XML 97 R83.htm IDEA: XBRL DOCUMENT v3.25.1

Financial Instruments - Fair values and risk management (Tables)

12 Months Ended

Dec. 31, 2024

Disclosure of detailed information about financial instruments [abstract]

Schedule of Classification and Carrying Amounts of Group's Financial Assets and Financial Liabilities

The following tables show the classification and carrying amounts of Group’s financial assets and financial liabilities as at December 31, 2024 and 2023.

Financial assets		31/12/24				31/12/23
Financial assets measured at amortised cost
Other non-current receivables			6,124				6,396
Trade receivables			32,819				33,304
Other current receivables			10,617				12,218
Other current financial receivables			1,348				—
Cash and cash equivalents			20,322				33,610
Total (a)			71,230				85,528
Financial assets measured at fair value
Forward exchange contracts			24				147
Total (b)			24				147
Total financial assets (a+b)			71,254				85,675

Financial assets measured at amortised cost include trade receivables, other receivables (non-current and current) and cash and cash equivalents. Financial assets at fair value reflect the positive change in fair value of forward exchange contracts that are not designated as hedge relationships, but are, nevertheless, intended to reduce the level of foreign currency risk for future cash flows from accounts receivables and sale orders.

For further details on “Trade receivables”, “Other receivables”, “Cash and cash equivalents” and “Forward exchange contracts” reference should be made to notes 15, 12-16, 18 and 32, respectively.

Financial liabilities		31/12/24				31/12/23
Financial liabilities measured at amortised cost
Long-term borrowings			18,720				17,353
Lease liabilities			57,750				62,327
Other non-current debts			465				—
Bank overdrafts and short-term borrowings			23,327				22,834
Trade payables			66,477				60,888
Other payables			26,706				31,719
Other non-current liabilities			2,160				2,725
Total (a)			195,605				197,846
Financial liabilities measured at fair value
Forward exchange contracts			268				36
Total (b)			268				36
Total financial liabilities (a+b)			195,873				197,882

Summary of Carrying Amount and Fair Value of Financial Assets and Financial Liabilities

The following tables show the carrying amount and fair value of Group’s financial assets and financial liabilities as at December 31, 2024 and 2023, other than those with carrying amount that are reasonable approximation of fair value.

		31/12/24								31/12/23
		Carrying amount				Fair value				Carrying amount				Fair value
Financial assets
Forward exchange contracts			24				24				147				147
Financial liabilities
Floating-rate borrowings			7,274				7,552				7,898				8,200
Fixed rate borrowings			11,446				14,078				9,455				12,459
Total long-term borrowings			18,720				21,630				17,353				20,659
Forward exchange contracts			268				268				36				36

Impairment on Financial Assets Recognised in Profit or Loss

Impairment losses on financial assets recognised in profit or loss for the years ended December 31, 2024, 2023 and 2022 are related mainly to trade receivables and are as follows:

		2024				2023				2022
Impairment loss on trade receivables			289				33				331

Summary of Percentage of Revenue and Trade Receivables

		31/12/24				31/12/23				31/12/22
Revenue			25,192				26,523				59,838
Trade receivables			4,022				4,198				5,314

Summary of Insured and Non-insured Trade Receivables

As at December 31, 2024 and 2023, insured and non-insured trade receivables are as follows:

		31/12/24				31/12/23
Insured trade receivables			23,253				25,706
Non-insured trade receivables			13,227				11,861
Gross trade receivables			36,480				37,567
Provision for doubtful accounts			(3,661	)			(4,263	)
Net trade receivables			32,819				33,304

Summary of Trade Receivables Past Due

As at December 31, 2024 and 2023 the ageing of trade receivables is as follows:

		31/12/24				31/12/23
Current (not past due)			24,462				25,520
From 1 to 29 days past due			3,945				4,707
From 30 to 60 days past due			746				1,053
From 61 to 90 days past due			582				429
More than 90 days past due			6,745				5,858
Gross trade receivables			36,480				37,567
Provision for doubtful accounts			(3,661	)			(4,263	)
Net trade receivables			32,819				33,304

Summary of Information about Credit Risk Exposure on Trade Receivables Using a Provision Matrix

Set out below is the information about the credit risk exposure on the Group’s trade receivables using a provision matrix as at December 31, 2024 and 2023, further to the adoption of IFRS 9.

