Financial statements to 31-12-2024
Name and id code | |
Company site | PIAZZA IV NOVEMBRE 4 20124 MILANO(MI) |
Fiscal code | 01228050116 |
Registration number | MI 1979161 |
VAT number | 01228050116 |
Share capital Euro | 734.700 f.p. |
Legal form | (03) Societa' per Azioni |
Activity Code (ATECO) | (582900) EDIZIONE DI ALTRI SOFTWARE A PACCHETTO ( |
Company being wound up | no |
Company with a single shareholder | no |
Company subject to the management and coordination of others | no |
Belonging to a group | no |
31-12-2024 31-12-2023
Balance sheet (mandatory scheme) | ||
Assets | ||
B) Fixed assets | ||
I - Intangible fixed assets | ||
3) industrial patents and intellectual property rights | 3.595 | 5.954 |
7) other | 106.430 | 164.330 |
Total intangible fixed assets | 110.025 | 170.284 |
II - Tangible fixed assets | ||
1) land and buildings | 446.989 | 462.230 |
2) plant and machinery | 7.956 | 6.158 |
3) industrial and commercial equipment | (14) | 76 |
4) other assets | 29.528 | 32.155 |
Total tangible fixed assets | 484.459 | 500.619 |
Total fixed assets (B) | 594.484 | 670.903 |
C) Current assets | ||
II - Receivables | ||
1) trade accounts | ||
due within the following year | 672.832 | 441.542 |
Total trade accounts | 672.832 | 441.542 |
5-b) tax receivables | ||
due within the following year | 49.679 | 36.311 |
Total receivables due from tax authorities | 49.679 | 36.311 |
5-d) other receivables | ||
due within the following year | 118.476 | 7.947 |
Total receivables due from third parties | 118.476 | 7.947 |
Total receivables | 840.987 | 485.800 |
IV - Liquid funds | ||
1) bank and post office deposits | 488.723 | 487.569 |
3) cash and equivalents on hand | 10.630 | 10.174 |
Total liquid funds | 499.353 | 497.743 |
Total current assets (C) | 1.340.340 | 983.543 |
D) Accrued income and prepayments | 6.626 | 16.683 |
Total assets | 1.941.450 | 1.671.129 |
Liabilities and shareholders' equity | ||
A) Shareholders' equity | ||
I - Share capital | 734.700 | 734.700 |
IV - Legal reserve | 33.857 | 29.312 |
VI - Other reserves, indicated separately | ||
Extraordinary reserve | 176.860 | 175.587 |
Contributions for future capital increase | 2.300 | 2.300 |
Miscellaneous other reserves | (1) | (2) |
Total other reserves | 179.159 | 177.885 |
IX - Net profit (loss) for the year | 421.926 | 90.902 |
Total shareholders' equity | 1.369.642 | 1.032.799 |
B) Reserves for contingencies and other charges | ||
1) pension and similar commitments | 5.000 | - |
Total reserves for contingencies and other charges | 5.000 | - |
Total reserve for severance indemnities (TFR) 16.018 18.030
D) Payables | ||
4) due to banks | ||
due beyond the following year | 28.919 | 53.433 |
Total payables due to banks | 28.919 | 53.433 |
6) advances | ||
due within the following year | 16.591 | 8.300 |
Total advances | 16.591 | 8.300 |
7) trade accounts | ||
due within the following year | 371.221 | 343.054 |
Total trade accounts | 371.221 | 343.054 |
12) due to tax authorities | ||
due within the following year | 94.599 | 86.268 |
Total payables due to tax authorities | 94.599 | 86.268 |
13) due to social security and welfare institutions | ||
due within the following year | 14.892 | 17.438 |
Total payables due to social security and welfare institutions | 14.892 | 17.438 |
14) other payables | ||
due within the following year | 24.568 | 111.807 |
Total other payables | 24.568 | 111.807 |
Total payables (D) | 550.790 | 620.300 |
Total liabilities and shareholders' equity | 1.941.450 | 1.671.129 |
31-12-2024 31-12-2023
Income statement (value and cost of production) | ||
A) Value of production | ||
1) Revenues from sales and services | 1.820.163 | 1.356.074 |
5) Other income and revenues | ||
other | 108 | 106 |
Total Other income and revenues | 108 | 106 |
Total value of production | 1.820.271 | 1.356.180 |
B) Costs of production | ||
6) Raw, ancillary and consumable materials and goods for resale | 82.317 | 59.173 |
7) Services | 624.215 | 573.116 |
8) Use of third party assets | 40.340 | 41.328 |
9) personnel | ||
a) wages and salaries | 296.583 | 311.463 |
