Annual and transition report of foreign private issuers pursuant to Section 13 or 15(d)

Breakdown of expenses by nature (Tables)

v3.23.1
Breakdown of expenses by nature (Tables)
 12 Months Ended
Dec. 31, 2022
Depreciation, Amortization and Impairments [Abstract]  
Summary of depreciation, amortization and impairments
(in €‘000) 2022 2021 2020
(restated)1
(restated)1
Included in cost of sales:
Depreciation of property, plant and equipment 16,542  5,417  4,024 
Impairments of property, plant and equipment 701  354  466 
Reversal of impairments of property, plant and equipment (679) (381) — 
Amortization of intangible assets 2,883  2,623  3,404 
Depreciation of right-of-use assets 886  141  141 
Included in selling and distribution expenses:
Depreciation of right-of-use assets 148  92  153 
Amortization of customer relationships 231  —  — 
Included in general and administrative expenses:
Depreciation of property, plant and equipment 185  206  285 
Depreciation of right-of-use assets 5,676  3,175  1,511 
Amortization of intangible assets 577  97  333 
Total 27,150  11,724  10,317 
1 Refer to Note 2.7.24 for details regarding the restatement of comparative figures as a result of changes in accounting policies
Summary of employee benefits
(in €‘000) 2022 2021 2020
Included in selling and distribution expenses:
Wages and salaries 1,195  1,527  1,961 
Social security costs 127  178  266 
Pension costs 139  144  239 
Termination benefits 194  11  360 
Other employee costs (5) 34  78 
Contingent workers —  4  3 
Subtotal 1,650  1,898  2,907 
Included in general and administrative expenses:
Wages and salaries 14,968  9,951  12,190 
Social security costs 1,980  1,262  1,666 
Pension costs 1,553  1,025  1,479 
Termination benefits 222  42  2,674 
Share-based payment expenses 41,230  89,636  2,450 
Other employee costs 283  219  410 
Contingent workers 4,853  3,358  3,012 
Capitalized hours —  (468) (332)
Subtotal 65,089  105,025  23,549 
Total 66,739  106,923  26,456 
Summary of financial position and the movements in the Jubilee provision
The next table provides a summary of the changes in the defined benefit obligations in France.
(in €‘000) 2022
Defined benefit pension provision - Opening — 
Current service cost 30 
Interest cost 6 
Total amount recognized in the consolidated statement of profit or loss 36 
Remeasurement:
   (Gain)/loss from change in financial assumptions (19)
   Experience (gain)/loss 46 
Total amount recognized in the consolidated statement of other comprehensive income 27 
Acquisition 386 
Benefit payments from plans — 
Defined benefit provision - Closing 449 
The amounts recorded in the consolidated statement of financial position and the movements in the jubilee provision over all reporting periods presented, are as follows:
(in €‘000) 2022 2021
Jubilee provision – Opening 73  78 
Current service cost 11  11 
Past service cost —  (19)
Interest cost —  — 
Remeasurements (58) 3 
Total amount recognized in the consolidated statement of profit or loss (47) (5)
Employer contributions —  — 
Benefit payments —  — 
Jubilee provision – Closing 26  73 
Summary of sensitivity analysis
The principal actuarial assumptions at the reporting dates are:

(in %) 2022
Discount rate
2.5% - 3.7%
Wage inflation 2.5  %
Turnover
5.6% - 16.8%
The calculation of the defined benefit obligation is sensitive to, amongst others, the discount rate, rate of inflation and changes in life expectancy. In 2022, the sensitivity analysis was as follows:
In % / in €'000 -0.5% +0.5%
Discount rate 5.1  % (4.7) %
Salary increases (4.7) % 5.1  %
Turnover rates 1.0  % (1.0) %
The above sensitivity analyses are based on a change in an assumption while holding all other assumptions constant. In practice, this is unlikely to occur, and changes in some of the assumptions may be correlated. When calculating the sensitivity of the defined benefit obligation to significant actuarial assumptions the same method (present value of the defined benefit obligation calculated with the projected unit credit method at the end of the reporting period) has been applied as when calculating the defined benefit liability recognized in the balance sheet.