Notes to the company financial statements

1. General information

The Company financial statements have been prepared in accordance with the Dutch GAAP and financial reporting requirements included in Part 9 of Book 2 of the Dutch Civil Code. The Company uses the option of Article 362.8 and Article 402 of Part 9 of Book 2 of the Dutch Civil Code to prepare the Company financial statements, using the same accounting policies as in the consolidated financial statements. Valuation is based on recognition and measurement requirements of accounting standards adopted by the EU (i.e. only IFRS that is adopted for use in the EU at the date of authorisation), except for investments in subsidiaries which are carried at net asset value. Refer to the notes of the consolidated financial statements for further information on accounting policies, critical estimates and judgements and financial risk management.

2. Income tax (expense)/benefit

Together with its Dutch group companies, the company constitutes a fiscal unity regarding corporate income tax. Corporate income tax is settled as if all entities included in the fiscal unity are a single taxpayer.

The applicable domestic tax rate for the Company is 25.8%.

3. Financial assets

In millions of Euro

2023

2022

Balance at 1 January

(0.7)

-

Acquired in business combinations

2.0

-

Shares issued

1,747.8

-

Result for the year

(55.2)

(0.7)

Foreign currency translation differences for foreign operations

(28.1)

-

Fair value gain/(loss) arising on hedging instruments

1.1

-

Remeasurement IAS 19

(0.2)

-

Balance at 31 December

1,666.7

(0.7)

Financial assets fully relate to investment in consolidated subsidiaries. Please refer to note 36 of the consolidated financial statements for TMF group entities. 

4. Equity

Share capital and share premium

Ordinary, ordinary voting and preference shares are classified as equity. On March 27 2023, 1,775,833,402 shares were issued and on 1 August 2023, additional 837,346 shares were issued. At 31 December 2023, the authorised share capital comprised 1,776,670,748 ordinary, ordinary voting and preference shares. The issued share capital amounts to €45.8 million.

Accumulated losses

The Management Board propose to add the loss for the year of €56.3 million to the accumulated losses.

5. Commitments

Operating lease commitments

The Company has no operating lease commitments at the balance sheet date. Refer to the note 32 Commitments in the consolidated financial statements.

6. Contingencies

The Company has no commitments at the balance sheet date.

7. Related party transactions

Reference is made to the consolidated financial statements.

8. Directors emoluments

Reference is made to the consolidated financial statements note 33.

9. Subsequent events

Reference is made to note 35 Subsequent events in the consolidated financial statements.