{"id":81,"date":"2023-01-30T12:57:48","date_gmt":"2023-01-30T10:57:48","guid":{"rendered":"https:\/\/annualreport.forcitgroup.com\/?page_id=81"},"modified":"2024-03-19T12:35:44","modified_gmt":"2024-03-19T12:35:44","slug":"notes-to-the-financial-statements","status":"publish","type":"page","link":"https:\/\/annualreport.forcitgroup.com\/2023\/en\/financial-statements\/notes-to-the-financial-statements\/","title":{"rendered":"Notes to the financial statements"},"content":{"rendered":"\n
<\/div>\n\n\n\n

1. ACCOUNTING PRINCIPLES<\/h2>\n\n\n\n

1.1. VALUATION PRINCIPLES<\/h3>\n\n\n\n

Fixed assets are stated at historical cost less accumulated straight-line depreciation. Current assets are stated at historical cost or at lower fair value. Foreign currency items are translated using the exchange rate at the balance sheet date. The consolidated financial statements are presented in equal euros (EUR).<\/p>\n\n\n\n

Forcit Defence International Ab’s operations include projects whose manufacturing time is long. The company applies the principles of partial revenue recognition in its project operations where the project’s manufacturing time spans several accounting periods and where the project’s amounts are significant with regards to turnover. The income is recognized in the profit and loss account according to the progress of the projects (percentage of completion). The long-term project’s recognition is determined on the basis of manufactured goods in relation to the total quantity of ordered goods for the project. The costs for the projects are based on the project accounting where each project has its own project cost calculation. The costs for the projects include variable expenses for procurement and manufacturing. The partial revenue recognition reflects the significant growth in the project business during the financial year and improves the comparability between financial years.<\/p>\n\n\n\n

1.2. DEPRECIATION AND AMORTISATION<\/h3>\n\n\n\n

Depreciation is calculated from the historical cost, and is calculated on a straight-line basis over the estimated economic life on the asset. The basis of calculation are:<\/p>\n\n\n\n\n\n\n\t\n\t\n\t\n\t\n\t\n\t
Buildings and constructions<\/td>20-50<\/td>\n<\/tr>\n
Machinery and equipment<\/td>5-10<\/td>\n<\/tr>\n
Other tangible assets<\/td>10-20<\/td>\n<\/tr>\n
Immaterial rights<\/td>5-10<\/td>\n<\/tr>\n
Other long-term expense items<\/td>10<\/td>\n<\/tr>\n
Consolidated goodwill<\/td>5-10<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n

1.3. CONSOLIDATED FINANCIAL STATEMENTS<\/h3>\n\n\n\n

