0001171843-22-002652 | 20-F | XBRL Viewer

Loss for the period

(9,971)

Contributions to equity

^[1]

5,187

5,189

Balance at Dec. 31, 2019

8,489

(27,091)

(18,568)

Capital contribution of the GmbH shares into the N.V.

Loss for the period

(56,032)

Contributions to equity

^[2]

104

35,904

36,008

(34)

Share split

1,835

(1,835)

Conversion high voting shares

4,500

(4,500)

Settlement agreement

1,398

1,427

Share-based compensation

32,160

Fair Value Measurement Convertible Bond (OCI)

(21)

Balance at Dec. 31, 2020

6,468

39,490

32,139

(83,123)

(5,026)

Fair Value Measurement Convertible Bond (OCI)

Loss for the period

(63,953)

Contributions to equity

€ 4

€ 1,479

€ 0

€ 1,483

€ 690

€ 138,837

€ 0

€ 139,527

^[2]

Settlement agreement

(250)

Share-based compensation

1,981

Issue of bonus shares

1,529

(1,529)

Conversion of Convertible Bond (see note 7.8)

9,617

(5)

9,661

Balance at Dec. 31, 2021

€ 8,735

€ 187,894

€ 33,891

€ (147,080)

€ 83,439

[1]	transaction costs of kEUR 109 were deducted from capital reserve
[2]	transaction costs of kEUR 2,192 were deducted from capital reserve
[3]	transaction costs of kEUR 17 were deducted from capital reserve
[4]	transaction costs of kEUR 2,038 less deferred taxes of kEUR 9 were deducted from capital reserve

Consolidated Cash Flow Statements - EUR (€) € in Thousands	12 Months Ended
Consolidated Cash Flow Statements - EUR (€) € in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Operating activities
Loss for the period	€ (63,953)	€ (56,032)	€ (9,971)
Adjustments for:
Depreciation of property, plant and equipment	125	61	50
Impairment of property, plant and equipment	1,965	0	0
Depreciation of right-of-use assets	415	313	163
Amortization of intangible assets	34	11	11
Expenses(+) for share-based payment transactions	1,981	32,160	0
Other non-cash expenses(+)	112	346	0
Interest and similar income	0	(2)	0
Interest and similar expense	4,781	2,040	702
Movements in provisions	2,091	(526)	418
Decrease(+)/increase(-) in other assets	(3,760)	(5,766)	456
Increase(+)/decrease(-) in trade and other payables	5,218	322	(1,284)
Increase(+)/decrease(-) in advance payments received from customers	4,286	26,448	800
Interest paid	(436)	(561)	(120)
Net cash used in operating activities	(47,141)	(1,186)	(8,775)
Investing activities
Purchase of intangible assets	(223)	0	0
Purchase of property, plant and equipment	(1,429)	(42)	(1,139)
Net cash used in investing activities	(1,652)	(42)	(1,139)
Financing activities
Transaction cost on issue of shares	(2,825)	(2,192)
Proceeds from borrowings	0	10,657	3,710
Repayments of borrowings	(2,187)	(2,327)	0
Payment of principal portion of lease liabilities	(378)	(282)	(92)
Net cash from financing activities	138,562	44,085	8,806
Net increase (decrease) in cash and cash equivalents	89,769	42,857	(1,108)
Effect of currency translation on cash and cash equivalents	(94)	0	0
Cash and cash equivalents at the beginning of the financial year	43,264	407	1,515
Cash and cash equivalents at end of year	132,939	43,264	407
IPO [member]
Financing activities
Transaction cost on issue of shares	(2,690)	0	0
Proceeds from issue of shares	142,334	0	0
Institutional investors [member]
Financing activities
Transaction cost on issue of shares	(17)	(2,192)	(109)
Proceeds from issue of shares	€ 1,500	€ 38,229	€ 5,297

Note 1 - General Information

12 Months Ended

Dec. 31, 2021

Disclosure of general information about financial statements [text block]

1.	General information

Sono Group N.V. (“Sono N.V.”) is registered in the business register (Netherlands Chamber of Commerce) and its corporate seat is in Amsterdam. The Company has its business exclusively in Germany as the management is located there and the business address is Waldmeisterstraße 76, 80935 Munich, Germany (trade register number: 80683568). Sono N.V.’s sole and wholly-owned subsidiary, Sono Motors GmbH (“Sono Motors”), is registered in the commercial register (Handelsregister) at the local court (Amtsgericht) of Munich, Germany, under HRB 224131. Sono Motors’ registered headquarters is Waldmeisterstraße 76, 80935 Munich, Germany. Sono N.V. is the ultimate parent of the Group. Hereinafter, Sono N.V. and its consolidated subsidiary collectively are referred to as the “Sono Group” or the “Group”. Sono Group develops and plans to sell mainly electric vehicles with integrated solar panels and to license its solar technology to other Original Equipment Manufacturers (OEMs) . The Group started business in January 2016 and expects to complete prototype testing in 2022 and start serial production in the second half of 2023.

In November 2021, Sono N.V. successfully completed an IPO and is now listed on the Nasdaq Stock Market. The Company offered 10,000,000 ordinary shares with a par value of EUR 0.06 at a price of USD 15.00 each. In addition, the underwriters, Berenberg Capital Markets LLC and Craig-Hallum Capital Group LLC, were granted the opportunity to purchase 1,500,000 additional ordinary shares from Sono Group within 30 days of the IPO, provided that more than 10,000,000 ordinary shares were sold in the IPO (greenshoe option). The underwriting agreement was signed on November 16, 2021. Trading under the ticker symbol “SEV” commenced on November 17, 2021. All offered shares were sold and the underwriters exercised their greenshoe option in full. After underwriting discounts and commissions, Sono Group raised an amount of kUSD 160,425 through the IPO. The amount was received by the Group on November 19, 2021.

For further details regarding equity transactions in 2021, please refer to Note 7.8 Equity.

Note 2 - Basis of Preparation

12 Months Ended

Dec. 31, 2021

Disclosure of basis of preparation of financial statements [text block]

2.	Basis of preparation

The consolidated financial statements of Sono Group have been prepared in accordance with International Financial Reporting Standards (IFRS) as issued by the International Accounting Standards Board (IASB), and are presented in euro, which is also the Group’s functional currency. Unless otherwise stated, all amounts are presented in thousands of euros (“kEUR”).

The consolidated financial statements as of December 31, 2021, have been authorized by the management board for presentation to the shareholders on April 19, 2022.

In 2020, Sono Group completed a legal reorganization. The reorganization was applied fully retroactively, so that the accounts reflect the respective carrying values. The earnings per share calculation has been adjusted as well for 2019. In 2021, Sono Group successfully completed an IPO. To prepare for the IPO, Sono Group issued bonus shares to existing shareholders. The earnings per share calculation has been adjusted to reflect the issue of bonus shares. The consolidated statement of changes in equity has not been adjusted for these two events but represents the legal status as of every balance sheet date.

These consolidated financial statements are prepared on a historical cost basis under the going concern assumption which contemplates the realization of assets and the settlement of liabilities and commitments in the normal course of business. The consolidated financial statements do not reflect any adjustments relating to the recoverability and classification of assets or the amounts and classification of liabilities that might be necessary if the Group is unable to continue as a going concern. In accordance with IAS 1.25, management identified material uncertainties related to events or conditions regarding Sono Group’s financing that raise substantial doubt upon its ability to continue as a going concern. For further details, we refer to note 4.13.1 Going concern.

The significant accounting policies adopted in the preparation of these consolidated financial statements are described below. These accounting policies have been consistently applied to all years presented.

The preparation of consolidated financial statements requires the use of certain accounting estimates. The areas that require a higher degree of judgment or complexity, or areas where assumptions and estimates are significant to the consolidated financial statements, are disclosed below.

All figures shown are rounded, so minor discrepancies may arise from addition of these amounts.

The statements of income or loss were prepared using the cost of sales method.

Standards issued but not yet effective

Certain new accounting standards and interpretations have been published that are not mandatory for the consolidated financial statements as of December 31, 2021, and have not been early adopted by Sono Group. These standards are not expected to have a material impact on Sono Group’s consolidated financial statements in the current or future reporting periods and on foreseeable future transactions.

	Mandatory for fiscal years beginning on or after
Improvements to IFRSs 2018–2020	January 1, 2022
IFRS 3 (Amendment) Reference to the Conceptual Framework	January 1, 2022
IAS 16 (Amendment) Proceeds before Intended Use	January 1, 2022
IAS 37 (Amendment) Onerous Contracts – Cost of Fulfilling a Contract	January 1, 2022
IFRS 17 Insurance Contracts (including Amendments)	January 1, 2023
IAS 1 (Amendment I) Classification of Liabilities as Current or Non-current and Deferral of Effective Date	January 1, 2023
IAS 1 (Amendment II) Disclosure of Accounting policies	January 1, 2023
IAS 8 (Amendment) Definition of Accounting Estimates	January 1, 2023
IAS 12 (Amendment) Deferred Tax related to Assets and Liabilities arising from a Single Transaction	January 1, 2023
IFRS 17 (Amendment) Initial Application of IFRS 17 and IFRS 9 – Comparative Information	January 1, 2023

Standards adopted in 2021

Certain new accounting standards and interpretations have been adopted and their application is mandatory for the first time in preparing the consolidated financial statements as of December 31, 2021. These standards did not have a material impact on Sono Group’s consolidated financial statements.

Amendments to IFRS 9, IAS 39, IFRS 7, IFRS 4 and IFRS 16 (Interest Rate Benchmark Reform Phase 2) provide temporary reliefs which address the financial reporting effects that arise when an interbank offered rate (IBOR) is replaced with an alternative nearly risk-free interest rate (RFR). The amendments include practical expedients with regards to the application of hedge accounting as well as new disclosure requirements. The Group is neither exposed to a direct risk from changes in alternative benchmark interest rates nor subject to changes in the valuation methodology or discount rates (indirect risk) as of December 31, 2021. Therefore, these amendments have no impact on the consolidated financial statements of the Group.

Note 3 - Basis of Consolidation

12 Months Ended

Dec. 31, 2021

Disclosure of basis of consolidation [text block]

3.	Basis of consolidation

The consolidated financial statements reflect the assets, liabilities and results of operations of Sono N.V. and its sole and wholly-owned subsidiary Sono Motors, over which Sono N.V. has control. Control over an entity exists when Sono N.V. is exposed to, or has rights to, variable returns from its involvement with the entity and has the ability to affect those returns through its power to direct the activities of the entity. Controlled subsidiaries are fully consolidated from the date on which control is transferred to Sono N.V.

The fiscal year of both Group entities corresponds to the calendar year ending December 31.

All intra-group assets and liabilities, equity, income, expenses and cash flows relating to transactions between members of the Sono Group are eliminated upon consolidation.

The assets and liabilities of both companies included in the consolidated financial statements are recognized in accordance with the uniform accounting policies used within the Sono Group.

The consolidation process involves adjusting the items in the separate financial statements of the parent and its subsidiary and presenting them as if they were those of a single economic entity. Intercompany profits or losses are eliminated in Group noncurrent assets. Deferred taxes, if any, are recognized for consolidation adjustments, and deferred tax assets and liabilities are offset where taxes are levied by the same tax authority and have the same maturity.

Note 4 - Significant Accounting Policies

12 Months Ended

Dec. 31, 2021

Disclosure of significant accounting policies [text block]

4.	Significant accounting policies

4.1

Revenue

Sono Group recognizes revenues primarily from the integration of Sono Motors patented solar technology across other transportation platforms and from the Sono app, which provides an in-app booking and payment system and optional additional insurance. Sono Group expects to recognize revenues also from the sale of the Sion electrical vehicle after the start of production in the second half of 2023.

Sales are recognized when control of the goods and services is transferred to the customer, being generally when the customer gains the ability to direct the use of the goods and services and obtains substantially all of the remaining benefits from them. The amount of revenue recognized equals the amount of consideration the Group expects to receive in exchange for the goods and services. Management has determined that Sono Group acts as a principal in all sales transactions because it has control over the goods and services before transferring control to customers.

A receivable is recognized when the goods and services are delivered or are ready for use as this is the point in time that the consideration is unconditional because only the passage of time is required before payment is due. Goods and services transferred are accounted for as separate performance obligations if they are distinct, i.e., the customer can benefit from the goods or services on its own or together with other resources readily available to the customer and the promise to transfer the good or service is separately identifiable from other promises in the contract. Performance obligations may be satisfied over time or at a point in time. Performance obligations are satisfied over time when the customer simultaneously receives and consumes the benefits resulting from the Group’s performance as the Group performs, when the Group creates or enhances an asset while the customer controls it or when the Group’s performance does not create an asset with an alternative use to the Group and the Group has an enforceable right to payment for performance completed to date. For such performance obligations, the Group recognizes revenue in line with the progress towards complete satisfaction of the performance obligation. As the information required to measure directly and faithfully the output transferred to the customer to date is not readily available but the work required to satisfy the Group’s performance obligations usually has a direct relation to satisfaction progress, progress is measured based on the Group’s input in relation to the total amount of input the Group expects is necessary to fulfill the performance obligation, i.e., on a cost-to-cost basis. Performance obligations that are not satisfied over time are satisfied at a point in time. Such obligations are satisfied when the customer obtains control of the asset or service, i.e., the customer accepts delivery of the integrated asset or in-app services are ready for use by the customer.

Transaction prices do not include any variable amounts or significant financing components. Payment generally is due within 14 days after Sono Group has fulfilled its performance obligation. Regarding the treatment of advance payments from customers, please refer to note 4.8 Advance payments received from customers.

No significant judgement is required to assess the timing of satisfaction of the Group’s performance obligations, the transaction price or the amounts allocated to distinct performance obligations. Obligations regarding returns or warranties do not arise from revenues.

4.2

Grants from government agencies and similar bodies

Sono Group receives grants from government agencies and similar bodies like the European Union for participation in specific research and development projects. The grants are recognized when there is reasonable assurance that the grant will be received, and all grant conditions will be met. If grant funds are received prior to qualifying expenses being incurred or assets purchased, they are deferred and recognized in other liabilities. If the funds reimburse expenses, the liability is amortized into other operating income on a systematic basis over the period in which the Group incurs the corresponding expenses. If the funds reimburse purchased assets, the liability is reduced with a corresponding amount deducted from the asset’s carrying amount upon recording of the qualified asset.

4.3

Financial instruments

Initial recognition

A financial instrument is any contract that gives rise to a financial asset of one entity and a financial liability or equity instrument of another entity. Sono Group initially recognizes financial instruments when it becomes party to the contractual provisions of the instrument. Regular way purchases and sales of financial assets are recognized on settlement date, i.e., the date that an asset is delivered to or by an entity.

Offsetting of financial assets and financial liabilities

Financial assets and liabilities are only offset if offsetting the amounts is legally enforceable at the current time and if there is an actual intention to offset. In general, the Group does not offset financial assets and liabilities and no material offsetting potential exists.

4.3.1

Financial assets

Initial measurement

Sono Group’s financial assets include cash and cash equivalents, deposits and other financial receivables. At initial recognition, Sono Group measures a financial asset at its fair value plus, in the case of a financial asset not at fair value through profit or loss, transaction costs that are directly attributable to the acquisition of the financial asset.

After the initial measurement, financial assets are subsequently classified into one of the following categories:

financial assets at fair value through profit or loss (FVTPL);

financial assets at fair value through other comprehensive income (FVOCI, debt instruments);

financial assets at fair value through other comprehensive income (FVOCI, equity instruments); and

financial assets at amortized cost (AC).

The classification depends on the financial asset’s contractual cash flow characteristics and the business model (‘hold to collect’, ‘hold to collect and sell’ and ‘other’) for managing them. The cash flow characteristics are assessed at an instrument level, whereas the business model is assessed on portfolio level. Under the business model ‘hold to collect’, the Group holds a financial instrument only to collect contractual cash flows. Under the business model ‘hold to collect and sell’, the Group holds a financial instrument both to collect contractual cash flows and to receive economic benefits from selling these instruments. All other debt instruments are held under the business model ‘other’. Debt instruments that are held under the business model ‘hold to collect’, where those contractual terms give rise to cash flows that are solely payments of principal and interest (SPPI) on the outstanding principal amount , are measured at AC. Financial assets that are held under the business model ‘hold to collect and sell’, where the SPPI criterion is met, are measured at FVOCI. All other debt instruments are measured at FVTPL. Additionally, IFRS 9 allows for optional measurement at FVTPL if using the option significantly reduces a measurement or recognition inconsistency (accounting mismatch). Sono Group does not use this option.

Financial assets that are equity instruments are measured at FVTPL, unless the Group exercises the policy choice to recognize changes in fair value through other comprehensive income (FVOCI). The gains and losses from the measurement of equity investments are never recycled to the income statement but instead reclassified to revenue reserves on disposal (no reclassification).

Subsequent measurement

Management has determined that, as of the reporting date, all financial assets are to be measured at amortized cost as the Group only holds debt instruments and these are held within the business model ‘hold to collect’ and have passed the SPPI-test.

Financial assets at amortized cost are subsequently measured using the effective interest rate (EIR) method and are subject to impairment. Gains and losses are recognized in profit or loss (interest and similar income/expense) when the asset is derecognized, modified or impaired. Changes in the loss allowance are recognized in profit or loss (other operating income/impairment losses on financial assets).

Derecognition

A financial asset (or, where applicable, a part of a financial asset or part of a group of similar financial assets) is derecognized when Sono Group no longer has the contractual rights to the asset or the rights to receive cash flows from the asset have expired.

Impairment

IFRS 9 requires recognizing expected credit losses for debt financial assets measured at AC or at FVOCI, lease receivables and contract assets, for which there is no objective evidence of impairment and loss allowances for financial assets that are credit impaired. ECLs are based on the difference between the contractual cash flows due in accordance with the contract and all the cash flows that Sono Group expects to receive, discounted at an approximation of the original EIR. The expected cash flows will include cash flows from the sale of collateral held or other credit enhancements that are integral to the contractual terms.

For the calculation of impairment losses, IFRS 9 distinguishes between the general approach and the simplified approach.

Under the general approach, financial assets are allocated to one of three stages. For financial assets not yet credit-impaired at initial recognition, ECLs are provided for credit losses that result from default events that are possible within the next 12 months (12-month ECL, Stage 1). In subsequent measurement, for credit exposures for which there has not been a significant increase in credit risk since initial recognition, 12-month ECL are provided. For those credit exposures for which there has been a significant increase in credit risk since initial recognition, a loss allowance is required for credit losses expected over the remaining life of the exposure, irrespective of the timing of the default (lifetime ECL, Stage 2). Financial assets with objective evidence of impairment are allocated to Stage 3, for which also lifetime expected credit losses are calculated.

Sono Group applies the general approach unless the simplified approach is required. The simplified approach is required for trade receivables or contract assets resulting from transactions within the scope of IFRS 15 that do not contain a significant financing component. Under the simplified approach, the loss allowance is always measured over the remaining life of the exposure (lifetime ECL, Stage 2). In addition, the simplified approach also requires loss allowances in case an objective indication of default is present (credit-impaired financial assets; Stage 3).

Sono Group generally presumes all financial assets that are 30 days past due to have a significant increase in credit risk and accounts for expected losses over the remaining lifetime of those financial assets. Sono Group presumes a default, based on experience and the business conduct within Sono Group’s line of business, to occur when financial assets are 90 days past due (Stage 3). However, due to the manageable number and respective gross carrying amount of financial assets in Sono Group’s consolidated balance sheet, Sono Group decided to test all financial assets, regardless of their maturity, individually for expected credit loss, using reasonable and supportable historic and forward-looking information.

4.3.2

Financial liabilities

Initial measurement

Sono Group’s financial liabilities include lease liabilities, loans from shareholders and private investors, participation rights, and trade and other payables. Regarding lease liabilities, please refer to note 4.6.2 Lease liabilities.

All financial liabilities in the scope of IFRS 9 are initially measured at their fair value minus, in the case of financial liabilities not at fair value through profit or loss (FVTPL), transaction costs that are directly attributable to the issue of the financial liabilities. In case of financial liabilities at FVTPL, transaction costs are directly recognized in profit or loss. After initial measurement, the financial liabilities are subsequently classified as measured either at amortized cost or fair value through profit or loss.

Sono Group analyzes all contracts to determine whether the underlying contracts are debt or equity.

An embedded derivative in a hybrid contract, with a financial liability or non-financial host, is separated from the host and accounted for as a separate derivative if: the economic characteristics and risks are not closely related to the host; a separate instrument with the same terms as the embedded derivative would meet the definition of a derivative; and the hybrid contract is not measured at fair value through profit or loss. Reassessment of the bifurcation requirement only occurs if there is a change in the terms of the contract that significantly modifies the cash flows that would otherwise be required. Bifurcated embedded derivatives are measured at fair value with changes in fair value recognized in profit or loss. Additionally, IFRS 9 allows for an optional classification of a financial liability measured at FVTPL if a contract contains one or more embedded derivatives, unless the embedded derivative(s) do(es) not significantly modify the contractual cash flows or it is clear with little or no analysis at the time of the contract’s first recognition that a separation of the embedded derivatives is prohibited. Sono Group exercised this option in 2020 for mandatory convertible notes.

Subsequent measurement

The measurement of financial liabilities of Sono Group depends on their classification as follows:

Financial liabilities at FVTPL: As of December 31, 2021, there are no financial liabilities at FVTPL on the balance sheet of Sono Group. As of December 31, 2020, this category solely consisted of mandatory convertible loans that contained one or more embedded derivatives and were designated as at fair value through profit or loss in accordance with IFRS 9.4.3.5. by Sono Group. Gains and losses were recognized in profit or loss (interest and similar income/expense) and, where they result from changes in own credit risk, in other comprehensive income.

Financial liabilities measured at amortized cost (FLAC): After initial recognition, these liabilities are measured at amortized cost using the EIR method. Gains and losses are recognized in profit or loss (interest and similar income/expense) when the liabilities are derecognized as well as in case of amortization using the EIR method. Amortization according to the EIR method is included in interest expenses in profit or loss. Amortized cost is calculated by considering any discount or premium on acquisition and fees or costs that are an integral part of the EIR.

