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Leases | 6 Months Ended
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Jun. 30, 2023
Leases [Abstract] |
LEASES | NOTE 14 – LEASES As of June 30, 2023 and December 31, 2022, the Company had the following lease obligations:
|  | Discount |  |  |  | June 30, |  |  | December 31, |
|  | Rate |  | Maturity |  | 2023 |  |  | 2022 |
Current |  | 1.5% - 3.0% |  | 2024-2025 |  | € | 53,382 |  |  | € | 55,961 |
Non-current |  | 1.5% - 3.0% |  | 2024-2025 |  |  | 13,998 |  |  |  | 39,098 |
|  |  |  |  |  | € | 67,380 |  |  | € | 95,059 |
Balance - December 31, 2021 |  | € | 56,743 |
Lease liability additions |  |  | 109,506 |
Lease liability termination |  |  | (35,668 | )
Repayment of Lease liability |  |  | (37,036 | )
Interest expense on lease liabilities |  |  | 1,514 |
Balance - December 31, 2022 |  | € | 95,059 |
Repayment of Lease liability |  |  | (28,553 | )
Interest expense on lease liabilities |  |  | 874 |
Balance - June 30, 2023 |  | € | 67,380 |
On September 8, 2020, the Company entered into a vehicle lease agreement under a four-year term and monthly lease payment of €527. On January 1, 2021, the Company entered into an office lease agreement under a five-year term and monthly lease payment of €827 for the first year with an escalation rate of Consumer Price Index (CPI) plus 2% per annum. On June 30, 2022, the Company terminated the office lease contract. On June 1, 2022, the Company entered into an office lease agreement under a two-year term extensible for three years upon expiry and monthly lease payment of €3,384 with an escalation rate of Consumer Price Index (CPI) plus 2% per annum. On September 26, 2022, the Company entered into a vehicle lease agreement under a three-year term and monthly lease payment of €420. On November 15, 2022, the Company entered into a vehicle lease agreement under a three-year term and monthly lease payment of €417. The following table summarizes the maturity of our lease liabilities as of June 30, 2023:
2023 (excluding the six months ended June 30, 2023) |  | € | 28,891 |
2024 |  |  | 31,636 |
2025 |  |  | 8,072 |
Total lease payments |  |  | 68,599 |
Less: financing cost |  |  | (1,219 | )
Lease liabilities |  | € | 67,380 |
As of June 30, 2023 and December 31, 2022, the Company has right-of-use assets as follows:
Balance - December 31, 2021 |  | € | 55,730 |
Additions |  |  | 109,506 |
Termination |  |  | (34,777 | )
Depreciation |  |  | (36,353 | )
Balance - December 31, 2022 |  | € | 94,106 |
Depreciation |  |  | (27,957 | )
Balance - June 30, 2023 |  | € | 66,149 |

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- Definition The entire disclosure for leases. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 16 -IssueDate 2023-01-01 -Section Presentation -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=16&code=ifrs-tx-2023-en-r&doctype=Standard&dita_xref=IFRS16_g47-50_TI -URIDate 2023-03-23 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 16 -IssueDate 2023-01-01 -Section Disclosure -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=16&code=ifrs-tx-2023-en-r&doctype=Standard&dita_xref=IFRS16_g51-60_TI -URIDate 2023-03-23 + Details
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- References No definition available. + Details
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