{"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":"2026-03-26T06:43:20","modified_gmt":"2026-03-26T06:43:20","slug":"notes-to-the-financial-statements","status":"publish","type":"page","link":"https:\/\/annualreport.forcitgroup.com\/2025\/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 thousand euros (EUR).<\/p>\n\n\n\n

Forcit Defence International Ab’s and parent company’s operations include projects whose manufacturing time is long. Forcit Defence International Oy Ab 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 recognised 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 in years. 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 Pori Oy, 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 31.08.2025. Forcit Consulting Oy acquired Bergwerk Oy in January 2024. Bergwerk Oy was merged with Forcit Consulting Oy on 31 August 2024. Bergwerk Oy’s results for the period 1.1. -31.8.2024 are included in consolidated result for the 2024 accounting period. 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.<\/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\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>2025<\/td>2024<\/td>\n<\/tr>\n
Explosives<\/td>205 677<\/td>234 934<\/td>\n<\/tr>\n
Consulting<\/td>15 189<\/td>16 228<\/td>\n<\/tr>\n
Revenue recognition<\/td>276 711<\/td>24 485<\/td>\n<\/tr>\n
Total<\/td>497 576<\/td>275 647<\/td>\n<\/tr>\n
<\/td>\n<\/tr>\n
Parent Company<\/td>2025<\/td>2024<\/td>\n<\/tr>\n
Explosives<\/td>112 079<\/td>142 301<\/td>\n<\/tr>\n
Revenue recognition<\/td>192 238<\/td>8 649<\/td>\n<\/tr>\n
Total<\/td>304 317<\/td>150 950<\/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>2025<\/td>2024<\/td>\n<\/tr>\n
Boards of Directors and CEO\u00b4s<\/td>1 688<\/td>1 657<\/td>\n<\/tr>\n
Other personnel<\/td>46 860<\/td>38 187<\/td>\n<\/tr>\n
Total<\/td>48 548<\/td>39 843<\/td>\n<\/tr>\n
<\/td>\n<\/tr>\n
Parent Company<\/td>2025<\/td>2024<\/td>\n<\/tr>\n
Board of Directors and CEO<\/td>854<\/td>803<\/td>\n<\/tr>\n
Other personnel<\/td>28 799<\/td>21 803<\/td>\n<\/tr>\n
Total<\/td>29 653<\/td>22 606<\/td>\n<\/tr>\n
<\/td>\n<\/tr>\n
During the financial period the average number of personnel<\/td>2025<\/td>2024<\/td>\n<\/tr>\n
Consolidated<\/td>718<\/td>620<\/td>\n<\/tr>\n
Parent Company<\/td>429<\/td>338<\/td>\n<\/tr>\n
<\/td>\n<\/tr>\n
2.3. OTHER OPERATING INCOME<\/td>\n<\/tr>\n
Consolidated<\/td>2025<\/td>2024<\/td>\n<\/tr>\n
Income from rents<\/td>171<\/td>181<\/td>\n<\/tr>\n
Other items<\/td>1 670<\/td>1 477<\/td>\n<\/tr>\n
Total<\/td>1 841<\/td>1 658<\/td>\n<\/tr>\n
<\/td>\n<\/tr>\n
Parent Company<\/td>2025<\/td>2024<\/td>\n<\/tr>\n
Intercompany transactions<\/td>6 014<\/td>4 535<\/td>\n<\/tr>\n
Income from rents<\/td>171<\/td>181<\/td>\n<\/tr>\n
Other items<\/td>1 165<\/td>357<\/td>\n<\/tr>\n
