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Loans (Tables) | 12 Months Ended
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Dec. 31, 2024
Loans [Abstract] |
Schedule of Loans | Composed as follows:
|  | Linkage |  | Interest rate |  | December 31 |  |  | December 31 |
|  | terms |  | 2023 and 2024 |  | 2024 |  |  | 2023 |
Bank loans |  |  |  | % |  | € in thousands |
|  | EURIBOR |  | 2 – 6.3 |  |  | 28,105 |  |  |  | 21,132 |
|  | Fixed rate |  | 2.58 – 3.03 |  |  | 149,985 |  |  |  | 156,748 |
|  | Prime rate (USA) |  | 6.75-7.75 |  |  | 9,551 |  |  |  | - |
|  | Bank of Israel interest rate |  | 4.35 - 9.1 |  |  | 6,379 |  |  |  | 5,509 |
|  | Consumer price index in Israel |  | 2.75 - 4.78 |  |  | 73,162 |  |  |  | 64,176 |
|  |  |  |  |  |  | 267,182 |  |  |  | 247,565 |
Current maturities |  |  |  |  |  |  | 21,316 |  |  |  | 9,784 |
Long-term loans |  |  |  |  |  |  | 245,866 |  |  |  | 237,781 |
|  | Linkage |  | Interest rate |  | December 31 |  |  | December 31 |
|  | terms |  | 2023 and 2024 |  | 2024 |  |  | 2023 |
Other long-term loans |  |  |  | % |  | € in thousands |
|  | EURIBOR(1) |  | 5.27-9.2 |  |  | 25,239 |  |  |  | 25,055 |
|  | Consumer price index in Israel |  | 7 |  |  | 7,259 |  |  |  | 5,806 |
|  | Fixed rate |  | 5 - 5.5 |  |  | 3,816 |  |  |  | 3,512 |
|  |  |  |  |  |  | 36,314 |  |  |  | 34,373 |
Current maturities |  |  |  |  |  |  | 5,866 |  |  |  | 5,000 |
Other long-term loans |  |  |  |  |  |  | 30,448 |  |  |  | 29,373 |
(1) | Loans provided by the minority (49%) holders in Talasol.
Schedule of Aggregate Annual Maturities | The aggregate annual maturities are as follows:
|  | December 31 |  |  | December 31 |
|  | 2024 |  |  | 2023 |
|  | € in thousands |
Second year |  |  | 13,884 |  |  |  | 14,049 |
Third year |  |  | 16,673 |  |  |  | 13,668 |
Fourth year |  |  | 16,887 |  |  |  | 15,828 |
Fifth year |  |  | 16,575 |  |  |  | 24,462 |
Sixth year and thereafter |  |  | 212,295 |  |  |  | 199,147 |
Long-term loans |  |  | 276,314 |  |  |  | 267,154 |
Current maturities |  |  | 26,712 |  |  |  | 14,308 |
Short-term loans |  |  | 470 |  |  |  | 476 |
|  |  | 303,496 |  |  |  | 281,938 |
Schedule of Movement in Liabilities Deriving from Financing Activities | Movement in liabilities deriving from financing activities
|  |  |  |  | Liabilities |  |  |  |
|  |  |  |  | Loans and |  |  |  |  |  |  |
|  | Note |  |  | borrowings |  |  | Debentures |  |  | Total |
|  |  |  |  | € in thousands |
Balance as at January 1, 2024 |  |  |  |  |  | 281,938 |  |  |  | 140,087 |  |  |  | 422,025 |
Changes from financing activities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Proceeds from issue of debentures |  |  |  |  |  | - |  |  |  | 74,159 |  |  |  | 74,159 |
Repayment of debentures |  | 12 |  |  |  | - |  |  |  | (35,845 | ) |  |  | (35,845 | )
Receipt of loans |  |  |  |  |  | 19,482 |  |  |  | - |  |  |  | 19,482 |
Repayment of loans |  |  |  |  |  | (11,776 | ) |  |  | - |  |  |  | (11,776 | )
Accrued interest (see Note 7) |  |  |  |  |  | 5,899 |  |  |  | - |  |  |  | 5,899 |
Linkage |  |  |  |  |  | 2,474 |  |  |  | - |  |  |  | 2,474 |
Transaction costs related to borrowings |  |  |  |  |  | 88 |  |  |  | 1,369 |  |  |  | 1,457 |
Total net financing liabilities |  |  |  |  |  | 298,105 |  |  |  | 179,770 |  |  |  | 477,875 |
Effect of changes in foreign exchange rates |  |  |  |  |  | 5,391 |  |  |  | 11,759 |  |  |  | 17,150 |
Balance as at December 31, 2024 |  |  |  |  |  | 303,496 |  |  |  | 191,529 |  |  |  | 495,025 |
|  |  |  |  | Liabilities |  |  |  |
|  |  |  |  | Loans and |  |  |  |  |  |  |
|  | Note |  |  | borrowings |  |  | Debentures |  |  | Total |
|  |  |  |  | € in thousands |
Balance as at January 1, 2023 |  |  |  |  |  | 273,863 |  |  |  | 110,428 |  |  |  | 384,291 |
Changes from financing activities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Proceeds from issue of debentures |  |  |  |  |  | - |  |  |  | 55,808 |  |  |  | 55,808 |
Repayment of debentures |  | 12 |  |  |  | - |  |  |  | (17,763 | ) |  |  | (17,763 | )
Receipt of loans |  |  |  |  |  | 32,157 |  |  |  | - |  |  |  | 32,157 |
Repayment of loans |  |  |  |  |  | (12,736 | ) |  |  | - |  |  |  | (12,736 | )
Accrued interest (see Note 7) |  |  |  |  |  | 4,284 |  |  |  | - |  |  |  | 4,284 |
Linkage |  |  |  |  |  | 1,849 |  |  |  | - |  |  |  | 1,849 |
Transaction costs related to borrowings |  |  |  |  |  | (686 | ) |  |  | 446 |  |  |  | (240 | )
Transfer to disposal groups held for sale |  |  |  |  |  | (13,047 | ) |  |  | - |  |  |  | (13,047 | )
Total net financing liabilities |  |  |  |  |  | 285,684 |  |  |  | 148,919 |  |  |  | 434,603 |
Effect of changes in foreign exchange rates |  |  |  |  |  | (3,746 | ) |  |  | (8,832 | ) |  |  | (12,578 | )
Balance as at December 31, 2023 |  |  |  |  |  | 281,938 |  |  |  | 140,087 |  |  |  | 422,025 |

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