b) related salaries | 109.903 | 106.907 |
c) severance | 19.890 | 21.460 |
Total payroll and related costs | 426.376 | 439.830 |
10) depreciation, amortisation and write downs | ||
a) amortisation of intangible fixed assets | 60.259 | 59.187 |
b) depreciation of tangible fixed assets | 27.582 | 27.177 |
Total Amortisation, depreciation and write-downs | 87.841 | 86.364 |
13) Other provisions | 5.000 | 5.000 |
14) Other operating expenses | 74.628 | 11.010 |
Total cost of production | 1.340.717 | 1.215.821 |
Difference between value and cost of production (A - B) | 479.554 | 140.359 |
C) Financial income and charges | ||
17) Interest and other financial expense | ||
other | 2.262 | 2.541 |
Total interest and other financial expense | 2.262 | 2.541 |
17-bis) Currency gains and losses | (4) | - |
Total financial income and expense (15 + 16 - 17 + - 17-bis) | (2.266) | (2.541) |
Pre-tax result (A - B + - C + - D) | 477.288 | 137.818 |
20) Income tax for the year, current, deferred and prepaid | ||
Current taxes | 55.362 | 46.916 |
Total taxes on the income for the year | 55.362 | 46.916 |
21) Profit (loss) for the year
421.926
90.902
Financial statement, indirect method31-12-2024 31-12-2023
Financial statement, indirect method | ||
A) Cash flows from current activities (indirect method) | ||
Profit (loss) for the year | 421.926 | 90.902 |
Income tax | 55.362 | 46.916 |
Payable (receivable) interest | 2.261 | 2.541 |
(Capital gains)/Capital losses from business conveyance | - | 130 |
1) Profit (loss) for the year before income tax, interest, dividends and capital gains/losses from conveyances. | 479.549 | 140.488 |
Adjustments to non monetary items that were not offset in the net working capital. | ||
Allocations to preserves | 24.890 | 26.460 |
Fixed asset depreciation/amortisation | 87.841 | 86.364 |
total adjustments for non-monetary items that were not offset in the net working capital | 112.731 | 112.824 |
2) Cash flow before changing net working capital | 592.280 | 253.312 |
Changes to the net working capital | ||
Decrease/(increase) in payables to customers | (231.290) | (90.794) |
Increase/(decrease) in trade payables | 28.167 | (31.689) |
Increase/(decrease) from prepayments and accrued income | 10.057 | 2.294 |
Other decreases/(other increases) in net working capital | (197.060) | 125.099 |
Total changes to net working capital | (390.126) | 4.910 |
3) Cash flow after changes to net working capital | 202.154 | 258.222 |
Other adjustments | ||
Interest received/(paid) | (2.261) | (2.541) |
(Income tax paid) | (55.362) | (46.916) |
(Use of reserves) | (21.902) | (56.323) |
Total other adjustments | (79.525) | (105.780) |
Cash flow from current activities | 122.629 | 152.442 |
B) Cash flows from investments | ||
Tangible fixed assets | ||
(Investments) | (11.422) | (8.469) |
Intangible fixed assets | ||
Disposals | - | 4.576 |
Financial fixed assets | ||
Disposals | - | 15.000 |
Cash flows from investments (B) | (11.422) | 11.107 |
C) Cash flows from financing activities | ||
Loan capital | ||
New loans | (24.514) | (46.556) |
Equity | ||
(Dividends and advances on dividends paid) | (85.083) | (50.000) |
Cash flows from financing activities ( C) | (109.597) | (96.556) |
Increase (decrease) in liquid assets (A ± B ± C) | 1.610 | 66.993 |
Liquid assets at the start of the year | ||
Bank and post office deposits | 487.569 | 411.784 |
Cash and valuables in hand | 10.174 | 18.965 |
Total liquid assets at the start of the year | 497.743 | 430.749 |
Liquid assets at the end of the year | ||
Bank and post office deposits | 488.723 | 487.569 |
Cash and valuables in hand | 10.630 | 10.174 |
Total liquid assets at the end of the year | 499.353 | 497.743 |
Pursuant to Art. 2425-ter of the Italian Civil Code, the cash flow statement shows, for the current and previous year, the amount and composition of cash and cash equivalents at the beginning and at the end of the year, and the financial flows for the year arising from operating, investing and financing activities, including, with separate indication, transactions with shareholders.
