XML 24 R16.htm IDEA: XBRL DOCUMENT v3.23.3
Notes to the consolidated balance sheet (Tables)
6 Months Ended
Jun. 30, 2023
Notes to the consolidated balance sheet  
Schedule of intangible assets

​

​

​

​

​

​

In thousands of euros

    

June 30, 2023

    

Dec. 31, 2022

Intangible assets, gross

​

3,924

 

3,732

Amortization and impairment

​

(3,267)

 

(3,164)

Intangible assets, net

​

657

 

568

Schedule of property, plant and equipment

​

​

​

​

​

​

​

    

June 30,

    

Dec. 31,

In thousands of euros

​

2023

​

2022

Property, plant and equipment, gross

 

16,993

 

15,941

Depreciation and impairment

 

(9,482)

 

(8,555)

Property, plant and equipment, net

 

7,511

 

7,385

Schedule of other non current assets

​

​

​

​

​

​

​

​

June 30, 

​

Dec. 31,

In thousands of euros

    

2023

    

2022

Long-term deposit accounts

​

9,300

 

700

Advance payments – non-current

​

895

 

895

Accrued income

​

79

 

65

Security deposits

​

8

 

8

Other non‑current assets

​

10,282

 

1,668

Schedule of inventories

​

​

​

​

​

​

​

​

June 30,

​

Dec. 31,

In thousands of euros

    

2023

    

2022

Laboratory inventories

​

434

 

406

Inventories write‑down

​

(33)

 

(33)

Inventories

​

401

 

373

Schedule of trade receivables

​

​

​

​

​

​

​

​

​

​

​

​

​

June 30,

​

Dec. 31,

In thousands of euros

    

2023

 

2022

3 months or less

 

2,224

​

—

Between 3 and 6 months

 

—

​

—

Between 6 and 12 months

 

—

​

—

More than 12 months

 

—

​

—

Trade receivables

 

2,224

​

—

Schedule of other current assets and receivables

​

​

​

​

​

​

​

​

June 30,

​

Dec. 31,

In thousands of euros

    

2023

    

2022

CIR and other research tax credits

 

4,385

 

5,994

Other

 

19

 

13

Tax receivables

 

4,405

 

6,007

Prepaid expenses

 

8,576

 

8,601

Short-term deposit accounts

​

50

​

1,048

Current accrued income

​

758

​

117

Liquidity agreement - Cash

​

293

​

282

Sales tax receivable

​

3,000

​

3,057

Other receivables

 

1,424

 

162

Other current assets

 

14,101

 

13,267

Other current assets and receivables

 

18,505

 

19,274

Schedule of cash and cash equivalents

​

​

​

​

​

​

Net cash and cash equivalents

​

June 30,

​

Dec. 31,

In thousands of euros

    

2023

    

2022

Other cash equivalents(1)

 

19,561

 

16,798

Cash at bank and at hand

 

11,679

 

69,939

Cash and cash equivalents

 

31,240

 

86,736

(1)Other cash equivalents correspond mainly to short-term bank deposits.
Schedule of changes in share capital

​

​

​

​

​

​

​

​

​

​

​

​

​

    

​

​

​

​

Premiums 

​

​

​

​

​

​

​

​

Share 

​

related to 

​

Number of 

​

Nominal 

Date

    

Nature of the transactions

    

capital

    

share capital

    

shares

    

value

Balance at December 31, 2022

​

​

 

421,341

 

173,885,665

 

42,134,169

 

0.01

Balance at June 30, 2023

​

​

​

421,341

​

173,885,665

​

42,134,169

​

0.01

Schedule of debt

​

​

​

​

​

​

In thousands of euros

    

June 30, 2023

    

Dec. 31, 2022

Bank borrowings

 

28,245

 

29,689

Derivatives instruments

​

8,253

​

9,876

Other loans and similar borrowings(1)

 

1,958

 

316

Lease liabilities

 

4,932

 

4,510

Total debt

 

43,388

 

44,390

(1)include accrued interests.
Schedule of movements in the period break down

​

​

​

​

In thousands of euros

    

    

January 1, 2023

 

44,390

Subscription of lease liabilities

 

1,153

Repayment of bank borrowings

 

(1,448)

Repayment of lease liabilities

 

(707)

Capitalized interest

 

1,646

Change in fair value of derivatives instruments

 

(1,623)

Exchange rate change

 

(24)

June 30, 2023

 