The consolidated financial statements include the parent company Oy Forcit Ab and the subsidiary companies Forcit Sweden AB, Forcit Norway AS, Forcit International Oy Ab, Forcit Defence International Oy Ab, Forcit Consulting Oy, Forcit Consulting AB, Forcit Consulting AS, O-Piblast S.A. and Forcit Ireland Ltd. The consolidated financial statements also include the associated company Vipnordic AB. Vipnordic AB’s financial statements are prepared per 31.08.2022. The consolidated financial statement is prepared according to the acquisition method. All intercompany transactions, balances, gains and losses are eliminated as part of the consolidation process. Forcit Defence International Oy Ab is part of the group as of 11.5.2023. During the financial year, 45% of the subsidiary O-Pitblast S.A. was sold and the ownership share of Vipnordic AB rose to 50%.<\/p>\n\n\n\n\n\n\n\t\n\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t
2. PROFIT AND LOSS ACCOUNT<\/th>\n<\/tr>\n<\/thead>\n
<\/td>\n<\/tr>\n
2.1. NET SALES PER BUSINESS SECTOR<\/td>\n<\/tr>\n
Consolidated<\/td>2023<\/td>2022<\/td><\/td>\n<\/tr>\n
Explosives<\/td>194 037<\/td>211 010<\/td><\/td>\n<\/tr>\n
Consulting<\/td>15 148<\/td>17 332<\/td><\/td>\n<\/tr>\n
Revenue recognition<\/td>5 155<\/td>0<\/td><\/td>\n<\/tr>\n
Total<\/td>214 340<\/td>228 342<\/td><\/td>\n<\/tr>\n
<\/td>\n<\/tr>\n
Parent Company<\/td>2023<\/td>2022<\/td><\/td>\n<\/tr>\n
Explosives<\/td>107 395<\/td>112 676<\/td><\/td>\n<\/tr>\n
Revenue recognition<\/td>2 447<\/td>0<\/td><\/td>\n<\/tr>\n
Total<\/td>109 841<\/td>112 676<\/td><\/td>\n<\/tr>\n
<\/td>\n<\/tr>\n
2.2. SALARIES FOR THE REPORTING PERIOD AND THE AVERAGE NUMBER OF PERSONNEL<\/td>\n<\/tr>\n
Consolidated<\/td>2023<\/td>2022<\/td><\/td>\n<\/tr>\n
Boards of Directors and CEO\u00b4s<\/td>1 623<\/td>1 631<\/td><\/td>\n<\/tr>\n
Other personnel<\/td>32 596<\/td>30 841<\/td><\/td>\n<\/tr>\n
Total<\/td>34 219<\/td>32 472<\/td><\/td>\n<\/tr>\n
<\/td>\n<\/tr>\n
Parent Company<\/td>2023<\/td>2022<\/td><\/td>\n<\/tr>\n
Boards of Directors and CEO\u00b4s<\/td>817<\/td>644<\/td><\/td>\n<\/tr>\n
Other personnel<\/td>17 751<\/td>15 778<\/td><\/td>\n<\/tr>\n
Total<\/td>18 568<\/td>16 423<\/td><\/td>\n<\/tr>\n
<\/td>\n<\/tr>\n
During the financial period the average number of personnel<\/td>2023<\/td>2022<\/td><\/td>\n<\/tr>\n
Consolidated<\/td>553<\/td>533<\/td><\/td>\n<\/tr>\n
Parent Company<\/td>288<\/td>265<\/td><\/td>\n<\/tr>\n
<\/td>\n<\/tr>\n
2.3. OTHER OPERATING INCOME<\/td>\n<\/tr>\n
Consolidated<\/td>2023<\/td>2022<\/td><\/td>\n<\/tr>\n
Income from rents<\/td>160<\/td>166<\/td><\/td>\n<\/tr>\n
Return<\/td>0<\/td>8<\/td><\/td>\n<\/tr>\n
Other items<\/td>2 422<\/td>527<\/td><\/td>\n<\/tr>\n
Total<\/td>2 583<\/td>701<\/td><\/td>\n<\/tr>\n
<\/td>\n<\/tr>\n
Parent Company<\/td>2023<\/td>2022<\/td><\/td>\n<\/tr>\n
Intra-group transactions<\/td>2 905<\/td>2 886<\/td><\/td>\n<\/tr>\n
Income from rents<\/td>160<\/td>166<\/td><\/td>\n<\/tr>\n
