Investments accounted for using the equity method (Tables)

12 Months Ended

Dec. 31, 2025

Schedule of Ownership Percentages and Carrying Value of Investments Accounted for Using the Equity Method

The Group’s ownership percentages and the carrying value of investments accounted for using the equity method were as follows:


(€ thousands, except percentages)	Filati Biagioli Modesto S.p.A.		Norda Run Inc.		Luigi Fedeli e Figlio S.r.l.		Total investments accounted for using the equity method
Group's percentage interest at December 31, 2025	48.5	%	32.5	%	15	%
Group's percentage interest at December 31, 2024	45	%	25	%	15	%

At January 1, 2024	7,490		6,621		4,654		18,765
Net income/(loss)	900		174		(13)		1,061
Translation differences	—		(136)		—		(136)
At December 31, 2024	8,390		6,659		4,641		19,690
Additions	354		4,040		—		4,394
Net income	261		231		32		524
Translation differences	—		(427)		—		(427)
At December 31, 2025	9,005		10,503		4,673		24,181

Schedule of Financial Information of Associates And Joint Ventures

Certain financial information of companies accounted for using the equity method is provided below at and for the period from the acquisition date to December 31, 2025 or for the year ended December 31, 2025, as required by IFRS 12—Disclosure of Interest in Other Entities (“IFRS 12”).


(€ thousands)	Norda Run Inc.	Filati Biagioli Modesto S.p.A.	Luigi Fedeli e Figlio S.r.l.
Total assets	7,826	68,447	34,081
Total liabilities	866	49,880	24,457
Total equity	6,961	18,567	9,624
Net revenues	15,201	41,031	27,030
Net income/(loss)	899	(174)	396