43,388

Schedule of valuation approach for BSA arrangement

​

​

​

​

​

​

    

BSA 2022

 

Grant date

 

11/28/2022

​

Expiration date

 

11/28/2030

​

Number of BSA issued

 

2,266,023

​

Number of shares per BSA

 

1

​

Subscription premium price per share (€)

 

0.01

​

Exercise price per share (€)

 

4.02

​

Valuation method

 

Longstaff Schwartz

​

​

​

​

​

​

​

​

​

​

​

    

As of November 28, 2022

    

​

​

​

 

​

​

 (Grant Date)

​

As of December 31, 2022

​

As of June 30, 2023

 

Number of BSA outstanding

 

2,266,023

 

2,266,023

​

2,266,023

​

Stock price (€)

 

4.13

 

4.48

​

3.69

​

Maturity (years)

 

12

 

11.9

​

11.4

​

Volatility

 

68

%  

68

%

68

%

Cap of the put option (m€)

 

25.0

 

25.0

​

25.0

​

Risk free rate

 

Euribor 6M

 

Euribor 6M

​

Euribor 6M

​

Expected dividends

 

—

 

—

​

—

​

Fair Value (k€)

 

9,469

 

9,876

​

8,254

​

Unit fair value (€)

 

4.18

 

4.36

​

3.64

​

Schedule of provision recorded in respect of defined benefit schemes at the end of each reporting period

​

​

​

​

​

​

In thousands of euros

    

June 30, 2023

    

Dec. 31, 2022

Retirement benefit obligations

​

1,360

​

1,234

Total obligation

 

1,360

 

1,234

Schedule of change in the provision recorded in respect of defined benefit schemes

​

​

​

​

​

​

In thousands of euros

    

June 30, 2023

    

Dec. 31, 2022

Provision at beginning of period

 

(1,234)

​

(1,429)

Expense for the period

 

(113)

​

(230)

Actuarial gains or losses recognized in other comprehensive income

 

(14)

​

425

Provision at end of period

 

(1,360)

​

(1,234)

Schedule of expense recognized in the statement of income (loss)

​

​

​

​

​

​

In thousands of euros

    

June 30, 2023

    

Dec. 31, 2022

Service cost for the period

 

(90)

 

(237)

Interest cost for the period

 

(23)

 

(14)

Benefits for the period

 

—

 

21

Total

 

(113)

 

(230)

Schedule of maturity of long-term and short-term debt

​

​

​

​

​

​

​

​

​

​

June 30, 2023

    

Less than

    

Between

    

Between

    

More than

In thousands of euros

    

1 year

    

1 and 3 years

    

3 and 5 years

    

5 years

Bank borrowings

 

2,496

 

5,898

 

18,070

 

1,780

Derivatives

 

—

 

—

 

8,253

 

—

Other loans

​

56

​

—

​

1,902

​

—

Lease liabilities

​

1,568

​

3,363

​

—

​

—

Total debt

 

4,121

 

9,261

 

28,226

 

1,780

​

The maturity of long-term debt and of short-term borrowings and debt is determined according to repayment estimates as at June 30, 2023.

​

​

​

​

​

​

​

​

​

​

Dec. 31, 2022

    

Less than

    

Between

    

Between

    

More than

In thousands of euros

​

1 year

​

1 and 3 years

​

3 and 5 years

​

5 years

Bank borrowings

 

4,474

 

4,999

 

17,768

 

2,448

Derivatives

​

—

​

—

​

9,876

​

—

Other loans and similar borrowings

 

100

 

—

 

216

 

—

Lease liabilities

 

1,277

 

3,233

 

—

 

—

Total debt

 

5,851

 

8,232

 

27,860

 

2,448

Schedule of trade payables and other current liabilities

​

​

​

​

​

​

In thousands of euros

    

June 30, 2023

    

Dec. 31, 2022

Trade payables

​

28,691

 

19,359

Other current liabilities

​

4,981

 

5,485

Trade payables and other current liabilities

​

33,672

 

24,844

Schedule of trade payables break down by payment

​

​

​

​

​

​

In thousands of euros

    

June 30, 2023

    

Dec. 31, 2022

Due in 30 days

​

21,227

 

19,156

Due in 30-60 days

​

7,403

 

201

Due in more than 60 days

​

60

 

2

Trade payables

​

28,691

 

19,359

Schedule of other current liabilities

​

​

​

​

​

​

In thousands of euros

    

June 30, 2023

    

Dec. 31, 2022

Employee‑related payables

 

1,571

 

1,866

Accrued payroll and other employee-related taxes

 

1,281

 

1,340

Sales tax payables

 

1,893

 

2,128

Other accrued taxes and employee-related expenses

 

224

 

140

Other miscellaneous payables

 

12

 

12

Other current liabilities

 

4,981

 

5,485

Schedule of financial assets and liabilities

​

​

​

​

​

​

​

​

​

​

​

​

​

    

June 30, 2023

​

​

​

​

​

​

Financial

​

​

​

​

​

​

Book value

​

​

​

assets/liabilities

​

​

​

​

​

​

on the

​

Financial

​

carried at

​

Liabilities

​

​

​

​

statement

​

assets carried

​

fair value

​

carried at

​

​

​

​

of financial

​

at amortized

​

through

​

amortized

​

​

In thousands of euros

    

position

    

cost

    

profit or loss

    

cost

    

Fair value

Financial assets

​

  

 

  

 

  

 

  

 

  

Long-term accrued income

​

79

 

79

 

—

 

—

 

79

Long-term deposit accounts

​

9,300

​

9,300

​

—

​

—

​

9,300

Long-term security deposits

​

8

 

8

 

—

 

—

 

8

Advance payment

​

895

​

895

​

—

​

—

​

895

Current accrued income

​

758

 

758

 

—

 

—

 

758

Short-term deposit accounts

​

50

 

50

 

—

 

—

 

50

Trade receivables

​

2,224

​

2,224

​

—

​

—

​

2,224

Other receivables

​

1,717

 

1,717

 

—

 

—

 

1,717

Cash and cash equivalents

​

31,240

 

31,240

 

—

 

—

 

31,240

Total

​

46,271

 

46,271

 

—

 

—

 

46,271

​

​

​

 

​

 

​

 

​

 

​

Financial liabilities

​

​

 

​

 

​

 

​

 

​

Long-term debt (1)

​

31,014

 

—

 

—

 

31,014

 

30,417

Derivative instruments

​

8,253

 

—

 

8,253

 

—

 

8,253

Short-term debt

​

4,121

 

—

 

—

 

4,121

 

4,121

Trade payables

​

28,691

​

—

​

—

​

28,691

​

28,691

Long-term contract liabilities

​

61

​

—

​

—

​

61

​

61

Short-term contract liabilities

​

6

​

—

​

—

​

6

​

6

Other miscellaneous payables

​

12

​

—

​

—

​

12

​

12

Total

​

72,156

​

—

​

8,253

​

63,903

​

71,559

(1)

See Note 4.9 Financial debt detailing amortized cost and fair value of the Credit facility with the EIB

​

​

​

​

​

​

​

​

​

​

​

​

​

    

December 31, 2022

​

    

​

    

​

    

Financial

    

​

    

​

​

​

Book Value

​

​

​

assets/liabilities

​

​

​

​

​

​

on the

​

Financial

​

carried at

​

Liabilities

​

​

​

​

statement

​

assets carried

​

fair value

​

carried at

​

​

​

​

of financial

​

at amortized

​

through

​

amortized

​

​

(In thousands of euros)

    

position

    

cost

    

profit or loss

    

cost

    

Fair value

Financial assets

​

​

​

​

​

​

​

​

​

​

Long-term accrued income

​

65

 

65

 

—

 

—

 

65

Long-term deposit accounts

​

700

 

700

 

—

 

—

 

700

Long-term security deposits

​

8

​

8

​

—

​

—

​

8

Advance payment

​

895

 

895

 

—

 

—

 

895

Current accrued income

​

117

 

117

 

—

 

—

 

117

Short-term deposit accounts

​

1,048

​

1,048

​

—

​

—

​

1,048

Trade receivables

​

0

 

0

 

—

 

—

 

0

Other receivables

​

444

 

444

 

—

 

—

 

444

Cash and cash equivalents

​

86,736

 

86,736

 

—

 

—

 

86,736

Total

​

90,014

 

90,014

 

—

 

—

 

90,014

​

​

​

 

​

 

​

 

​

 

​

Financial liabilities

​

​

 

​

 

​

 

​

 

​

Long-term debt

​

28,663

 

—

 

—

 

28,663

 

28,663

Derivative instruments

​

9,876

 

—

 

9,876

 

—

 

9,876

Short-term debt

​

5,851

​

—

​

—

​

5,851

​

5,851

Trade payables

​

19,359

​

—

​

—

​

19,359

​

19,359

Long-term contract liabilities

​

55

​

—

​

—

​

55

​

55

Short-term contract liabilities

​

6

​

—

​

—

​

6

​

6

Other miscellaneous payables

​

12

​

—

​

—

​

12

​

12

Total

​

63,821

​

—

​

9,876

​

53,945

​

63,821

BSPCE share warrants and BSA share warrants  
Notes to the consolidated balance sheet  
Schedule of movements in BSPCE and BSA share warrants and Bonus shares

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

    

​

    

Exercise

    

Outstanding

    

​

    

​

    

​

    

Outstanding

    

Number of

​

​

​

​

price

​

at Jan 1,

​

​

​

​

​

Forfeited/

​

at June 30,

​

exercisable

Type

    

Grant Date

    

(in euros)

    

2023

    

Issued

    

Exercised

    

Lapsed

    

2023

    

shares

BSPCE 2013 plan

 

12/13/13

 

0.59

 

8,800

 

—

 

—

 

—

 

8,800

 

8,800

BSPCE 2021 plan

​

04/16/21

​

11.74

​

480,000

​

—

​

—

​

—

​

480,000

​

—

Total BSPCE share warrants

 

  

 

  

 

488,800

 

—

 

—

 

—

 

488,800

 

8,800

BSA — 2017 plan

 

05/29/17

 

6.68

 

130,000

 

—

 

—

 

—

 

130,000

 

130,000

BSA — 2018 plan

 

12/14/18

 

6.07

 

116,000

 

—

 

—

 

—

 

116,000

 

116,000

BSA — 2019 plan

 

06/28/19

 

2.20

 

10,000

 

—

 

—

 

—

 

10,000

 

10,000

BSA — 2019 bis plan

​

03/09/20

​

3.68

​

10,000

​

—

​

—

​

—

​

10,000

​

10,000

BSA — 2019 ter plan

​

03/09/20

​

3.68

​

36,000

​

—

​

—

​

—

​

36,000

​

36,000

BSA — 2021 plan

​

04/16/21

​

11.74

​

16,000

​

—

​

—

​

—

​

16,000

​

—

BSA 2023 plan

​

25/05/23

​

2.51

​

—

​

10,000

​

—

​

—

​

10,000

​

—

Total BSA share warrants

 

  

 

  

 

318,000

 

10,000

 

—

 

—

 

328,000

 

302,000

Total share warrants

​

​

​

​

 

806,800

 

10,000

 

—

 

—

 

816,800

 

310,800

AGA Plan 2023-1  
Notes to the consolidated balance sheet  
Schedule of movements in BSPCE and BSA share warrants and Bonus shares

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Reference

​

Outstanding

​

​

​

​

​

​

​

Outstanding

​

Number of

​

​

​

​

price (in

​

at Jan 1,

​

​

​

​

​

Forfeited /

​

at June 30,

​

exercisable

Type

    

Grant date

    

euros)

    

2023

    

Issued

    

Exercised

    

Lapsed

    

2023

    

shares

AGA Plan 2021-1

 

04/16/21

 

11.30

 

340,800

 

—

 

—

 

—

 

340,800

 

—

AGA Plan 2021-bis

 

12/08/21

 

12.20

 

76,800

 

—

 

—

 

(4,000)

 

72,800

 

—

AGA 2022

 

12/08/22

 

4.18

 

373,000

 

—

 

—

 

(7,500)

 

365,500

 

—

AGA 2023-1

​

25/05/23

​

2.60

​

—

​

300,000

​

—

​

—

​

300,000

​

—

Total free shares

​

​

​

​

 

790,600

 

300,000

 

—

 

(11,500)

 

1,079,100

 

—

PAGUP 2023  
Notes to the consolidated balance sheet  
Schedule of movements in BSPCE and BSA share warrants and Bonus shares

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

    

​

    

Reference

    

Outstanding

    

​

    

​

    

​

    

Outstanding

    

Number of

​

​

Grant

​

price (in

​

at Jan 1,

​

​

​

​

​

Forfeited

​

at June 30,

​

exercisable

Type

​

date

​

euros)

​

2023

​

Issued

​

Exercised

​

/ Lapsed

​

2023

​

shares

PAGUP 2023

​

25/05/23

​

2.60

​

—

​

300,000

​

—

​

—

​

300,000

​

—

Total PAGUP

​

​

​

​

​

—

​

300,000

​

—

​

—

​

300,000

​

—