Return<\/td>0<\/td>8<\/td><\/td>\n<\/tr>\n
Other items<\/td>1 029<\/td>164<\/td><\/td>\n<\/tr>\n
Total<\/td>4 095<\/td>3 223<\/td><\/td>\n<\/tr>\n
<\/td>\n<\/tr>\n
2.4. AUDIT FEES<\/td>\n<\/tr>\n
Consolidated<\/td>2023<\/td>2022<\/td><\/td>\n<\/tr>\n
Audit fees<\/td>174<\/td>154<\/td><\/td>\n<\/tr>\n
Total<\/td>174<\/td>154<\/td><\/td>\n<\/tr>\n
<\/td>\n<\/tr>\n
Parent Company<\/td>2023<\/td>2022<\/td><\/td>\n<\/tr>\n
Audit fees<\/td>77<\/td>42<\/td><\/td>\n<\/tr>\n
Total<\/td>77<\/td>42<\/td><\/td>\n<\/tr>\n
<\/td>\n<\/tr>\n
2.5. APPROPRIATIONS<\/td>\n<\/tr>\n
Parent Company<\/td>2023<\/td>2022<\/td><\/td>\n<\/tr>\n
Group contribution<\/td>7 110<\/td>1 394<\/td><\/td>\n<\/tr>\n
<\/td>\n<\/tr>\n
2.6. DIVIDEND INCOME FROM GROUP
\nUNDERTAKINGS<\/td>\n<\/tr>\n
Parent Company<\/td>2023<\/td>2022<\/td><\/td>\n<\/tr>\n
Dividend income from group undertakings<\/td>6 917<\/td>2 908<\/td><\/td>\n<\/tr>\n
<\/td>\n<\/tr>\n
2.7. INCOME TAX<\/td>\n<\/tr>\n
Consolidated<\/td>2023<\/td>2022<\/td><\/td>\n<\/tr>\n
Income tax on ordinary items<\/td>5667<\/td>4 707<\/td><\/td>\n<\/tr>\n
Change in deferred tax liability<\/td>48<\/td>-13<\/td><\/td>\n<\/tr>\n
Total<\/td>5715<\/td>4 694<\/td><\/td>\n<\/tr>\n
<\/td>\n<\/tr>\n
Parent Company<\/td>2023<\/td>2022<\/td><\/td>\n<\/tr>\n
Income tax on group contributions<\/td>1422<\/td>279<\/td><\/td>\n<\/tr>\n
Income tax on ordinary items<\/td>2632<\/td>2 555<\/td><\/td>\n<\/tr>\n
Total<\/td>4054<\/td>2 834<\/td><\/td>\n<\/tr>\n
<\/td>\n<\/tr>\n
3. BALANCE SHEET<\/td>\n<\/tr>\n
3.1. INTANGIBLE AND TANGIBLE ASSETS<\/td>\n<\/tr>\n
The notes include the purchase cost for the non-current assets that have not entirely been depreciated by plan. The goodwill in the consolidated Financial Statements is depreciated over a period of 5\u201310 years from acquisition.
\n
\n<\/td>\n<\/tr>\n
<\/td>\n<\/tr>\n
Consolidated<\/td>2023<\/td>2022<\/td><\/td>\n<\/tr>\n
Acquisition cost 1.1.<\/td>153 987<\/td>142 543<\/td><\/td>\n<\/tr>\n
Increases<\/td>28 095<\/td>11 606<\/td><\/td>\n<\/tr>\n
Decreases<\/td>-2 187<\/td>-162<\/td><\/td>\n<\/tr>\n
Acquisition cost 31.12.<\/td>179 894<\/td>153 987<\/td><\/td>\n<\/tr>\n
Accumulated depreciation 1.1.<\/td>-95 979<\/td>-87 230<\/td><\/td>\n<\/tr>\n
Depreciation for the reporting period<\/td>-8 863<\/td>-8 811<\/td><\/td>\n<\/tr>\n
Accumulated depreciation on reductions<\/td>439<\/td>61<\/td><\/td>\n<\/tr>\n
Accumulated depreciation 31.12.<\/td>-104 403<\/td>-95 979<\/td><\/td>\n<\/tr>\n
Increases<\/td>437<\/td>437<\/td><\/td>\n<\/tr>\n
Book value on 31.12.<\/td>75 929<\/td>58 445<\/td><\/td>\n<\/tr>\n
Balance value of intangible and tangible assets in production<\/td>18 240<\/td>13 586<\/td><\/td>\n<\/tr>\n
<\/td>\n<\/tr>\n
Parent Company<\/td>2023<\/td>2022<\/td><\/td>\n<\/tr>\n