Derecognition

A financial liability is derecognized when the obligation under the liability is discharged or canceled or expires. When an existing financial liability is replaced by another one from the same lender on substantially different terms, or the terms of an existing liability are substantially modified, such an exchange or modification is treated as the derecognition of the original liability and the recognition of a new liability. The difference between the carrying amount of a financial liability (or part of a financial liability) extinguished or transferred to another party and the consideration paid, including any non-cash assets transferred or liabilities assumed, is recognized in profit or loss.

4.4

Intangible assets

4.4.1

Internally generated intangible assets

In accordance with IAS 38, research activities undertaken with the prospect of gaining new scientific or technical knowledge and understanding are expensed as incurred.

Development costs for future series products and other internally generated intangible assets may be capitalized at cost if they are directly attributable to the design and testing of identifiable and unique products controlled by Sono Group and the criteria of IAS 38.57 are met. Capitalized development costs then must include all direct costs that are attributable to the development process.

If the criteria for recognition of assets are not met, the expenses are recognized in profit or loss in the year in which they are incurred.

As of the end of the reporting period as well as in previous years, management has determined that the criteria for capitalization of development costs have not been met. Consequently, all development costs were recognized in profit or loss as incurred.

4.4.2

Acquired intangible assets

Acquired intangible assets are initially measured at cost and amortized over their useful life using the straight-line method.

4.4.3

Subsequent measurement

Following initial recognition, intangible assets are carried at cost less any accumulated amortization and any accumulated impairment losses. There were no triggering events identified in 2021 and in prior periods that would require an impairment test.

Intangible assets with finite useful lives are amortized over their useful life, generally using the straight-line method. The amortization period and the amortization method for an intangible asset with a finite useful life are reviewed at least annually at each fiscal year end. Changes in the expected useful life or the expected pattern of consumption of future economic benefits are accounted for prospectively. Amortization of an intangible asset is recognized in profit or loss in accordance with the function of the intangible asset.

Gains or losses arising from derecognition of an intangible asset are measured as the difference between the net disposal proceeds and the carrying amount of the asset and are recognized in profit or loss in the period in which the asset is derecognized.

Intangible assets are amortized using the straight line-method over the useful life as displayed in the below table:

		Website				Software
Useful life (years)			3 - 4				1 - 5

4.5
Property, plant and equipment

Property, plant and equipment are stated at cost less accumulated depreciation and impairments. These costs also comprise the costs for replacement parts, which are recognized at the time they are incurred, providing they meet the recognition criteria. All other repair and maintenance costs are expensed as incurred. Depreciation begins when the asset is available for use.

Property, plant and equipment are depreciated using the straight line-method over the useful life as displayed in the below table:

		Equipment / Hardware				Advance payments to technical equipment and machinery
Useful life (years)			3 - 13				-

Impairment losses on property, plant and equipment are recognized in accordance with IAS 36 if the recoverable amount of the respective asset has fallen below the carrying amount. Recoverable amount is the higher of value in use and fair value less costs to sell. If the reasons for impairments recognized in previous years no longer apply, the impairment losses are reversed up to a maximum of the amount that would have been determined if no impairment loss had been recognized.

The recognition of impairment losses requires the prior identification of triggering events. For details on any impairments or reversals of earlier impairments in the reporting period, please refer to note 7.2 Property, plant and equipment.

Property, plant and equipment are derecognized upon disposal or when no further economic benefits are expected from their continued use or sale. The gain or loss on derecognition is determined as the difference between the net disposal proceeds and the carrying amount and recognized in profit or loss in the period in which the item is derecognized.

The residual values of the assets, useful lives and depreciation methods are reviewed at the end of each fiscal year and any changes are accounted for prospectively.

The residual values of the assets are generally considered to be zero.

4.6

Leases

Applying IFRS 16, at inception of a contract, Sono Group assesses whether a contract is, or contains, a lease. A contract is, or contains, a lease if the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration.

4.6.1

Right-of-use assets

Sono Group recognizes right-of-use assets at the commencement date of the lease (i.e., the date the underlying asset is available for use). Right-of-use assets are measured at cost, less any accumulated depreciation and impairment losses, and adjusted for any remeasurement of lease liabilities. The cost of right-of-use assets includes the amount of lease liabilities recognized, initial direct costs incurred, and lease payments made at or before the commencement date less any lease incentives received as well as any estimated costs to be incurred by the lessee for dismantling and removing the underlying asset. Unless Sono Group is reasonably certain to obtain ownership of the leased asset at the end of the lease term, the recognized right-of-use assets are depreciated on a straight-line basis over the shorter of its estimated useful life, and the lease term. Right-of-use assets are subject to impairment according to IAS 36.

4.6.2

Lease liabilities

At the commencement date of the lease, Sono Group recognizes lease liabilities measured at the present value of lease payments to be made over the lease term. The lease payments include fixed payments (including in-substance fixed payments) less any lease incentives receivable, variable lease payments that depend on an index or a rate, and amounts expected to be paid under residual value guarantees. The lease payments also include the exercise price of a purchase option reasonably certain to be exercised by Sono Group and payments of penalties for terminating a lease, if the lease term reflects Sono Group exercising the option to terminate. The variable lease payments that do not depend on an index or a rate are recognized as expenses in the period in which the event or condition that triggers the payment occurs. To calculate the present value of lease payments, Sono Group uses the incremental borrowing rate at the lease commencement date if the interest rate implicit in the lease is not readily determinable. After the commencement date, the amount of lease liabilities is increased to reflect the accretion of interest and reduced for the lease payments made. In addition, the carrying amount of lease liabilities is remeasured if there is a modification, a change in the lease term, a change in the in-substance fixed lease payments or a change in the assessment of whether an option to purchase the underlying asset will be executed with reasonable certainty.

When the lease liability is remeasured, a corresponding adjustment is made to the carrying amount for the right-of-use asset or is recorded in profit or loss if the carrying amount of the right-of-use asset has been reduced to zero.

4.6.3

Short-term leases and leases of low-value assets

Sono Group applies the short-term lease recognition exemption to its short-term leases of buildings and cars (i.e., leases that have a lease term of twelve months or less from the commencement date and do not contain a purchase option). It also applies the lease of low-value assets recognition exemption to leases of office equipment that are considered of low value. Lease payments on short-term leases (contracts with a term of twelve months or less) and leases of low-value assets (Sono Group threshold of fair value of leased asset < kEUR 5) are recognized as expense on a straight-line basis over the lease term.

4.7

Cash and cash equivalents

Cash and cash equivalents include PayPal accounts to the extent that these can be disposed of at short notice (regular rolling reserve), bank balances and money in transit with an original maturity of three months or less. Cash and cash equivalents are measured at amortized cost and are subject to the impairment requirements of IFRS 9.

4.8

Advance payments received from customers

Advance payments received from customers are recognized at the time the cash is collected by Sono Group. As Sono Group will begin delivering its Sion electrical vehicles to customers after the start of production, which is currently expected in the second half of 2023, all advance payments are shown as noncurrent, even though some customers may be able to cancel their contract (depending on the general terms in some cases cancellation is possible within the next 12 months) and demand the money back. Due to an original term of the advance payments which is more than 12 months, the advance payments include a significant financing component. The compounding effect is recognized in interest expense and increases the advance payments received from customers. Sales revenues from advance payments received from customers will be recognized at the time of delivery of the car.

4.9

Provisions

Provisions for bonus and settlement payments or any other obligations are recognized when the group has a present legal or constructive obligation as a result of past events, if it is probable that an outflow of resources will be required to settle the obligation, and if the amount can be reliably estimated. Provisions are not recognized for future operations. Moreover, provisions are recognized when Sono Group determines that it has a contract in which the unavoidable costs of meeting the obligations under the contract exceed the economic benefits expected to be received under it (onerous contract).

Provisions are measured at the present value of management’s best estimate of the expenditure required to settle the present obligation at the end of the reporting period. Provisions for onerous contracts are measured at the present obligation under the contract, i.e., the lower of the cost of fulfilling the contract and any compensations or penalties arising from failure to fulfill it. Provisions are discounted when the time value of money is material. As of December 31, 2021, and 2020, there were no discounted provisions.

4.10

Taxes

4.10.1

Current tax assets and liabilities

Current tax assets and liabilities are measured at the amount expected to be recovered from or paid to the taxation authorities based on the tax rates and tax laws that are enacted or substantively enacted at the end of the reporting period.

4.10.2

Deferred taxes

Deferred tax is recognized using the liability method on temporary differences as of the end of the reporting period between the carrying amounts of assets and liabilities and their tax bases.

Deferred tax liabilities are recognized for all taxable temporary differences. The only exception is if the deferred income tax arises from initial recognition of an asset or liability in a transaction other than a business combination which, at the time of the transaction, affects neither accounting profit or loss nor taxable profit or loss.

Deferred tax assets are recognized for deductible temporary differences and to the extent that it is probable that future taxable income will allow the deferred tax asset to be realized. Deferred tax liabilities are recognized for all taxable temporary differences associated with investments in subsidiaries and associates, except where the Group is able to control the reversal of the temporary differences and it is probable that the temporary difference will not reverse in the foreseeable future. However, to the extent that taxable income exceeds an amount of kEUR 1,000, only up to 60% of such income may be offset against tax losses carried forward. The remaining 40% of the taxable income is subject to corporate income and trade tax under the so-called minimum taxation rules. Taxable income for corporate income tax and trade tax purposes of up to an amount of kEUR 1,000 could fully be offset against tax losses carried forward.

Deferred tax assets and deferred tax liabilities are measured at the tax rates that are expected to apply in the year when the asset is realized, or the liability is settled based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax assets may only be recognized up to the amount of the deferred tax liabilities as it is not sufficiently probable that future taxable profit will be available against which they can be utilized.

If transactions and other events are recognized directly in equity, any related taxes on income are also recognized directly in equity. As transaction costs are recognized in the capital reserve, corresponding (deferred) tax effects are recognized partly due to the loss situation of Sono Group and the fact that deferred taxes for losses carried forward were partly recognized at the level of Sono N.V.

Deferred tax assets and deferred tax liabilities are offset if there is a legally enforceable right to offset current tax assets and current tax liabilities and these relate to income taxes levied by the same tax jurisdiction.

4.10.3

Tax losses carried forward

Based on management’s estimation, a deferred tax asset is recognized for the tax losses carried forward to the extent that it is probable that future taxable profit will be available against which the unused tax losses and unused tax credits can be utilized. Only up to 60% of the Group’s annual taxable income, to the extent such taxable income exceeds kEUR 1,000, may be offset against tax loss carry forwards. The remaining 40% of the taxable income is subject to corporate income and trade tax under the so-called minimum taxation rules. Annual taxable income for corporate income tax and trade tax purposes of up to kEUR 1,000 could fully be offset against tax losses carried forward. For further information regarding the tax losses carried forward see note 4.13.6 Recoverability of deferred tax assets in relation to loss carryforwards.

4.11

Share-based payment

Share-based payment transaction include:

equity-settled share-based payment transactions,

cash-settled share-based payment transactions, and

transactions in which the entity receives or acquires goods or services and the terms of the arrangement provide either the entity or the supplier of those goods or services with a choice of whether the entity settles the transaction in cash (or other assets) or by issuing equity instruments

and are accounted for in accordance with IFRS 2.

4.11.1

Equity-settled

For equity-settled share-based payment transactions, on grant date, Sono Group initially measures the fair value of the received services by reference to the fair value of the equity instruments granted. Sono Group recognizes the fair value of the goods or services as expenses and a corresponding increase in equity when the services are received.

Vesting conditions, other than market conditions, are not considered when estimating the fair value of the equity instruments at the measurement date. Instead, vesting conditions, other than market conditions, are considered by adjusting the number of equity instruments included in the measurement of the transaction amount. Non-vesting conditions are considered when estimating the fair value of the equity instruments granted.

If Sono Group and the supplier of services did not agree on service conditions and the supplier of services is unconditionally entitled to the equity instruments, Sono Group presumes that the services have been received on grant date and recognizes the services received in full, with a corresponding increase in equity. If Sono Group and the supplier of services did agree on service conditions, the Group accounts for the services as they are rendered by the supplier during the vesting period, with a corresponding increase in equity.

4.11.2

Choice of settlement (Sono Group)

For transactions in which the terms of the arrangement provide Sono Group with a choice of settlement, Sono Group determines whether it has a present obligation to settle in cash. Sono would have an obligation to settle in cash if the choice of settlement in equity instruments has no commercial substance, or Sono Group had a past practice or a stated policy of settling in cash, or generally settles in cash whenever the counterparty asks for cash settlement. Management determined that Sono Group does not have an obligation to settle in cash and therefore accounts for the transactions in which the terms of the arrangement provide Sono Group with a choice of settlement with the requirements applying to equity-settled share-based payment transactions. We refer to note 4.11.1 Equity-settled.

Upon settlement:

if Sono Group elects to settle in cash, the cash payment is accounted for as the repurchase of an equity interest, i. e. as a deduction from equity,

if Sono Group elects to settle by issuing equity instruments, no further accounting is required and

if Sono Group elects the settlement alternative with the higher fair value, as at the date of settlement, Sono Group recognizes an additional expense for the excess value given, i. e. the difference between the cash paid and the fair value of the equity instruments that would otherwise have been issued, or the difference between the fair value of the equity instruments issued and the amount of cash that would otherwise have been paid, whichever is applicable.

For further details, please refer to note 9.3. Remuneration based on shares (share-based payment).

4.12
Foreign currency translation

For each entity, the Group determines the functional currency and items included in the financial statements of each entity are measured using that functional currency. Foreign currency transactions are initially translated at the spot rate applicable between the functional currency and the foreign currency on the date of the transaction. Monetary assets and liabilities in foreign currencies are translated to the functional currency using the prevailing rate at the reporting date. Foreign currency exchange differences are recognized in profit or loss.

4.13
Significant accounting judgments, estimates and assumptions

The preparation of consolidated financial statements in accordance with IFRS requires management to make judgments, estimates and assumptions that affect the reported amounts in the financial statements. Management continually evaluates its judgments and estimates in relation to assets, liabilities, contingent liabilities, and expenses. Management bases its judgments and estimates on historical experience and on other various factors it believes to be reasonable under the circumstances, the result of which forms the basis of the carrying values of assets and liabilities that are not readily apparent from other sources. Actual results may differ from these estimates under different assumptions and conditions and may materially affect the financial results or the financial position reported in future periods.

In the process of applying the accounting policies, management has made the following judgments, which have the most significant effect on the amounts recognized in the consolidated financial statements.

4.13.1

Going concern

Management assessed Sono Group’s ability to continue as a going concern, evaluating whether there are conditions and events, considered in the aggregate, that raise substantial doubt about its ability to continue as a going concern using all information available about the future, focusing on the twelve-month period following the issuance date of the consolidated financial statements.

Historically, Sono Group has financed its operations primarily through capital raises and loans from shareholders and private investors (including its IPO in November 2021) as well as through advance payments received from customers. Since inception Sono Group has incurred recurring losses and negative cash flows from operations, including accumulated net losses of kEUR 147,081 as of December 31, 2021, and expects to continue to generate operating losses and negative cash flows from operations for the foreseeable future.

In November 2021, Sono Group received net proceeds from their IPO in the amount of kEUR 142,334. At that time, Sono Management planned and disclosed that the proceeds were to be used to finalize the development of the prototype SVC3 and to maintain liquidity of the Company until May 2023 (including a reserve of mEUR 41 related to the potential repayment of the customer prepayments at any time). Management also began to increase headcount and proceeded with additional development and production activities for the car and solar technology, which increased the rate at which available cash is being expended. With the change of contract manufacturer (see note 9.7 Subsequent events), the planned start of series production had to be postponed from the first half of 2023 to the second half of 2023 and the cost estimates for pre-production activities had to be increased. These changes to the initial plan put increased pressure on the financing of development and operations and will require additional funding to be received in the short term.

Sono Group’s financing plan shows substantial financing needs, including increased needs due to a change in its contract manufacturer (see note 9.7 Subsequent events), planned cost increases, additional technical and regulatory requirements, and changes in suppliers in addition to the current economic environment of increasing prices, resulting in significantly higher financing requirements needed to reach the start of serial production in the second half of 2023. Based on numerous risks and uncertainties, Sono Group cannot predict with certainty the total costs to be incurred prior to the commencement of production.

Sono Group’s forecasted cash required to fund investments and operations (excluding future financing plans and counter measures to be taken by management) indicates that the Group does not currently have sufficient funds to fund its operations through the twelve-month period from the issuance date of these financial statements. Consequently, the Group’s ability to continue as a going concern is largely dependent on its ability to raise additional funds in the near future through debt or equity transactions, additional advance payments, or other means, to finance investments and operations and ultimately, to achieve serial production of the Sion. In this regard, management plans to seek to raise additional capital of at least mEUR 200 in 2022 through the issuance of new shares in public offerings and/or through equity facility transactions with financial institutions currently offered to Sono Group (and, based on current expectations, would also expect to raise additional capital at a future date prior to commencement of production). In addition, the Group is exploring alternative methods of obtaining financing, including applying for subsidies and grants.

There is no certainty that Sono Group will be successful in obtaining sufficient funding through additional public offerings of equity. If Sono Group is unable to obtain additional funding from public offerings, management would consider entering into equity facilities with a financial institution; however, the ability of the Sono Group to raise necessary funds through these or any other means is subject to uncertainty and is not assured. If the Group is unsuccessful in raising the planned capital through equity facilities, Sono Group’s management will be forced, and is committed, to substantial cost-cutting measures in order to maintain minimum liquidity of the Company within the twelve-month period from the issuance date of these financial statements. Risks and uncertainties related to the supply chain, cost development, technical challenges (e.g. homologation certification), the ongoing corona pandemic and the war in Ukraine may also negatively affect the Group’s business, liquidity and financial position going forward (see note 8.1.3 Liquidity risk.

As discussed above, Sono Group will need to raise substantial additional capital to finance its future operations, which is not assured, and has consequently concluded that there is substantial doubt about its ability to continue as a going concern. The financial statements do not include any adjustments that might result from the outcome of this uncertainty.

4.13.2

Remuneration based on shares (share-based payment)

For equity-settled share-based payment transactions (see note 4.11 Share-based payment), on grant date, Sono Group initially measures the fair value of the received services by reference to the fair value of the equity instruments granted. The fair value measurement of the share options for the equity-settled share-based transactions requires assumptions about the input data for using Black-Scholes Model. The expected life of the share options is based on current expectations and is not necessarily indicative of exercise patterns that may occur. The expected volatility was based on an evaluation of historical volatilities of comparable listed peer group companies. The expected volatility reflects the assumption that the historical volatility over a period similar to the life of the options is indicative of future trends, which may not necessarily be the actual outcome. For further details about the input factors used see note 9.3 Remuneration based on shares (share-based payment).

4.13.3

Corona pandemic

In 2020, COVID-19 caused a global pandemic. At the end of 2021, the pandemic was still present. In response to this pandemic, governments as well as private organizations implemented numerous measures seeking to contain the virus. These measures disrupted the manufacturing, delivery and overall supply chain of vehicle manufacturers and suppliers and led to a global decrease in vehicle sales. These measures have also led to a trend to work-from-home, which could result in a lower demand for cars in the future and negatively impact the Group’s sales and marketing activities. The pandemic may also affect the interest of Sono Group’s customers in their car-sharing and ride-pooling networks. Sono Motors cannot yet foresee the full extent of COVID-19's impact on its business and operations and such impact will depend on future developments of the outbreak, including new information concerning the global severity of and actions taken to contain the outbreak and any future mutations of the virus, which are highly uncertain and unpredictable. The virus could have a material impact on Sono Group’s ability to raise additional liquidity to the extent needed and capital management. Sono Group will continue to monitor the situation and the effects of this development on its liquidity and capital management. At the same time, Sono Group has taken actions to maintain operations and protect employees from infection. Since 2020, COVID-19 has had a slightly negative impact on orders and advance payments received from customers. Based on the most recent available information, COVID-19 might continue to have a negative effect on orders and advance payments received from customers in 2022.

4.13.4

Russo-Ukrainian war

In February 2022, the government of Russia invaded Ukraine across a broad front. In response to this aggression, governments around the world have imposed severe sanctions against Russia. These sanctions disrupted the manufacturing, delivery and overall supply chain of vehicle manufacturers and suppliers. We cannot yet foresee the full extent of the sanctions’ impact on our business and operations and such impact will depend on future developments of the war, which is highly uncertain and unpredictable. The war could have a material impact on our results of operations, liquidity, and capital management. We will continue to monitor the situation and the effect of this development on our liquidity and capital management.

4.13.5

Sono Points

Sono Motors has carried out several crowdfunding campaigns in which the Sion could be reserved against an advance payment received from customers of various amounts. With the reservation, the customer is entitled to the right to enter a contract for the purchase of the Sion. However, Sono Motors is not obliged to deliver a vehicle to the customer. Instead, the customer can withdraw from the reservation if he or she decides not to conclude the purchase contract or Sono Motors has not offered a purchase contract by the respective date defined by the underlying terms and conditions. In December 2020, a crowdfunding campaign with the aim of raising a predefined target amount was launched. In connection with the campaign, so-called Sono Points were introduced and communicated on December 15, 2020. The three founders, Laurin Hahn, Navina Persteiner and Jona Christians, announced that they would be giving a majority of their profit participation rights (for clarification: the voting rights remain with the founders), amounting to 64.07 % of all profit participation rights (as of December 31, 2019) to a “community pool”, from which the so-called Sono Points would be awarded. The number of Sono Points, through which the participants in the crowdfunding and pre-orders can participate in the community pool, is significantly influenced by the time and amount of the individual deposit. The maximum number of possible Sono Points in total is not limited. In case a Sono Point holder should revoke or withdraw from the reservation or should revoke or withdraw from the purchase contract concluded based on the reservation, the Sono Points will expire.

According to current legal assessments, management concludes that Sono Points do not impact Sono Group as the obligation relates only to the founders.

