NET Info Plc

Annual Report • Apr 30, 2025

CONSOLIDATED STATEMENT OF FINANCIAL POSITION as at 31 December 2024

	2024	2023
	€	€
Assets
Property, plant and equipment	3.836.743	3.829.978
Intangible assets	3.763.300	3.682.866
Conventional assets	302.300	-
Total non-current assets	7.902.343	7.512.844
Conventional assets	588.363	371.411
Trade and other receivables	1.431.322	1.554.417
Cash and cash equivalents	209.792	98.080
Assets classified as held for sale	432.721	411.791
Total current assets	2.662.198	2.435.699
Total assets	10.564.541	9.948.543
Equity
Share capital	2.820.547	2.820.547
Share premium reserve	1.282.911	1.282.911
Reserves	1.109.587	359.210
Total equity	5.213.045	4.462.668
Liabilities
Loans and financing	1.542.693	1.820.630
Deferred tax liabilities	167.450	172.256
Deferred income	42.578	47.309
Total non-current liabilities	1.752.721	2.040.195
Bank overdrafts	1.194.497	1.207.976
Current portion of long-term loans	356.348	354.450
Trade and other liabilities	1.960.898	1.827.427
Deferred income	4.731	4.731
Tax liabilities	32.540	22.440
Liabilities classified as held for sale	49.761	28.656
Total current liabilities	3.598.775	3.445.680
Total liabilities	5.351.496	5.485.875
Total equity and liabilities	10.564.541	9.948.543

CONSOLIDATED STATEMENT OF PROFIT AND LOSS AND OTHER COMPREHENSIVE INCOME for the year ended 31 December 2024

	2024	2023
	€	€
Income	6.938.549	5.866.676
Cost of sales	(3.260.811)	(2.697.059)
Gross profit	3.677.738	3.169.617
Other operating income	31.932	80.458
Distribution and selling expenses	(85.329)	(97.915)
Administrative expenses	(2.386.401	(2.220.450)
Impairment in trade receivables and conventional assets	(48.540)	(35.803)
Operating profit	1.189.400	895.907
Financing income - total	5.473	511
Financing costs - total	(186.646)	(185.504)
Net financing costs	(181.173)	(184.993)
Profit before taxation	1.008.227	710.914
Taxation	(243.456)	(164.905)
Profit for the year	764.771	546.009
Other comprehensive income
Amounts not to be reclassified in profit and loss in subsequent periods:
Taxation in other comprehensive income	3.945	3.945
Amounts which will or may be reclassified in profit and loss in
subsequent periods:
Exchange difference created from the translation and
consolidation of the financial statements of companies abroad	3.439	(70.547)
Other comprehensive income/(expenses) for the year	7.384	(66.602)
Comprehensive income for the year	772.155	479.407
Basic profit per share (cents)	5.97	4.26
Fully diluted per share (cents)	5.97	4.26

CONSOLIDATED STATEMENT OF CASH FLOWS for the year ended 31 December 2024

	2024	2023
	€	€
Cash flow from operations
Profit for the year	764.771	546.009
Adjustments for:
Depreciation of property, plant and equipment	237.778	198.569
Depreciation of computer programmes	1.511	463
Depreciation of research and development	306.365	381.973
Profit from sale of property, plant and equipment	(5.963)	(6.247)
Reverse depreciation in the value of conventional assets	(3.863)	-
Charge for depreciation in the value of trade receivables	52.403	35.803
Interest receivable	(965)	(511)
Interest payable	140.667	127.813
Taxation	243.456	164.905
Depreciation of deferred income	(4.731)	-
Cash from operations before changes in working capital	1.731.429	1.448.777
Decrease in trade and other receivables	70.867	61.864
(Increase)/decrease in conventional assets	(515.389)	15.826
Increase/(decrease) in trade and other liabilities	136.910	(92.174)
Cash from operations	1.423.817	1.434.293
Tax paid	(255.995)	(210.581)
Net cash from operations	1.167.822	1.223.712
Cash flow from investing activities
Payments for acquisition of intangible assets	(388.310)	(571.252)
Payments for acquisition of property, plant and equipment	(244.918)	(81.723)
Proceeds from sale of property, plant and equipment	6.338	8.084
Interest received	965	511
Net cash for investing activities	(625.925)	(644.380)
Cash flow from financing activities
Repayment of loans	(375.899)	(367.332)
Proceeds from new loans	99.860	-
Interest paid	(140.667)	(127.813)
Net cash for financing activities	(416.706)	(495.145)
Net increase in cash and cash equivalents	125.191	84.187
Cash and cash equivalents at beginning of year	(1.109.896)	(1.194.083)
Cash and cash equivalents at end of year	(984.705)	(1.109.896)

CONSOLIDATED STATEMENT OF CHANGES IN NET POSITION for the year ended 31 December 2024

	Share capital €	Share premium reserve €	Revaluation reserve – Land and buildings €	Foreign currency conversion reserve €	Annuity reserve €	Total equity €
Balance as at 1 January 2023	2.820.547	1.282.911	1.516.790	88.934	(1.725.921)	3.983.261
Comprehensive income
Profit for the year	-	-	-	-	546.009	546.009
Other comprehensive income for the year	-	-	3.945	(70.547)	-	(66.602)
Comprehensive income for the year	-	-	3.945	(70.547)	546.009	479.407
Balance as at 31 December 2023	2.820.547	1.282.911	1.520.735	18.387	(1.179.912)	4.462.668

CONSOLIDATED STATEMENT OF CHANGES IN NET POSITION (continued) for the year ended 31 December 2024

	Share capital €	Share premium reserve €	Revaluation reserve – Land and buildings €	Foreign currency conversion reserve €	Annuity reserve €	Total equity €
Balance as at 1 January 2024	2.820.547	1.282.911	1.520.735	18.387	(1.179.912)	4.462.668
Comprehensive income
Profit for the year	-	-	-	-	764.771	764.771
Other comprehensive income
Other comprehensive income for the year	-	-	3.945	3.439	-	7.384
Comprehensive income for the year	-	-	3.945	3.439	764.771	772.155
Transactions with owners
Special contribution for defence in
deemed distribution of dividend and
General Health System (GESY)	-	-	-	-	(21.778)	(21.778)
Balance as at 31 December 2024	2.820.547	1.282.911	1.524.680	21.826	(436.919)	5.213.045