Acquisition cost 1.1.<\/td>82 623<\/td>76 770<\/td><\/td>\n<\/tr>\n
Increases<\/td>19 347<\/td>5 877<\/td><\/td>\n<\/tr>\n
Decreases<\/td>-76<\/td>-25<\/td><\/td>\n<\/tr>\n
Acquisition cost 31.12.<\/td>101 894<\/td>82 623<\/td><\/td>\n<\/tr>\n
Accumulated depreciation 1.1.<\/td>-51 668<\/td>-48 324<\/td><\/td>\n<\/tr>\n
Depreciation for the reporting period<\/td>-3 400<\/td>-3 344<\/td><\/td>\n<\/tr>\n
Accumulated depreciation 31.12.<\/td>-55 068<\/td>-51 668<\/td><\/td>\n<\/tr>\n
Increases<\/td>437<\/td>437<\/td><\/td>\n<\/tr>\n
Book value on 31.12.<\/td>47 263<\/td>31 392<\/td><\/td>\n<\/tr>\n
Balance value of intangible and tangible assets in production<\/td>6 391<\/td>6 359<\/td><\/td>\n<\/tr>\n
<\/td>\n<\/tr>\n
3.2. INVESTMENTS, PARENT COMPANY<\/td>\n<\/tr>\n
Shares<\/td>Group companies<\/td>Others<\/td>Total<\/td>\n<\/tr>\n
Acquisition cost 1.1.<\/td>24 940<\/td>287<\/td>25 227<\/td>\n<\/tr>\n
Increases<\/td>2 236<\/td>0<\/td>2 236<\/td>\n<\/tr>\n
Decreases<\/td>-2 396<\/td>0<\/td>-2 396<\/td>\n<\/tr>\n
Acquisition cost 31.12.<\/td>24 780<\/td>287<\/td>25 067<\/td>\n<\/tr>\n
<\/td>\n<\/tr>\n
3.3. STOCKS<\/td>\n<\/tr>\n
Consolidated<\/td>2023<\/td>2022<\/td><\/td>\n<\/tr>\n
Raw materials and consumables<\/td>18 278<\/td>11 829<\/td><\/td>\n<\/tr>\n
Finished products<\/td>2 054<\/td>4 705<\/td><\/td>\n<\/tr>\n
Purchased products<\/td>9 957<\/td>9 701<\/td><\/td>\n<\/tr>\n
Advances paid<\/td>12 542<\/td>171<\/td><\/td>\n<\/tr>\n
Total<\/td>42 831<\/td>26 407<\/td><\/td>\n<\/tr>\n
<\/td><\/td>\n<\/tr>\n
Parent Company<\/td>2023<\/td>2022<\/td><\/td>\n<\/tr>\n
Raw materials and consumables<\/td>16 973<\/td>10 197<\/td><\/td>\n<\/tr>\n
Finished products<\/td>421<\/td>3 149<\/td><\/td>\n<\/tr>\n
Purchased products<\/td>3 795<\/td>4 005<\/td><\/td>\n<\/tr>\n
Advances paid<\/td>12 541<\/td>171<\/td><\/td>\n<\/tr>\n
Total<\/td>33 731<\/td>17 523<\/td><\/td>\n<\/tr>\n
<\/td>\n<\/tr>\n
3.4. CONSOLIDATED COMPANIES<\/td>\n<\/tr>\n
Participation-%<\/td>Consolidated<\/td>Parent Company<\/td><\/td>\n<\/tr>\n
Forcit International Oy Ab<\/td>100<\/td>100<\/td><\/td>\n<\/tr>\n
Forcit Defence International Oy Ab *)<\/td>100<\/td>100<\/td><\/td>\n<\/tr>\n
Forcit Sweden AB<\/td>100<\/td>100<\/td><\/td>\n<\/tr>\n
Forcit Norway AS<\/td>100<\/td>100<\/td><\/td>\n<\/tr>\n
Forcit Consulting Oy<\/td>100<\/td>100<\/td><\/td>\n<\/tr>\n
Forcit Consulting AB<\/td>100<\/td>100<\/td><\/td>\n<\/tr>\n
Forcit Consulting AS<\/td>100<\/td>100<\/td><\/td>\n<\/tr>\n
Forcit Ireland Ltd<\/td>100<\/td>100<\/td><\/td>\n<\/tr>\n
O-Pitblast S.A. **)<\/td>55<\/td>55<\/td><\/td>\n<\/tr>\n
Vipnordic AB ***)<\/td>50<\/td>50<\/td><\/td>\n<\/tr>\n
*) The company is part of the group as of 11.5.2023.
\n**) 45% of the company is sold in January 2023.
