1.32.2. Participating interests
|
x €1,000 |
Participating interests |
|
Carrying amount as at 31 December 2024 |
13,307 |
|
Acquisition of participating interest |
|
|
Share of result from participating interest |
1,811 |
|
Capital contributions |
|
|
Dividend received |
|
|
Disposals |
|
|
Carrying amount as at 31 December 2025 |
15,118 |
Lias Industries B.V. holds a 60% shar in Proqraft Holding B.V. Lias Industries B.V. must be involved in all decisions. Hence, Lias Industries B.V. has significant influence in Proqraft Holding B.V. Despite this majority share, Lias Industries B.V. does not have control as at 31 December 2025, as strategic and operational decisions require the consent of the other shareholders. This share is therefore recognised as a participation in which significant influence is exercised; the share in the value of the participation as at 31 December 2025 amounts to €15.1 million (2024: €13.3 million).
The table below summarises the financial information of Proqraft Holding B.V. as included in its own financial statements, adjusted for fair value adjustments arising on acquisition and for differences in accounting policies.
|
x €1,000 |
2025 |
2024 |
|
|
Total fixed assets |
25,773 |
15,011 |
|
|
Total current assets |
33,060 |
36,031 |
|
|
Total assets |
58,833 |
51,042 |
|
|
Total equity |
13,202 |
529 |
|
|
Total provisions and non-current liabilities |
13,816 |
11,037 |
|
|
Total current liabilities |
31,815 |
39,476 |
|
|
Total liabilities |
58,833 |
51,042 |
|
x €1,000 |
2025 |
|
Net revenue |
50,713 |
|
Consumption of materials and supplies |
23,776 |
|
Operating costs |
22,574 |
|
Operating result |
4,363 |
|
Interest |
384 |
|
Taxes |
961 |
|
Net result |
3,018 |
Lias Industries B.V. has a call option to acquire 10% of the remaining shares in Proqraft Holding B.V. This option is included in the financial fixed assets. The minority shareholders have put options to sell their shares in Proqraft Holding B.V. to Hydratec, which have been presented as other financial instruments (see note 1.41.2).
The call and put options are measured at fair value as at 31 December 2025, determined using the Profitability Weighted Expected Return method. In this valuation, future projections make a significant assumption. This valuation method qualifies as a Level 3 fair value measurement (determination of the value based on non-listed data and assumptions).
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.