4.13.6

Recoverability of deferred tax assets in relation to loss carryforwards

Management has determined that these tax losses represent start-up losses as a result of establishing Sono Motors’ business. The tax losses can be carried forward indefinitely and have no expiry date. Management does not expect a (proportional) reduction of deductible tax loss carryforwards due to any future corporate restructuring or due to the various capital measures, especially the IPO, in 2021. For further details, please refer to note 1 General information. Management expects that the “hidden reserves clause” can be asserted and that the tax losses can still be carried forward.

Note 5 - Segment Information

12 Months Ended

Dec. 31, 2021

Disclosure of operating segments [text block]

5.	Segment information

An operating segment is defined as a component of an entity for which discrete financial information is available and whose operating results are regularly reviewed by management (chief operating decision maker within the meaning of IFRS 8). Sono Motors is a start-up company that has not yet started production. As all significant activities of the Group relate to the development of the electrical car Sion and management makes decisions about allocating resources and assessing performance based on the entity as a whole, Management has determined that Sono Group operates in one operating and reportable business segment. Furthermore, Sono Group is currently almost exclusively active in Germany, however, noncurrent assets are in Germany (kEUR 3,899) and Finland (kEUR 898). Thus, Sono Group does not report any additional segment information.

For the distribution of revenues across products, please refer to note 6.1 Revenue and cost of goods sold. Revenues from the integration of solar technology across different platforms (kEUR 11, 2020: kEUR -, 2019: kEUR -) results from two different customers, each of which has a share of revenues greater than ten percent. These customers are located in Germany (kEUR 2, 2020: kEUR -, 2019: kEUR -) and the United States (kEUR 9, 2020: kEUR -, 2019: kEUR -).

Note 6 - Disclosures to the Statement of Income and Loss

12 Months Ended

Dec. 31, 2021

Disclosures to the statement of income and loss [text block]

6.	Disclosures to the consolidated statements of income or loss

6.1

Revenue and cost of goods sold

Revenues in the amount of kEUR 11 (2020: kEUR -, 2019: kEUR -) and cost of goods sold in the amount of kEUR 52 (2020: kEUR -, 2019: kEUR -) relate to the first contracts to explore the integration of Sono Motors’ patented solar technology across other transportation platforms, which were signed and executed in 2021. Revenues in the amount of kEUR 5 (2020: kEUR -, 2019: kEUR -) and cost of goods sold in the amount of kEUR 6 (2020: kEUR -, 2019: kEUR -) are connected with the launch of Sono app which provides an in-app booking and payment system as well as additional insurance if required. Trade receivables in the amount of kEUR 20 (previous year: kEUR -) result from these activities.

As of the reporting date and as of the end of the previous year, no contract assets or liabilities resulted from these activities. As of the reporting date, the aggregate amount of the transaction price allocated to unsatisfied performance obligations amounts to kEUR 42 (previous year: kEUR -). The Group expects to recognize this amount as revenue within one year of the reporting date.

6.2

Cost of research and development

The table below presents details on the cost of research and development:

	2021		2020		2019
	kEUR		kEUR		kEUR

Development cost of prototypes		27,632		8,234		2,102
Personnel expenses		11,340		21,652		2,243
thereof related to the CSOP (IFRS 2)		1,137		17,723		-
Software fees and subscriptions		506		91		44
Professional services		352		267		284
Depreciation and amortization		284		171		78
Other		495		54		186
		40,609		30,469		4,937

There are no research expenses included in the profit and loss of Sono Group in the financial year 2021 and prior periods, as the Group does not perform research. As the recognition criteria for development cost have not been met, all development expenses were recognized in profit or loss as incurred in the reporting year and the previous years. The personnel expenses concern employees responsible for development activities and the share of the employee participation program (Conversion Stock Option Program or CSOP) attributable to them (see note 9.3 Remuneration based on shares (share-based payment).

6.3

Selling and distribution expenses

The below table displays details included in selling and distribution expenses:

	2021		2020		2019
	kEUR		kEUR		kEUR

Personnel expenses		1,764		8,490		1,582
thereof related to the CSOP (IFRS 2)		-		6,949		-
Professional services		704		171		103
Advertising		365		84		113
Other		387		355		337
		3,220		9,100		2,135

The personnel expenses concern mainly employees responsible for marketing activities like roadshows, test rides and social media and (previous year only) the share of the employee participation program (Conversion Stock Option Program or CSOP) attributable to them (see note 9.3 Remuneration based on shares (share-based payment).

6.4

General and administrative expenses

The below table displays details included in general and administrative expenses:

	2021		2020		2019
	kEUR		kEUR		kEUR

Professional services		7,030		4,830		670
Personnel expenses		4,574		9,148		1,325
thereof related to the CSOP (IFRS 2)		761		7,488		-
Impairment		1,965		-		-
Expenses without sufficient supporting documentation		-		21		70
Other		1,525		405		352
		15,094		14,404		2,417

The personnel expenses concern mainly employees responsible for Finance, Human Resources, Business Development, Administration etc. and the share of the employee participation program (Conversion Stock Option Program or CSOP) attributable to them (see note 9.3 Remuneration based on shares (share-based payment). The professional services include accounting, tax and legal services as well as other external services. The increase of expenses for professional services mainly concerns professional services related to the preparation of consolidated financial statements and consolidated interim reports in accordance with IFRS and their audit and review under consideration of PCAOB requirements as well as legal and tax opinions prepared in this context.

In 2021, an impairment loss of kEUR 1,965 for assets intended for the development of prototypes has been recognized in general and administrative expenses. For details, please refer to section 7.2 Property, plant and equipment. An amount of kEUR 2,690 for professional services received in connection with the IPO was not recognized in general and administrative expenses but deducted from capital reserves. Furthermore, kEUR 135 for professional services in connection with the IPO received in the previous year were accrued as a current non-financial asset in the previous year and deducted from capital reserve in the reporting year.

6.5

Additional information on the nature of expenses

The below table displays the depreciation and amortization expenses as well as personnel expenses included in cost of research and development, selling and distribution costs and general and administrative expenses:

	2021		2020		2019
	kEUR		kEUR		kEUR

Personnel expenses		17,678		39,291		5,151
thereof related to CSOP (IFRS 2)		1,898		32,160		-
Depreciation and amortization		574		384		224
		18,252		39,675		5,375

The decrease of personnel expenses (kEUR -21,613) is due to the equity-settled employee participation program in 2021 (Conversion Stock Option Program or CSOP), which had a lower effect in 2021, as compared to the previous year (2021: kEUR 1,898, 2020: kEUR 32,160, 2019: kEUR -). The decrease is attributable to the fact that the program has been offered to all participants of the previous employee participation program and new participants, who have not been part of the previous employee participation program, on December 14, 2020 (see note 9.3 Remuneration based on shares (share-based payment) and most share options were fully vested at the end of the previous year. In 2021, expenses were recognized only for a small number of options that had not yet vested at the end of the previous year. The resulting decrease is partly offset by increased personnel costs due to an increase in the number of employees in the reporting year.

6.6

Other operating income (expenses)

Other operating income (kEUR 269, 2020: kEUR 334, 2019: kEUR 220) mainly includes government grants (kEUR 71, 2020: kEUR 68, 2019: kEUR 15), miscellaneous other operating income (kEUR 125, 2020: kEUR -; 2019: kEUR -) and agency fees from the Renault ZOE conversion (kEUR 47, 2020: kEUR 240, 2019: kEUR -).

In 2020, Sono Motors entered into a framework agreement with Renault Deutschland AG (Renault) for electric vehicles (Renault ZOE). According to the agreement, customers, who have made advance payments for the Sion, can enter into a lease agreement with Renault for a Renault ZOE and use their advance payments to partly offset their lease payments. Customers can use advance payments made up to EUR 4,000. According to the framework agreement with Renault, Sono Group receives a fixed agency fee per lease contract and transfers the advance payment to Renault. Sono Group recognizes the respective agency fee as operating income and derecognizes the advance payment received in the moment the customer enters into the lease contract with Renault.

The government grants relate to a grant that Sono Motors received from the EU to promote the development of open-source hardware.

Other operating expenses in the reporting year amount to kEUR 452 and result mainly from foreign exchange losses resulting from the conversion of a portion of the IPO proceeds from USD to EUR. In 2020, other operating expenses amounted to kEUR 349 (2019: kEUR -) and solely included expenses related to a project termination with a supplier. In 2019, there were no other operating expenses.

6.7

Impairment losses on financial assets

Impairment losses on financial assets (kEUR 6, 2020: kEUR 6, 2019: kEUR -) primarily relate to bank balances (see note 7.7 Cash and cash equivalents). For details on expected credit losses, please refer to note 8.1.2 Credit risk.

6.8

Interest and similar income

Interest and similar income (kEUR -, 2020: kEUR 2, 2019: kEUR -) relates to interest income from VAT.

6.9

Interest and similar expense

Interest and similar expense (kEUR 4,781, 2020: kEUR 2,040, 2019: kEUR 702) largely consists of interest and other expenses related to financial liabilities (kEUR 3,227, 2020: kEUR 614, 2019: kEUR 287) and the net compounding effect for advance payments received from customers (kEUR 1,497, 2020: kEUR 1,360, 2019: kEUR 415, see note 4.8 Advance payments received from customers).

6.10

Tax on income and earnings

Taxes on income kEUR -18 (2020: kEUR -; 2019: kEUR -) relate to deferred tax expenses at the level of Sono N.V. as the recognition of deferred tax assets on loss carryforwards has been recognized proportionately in equity instead of the income statement.

The below tables display the changes in deferred tax assets and liabilities:

	Dec 31, 2021			Dec. 31, 2020			Dec. 31, 2019
	kEUR			kEUR			kEUR
Deferred tax assets
due to tax loss carryforwards		54			-			-
due to advance payments received from customers		1,163			670			221
due to lease liabilities		1,015			646			735
due to current provisions		101			-			-
due to current other non-financial assets		29			-			-
due to current financial liabilities		21			-			-
due to current other liabilities		14			-			-
due to cash & cash deposits		2			1			-
due to current other financial assets		1			1			-
due to prepaid expenses		-			134			-
Deferred tax assets		2,400			1,452			956
Deferred tax liabilities
due to leases		995			639			737
due to cash & cash deposits		47			-			-
due to property, plant and equipment		45			10			8
due to noncurrent other non-financial assets		29			-			-
due to other noncurrent financial liabilities		22			112			12
Deferred tax liabilities		1,138			761			757
Non-recognition of deferred tax assets		(1,262	)		(691	)		(199	)
Recognition of deferred tax assets		1,138			761			757
Deferred tax assets/liabilities, net		-			-			-

Given the loss history of Sono Motors, deferred tax assets are not recognized on the balance sheet. The amount of deferred tax assets / liabilities as of December 31, 2020 and December 31, 2021 is zero.

Of the gross deferred tax assets, kEUR 314 as of December 31, 2021 (previous year: kEUR 806) are current and of the gross deferred tax liabilities, kEUR 47 as of December 31, 2021 (Previous year: kEUR 73) are current. Current deferred taxes are reported under non-current assets and non-current liabilities.

There are no deferred taxes with regard to Outside Basis Differences as those are permanent differences.

The amount of temporary differences on balance sheet positions for which no deferred tax asset has been recognized is displayed in the table below:

	Dec. 31, 2021		Dec. 31, 2020
	kEUR		kEUR
Advance payments received from customers		1,928		966
Lease liabilities		1,681		931
Current provisions		168		-
Other non-financial assets		48		-
Current financial liabilities		17		-
Current other liabilities		23		-
Cash & cash deposits		3		1
Other financial assets		19		2
Prepaid expenses		-		193
		3,887		2,093
Potential tax benefit at a total tax rate of 32,98 %		1,282		690

The amount of unused tax losses for which no deferred tax asset has been recognized is displayed in the table below:

	Dec. 31, 2021		Dec. 31, 2020
	kEUR		kEUR
Unused tax losses for which no deferred tax asset has been recognized (corporate tax)		111,950		51,316
Unused tax losses for which no deferred tax asset has been recognized (trade tax)		111,565		51,083
Potential tax benefit at a total tax rate of 32.98 %		36,858		16,885

As of December 31, 2021, KEUR 937 (Previous year: kEUR 723) deferred tax assets on transactions costs would have been recognized directly in equity if deferred tax assets had been recognized on losses carryforwards in full. As of December 31, 2021, kEUR 54 (previous year: kEUR -) deferred tax assets on loss carryforwards have been recognized, of which kEUR 18 (previous year: kEUR -) deferred tax assets on transactions costs have been recognized directly in equity.

The following table presents a numerical reconciliation of expected to effective income tax.

	2021			2020			2019
	kEUR			kEUR			kEUR
Income (loss) before tax for the period		(63,935	)		(56,032	)		(9,971	)
Expected income tax (income (-)/expense (+) at a tax rate of 32.98 %		(21,086	)		(18,479	)		(3,288	)
Reconciliation:
Changes in unrecognized tax losses		20,061			8,254			3,164
Changes in deferred taxes on timing differences		1,261			690			199
MCN non-tax-deductible expenses		753			-			-
CSOP non-tax-deductible expenses		626			10,606			-
Tax-deductible transaction costs		(937	)		(723	)		(36	)
Non-tax-deductible expenses		37			9			27
Other		(715	)		(357	)		(66	)
Effective income tax income for the period		-			-			-

*Mandatory Convertible Notes

As Sono N.V. is also fully taxable in Munich, Germany, the tax rate in 2019, 2020 and 2021 is unchanged.

Note 7 - Balance Sheet Disclosures

12 Months Ended

Dec. 31, 2021

Disclosure of balance sheet explanatory [text block]

7.	Balance sheet disclosures

7.1

Intangible assets

	Website		Software		Total
	kEUR		kEUR		kEUR

Historical cost
Balance as of Jan. 1, 2021		43		-		43
Additions		2		222		224
Balance as of Dec. 31, 2021		45		222		267
Accumulated amortization
Balance as of Jan. 1, 2021		27		-		27
Amortization		11		23		34
Balance as of Dec. 31, 2021		38		23		61
Carrying Amount as of Jan. 1, 2021		16		-		16
Carrying Amount as of Dec. 31, 2021		7		199		206

	Website		Software		Total
	kEUR		kEUR		kEUR

Historical cost
Balance as of Jan. 1, 2020		43		-		43
Additions		-		-		-
Balance as of Dec. 31, 2020		43		-		43
Accumulated amortization
Balance as of Jan. 1, 2020		16		-		16
Amortization		11		-		11
Balance as of Dec. 31, 2020		27		-		27
Carrying Amount as of Jan. 1, 2020		27		-		27
Carrying Amount as of Dec. 31, 2020		16		-		16

The amortization expenses for the acquired intangible assets amounting to kEUR 34 (previous year: kEUR 11) are included in research and development (kEUR 22, previous year: kEUR -), selling and distribution costs (kEUR 4, previous year: kEUR 11) and general and administrative expenses (kEUR 8, previous year: kEUR -).

7.2

Property, plant and equipment

	Equipment / Hardware		Advance payments for technical equipment and machinery			Total
	kEUR		kEUR			kEUR
Acquisition or manufacturing costs Jan. 1, 2021		281		1,965			2,246
Additions		546		926			1,472
Reclassifications		221		(221	)		-
Deductions		-		-			-
Impairment		-		(1,965	)		(1,965	)
Acquisition or manufacturing costs Dec. 31, 2021		1,048		705			1,753
Accumulated depreciation Jan. 1, 2021		144		-			144
Depreciation		125		-			125
Accumulated depreciation Dec. 31, 2021		269		-			269
Carrying Amount Jan. 1, 2021		137		1,965			2,102
Carrying Amount Dec. 31, 2021		779		705			1,484

	Equipment / Hardware		Advance payments to technical equipment and machinery		Total
	kEUR		kEUR		kEUR
Acquisition or manufacturing costs Jan. 1, 2020		239		2,313		2,552
Additions		42		-		42
Deductions		-		348		348
Impairment		-		-		-
Acquisition or manufacturing costs Dec. 31, 2020		281		1,965		2,246
Accumulated depreciation Jan. 1, 2020		83		-		83
Depreciation		61		-		61
Accumulated depreciation Dec. 31, 2020		144		-		144
Carrying Amount Jan. 1, 2020		156		2,313		2,469
Carrying Amount Dec. 31, 2020		137		1,965		2,102

The depreciation expenses for property, plant and equipment amounting to kEUR 125 (2020: kEUR 61; 2019: kEUR 50) are included in research and development (kEUR 70, 2020: kEUR 28; 2019: kEUR 19), selling and distribution costs (kEUR 27, 2020: kEUR 15; 2019: kEUR 18) and general and administrative expenses (kEUR 28, 2020: kEUR 18; 2019: kEUR 13).

Additions to equipment and hardware in the amount of kEUR 254 as well as to advance payments in the amount of kEUR 634 refer to the equipment for the production of solar panels, which are currently located at the productional partner’s facilities but legally owned and economically controlled by Sono Group. The remaining additions to equipment and hardware refer mainly to office equipment and are associated with an increase of employees’ number.

In the reporting period, Sono Group recognized an impairment of the advances paid in the amount of kEUR 1,965. The impairment loss of kEUR 1,965 included in the general and administrative expense relates to advance payments on assets intended for the tooling of batteries that had been recognized in 2020. Management has determined that, due to an unforeseen change in the specifications of the battery, resulting from a change in supplier, the assets that the advance payments referred to were no longer needed in the Group’s development of prototypes. As the Group does not expect to be able to reclaim the payments made under the contract with the supplier of the tools, the advance payments’ fair value (determined as the market value of reclaimable payments at level 1 of the fair value hierarchy) and recoverable amount are EUR 0. It cannot be ruled out that the supplier of the tool will still assert additional claims from this, but Sono Group considers a successful claim unlikely.

7.3

Right-of-use assets

Sono Motors leases buildings and warehouses at its headquarters in Munich and three electrical cars including batteries. At the end of the reporting period, the remaining lease terms for the buildings were 6 to 10 years and for the cars 2 to 3 years.

The below table presents details on the lease agreements of Sono Motors:

	Buildings		Cars		Total
	kEUR		kEUR		kEUR
Right-of-use assets on January 1, 2021		1,906		31		1,937
Additions to right-of-use assets		1,496		-		1,496
Depreciation of right-of-use assets		405		10		415
Right-of-use assets on December 31, 2021		2,997		21		3,018

Interest expense on lease liabilities		52		4		56
Expense relating to short-term leases		-		-		-
Total cash outflow for leases		423		12		435

	Buildings		Cars		Total
	kEUR		kEUR		kEUR
Right-of-use assets on January 1, 2020		2,211		24		2,235
Additions to right-of-use assets		-		15		15
Depreciation of right-of-use assets		305		8		313
Right-of-use assets on December 31, 2020		1,906		31		1,937

Interest expense on lease liabilities		35		4		39
Expense relating to short-term leases		-		-		-
Total cash outflow for leases		311		12		323

	Buildings		Cars		Total
	kEUR		kEUR		kEUR
Right-of-use assets on January 1, 2019		-		-		-
Additions to right-of-use assets		2,372		25		2,397
Depreciation of right-of-use assets		161		1		163
Right-of-use assets on December 31, 2019		2,211		24		2,235

Interest expense on lease liabilities		22		1		23
Expense relating to short-term leases		84		-		84
Total cash outflow for leases		271		5		276

The depreciation expenses for right-of-use assets amounting to kEUR 415 (2020: kEUR 313, 2019: kEUR 163) are included in research and development (kEUR 192, (2020: kEUR 144, 2019: kEUR 61) selling and distribution costs (kEUR 45, 2020r: kEUR 77, 2019: kEUR 56) and general and administrative expenses (kEUR 178, 2020: kEUR 92, 2019: kEUR 46). Interest expenses for lease agreements are presented as part of interest and other expenses.

At the end of the reporting period, Sono Group has lease commitments for short-term leases of kEUR 4 (previous year: kEUR -). At the end of both the reporting period and the prior fiscal year, there were no obligations from sale and lease back transactions or leasing of low-value assets. In the reporting period, expenses relating to variable lease payments not included in the measurement of lease liabilities amounted to kEUR 16.

The below table presents the maturity profiles of future lease payments:

kEUR

< 1 year

1 to 5 years

>5 years

Buildings

488

1,988

810

Cars

Total December 31, 2021

503

2,000

810

kEUR

< 1 year

1 to 5 years

>5 years

Buildings

311

1,302

421

Cars

Total December 31, 2020

323

1,326

421

The Group has entered several leasing agreements for buildings that offer an extension option. In all of these cases, Management has determined that the Group is reasonably certain to exercise the extension option. Therefore, the extension options were included in determining the carrying amounts of the lease liabilities and right-of-use assets for these buildings.

Sono Group does not act as a lessor or sublessor in any lease agreements.

7.4

Other noncurrent financial assets

Other noncurrent financial assets as of December 31, 2021 (kEUR 91; previous year: kEUR 41) consist solely of security deposits. For details on expected credit losses, please refer to note 8.1.2 Credit risk.

7.5

Other current financial assets

The below table displays information on financial instruments included in other current financial assets:

	Dec. 31, 2021		Dec. 31, 2020
	kEUR		kEUR

PayPal reserve		6,000		4,655
Receivables from crowdfunding and deposits		169		179
Debtors creditors		26		539
Current trade receivables		20		-
Current receivables (affiliated companies)		11		11
Other		7		20

Total		6,233		5,404

The PayPal reserve in 2021 relates to the reclassification of the specific reserve imposed by PayPal due to the crowdfunding campaign from cash to other current financial assets. In February 2022, the reserve amounting to kEUR 5,900 was released and transferred to the current bank account of Sono Group. Sono Group expects a repayment of the remaining kEUR 100 within 12 months after the balance sheet date. Therefore, the PayPal reserve is classified as current.

7.6

Other current non-financial assets

Other current non-financial assets as of December 31, 2021 (kEUR 3,236; previous year: kEUR 579) mainly consist of receivables for VAT and other taxes (kEUR 2,069, previous year: kEUR 257) and prepaid expenses mainly for software (kEUR 669, previous year: kEUR 256).

