Annual and transition report of foreign private issuers [Sections 13 or 15(d)]

Provisions and other liabilities

v3.25.1
Provisions and other liabilities
 12 Months Ended
Dec. 31, 2024
Disclosure of other provisions [abstract]  
Provisions and other liabilities Provisions and other liabilities
(in €‘000) December 31, 2024 December 31, 2023
Defined benefit provision
Current 37  37 
Non-current 500  500 
Total 537  537 
Warranty provision
Current 249  218 
Non-current 77  72 
Total 326  290 
Share-based payment provision
Current —  16,677 
Non-current —  10,217 
Total —  26,894 
Subsidy provision
Current 1,425  1,649 
Non-current 4,899  924 
Total 6,324  2,573 
Other provisions
Current 62  62 
Non-current 83  80 
Total 145  142 
Total provisions and other liabilities
Current 1,773  18,643 
Non-current 5,559  11,793 
Total 7,332  30,436 
Defined benefit provision
Refer to Note 10.2 for details about the Group’s defined benefit plans in the Netherlands, Belgium and France.
Warranty provision
The Group generally offers its customers 24-month assurance type warranties for charging equipment sold to its customers. Management estimates the amount of the projected costs to repair or replace items under warranties if identified. These estimates are based on historical claims incurred to date and the estimate of costs of future claims. Therefore, the provision for warranty claims and its classification as current or non-current is based on historical information. As at December 31, 2024, this provision had a carrying amount of €326 thousand (December 31, 2023: €290 thousand).
Share-based payment provision
The total fair value of the share-based payment arrangement related to the Second Special Fees Agreement, as at December 31, 2024, is estimated at € nil (December 31, 2023: €26,894 thousand). The fair value of the share-based payment arrangement decreased to € nil as a result of securing the necessary financing through the convertible bond, which is out of scope for the Second Special Fees Agreement. Refer to Note 11.2 for details about the Group’s share-based
payment provision related to the Second Special Fees Agreement and the movements in the provision over all reporting periods presented.
Subsidy provision
The Group receives government grants for the purchase of chargers and for incurred expenses for the development of the charging infrastructure. Government grants are recognized where there is reasonable assurance that the grant will be received and that the Group will comply with all attached conditions. .
Other provisions
Other provisions refer to jubilee provision and restructuring provision. Refer to Note 10.2 for details about the Group’s jubilee plan in the Netherlands and the movements in the provision over all reporting periods presented.
The carrying amount of the restructuring provision of €62 thousand (December 31, 2023: €62 thousand) recorded in the consolidated statement of financial position for the year ended December 31, 2024 is expected to be fully utilized in 2025.
Maturities of provisions
Maturities of total provisions as at December 31, 2024 are as follows:
(in €‘000) Amounts due within one year Amounts due between one and five years Amounts due after five years Total
Defined benefit provision 37  116  384  537 
Warranty provision 249  77  —  326 
Share-based payment provision —  —  —  — 
Subsidy provision 1,425  1,192  3,707  6,324 
Other provision 62  —  83  145 
Total 1,773  1,385  4,174  7,332