Total<\/td>7 351<\/td>5 073<\/td>\n<\/tr>\n
<\/td>\n<\/tr>\n
2.4. AUDIT FEES<\/td>\n<\/tr>\n
Consolidated<\/td>2025<\/td>2024<\/td>\n<\/tr>\n
Audit fees<\/td>202<\/td>174<\/td>\n<\/tr>\n
Total<\/td>202<\/td>174<\/td>\n<\/tr>\n
<\/td>\n<\/tr>\n
Parent Company<\/td>2025<\/td>2024<\/td>\n<\/tr>\n
Audit fees<\/td>66<\/td>67<\/td>\n<\/tr>\n
Total<\/td>66<\/td>67<\/td>\n<\/tr>\n
<\/td>\n<\/tr>\n
2.5. APPROPRIATIONS<\/td>\n<\/tr>\n
Parent Company<\/td>2025<\/td>2024<\/td>\n<\/tr>\n
Group contribution<\/td>80 947<\/td>25 940<\/td>\n<\/tr>\n
<\/td>\n<\/tr>\n
2.6. DIVIDEND INCOME FROM GROUP UNDERTAKINGS<\/td>\n<\/tr>\n
Parent Company<\/td>2025<\/td>2024<\/td>\n<\/tr>\n
Dividend income from group undertakings<\/td>2 640<\/td>6 016<\/td>\n<\/tr>\n
<\/td>\n<\/tr>\n
2.7. INCOME TAX<\/td>\n<\/tr>\n
Consolidated<\/td>2025<\/td>2024<\/td>\n<\/tr>\n
Income tax on ordinary items<\/td>31 512<\/td>7 762<\/td>\n<\/tr>\n
Change in deferred tax liability<\/td>1 441<\/td>1 883<\/td>\n<\/tr>\n
Total<\/td>32 953<\/td>9 645<\/td>\n<\/tr>\n
<\/td>\n<\/tr>\n
Parent Company<\/td>2025<\/td>2024<\/td>\n<\/tr>\n
Income tax on group contributions<\/td>16 189<\/td>5 188<\/td>\n<\/tr>\n
Income tax on ordinary items<\/td>13 485<\/td>1 308<\/td>\n<\/tr>\n
Total<\/td>29 674<\/td>6 496<\/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 group goodwill in the consolidated Financial Statements is depreciated over a period of 5\u201310 years from acquisition.<\/td>\n<\/tr>\n
<\/td>\n<\/tr>\n
Consolidated<\/td>2025<\/td>2024<\/td>\n<\/tr>\n
Acquisition cost 1.1<\/td>327 980<\/td>179 894<\/td>\n<\/tr>\n
Increases<\/td>66 451<\/td>148 346<\/td>\n<\/tr>\n
Decreases<\/td>-1 350<\/td>-260<\/td>\n<\/tr>\n
Acquisition cost 31.12<\/td>393 081<\/td>327 980<\/td>\n<\/tr>\n
Accumulated depreciation 1.1<\/td>-135 628<\/td>-104 403<\/td>\n<\/tr>\n
Depreciation for the reporting period<\/td>-40 711<\/td>-31 400<\/td>\n<\/tr>\n
Accumulated depreciation on reductions<\/td>187<\/td>175<\/td>\n<\/tr>\n
Accumulated depreciation 31.12<\/td>-176 152<\/td>-135 628<\/td>\n<\/tr>\n
Increases<\/td>437<\/td>437<\/td>\n<\/tr>\n
Book value on 31.12<\/td>217 367<\/td>192 789<\/td>\n<\/tr>\n
Balance value of intangible and tangible assets<\/td>44 089<\/td>37 440<\/td>\n<\/tr>\n
<\/td>\n<\/tr>\n
Parent Company<\/td>2025<\/td>2024<\/td>\n<\/tr>\n
Acquisition cost 1.1.<\/td>241 839<\/td>101 894<\/td>\n<\/tr>\n
Increases<\/td>53 243<\/td>140 031<\/td>\n<\/tr>\n
Decreases<\/td>-148<\/td>-85<\/td>\n<\/tr>\n
Acquisition cost 31.12.<\/td>294 934<\/td>241 839<\/td>\n<\/tr>\n
Accumulated depreciation 1.1.<\/td>-80 788<\/td>-55 068<\/td>\n<\/tr>\n
Depreciation for the reporting period<\/td>-34 803<\/td>-25 720<\/td>\n<\/tr>\n
Accumulated depreciation 31.12.<\/td>-115 592<\/td>-80 788<\/td>\n<\/tr>\n
Increases<\/td>437<\/td>437<\/td>\n<\/tr>\n