\n***) Ownership of the company rose to 50% from 33.33%.<\/td>		<\/td><\/td><\/td>\n<\/tr>\n
<\/td>\n<\/tr>\n
3.5. CONSOLIDATED RECEIVABLES AND PAYABLES<\/td><\/td><\/td><\/td>\n<\/tr>\n
Parent Company<\/td>2023<\/td>2022<\/td><\/td>\n<\/tr>\n
Long-term loan receivables<\/td>243<\/td>243<\/td><\/td>\n<\/tr>\n
Trade receivables<\/td>7 878<\/td>6 082<\/td><\/td>\n<\/tr>\n
Loan receivables<\/td>75<\/td>126<\/td><\/td>\n<\/tr>\n
Other receivables*<\/td>14 502<\/td>8 773<\/td><\/td>\n<\/tr>\n
Total receivables<\/td>22 698<\/td>15 223<\/td><\/td>\n<\/tr>\n
<\/td>\n<\/tr>\n
Trade payables<\/td>195<\/td>38<\/td><\/td>\n<\/tr>\n
Other debts*<\/td>31 752<\/td>12 325<\/td><\/td>\n<\/tr>\n
Total payables<\/td>31 947<\/td>12 363<\/td><\/td>\n<\/tr>\n
*Refers mainly to cash pool arrangements<\/td>\n<\/tr>\n
<\/td>\n<\/tr>\n
3.6. CHANGES IN EQUITY<\/td>\n<\/tr>\n
Consolidated<\/td>2023<\/td>2022<\/td><\/td>\n<\/tr>\n
Share Capital 1.1<\/td>3 149<\/td>3 149<\/td><\/td>\n<\/tr>\n
Share Capital 31.12.<\/td>3 149<\/td>3 149<\/td><\/td>\n<\/tr>\n
Reserve for invested unrestricted equity 1.1<\/td>1 501<\/td>1 501<\/td><\/td>\n<\/tr>\n
Reserve for invested unrestricted equity 31.12<\/td>1 501<\/td>1 501<\/td><\/td>\n<\/tr>\n
Disposition fund 1.1<\/td>34 060<\/td>33 183<\/td><\/td>\n<\/tr>\n
Profit last year<\/td>21 529<\/td>6 069<\/td><\/td>\n<\/tr>\n
Dividend for last year<\/td>-5 034<\/td>-3 423<\/td><\/td>\n<\/tr>\n
Change in disposition fund<\/td>-319<\/td>-1 768<\/td><\/td>\n<\/tr>\n
Disposition fund 31.12.<\/td>50 236<\/td>34 060<\/td><\/td>\n<\/tr>\n
Net profit for the period<\/td>20 534<\/td>21 529<\/td><\/td>\n<\/tr>\n
Total equity<\/td>75 419<\/td>60 238<\/td><\/td>\n<\/tr>\n
<\/td>\n<\/tr>\n
Parent Company<\/td>2023<\/td>2022<\/td><\/td>\n<\/tr>\n
Share Capital 1.1<\/td>3 149<\/td>3 149<\/td><\/td>\n<\/tr>\n
Share Capital 31.12.<\/td>3 149<\/td>3 149<\/td><\/td>\n<\/tr>\n
Reserve for invested unrestricted equity 1.1<\/td>1 501<\/td>1 501<\/td><\/td>\n<\/tr>\n
Reserve for invested unrestricted equity 31.12<\/td>1 501<\/td>1 501<\/td><\/td>\n<\/tr>\n
Disposition fund 1.1<\/td>28 576<\/td>24 510<\/td><\/td>\n<\/tr>\n
Profit last year<\/td>14 046<\/td>7 489<\/td><\/td>\n<\/tr>\n
Dividend for last year<\/td>-5 034<\/td>-3 423<\/td><\/td>\n<\/tr>\n
Disposition fund 31.12.<\/td>37 588<\/td>28 576<\/td><\/td>\n<\/tr>\n
Net profit for the period<\/td>23 069<\/td>14 046<\/td><\/td>\n<\/tr>\n
Total equity<\/td>65 307<\/td>47 271<\/td><\/td>\n<\/tr>\n
<\/td>\n<\/tr>\n
Distributable free funds in total 31.12.<\/td>62 158<\/td>44 123<\/td><\/td>\n<\/tr>\n
