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

Leases

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Leases
 12 Months Ended
Dec. 31, 2023
Disclosure of quantitative information about right-of-use assets [abstract]  
Leases Leases
17.1. Group as a lessee
Amounts recognized in the consolidated statement of financial position
The consolidated statement of financial position shows the following amounts relating to leases:
(in €‘000) December 31,
2023		 December 31,
2022
Right-of-use assets
Office buildings 11,956  11,684 
Cars 1,075  646 
Software 10,542  14,613 
Land permits 52,799  20,366 
Other 440  508 
Total 76,812  47,817 
Additions to the right-of-use assets for office buildings during 2023 were €1,624 thousand (2022: €2,912 thousand), there were no additions as a result of business combinations (2022: €1,594 thousand). Additions to the right-of-use assets for cars during 2023 were €1,053 thousand (2022: €179 thousand). Additions to the right-of-use assets for software during 2023 were € nil (2022: € nil ). Additions to the right-of-use assets for land permits during 2023 were €35,255 thousand (2022: €21,166 thousand). This includes no additions from business combinations (2022: €11,055 thousand) and all
additions of €35,255 thousand during 2023 emerged from the ordinary course of business (2022: €10,110 thousand). Additions to the right-of-use assets for other during 2023 were € nil (2022: € nil ).
(in €‘000) December 31,
2023		 December 31,
2022
Lease liabilities
Current
Office buildings 1,382  1,066 
Cars 403  553 
Software 4,392  4,406 
Land permits 5,684  1,191 
Other 66  64 
Total 11,927  7,280 
Non-current
Office buildings 11,191  11,105 
Cars 694  108 
Software 7,280  12,181 
Land permits 52,002  20,188 
Other 396  462 
Total 71,563  44,044 
Lease liabilities are effectively secured as the rights to the leased assets recorded in the consolidated financial statements revert to the lessor in the event of default.
Amounts recognized in the consolidated statement of profit or loss
The consolidated statement of profit or loss shows the following amounts relating to leases:
(in €‘000) 2023 2022 2021
Depreciation expenses right-of-use assets
Office buildings 1,351  1,114  893 
Cars 573  581  653 
Software 4,071  4,062  1,633 
Land permits 2,474  885  141 
Other 68  68  88 
Total 8,537  6,710  3,408 
Interest expenses on lease liabilities (included in finance costs)
Office buildings 422  281  216 
Cars 42  17  25 
Software 448  565  266 
Land permits 2,751  898  2 
Other 15  16  18 
Total 3,678  1,777  527 
During 2023 the expenses relating to variable lease payment recognized were €58 thousand (2022: €323 thousand and 2021: € nil).
Total cash outflows for leases
The total cash outflows for leases were as follows:
(in €‘000) 2023 2022 2021
Office buildings 1,649  1,267  1,031 
Cars 612  602  675 
Software 4,624  4,404  1,774 
Land permits 1,410  657  94 
Other 78  78  168 
Total 8,373  7,008  3,742 
Decommissioning of charging sites
The Group, in its ordinary course of business, has entered into various land permit contracts with site owners throughout Europe. These contracts are classified as lease agreements under IFRS 16 Leases. As per the terms of these agreements, the Group has an obligation to restore the leased sites to their original condition upon the expiration or termination of the lease. In accordance with IFRS 16 and IAS 37, the Group assesses the obligation for decommissioning costs and, if material, recognizes a provision for the present value of the estimated costs of dismantling and removing the charging equipment and restoring the site. Concurrently, an equivalent 'right-of-use' asset is capitalized and depreciated over the lease term.
As of December 31, 2023, the Group has evaluated the potential decommissioning costs associated with the dismantling and removal of charging equipment installed at these leased sites. Based on the assessment, the estimated costs are deemed to be immaterial. Consequently, the Group has determined that the recognition of a decommissioning provision and the corresponding capitalization of these costs as part of the 'right-of-use' assets are not required. The immaterial costs are anticipated to be incurred in the future as expenses related to the recovery of charging equipment, and will be recognized in the income statement when incurred.
17.2. Group as a lessor
During the year ended December 31, 2021, the Group entered into a sublease rental agreement with a third party for one of its office buildings. In the consolidated statement of profit or loss for the year ended December 31, 2023, the Group recognized sublease rental income of €200 thousand (2022: €200 thousand, 2021: €200 thousand).
Future minimum rentals receivable under non-cancellable sublease rental agreements classified as operating leases as at each reporting date, are as follows:
(in €‘000) December 31, 2023 December 31, 2022
Within one year —  200 
After one year but not more than five years —  — 
More than five years —  — 
Total —  200