Book value on 31.12.<\/td>179 780<\/td>161 488<\/td>\n<\/tr>\n
Balance value of intangible and tangible assets<\/td>27 567<\/td>21 070<\/td>\n<\/tr>\n
<\/td>\n<\/tr>\n
3.2. INVESTMENTS, PARENT COMPANY<\/td>\n<\/tr>\n
Shares<\/td>Group companies<\/td>Others<\/td>\n<\/tr>\n
Acquisition cost 1.1.<\/td>28 993<\/td>287<\/td>\n<\/tr>\n
Increases<\/td>2 287<\/td>0<\/td>\n<\/tr>\n
Decreases<\/td>0<\/td>0<\/td>\n<\/tr>\n
Acquisition cost 31.12.<\/td>31 280<\/td>287<\/td>\n<\/tr>\n
<\/td>\n<\/tr>\n
3.3. STOCKS<\/td>\n<\/tr>\n
Consolidated<\/td>2025<\/td>2024<\/td>\n<\/tr>\n
Raw materials and consumables<\/td>27 501<\/td>23 738<\/td>\n<\/tr>\n
Finished products<\/td>8 008<\/td>4 481<\/td>\n<\/tr>\n
Purchased products<\/td>18 506<\/td>13 435<\/td>\n<\/tr>\n
Advances paid<\/td>10 429<\/td>12 559<\/td>\n<\/tr>\n
Total<\/td>64 445<\/td>54 213<\/td>\n<\/tr>\n
<\/td>\n<\/tr>\n
Parent Company<\/td>2025<\/td>2024<\/td>\n<\/tr>\n
Raw materials and consumables<\/td>26 268<\/td>22 433<\/td>\n<\/tr>\n
Finished products<\/td>6 544<\/td>2 860<\/td>\n<\/tr>\n
Purchased products<\/td>10 770<\/td>6 596<\/td>\n<\/tr>\n
Advances paid<\/td>10 429<\/td>12 558<\/td>\n<\/tr>\n
Total<\/td>54 011<\/td>44 446<\/td>\n<\/tr>\n
<\/td>\n<\/tr>\n
3.4. CONSOLIDATED COMPANIES<\/td>\n<\/tr>\n
Participation-%<\/td>Consolidated<\/td>Parent Company<\/td>\n<\/tr>\n
Forcit International Oy Ab<\/td>100<\/td>100<\/td>\n<\/tr>\n
Forcit Defence International Oy Ab<\/td>100<\/td>100<\/td>\n<\/tr>\n
Forcit Pori Oy *)<\/td>100<\/td>100<\/td>\n<\/tr>\n
Forcit Sweden AB<\/td>100<\/td>100<\/td>\n<\/tr>\n
Forcit Norway AS<\/td>100<\/td>100<\/td>\n<\/tr>\n
Forcit Consulting Oy<\/td>100<\/td>100<\/td>\n<\/tr>\n
Forcit Consulting AB<\/td>100<\/td>100<\/td>\n<\/tr>\n
Forcit Consulting AS<\/td>100<\/td>100<\/td>\n<\/tr>\n
Forcit Ireland Ltd<\/td>100<\/td>100<\/td>\n<\/tr>\n
O-Pitblast S.A.<\/td>55<\/td>55<\/td>\n<\/tr>\n
Vipnordic AB<\/td>50<\/td>50<\/td>\n<\/tr>\n
*) The company is part of the group as of 30.4.2025<\/td><\/td><\/td>\n<\/tr>\n
Forcit Consulting Oy bought the company Bergwerk Oy in January 2024. Bergwerk Oy was merged with Forcit Consulting Oy on 31.8.2024<\/td><\/td><\/td>\n<\/tr>\n
<\/td>\n<\/tr>\n
3.5. CONSOLIDATED RECEIVABLES AND PAYABLES<\/td><\/td><\/td>\n<\/tr>\n
Parent Company<\/td>2025<\/td>2024<\/td>\n<\/tr>\n
Long-term loan receivables<\/td>117<\/td>243<\/td>\n<\/tr>\n
Trade receivables<\/td>20 420<\/td>12 705<\/td>\n<\/tr>\n
Loan receivables<\/td>75<\/td>75<\/td>\n<\/tr>\n
Other receivables*<\/td>83 044<\/td>32 776<\/td>\n<\/tr>\n
Total receivables<\/td>103 656<\/td>45 798<\/td>\n<\/tr>\n
<\/td>\n<\/tr>\n
Trade payables<\/td>266<\/td>52<\/td>\n<\/tr>\n
Other debts*<\/td>113 342<\/td>49 432<\/td>\n<\/tr>\n
Total payables<\/td>113 608<\/td>49 484<\/td>\n<\/tr>\n
*Refers mainly to group cash pool arrangements<\/td>\n<\/tr>\n