Supplementary Notes to the Financial statements to 31-12-2024 Supplementary notes, initial partIntroduction
Dear Shareholders, the financial statements for the year ended 31/12/2024 have been prepared in accordance with
Articles 2423 et seq. of the Italian Civil Code, integrated with the accounting principles issued by the Italian Accounting Organization, on the basis of the provisions contained in Legislative Decree 139/2015 and the amendments introduced thereby.
The financial statements close with a net profit of EUR 421,926 at the time of drafting, net of current, deferred, and prepaid income taxes.
The general clauses for the preparation of the financial statements (Art. 2423 of the Italian Civil Code), the principles for drafting the statements (Art. 2423-bis of the Italian Civil Code), and the valuation criteria for the individual items (Art. 2426 of the Italian Civil Code) have been complied with.
Pursuant to Art. 2423, paragraph 2, of the Italian Civil Code, it should be noted that the financial statements have been prepared with clarity and present a true and fair view of the company's financial position and performance. Pursuant to Art. 2423, paragraph 3, of the Italian Civil Code, the following supplementary information required by specific legal provisions for a true and fair representation is provided:
Pursuant to Art. 2423, paragraph 6, of the Italian Civil Code, it should be noted that the financial statements for the year ended have been prepared in euro units, without decimal figures; any differences resulting from rounding the values expressed in euro units are allocated to the specific equity reserve.
Classification Conventions
In preparing the financial statements, the following classification conventions have been adopted:
The asset items of the balance sheet have been classified according to their intended business use, while the
liabilities have been classified according to their origin. With reference to items requiring separate disclosure of receivables and payables due within or beyond the following financial year, the criterion of actual collectability was followed, based on forecasts of the effective possibility of collection within the following year.
The income statement was prepared taking into account three distinct reclassification criteria, in particular: the subdivision of the entire management area into the four sub-areas identified in the statutory scheme; the preference for classifying costs by nature rather than by function; and the need to correctly highlight the
intermediate results in the formation of the year's result.
Activities Carried Out
Your company operates in the production of software, particularly in the biomedical sector.
During the year, operations were carried out regularly; no events occurred that significantly altered business performance, nor required recourse to the exceptions provided under Art. 2423, paragraph 4, of the Italian Civil Code.
Publishing PrinciplesPursuant to Art. 2423-bis of the Italian Civil Code, the following principles have been observed in the preparation of the financial statements.
The valuation of the balance sheet items has been carried out prudently and on the assumption of going concern.
The recognition and presentation of the items have been made taking into account the substance of the transaction or contract.
Only profits realized by the closing date of the financial year have been recognized.
Income and expenses pertaining to the year have been considered, regardless of the date of collection or payment. Risks and losses pertaining to the year have been taken into account, even if they became known after its closing.
Heterogeneous elements included under individual items have been evaluated separately. The valuation criteria have not been changed compared to the previous year.
Exceptional Cases Pursuant to Art. 2423, Fifth Paragraph, of the Civil CodePursuant to Art. 2423, paragraph 5, of the Italian Civil Code, it should be noted that none of the exceptions provided therein were applied.
Comparability and Adaptability ProblemsIn compliance with the provisions of Art. 2423-ter of the Italian Civil Code, for each item of the Balance Sheet and the Income Statement, the corresponding amount from the previous year has been indicated.