7.7

Cash and cash equivalents

Cash and cash equivalents include the following amounts:

	Dec. 31, 2021			Dec. 31, 2020
	kEUR			kEUR

Bank balances		132,947			43,266
Allowance for expected credit losses		(8	)		(2	)
Total		132,939			43,264

For details on expected credit losses, please refer to note 8.1.2 Credit risk.

7.8

Equity

Total equity of Sono Group comprises subscribed capital, capital reserves, other reserves and accumulated deficit. The subscribed capital amounts to kEUR 8,735 (previous year: kEUR 6,468) and represents 73,577,641 (previous year: 35,803,197) fully paid-in member shares with a par value of EUR 0.06 (ordinary shares, previous year: EUR 0.06) and EUR 1.50 (high voting shares, previous year: EUR 1.50). Capital reserves include any amounts paid in by the owners that exceed the member shares’ par value. Other reserves include mainly effects from equity-settled stock-option. Accumulated deficit consists of losses from prior periods.

In the reporting year, the following events with regard to equity took place:

During the first half of fiscal year 2021, an amount of 68,136 new ordinary shares have been issued to two new investors.

At the general meeting on November 8, 2021, the shareholders of Sono Group agreed to a resolution to issue bonus shares according to which all shareholders of Sono Group received an additional amount of 0.71 ordinary shares with a par value of EUR 0.06 for each share they held at the time, regardless of their voting rights, financed by deducting the nominal amount from capital reserves (in total: 25,468,644 ordinary shares). The stock options from the "Conversion Stock Option Program 2020" were increased in the same proportion. In line with this resolution, the issue of bonus shares was implemented immediately prior to the execution of the Underwriting Agreement related to the IPO between Sono Group and Berenberg Capital Markets LLC and Craig-Hallum Capital Group LLC as underwriters.

Moreover, the shareholders agreed to extend the authorization of Sono Motors’ Management Board to issue shares in the Company's capital (irrespective of the class concerned) and/or to grant rights to subscribe for those shares up to the authorized share capital as included in the Company's articles of association from time to time and to limit and/or exclude pre-emption rights in relation thereto for a period of another five years after the execution of the underwriting agreement. The authorized share capital amounts to kEUR 25,200,000 (320,000,000 ordinary shares with a par value of EUR 0.06 and 4,000,000 high-voting shares with a par value of EUR 1.50). The shareholders also agreed to extend the resolution for the Company to acquire fully paid-up shares (irrespective of the class concerned) and/or depository receipts for those shares for another 18 months after the execution of the underwriting agreement. The underwriting agreement was executed on November 16, 2021.

In the IPO on November 17, 2021, Sono Group offered 10,000,000 ordinary shares with a par value of EUR 0.06 at a price of USD 15.00 each. The underwriters had an additional greenshoe option to 1,500,000 ordinary shares with a par value of EUR 0.06 at a price of USD 13.95 each. All offered shares were sold and the underwriters exercised their greenshoe option. In total, Sono Group raised kUSD 160,425 (kEUR 142,334) through the IPO, after underwriting discounts and commissions. In accordance with IAS 32, further transaction costs of the IPO were recognized directly in equity as a deduction from capital reserves. The total amount of IPO-related transactions costs deducted from capital reserves is kEUR 2,825. The recognition of transaction costs included an amount of kEUR 135 that was directly attributable to the planned IPO and therefore had been deferred in a separate line item in fiscal year 2020.

Upon the IPO, the mandatory convertible notes issued in 2020 (carrying amount: kEUR 9,661) were fully converted into equity. The investors of the mandatory convertible notes received a total of 737,664 ordinary shares with a par value of EUR 0.06 per share. For further details on the mandatory convertible notes, see note 7.10.1 Financial liabilities overview.

The settlement payment conditional to one of the owners of Sono N.V. was due upon completion of the IPO. The corresponding liability was debited to other reserves (please refer to note 7.10.1 Financial liabilities overview).

Regarding changes in equity due to share-based compensation see note 9.3 Remuneration based on shares (share-based payment).

In the previous year, the following events with regard to equity took place:

At the general meeting on November 25, 2020, the owners agreed to a capital increase against contribution in cash in the nominal amount and part of the loan claims (settlement agreement, see note 7.10.2 Other noncurrent financial liabilities) as contribution in kind at the level of Sono N.V.

For the reorganization of the structure of Sono Motors and Sono N.V. we refer to note 1 General information. In the course of the reorganization, a split of the shares (30,588,000, par value ordinary shares of EUR 0.06) and a conversion of high voting shares (3,000,000, par value high voting shares of EUR 1.50) has taken place, including an increase in share capital of kEUR 1,835 and kEUR 4,500 as well as an offsetting effect in the capital reserve (kEUR -1,835 and kEUR -4,500).

The capital increase resulting from the settlement agreement and the issuance of new shares (480,000 and 1,735,197 new shares, respectively) as well as the modification of the original liability amounting to kEUR 1,427 and kEUR 38,200 on December 10, 2020 (closing date of issuance of new shares) resulted in an increase in subscribed capital of kEUR 133 and a corresponding increase in capital reserves of kEUR 37,302, net of tax after deducting transaction costs of kEUR 2,192. Management of Sono N.V. has determined that transaction costs of kEUR 135, which were directly attributable to the planned IPO in 2021, were to be deferred in a separate line item and not deducted from equity at the time. The deferral was derecognized at time of the IPO in November 2021. For the settlement agreement please see note 7.10.2 Other noncurrent financial liabilities.

For the increase in the other reserves (kEUR 32,160) due to the new equity-settled employee participation program (Conversion Stock Option Program or CSOP), please see note 4.11 Share-based payment and 9.3 Remuneration based on shares (share-based payment).

Under Dutch law, Sono Group’s authorized shared capital is the maximum capital that can be issued without amending the articles of association. As of December 31, 2020, the authorized shared capital amounts to kEUR 25,200 representing 320,000 ordinary shares and 4,000,000 high voting shares. The high voting shares carry the same economic rights entitlements as the ordinary shares and only carry different voting rights.

7.9

Advance payments received from customers

	Dec. 31, 2021		Dec. 31, 2020
	kEUR		kEUR

Advance payments received from customers		44,756		38,972
		44,756		38,972

Depending on the general terms and conditions, in some cases, a cancellation by the customer is possible in less than twelve months. Customers may provide their advance payments in several installments, the latest of which determines the applicable cancellation policy. As of December 31, 2021, for customers who made their latest installment on or before November 25, 2020, cancellation is possible at any time. For customers who made their latest installment later than November 25, 2020, but before November 3, 2021, cancellation is possible on July 1, 2023, or later. For customers who made their latest installment on or after November 3, 2021, cancellation is possible on January 1, 2024, or later. Deviating from these conditions, in November 2020, Sono Group approached all German-speaking customers that had made their latest installment during the crowdfunding campaign from December 1, 2019, until and including January 20, 2020, and asked them to accept a change in the terms and conditions to waive their cancellation right until December 31, 2022. In effect, those customers who accepted the change may cancel their advance payment on January 1, 2023, or later.

As of December 31, 2021, currently 28% are cancelable, 58% will be cancelable from January 1, 2023, 13% will be cancelable from July 1, 2023, and 1% will be cancelable from January 1, 2024. The percentages calculated are based on the nominal values of the advance payments excluding IFRS adjustments (interest effect).

As of December 31, 2020, 11% were cancelable at the time, 1% was cancelable from January 1, 2021, 21% was cancelable from January 1, 2022, 66% was cancelable from January 1, 2023, and 1% was cancelable from July 1, 2023.

Sono Group expects to begin recognizing revenue from the sale of the car in the second half of 2023 after expected start of production.

The table below shows the changes in the advance payments received from customers:

	Balance as of		Additions		Repayment			Net interest		Balance as of
	Jan. 1, 2021									Dec. 31, 2021
	KEUR		kEUR		kEUR			kEUR		kEUR

Advance payments received from customers		38,972		5,198		(912	)		1,498		44,756
		38,972		5,198		(912	)		1,498		44,756

	Balance as of		Additions		Repayment			Net interest		Balance as of
	Jan. 1, 2020									Dec. 31, 2020
	KEUR		kEUR		kEUR			kEUR		kEUR

Advance payments received from customers		11,164		30,565		(4,117	)		1,360		38,972
		11,164		30,565		(4,117	)		1,360		38,972

7.10

Financial liabilities

7.10.1

Financial liabilities overview

The below table shows the changes in loans and participation rights:

Nominal amounts	Loan 1			Loan 2			Loan 3*			Subordinated loans (crowd-funding)			Manda-tory con-vertible Notes			Participation rights			Total
	kEUR			kEUR			kEUR			kEUR			kEUR			kEUR			kEUR
Jan. 1, 2020**		-			295			2,590			1,967			-			1,383			6,235
Addition		1,225			-			-			2,795			6,800			-			10,820
Accrued interest		46			12			277			101			-			-			435
Repayment		-			(107	)		(1,219	)		(1,731	)		-			-			(3,058	)
Conversion to equity		-			-			(1,648	)		-			-			-			(1,648	)
Dec. 31, 2020		1,271			200			-			3,131			6,800			1,383			12,784
Addition		-			-			-			-			-			-			-
Accrued interest		50			-			-			174			-			52			276
Repayment		(36	)		(200	)		-			(805	)		-			(1,435	)		(2,475	)
Conversion to equity		-			-			-			-			(6,800	)		-			(6,800	)
Dec. 31, 2021		1,285			-			-			2,500			-			-			3,785

*	Shareholder transaction in 2020

**	including nominal interest accrued in previous periods if applicable

Carrying amounts	Loan 1		Loan 2			Loan 3*			Subordinated loans (crowd-funding)			Manda-tory convertible Notes			Participation rights			Total
	kEUR		kEUR			kEUR			kEUR			kEUR			kEUR			kEUR

Jan. 1, 2020		-		295			2,583			2,026			-			1,346			6,250
Initial recognition		1,225		-			-			2,714			6,800			-			10,739
Subsequent measurement		46		12			284			53			59			28			482
Derecognition		-		(107	)		(1,219	)		(1,731	)		-			-			(3,058	)
Conversion to equity		-		-			(1,648	)		-			-			-			(1,648	)
Dec. 31, 2020		1,271		200			-			3,062			6,859			1,374			12,766
Initial recognition		-		-			-			-			-			-			-
Subsequent measurement		14		-			-			58			2,802			62			2,936
Derecognition		-		(200	)		-			(655	)		-			(1,436	)		(2,291	)
Conversion to equity		-		-			-			-			(9,661	)		-			(9,661	)
Dec. 31, 2021		1,285		-			-			2,465			-			-			3,750

*	Shareholder transaction in 2020

Loan 1

Loan 1 consists of nine individual loans with an aggregate nominal value of kEUR 1,225, and interest rate of 4% p.a. and a maturity in December 2023. For six of these loans, Sono Group agreed with the lender to accrue interest until the end of the term of the liability without compounding instead of paying out interest each year.

Loan 2

Loan 2 included two loans with a nominal value of kEUR 185 and kEUR 100, respectively, and an annual interest rate of 4% p.a. each. These loans were repayable including interest at maturity in December 2020. The loan with the nominal amount of kEUR 185 had not been repaid as of December 31, 2020, but was paid back on January 5, 2021.

Loan 3 (including settlement agreement)

Loan 3 included a loan with a contractual two-year term with an interest rate of 12% p.a. and a total nominal value of kEUR 2,500. Following a settlement agreement in November 2020, part of the loan was paid back to the capital providers, while the remaining amount was converted into ordinary shares of Sono N.V. for an additional cash payment of kEUR 29. In addition, Sono N.V. agreed to pay one of the capital providers a total amount of kEUR 250 in five equal monthly installments starting in December 2020 and one lump sum payment of kEUR 250 after a successful IPO of Sono N.V. This modification of the original liability resulted in derecognition of the unpaid liability and a recognition of a new liability for the five installments. The effect of the modification was recorded in equity as it resulted from the relationship with a shareholder. The total amount recognized in equity due to the settlement agreement was kEUR 1,427. The IPO in November 2021 triggered the second settlement payment. As of the reporting date, the payment has not been made. The outstanding amount (kEUR 250) is presented in trade and other payables as the outstanding amount for the first payment (kEUR 200) in the previous year (see note 7.11 Trade and other payables).

Subordinated loans (crowdfunding)

The crowdfunding loans consisted of several crowdfunding loans with interest rates of 6% p.a. and different terms, varying between less than one year and up to 4 years. The issuing period ended in December 2020.

Mandatory convertible notes

In December 2020, Sono Group issued mandatory convertible notes with a nominal value of kEUR 6,800. According to the contract, conversion was mandatory upon the occurrence of certain events, including, an IPO of Sono Group. Upon the successful IPO in November 2021, these notes (carrying amount: kEUR 9,661) were fully converted into equity (for details on the IPO, please refer to note 1 General information and note 7.8 Equity). The investors of the mandatory convertible notes received a total of 737,664 ordinary shares with a par value of EUR 0.06 per share. The par value of the shares (kEUR 44) was recognized in subscribed capital, while the remainder (kEUR 9,617) was recognized in capital reserves.. Accordingly, the financial liability relating to the notes was derecognized.

Participation rights

Between October 2018 and November 2019, Sono Motors issued participation rights with a total face value of kEUR 1,383 that bore a fixed interest rate of 3.5% p.a., plus a one-time bonus payment at maturity of 0.52% p.a. of the face value for each 1,000 cars reserved by potential customers between October 18, 2018 and December 31, 2019. More than 2,000 reservations were made during that period; as of December 31, 2020, the carrying amount of the liability includes the one-time bonus payment. The participation rights including the bonus payment were repaid in full in the reporting period.

7.10.2

Other noncurrent financial liabilities

The below table displays details on items included in other noncurrent financial liabilities:

	Dec. 31, 2021		Dec. 31, 2020
	kEUR		kEUR

Loans and participation rights		3,718		3,665
Lease liabilities		2,635		1,669
		6,353		5,335

For further details regarding the conditions of the other noncurrent financial liabilities, we refer to note 7.10.1 Financial liabilities overview.

7.10.3

Current financial liabilities

The below table displays details on items included in current financial liabilities:

	Dec. 31, 2021		Dec. 31, 2020
	kEUR		kEUR

Current other financial liabilities
Loans and participation rights		31		2,240
Mandatory convertible notes		-		6,859
Lease liabilities		441		289
		472		9,388

For further details regarding the conditions of the other financial liabilities, we refer to note 7.10.1 Financial liabilities overview.

7.11

Trade and other payables

The below table displays details on items included in trade and other payables:

	Dec. 31, 2021		Dec. 31, 2020
	kEUR		kEUR

Trade payables		6,866		2,642
Other payables		715		232
		7,582		2,874

Trade payables refer to purchased goods, assets and services. Other payables mainly refer to outstanding short-term employee benefits (kEUR 383) and second payment resulting from a settlement agreement (kEUR 250). In the previous year, other payables mainly related to the first payment resulting from the settlement agreement (kEUR 200). Please refer to note 7.10.2 Other noncurrent financial liabilities and note 7.8 Equity, respectively.

7.12

Current other liabilities

The below table displays details on items included in other current liabilities:

	Dec. 31, 2021		Dec. 31, 2020
	kEUR		kEUR

Accruals and deferrals		2,011		1,463
Employee tax liabilities (wage and church tax)		372		146
Tax liabilities (VAT taxes and interest)		109		80
		2,492		1,689

Accruals and deferrals as of December 31, 2021 contain mainly accrued vacation payments to employees (kEUR 857), accrued expenses for pending invoices (kEUR 751) and accruals of kEUR 144 (previous year: kEUR 65) for statutory levies.

7.13

Provisions

The table below presents information on the movements and carrying amounts of provisions over the course of the reporting period.

	Balance as of		Usage			Reversals		Additions		Balance as of
	Jan. 1, 2021									Dec. 31, 2021
	KEUR		kEUR			kEUR		kEUR		kEUR

Other provisions		-		-			-		65		65
Personnel costs		-		-			-		-		-
Financial statements		111		(111	)		-		2,137		2,137
		111		(111	)		-		2,202		2,202

	Balance as of		Usage			Reversals		Additions		Balance as of
	Jan. 1, 2020									Dec. 31, 2020
	KEUR		kEUR			kEUR		kEUR		kEUR

Other provisions		-		-			-		-		-
Personnel costs		584		(584	)		-		-		-
Financial statements		52		(46	)		-		105		111
		636		(630	)		-		105		111

Provisions for financial statements include audit fees and advisory services for the preparation of financial statements in accordance with Form 20-F.

In the reporting period, Sono Group cancelled a supplier contract related to the delivery of assets intended for the tooling of batteries, for which advance payments had been recognized in 2020. It cannot be ruled out that the supplier of the tool will still assert additional claims from this, but Sono Group considers a successful claim unlikely. For further details, please refer to note 7.2 Property, plant and equipment.

Note 8 - Disclosure of Financial Instruments and Risk Management

12 Months Ended

Dec. 31, 2021

Disclosure of financial instruments [text block]

8	Disclosure of financial instruments and risk management

8.1

Type and management of financial risks

8.1.1

General information

Sono Group is exposed to certain financial risks with respect to its financial assets and liabilities and the transactions associated with its business model. These risks generally relate to credit risks, liquidity risks and market risks (especially interest rate risk and foreign exchange rate risk).

The aim of risk management is to limit the potential negative impact on expected cash flows and take advantage of any opportunities that arise.

8.1.2

Credit risk

Credit risk is managed by Sono Group’s finance department. Credit risk arises from cash and cash equivalents and other financial assets. To limit credit risk, cash deposits and investments are placed only with reputable financial institutions, based on a qualitative assessment by Sono Group’s finance department under consideration of the creditworthiness of the financial institutions. Consequently, the risk of default is considered to be low.

For the reporting year and the previous year, there were no significant increases in credit risks for financial assets (no transfer from Stage 1 to Stage 2). Therefore, the loss allowance for all financial assets is measured at an amount equal to 12-month ECL (Stage 1). 12-month ECL is determined using external credit ratings as well as external recovery rates.

The table below reconciles the opening and ending balance for loss allowances for other current and noncurrent financial assets as well as cash and cash equivalents as of December 31:

	Total
	kEUR

Opening loss allowance as at January 1, 2020		-
Additions recognized in profit or loss during the period		6
Utilization		-
Closing loss allowance as at December 31, 2020		6

Opening loss allowance as at January 1, 2021		6
Additions recognized in profit or loss during the period		6
Utilization		(2	)
Closing loss allowance as at December 31, 2021		10

The main driver of the increase in the loss allowance was the increase in exposure to credit risk for bank balances.

The table below displays the gross carrying amount of other current and noncurrent financial assets as well as cash and cash equivalents by credit risk rating grades.

	Credit risk rating grade	Gross carrying amount (12m ECL)
		kEUR

December 31, 2020	Risk class 1		48,715
December 31, 2021	Risk class 1		139,273

8.1.3

Liquidity risk

Liquidity risk is the risk that Sono Group will encounter difficulty in meeting its obligations associated with financial liabilities that are settled by delivering cash or another financial asset. Sono Group mainly relies on equity financing from shareholders and private investors and participation rights. Although the IPO proceeds have served to increase the Group’s level of liquidity in 2021, lack of additional external financial support and any reclaims of the advance payments received from customers could expose Sono Motors to a risk of going concern. The ability to obtain further financing is highly dependent on further progress in the development of Sono Motors’ core product and successful communication to potential external investors. Reclaims of the advance payments received from customers are possible because, according to the applicable terms and conditions, customers can choose between reclaiming their advance payment or purchasing the vehicle at the time Sono Motors offers a purchase contract for the vehicle. Based on the specific terms of the agreement between Sono Motors and the customer, some customers may also reclaim their advance payments earlier. For details on advance payments received, please refer to note 7.9 Advance payments received from customers.

As of the reporting date, Management concludes that Sono Group’s liquidity risk is high. Despite the successful IPO in November 2021, there are substantial uncertainties related to events or conditions regarding Sono Group’s ability to obtain future financing that cast significant doubt upon the Group’s ability to continue as a going concern (see note 4.13.1 Going concern for further details). Therefore, Sono Group’s liquidity management focuses on the availability of cash and cash equivalents for operational activities and further investments by means of timely and thorough budget planning and appropriate reactions to expected cash restrictions.

Sono Group has established an appropriate approach to managing short-, medium- and long-term financing and liquidity requirements. It manages liquidity risks by holding appropriate reserves, as well as by monitoring forecasted and actual cash flows. To monitor the availability of liquidity, cash flow forecasts are developed on a regular basis. Based on these cash flow forecasts, a run rate, which displays the period Sono Motors is able to carry on its current operations without additional financing, is determined. As a safeguard for legal risks associated with liquidity issues, external legal advice has been sought in order to comply with German insolvency laws.

The table below summarizes the maturity profile of Sono Group’s financial liabilities based on contractual undiscounted payments:

	Carrying amount		< 1 year		1 to 5 years		>5 years
	kEUR		kEUR		kEUR		kEUR

Trade and other payables		7,582		7,582		-		-
Loans and participation rights		3,749		186		4,134		-
Lease liabilities		3,076		503		2,000		810
Mandatory convertible notes		-		-		-		-
Total December 31, 2021		14,407		8,271		6,134		810

	Carrying amount		< 1 year		1 to 5 years		>5 years
	kEUR		kEUR		kEUR		kEUR

Trade and other payables		2,874		2,874		-		-
Loans and participation rights		5,905		2,489		4,260		-
Mandatory convertible notes		6,859		9,286		-		-
Lease liabilities		1,958		323		1,326		421
Total December 31, 2020		17,596		14,972		5,586		421

8.1.4

Interest rate risk

Interest rate risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in market interest rates. Sono Group’s exposure to the risk of changes in market interest rates relates primarily to cash and cash equivalents, as financial liabilities bear no or fixed interest rates. Due to persistently low interest rates, Sono Group is exposed to the risk of being charged negative interest rates on its bank deposits at a fixed interest rate. In the reporting period, negative interest charges amount to kEUR 156 (2020: kEUR 49; 2019: kEUR -).

