Notes to the company financial statements

2.1 Accounting policies

The company financial statements have been prepared according to the statutory provisions of Part 9 of Book 2 of the Dutch Civil Code. To determine the accounting policies relating to valuation of assets and liabilities and the determination of the result for its company financial statements, Hydratec makes use of the option offered in Book 2, Section 362(8) of the Dutch Civil Code. This means that the accounting policies for Hydratec’s company financial statements are the same as those used for the consolidated financial statements and thus participating interests over which there is significant influence are measured according to the net asset value method. The consolidated financial statements have been prepared according to the standards adopted by the International Accounting Standards Board and accepted by the European Union. Please refer to the accounting policies for the consolidated financial statements for a description of these accounting policies. The company financial statements are prepared on the basis of the going concern principle for which reference is made to section 1.1.3 of the consolidated financial statements. The share in the profits of participations comprises Hydratec’s share in the results of these participating interests. Results of transactions in which assets and liabilities have been transferred between Hydratec and its participating interests are not recognised if they are considered not to have been realised.

2.2 Goodwill

The goodwill recognised by the company of €13.5 million consists of the amounts related to Royal Pas Reform and Lan Handling Technologies (2024: €13.5 million).

2.3 Statement of changes in financial fixed assets

2.3.1 Financial fixed assets

Unless otherwise specified, Hydratec owned direct and indirect shares in the following companies as at 31 December 2025 (where companies are not wholly owned, the equity stake is shown in brackets): Helvoet Deutschland GmbH and Helvoet Rubber & Plastic Technologies GMBH & CO KG account for 100% of participations without control as a result of the insolvency filing; equity instruments are therefore available at the end of the financial year. Lias Industries B.V. holds a 60% stake in Proqraft Holding B.V. without control. On 2 January 2026, Lias Industries B.V. increased its stake in Proqraft Holding B.V. to 80%, thereby gaining control over Proqraft Holding B.V. For further explanation, see the “Events after the balance sheet date” section.

2.3.2 Loans to group companies

The loans are loans to group companies and relate to:

• a loan with a carrying amount of €1.5 million (2024: €1.5 million) and a maturity date of 31 December 2032. The interest rate is 5% per annum; and

• a loan with a carrying amount of €5.6 million (2024: €9.8 million) and a maturity date of 18 December 2029. The interest is the 1-month Euribor with a surcharge of 2.3%.

2.4 Group companies

Receivables from and debts to group companies relate to current account positions associated with the bank facility and call money, over which interest on market terms is charged.

2.5 Shareholders’ equity

Please refer to note 1.38 for the statement of changes in shareholders’ equity. As at 31 December 2025, there were 1,299,848 shares outstanding each with a nominal value of €0.45 (2024: 1,298,307 shares). No rights have been assigned to taking shares in the capital of the company.

2.6 Provisions

The provisions relate to SAR schemes. For a further explanation, see section 1.40.4. The term is non-current.

2.7 Debts to credit institutions

The debts to credit institutions concern the current account with the bank. See note 1.43.

2.8 Other liabilities, accruals and deferred income

The remaining debts consist of social security contributions, outstanding costs and other liabilities.

2.9 Off-balance sheet commitments

The company has been part of a fiscal unity for corporate income tax purposes since 1 July 2021. Settlement takes place through the receivables from or debts to group companies.

Hydratec has issued a statement of joint and several liability to the following companies:

In addition, Hydratec is jointly and severally liable for the bank facility as described in 1.43. This liability applies with respect to the companies listed below:

2.10 Personnel costs

The company had an average of 7 employees in 2025 (2024: 7). Please refer to note 1.25.3 for the remuneration of the Management Board.

Amersfoort, 25 February 2026

Management Board under the articles of association

• B. F. Aangenendt

• E. H. Slijkhuis

Supervisory Board

• D. J. Raithel

• J. ten Cate

• M. E. P. Sanders

The management report as referred to in Part 9 of Book 2 of the Dutch Civil Code monitors the elements from the foreword to the historical summary inclusive. This version of the annual financial reporting of Hydratec Industries N.V. for the financial year ending on 31 December 2025 is not presented in the ESEF format as specified in the regulatory technical standards for ESEF (Delegated Regulation (EU) 2019/815). The set of ESEF reports can be downloaded at the download page.