Applied Evaluation CriteriaThe criteria used in the preparation of the financial statements as at 31/12/2024 comply with the provisions of Art. 2426 of the Italian Civil Code.
Pursuant to Art. 2427, paragraph 1, no. 1), of the Italian Civil Code, the criteria applied in the valuation of the items in the financial statements, in value adjustments, and in the conversion of values not originally expressed in the legal currency of the State, are set out below.
Fixed AssetsFixed assets are recognized at purchase or production cost; purchase cost also includes ancillary costs.
Production cost includes all costs directly attributable to the product; it also includes, for the portion reasonably attributable to the product, other costs relating to the period of manufacture up to the time when the asset can be used; using the same criteria, charges relating to the financing of production, whether internal or by third parties, have been included. Fixed assets represented by securities are recognized in the financial statements at amortized cost, where applicable.
The cost of tangible and intangible fixed assets with a limited useful life is systematically amortized each year in relation to their residual useful life.
Changes to the amortization criteria and applied coefficients are indicated and justified below.
Fixed assets that, at the closing date of the year, are permanently of a lower value than that determined pursuant to numbers 1) and 2) of Art. 2426 of the Italian Civil Code have been recognized at this lower value.
This lower value has not been maintained for those fixed assets for which the reasons for the adjustment no longer exist (this provision does not apply to value adjustments relating to goodwill).
Start-up and expansion costs and development costs with multi-year utility are recognized under assets with the approval, where applicable, of the Board of Statutory Auditors.
Start-up and expansion costs are amortized over a period not exceeding five years.
Development costs are amortized according to their useful life; in exceptional cases where it is not possible to reliably estimate their useful life, they are amortized over a period not exceeding five years.
Until the amortization of start-up, expansion, and development costs has been completed, dividends are distributed only if there are sufficient available reserves to cover the amount of unamortized costs.
Goodwill is recognized under assets with the approval, where applicable, of the Board of Statutory Auditors, if acquired for consideration, up to the cost incurred.
Goodwill is amortized according to its useful life; in exceptional cases where it is not possible to reliably estimate its useful life, it is amortized over a period not exceeding ten years. The amortization period of goodwill is explained below.
Receivables and PayablesReceivables and payables are recognized in the financial statements at amortized cost, taking into account the time factor and, for receivables, their presumed realizable value.
Monetary Assets and Liabilities in Foreign CurrencyMonetary assets and liabilities in foreign currency are recognized at the spot exchange rate on the balance sheet date; the resulting exchange gains or losses are charged to the income statement, and any net gain is allocated to a specific non-distributable reserve until realized.
Non-monetary assets and liabilities in foreign currency are recognized at the exchange rate in effect at the time of their acquisition.
Revenues, Income, Costs, and ExpensesRevenues and income, costs and expenses are recorded net of returns, discounts, allowances, and bonuses, as well as taxes directly connected to the sale of products and the provision of services.
Revenues and income, costs and expenses relating to foreign currency transactions are determined at the exchange rate in effect on the date the transaction was carried out.
Income and expenses relating to forward repurchase agreements, including the difference between the forward price and the spot price, are recognized in proportion to the share attributable to the year.
Capital gains arising from sale-and-leaseback transactions are allocated according to the duration of the lease contract.
Supplementary Notes - Assets
The assets of the financial statements are analyzed below, with evidence pursuant to Art. 2427, paragraph 1, no. 4) of the Italian Civil Code, of the changes in the consistency of the other asset items.
Fixed Assets
The following section provides an analysis of intangible, tangible, and financial fixed assets.
Intangible Fixed Assets
The following section provides an analysis of intangible fixed assets.
Changes in Intangible Fixed Assets
Pursuant to Art. 2427, paragraph 1, no. 2) of the Italian Civil Code, the following schedule shows the movements in
intangible fixed assets, specifying for each item: cost, previous revaluations, depreciation and write-downs; acquisitions, transfers from one item to another, disposals during the year, revaluations, depreciation and write-downs carried out during the year, and the total revaluations relating to intangible fixed assets existing at the end of the year.
Intangible Fixed Assets
Intangible fixed assets consist of research and development costs and other costs with multi-year use.