8.1.5

Currency risk

Currency risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in foreign exchange rates. The Group’s exposure to currency risk relates to the amount of cash received in the IPO and trade payables in a currency other than the functional currency of the Group, although supplier contracts have short payment terms. Management manages currency risk by closely monitoring account balances in foreign currencies and exchange rates to assess the exposure to currency risk on an ongoing basis and reacting accordingly if necessary.

At the end of the reporting period, Sono Group had the following amounts of cash in foreign currencies.

Cash	December 31, 2021				December 31, 2020
	k units		kEUR		k units		kEUR
USD		30,425		26,877		-		-
				26,877		-		-

At the end of the reporting period, Sono Group had the following trade payables in foreign currencies.

Trade payables	December 31, 2021				December 31, 2020
	k units		kEUR		k units		kEUR
CNY		6,616		916		-		-
USD		144		127		-		-
SEK		120		12		-		-
GBP		1		2		-		-
				1,057		-		-

At the end of the reporting period and of the previous year, Sono Group had no trade and other receivables in foreign currencies. There were no hedging relationships at the end of the respective periods.

Based on the respective exchange rates at the end of the reporting period, a hypothetical appreciation of the EUR compared to the foreign currencies of 10 percent would have resulted in the following effect on consolidated profit before taxes and equity.

EUR appreciation of 10 %	December 31, 2021			December 31, 2020
	kEUR			kEUR
USD		(2,432	)		-
CNY		83			-
SEK		1			-
GBP		-			-
		(2,348	)		-

Based on the respective exchange rates at the end of the reporting period, a hypothetical depreciation of the EUR compared to the foreign currencies of 10 percent would have resulted in the following effect on consolidated profit before taxes and equity.

EUR depreciation of 10 %	December 31, 2021			December 31, 2020
	kEUR			kEUR
USD		2,972			-
CNY		(102	)		-
SEK		(1	)		-
GBP		-			-
		2,869			-

8.2

Capital management

For the purpose of Sono Group’s capital management, capital includes share capital and all other equity reserves attributable to equity holders. The total amount of capital in the reporting year was kEUR 83,439 (previous year: kEUR -5,026). The primary objective of Sono Group’s capital management is to maximize shareholder value through investment in its development activities.

Based on the current stage of the business cycle of Sono Motors’ products, the electric vehicle Sion, the Sono Digital App and Sono Solar, the Group relies almost exclusively on external financing until the start of production.

For information on the capital raised in 2021, please refer to Note 7.8 Equity.

8.3

Additional information on financial instruments

8.3.1

Offsetting of financial assets and liabilities

Sono Motors neither applies offsetting in the balance sheet nor has any instruments that are subject to a legally enforceable master netting arrangement or a similar agreement.

8.3.2

Carrying amounts and fair values

The table below displays information on fair value measurements, carrying amounts and categorization of financial instruments of Sono Group.

December 31, 2021

kEUR

carrying amount

category
(IFRS 9)

fair value

fair value
level

Noncurrent financial assets

Other financial assets

Security deposits

Current financial assets

Other financial assets

Paypal reserve

6,000

n/a*

n/a

Receivables from crowdfunding and deposits

169

n/a*

n/a

Debtor creditors

n/a*

n/a

Current trade receivables

n/a*

n/a

Current trade receivables (affiliated companies)

n/a*

n/a

Other

n/a*

n/a

Cash and cash equivalents

132,939

n/a*

n/a

Noncurrent financial liabilities

Financial liabilities

Loans and participation rights

3,718

FLAC

3,466

Lease liabilities

2,635

Current financial liabilities

Financial liabilities

Loans and participation rights

FLAC

n/a*

n/a

Lease liabilities

441

Mandatory convertible notes

FVTPL

Trade and other payables

7,582

FLAC

n/a*

n/a

*	The carrying amount approximately equals the fair value, thus no separate fair value disclosure is needed according to IFRS 7.29

December 31, 2020

kEUR

carrying amount

category
(IFRS 9)

fair value

fair value
level

Noncurrent financial assets

Other financial assets

Deposits

Current financial assets

Other financial assets

PayPal reserves

4,655

n/a*

n/a

Debtor creditors

539

n/a*

n/a

Receivables from crowdfunding and deposits

179

n/a*

n/a

Other

n/a*

n/a

Cash and cash equivalents

43,264

n/a*

n/a

Noncurrent financial liabilities

Financial liabilities

Loans and participation rights

3,665

FLAC

3,308

Lease liabilities

1,669

Current financial liabilities

Financial liabilities

Loans and participation rights

2,240

FLAC

n/a*

n/a

Lease liabilities

289

Mandatory convertible notes

6,859

FVTPL

6,859

Trade and other payables

2,874

FLAC

n/a*

n/a

*	The carrying amount approximately equals the fair value, thus no separate fair value disclosure is needed according to IFRS 7.29

The carrying amounts of each of the categories listed above as defined according to IFRS 9 as of the reporting dates were as follows:

	Dec. 31, 2021		Dec. 31, 2020
	kEUR		kEUR

Financial assets measured at amortized cost (AC)		139,263		48,709
Financial liabilities measured at amortized cost (FLAC)		11,331		8,779
Financial liabilities measured at fair value through profit or loss (FVTPL)		-		6,859

All financial assets and liabilities for which the fair value is measured or disclosed in the consolidated financial statements are categorized according to the fair value hierarchy, described as follows, based on the lowest level input that is significant to the fair value measurement as a whole:

•

Level 1 — Inputs use quoted prices in active markets for identical assets or liabilities

•

Level 2 — Inputs are inputs, other than quoted prices included in Level 1, which are directly or indirectly observable

•

Level 3 — Inputs are unobservable and have values estimated by management based on market participant assumptions which are reasonably available

Due to their short-term nature, the carrying amounts of the cash and cash equivalents and other current financial assets and liabilities approximate their fair value. The fair value of noncurrent financial assets and liabilities is determined by applying the discounted cash flow method (valuation technique). In doing so, future cash flows resulting from the financial asset or liability are discounted using an interest rate derived from an estimated credit rating. In case of noncurrent financial assets, the counterparties are reputable financial institutions, thus credit risk has no significant influence on fair value, which leads to a classification as level 2 fair value.

At the end of fiscal year 2021, Management has determined that the fair values of noncurrent financial liabilities at amortized cost are classified as level 3 as the credit rating is a non-observable input factor with significant influence on the fair value.

At the end of fiscal year 2021, there were no financial liabilities at fair value through profit or loss. In the previous year, management determined that the fair values of financial liabilities at fair value through profit or loss, which consisted solely of mandatory convertible notes, were classified as level 3 as the assumptions for future payouts were non-observable input factors with significant influence on the fair value.

The finance department of Sono Group performs valuations including level 3 fair value measurements. In the reporting period, level 3 fair value measurements only relate to the mandatory convertible notes. Discussions of valuation processes and results are held between the CFO and the valuation team as well as external consultants.

The main level 3 inputs used by the Group are derived and evaluated as follows:

•

Discount rates for financial liabilities reflect current market assessments of the time value of money and the risk specific to the liabilities.

•

Expected cash outflows are estimated based on contractual terms and the Management’s knowledge of probabilities of possible contractual payouts.

The following table summarizes the quantitative information about significant unobservable inputs used in level 3 fair value measurement:

Description

Fair value at

Unobservable input

Range of inputs
(most likely outcome)

Relationship of unobservable inputs to fair value

Dec. 31,
2021

Dec. 31,
2020

Dec. 31,
2021

kEUR

Mandatory convertible notes

6,859

n/a

Description

Fair value at

Unobservable input

Range of inputs
(most likely outcome)

Relationship of unobservable inputs to fair value

Dec. 31,
2020

Dec. 31,
2019

Dec. 31,
2020

kEUR

Mandatory convertible notes

6,859

Probability of an 'exit event' in the second quarter of 2021

50 %

100%

An increase of the probability to 100 % would increase FV by kEUR 2,170.

(75%)

A decrease of the probability to 50 % would decrease FV by kEUR - 2,170.

The following table presents the changes in level 3 fair values relating to the mandatory convertible notes for the period ended December 31, 2021 and December 31, 2020:

	Dec. 31, 2021			Dec. 31, 2020
	kEUR			kEUR

Balance at beginning of year		6,859			-
New transactions		-			6,800
Amount presented in other comprehensive income (OCI)		(16	)		21
Amount presented in profit or loss (interest and other expenses)		2,818			38
Payment for fractional shares		-			-
Conversion to equity		(9,661	)		-
Transfer from OCI to accumulated deficit					-
Other comprehensive income		(5	)		-
Accumulated deficit		5			-
Balance at end of year		-			6,859

For the mandatory convertible notes, the cumulative change in the fair value of the financial liability that is attributable to changes in the credit risk of that liability is kEUR 16 (2020: kEUR -21; 2019: kEUR -). The difference between the financial liability’s carrying amount and the amount Sono Group would be contractually required to pay at maturity is kEUR - (previous year: kEUR 1,662).

8.3.3

Income and expenses

Total interest income and total interest expense are calculated by applying the EIR method to the gross carrying amount of financial assets and liabilities measured at amortized cost. Total interest income and expenses were as follows:

	2021		2020		2019
	kEUR		kEUR		kEUR

Total interest expense for financial assets at amortized cost		156		43		1
Total interest expense for financial liabilities at amortized cost		319		560		287

The presented total interest expense for financial assets at amortized cost is included in other general and administrative expenses as it results from negative interest charges.

The table below shows the net gains or losses of financial instruments by measurement categories:

	2021		2020		2019
	kEUR		kEUR		kEUR

Net loss for financial assets at amortized cost		162		49		1
Net loss for financial liabilities at amortized cost		319		560		287
Net loss for financial liabilities at fair value through profit or loss		2,802		59		-

Net losses for financial assets at amortized cost include changes in the loss allowance as well as losses from interest expenses due to negative interest charges. Net losses for financial liabilities at amortized cost include interest expenses.

Net losses for financial liabilities at fair value through profit or loss include changes in the fair value measurement of mandatory convertible notes, including fair value changes due to own credit risk.

Note 9 - Other Disclosures

12 Months Ended

Dec. 31, 2021

Disclosure of other disclosures [text block]

9	Other disclosures

9.1

Defined contribution plans (government-run pension plans)

Sono Motors makes payments under defined contributions plans, related to government-run pension plans. In the financial year 2021, the total expense recognized amounted to kEUR 1,047 (2020: kEUR 491; 2019: kEUR 329).

9.2

Government grants

In fiscal year 2021, other operating income includes an amount of kEUR 71 (2020: kEUR 68; 2019: kEUR 15) related to a grant that Sono Motors received from the EU to promote the development of open-source hardware as part of the “OPEN_NEXT” project. There are no unfulfilled conditions or other contingencies attached to these grants. Sono Motors did not benefit from any other forms of government assistance.

The “OPEN_NEXT” grant is divided into pre-financing, interim and a final payment. The pre-financing amounts to kEUR 136 and was received by Sono Motors in two installments paid out in 2019 and 2020, each payment amounting to kEUR 68. The grant has the purpose to reimburse Sono Motors for direct personnel costs, direct costs of subcontracting, other direct costs and indirect costs in relation to the development of open-source hardware in the form of company-community collaborations. The payments are deferred and recognized in profit and loss over a period of 18 months each to match them with the costs that they are intended to reimburse. In 2021, one interim grant payment of kEUR 18 was received and recognized in other operating income. The final payment amount depends on the total cost incurred by Sono Motors and will be received in 2023. Due to its inherent uncertainty, it was not recognized in the Group’s consolidated financial statements.

9.3

Remuneration based on shares (share-based payment)

9.3.1

Staff members and managers

In the first half of 2018, management of Sono Motors has set up two similar employee participation programs for staff members and selected managers. The employee participation programs are based on virtual shares. The virtual share of each employee is determined based on a point system (staff members) respectively a percentage defined in the employment contract (manager). The program provides remuneration in form of the right to participate in Sono Motors’ exit proceeds. The remuneration for managers is subject to the fulfillment of specific vesting conditions. In both programs, which have no time limit regarding the ‘exit-event’, the right to receive a remuneration based on the exit proceeds is achieved if 95 % of the shares of Sono Motors are sold and transferred to a new owner or all material assets of Sono Motors (particularly patents) are sold to a third party. Both employee participation programs are accounted for as cash-settled share-based transactions. However, no expense and liability has been recognized because an ‘exit-event’ and consequently a payment was not probable as of December 31, 2020.

In December 2020, Management has offered all participants of the existing employee participation program as well as five additional staff members (one active and four former staff members) to transfer or join the new employee participation program (Conversion Stock Option Program or CSOP), which is equity-settled. Therefore, all participants were asked to leave the current employee participation program by signing a cancellation agreement and to join the new program. As of December 31, 2020, 88 employees, including all management-level employees, have signed the CSOP. All participants of the employee participants program for managers have been transferred to the CSOP by December 31, 2020. Consequently, the employee participants program for managers was obsolete as of December 31, 2020.

The table below shows the current status of the number of employees as of December 31, 2021:

	Cash-settled program		Equity-settled program


Staff members		1		85
Managers		-		3
		1		88

In November 2021, Sono Group successfully completed an IPO and is now listed on the Nasdaq Stock Market.

No expense and liability have been recognized for the one participant remaining in the cash-settled program because management does not consider an IPO an ‘exit-event’ in accordance with the cash-settled employee participation program and consequently does not consider a payment to the remaining participant probable as of December 31, 2021.

Management has determined that an IPO would constitute an ‘exit-event’ according to the CSOP.

For all staff members as well as one manager in the CSOP, all granted share options are fully vested as of December 31, 2021 (also fully vested as of December 31, 2020). They become exercisable one year after an ‘exit-event’. All unexercised share options expire four years after an ‘exit-event’. The weighted average remaining contractual life for the CSOP as of December 31, 2021 is 3.9 years.

Two managers in the CSOP have a vesting period of 36 months (service condition) for their granted share options, beginning at a contractually set date. If the employment of the managers with Sono Motors GmbH, Munich, Germany, ends during the vesting period, a pro rata exercisability of the share options might be granted, depending on contractually agreed good or bad leaver scenarios. After the vesting period all granted share options become exercisable. Other than that, there are no vesting conditions.

Sono N.V. initially measures the fair value of the received services by reference to the fair value of the equity instruments (share options) granted and the number of share options contractually agreed on with each participant. Sono N.V. recognizes the fair value of the services as expenses and a corresponding increase in equity when the services are received. If Sono N.V. and the participant did not agree on service conditions (86 participants) and the participant is unconditionally entitled to the share options, Sono N.V. presumes, that the services have been received on grant date and recognizes the services received in full, with a corresponding increase in equity. If Sono N.V. and the participant did agree on service conditions (two participants), Sono N.V. accounts for the services as they are rendered by the participant during the vesting period, with a corresponding increase in equity.

The following table illustrates the volume of the program, the weighted average fair value at grant date as well as the total expense of the period and the corresponding increase in equity:

December 31, 2021

Number of options granted			1,805,100
Weighted average fair value at grant date (EUR)			19.26
Expense of the period (kEUR)			1,898
Increase in equity (kEUR)			1,898

December 31, 2020

Number of options granted			1,805,100
Weighted average fair value at grant date (EUR)			19.26
Expense of the period (kEUR)			32,160
Increase in equity (kEUR)			32,160

The following table illustrates the number of, and movements in, share options during the year:

2021

January 1, 2021			1,805,100
Granted			-
Forfeited			-
December 31, 2021			1,805,100

2020

January 1, 2020			-
Granted			1,805,100
Forfeited			-
December 31, 2020			1,805,100

The exercise price of all share options will be EUR 0.06.

The fair value of the share options for the equity-settled share-based transactions is measured using Black-Scholes Model and the following inputs:

Input factor

Weighted average share price (EUR)	22.01
Exercise price (EUR)	0.06
Expected volatility	75	%
Option life (yrs.)	1.29
Expected dividends (EUR)	0.00
Risk-free interest rate	(0.73	)%
Lack of marketability discount	14.39	%

The expected life of the share options is based on current expectations and is not necessarily indicative of exercise patterns that may occur. The expected volatility was based on an evaluation of historical volatilities of comparable listed peer group companies. The expected volatility reflects the assumption that the historical volatility over a period similar to the life of the options is indicative of future trends, which may not necessarily be the actual outcome.

As of December 31, 2020, the full fair value of the options for the participants, who did not agree on service conditions (86 participants) for the new Conversion Stock Option Program, was recognized as a personnel expense as the program for these participants is fully vested. For the participants, who did agree on service conditions (two participants), Sono N.V. recognized the proportionate fair value as a personnel expense as the program for these participants is not yet fully vested.

9.3.2

Supervisory Board

In November 2021, Sono Group established a supervisory board. As of December 31, 2021, the supervisory board consists of five members. The members receive share-based payment based on awarded restricted stock units (“RSU”), as part of their remuneration. RSU is the right to receive, in cash, in assets, in the form of plan shares valued at fair market value (“FMV”), or a combination, the FMV of one share on the exercise date. FMV is the closing price of a Sono share on the relevant date on the principal stock exchange where Sono shares have been admitted for trading. The RSU agreements were signed on November 25, 2021, by four members of the supervisory board and on February 22, 2022, by one member of the supervisory board. The RSU are vested in four equal installments on each relevant anniversary of November 19, 2021, with the fourth installment vesting on the earlier of (a) the fourth anniversary of November 21, 2021 (b) the annual general meeting of the Sono N.V. to be held in 2025 (exercise dates). The RSUs expire on the tenth anniversary of November 19, 2021. The measurement date for the four members was November 25, 2021 and for one member December 31, 2021. There are no contractual performance obligations. Vested tranches of RSUs may be exercised at the option of Sono Group in cash or in the form of ordinary shares. The weighted average remaining contractual life as of December 31, 2021 is 9.9 years.

Sono Group considers the RSU a transaction in which the terms of the arrangement provide Sono Group with a choice of settlement. Management determined that Sono Group does not have an obligation to settle in cash and therefore accounts for the transactions with the requirements applying to equity-settled share-based payment transactions.

The following table illustrates the volume of the program, the weighted average fair value at measurement date as well as the total expense of the period and the corresponding increase in equity:

December 31, 2021

Number of options granted			86,411
Weighted average fair value at measurement date (EUR)			14.74
Expense of the period (kEUR)			83
Increase in equity (kEUR)			83

For 2021 Sono N.V. recognized the proportionate fair value as other general and administrative expense.

The following table illustrates the number of, and movements in, share options during the year:

2021

January 1, 2021			-
Granted			86,411
Forfeited			-
December 31, 2021			86,411

The exercise price of all share options will be EUR 0.00.

9.4

Earnings per share

Basic earnings per share is calculated by dividing earnings attributable to Sono N.V. shareholders by the weighted average number of ordinary and high voting shares outstanding during the reporting period. The high voting shares entitle the shareholders to additional voting rights, but not to higher dividend rights.There are currently no factors resulting in a dilution of earnings per share. As a result, basic earnings per share equals diluted earnings per share.

Earnings per share

	2021			2020			2019
	EUR			EUR			EUR

From continuing operations attributable to the ordinary equity holders of the company		(1.07	)		(0.97	)		(0.18	)
		(1.07	)		(0.97	)		(0.18	)

The capital increase and the IPO have resulted in an increase in the number of shares in the reporting year. Moreover, the weighted number of shares was adjusted retroactively in accordance with IAS 33.28 to reflect the issue of bonus shares in 2021. The adjusted weighted number of shares increased to 59,836,824 in the reporting year (2020: 57,684,220; 2019: 56,860,720). Due to the adjustment, reported earnings per share for 2020 have increased from EUR -1.66 to EUR -0.97 (2019: from EUR -0.30 to EUR -0.18).

The options granted under IFRS 2 have not been included in the determination of earnings per share. Details relating to these options are set out in note 9.3 Remuneration based on shares (share-based payment).

9.5

Related parties

Related parties of Sono Group include the following persons as well as their close family members:

●

C-level Management

●

Supervisory Board members

Further, related parties of Sono Group also include the following entities:

●

Sono Motors Management UG

●

Sono Motors Investment UG

Sono N.V. is not controlled by any other entity, but controls Sono Motors GmbH as of December 31, 2021.

The below table displays the compensation of key management personnel:

	2021		2020		2019
	kEUR		kEUR		kEUR

Short-term employee benefits		1,317		558		589
Share-based payments*		1,898		5,829		-
Total compensation		3,215		6,387		589

*	thereof kEUR 2,577 for key management personnel leaving in 2019

Some of the key management personnel do participate in the employee participation program. For details on this program, please refer to note 4.11 Share-based payment and 9.3 Remuneration based on shares (share-based payment).

The table below displays loans and advance payments received from key management personnel and other related parties:

	2021		2020		2019
	kEUR		kEUR		kEUR

Loans from key management personnel (subordinated crowdfunding loan II)		2		2		-
Loans from other related parties		-		199		191
		2		201		191
Advance payments received from key management personnel*		47		52		-
Total		49		253		191

*	for which 10 Sono points have been granted

For the terms and conditions of the subordinated crowdfunding loan II, we refer to note 7.10.2 Other noncurrent financial liabilities.

The main shareholders of Sono N.V. have significant influence over Sono Motors Investment UG, Munich. Therefore, Sono Motors Investment UG is considered a related party. Sono Motors has received a loan amounting to kEUR 185 from Sono Motors Investment UG in 2019. The loan was due December 31, 2020, interest-paying at arm’s length (4 % p.a.) and unsecured. As of December 31, 2020, the loan had not been repaid as of the balance sheet date. Instead, it was paid back on January 5, 2021.

9.6

Reconciliation of changes in liabilities arising from financing activities

The statement of cash flows presents information on the cash flow from operating, financing and investing activities. In fiscal year 2021 and previous years, non-cash financing and investing activities include the acquisition of right-of-use assets (see note 7.3 Right-of-use assets). The table below presents a reconciliation of liabilities arising from financing activities.