<\/td>\n<\/tr>\n
3.6. CHANGES IN EQUITY<\/td>\n<\/tr>\n
Consolidated<\/td>2025<\/td>2024<\/td>\n<\/tr>\n
Share Capital 1.1.<\/td>3 149<\/td>3 149<\/td>\n<\/tr>\n
Share Capital 31.12.<\/td>3 149<\/td>3 149<\/td>\n<\/tr>\n
Reserve for invested unrestricted equity 1.1.<\/td>1 050<\/td>1 501<\/td>\n<\/tr>\n
Increase of the reserve for invested unrestricted equity<\/td>425<\/td>91<\/td>\n<\/tr>\n
Decrease of the reserve for invested unrestricted equity<\/td>-502<\/td>-541<\/td>\n<\/tr>\n
Reserve for invested unrestricted equity 31.12<\/td>973<\/td>1 050<\/td>\n<\/tr>\n
Disposition fund 1.1.<\/td>61 923<\/td>50 236<\/td>\n<\/tr>\n
Profit last year<\/td>35 619<\/td>20 534<\/td>\n<\/tr>\n
Dividend for last year<\/td>-35 945<\/td>-7 041<\/td>\n<\/tr>\n
Redemption of own shares<\/td>0<\/td>-1 433<\/td>\n<\/tr>\n
Change in disposition fund<\/td>1 402<\/td>-372<\/td>\n<\/tr>\n
Disposition fund 31.12.<\/td>63 000<\/td>61 923<\/td>\n<\/tr>\n
Net profit for the period<\/td>124 982<\/td>35 619<\/td>\n<\/tr>\n
Total equity<\/td>192 104<\/td>101 742<\/td>\n<\/tr>\n
<\/td>\n<\/tr>\n
Parent Company<\/td>2025<\/td>2024<\/td>\n<\/tr>\n
Share Capital 1.1.<\/td>3 149<\/td>3 149<\/td>\n<\/tr>\n
Share Capital 31.12.<\/td>3 149<\/td>3 149<\/td>\n<\/tr>\n
Reserve for invested unrestricted equity 1.1.<\/td>1 050<\/td>1 501<\/td>\n<\/tr>\n
Increase of the reserve for invested unrestricted equity<\/td>425<\/td>91<\/td>\n<\/tr>\n
Decrease of the reserve for invested unrestricted equity<\/td>-502<\/td>-541<\/td>\n<\/tr>\n
Reserve for invested unrestricted equity 31.12.<\/td>973<\/td>1 050<\/td>\n<\/tr>\n
Disposition fund 1.1.<\/td>52 184<\/td>37 588<\/td>\n<\/tr>\n
Profit last year<\/td>32 207<\/td>23 069<\/td>\n<\/tr>\n
Dividend for last year<\/td>-35 945<\/td>-7 041<\/td>\n<\/tr>\n
Redemption of own shares<\/td>0<\/td>-1 433<\/td>\n<\/tr>\n
Disposition fund 31.12.<\/td>48 446<\/td>52 184<\/td>\n<\/tr>\n
Net profit for the period<\/td>120 464<\/td>32 207<\/td>\n<\/tr>\n
Total equity<\/td>173 032<\/td>88 590<\/td>\n<\/tr>\n
<\/td>\n<\/tr>\n
Distributable free funds in total 31.12.<\/td>169 883<\/td>85 441<\/td>\n<\/tr>\n
*) During the financial year 2024, the company issued 100 shares and redeemed 1,955 own shares.<\/td><\/td><\/td>\n<\/tr>\n
During the financial year 2025, the company issued 306 shares and redeemed 1,655 own shares.<\/td><\/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>2025<\/td>2024<\/td>\n<\/tr>\n
Intangible assets<\/td><\/td><\/td>\n<\/tr>\n
Intangible rights<\/td>1 184<\/td>1 046<\/td>\n<\/tr>\n
<\/td>\n<\/tr>\n
Tangible assets<\/td><\/td><\/td>\n<\/tr>\n
Buildings and constructions<\/td>5 884<\/td>5 275<\/td>\n<\/tr>\n
Machinery and equipment<\/td>16 673<\/td>10 630<\/td>\n<\/tr>\n
Other tangible assets<\/td>-47<\/td>-29<\/td>\n<\/tr>\n
