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Debt
12 Months Ended
Dec. 31, 2021
Debt  
Debt

Note 11. Debt

    

As of 

December 31, 

(in thousands of euros)

    

2019

    

2020

    

2021

Bank borrowings

 

74

9,992

 

9,984

Other loans and similar borrowings(1)

 

3

62

 

6

Lease liabilities

 

37

2

 

130

Total debt

 

114

10,055

 

10,119

(1)Consists of bank overdrafts and accrued interest payable on loans

Total debt remained stable in 2021.In 2021, the loans guaranteed by the French State taken out in May 2020 with initial maturity in May 2021 have been extended until the third quarter of 2022. The amendments provide for reimbursements to be made over four years, beginning in July 2022 for the loan from Crédit Agricole and in September 2022 for the loans from Bpifrance and Société Générale.

The €9.9 million increase in 2020 is primarily attributable to the three loans taken out from a syndicate of French banks, in the form of the loans guaranteed by the French State for a total amount of €10.0 million. These loans have been taken out in May 2020 and mature in May 2021. In accordance with the guarantees put in place by the State in the context of the COVID-19 health crisis, the Company had the option to extend the maturity date for up to an additional four years.

To a lesser extent, this line item also includes the loan taken out from Société Générale in 2015 for a residual amount of €13 thousand.

At December 31, 2019, after repayment of borrowings due in 2019 in a total amount of €0.1 million, the debt relating to bank loans amounted to €0.1 million; and lease liabilities amounting to €37 thousand at December 31, 2019.

The breakdown between long-term and short-term debt is as follows:

December 31, 2019

    

Less than

    

Between

    

Between

    

More than

(in thousands of euros)

1 year

1 and 3 years

3 and 5 years

5 years

Bank borrowings

 

74

 

 

 

Other loans and similar borrowings

 

3

 

 

 

Lease liabilities

35

2

Total longterm debt

 

112

 

2

 

 

December 31, 2020

    

Less than

    

Between

    

Between

    

More than

(in thousands of euros)

1 year

1 and 3 years

3 and 5 years

5 years

Bank borrowings

13

9,979

Other loans and similar borrowings

 

3

 

59

 

 

Lease liabilities

 

2

 

0

 

 

Total longterm debt

 

18

 

10,037

 

 

December 31, 2021

    

Less than

    

Between

    

Between

    

More than

(in thousands of euros)

1 year

1 and 3 years

3 and 5 years

5 years

Bank borrowings

 

1,244

 

7,484

 

1,256

 

Other loans and similar borrowings

 

 

6

 

 

Lease liabilities

 

38

 

92

 

 

Total longterm debt

 

1,282

 

7,582

 

1,256

 

The maturity of long-term debt and of short-term borrowings and debt is determined according to repayment estimates as at December 31, 2019, 2020 and 2021.

Change in the period is mainly due to the subscription of new borrowing, the breakdown as follow:

(in thousands of euros)

    

  

January 1, 2019

 

392

Repayment of bank borrowings

 

(146)

Repayment of lease liabilities

(130)

Accrued interests

 

(2)

December 31, 2019

 

114

Subscription of bank borrowings

9,979

Repayment of bank borrowings

 

(61)

Repayment of lease liabilities

 

(26)

Early termination of lease contracts

(9)

Capitalized interests

59

Accrued interests

 

(0)

December 31, 2020

10,055

Subscription new leases

143

Repayment of bank borrowings

(13)

Repayment of lease liabilities

(15)

Accrued interests

(51)

December 31, 2021

 

10,119