	Jan. 1, 2021		Cash flows			Non-cash changes							Dec. 31, 2021
						EIR method		Additions		Other
	kEUR		kEUR			kEUR		kEUR		kEUR			kEUR

Financial liabilities*
Loans and participation rights		12,765		(2,187	)		30		-		(6,859	)		3,749
Lease liabilities		1,958		(378	)		-		1,496		-			3,076
		14,723		(2,565	)		30		1,496		(6,859	)		6,825

*including current and noncurrent financial liabilities

	Jan. 1, 2020		Cash flows			Non-cash changes								Dec. 31, 2020
						EIR method		Additions			Other
	kEUR		kEUR			kEUR		kEUR			kEUR			kEUR

Financial liabilities*
Loans and participation rights		6,250		8,330			482		(650	)		(1,648	)		12,765
Lease liabilities		2,228		(282	)		-		12			-			1,958
		8,478		8,049			482		(638	)		(1,648	)		14,723

*including current and noncurrent financial liabilities

Jan. 1,
2019

Cash
flows

Non-cash changes

Dec. 31,
2019

EIR
method

Additions

Other

kEUR

Financial liabilities*

Loans and participation rights

2,067

3,710

192

281

6,250

Lease liabilities

(92

)

2,320

2,228

2,067

3,618

192

2,320

281

8,478

The column “EIR method” includes both interest paid and non-cash interest expenses.

In the reporting year, other non-cash changes include the transfer of the mandatory convertible notes to equity and the fair-value changes of the mandatory convertible notes. In fiscal year 2020, other non-cash changes include a transfer from debt to equity (kEUR -1,648) in connection with a settlement agreement with a capital provider. For further details, we refer to note 7.10.1 Financial liabilities overview.

9.7

Subsequent events

9.7.1

Production of Sion

Sono Group intends to outsource the Sion’s production to Valmet Automotive in Uusikaupunki, Finland. As of the issuance date of the consolidated financial statements our arrangement with Valmet Automotive is of a preliminary and basic nature and various aspects of our commercial and legal relationship with Valmet Automotive, as well as details of the production of the Sion, will have to be clarified and stipulated in a finalized principal contractual framework with Valmet Automotive in advance of the production of our vehicles.

The change to Valmet Automotive and the development of new production lines leads to a new estimated date for start of production. Accordingly Sono Motors currently projects that it will deliver its first Sion in the second half of 2023. Sono Motors expects to produce and deliver the first Sion in late 2023. The Valmet Automotive facilities in Uusikaupunki allow for the production of a low four-digit volume in 2023, which is expected to be followed by a steady ramp-up over the coming months.The financial impact on the consolidated financial statements resulting from the change to Valmet Automotive cannot be reliably estimated yet.

9.7.2

New employees share-based payment program

Sono Group plans to introduce a new, equity settled ESOP in the second quarter of 2022. The program will be offered to all regular employees except the top management.

The vesting period will go back to 2021. Starting with the second quarter of 2022, management expects the ESOP to have a material impact on the consolidated financial statements of Sono Group. In these consolidated financial statements, no impact of the new ESOP has been considered as the program was not communicated to employees until the second quarter of 2022.The financial impact of the program on the consolidated financial statements cannot be reliably estimated yet.

There may be a new program for the management in the future, but these considerations are at a very early stage.

Approval of these consolidated financial statements

Munich, March 19, 2022

Sono Group N.V.
represented by the Management of Sono Group N.V.

Laurin Hahn Jona Christians Torsten Kiedel

Thomas Hausch Markus Volmer

Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2021

Discloure of Significant Accounting Policies

Description of accounting policy for recognition of revenue [text block]

4.1

Revenue

Description of accounting policy for government grants [text block]

4.2

Grants from government agencies and similar bodies

Description of accounting policy for financial instruments [text block]

4.3

Financial instruments

Initial recognition

Offsetting of financial assets and financial liabilities

Description of accounting policy for financial assets [text block]

4.3.1

Financial assets

Initial measurement

After the initial measurement, financial assets are subsequently classified into one of the following categories:

financial assets at fair value through profit or loss (FVTPL);

financial assets at fair value through other comprehensive income (FVOCI, debt instruments);

financial assets at fair value through other comprehensive income (FVOCI, equity instruments); and

financial assets at amortized cost (AC).

Subsequent measurement

Derecognition

Impairment

For the calculation of impairment losses, IFRS 9 distinguishes between the general approach and the simplified approach.

Description of accounting policy for financial liabilities [text block]

4.3.2

Financial liabilities

Initial measurement

Sono Group analyzes all contracts to determine whether the underlying contracts are debt or equity.

Subsequent measurement

The measurement of financial liabilities of Sono Group depends on their classification as follows:

Derecognition

Description of accounting policy for intangible assets other than goodwill [text block]

4.4

Intangible assets

4.4.1

Internally generated intangible assets

In accordance with IAS 38, research activities undertaken with the prospect of gaining new scientific or technical knowledge and understanding are expensed as incurred.

If the criteria for recognition of assets are not met, the expenses are recognized in profit or loss in the year in which they are incurred.

4.4.2

Acquired intangible assets

Acquired intangible assets are initially measured at cost and amortized over their useful life using the straight-line method.

4.4.3

Subsequent measurement

Intangible assets are amortized using the straight line-method over the useful life as displayed in the below table:

		Website				Software
Useful life (years)			3 - 4				1 - 5

Description of accounting policy for property, plant and equipment [text block]

4.5

Property, plant and equipment

Property, plant and equipment are depreciated using the straight line-method over the useful life as displayed in the below table:

		Equipment / Hardware				Advance payments to technical equipment and machinery
Useful life (years)			3 - 13				-

The residual values of the assets, useful lives and depreciation methods are reviewed at the end of each fiscal year and any changes are accounted for prospectively.

The residual values of the assets are generally considered to be zero.

Description of accounting policy for leases [text block]

4.6

Leases

4.6.1

Right-of-use assets

4.6.2

Lease liabilities

4.6.3

Short-term leases and leases of low-value assets

Description of accounting policy for determining components of cash and cash equivalents [text block]

4.7

Cash and cash equivalents

Description of accounting policy for advance payments received from customers [text block]

4.8

Advance payments received from customers

Description of accounting policy for provisions [text block]

4.9

Provisions

Description of accounting policy for income tax [text block]

4.10

Taxes

4.10.1

Current tax assets and liabilities

4.10.2

Deferred taxes

Deferred tax is recognized using the liability method on temporary differences as of the end of the reporting period between the carrying amounts of assets and liabilities and their tax bases.

4.10.3

Tax losses carried forward

Description of accounting policy for share-based payment transactions [text block]

4.11

Share-based payment

Share-based payment transaction include:

equity-settled share-based payment transactions,

cash-settled share-based payment transactions, and

and are accounted for in accordance with IFRS 2.

4.11.1

Equity-settled

4.11.2

Choice of settlement (Sono Group)

Upon settlement:

if Sono Group elects to settle in cash, the cash payment is accounted for as the repurchase of an equity interest, i. e. as a deduction from equity,

if Sono Group elects to settle by issuing equity instruments, no further accounting is required and

For further details, please refer to note 9.3. Remuneration based on shares (share-based payment).

Description of accounting policy for foreign currency translation [text block]

4.12

Foreign currency translation

Description of accounting policy for significant accounting judgements, estimated and assumptions [text block]

4.13

Significant accounting judgments, estimates and assumptions

Description of accounting policy for going concern [text block]

4.13.1

Going concern

4.13.2

Remuneration based on shares (share-based payment)

4.13.3

Corona pandemic

4.13.4

Russo-Ukrainian war

4.13.5

Sono Points

According to current legal assessments, management concludes that Sono Points do not impact Sono Group as the obligation relates only to the founders.

4.13.6

Recoverability of deferred tax assets in relation to loss carryforwards

Note 4 - Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2021

Disclosure of detailed information about intangible assets [text block]

		Website				Software
Useful life (years)			3 - 4				1 - 5

Disclosure of detailed information about property, plant and equipment [text block]

		Equipment / Hardware				Advance payments to technical equipment and machinery
Useful life (years)			3 - 13				-

Note 6 - Disclosures to the Statement of Income and Loss (Tables)

12 Months Ended

Dec. 31, 2021

Disclosure of research and development expense [text block]

	2021		2020		2019
	kEUR		kEUR		kEUR

Development cost of prototypes		27,632		8,234		2,102
Personnel expenses		11,340		21,652		2,243
thereof related to the CSOP (IFRS 2)		1,137		17,723		-
Software fees and subscriptions		506		91		44
Professional services		352		267		284
Depreciation and amortization		284		171		78
Other		495		54		186
		40,609		30,469		4,937

Disclosures of selling and distribution expenses explanatory [text block]

	2021		2020		2019
	kEUR		kEUR		kEUR

Personnel expenses		1,764		8,490		1,582
thereof related to the CSOP (IFRS 2)		-		6,949		-
Professional services		704		171		103
Advertising		365		84		113
Other		387		355		337
		3,220		9,100		2,135

Disclosure of genral and administrative expenses explantory [text block]

	2021		2020		2019
	kEUR		kEUR		kEUR

Professional services		7,030		4,830		670
Personnel expenses		4,574		9,148		1,325
thereof related to the CSOP (IFRS 2)		761		7,488		-
Impairment		1,965		-		-
Expenses without sufficient supporting documentation		-		21		70
Other		1,525		405		352
		15,094		14,404		2,417

Disclosure of additional information on nature of expenses [text block]

	2021		2020		2019
	kEUR		kEUR		kEUR

Personnel expenses		17,678		39,291		5,151
thereof related to CSOP (IFRS 2)		1,898		32,160		-
Depreciation and amortization		574		384		224
		18,252		39,675		5,375

Disclosure of temporary difference, unused tax losses and unused tax credits [text block]

	Dec 31, 2021			Dec. 31, 2020			Dec. 31, 2019
	kEUR			kEUR			kEUR
Deferred tax assets
due to tax loss carryforwards		54			-			-
due to advance payments received from customers		1,163			670			221
due to lease liabilities		1,015			646			735
due to current provisions		101			-			-
due to current other non-financial assets		29			-			-
due to current financial liabilities		21			-			-
due to current other liabilities		14			-			-
due to cash & cash deposits		2			1			-
due to current other financial assets		1			1			-
due to prepaid expenses		-			134			-
Deferred tax assets		2,400			1,452			956
Deferred tax liabilities
due to leases		995			639			737
due to cash & cash deposits		47			-			-
due to property, plant and equipment		45			10			8
due to noncurrent other non-financial assets		29			-			-
due to other noncurrent financial liabilities		22			112			12
Deferred tax liabilities		1,138			761			757
Non-recognition of deferred tax assets		(1,262	)		(691	)		(199	)
Recognition of deferred tax assets		1,138			761			757
Deferred tax assets/liabilities, net		-			-			-

Disclosure of deductible temporary differences for which no deferred tax assets is recognised [text block]

	Dec. 31, 2021		Dec. 31, 2020
	kEUR		kEUR
Advance payments received from customers		1,928		966
Lease liabilities		1,681		931
Current provisions		168		-
Other non-financial assets		48		-
Current financial liabilities		17		-
Current other liabilities		23		-
Cash & cash deposits		3		1
Other financial assets		19		2
Prepaid expenses		-		193
		3,887		2,093
Potential tax benefit at a total tax rate of 32,98 %		1,282		690

Disclosure of unused tax losses for which no deferred tax assets recognized [text block]

	Dec. 31, 2021		Dec. 31, 2020
	kEUR		kEUR
Unused tax losses for which no deferred tax asset has been recognized (corporate tax)		111,950		51,316
Unused tax losses for which no deferred tax asset has been recognized (trade tax)		111,565		51,083
Potential tax benefit at a total tax rate of 32.98 %		36,858		16,885

Disclosure of reconciliation of income tax explantory [text block]

	2021			2020			2019
	kEUR			kEUR			kEUR
Income (loss) before tax for the period		(63,935	)		(56,032	)		(9,971	)
Expected income tax (income (-)/expense (+) at a tax rate of 32.98 %		(21,086	)		(18,479	)		(3,288	)
Reconciliation:
Changes in unrecognized tax losses		20,061			8,254			3,164
Changes in deferred taxes on timing differences		1,261			690			199
MCN non-tax-deductible expenses		753			-			-
CSOP non-tax-deductible expenses		626			10,606			-
Tax-deductible transaction costs		(937	)		(723	)		(36	)
Non-tax-deductible expenses		37			9			27
Other		(715	)		(357	)		(66	)
Effective income tax income for the period		-			-			-

Note 7 - Balance Sheet Disclosures (Tables)

12 Months Ended

Dec. 31, 2021

Disclosure of intangible assets [text block]

	Website		Software		Total
	kEUR		kEUR		kEUR

Historical cost
Balance as of Jan. 1, 2021		43		-		43
Additions		2		222		224
Balance as of Dec. 31, 2021		45		222		267
Accumulated amortization
Balance as of Jan. 1, 2021		27		-		27
Amortization		11		23		34
Balance as of Dec. 31, 2021		38		23		61
Carrying Amount as of Jan. 1, 2021		16		-		16
Carrying Amount as of Dec. 31, 2021		7		199		206

	Website		Software		Total
	kEUR		kEUR		kEUR

Historical cost
Balance as of Jan. 1, 2020		43		-		43
Additions		-		-		-
Balance as of Dec. 31, 2020		43		-		43
Accumulated amortization
Balance as of Jan. 1, 2020		16		-		16
Amortization		11		-		11
Balance as of Dec. 31, 2020		27		-		27
Carrying Amount as of Jan. 1, 2020		27		-		27
Carrying Amount as of Dec. 31, 2020		16		-		16

Disclosure of property, plant and equipment [text block]

	Equipment / Hardware		Advance payments for technical equipment and machinery			Total
	kEUR		kEUR			kEUR
Acquisition or manufacturing costs Jan. 1, 2021		281		1,965			2,246
Additions		546		926			1,472
Reclassifications		221		(221	)		-
Deductions		-		-			-
Impairment		-		(1,965	)		(1,965	)
Acquisition or manufacturing costs Dec. 31, 2021		1,048		705			1,753
Accumulated depreciation Jan. 1, 2021		144		-			144
Depreciation		125		-			125
Accumulated depreciation Dec. 31, 2021		269		-			269
Carrying Amount Jan. 1, 2021		137		1,965			2,102
Carrying Amount Dec. 31, 2021		779		705			1,484

	Equipment / Hardware		Advance payments to technical equipment and machinery		Total
	kEUR		kEUR		kEUR
Acquisition or manufacturing costs Jan. 1, 2020		239		2,313		2,552
Additions		42		-		42
Deductions		-		348		348
Impairment		-		-		-
Acquisition or manufacturing costs Dec. 31, 2020		281		1,965		2,246
Accumulated depreciation Jan. 1, 2020		83		-		83
Depreciation		61		-		61
Accumulated depreciation Dec. 31, 2020		144		-		144
Carrying Amount Jan. 1, 2020		156		2,313		2,469
Carrying Amount Dec. 31, 2020		137		1,965		2,102

Disclosure of quantitative information about right-of-use assets [text block]

	Buildings		Cars		Total
	kEUR		kEUR		kEUR
Right-of-use assets on January 1, 2021		1,906		31		1,937
Additions to right-of-use assets		1,496		-		1,496
Depreciation of right-of-use assets		405		10		415
Right-of-use assets on December 31, 2021		2,997		21		3,018

Interest expense on lease liabilities		52		4		56
Expense relating to short-term leases		-		-		-
Total cash outflow for leases		423		12		435

	Buildings		Cars		Total
	kEUR		kEUR		kEUR
Right-of-use assets on January 1, 2020		2,211		24		2,235
Additions to right-of-use assets		-		15		15
Depreciation of right-of-use assets		305		8		313
Right-of-use assets on December 31, 2020		1,906		31		1,937

Interest expense on lease liabilities		35		4		39
Expense relating to short-term leases		-		-		-
Total cash outflow for leases		311		12		323

	Buildings		Cars		Total
	kEUR		kEUR		kEUR
Right-of-use assets on January 1, 2019		-		-		-
Additions to right-of-use assets		2,372		25		2,397
Depreciation of right-of-use assets		161		1		163
Right-of-use assets on December 31, 2019		2,211		24		2,235

Interest expense on lease liabilities		22		1		23
Expense relating to short-term leases		84		-		84
Total cash outflow for leases		271		5		276

Disclosure of lease prepayments [text block]

kEUR

< 1 year

1 to 5 years

>5 years

Buildings

488

1,988

810

Cars

Total December 31, 2021

503

2,000

810

kEUR

< 1 year

1 to 5 years

>5 years

Buildings

311

1,302

421

Cars

Total December 31, 2020

323

1,326

421

Disclosure of financial assets [text block]

	Dec. 31, 2021		Dec. 31, 2020
	kEUR		kEUR

PayPal reserve		6,000		4,655
Receivables from crowdfunding and deposits		169		179
Debtors creditors		26		539
Current trade receivables		20		-
Current receivables (affiliated companies)		11		11
Other		7		20

Total		6,233		5,404

Disclosure of cash and cash equivalents [text block]

	Dec. 31, 2021			Dec. 31, 2020
	kEUR			kEUR

Bank balances		132,947			43,266
Allowance for expected credit losses		(8	)		(2	)
Total		132,939			43,264

Disclosure of advance payments received from customers [text block]

	Dec. 31, 2021		Dec. 31, 2020
	kEUR		kEUR

Advance payments received from customers		44,756		38,972
		44,756		38,972

	Balance as of		Additions		Repayment			Net interest		Balance as of
	Jan. 1, 2021									Dec. 31, 2021
	KEUR		kEUR		kEUR			kEUR		kEUR

Advance payments received from customers		38,972		5,198		(912	)		1,498		44,756
		38,972		5,198		(912	)		1,498		44,756

	Balance as of		Additions		Repayment			Net interest		Balance as of
	Jan. 1, 2020									Dec. 31, 2020
	KEUR		kEUR		kEUR			kEUR		kEUR

Advance payments received from customers		11,164		30,565		(4,117	)		1,360		38,972
		11,164		30,565		(4,117	)		1,360		38,972

Disclosure of loans and participation rights [text block]

Nominal amounts	Loan 1			Loan 2			Loan 3*			Subordinated loans (crowd-funding)			Manda-tory con-vertible Notes			Participation rights			Total
	kEUR			kEUR			kEUR			kEUR			kEUR			kEUR			kEUR
Jan. 1, 2020**		-			295			2,590			1,967			-			1,383			6,235
Addition		1,225			-			-			2,795			6,800			-			10,820
Accrued interest		46			12			277			101			-			-			435
Repayment		-			(107	)		(1,219	)		(1,731	)		-			-			(3,058	)
Conversion to equity		-			-			(1,648	)		-			-			-			(1,648	)
Dec. 31, 2020		1,271			200			-			3,131			6,800			1,383			12,784
Addition		-			-			-			-			-			-			-
Accrued interest		50			-			-			174			-			52			276
Repayment		(36	)		(200	)		-			(805	)		-			(1,435	)		(2,475	)
Conversion to equity		-			-			-			-			(6,800	)		-			(6,800	)
Dec. 31, 2021		1,285			-			-			2,500			-			-			3,785

Carrying amounts	Loan 1		Loan 2			Loan 3*			Subordinated loans (crowd-funding)			Manda-tory convertible Notes			Participation rights			Total
	kEUR		kEUR			kEUR			kEUR			kEUR			kEUR			kEUR

Jan. 1, 2020		-		295			2,583			2,026			-			1,346			6,250
Initial recognition		1,225		-			-			2,714			6,800			-			10,739
Subsequent measurement		46		12			284			53			59			28			482
Derecognition		-		(107	)		(1,219	)		(1,731	)		-			-			(3,058	)
Conversion to equity		-		-			(1,648	)		-			-			-			(1,648	)
Dec. 31, 2020		1,271		200			-			3,062			6,859			1,374			12,766
Initial recognition		-		-			-			-			-			-			-
Subsequent measurement		14		-			-			58			2,802			62			2,936
Derecognition		-		(200	)		-			(655	)		-			(1,436	)		(2,291	)
Conversion to equity		-		-			-			-			(9,661	)		-			(9,661	)
Dec. 31, 2021		1,285		-			-			2,465			-			-			3,750

Disclosure of financial liabilities [text block]

	Dec. 31, 2021		Dec. 31, 2020
	kEUR		kEUR

Loans and participation rights		3,718		3,665
Lease liabilities		2,635		1,669
		6,353		5,335

	Dec. 31, 2021		Dec. 31, 2020
	kEUR		kEUR

Current other financial liabilities
Loans and participation rights		31		2,240
Mandatory convertible notes		-		6,859
Lease liabilities		441		289
		472		9,388

Disclosure of trade and other payables [text block]

	Dec. 31, 2021		Dec. 31, 2020
	kEUR		kEUR

Trade payables		6,866		2,642
Other payables		715		232
		7,582		2,874

Disclosure of other current liabilities [text block]

	Dec. 31, 2021		Dec. 31, 2020
	kEUR		kEUR

Accruals and deferrals		2,011		1,463
Employee tax liabilities (wage and church tax)		372		146
Tax liabilities (VAT taxes and interest)		109		80
		2,492		1,689

Disclosure of other provisions, contingent liabilities and contingent assets [text block]

	Balance as of		Usage			Reversals		Additions		Balance as of
	Jan. 1, 2021									Dec. 31, 2021
	KEUR		kEUR			kEUR		kEUR		kEUR

Other provisions		-		-			-		65		65
Personnel costs		-		-			-		-		-
Financial statements		111		(111	)		-		2,137		2,137
		111		(111	)		-		2,202		2,202

	Balance as of		Usage			Reversals		Additions		Balance as of
	Jan. 1, 2020									Dec. 31, 2020
	KEUR		kEUR			kEUR		kEUR		kEUR

Other provisions		-		-			-		-		-
Personnel costs		584		(584	)		-		-		-
Financial statements		52		(46	)		-		105		111
		636		(630	)		-		105		111

Note 8 - Disclosure of Financial Instruments and Risk Management (Tables)

12 Months Ended

Dec. 31, 2021

Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [text block]

	Total
	kEUR

Opening loss allowance as at January 1, 2020		-
Additions recognized in profit or loss during the period		6
Utilization		-
Closing loss allowance as at December 31, 2020		6