Tangible Fixed Assets
The following section provides an analysis of tangible fixed assets.
Changes in Tangible Fixed Assets
Pursuant to Art. 2427, paragraph 1, no. 2) of the Italian Civil Code, the following schedule shows the movements in
tangible fixed assets, specifying for each item: cost, previous revaluations, depreciation and write-downs; acquisitions, transfers from one item to another, disposals during the year, revaluations, depreciation and write-downs carried out during the year, and the total revaluations relating to tangible fixed assets existing at the end of the year.
Land and buildings | Plant and machinery | Industrial and commercial equipment | Other tangible fixed assets | Total tangible fixed assets | |
Year opening balance | |||||
Cost | 597.726 | 23.614 | 13.449 | 139.771 | 774.560 |
Amortisation (amortisation fund) | 135.495 | 17.456 | 13.372 | 107.616 | 273.939 |
Tangible fixed assets consist of the company building, plants, office furniture and furnishings, and various equipment. Current Assets
The current assets are analyzed below.
Receivables Included among Current Assets
The following section provides an analysis of receivables recorded under current assets.
Changes and Maturity of Receivables Posted to Current Assets
Pursuant to Art. 2427, paragraph 1, no. 4) of the Italian Civil Code, the changes in receivables recorded under current assets are shown below, with evidence of amounts falling due within and beyond the financial year and, pursuant to Art. 2427, paragraph 1, no. 6), of those with a residual maturity exceeding five years.
Year opening balance | Change during the year | Year closing balance | Amount due within 12 months | |
Trade receivables included among current assets | 441.542 | 231.290 | 672.832 | 672.832 |
Tax receivables included among current assets | 36.311 | 13.368 | 49.679 | 49.679 |
Other receivables included among current assets | 7.947 | 110.529 | 118.476 | 118.476 |
Total receivables included among current assets | 485.800 | 355.187 | 840.987 | 840.988 |
Receivables are recorded at their presumed realizable value.
Liquid funds
Pursuant to Art. 2427, paragraph 1, no. 4) of the Italian Civil Code, the changes in cash and cash equivalents during the year are presented below, with the balance representing the existence of cash and cash equivalents at the closing date of the financial year.
Year opening balance | Change during the year | Year closing balance | |
Bank and post office deposits | 487.569 | 1.154 | 488.723 |
Cash and other cash in hand | 10.174 | 456 | 10.630 |
Total liquid funds | 497.743 | 1.610 | 499.353 |
Cash and cash equivalents are measured at nominal value..
accrued income and prepaymentsAccrued income and prepaid expenses include income accruing to the current year but collectible in subsequent years, and costs incurred before the year-end but pertaining to subsequent years. Only portions of income and costs common to two or more years, the amount of which varies over time, are recorded under these items.
Pursuant to Art. 2427, paragraph 1, no. 4) of the Italian Civil Code, the changes that occurred during the year are presented below.
Year opening balance | Change during the year | Year closing balance | |
Deferred income | 16.683 | (10.057) | 6.626 |
Total accrued income and prepaid expenses | 16.683 | (10.057) | 6.626 |
This item essentially consists of the deferral of costs already recorded.
Supplementary notes, liabilities and net equityThe liabilities and shareholders' equity of the financial statements are analyzed below, with evidence pursuant to Art. 2427, paragraph 1, no. 4) of the Italian Civil Code, of the changes in the consistency of the other liability items and, in particular, for shareholders' equity, provisions, and severance indemnity, regarding their formation and utilizations.
Shareholders' equityShareholders' equity consists of the company's own resources employed for the conduct of business activities.
Changes in shareholders' equity
Pursuant to Art. 2427, paragraph 1, no. 4) of the Italian Civil Code, the items of shareholders' equity are analytically presented in the following statements, showing their formation and utilizations. Pursuant to Art. 2427, paragraph 1, nos. 7 and 7-bis) of the Italian Civil Code, the items of shareholders' equity and other reserves are analytically presented in the following statements, specifying their origin, possibilities of utilization and distribution, as well as their utilization in previous years.
