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Leases

6 Months Ended

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

X

- 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

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X

- References

No definition available.

+ Details

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Namespace Prefix:	ifrs-full_
Data Type:	xbrli:stringItemType
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Period Type:	duration