- Definition

The amount of financial liabilities that meet either of the following conditions: (a) they meet the definition of held for trading; or (b) upon initial recognition they are designated by the entity as at fair value through profit or loss. An entity may use this designation only when permitted by paragraph 4.3.5 of IFRS 9 (embedded derivatives) or when doing so results in more relevant information, because either: (a) it eliminates or significantly reduces a measurement or recognition inconsistency (sometimes referred to as ‘an accounting mismatch’) that would otherwise arise from measuring assets or liabilities or recognising the gains and losses on them on different bases; or (b) a group of financial liabilities or financial assets and financial liabilities is managed and its performance is evaluated on a fair value basis, in accordance with a documented risk management or investment strategy, and information about the group is provided internally on that basis to the entity’s key management personnel (as defined in IAS 24). [Refer: At fair value [member]; Key management personnel of entity or parent [member]; Derivatives [member]; Financial assets; Financial liabilities]

+ References + Details

Financial Assets and Liabilities - Summary of Fair Value Hierarchy (Detail) - EUR (€) € in Thousands	Sep. 30, 2025	Dec. 31, 2024	Sep. 30, 2024	Dec. 31, 2023
Disclosure of detailed information about financial instruments [line items]
Royalty funding liabilities	€ 287,800
Derivative liabilities	233,761	€ 150,670
Level 3 [member]
Disclosure of detailed information about financial instruments [line items]
Derivative liabilities	233,761	150,670	€ 168,346	€ 143,296
Carrying amount [member]
Disclosure of detailed information about financial instruments [line items]
Financial liabilities measured at amortized cost	714,001	763,586
Financial liabilities measured at fair value through profit or loss	233,761	150,670
Carrying amount [member] \| Level 3 [member]
Disclosure of detailed information about financial instruments [line items]
Convertible senior notes	426,241	458,207
Royalty funding liabilities	287,760	305,379
Derivative liabilities	233,761	150,670
Fair value [member]
Disclosure of detailed information about financial instruments [line items]
Financial liabilities measured at amortized cost	710,680	743,961
Financial liabilities measured at fair value through profit or loss	233,761	150,670
Fair value [member] \| Level 3 [member]
Disclosure of detailed information about financial instruments [line items]
Convertible senior notes	415,635	438,288
Royalty funding liabilities	295,045	305,673
Derivative liabilities	€ 233,761	€ 150,670