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Bank Loans (Tables)
12 Months Ended
Dec. 31, 2024
Bank Loans [Abstract]  
Schedule of Bank Loans

Bank loans as of December 31, 2024 and 2023 are summarized as follows:

 

   December 31,   December 31, 
   2024   2023 
Bank loans  90,756   328,236 
Lines of credit   4,279,193    3,661,662 
    4,369,949    3,989,898 
less: current portion   (4,369,949)   (3,895,585)
  
-
   94,313 
Schedule of Terms and Conditions of Outstanding Bank Loans

The terms and conditions of outstanding bank loans are as follows:

 

      Nominal      December 31, 2024   December 31, 2023 
      interest   Year of   Face   Carrying   Face   Carrying 
Bank Loans  Currency  rate   maturity   Value   Amount   Value   Amount 
Bankia SA  EUR   1.50%   2025    400,000    34,638    400,000    136,378 
Targobank SA  EUR   1.87%   2025    100,000    12,886    100,000    38,322 
Banco de Sabadell SA  EUR   1.50%   2025    250,000    21,411    250,000    85,004 
Liberbank  EUR   1.55%   2025    170,000    21,821    170,000    68,532 
                920,000   90,756   920,000   328,236 
Schedule of Principal Repayments to Maturity by Fiscal Year

Principal repayments to maturity by fiscal year are as follows:

 

Year ended December 31,    
2025  90,756 
Total  90,756 
Schedule of Company Maintains the Following Lines of Credit

In addition, the Company maintains the following lines of credit:

            December 31, 
      Nominal     2024 
   Credit   interest     Carrying 
Line of credit  Limit   rate  Maturity  Value 
Caixabank  2,500,000   0.60% + Euribor  3/25/2025  2,455,013 
Sabadell   2,400,000   1.20% + Euribor  2/8/2025   196,576 
BBVA   1,570,000   1.90% + Euribor  12/22/2025   992,712 
Santander   4,000,000   0.45% + Euribor  2/28/2025   30,720 
Bankinter   2,690,000   0.90% + Euribor  3/20/2025   494,172 
Bankinter   110,000   0.75% + Euribor  3/20/2025   110,000 
   13,270,000         4,279,193 

 

As of December 31, 2023 

 

                  ‘December 31,  
          Nominal       2023  
    Credit     interest       Carrying  
Line of credit   Limit     rate   Maturity   Value  
Caixabank   2,500,000     2.00% + Euribor   4/25/2024   2,308,058  
Sabadell     2,700,000     2.75% + Euribor   5/28/2024     -  
BBVA     1,500,000     1.65% + Euribor   12/22/2024     270,866  
Santander     4,000,000     1.65% + Euribor   6/28/2024     1,012,738  
Abanca     700,000     2.00% + Euribor   11/30/2024     -  
Bankinter ICO     700,000     1.40% + Euribor   6/21/2024     70,000  
    12,100,000             3,661,662