December 31, 2024

		Days past due
		<30 days				30-60 days				61-90 days				> 90 days				Total
Trade receivables subject to collective valuation			1,279				—				79				—				1,358
Trade receivables subject to specific valuation																			35,122
Total gross carrying amount																			36,480
Default rate			0.65	%			9.60	%			26.31	%			58.83	%
Expected credit loss			8				—				21				—				29

December 31, 2023

		Days past due
		<30 days				30-60 days				61-90 days				> 90 days				Total
Trade receivables subject to collective valuation			1,798				83				78				36				1,995
Trade receivables subject to specific valuation																			35,572
Total gross carrying amount																			37,567
Default rate			0.86	%			13.06	%			37.78	%			95.31	%
Expected credit loss			15				11				29				34				89

Summary of Maturity Profile of Financial Liabilities Based on Contractual Undiscounted Payments

The tables below summarize the remaining contractual maturities of financial liabilities as at December 31, 2024 and 2023. The amounts are gross and undiscounted, and include contractual interest payments and exclude the impact of netting agreements.

December 31, 2024

		Less than 2 months				2 to 12 months				1 to 2 years				2 to 5 years				More than 5 years				Total
Long-term borrowings			626				4,459				2,568				8,034				5,943				21,630
Lease liabilities			2,379				11,250				12,513				26,781				17,970				70,893
Bank overdrafts and short-term borrowings			23,327				—				—				—				—				23,327
Trade and other payables			26,706				66,942				—				—				—				93,648
Losses on derivative financial instruments			268				—				—				—				—				268
Total financial liabilities			53,306				82,651				15,081				34,815				23,913				209,766

December 31, 2023

		Less than 2 months				2 to 12 months				1 to 2 years				2 to 5 years				More than 5 years				Total
Long-term borrowings			674				3,986				4,567				5,341				6,855				21,423
Lease liabilities			2,198				10,856				12,277				30,032				22,706				78,069
Bank overdrafts and short-term borrowings			22,834				—				—				—				—				22,834
Trade and other payables			31,719				63,613				—				—				—				95,332
Losses on derivative financial instruments			36				—				—				—				—				36
Total financial liabilities			57,461				78,455				16,844				35,373				29,561				217,694

Summary of Sensitivity to Reasonably Possible Change in Interest Rates on that Portion of Loans and Borrowings Affected

The following tables demonstrate the sensitivity to a reasonably possible change in interest rates on that portion of loans and borrowings affected. With all other variables held constant, the Group’s profit before tax is affected through the impact on floating rate borrowings as follows:

		Increase/decrease in basis points		Effect on profit before tax
December 31, 2024		+45			(40	)
December 31, 2024		-45			40
December 31, 2023		+45			(40	)
December 31, 2023		-45			40
December 31, 2022		+45			(52	)
December 31, 2022		-45			52

Summary of Sensitivity to Reasonably Possible Change in Foreign Exchange Rates and Impact on Profit Before Tax

The following tables demonstrate the sensitivity to a reasonably possible change in foreign exchange rates, with all other variables held constant.

The Group’s profit before tax is affected through the change in foreign in exchange rates as follows:

		Change in foreign exchange rates		Effect on profit before tax
December 31, 2024		+5%			2,150
December 31, 2024		-5%			(2,403	)
December 31, 2023		+5%			1,707
December 31, 2023		-5%			(1,848	)
December 31, 2022		+5%			4,287
December 31, 2022		-5%			(4,798	)

Summary of Financial Assets and Financial Liabilities Denominated in Foreign Currency

As at December 31, 2024 and 2023 the Group’s financial assets and financial liabilities denominated in foreign currency are as follows:

Financial assets		31/12/24				31/12/23
Trade receivables			23,384				23,353
Cash and cash equivalents			16,224				29,471
Total financial assets			39,608				52,824

