Financial Results
The revenue for H2 (second half of the year) 2024 was €4,502, consisting of rental income. (H1, first half of the year, 2023 revenue was €278.) In addition to sales revenue, the company received a €500 grant in H2 2024 from Campus Founders GmbH. The total revenue for the 2024 fiscal year was €5,664 (compared to €21,264 in 2023).
The net loss for H2 2024 was €89,000 (compared to a €215,000 loss in H1 2023). Operating expenses in H2 2024 were reduced. Lower costs were partly due to the absence of 2023 expenses related to preparing for First North listing (including advisor fees, exchange fees, and transaction costs). The full-year net loss for 2024 was €188,162 (compared to €416,723 in 2023).
As of 31.12.2024, the company's total assets amounted to €723,345 (compared to €855,933 on 31.12.2023). Current assets totaled €178,432 (31.12.2023: €236,662). Fixed assets were €544,912 (31.12.2023: €619,270). The company's equity was €650,646, constituting 90.0% of the balance sheet total (31.12.2023: €1,040,981, 95.3%).
Cash flow for H2 2024 was -€12,000 (compared to €191,000 in the same period in 2023), including -€1,000 from operations and -€145,000 from investing activities. For the full year 2024, cash flow was -€88,000 (compared to -€84,000 in 2023), including -€60,000 from operations, -€57,000 from investing, and €30,000 from financing activities.
The financial reports of reporting period can be found below:
Interim Financial Statement
Balance Sheet
(in euros)
| 31.12.2024 | 30.06.2024 | 31.12.2023 | 30.06.2023 | ||
| Assets | |||||
| Current Assets | |||||
| Cash | 873 | 12 888 | 89 219 | 280 294 | |
| Receivables and Prepayments | 4 331 | 1 708 | 6 407 | 16 727 | |
| Inventories | 173 228 | 166 072 | 141 037 | 67 000 | |
| Total Current Assets | 178 433 | 180 668 | 236 663 | 364 021 | |
| Assets | |||||
| Tangible Fixed Assets | 17 320 | 9 664 | 15 011 | 127 238 | |
| Intangible Fixed Assets | 527 592 | 561 979 | 604 259 | 601 408 | |
| Total Current Assets | 544 912 | 571 643 | 619 270 | 728 646 | |
| Total Assets | 723 345 | 752 311 | 855 933 | 1 092 667 | |
| Liabilities and Equity | |||||
| Liabilities | |||||
| Current Liabilities | |||||
| Loan Liabilities | 30 000 | 0 | 0 | 0 | |
| Payables and Prepayments | 42 698 | 11 063 | 17 124 | 51 686 | |
| Total Current Liabilities | 72 698 | 11 063 | 17 124 | 51 686 | |
| Total Liabilities | 72 698 | 11 063 | 17 124 | 51 686 | |
| Equity | |||||
| Share Capital at Nominal Value | 812 527 | 812 527 | 812 527 | 812 527 | |
| Share Premium | 878 394 | 878 394 | 878 394 | 878 394 | |
| Retained Earnings (Loss) from Previous Periods | -852 112 | -852 112 | -435 389 | -435 389 | |
| Profit (Loss) for the Reporting Period | -188 162 | -97 561 | -416 723 | -214 551 | |
| Total Equity | 650 647 | 741 248 | 838 809 | 1 040 981 | |
| Total Liabilities and Equity | 723 345 | 752 311 | 855 933 | 1 092 667 |
Income Statement
(in euros)
| 01.01.2024- 31.12.2024 | 01.07.2024- 31.12.2024 | 01.01.2023- 31.12.2023 | 01.07.2023 - 30.12.2023 | ||
| Revenue | 5 664 | 4 502 | 21 264 | 20 986 | |
| Other Operating Income | 10 500 | 500 | 0 | 0 | |
| Goods, Raw Materials, and Services | -9 781 | -1 296 | -3 156 | -1 922 | |
| Miscellaneous Operating Expenses | -59 900 | -22 109 | -111 830 | -17 110 | |
| Personnel Expenses | -10 806 | -10 806 | -145 422 | -46 479 | |
| Depreciation and Impairment of Fixed Assets | -120 592 | -60 296 | -173 174 | -157 478 | |