Total<\/td>23 694<\/td>16 922<\/td>\n<\/tr>\n
<\/td>\n<\/tr>\n
<\/td>\n<\/tr>\n
<\/td>\n<\/tr>\n
<\/td><\/td><\/td>\n<\/tr>\n
Deferred tax liability<\/td>Consolidated
\n2025<\/td>		Consolidated
\n2024<\/td>\n<\/tr>\n
The depreciation difference and the untaxed reserves are reclassified as deferred tax liability in the consolidated financial statements<\/td>6 662<\/td>5 221<\/td>\n<\/tr>\n
<\/td>\n<\/tr>\n
<\/td>2025<\/td>2024<\/td>\n<\/tr>\n
The remaining of the depreciation difference and the untaxed reserves constitutes unrestricted equity<\/td>8 769<\/td>10 210<\/td>\n<\/tr>\n
<\/td>\n<\/tr>\n
3.8. PROVISION FOR LONG-TERM PROJECTS<\/td><\/td><\/td>\n<\/tr>\n
Consolidated<\/td>2025<\/td>2024<\/td>\n<\/tr>\n
Warranty provision 1.1.<\/td>808<\/td>143<\/td>\n<\/tr>\n
Change<\/td>3 207<\/td>664<\/td>\n<\/tr>\n
Warranty provision 31.12.<\/td>4 015<\/td>808<\/td>\n<\/tr>\n
Parent Company<\/td>2025<\/td>2024<\/td>\n<\/tr>\n
Warranty provision 1.1.<\/td>0<\/td>0<\/td>\n<\/tr>\n
Change<\/td>592<\/td>0<\/td>\n<\/tr>\n
Warranty provision 31.12.<\/td>592<\/td>0<\/td>\n<\/tr>\n
<\/td>\n<\/tr>\n
3.9. CURRENT LIABILITIES<\/td><\/td><\/td>\n<\/tr>\n
<\/td>\n<\/tr>\n
The balance sheet item “Loans from financial institutions” also includes use of current account with overdraft facility.<\/td>2025<\/td>2024<\/td>\n<\/tr>\n
Consolidated<\/td>1 163<\/td>1 885<\/td>\n<\/tr>\n
Parent Company<\/td>1 163<\/td>1 885<\/td>\n<\/tr>\n
<\/td>\n<\/tr>\n
3.10. ACCRUED EXPENCES AND ADVANCES RECEIVED<\/td><\/td><\/td>\n<\/tr>\n
Assets \u2013 Consolidated<\/td>2025<\/td>2024<\/td>\n<\/tr>\n
Accrued invoices<\/td>1 966<\/td>1 185<\/td>\n<\/tr>\n
Tax refund<\/td>342<\/td>46<\/td>\n<\/tr>\n
Accrued income according to revenue recognition principles<\/td>10 928<\/td>18 042<\/td>\n<\/tr>\n
Others<\/td>42<\/td>0<\/td>\n<\/tr>\n
Total<\/td>13 278<\/td>19 273<\/td>\n<\/tr>\n
<\/td><\/td><\/td>\n<\/tr>\n
Assets \u2013 Parent Company<\/td>2025<\/td>2024<\/td>\n<\/tr>\n
Accrued invoices<\/td>1 272<\/td>586<\/td>\n<\/tr>\n
Tax refund<\/td>0<\/td>0<\/td>\n<\/tr>\n
Accrued income according to revenue recognition principles<\/td>0<\/td>0<\/td>\n<\/tr>\n
Others<\/td>42<\/td>0<\/td>\n<\/tr>\n
Total<\/td>1 313<\/td>586<\/td>\n<\/tr>\n
<\/td><\/td><\/td>\n<\/tr>\n
Liabilities \u2013 Consolidated<\/td>2025<\/td>2025<\/td>\n<\/tr>\n
Accrued personnel costs<\/td>7 976<\/td>8 012<\/td>\n<\/tr>\n
Other accruals<\/td>6 487<\/td>7 606<\/td>\n<\/tr>\n
Interests<\/td>21<\/td>23<\/td>\n<\/tr>\n
Taxes<\/td>23 610<\/td>4 447<\/td>\n<\/tr>\n
Total<\/td>38 094<\/td>20 088<\/td>\n<\/tr>\n
<\/td><\/td><\/td>\n<\/tr>\n
Liabilities \u2013 Parent Company<\/td>2025<\/td>2024<\/td>\n<\/tr>\n
Accrued personnel costs<\/td>4 364<\/td>3 618<\/td>\n<\/tr>\n
Other accruals<\/td>4 065<\/td>6 568<\/td>\n<\/tr>\n
Interests<\/td>21<\/td>23<\/td>\n<\/tr>\n