It is worth noting that, by notarial deed Patanè, rep. no. 92,168 of 05.04.2017, the company carried out an initial capital increase from EUR 100,000.00 to EUR 171,250.00, partly free of charge through the allocation of the extraordinary reserve of EUR 37,000.00 and partly for consideration, by offering said shares to a new shareholder for EUR 34,250.00, in addition to a share premium of EUR 65,750.00, for a total amount of EUR 100,000.00. Subsequently, by notarial deed Patanè, rep. no. 92,315 of 25.05.2017, the company further increased its share capital free of charge from EUR 171,250.00 to EUR 237,000.00 using the share premium reserve of EUR 65,750.00, and furthermore was transformed
into a joint stock company (S.p.A.) with share capital divided into 2,370,000 shares with a nominal value of EUR 0.10 each. In addition, a payment by shareholders was made into a future capital increase reserve amounting to EUR 500,000.00. On 23.03.2018, the company was listed on the Euronext Stock Exchange in Paris. Finally, by notarial deed Infantino, rep. no. 44,942 of 19.12.2019, the company further increased its share capital from EUR 237,000.00 to EUR 734,700.00 through the use of the aforementioned reserve for a future capital increase, increasing the nominal value of the outstanding shares from EUR 0.10 to EUR 0.31 each.
Use of shareholders' equity
Pursuant to Art. 2427, paragraph 1, nos. 7 and 7-bis) of the Italian Civil Code, the following details are provided for each item of shareholders' equity and for the other reserves: their origin/nature, possibilities of utilization, available portion, and distributability, as well as their utilization in the previous three years for the coverage of losses or for other purposes.
Amount | Origin / nature | Possible use | Available amount | |
Capital | 734.700 | - | ||
Legal reserve | 33.857 | U | B | - |
Amount | Origin / nature | Possible use | Available amount | |
Other reserves | ||||
Extraordinary reserve | 176.860 | U | A,B,C,D,E | 176.860 |
Contributions for future capital increase | 2.300 | C | A,B,C,D,E | 2.300 |
Miscellaneous other reserves | (1) | - | ||
Total other reserves | 179.159 | 179.160 | ||
Total | 947.716 | 179.160 | ||
Residual available share | 179.160 |
Key: A: for capital increase, B: to cover losses, C: distribution to shareholders, D: for other articles of association restrictions, E: other
Pursuant to Art. 2426, no. 5 of the Italian Civil Code, profits and reserves are not distributable in an amount equal to the start-up, expansion, and development costs with multi-year utility that have not yet been amortized.
Provisions for risks and chargesPursuant to Art. 2427, paragraph 1, no. 4) of the Italian Civil Code, the following information is provided on provisions for risks and charges, showing their formation and utilizations.
Provisions for pension liabilities and similar obligations | Total provisions for risks and charges | |
Changes during the year | ||
Operating accrual | 5.000 | 5.000 |
Total changes | 5.000 | 5.000 |
Year closing balance | 5.000 | 5.000 |
The amount essentially consists of the provision for the directors' severance indemnity fund (TFM).
Staff severance fundPursuant to Art. 2427, paragraph 1, no. 4) of the Italian Civil Code, the following information is provided on the severance indemnity for employees, showing its formation and utilizations. The amount has been calculated in accordance with Art. 2120 of the Italian Civil Code.
Staff severance fund | |
Year opening balance | 18.030 |
Changes during the year | |
Operating accrual | 19.890 |
Use in the financial year | 21.902 |
Total changes | (2.012) |
Year closing balance | 16.018 |
The severance indemnity liability changed as a result of the provisions and utilizations indicated above.
Payables due to companies controlled by parent companiesThe composition of the company's liabilities is analyzed below.
Payables changes and due date
Pursuant to Art. 2427, paragraph 1, no. 4) of the Italian Civil Code, the changes in liabilities are analyzed below, showing the amounts falling due within and beyond the financial year and, pursuant to Art. 2427, paragraph 1, no. 6) of the Italian Civil Code, those with a residual maturity exceeding five years.
Liabilities are recorded at nominal value.
Liabilities due beyond the financial year consist of certain loans entered into with Banca Carispezia - Crédit Agricole, repayable in 60 monthly instalments.