Opening loss allowance as at January 1, 2021		6
Additions recognized in profit or loss during the period		6
Utilization		(2	)
Closing loss allowance as at December 31, 2021		10

Disclosure of credit risk [text block]

	Credit risk rating grade	Gross carrying amount (12m ECL)
		kEUR

December 31, 2020	Risk class 1		48,715
December 31, 2021	Risk class 1		139,273

Disclosure of maturity analysis for non-derivative financial liabilities [text block]

	Carrying amount		< 1 year		1 to 5 years		>5 years
	kEUR		kEUR		kEUR		kEUR

Trade and other payables		7,582		7,582		-		-
Loans and participation rights		3,749		186		4,134		-
Lease liabilities		3,076		503		2,000		810
Mandatory convertible notes		-		-		-		-
Total December 31, 2021		14,407		8,271		6,134		810

	Carrying amount		< 1 year		1 to 5 years		>5 years
	kEUR		kEUR		kEUR		kEUR

Trade and other payables		2,874		2,874		-		-
Loans and participation rights		5,905		2,489		4,260		-
Mandatory convertible notes		6,859		9,286		-		-
Lease liabilities		1,958		323		1,326		421
Total December 31, 2020		17,596		14,972		5,586		421

Disclosure of effect of changes in foreign exchange rates [text block]

Cash	December 31, 2021				December 31, 2020
	k units		kEUR		k units		kEUR
USD		30,425		26,877		-		-
				26,877		-		-

Trade payables	December 31, 2021				December 31, 2020
	k units		kEUR		k units		kEUR
CNY		6,616		916		-		-
USD		144		127		-		-
SEK		120		12		-		-
GBP		1		2		-		-
				1,057		-		-

EUR appreciation of 10 %	December 31, 2021			December 31, 2020
	kEUR			kEUR
USD		(2,432	)		-
CNY		83			-
SEK		1			-
GBP		-			-
		(2,348	)		-

EUR depreciation of 10 %	December 31, 2021			December 31, 2020
	kEUR			kEUR
USD		2,972			-
CNY		(102	)		-
SEK		(1	)		-
GBP		-			-
		2,869			-

Disclosure of detailed information about financial instruments [text block]

December 31, 2021

kEUR

carrying amount

category
(IFRS 9)

fair value

fair value
level

Noncurrent financial assets

Other financial assets

Security deposits

Current financial assets

Other financial assets

Paypal reserve

6,000

n/a*

n/a

Receivables from crowdfunding and deposits

169

n/a*

n/a

Debtor creditors

n/a*

n/a

Current trade receivables

n/a*

n/a

Current trade receivables (affiliated companies)

n/a*

n/a

Other

n/a*

n/a

Cash and cash equivalents

132,939

n/a*

n/a

Noncurrent financial liabilities

Financial liabilities

Loans and participation rights

3,718

FLAC

3,466

Lease liabilities

2,635

Current financial liabilities

Financial liabilities

Loans and participation rights

FLAC

n/a*

n/a

Lease liabilities

441

Mandatory convertible notes

FVTPL

Trade and other payables

7,582

FLAC

n/a*

n/a

December 31, 2020

kEUR

carrying amount

category
(IFRS 9)

fair value

fair value
level

Noncurrent financial assets

Other financial assets

Deposits

Current financial assets

Other financial assets

PayPal reserves

4,655

n/a*

n/a

Debtor creditors

539

n/a*

n/a

Receivables from crowdfunding and deposits

179

n/a*

n/a

Other

n/a*

n/a

Cash and cash equivalents

43,264

n/a*

n/a

Noncurrent financial liabilities

Financial liabilities

Loans and participation rights

3,665

FLAC

3,308

Lease liabilities

1,669

Current financial liabilities

Financial liabilities

Loans and participation rights

2,240

FLAC

n/a*

n/a

Lease liabilities

289

Mandatory convertible notes

6,859

FVTPL

6,859

Trade and other payables

2,874

FLAC

n/a*

n/a

	Dec. 31, 2021		Dec. 31, 2020
	kEUR		kEUR

Financial assets measured at amortized cost (AC)		139,263		48,709
Financial liabilities measured at amortized cost (FLAC)		11,331		8,779
Financial liabilities measured at fair value through profit or loss (FVTPL)		-		6,859

Disclosure of significant unobservable inputs used in fair value measurement of liabilities [text block]

Description

Fair value at

Unobservable input

Range of inputs
(most likely outcome)

Relationship of unobservable inputs to fair value

Dec. 31,
2021

Dec. 31,
2020

Dec. 31,
2021

kEUR

Mandatory convertible notes

6,859

n/a

Description

Fair value at

Unobservable input

Range of inputs
(most likely outcome)

Relationship of unobservable inputs to fair value

Dec. 31,
2020

Dec. 31,
2019

Dec. 31,
2020

kEUR

Mandatory convertible notes

6,859

Probability of an 'exit event' in the second quarter of 2021

50 %

100%

An increase of the probability to 100 % would increase FV by kEUR 2,170.

(75%)

A decrease of the probability to 50 % would decrease FV by kEUR - 2,170.

Disclosure of reconciliation of changes in fair value measurement, liabilities [text block]

	Dec. 31, 2021			Dec. 31, 2020
	kEUR			kEUR

Balance at beginning of year		6,859			-
New transactions		-			6,800
Amount presented in other comprehensive income (OCI)		(16	)		21
Amount presented in profit or loss (interest and other expenses)		2,818			38
Payment for fractional shares		-			-
Conversion to equity		(9,661	)		-
Transfer from OCI to accumulated deficit					-
Other comprehensive income		(5	)		-
Accumulated deficit		5			-
Balance at end of year		-			6,859

Disclosure of interest income (expense) [text block]

	2021		2020		2019
	kEUR		kEUR		kEUR

Total interest expense for financial assets at amortized cost		156		43		1
Total interest expense for financial liabilities at amortized cost		319		560		287

Disclosure of gains (losses) on financial instruments [text block]

	2021		2020		2019
	kEUR		kEUR		kEUR

Net loss for financial assets at amortized cost		162		49		1
Net loss for financial liabilities at amortized cost		319		560		287
Net loss for financial liabilities at fair value through profit or loss		2,802		59		-

Note 9 - Other Disclosures (Tables)

12 Months Ended

Dec. 31, 2021

Disclosure of employee participation in share-based payment arrangements [text block]

	Cash-settled program		Equity-settled program


Staff members		1		85
Managers		-		3
		1		88

Disclosure of share options granted [text block]

December 31, 2021

Number of options granted			1,805,100
Weighted average fair value at grant date (EUR)			19.26
Expense of the period (kEUR)			1,898
Increase in equity (kEUR)			1,898

December 31, 2020

Number of options granted			1,805,100
Weighted average fair value at grant date (EUR)			19.26
Expense of the period (kEUR)			32,160
Increase in equity (kEUR)			32,160

Disclosure of number and weighted average exercise prices of share options [text block]

2021

January 1, 2021			1,805,100
Granted			-
Forfeited			-
December 31, 2021			1,805,100

2020

January 1, 2020			-
Granted			1,805,100
Forfeited			-
December 31, 2020			1,805,100

Disclosure of indirect measurement of fair value of goods or services received, share options granted during period [text block]

Input factor

Weighted average share price (EUR)	22.01
Exercise price (EUR)	0.06
Expected volatility	75	%
Option life (yrs.)	1.29
Expected dividends (EUR)	0.00
Risk-free interest rate	(0.73	)%
Lack of marketability discount	14.39	%

Disclosure of indirect measurement of fair value of goods or services received, other equity instruments granted during period [text block]

December 31, 2021

Number of options granted			86,411
Weighted average fair value at measurement date (EUR)			14.74
Expense of the period (kEUR)			83
Increase in equity (kEUR)			83

Disclosure of number and weighted average exercise prices of other equity instruments [text block]

2021

January 1, 2021			-
Granted			86,411
Forfeited			-
December 31, 2021			86,411

Earnings per share [text block]

	2021			2020			2019
	EUR			EUR			EUR

From continuing operations attributable to the ordinary equity holders of the company		(1.07	)		(0.97	)		(0.18	)
		(1.07	)		(0.97	)		(0.18	)

Disclosure of related party [text block]

	2021		2020		2019
	kEUR		kEUR		kEUR

Short-term employee benefits		1,317		558		589
Share-based payments*		1,898		5,829		-
Total compensation		3,215		6,387		589

Disclosure of transactions between related parties [text block]

	2021		2020		2019
	kEUR		kEUR		kEUR

Loans from key management personnel (subordinated crowdfunding loan II)		2		2		-
Loans from other related parties		-		199		191
		2		201		191
Advance payments received from key management personnel*		47		52		-
Total		49		253		191

Disclosure of reconciliation of liabilities arising from financing activities [text block]

	Jan. 1, 2021		Cash flows			Non-cash changes							Dec. 31, 2021
						EIR method		Additions		Other
	kEUR		kEUR			kEUR		kEUR		kEUR			kEUR

Financial liabilities*
Loans and participation rights		12,765		(2,187	)		30		-		(6,859	)		3,749
Lease liabilities		1,958		(378	)		-		1,496		-			3,076
		14,723		(2,565	)		30		1,496		(6,859	)		6,825

	Jan. 1, 2020		Cash flows			Non-cash changes								Dec. 31, 2020
						EIR method		Additions			Other
	kEUR		kEUR			kEUR		kEUR			kEUR			kEUR

Financial liabilities*
Loans and participation rights		6,250		8,330			482		(650	)		(1,648	)		12,765
Lease liabilities		2,228		(282	)		-		12			-			1,958
		8,478		8,049			482		(638	)		(1,648	)		14,723

Jan. 1,
2019

Cash
flows

Non-cash changes

Dec. 31,
2019

EIR
method

Additions

Other

kEUR

Financial liabilities*

Loans and participation rights

2,067

3,710

192

281

6,250

Lease liabilities

(92

)

2,320

2,228

2,067

3,618

192

2,320

281

8,478

Note 1 - General Information (Details Textual) € / shares in Units, € in Thousands		1 Months Ended
	Nov. 19, 2021 shares	Nov. 30, 2021 EUR (€) € / shares shares	Dec. 31, 2021 € / shares	Nov. 30, 2021 $ / shares	Nov. 17, 2021 € / shares	Nov. 08, 2021 € / shares	Nov. 27, 2020 € / shares
Statement Line Items [Line Items]
Par value per share (in EUR per share)						€ 0.06
Ordinary shares [member]
Statement Line Items [Line Items]
Total increase (decrease) in number of shares outstanding (in shares) \| shares		10,000,000
Par value per share (in EUR per share)		€ 0.06	€ 0.06		€ 0.06		€ 0.06
Share issued, price per share (in dollars per share) \| $ / shares				$ 15.00
Proceeds from issue of ordinary shares \| €		€ 160,425
Ordinary shares [member] \| Underwriters [member]
Statement Line Items [Line Items]
Total increase (decrease) in number of shares outstanding (in shares) \| shares	1,500,000
Par value per share (in EUR per share)					€ 0.06

Note 4 - Significant Accounting Policies (Details Textual) - EUR (€) € in Thousands	1 Months Ended	12 Months Ended
	Nov. 30, 2021	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 15, 2020
Statement Line Items [Line Items]
Percentage of taxable income subject to corporate income and trade tax			40.00%
Retained earnings			€ (147,081)	€ (83,123)
Percentage of profit participation rights						64.07%
IPO [member]
Statement Line Items [Line Items]
Proceeds from issue of ordinary shares	€ 142,334		€ 142,334	€ 0	€ 0
Top of range [member]
Statement Line Items [Line Items]
Percentage of annual taxable income			60.00%
Tax income offset against tax loss carry forwards			€ 1,000
Bottom of range [member] \| IPO [member] \| Potential ordinary share transactions [member]
Statement Line Items [Line Items]
Proceeds from issue of ordinary shares		€ 200,000

Note 4 - Significant Accounting Policies - Intangible Assets Useful Life (Details)	12 Months Ended
	Dec. 31, 2021
Website [member] \| Bottom of range [member]
Statement Line Items [Line Items]
Useful life (years) (Year)	3 years
Website [member] \| Top of range [member]
Statement Line Items [Line Items]
Useful life (years) (Year)	4 years
Software [member] \| Bottom of range [member]
Statement Line Items [Line Items]
Useful life (years) (Year)	1 year
Software [member] \| Top of range [member]
Statement Line Items [Line Items]
Useful life (years) (Year)	5 years

Note 4 - Significant Accounting Policies - Property, Plant and Equipment (Details) - Equipment or hardware [member]	12 Months Ended
	Dec. 31, 2021
Bottom of range [member]
Statement Line Items [Line Items]
Useful life (years) (Year)	3 years
Top of range [member]
Statement Line Items [Line Items]
Useful life (years) (Year)	13 years

Note 5 - Segment Information (Details Textual) € in Thousands	12 Months Ended
	Dec. 31, 2021 EUR (€)	Dec. 31, 2020 EUR (€)	Dec. 31, 2019 EUR (€)
Statement Line Items [Line Items]
Number of operating segment	1
Total non-current assets	€ 4,888	€ 4,096
Total revenue	16	0	€ 0
Integration of solar technology [member]
Statement Line Items [Line Items]
Total revenue	11	€ 0	€ 0
Germany 1 [member]
Statement Line Items [Line Items]
Total non-current assets	3,899
Germany 1 [member] \| Integration of solar technology [member]
Statement Line Items [Line Items]
Total revenue	2
Finland [member]
Statement Line Items [Line Items]
Total non-current assets	898
United states 1[member] \| Integration of solar technology [member]
Statement Line Items [Line Items]
Total revenue	€ 9

- Definition

The income arising in the course of an entity's ordinary activities. Income is increases in assets, or decreases in liabilities, that result in increases in equity, other than those relating to contributions from holders of equity claims.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 8
-IssueDate 2021-01-01
-Paragraph 28
-Subparagraph a
-URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=8&code=ifrs-tx-2021-en-r&anchor=para_28_a&doctype=Standard
-URIDate 2021-03-24

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 8
-IssueDate 2021-01-01
-Paragraph 23
-Subparagraph a
-URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=8&code=ifrs-tx-2021-en-r&anchor=para_23_a&doctype=Standard
-URIDate 2021-03-24

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 8
-IssueDate 2021-01-01
-Paragraph 32
-URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=8&code=ifrs-tx-2021-en-r&anchor=para_32&doctype=Standard
-URIDate 2021-03-24

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 8
-IssueDate 2021-01-01
-Paragraph 33
-Subparagraph a
-URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=8&code=ifrs-tx-2021-en-r&anchor=para_33_a&doctype=Standard
-URIDate 2021-03-24

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 8
-IssueDate 2021-01-01
-Paragraph 34
-URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=8&code=ifrs-tx-2021-en-r&anchor=para_34&doctype=Standard
-URIDate 2021-03-24

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Name IAS
-Number 1
-IssueDate 2021-01-01
-Paragraph 82
-Subparagraph a
-URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&num=1&code=ifrs-tx-2021-en-r&anchor=para_82_a&doctype=Standard
-URIDate 2021-03-24

Reference 7: http://www.xbrl.org/2003/role/exampleRef
-Name IAS
-Number 1
-IssueDate 2021-01-01
-Paragraph 103
-URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&num=1&code=ifrs-tx-2021-en-r&anchor=para_103&doctype=Standard
-URIDate 2021-03-24

Reference 8: http://www.xbrl.org/2003/role/exampleRef
-Name IAS
-Number 1
-IssueDate 2021-01-01
-Paragraph 102
-URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&num=1&code=ifrs-tx-2021-en-r&anchor=para_102&doctype=Standard
-URIDate 2021-03-24

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 5
-IssueDate 2021-01-01
-Paragraph 33
-Subparagraph b
-Clause i
-URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=5&code=ifrs-tx-2021-en-r&anchor=para_33_b_i&doctype=Standard
-URIDate 2021-03-24

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 12
-IssueDate 2021-01-01
-Paragraph B12
-Subparagraph b
-Clause v
-URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=12&code=ifrs-tx-2021-en-r&anchor=para_B12_b_v&doctype=Appendix&subtype=B
-URIDate 2021-03-24

Reference 11: http://www.xbrl.org/2003/role/exampleRef
-Name IFRS
-Number 12
-IssueDate 2021-01-01
-Paragraph B10
-Subparagraph b
-URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=12&code=ifrs-tx-2021-en-r&anchor=para_B10_b&doctype=Appendix&subtype=B
-URIDate 2021-03-24

+ Details

Note 6 - Disclosures to the Statement of Income and Loss (Details Textual) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Statement Line Items [Line Items]
Total revenue	€ 16	€ 0	€ 0
Cost of sales	58	(0)	(0)
Trade receivables	20	0
Total contract assets	0
Transaction price allocated to remaining performance obligations	42	0
Total contract liabilities	0
Impairment loss recognised in profit or loss, property, plant and equipment	1,965	0	0
Professional services received in connection with the IPO was not recognized in general and administrative expenses but deducted from capital reserves	2,690
Professional services in connection with the IPO received in the previous year were accrued as a current non-financial asset in the previous year and deducted from capital reserve in the reporting year	135
Increase (decrease) in personnel expenses	(21,613)	(1,898)	(32,160)
Miscellaneous other operating income	269	334	220
Income from government grants	71	68	15
Other income	125	0	0
Maximum advance payments from customers	4,000
Other expense	452	349	0
Impairment loss on financial assets	6	6	0
Interest income	0	2	0
Interest expense	4,781	2,040	702
Interest expense on other financial liabilities	3,227	614	287
Interest expense on advance payments from customers	1,497	1,360	415
Deferred tax expense (income)	18	0	0
Current deferred tax assets	314	806
Current deferred tax liabilities	47	73
Tax effect of transaction cost	937	723
Deferred tax assets	2,400	1,452	956
Deferred tax assets on transaction costs recognized in equity	18	0
Unused tax losses [member]
Statement Line Items [Line Items]
Deferred tax assets	54	0
Advance payments to technical equipment and machinery [member]
Statement Line Items [Line Items]
Impairment loss recognised in profit or loss, property, plant and equipment	1,965	(0)
Integration of solar technology [member]
Statement Line Items [Line Items]
Total revenue	11	0	0
Cost of sales	52	0	0
Sono app [member]
Statement Line Items [Line Items]
Total revenue	5	0	0
Cost of sales	6	0	0
Agency fees from the Renault ZOE conversion [member]
Statement Line Items [Line Items]
Other income	€ 47	€ 240	€ 0

Note 6 - Disclosures to the Statement of Income and Loss - Cost of Research and Development (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Statement Line Items [Line Items]
Development cost of prototypes	€ 27,632	€ 8,234	€ 2,102
Personnel expenses	11,340	21,652	2,243
Software fees and subscriptions	506	91	44
Professional services	352	267	284
Depreciation and amortization	284	171	78
Other	495	54	186
Cost of research and development	40,609	30,469	4,937
Conversion stock option program (CSOP) [member]
Statement Line Items [Line Items]
Personnel expenses	€ 1,137	€ 17,723	€ 0

Note 6 - Disclosures to the Statement of Income and Loss - Selling and Distribution Expenses (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Statement Line Items [Line Items]
Personnel expenses	€ 17,678	€ 39,291	€ 5,151
Selling and distribution expenses	3,220	9,100	2,135
Conversion stock option program (CSOP) [member]
Statement Line Items [Line Items]
Personnel expenses	1,898	32,160	0
Selling and distribution costs [member]
Statement Line Items [Line Items]
Personnel expenses	1,764	8,490	1,582
Professional services	704	171	103
Advertising	365	84	113
Other	387	355	337
Selling and distribution expenses	3,220	9,100	2,135
Selling and distribution costs [member] \| Conversion stock option program (CSOP) [member]
Statement Line Items [Line Items]
Personnel expenses	€ 0	€ 6,949	€ 0

Note 6 - Disclosures to the Statement of Income and Loss - General and Administrative Expenses (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Statement Line Items [Line Items]
Professional services	€ 7,030	€ 4,830	€ 670
Personnel expenses	4,574	9,148	1,325
Impairment	1,965	0	0
Expenses without sufficient supporting documentation	0	21	70
Other	1,525	405	352
General and administrative expenses	15,094	14,404	2,417
Conversion stock option program (CSOP) [member]
Statement Line Items [Line Items]
Personnel expenses	€ 761	€ 7,488	€ 0

Note 6 - Disclosures to the Statement of Income and Loss - Additional Information on Nature of Expenses (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Statement Line Items [Line Items]
Personnel expenses	€ 17,678	€ 39,291	€ 5,151
Depreciation and amortization	574	384	224
Additional information on nature of expenses	18,252	39,675	5,375
Conversion stock option program (CSOP) [member]
Statement Line Items [Line Items]
Personnel expenses	€ 1,898	€ 32,160	€ 0

Note 6 - Disclosures to the Statement of Income and Loss - Deferred Tax Assets and Liabilities (Details) - EUR (€) € in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Statement Line Items [Line Items]
Deferred tax assets	€ 2,400	€ 1,452	€ 956
Deferred tax liabilities	1,138	761	757
Non-recognition of deferred tax assets	(1,262)	(691)	(199)
Recognition of deferred tax assets	1,138	761	757
Deferred tax assets/liabilities, net	0	0	0
Tax loss carryforwards [member]
Statement Line Items [Line Items]
Deferred tax assets	54	0	0
Advance payments received from customers [member]
Statement Line Items [Line Items]
Deferred tax assets	1,163	670	221
Lease liabilities [member]
Statement Line Items [Line Items]
Deferred tax assets	1,015	646	735
Current provisions [member]
Statement Line Items [Line Items]
Deferred tax assets	101	0	0
Current other non-financial assets [member]
Statement Line Items [Line Items]
Deferred tax assets	29	0	0
Current financial liabilities [member]
Statement Line Items [Line Items]
Deferred tax assets	21	0	0
Current other liabilities [member]
Statement Line Items [Line Items]
Deferred tax assets	14	0	0
Cash and cash deposits [member]
Statement Line Items [Line Items]
Deferred tax assets	2	1	0
Deferred tax liabilities	47	0	0
Current other financial assets [member]
Statement Line Items [Line Items]
Deferred tax assets	1	1	0
Prepaid expenses [member]
Statement Line Items [Line Items]
Deferred tax assets	0	134	0
Leases [member]
Statement Line Items [Line Items]
Deferred tax liabilities	995	639	737
Property, plant and equipment [member]
Statement Line Items [Line Items]
Deferred tax liabilities	45	10	8
Noncurrent other non-financial assets [member]
Statement Line Items [Line Items]
Deferred tax liabilities	29	0	0
Other noncurrent financial liabilities [member]
Statement Line Items [Line Items]
Deferred tax liabilities	€ 22	€ 112	€ 12