<\/td>\n<\/tr>\n
3.7. APPROPRIATIONS AND DEFERRED TAX LIABILITIES<\/td>\n<\/tr>\n
Accumulated depreciation in excess on plan<\/td>\n<\/tr>\n
Parent Company<\/td>2023<\/td>2022<\/td><\/td>\n<\/tr>\n
Intangible assets<\/td><\/td><\/td><\/td>\n<\/tr>\n
Intangible rights<\/td>751<\/td>751<\/td><\/td>\n<\/tr>\n
<\/td>\n<\/tr>\n
Tangible assets<\/td><\/td><\/td><\/td>\n<\/tr>\n
Buildings and constructions<\/td>4 363<\/td>4 284<\/td><\/td>\n<\/tr>\n
Machinery and equipment<\/td>3 316<\/td>3 313<\/td><\/td>\n<\/tr>\n
Other tangible assets<\/td>1<\/td>2<\/td><\/td>\n<\/tr>\n
Total<\/td>8 432<\/td>8 349<\/td><\/td>\n<\/tr>\n
<\/td>\n<\/tr>\n
Deferred tax liability<\/td>\n<\/tr>\n
<\/td>\n<\/tr>\n
The deferred tax liability from the depreciation in excess on plan and accrual reserve have been separated in the consolidated financial statements<\/td>\n<\/tr>\n
<\/td>2023<\/td>2022<\/td><\/td>\n<\/tr>\n
Consolidated<\/td>3 338<\/td>3 289<\/td><\/td>\n<\/tr>\n
The remaining depreciation difference and accrual reserve have been booked as unrestricted shareholders\u2019 equity.<\/td>\n<\/tr>\n
<\/td>2023<\/td>2022<\/td><\/td>\n<\/tr>\n
Consolidated<\/td>12 093<\/td>12 143<\/td><\/td>\n<\/tr>\n
<\/td>\n<\/tr>\n
3.8. CURRENT LIABILITIES<\/td><\/td><\/td><\/td>\n<\/tr>\n
The balance sheet item “Loans from financial institutions” also includes use of current account with overdraft facility.<\/td>\n<\/tr>\n
<\/td>2023<\/td>2022<\/td><\/td>\n<\/tr>\n
Consolidated<\/td>2 106<\/td>2 667<\/td><\/td>\n<\/tr>\n
Parent Company<\/td>2 106<\/td>2 667<\/td><\/td>\n<\/tr>\n
<\/td>\n<\/tr>\n
3.9. ACCRUED EXPENCES AND ADVANCES RECEIVED<\/td><\/td><\/td><\/td>\n<\/tr>\n
Assets<\/td><\/td><\/td><\/td>\n<\/tr>\n
Consolidated<\/td>2023<\/td>2022<\/td><\/td>\n<\/tr>\n
Periodic invoices<\/td>838<\/td>541<\/td><\/td>\n<\/tr>\n
Tax refund<\/td>16<\/td>0<\/td><\/td>\n<\/tr>\n
Accrued income according to revenue recognition principles<\/td>5 155<\/td>0<\/td><\/td>\n<\/tr>\n
Other<\/td>0<\/td>6<\/td><\/td>\n<\/tr>\n
Total<\/td>6 009<\/td>547<\/td><\/td>\n<\/tr>\n
<\/td><\/td><\/td><\/td>\n<\/tr>\n
Parent Company<\/td>2023<\/td>2022<\/td><\/td>\n<\/tr>\n
Periodic invoices<\/td>285<\/td>88<\/td><\/td>\n<\/tr>\n
Total<\/td>285<\/td>88<\/td><\/td>\n<\/tr>\n
<\/td><\/td><\/td><\/td>\n<\/tr>\n
Equity and liabilities<\/td><\/td><\/td><\/td>\n<\/tr>\n
Consolidated<\/td>2023<\/td>2022<\/td><\/td>\n<\/tr>\n
Accrued personnel costs<\/td>6 175<\/td>5 462<\/td><\/td>\n<\/tr>\n
Other accruals<\/td>3 293<\/td>3 289<\/td><\/td>\n<\/tr>\n