Financial liabilities		31/12/24				31/12/23
Long-term borrowings			216				293
Lease liabilities			41,604				43,152
Bank overdraft and short-term borrowings			10,336				8,826
Trade payables			21,355				23,278
Total financial liabilities			73,511				75,549

Summary of Quantitative Information about Exposure to Currency Risk

As at December 31, 2024 and 2023, the summary quantitative data about Group’s exposure to currency risk as reported to the management of the Group is as follows:

December 31, 2024

		Financial Assets (a)				Financial liabilities (b)				Net Exposure (c) = (a)-(b)
U.S. dollars			21,705				42,212				(20,507	)
Chinese Yuan			5,173				10,005				(4,832	)
British pounds			4,453				7,722				(3,269	)
Brazilian Reais			4,089				2,497				1,592
Canadian dollars			62				4				58
Romanian Leu			810				6,772				(5,962	)
Mexican pesos			1,229				1,415				(186	)
Other			2,087				2,884				(797	)
Total			39,608				73,511				(33,903	)

December 31, 2023

		Financial Assets (a)				Financial liabilities (b)				Net Exposure (c) = (a)-(b)
U.S. dollars			29,865				47,648				(17,783	)
Chinese Yuan			10,280				5,820				4,460
British pounds			3,873				8,126				(4,253	)
Brazilian Reais			4,288				1,596				2,692
Romanian Leu			482				6,583				(6,101	)
Mexican pesos			1,906				1,674				232
Canadian dollars			198				99				99
Other			1,932				4,003				(2,071	)
Total			52,824				75,549				(22,725	)

Reconciliation of Movements of Liabilities to Cash Flows Arising from Financing Activities

The following tables show the reconciliation of movements of financial liabilities to cash flows arising from financing activities for the three years ended December 31, 2024, 2023 and 2022.

December 31, 2024

		Jan. 1, 2024				Cash outflows				Cash inflows				Changes in fair value				Other changes				Dec. 31, 2024
Long-term borrowings			17,353				(4,839	)			3,314				—				2,892				18,720
Lease liabilities			62,327				(10,288	)			—				—				5,711				57,750
Short-term borrowings			20,797				(798	)			—				—				—				19,999
Bank overdrafts			2,037				—				1,291				—				—				3,328
Non-controlling interests			4,343				(149	)			—				—				8				4,202
Total liabilities from financing activities			106,857				(16,074	)			4,605				—				8,611				103,999

Bank overdrafts are used only for cash management purposes.

December 31, 2023

		Jan. 1, 2023				Cash outflows				Cash inflows				Changes in fair value				Other changes				Dec. 31, 2023
Long-term borrowings			17,290				(8,715	)			10,912				—				(2,134	)			17,353
Lease liabilities			51,849				(11,057	)			—				—				21,535				62,327
Short-term borrowings			27,500				(6,703	)			—				—				—				20,797
Bank overdrafts			1,754				—				283				—				—				2,037
Non-controlling interests			4,698				(135	)			—				—				(220	)			4,343
Total liabilities from financing activities			103,091				(26,610	)			11,195				—				19,181				106,857

Bank overdrafts are used only for cash management purposes.

December 31, 2022

		Jan. 1, 2022				Cash outflows				Cash inflows				Changes in fair value				Other changes				Dec. 31, 2022
Long-term borrowings			17,439				(4,473	)			4,038				—				286				17,290
Lease liabilities			57,138				(10,049	)			—				—				4,760				51,849
Short-term borrowings			34,924				(7,424	)			—				—				—				27,500
Bank overdrafts			1,223				—				531				—				—				1,754
Non-controlling interests			1,511				(551	)			1,739				—				1,999				4,698
Total liabilities from financing activities			112,235				(22,497	)			6,308				—				7,045				103,091

Bank overdrafts are used only for cash management purposes.

