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Consolidated Statements of Cash Flows
 12 Months Ended
Dec. 31, 2024
EUR (€)
Dec. 31, 2023
EUR (€)
Dec. 31, 2022
EUR (€)
Operating Activities      
Net income (loss) before income tax € (4,481,601) € (3,130,635) € 1,395,092
Items not affecting cash:      
Bad debt expense 138,941 84,394 19,456
Depreciation of property and equipment 11,814 19,424 5,069
Amortization of intangible assets 49,684 49,984 858
Amortization of right-of-use assets 61,568 58,524 36,353
Accretion of lease liabilities 2,311 2,177 1,514
Provision for inventory reserves 312,563
Gain from insurance recoveries on inventory (1,937,819)
Impairment on inventory due to natural disaster 2,133,385
Stock based compensation 103,810
Gain on lease modification (891)
Changes in non-cash working capital items:      
Inventory 3,438,571 4,207,694 (6,784,372)
Accounts receivable (843,993) 832,135 (56,128)
Deferred tax assets 157,397 (518,080)
Due from related parties 1,359,809 (1,306,861) (61,043)
Due to related parties (117,414) (117,718) (239,557)
Prepaid expense 27,770 (312,548) 1,119,506
Accounts payable and accrued liabilities 867,259 (609,310) (718,804)
Accrued interest 14,901
Deferred tax liabilities 556 32,783
Income tax payable 578,319 (364,086)
Net cash provided by operating activities 986,949 182,845 (5,647,033)
Investing Activities      
Short-term investments 1,992,000 (2,044,050)
Purchase of equipment (126,592) (28,025) (133,140)
Purchase of intangible assets (926,953) (516,684) (261,916)
Net cash provided by (used in) investing activities 938,455 (2,588,759) (395,056)
Financing Activities      
Issuance of common stock to related party for cash 2,500,000
Net proceeds from Issuance of common stock through Initial public offering 3,354,781
Conversion from related party loan to capital contribution
Proceeds from debt bond, net of debt issuance cost 865,882
Repayment of bank loans (237,480) (228,150) (248,532)
Net proceeds (Repayment) of lines of credit 617,532 (4,116,483) 3,820,617
Repayment of lease liabilities (63,996) (60,523) (37,036)
Dividend paid to related party (72,003)
Payments to related parties (2,142,353) (640,332) (355,586)
Proceeds from related parties 799,105 4,214,567 320,769
Net cash provided by (used in) financing activities (161,310) 2,523,860 5,928,229
Net change in cash 1,764,094 117,946 (113,860)
Cash - beginning of year 620,531 502,585 616,445
Cash - end of year € 2,384,625 € 620,531 € 502,585