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Trade and Other Payables

6 Months Ended

Jun. 30, 2023

Trade and Other Payables [Abstract]

Trade and other payables

Note 14 — Trade and other payables

		June 30, 2023				December 31, 2022
		EUR				EUR
Trade payables – outside parties			319,279				100,791
Trade payables – related parties			25,695				29,533
Other payables – outside parties			77,792				512,698
Other payables – related parties			-				7,235
			422,766				650,258

Trade payables are unsecured and are usually paid within 30 days of recognition. The carrying amounts of trade and other payables are considered to be the same as their fair values, due to their short-term nature.

Trade payables mainly represents trade payables due to vendors, including independent third party and related parties, who delivered the consultancy services. Other payable mainly represents deferred revenue, VAT and other tax payables.

The largest related party trade payable represents 40% of the total trade payable – related parties as at June 30, 2023 and relates to rent for the facilities at Sportski Centar Pandev. This related party agreement is at market value and is recorded accordingly.