1.46 Off-balance sheet commitments

1.46.1 Capital investment commitments

At year-end 2025, the Group had commitments for €8.2 million to procure plant (2024: €0.3 million).

1.46.2 Bank guarantees

The Group has provided bank guarantees to a total value of €4.1 million (2024: €4.6 million). These bank guarantees were mainly provided to customers for the successful completion of mechanical engineering projects.

1.46.3 Group facility

A Euribor group facility has been arranged for Hydratec at ABN AMRO Bank with a cash pool facility and mutual joint and several liability comprising an overdraft facility as of 31 December 2025 with a maximum of €39.5 million, which will lowered by €1.5 million on 1 January every year, reaching €36.0 million.

The mark-up for this 1-month average EURIBOR facility is 1.50% a year plus the applicable market premium (was 0.30% at the balance sheet date). A commitment fee of 0.50% also applies.

The current account changes day by day.

Concerning the credit agreement, the following voluntary agreements have been made as at 31 December 2025:

• the debt/EBITDA ratio must be less than 2.5;

• EBITDA floor of €17.5 million

As at the balance sheet date, Hydratec had met all the agreements in its covenants.

The credit provider defines debt as all interest-bearing debts.

No use had been made of the available current account facility as at the balance sheet date (2024: the same).