1.1 General

1.1.1 Introduction

Hydratec Industries N.V. (hereinafter referred to as Hydratec) has its registered office and principal place of business in Amersfoort, the Netherlands, and is registered with the Chamber of Commerce under number 23073095. The company’s consolidated financial statements for the year ending 31 December 2025 comprise the financial statements of the company and all its subsidiaries (referred to jointly as ‘the Group’). The Group comprised the following subsidiaries as at 31 December 2025:

Name	Business location
Timmerije B.V.	Neede, Netherlands
Lias Industries B.V.	Amersfoort, Netherlands
Pas Reform B.V.	Zeddam, Netherlands
Pas Reform Participações LTDA	São Paulo, Brazil
Pas Reform do Brasil LTDA	São Paulo, Brazil
Windmolen Holding LTDA	São Paulo, Brazil
ION	São Paulo, Brazil
Pas Reform North America LLC	Jacksonville, US
Lias Vastgoed B.V.	Zeddam, Netherlands
Lan Handling Technologies B.V.	Tilburg, Netherlands
Lan Vastgoed B.V.	Tilburg, Netherlands
ABAR Automation B.V.	Halfweg, Netherlands
LAN Handling Solutions B.V.	Tilburg, Netherlands
LAN Robotics B.V.	Tilburg, Netherlands
LAN Services International B.V.	Tilburg, Netherlands
Lan Handling North America LLC	Jacksonville, US
Polmer Sp. z o.o.	Wroclaw, Poland
Helvoet Rubber & Plastic Technologies B.V.	Tilburg, Netherlands
Helvoet Rubber & Plastic Technologies N.V.	Lommel, Belgium
High Technology Plastics (India) Pvt. Ltd.	Pune, India
Helvoet Polska Sp. z.o.o.	Kaniów, Poland
Rollepaal Pipe Extrusion Technology B.V.	Dedemsvaart, Netherlands
Rollepaal Inc.	Baltimore, US
Rollepaal Engineering India Pvt. Ltd.	Ahmedabad, India
Hydratec Holdco B.V.	Amersfoort, Netherlands
Hydratec Sub B.V.	Amersfoort, Netherlands

Unless otherwise specified, the Group is the sole shareholder of these companies. All subsidiaries have the same reporting date as Hydratec and their financial year also ends on 31 December.

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. (trading as: Eqraft®), with significant influence but not control.

On 2 January 2026, Lias Industries B.V. increased its share in Proqraft Holding B.V. to 80%, thereby gaining control over Proqraft Holding B.V. For further explanation, see the “Subsequent Events” section.

During the financial year, Pas Reform B.V. acquired the remaining equity share of 45.5% in ION. As a result, the Group owns 100% of the shares in ION at the balance sheet date and ION is fully consolidated without a minority share.

Please refer to the Profile section where Hydratec’s company profile is given for a summary of the Group’s activities.

The annual figures have been prepared by the Management Board and, following the approval of the Supervisory Board, were released for publication on 25 February 2026. The 2025 annual report and financial statements were discussed in the Supervisory Board meeting held on 25 February 2026 and will be presented to the General Meeting of Shareholders on 17 April 2026 for its approval.

1.1.2 General accounting policies

The basis for preparation of the financial statements is historical cost, unless specified otherwise below. The financial statements are presented in euros (€). Amounts are in thousands of euros unless stated otherwise. The euro is Hydratec’s functional and presentation currency. The financial statements have been prepared in accordance with IFRS-EU standards. This requires management to make judgements, estimates and assumptions that affect the application of guidelines and the reported value of assets, liabilities, income and expenditure. These estimates and underlying assumptions are based on past experience and various other factors which are considered fair under the circumstances. The estimates and assumptions serve as the basis for judgements on the value of recognised assets and liabilities the scale of which cannot yet be derived from other sources. The actual results may differ from these estimates. The estimates and underlying assumptions are under constant review. Revisions to estimates and assumptions are recognised in the period in which the estimates are revised if the revision only relates to that period, or in the revision period and future periods if the revision has consequences for both the current period and future periods. The accounting policies are consistently applied by the companies in the Group for the periods presented in these consolidated financial statements.

1.1.3 Continuity

Thorough liquidity forecasts and expected revenue lead us to envisage no risks in terms of insufficient liquidity, failing to meet our credit agreements or continuity problems over the coming 12 months.

Vorige Consolidated cash flow statement

Volgende 1.2 Statement of compliance

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.