(24) Income taxes and deferred taxes
In financial year 2024/2025, EUR 3,040 thousand in tax expenses (previous year: EUR 4,339 thousand) was reported under taxes on income.
The deferred tax assets and liabilities reported in the consolidated statement of financial position relate to the following items:
EUR ‘000 |
|
Net as at 30/06/2024 |
|
Recognised in profit or loss |
|
Net as at 30/06/2025 |
|
Deferred tax assets |
|
Deferred tax liabilities |
|---|---|---|---|---|---|---|---|---|---|---|
|
|
|
|
|
|
|
|
|
|
|
Intangible assets |
|
-8,580 |
|
-991 |
|
-9,571 |
|
0 |
|
-9,571 |
Property, plant and equipment |
|
-10,288 |
|
-1,393 |
|
-11,681 |
|
0 |
|
-11,681 |
Trade receivables and other assets |
|
-1,679 |
|
-538 |
|
-2,217 |
|
0 |
|
-2,217 |
Trade payables |
|
5,560 |
|
3,265 |
|
8,825 |
|
8,825 |
|
0 |
Tax loss carry-forwards |
|
14,987 |
|
-343 |
|
14,644 |
|
14,644 |
|
0 |
|
|
0 |
|
0 |
|
0 |
|
23,469 |
|
-23,469 |
EUR ‘000 |
|
Net as at 30/06/2023 |
|
Recognised in profit or loss |
|
Net as at 30/06/2024 |
|
Deferred tax assets |
|
Deferred tax liabilities |
|---|---|---|---|---|---|---|---|---|---|---|
|
|
|
|
|
|
|
|
|
|
|
Intangible assets |
|
-5,385 |
|
-3,195 |
|
-8,580 |
|
0 |
|
-8,580 |
Property, plant and equipment |
|
-9,252 |
|
-1,036 |
|
-10,288 |
|
0 |
|
-10,288 |
Trade receivables and other assets |
|
1,873 |
|
-3,552 |
|
-1,679 |
|
0 |
|
-1,679 |
Trade payables |
|
-708 |
|
6,268 |
|
5,560 |
|
5,560 |
|
0 |
Tax loss carry-forwards |
|
13,472 |
|
1,515 |
|
14,987 |
|
14,987 |
|
0 |
|
|
0 |
|
0 |
|
0 |
|
20,547 |
|
-20,547 |
The income tax expense was made up as follows:
EUR ‘000 |
|
2024/2025 |
|
2023/2024 |
|---|---|---|---|---|
|
|
|
|
|
Income taxes |
|
|
|
|
Current period |
|
-2,911 |
|
-4,350 |
Prior period |
|
-129 |
|
11 |
|
|
|
|
|
Deferred tax benefit/expense in connection with |
|
|
|
|
the creation or reversal of temporary differences |
|
343 |
|
-1,515 |
Tax loss carryforwards not yet utilised |
|
-343 |
|
1,515 |
|
|
-3,040 |
|
-4,339 |
At the end of the reporting period, the Group had corporation tax loss carry-forwards amounting to EUR 87,726 thousand (30 June 2024: EUR 101,236 thousand) and trade tax loss carry-forwards amounting to EUR 43,198 thousand (30 June 2024: EUR 64,062 thousand) for which no deferred tax assets have been recognised. The tax loss carry-forwards have an unlimited carry-forward period.
The expected income tax expense which would theoretically result from applying the weighted average tax rate of 32.81% (previous year: 32.81%) can be reconciled with the actual income tax benefit reported in the consolidated statement of comprehensive income as follows:
EUR ‘000 |
|
2024/2025 |
|
2023/2024 |
|---|---|---|---|---|
|
|
|
|
|
Consolidated net profit before income taxes |
|
9,537 |
|
48,646 |
Theoretical tax rate in % |
|
32.81 |
|
32.81 |
|
|
|
|
|
Expected tax expense from income taxes |
|
-3,129 |
|
-15,961 |
|
|
|
|
|
Effects from tax additions and subtractions |
|
-5,781 |
|
1,483 |
Change in ability to utilise tax loss carry-forwards |
|
8,910 |
|
14,478 |
Prior-year taxes |
|
-129 |
|
11 |
Other tax effects |
|
-2,911 |
|
-4,350 |
Tax payment as reported in the consolidated statement of comprehensive income |
|
-3,040 |
|
-4,339 |
Actual tax rate in % |
|
31.88 |
|
8.92 |