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Consolidated Statement of Cash Flows - EUR (€)
€ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Cash Flows from Operating Activities    
Net income (loss) € 65,026 € (45,707)
Adjustments to reconcile net income to net cash used in operating activities    
Depreciation of property, plant and equipment 18 29
Impairment of property, plant and equipment 0 3,842
Stock based compensation (19) (572)
Gain on deconsolidation / reconsolidation (62,554) (40,122)
Income / (loss) from changes in fair value of convertible note payable carried at fair value (8,923) (5,404)
Other non-cash (income) / expense 0 6,280
Movements in provisions 0 51,347
Interest paid 0 (49)
Changes in operating assets and liabilities:    
Inventory (304) 0
Prepaid taxes 150 0
Prepaid expenses and other 675 4,805
Right of use lease assets 49 78
Accounts payable and accrued expenses 5,106 16,656
Advance payments received from customers 0 (2,605)
Lease Liability (49) 0
VAT payable (13,862) 0
Net cash used in operating activities (14,687) (11,422)
Cash Flows from Investing Activities    
Acquisition of property and equipment (80) (3,842)
Reconsolidation (deconsolidation) of the Subsidiary cash balance 1,305 (7,481)
Net cash provided by (used in) investing activities 1,225 (11,323)
Cash Flows from Financing Activities    
Proceeds from the issuance of convertible notes 7,000 0
Proceeds from issue of shares on stock option scheme 0 6
Net cash provided by financing activities 7,000 6
Net increase / (decrease) in cash (6,462) (22,739)
Effect of currency translation on cash and cash equivalents 404 (206)
Cash at December 31, 2023 7,412 30,357
Cash at December 31, 2024 1,354 7,412
Supplemental disclosure of cash flow information:    
Cash paid during the period for interest (0) 49
Cash paid during the period for income tax € 0 € 0