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NET FINANCIAL EXPENSES (Details) - EUR (€) € in Thousands | 12 Months Ended
--- | ---
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020
Disclosure of detailed information about financial instruments [line items] |  |  |
Interest income from bank deposits | € 2,414 | € 399 | € 610
Other interest income and financial income | 2,166 | 4,741 | 517
Interest income and other financial income | 4,580 | 5,140 | 1,127
Total financial income | 73,969 | 60,183 | 67,005
Capitalized borrowing costs | 1,914 | 1,874 | 2,591
Other interest and financial expenses | (2,778) | (3,315) | (3,258)
Interest expenses and other financial expenses | (864) | (1,441) | (667)
Interest expenses from banks and other financial institutions | (25,503) | (11,310) | (14,330)
Interest and other finance costs on bonds and notes | (23,679) | (22,947) | (20,116)
Write-downs of financial receivables | (594) | (1,467) | (9,502)
Other financial expenses | (2,008) | (5,991) | (14,580)
Total financial expenses | (52,648) | (43,156) | (59,195)
Net expenses from derivative financial instruments and foreign currency exchange rate differences | (28,693) | (11,880) | (27,652)
Total financial expenses and net expenses from derivative financial instruments and foreign currency exchange rate differences | (81,341) | (55,036) | (86,847)
Net financial expenses | (49,616) | (33,257) | (49,092)
Financial services companies |  |  |
Disclosure of detailed information about financial instruments [line items] |  |  |
Total financial income | 69,389 | 55,043 | 65,878
Total financial expenses and net expenses from derivative financial instruments and foreign currency exchange rate differences | (27,145) | (16,639) | (36,628)
Industrial companies |  |  |
Disclosure of detailed information about financial instruments [line items] |  |  |
Total financial income | 4,580 | 5,140 | 1,127
Total financial expenses and net expenses from derivative financial instruments and foreign currency exchange rate differences | (54,196) | (38,397) | (50,219)
Net financial expenses | € (49,616) | € (33,257) | € (49,092)

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- Definition The amount of interest and other costs that an entity incurs in connection with the borrowing of funds that are directly attributable to the acquisition, construction or production of a qualifying asset and which form part of the cost of that asset. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 23 -IssueDate 2022-03-24 -Paragraph 26 -Subparagraph a -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=23&code=ifrs-tx-2022-en-r&anchor=para_26_a&doctype=Standard -URIDate 2022-03-24 + Details
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- Definition The amount of interest expense on deposits from banks. [Refer: Interest expense; Deposits from banks] + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name IAS -Number 1 -IssueDate 2022-03-24 -Paragraph 112 -Subparagraph c -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2022-en-r&anchor=para_112_c&doctype=Standard -URIDate 2022-03-24 + Details
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