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Bank Loans | 12 Months Ended
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Dec. 31, 2025
Bank Loans [Abstract] |
BANK LOANS | NOTE 13 – BANK LOANS Bank loans as of December 31, 2025 and 2024 are summarized as follows:
Bank loans |  | December 31, |  |  | December 31, |
|  | 2025 |  |  | 2024 |
Bank loans |  | € | 382 |  |  | € | 90,756 |
Lines of credit |  |  | 4,510,449 |  |  |  | 4,279,193 |
|  |  | 4,510,831 |  |  |  | 4,369,949 |
less: current portion |  |  | (4,510,831 | ) |  |  | (4,369,949 | )
|  | € | - |  |  | € | - |
The terms and conditions of outstanding bank loans are as follows:
|  |  |  | Nominal |  |  |  |  |  | December 31, 2025 |  |  | December 31, 2024 |
|  |  |  | interest |  |  | Year of |  |  | Face |  |  | Carrying |  |  | Face |  |  | Carrying |
Bank Loans |  | Currency |  | rate |  |  | maturity |  |  | Value |  |  | Amount |  |  | Value |  |  | Amount |
CaixaBank |  | EUR |  |  | 1.50 | % |  | 2025 |  |  |  | 400,000 |  |  |  | 382 |  |  |  | 400,000 |  |  |  | 34,638 |
Abanca |  | EUR |  |  | 1.87 | % |  | 2025 |  |  |  | 100,000 |  |  |  | - |  |  |  | 100,000 |  |  |  | 12,886 |
Banco de Sabadell SA |  | EUR |  |  | 1.50 | % |  | 2025 |  |  |  | 250,000 |  |  |  | - |  |  |  | 250,000 |  |  |  | 21,411 |
Unicaja |  | EUR |  |  | 1.55 | % |  | 2025 |  |  |  | 170,000 |  |  |  | - |  |  |  | 170,000 |  |  |  | 21,821 |
|  |  |  |  |  |  |  |  |  |  | € | 920,000 |  |  | € | 382 |  |  | € | 920,000 |  |  | € | 90,756 |
During the years ended December 31, 2025, 2024 and 2023, the Company incurred bank loan interest expense of €336, €5,367 and €12,618, respectively. The Company’s obligations are secured by substantially all of the assets of the Company. Principal repayments to maturity by fiscal year are as follows:
Year ended December 31, |  |  |
2025 |  | € | 382 |
Total |  | € | 382 |
In addition, the Company maintains the following lines of credit: As of December 31, 2025
|  |  |  |  |  |  |  |  | December 31, |
|  |  |  |  | Nominal |  |  |  | 2025 |
|  | Credit |  |  | interest |  |  |  | Carrying |
Line of credit |  | Limit |  |  | rate |  | Maturity |  | Value |
Caixabank |  | € | 2,500,000 |  |  | 0.60% + Euribor |  | 3/25/2025 |  | € | 2,314,026 |
Sabadell |  |  | 2,400,000 |  |  | 1.20% + Euribor |  | 2/28/2025 |  |  | - |
BBVA |  |  | 1,570,000 |  |  | 1.90% + Euribor |  | 12/22/2025 |  |  | 1,292,690 |
Santander |  |  | 4,000,000 |  |  | 0.45% + Euribor |  | 2/28/2025 |  |  | - |
Bankinter |  |  | 2,690,000 |  |  | 0.90% + Euribor |  | 3/20/2025 |  |  | 903,733 |
Bankinter |  |  | 110,000 |  |  | 0.75% + Euribor |  | 3/20/2025 |  |  | - |
|  | € | 13,270,000 |  |  |  |  |  |  | € | 4,510,449 |
In February 2026, all these line of credit were refinanced on a long-term basis with the aforementioned financial institutions. As of December 31, 2024
|  |  |  |  |  |  |  |  | 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 |  | 2/28/2025 |  |  | 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 |
The Company has €3.6 million facility that is unsecured and can be drawn down to meet short-term financing needs. The facility has a maturity of one to three years for the ICO credit lines that renews automatically at the option of the Company. Interest is payable at an average rate of Euribor plus 2.11 basis points. During the years ended December 31, 2025, 2024 and 2023, the Company incurred interest expense from line of credit of €37,606, €147,761 and €133,977, respectively.

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