| Significant Write-downs of Current Assets | 0 | 0 | 0 | 0 | |
| Other Operating Expenses | - 2 622 | 0 | -1 395 | -173 | |
| Operating Profit (Loss) | -187 537 | -89 505 | -413 713 | -202 176 | |
| Interest Income | 7 | 7 | 31 | 4 | |
| Interest Expenses | -632 | 0 | -3 041 | 0 | |
| Profit (Loss) Before Income Tax | -188 162 | -89 505 | -416 723 | -202 172 | |
| Profit (Loss) for the Reporting Period | -188 162 | -89 505 | -416 723 | -202 172 |
Cash Flow Statement
(in euros)
| 01.01.2024- 31.12.2024 | 01.07.2024- 31.12.2024 | 01.01.2023- 31.12.2023 | 01.07.2023- 31.12.2023 | ||
| Cash Flows from Operating Activities | |||||
| Operating Profit (Loss) | -187 537 | -89 505 | -413 713 | -202 176 | |
| Adjustments | |||||
| Depreciation and Impairment of Fixed Assets | 120 592 | -60 296 | 173 174 | 157 478 | |
| Total Adjustments | 120 592 | 36 966 | 173 174 | 157 478 | |
| Change in Receivables and Prepayments Related to Operating Activities | 2 076 | -2 298 | 257 | -10 320 | |
| Change in Inventories | -32 191 | -25 035 | -60 019 | -74 037 | |
| Change in Liabilities and Prepayments Related to Operating Activities | 25 574 | -7 167 | -37 455 | -36 609 | |
| Interest Received | 7 | 0 | 31 | 4 | |
| Receipts from Targeted Financing | 10 500 | 500 | 0 | 0 | |
| Total Cash Flows from Operating Activities | - 60 979 | -919 | -337 725 | -145 020 | |
| Cash Flows from Investing Activities | |||||
| Payments for Acquisition of Tangible and Intangible Fixed Assets | -57 366 | -40 735 | -117 399 | -46 055 | |
| Total Cash Flows from Investing Activities | -57 366 | -40 735 | -117 399 | -46 055 | |
| Cash Flows from Financing Activities | |||||
| Loans Received | 30 000 | 30 000 | 0 | 0 | |
| Proceeds from Issue of Shares or Units | 0 | 0 | 347 419 | 0 | |
| Proceeds from Sale of Treasury Shares or Units | 0 | 0 | 24 000 | 0 | |
| Total Cash Flows from Financing Activities | 30 000 | 30000 | 371 419 | 0 | |
| Total Cash Flows | - 88 345 | -11 654 | -83 705 | -191 075 | |
| Cash and cash equivalents at beginning of period | 89 219 | 12 528 | 172 924 | 280 294 | |
| Change in cash and cash equivalents | -88 345 | -11 654 | -83 705 | -191 075 | |
| Cash and cash equivalents at end of period | 874 | 874 | 89 219 | 89 219 |
Statement of Changes In Equity
(in euros)
| Total | ||||
| Share Capital at Nominal Value | Share Premium | Retained Earnings (Loss) | ||
| 31.12.2022 | 752 270 | 262 872 | -435 389 | 579 753 |
| Profit (Loss) for the Reporting Period | 0 | 0 | -214 551 | -214 551 |
| Issued Share Capital | 60 257 | 615 522 | 675 779 | |
| 30.06.2023 | 812 527 | 878 394 | -649 940 | 1 040 981 |
| Total | ||||
| Share Capital at Nominal Value | Share Premium | Retained Earnings (Loss) | ||
| 30.06.2023 | 812 527 | 878 394 | -649 940 | 1 040 981 |
| Profit (Loss) for the Reporting Period | 0 | 0 | -202 172 | -202 172 |
| 31.12.2023 | 812 527 | 878 394 | -852 112 | 838 809 |
| Total | ||||
| Share Capital at Nominal Value | Share Premium | Retained Earnings (Loss) | ||
| 31.12.2023 | 812 527 | 878 394 | -852 112 | 838 809 |
| Profit (Loss) for the Reporting Period | 0 | 0 | -98 025 | -98 025 |
| 30.06.2024 | 812 527 | 878 394 | -950 137 | 740 784 |
| Share Capital at Nominal Value | Share Premium | Retained Earnings (Loss) | Total | |
| 30.06.2024 | 812 527 | 878 394 | -950 137 | 740 784 |
| Profit (Loss) for the Reporting Period | 0 | 0 | -90 137 | -90 137 |
| 31.12.2024 | 812 527 | 878 394 | -1 039 642 | 650 647 |
Additional information can be found in attached document.