Taxes<\/td>23 123<\/td>4 254<\/td>\n<\/tr>\n
Total<\/td>31 572<\/td>14 463<\/td>\n<\/tr>\n
<\/td>\n<\/tr>\n
3.11. CONTIGENCIES AND COMMITMENTS<\/td>\n<\/tr>\n
3.11.1. Leasing liabilities<\/td><\/td><\/td>\n<\/tr>\n
Consolidated<\/td>2025<\/td>2024<\/td>\n<\/tr>\n
Due during the next reporting period<\/td>3 294<\/td>3 220<\/td>\n<\/tr>\n
Due later<\/td>5 429<\/td>6 394<\/td>\n<\/tr>\n
Total<\/td>8 724<\/td>9 614<\/td>\n<\/tr>\n
<\/td>\n<\/tr>\n
Parent Company<\/td>2025<\/td>2024<\/td>\n<\/tr>\n
Due during the next reporting period<\/td>1 785<\/td>1 576<\/td>\n<\/tr>\n
Due later<\/td>2 777<\/td>2 978<\/td>\n<\/tr>\n
Total<\/td>4 562<\/td>4 554<\/td>\n<\/tr>\n
<\/td>\n<\/tr>\n
<\/td><\/td><\/td>\n<\/tr>\n
3.11.2. Rental responsibility (for business premises)<\/td><\/td><\/td>\n<\/tr>\n
Consolidated<\/td>2025<\/td>2024<\/td>\n<\/tr>\n
Due for payment during the following accounting period<\/td>2 235<\/td>1 131<\/td>\n<\/tr>\n
Due for payment later<\/td>6 638<\/td>2 115<\/td>\n<\/tr>\n
Total<\/td>8 873<\/td>3 246<\/td>\n<\/tr>\n
<\/td>\n<\/tr>\n
Parent Company<\/td>2025<\/td>2024<\/td>\n<\/tr>\n
Due for payment during the following accounting period<\/td>869<\/td>348<\/td>\n<\/tr>\n
Due for payment later<\/td>3 476<\/td>523<\/td>\n<\/tr>\n
Total<\/td>4 346<\/td>871<\/td>\n<\/tr>\n
<\/td>\n<\/tr>\n
<\/td>\n<\/tr>\n
3.11.3. Contingent liability on behalf of group companies<\/td>2025<\/td>2024<\/td>\n<\/tr>\n
Consolidated<\/td>22 090<\/td>255<\/td>\n<\/tr>\n
Parent Company<\/td>22 090<\/td>255<\/td>\n<\/tr>\n
<\/td>\n<\/tr>\n
3.11.4. Other contingent liabilities<\/td>\n<\/tr>\n
Consolidated<\/td>2025<\/td>2024<\/td>\n<\/tr>\n
Contingencies on own behalf<\/td>3 532<\/td>3 457<\/td>\n<\/tr>\n
Guarantees given by the bank for the company<\/td>21 433<\/td>21 433<\/td>\n<\/tr>\n
Refund responsibility for value added tax on real estate investments<\/td>4 139<\/td>3 396<\/td>\n<\/tr>\n
<\/td>\n<\/tr>\n
Parent Company<\/td>2025<\/td>2024<\/td>\n<\/tr>\n
Contingencies on own behalf<\/td>3 381<\/td>3 320<\/td>\n<\/tr>\n
Guarantees given by the bank for the company<\/td>21 433<\/td>21 433<\/td>\n<\/tr>\n
Refund responsibility for value added tax on real estate investments<\/td>4 139<\/td>3 396<\/td>\n<\/tr>\n
3.11.5. Covenants<\/td>\n<\/tr>\n
The company\u2019s secured loans include covenant terms. The covenant terms for the financial year 2024 are solvency and net debt\/EBITDA, and the covenant term for the financial year 2025 is net debt\/EBITDA.<\/td>\n<\/tr>\n
During the financial year 2025, the company repaid the loan that was subject to a solvency term. During the financial year 2025, the covenant terms were not breached.<\/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 thousand euros (EUR). Forcit Defence […]<\/p>\n

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