v3.26.1
BORROWINGS AND NON-CURRENT FINANCIAL LIABILITIES
 12 Months Ended
Dec. 31, 2025
Borrowings And Non-current Financial Liabilities  
BORROWINGS AND NON-CURRENT FINANCIAL LIABILITIES

 

10. BORROWINGS AND NON-CURRENT FINANCIAL LIABILITIES

 

As of December 31, 2025 and 2024 the breakdown of financial instruments by category is as follows:

 

Current borrowings at amortized cost

 

                       
    Amortized Cost              
12/31/2025   Debt Instruments     Carrying Amount     Fair Value  
Current financial liabilities     1,808       1,808       1,808  
Other borrowings     1,808       1,808       1,808  
Of which:
with related parties (Note 14)		     1,808       1,808       1,808  

 

    Amortized Cost              
12/31/2024   Debt Instruments     Carrying Amount     Fair Value  
Current financial liabilities     3,365       3,365       3,365  
Other borrowings     3,365       3,365       3,365  
Of which:
with related parties (Note 14)		     3,365       3,365       3,365  

 

Other borrowings correspond to short-term loans, mainly composed of debt with entities from the Codere Group and amounted to €1,808 and €3,365 thousand as of December 31, 2025 and 2024, respectively.

 

Non-current borrowings at amortized cost

 

There were no non-current borrowings accounted for at amortized cost as of December 31, 2025 and December 31, 2024.

 

Financial liabilities associated with financing activities

 

The following tables present details regarding the changes in financial liabilities as of December 31, 2025 and 2024 that arose from financial activities:

 

2025

 

                                                               
    Balance at
12/31/2024		     Cash addition     Related parties debt restructuring     Related party
non-cash settlement		     Related party
cash settlement		     Exchange rate
impact		     Changes in
fair value		     Balance at
12/31/2025		  
Other borrowings     3,365       -       -       -       (1,557 )     -       -       1,808  
Total     3,365       -       -       -       (1,557 )     -       -       1,808  

 

2024

 

    Balance at
12/31/2023		     Cash addition     Related parties debt restructuring     Related party
non-cash settlement		     Related party
cash settlement		     Exchange rate
impact		     Changes in
fair value		     Balance at
12/31/2024		  
Other borrowings     5,105       -       -       -       (1,740 )     -       -       3,365  
Total     5,105       -       -       -       (1,740 )     -       -       3,365  

 

Other borrowings correspond to short-term loans, mainly composed of debt with entities from the Codere Group, including transactions made by customers through retail sport betting terminals, and amounted to €1,808 thousand and €3,365 thousand as of December 31, 2025 and 2024, respectively.