X

- Definition

The disclosure of the credit risk exposure. Credit risk exposure is the credit risk inherent in an entity’s financial assets and commitments to extend credit.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 7
-IssueDate 2024-01-01
-Paragraph 35M
-URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=7&code=ifrs-tx-2024-en-r&anchor=para_35M&doctype=Standard
-URIDate 2024-03-27

+ Details

Name:	ifrs-full_DisclosureOfCreditRiskExposureExplanatory
Namespace Prefix:	ifrs-full_
Data Type:	dtr-2022:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	ifrs-full_DisclosureOfFinancialInstrumentsAbstract
Namespace Prefix:	ifrs-full_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

The disclosure of the reconciliation of liabilities arising from financing activities. [Refer: Liabilities arising from financing activities]

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Name IAS
-Number 7
-IssueDate 2024-01-01
-Paragraph 44D
-URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=7&code=ifrs-tx-2024-en-r&anchor=para_44D&doctype=Standard
-URIDate 2024-03-27

+ Details

Name:	ifrs-full_DisclosureOfReconciliationOfLiabilitiesArisingFromFinancingActivitiesExplanatory
Namespace Prefix:	ifrs-full_
Data Type:	dtr-2022:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

The disclosure of classification of financial assets and liabilities.

+ References

No definition available.

+ Details

Name:	ntz_DisclosureOfClassificationOfFinancialAssetsAndLiabilitiesExplanatory
Namespace Prefix:	ntz_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Disclosure of Detailed Information about Carrying Amounts and Fair Values of Financial Assets and Financial Liabilities [text block]

+ References

No definition available.

+ Details

Name:	ntz_DisclosureOfDetailedInformationAboutCarryingAmountsAndFairValuesOfFinancialAssetsAndFinancialLiabilitiesExplanatory
Namespace Prefix:	ntz_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Disclosure of detailed information about impairment on financial assets explanatory.

+ References

No definition available.

+ Details

Name:	ntz_DisclosureOfDetailedInformationAboutImpairmentOnFinancialAssetsExplanatory
Namespace Prefix:	ntz_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Disclosure of detailed information about insured and non-insured trade receivables.

+ References

No definition available.

+ Details

Name:	ntz_DisclosureOfDetailedInformationAboutInsuredAndNonInsuredTradeReceivablesExplanatory
Namespace Prefix:	ntz_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Disclosure of detailed information about percentage of revenue and trade receivables explanatory.

+ References

No definition available.

+ Details

Name:	ntz_DisclosureOfDetailedInformationAboutPercentageOfRevenueAndTradeReceivablesExplanatory
Namespace Prefix:	ntz_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Disclosure of financial assets and financial liabilities denominated in foreign currency.

+ References

No definition available.

+ Details

Name:	ntz_DisclosureOfFinancialAssetsAndFinancialLiabilitiesDenominatedInForeignCurrencyTextBlock
Namespace Prefix:	ntz_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Disclosure of interest rate sensitivity analysis.

+ References

No definition available.

+ Details

Name:	ntz_DisclosureOfInterestRateSensitivityAnalysisExplanatory
Namespace Prefix:	ntz_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Disclosure Of Maturity Analysis Of Contractual Undiscounted Cash Flows Of Financial Liabilities [text block]

+ References

No definition available.

+ Details

Name:	ntz_DisclosureOfMaturityAnalysisOfContractualUndiscountedCashFlowsOfFinancialLiabilitiesExplanatory
Namespace Prefix:	ntz_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Disclosure Of Quantitative Information About Exposure To Currency Risk [Text Block].

+ References

No definition available.

+ Details

Name:	ntz_DisclosureOfQuantitativeInformationAboutExposureToCurrencyRiskTextBlock
Namespace Prefix:	ntz_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Disclosure of sensitivity analysis based on foreign exchange rate and profit before tax [text block]

+ References

No definition available.

+ Details

Name:	ntz_DisclosureOfSensitivityAnalysisBasedOnForeignExchangeRateAndProfitBeforeTaxExplanatory
Namespace Prefix:	ntz_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Disclosure of trade receivables past due.

+ References

No definition available.

+ Details

Name:	ntz_DisclosureOfTradeReceivablesPastDueTextBlock
Namespace Prefix:	ntz_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration