Income taxes (Tables)

12 Months Ended

Dec. 31, 2021

Text Block [Abstract]

Summary of Income Tax Expense

	2021			2020			2019
	€			€			€
Current income tax expense		(131,921	)		(16,088	)		—
Deferred tax benefit		61,804			99,339			—
Income tax benefit / (expense)		(70,117	)		83,251			—

Summary of Reconciliation of Income Tax Benefit / (Expense) And The Accounting Loss

Reconciliation of income tax benefit / (expense) at statutory tax rate and the income tax benefit / (expenses) as reported in the consolidated statement of profit or loss and other comprehensive income is as follows:

	2021			2020			2019
	€			€			€
Loss before income tax		(42,660,662	)		(26,068,955	)		(8,027,162	)
Income tax benefit at statutory income tax rate of 25%		(10,665,166	)		(6,517,239	)		(2,006,791	)
Recognition of previously unrecognized deferred tax assets		—			(1,629,392	)		—
Impact of rate differences on opening deferred tax balance		—			—			1,421,141
Non-deductible expenses for tax purposes (inc. share based    payments)		353,543			74,579			4,050
Transactions costs		—			—			(209,045	)
Current year losses for which no deferred tax asset has been    recognised		2,910,890			3,132,076			789,520
Differences in overseas tax rates		7,482,832			4,855,980			—
Other		(11,982	)		745			1,125
Income tax expense (benefit)		70,117			(83,251	)		—

Summary of Tax Loss Carry-forwards Incurred In Current And Prior Years

Tax loss carry-forwards incurred in current and prior years will expire as follows:

	Switzerland		Netherlands		Tax losses
Year	€ million		€ million		€ million
2027		31.3		—		31.3
2028		57.5		—		57.5
Unlimited		—		6.9		6.9
Total carry-forward losses		88.8		6.9		95.7

Summary of Movements in Deferred Tax Balances

	R&D			Fixed			Non current provisions
	expenses			assets			and liabilities			Total
Deferred tax assets	€			€			€
At January 1, 2021		1,964,583			—			99,339			2,063,922
(Charged)/credited
- Profit or loss		(54,667	)		—			125,557			70,890
- Currency translation differences		—			—			13,612			13,612
At December 31, 2021		1,909,916						238,508			2,148,424
Deferred tax liability
At January 1, 2021		—			—			(1,964,583	)		(1,964,583	)
(Charged)/credited
- Profit or loss		—			(63,753	)		54,667			(9,086	)
- Currency translation differences		—			(2,703	)		—			(2,703	)
At December 31, 2021		—			(66,456	)		(1,909,916	)		(1,976,372	)
Net deferred tax assets at December 31, 2021											172,052