Reservation for long-term projects<\/td>143<\/td>0<\/td><\/td>\n<\/tr>\n
Interests<\/td>33<\/td>36<\/td><\/td>\n<\/tr>\n
Taxes<\/td>3 072<\/td>3 072<\/td><\/td>\n<\/tr>\n
Total<\/td>12 716<\/td>11 859<\/td><\/td>\n<\/tr>\n
<\/td><\/td><\/td><\/td>\n<\/tr>\n
Parent Company<\/td>2023<\/td>2022<\/td><\/td>\n<\/tr>\n
Accrued personnel costs<\/td>3 016<\/td>2 432<\/td><\/td>\n<\/tr>\n
Other accruals<\/td>2 048<\/td>1 793<\/td><\/td>\n<\/tr>\n
Interests<\/td>33<\/td>36<\/td><\/td>\n<\/tr>\n
Taxes<\/td>1 243<\/td>1 747<\/td><\/td>\n<\/tr>\n
Total<\/td>6 339<\/td>6 008<\/td><\/td>\n<\/tr>\n
<\/td>\n<\/tr>\n
3.10. CONTINGENCIES AND COMMITMENTS<\/td>\n<\/tr>\n
3.10.1. Leasing liabilities<\/td><\/td><\/td><\/td>\n<\/tr>\n
Consolidated<\/td>2023<\/td>2022<\/td><\/td>\n<\/tr>\n
Due during the next reporting period<\/td>3 605<\/td>3 781<\/td><\/td>\n<\/tr>\n
Due later<\/td>6 717<\/td>7 234<\/td><\/td>\n<\/tr>\n
<\/td>\n<\/tr>\n
Parent Company<\/td>2023<\/td>2022<\/td><\/td>\n<\/tr>\n
Due during the next reporting period<\/td>1 713<\/td>1 761<\/td><\/td>\n<\/tr>\n
Due later<\/td>2 691<\/td>3 281<\/td><\/td>\n<\/tr>\n
<\/td>\n<\/tr>\n
3.10.2. Rental responsibility (for business premises)<\/td><\/td><\/td><\/td>\n<\/tr>\n
<\/td>Consolidated
\n<\/td>		Parent Company<\/td><\/td>\n<\/tr>\n
Due for payment during the following accounting period<\/td>1 171<\/td>234<\/td><\/td>\n<\/tr>\n
Due for payment later<\/td>1 850<\/td>352<\/td><\/td>\n<\/tr>\n
Total<\/td>3 021<\/td>586<\/td><\/td>\n<\/tr>\n
<\/td>\n<\/tr>\n
3.10.3 Contingent liability on behalf of group companies<\/td>\n<\/tr>\n
<\/td>2023<\/td>2022<\/td><\/td>\n<\/tr>\n
Consolidated<\/td>267<\/td>298<\/td><\/td>\n<\/tr>\n
Parent Company<\/td>267<\/td>298<\/td><\/td>\n<\/tr>\n
<\/td>\n<\/tr>\n
3.10.4. Other contingent liabilities<\/td>\n<\/tr>\n
Consolidated<\/td>2023<\/td>2022<\/td><\/td>\n<\/tr>\n
Contingencies on own behalf<\/td>3 736<\/td>3 460<\/td><\/td>\n<\/tr>\n
<\/td>\n<\/tr>\n
Parent Company<\/td>2021<\/td>2022<\/td><\/td>\n<\/tr>\n
Contingencies on own behalf<\/td>3 584<\/td>3 327<\/td><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

1. ACCOUNTING PRINCIPLES 1.1. VALUATION PRINCIPLES Fixed assets are stated at historical cost less accumulated straight-line depreciation. Current assets are stated at historical cost or at lower fair value. Foreign currency items are translated using the exchange rate at the balance sheet date. The consolidated financial statements are presented in equal euros (EUR). Forcit Defence […]<\/p>\n

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