Cash and cash equivalents

12 Months Ended

Dec. 31, 2025

Cash and cash equivalents [abstract]

Cash and cash equivalents

12. Cash and cash equivalents

	2025		2024
	€		€
Cash and cash equivalents		291,678,888		280,728,037
		291,678,888		280,728,037

The Cash and cash equivalents consist of bank balances and money market funds and are not subject to any restriction. Of the cash on hand, €0.1 million relates to guarantees. Cash and cash equivalent balances as of December 31, 2025 include investments in money market funds of €232.5 million at fair market value. (Cost: €241.2 million) (December 31, 2024: Euro nil).