Supplementary notes, income statementThe company's income statement shows a significantly positive trend, with an increase in production value of more than 25% compared to the previous year.
Value of productionThe production value consists of revenues from sales and services, changes in inventories of work in progress, semi-finished and finished products, changes in contract work in progress, increases in fixed assets for internal work, and other revenues and income.
Cost of productionThe components of production costs are analyzed below.
Costs for raw materials, supplies, consumables and goods, costs for services, and costs for the use of third-party assets These are closely related to the trend in point A (production value) of the income statement.
Personnel costs
This item includes the total cost of employees, including merit increases, promotions, contingency increments, the cost of unused vacation, and accruals required by law and collective agreements.
Depreciation of tangible fixed assets
As regards depreciation, it should be noted that it has been calculated based on the useful life of the asset and its utilization in the production phase.
Financial income and chargesFinancial income and expenses for the year are analyzed below.
Breakdown of interest and other financial liabilities by payables type
Pursuant to Art. 2427, paragraph 1, no. 12) of the Italian Civil Code, the breakdown of interest and other financial charges referred to in Art. 2425, no. 17) of the Italian Civil Code, relating to bond loans, bank borrowings, and others, is detailed below.
Interest and other financial liabilities | |
Payables to banks | 1.949 |
other | 313 |
Total | 2.262 |
Taxes are allocated based on the expected liability for the year and consist of current taxes.
It is worth noting that the company adhered to the two-year preventive agreement for the years 2024 and 2025 pursuant to Legislative Decree no. 13 of 12.02.2024; therefore, the IRES and IRAP tax liability for 2024 has been accrued on the basis of the aforementioned legislation.
Supplementary notes, financial statementWith regard to the company's cash flow statement, it is considered useful to point out that it has been prepared using the indirect method.
Supplementary notes, other informationIt is considered that there is no further information to be highlighted.
Employment dataPursuant to Art. 2427, paragraph 1, no. 15) of the Italian Civil Code, the average number of the company's employees, broken down by category, is shown below.
Average number | |
Office staff | 11 |
Other employees | 1 |
Total employees | 12 |
Pursuant to Art. 2427, paragraph 1, no. 16) of the Italian Civil Code, the amount of compensation, advances, and loans granted to directors and statutory auditors, cumulatively for each category, is shown below, specifying the interest rate, the main conditions, and the amounts repaid, canceled, or waived, as well as the commitments undertaken on their
behalf as a result of guarantees of any kind provided, indicating the total for each category.
Directors | Auditors | |
Remuneration | 121.538 | 7.500 |
The remuneration of the Board of Statutory Auditors is determined on the basis of the professional fee schedule.
Proposed use of profits or hedging of lossesPursuant to Art. 2427, paragraph 1, no. 22-septies) of the Italian Civil Code, the decision regarding the allocation of the net result for the year of EUR 421,926.36 is referred to the shareholders' meeting.
Supplementary notes, final partThese financial statements, consisting of the balance sheet, income statement, cash flow statement, and notes, present a true and fair view of the company's financial position and performance and correspond to the results of the accounting records. This explanatory note forms an integral part of the financial statements, and the accounting information
contained herein corresponds to the company's accounting records kept in compliance with current regulations. It is considered that there is no further information to be provided, beyond that required by specific legal provisions, in order to give a true and fair representation of the company's financial position and performance. It is reiterated that the
valuation criteria set out herein comply with civil law regulations, and the results of the financial statements correspond to the balances of the accounting records kept in compliance with current regulations.
Milano, 28.02.2025.
The Chairman of the Board of Directors (Dr. Massimo Ivani)
Balance sheet conformity statementIt is hereby declared that the electronic document in XBRL format containing the balance sheet and the income statement is consistent with the corresponding original documents filed with the company.
The undersigned sole director declares that this electronic document in XBRL format is consistent with that which will be transcribed and signed in accordance with the law in the company's statutory books kept pursuant to law.
Copy on electronic media consistent with the original document on paper, pursuant to Articles 38 and 47 of Presidential Decree 445/2000, transmitted for use by the Companies Register.