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Loan Payable and Related Party Loan
 6 Months Ended
Jun. 30, 2023
Loan payable [Abstract]  
Loan Payable and Related Party Loan

Note 13 — Loan payable and related party loan

 

  

June 30,

2023

  

December 31,

2022

 
   EUR   EUR 
Unsecured – at amortized cost:        
Small and medium enterprises guarantee fund interest rate: 0.75% per annum (as at December 31, 2021: interest rate: 0.75% per annum)   21,916    21,916 
Related party loan   128,910    - 
           
Analyzed between:          
Current portion          
Within 1 year   6,203    6,203 
Related party loan within 1 year   128,910    - 
           
Non-current portion          
Within 2 to 5 years   15,713    15,713 
    150,826    21,916 

 

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.

 

The related party loan is non-interest bearing and due on demand.