [abstract]      
(Loss) profit before income taxes € (1,226,855) € (57,725) € 10,744
Adjustments for:      
Depreciation on plant and equipment 4,019 4,455 1,185
Depreciation on right-of-use assets 92,293 64,426 1,855
Gain on modification of lease, net (451)    
Change in provisions (11,000)    
Bad debt written off 5,261    
Interest expense 4,946 2,421 124
Operating (loss) profit before working capital changes (1,131,787) 13,577 13,908
Change in deferred offering costs (262,684)    
Change in trade and other receivables 82,505 (38,250) (22,166)
Change in deposits and prepayments (109,577) (69,194)  
Change in deferred revenue 194,877 29,371  
Change in trade and other payables 310,054 97,562 41,300
Cash (used in) generated from operations (916,612) 33,066 33,042
Tax paid (824) (6,217) (4,137)
Net cash (used in) generated from operating activities (917,436) 26,849 28,905
Investing activity      
Purchase of plant and equipment (1,209) (16,353)  
Acquisition of a subsidiary (25,000)
Cash used in an investing activity (26,209) (16,353)  
Financing activities      
Loan from a shareholder   20,000  
Repayment of loan from a shareholder (20,000)    
Proceeds from shares issuance for cash 1,346,607    
Repayment of lease liabilities (82,516) (54,762) (1,855)
Interest portion of lease liabilities (3,680) (2,234) (28)
Interest paid on long term borrowing (183) (187) (96)
Contributions   272 243
New long-term borrowing raised   25,000
Partial repayment of long-term borrowing (3,084)    
Net cash generated from (used in) financing activities 1,237,144 (36,911) 23,264
Net increase (decrease) in cash and cash equivalents 293,499 (26,415) 52,169
Cash and cash equivalents at beginning of the year 26,957 53,372 1,203
Effect of foreign exchange rate changes 26,773    
Cash and cash equivalents at end of the year 347,229 26,957 € 53,372
Non-cash financing activities      
Right-of-use assets obtained in exchange for lease liabilities 22,752 € 425,250  
Change in lease liabilities for modification of lease € 5,933