Note 6 - Disclosures to the Statement of Income and Loss - Temporary Differences for which No Deferred Tax Assets Recognized (Details) - EUR (€) € in Thousands	Dec. 31, 2021	Dec. 31, 2020
Statement Line Items [Line Items]
Temporary differences for which no deferred tax assets is recognized	€ 3,887	€ 2,093
Potential tax benefit at a total tax rate of 32,98 %	1,282	690
Advances payments received from customers [member]
Statement Line Items [Line Items]
Temporary differences for which no deferred tax assets is recognized	1,928	966
Lease liabilites [member]
Statement Line Items [Line Items]
Temporary differences for which no deferred tax assets is recognized	1,681	931
Current provisions [member]
Statement Line Items [Line Items]
Temporary differences for which no deferred tax assets is recognized	168	0
Other non-financial assets [member][
Statement Line Items [Line Items]
Temporary differences for which no deferred tax assets is recognized	48	0
Current financial liabilities [member]
Statement Line Items [Line Items]
Temporary differences for which no deferred tax assets is recognized	17	0
Current other liabilities [member]
Statement Line Items [Line Items]
Temporary differences for which no deferred tax assets is recognized	23	0
Cash and cash deposits [member]
Statement Line Items [Line Items]
Temporary differences for which no deferred tax assets is recognized	3	1
Other financial assets [member]
Statement Line Items [Line Items]
Temporary differences for which no deferred tax assets is recognized	19	2
Prepaid expenses 1 [member]
Statement Line Items [Line Items]
Temporary differences for which no deferred tax assets is recognized	€ 0	€ 193

Note 6 - Disclosures to the Statement of Income and Loss - Temporary Differences for which No Deferred Tax Assets Recognized (Details) (Parentheticals)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Statement Line Items [Line Items]
Tax rate	32.98%	32.98%	32.98%

Note 6 - Disclosures to the Statement of Income and Loss - Unused Tax Losses for which No Deferred Tax Assets Recognized (Details) - EUR (€) € in Thousands	Dec. 31, 2021	Dec. 31, 2020
Statement Line Items [Line Items]
Potential tax benefit at a total tax rate of 32.98 %	€ 36,858	€ 16,885
Corporate tax [member]
Statement Line Items [Line Items]
Unused tax losses for which no deferred tax asset has been recognized	111,950	51,316
Trade tax [member]
Statement Line Items [Line Items]
Unused tax losses for which no deferred tax asset has been recognized	€ 111,565	€ 51,083

Note 6 - Disclosures to the Statement of Income and Loss - Unused Tax Losses for which No Deferred Tax Assets Recognized (Details) (Parentheticals)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Statement Line Items [Line Items]
Tax rate	32.98%	32.98%	32.98%

Note 6 - Disclosures to the Statement of Income and Loss - Reconciliation of Effective Income Tax (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Statement Line Items [Line Items]
Income (loss) before tax for the period	€ (63,935)	€ (56,032)	€ (9,971)
Expected income tax (income (-)/expense (+) at a tax rate of 32.98 %	(21,086)	(18,479)	(3,288)
Changes in unrecognized tax losses	20,061	8,254	3,164
Changes in deferred taxes on timing differences	1,261	690	199
MCN non-tax-deductible expenses	753	0	0
CSOP non-tax-deductible expenses	626	10,606	0
Tax-deductible transaction costs	(937)	(723)	(36)
Non-tax-deductible expenses	37	9	27
Other	(715)	(357)	(66)
Effective income tax income for the period	€ 0	€ 0	€ 0

Note 6 - Disclosures to the Statement of Income and Loss - Reconciliation of Effective Income Tax (Details) (Parentheticals)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Statement Line Items [Line Items]
Tax rate	32.98%	32.98%	32.98%

Note 7 - Balance Sheet Disclosures (Details Textual)
€ / shares in Units, $ in Thousands

1 Months Ended

6 Months Ended

12 Months Ended

14 Months Ended

Nov. 17, 2021

EUR (€)

€ / shares

Nov. 17, 2021

USD ($)

Nov. 08, 2021

€ / shares

Dec. 10, 2020

EUR (€)

Nov. 27, 2020

EUR (€)

€ / shares

Feb. 28, 2022

EUR (€)

Nov. 30, 2021

EUR (€)

€ / shares

Dec. 31, 2020

EUR (€)

€ / shares

Nov. 30, 2020

EUR (€)

Jun. 30, 2021

EUR (€)

Dec. 31, 2021

EUR (€)

€ / shares

Dec. 31, 2020

EUR (€)

€ / shares

Dec. 31, 2019

EUR (€)

Dec. 31, 2019

Dec. 01, 2021

EUR (€)

Jan. 01, 2021

EUR (€)

Jan. 01, 2020

EUR (€)

Nov. 30, 2019

EUR (€)

Amortisation, intangible assets other than goodwill

€ 34,000

€ 11,000

Depreciation and amortisation, research and development

284,000

171,000

78,000

Depreciation, property, plant and equipment

125,000

61,000

50,000

Impairment loss recognised in profit or loss, property, plant and equipment

1,965,000

Depreciation, right-of-use assets

415,000

313,000

163,000

Lease commitments for short-term leases for which recognition exemption has been used

€ 0

4,000

Expense relating to variable lease payments not included in measurement of lease liabilities

16,000

Other non-current financial assets

41,000

91,000

41,000

€ 91,000

€ 41,000

Other current financial assets

5,404,000

6,233,000

5,404,000

Other current non-financial assets

579,000

3,236,000

579,000

Subscribed capital

6,468,000

8,735,000

6,468,000

Par value per share (in EUR per share) | € / shares

€ 0.06

Increase in number of shares outstanding, new issuances (in shares) | shares

^[1]

36,008,000

^[1]

5,189,000

^[2]

25,468,644

1,735,197

Capital Authorised

€ 25,200,000

25,200,000

Proceeds from issuing shares

€ 142,334,000

$ 160,425

Payments for share issue costs

2,825,000

2,192,000

Payments for transaction costs deferred for planned IPO

135,000

€ 135,000

Increase in number of shares outstanding, settlement agreement (in shares) | shares

480,000

Modification of settlement agreement liability

€ 1,427,000

Modification of liability, new share issuance

38,200,000

Increase (decrease) through share-based payment transactions, equity

€ 1,981,000

€ 32,160,000

Advances, percent cancellable

11.00%

28.00%

11.00%

Advances, percent cancellable, year one

1.00%

58.00%

1.00%

Advances, percent cancellable, year two

21.00%

13.00%

21.00%

Advances, percent cancellable, year three

66.00%

1.00%

66.00%

Advances, percent cancellable, year four

1.00%

€ 2,187,000

€ 2,327,000

(0)

Short-term employee benefits [member]

€ 2,874,000

7,582,000

2,874,000

Accrued vacation payments to employees [member]

383,000

Accrued expenses for peniding invoices [member]

Accruals

857,000

Statutory levies [member]

Accruals

751,000

Mandatory convertible notes [member]

Accruals

65,000

144,000

65,000

Par value per share (in EUR per share) | € / shares

€ 0.06

Conversion of loans, number of shares issued (in shares) | shares

9,661,000

€ 9,661,000

6,800,000

737,664

Total par value of shares converted from debt recognized in subscribed capital

€ 44,000

Loan 1 [member]

€ 1,225,000

4.00%

First loan 2 [member]

€ 185,000

4.00%

Second loan 2 [member]

185,000

€ 100,000

185,000

Loan 3 [member]

€ 2,500,000

12.00%

€ 29,000

Loan 3 after IPO [member]

200,000

€ 250,000

200,000

Borrowing, number of monthly installments

€ 250,000

Settlement agreement , recognized in equity

€ 1,427,000

Subordinated loans [member]

€ 200,000

€ 250,000

€ 200,000

Participation rights [member]

6.00%

€ 9,617,000

€ 1,383,000

3.50%

Percentage of face value

0.52%

Number of cars reserved

1,000

Two investors [member]

€ 68,136,000

Each investor [member]

Increase in number of shares outstanding, new issuances (in shares) | shares

0.71

Capital providers [member] | Loan 3 [member]

Borrowing, number of monthly installments

€ 250,000

Ordinary shares [member]

Total number of shares issued (in shares) | shares

30,588,000

Par value per share (in EUR per share) | € / shares

€ 0.06

Increase in number of shares outstanding, new issuances (in shares) | shares

10,000,000

Number of shares authorised (in shares) | shares

320,000,000

Shares issued, price per share (in EUR per share) | € / shares

€ 15.00

Increase in number of shares outstanding, conversion of convertible securities (in shares) | shares

737,664

Number of shares authorised, maximum dividend (in shares) | shares

320,000

Ordinary shares [member] | Underwriters [member]

Par value per share (in EUR per share) | € / shares

€ 0.06

Increase in number of shares outstanding, new issuances (in shares) | shares

1,500,000

Shares issued, price per share (in EUR per share) | € / shares

€ 13.95

High-voting shares [member]

Total number of shares issued (in shares) | shares

3,000,000

Par value per share (in EUR per share) | € / shares

€ 1.50

Number of shares authorised (in shares) | shares

4,000,000

Number of shares authorised, maximum dividend (in shares) | shares

4,000,000

Subscribed capital [member]

Total number of shares issued (in shares) | shares

35,803,197

73,577,641

35,803,197

Subscribed capital [member] | Ordinary shares [member]

Par value per share (in EUR per share) | € / shares

€ 0.06

Subscribed capital [member] | High-voting shares [member]

Par value per share (in EUR per share) | € / shares

€ 1.50

Issued capital [member]

133,000

^[1]

€ 104,000

^[1]

2,000

^[2]

Increase (decrease) through share-based payment transactions, equity

1,835,000

Issued capital [member] | Ordinary shares [member]

Issued capital [member] | High-voting shares [member]

€ 1,835,000

4,500,000

Capital reserve [member]

€ 37,302,000

^[1]

35,904,000

^[1]

5,187,000

^[2]

Increase (decrease) through share-based payment transactions, equity

(1,835,000)

Capital reserve [member] | Ordinary shares [member]

Capital reserve [member] | High-voting shares [member]

1,835,000

€ 4,500,000

Other reserves [member]

^[1]

^[2]

Increase (decrease) through share-based payment transactions, equity

1,981,000

32,160,000

Bottom of range [member] | Subordinated loans [member]

Bottom of range [member] | Participation rights [member]

Loan term (Year)

1 year

Top of range [member] | Subordinated loans [member]

Number of cars reserved

2,000

Equipment or hardware [member]

Loan term (Year)

4 years

Additions other than through business combinations, property, plant and equipment

254,000

Advance payments to technical equipment and machinery [member]

Depreciation, property, plant and equipment

Additions other than through business combinations, property, plant and equipment

634,000

Impairment loss recognised in profit or loss, property, plant and equipment

1,965,000

(0)

Research and development [member]

Depreciation and amortisation, research and development

22,000

Selling and distribution costs [member]

Depreciation and amortisation, selling and distributions expense

4,000

11,000

General and administrative expenses [member]

Depreciation and amortisation, general and administrative

8,000

Property, plant and equipment 1 [member]

Depreciation and amortisation, research and development

70,000

28,000

19,000

Depreciation and amortisation, selling and distributions expense

27,000

15,000

18,000

Depreciation and amortisation, general and administrative

€ 28,000

18,000

13,000

Buildings [member] | Bottom of range [member]

Buildings [member] | Top of range [member]

6 years

Vehicles [member] | Bottom of range [member]

10 years

Vehicles [member] | Top of range [member]

2 years

Right-of-use assets [member]

3 years

Depreciation and amortisation, research and development

€ 192,000

144,000

61,000

Depreciation and amortisation, selling and distributions expense

45,000

77,000

56,000

Depreciation and amortisation, general and administrative

178,000

92,000

€ 46,000

PayPal reserve [member] | Paypal reserve released [member]

Other current financial assets

Reserve Released

€ 5,900,000

€ 100,000

Receivable for VAT and other taxes [member]

Other current non-financial assets

€ 257,000

2,069,000

257,000

Prepaid expenses for software [member]

Other current non-financial assets

€ 256,000

€ 669,000

€ 256,000

[1]	transaction costs of kEUR 2,192 were deducted from capital reserve
[2]	transaction costs of kEUR 109 were deducted from capital reserve

Note 7 - Balance Sheet Disclosures - Intangible Assets (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Statement Line Items [Line Items]
Balance as of Jan. 1	€ 43	€ 43
Additions	224	0
Balance as of Dec. 31	267	43	€ 43
Balance as of Jan. 1	27	16
Amortization of intangible assets	34	11	11
Balance as of Dec. 31	61	27	16
Carrying Amount as of Jan. 1	16	27
Carrying Amount as of Dec. 31	206	16	27
Website [member]
Statement Line Items [Line Items]
Balance as of Jan. 1	43	43
Additions	2	0
Balance as of Dec. 31	45	43	43
Balance as of Jan. 1	27	16
Amortization of intangible assets	11	11
Balance as of Dec. 31	38	27	16
Carrying Amount as of Jan. 1	16	27
Carrying Amount as of Dec. 31	7	16	27
Software [member]
Statement Line Items [Line Items]
Balance as of Jan. 1	0	0
Additions	222	0
Balance as of Dec. 31	222	0	0
Balance as of Jan. 1	0	0
Amortization of intangible assets	23	0
Balance as of Dec. 31	23	0	0
Carrying Amount as of Jan. 1	0	0
Carrying Amount as of Dec. 31	€ 199	€ 0	€ 0

Note 7 - Balance Sheet Disclosures - Property, Plant and Equipment (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Statement Line Items [Line Items]
Acquisition or manufacturing costs Jan. 1	€ 2,246	€ 2,552
Additions	1,472	42
Reclassifications	0
Deductions	0	348
Impairment	(1,965)	0	€ 0
Acquisition or manufacturing costs Dec. 31	1,753	2,246	2,552
Accumulated depreciation Jan. 1	144	83
Depreciation	125	61	50
Accumulated depreciation Dec. 31	269	144	83
Carrying Amount Jan. 1	2,102	2,469
Carrying Amount Dec. 31	1,484	2,102	2,469
Equipment and hardware [member]
Statement Line Items [Line Items]
Acquisition or manufacturing costs Jan. 1	281	239
Additions	546	42
Reclassifications	221
Deductions	0	0
Impairment	0	0
Acquisition or manufacturing costs Dec. 31	1,048	281	239
Accumulated depreciation Jan. 1	144	83
Depreciation	125	61
Accumulated depreciation Dec. 31	269	144	83
Carrying Amount Jan. 1	137	156
Carrying Amount Dec. 31	779	137	156
Advance payments to technical equipment and machinery [member]
Statement Line Items [Line Items]
Acquisition or manufacturing costs Jan. 1	1,965	2,313
Additions	926	0
Reclassifications	(221)
Deductions	0	348
Impairment	(1,965)	0
Acquisition or manufacturing costs Dec. 31	705	1,965	2,313
Accumulated depreciation Jan. 1	0	0
Depreciation	0	0
Accumulated depreciation Dec. 31	0	0	0
Carrying Amount Jan. 1	1,965	2,313
Carrying Amount Dec. 31	€ 705	€ 1,965	€ 2,313

Note 7 - Balance Sheet Disclosures - Right-of-use Assets (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Statement Line Items [Line Items]
Right-of-use assets on January 1, 2021	€ 1,937	€ 2,235
Additions to right-of-use assets	1,496	15	2,397
Depreciation of right-of-use assets	415	313	163
Right-of-use assets on December 31, 2021	3,018	1,937	2,235
Interest expense on lease liabilities	56	39	23
Expense relating to short-term leases	0	0	84
Total cash outflow for leases	435	323	276
Buildings [member]
Statement Line Items [Line Items]
Right-of-use assets on January 1, 2021	1,906	2,211
Additions to right-of-use assets	1,496	0	2,372
Depreciation of right-of-use assets	405	305	161
Right-of-use assets on December 31, 2021	2,997	1,906	2,211
Interest expense on lease liabilities	52	35	22
Expense relating to short-term leases	0	0	84
Total cash outflow for leases	423	311	271
Cars [member]
Statement Line Items [Line Items]
Right-of-use assets on January 1, 2021	31	24
Additions to right-of-use assets	0	15	25
Depreciation of right-of-use assets	10	8	1
Right-of-use assets on December 31, 2021	21	31	24
Interest expense on lease liabilities	4	4	1
Expense relating to short-term leases	0	0
Total cash outflow for leases	€ 12	€ 12	€ 5

Note 7 - Balance Sheet Disclosures - Maturity Profiles of Future Lease Payments (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Statement Line Items [Line Items]
Total cash outflow for leases	€ 435	€ 323	€ 276
Buildings [member]
Statement Line Items [Line Items]
Total cash outflow for leases	423	311	271
Cars [member]
Statement Line Items [Line Items]
Total cash outflow for leases	12	12	€ 5
Not later than one year [member]
Statement Line Items [Line Items]
Total cash outflow for leases	503	323
Not later than one year [member] \| Buildings [member]
Statement Line Items [Line Items]
Total cash outflow for leases	488	311
Not later than one year [member] \| Cars [member]
Statement Line Items [Line Items]
Total cash outflow for leases	15	12
Later than one year and not later than five years [member]
Statement Line Items [Line Items]
Total cash outflow for leases	2,000	1,326
Later than one year and not later than five years [member] \| Buildings [member]
Statement Line Items [Line Items]
Total cash outflow for leases	1,988	1,302
Later than one year and not later than five years [member] \| Cars [member]
Statement Line Items [Line Items]
Total cash outflow for leases	12	24
Later than five years [member]
Statement Line Items [Line Items]
Total cash outflow for leases	810	421
Later than five years [member] \| Buildings [member]
Statement Line Items [Line Items]
Total cash outflow for leases	810	421
Later than five years [member] \| Cars [member]
Statement Line Items [Line Items]
Total cash outflow for leases	€ 0	€ 0

Note 7 - Balance Sheet Disclosures - Other Current Financial Assets (Details) - EUR (€) € in Thousands	Dec. 31, 2021	Dec. 31, 2020
Statement Line Items [Line Items]
PayPal reserve	€ 6,000	€ 4,655
Receivables from crowdfunding and deposits	169	179
Debtors creditors	26	539
Current trade receivables	20	0
Current receivables (affiliated companies)	11	11
Other	7	20
Total	€ 6,233	€ 5,404

Note 7 - Balance Sheet Disclosures - Cash and Cash Equivalent (Details) - EUR (€) € in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Statement Line Items [Line Items]
Bank balances	€ 132,947	€ 43,266
Allowance for expected credit losses	(8)	(2)
Total	€ 132,939	€ 43,264	€ 407	€ 1,515

Note 7 - Balance Sheet Disclosures - Advance Payments received from customers (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Statement Line Items [Line Items]
Advance payments received from customers	€ 44,756	€ 38,972
Balance as of Jan 1	38,972	11,164
Additions	5,198	30,565
Repayment	(912)	(4,117)
Net interest	1,498	1,360
Balance as of Dec 31	€ 44,756	€ 38,972

Note 7 - Balance Sheet Disclosures - Changes in Loans and Participation Rights (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Statement Line Items [Line Items]
Balance at Jan 1	€ 12,784	€ 6,235
Addition		10,820
Accrued interest	276	435
Repayment	(2,475)	(3,058)
Conversion to equity	(6,800)	(1,648)
Balance at Dec 31	3,785	12,784
Gross carrying amount [member]
Statement Line Items [Line Items]
Balance at Jan 1	12,766	6,250
Addition	0
Conversion to equity	(9,661)	(1,648)
Initial recognition	0	10,739
Subsequent measurement	2,936	482
Derecognition	(2,291)	(3,058)
Balance at Dec 31	3,750	12,766
Loan 1 [member]
Statement Line Items [Line Items]
Balance at Jan 1	1,271	0
Addition		1,225
Accrued interest	50	46
Repayment	(36)	0
Conversion to equity	0	0
Balance at Dec 31	1,285	1,271
Loan 1 [member] \| Gross carrying amount [member]
Statement Line Items [Line Items]
Balance at Jan 1	1,271	0
Addition	0
Conversion to equity	0	0
Initial recognition	0	1,225
Subsequent measurement	14	46
Derecognition	0	0
Balance at Dec 31	1,285	1,271
Loan 2 [member]
Statement Line Items [Line Items]
Balance at Jan 1	200	295
Addition		0
Accrued interest	0	12
Repayment	(200)	(107)
Conversion to equity	0	0
Balance at Dec 31	0	200
Loan 2 [member] \| Gross carrying amount [member]
Statement Line Items [Line Items]
Balance at Jan 1	200	295
Addition	0
Conversion to equity	0	0
Initial recognition	0	0
Subsequent measurement	0	12
Derecognition	(200)	(107)
Balance at Dec 31	0	200
Loan 3 [member]
Statement Line Items [Line Items]
Balance at Jan 1	0	2,590
Addition		0
Accrued interest	0	277
Repayment	0	(1,219)
Conversion to equity	0	(1,648)
Balance at Dec 31	0	0
Loan 3 [member] \| Gross carrying amount [member]
Statement Line Items [Line Items]
Balance at Jan 1	0	2,583
Addition	0
Conversion to equity	0	(1,648)
Initial recognition	0	0
Subsequent measurement	0	284
Derecognition	0	(1,219)
Balance at Dec 31	0	0
Subordinated loans [member]
Statement Line Items [Line Items]
Balance at Jan 1	3,131	1,967
Addition		2,795
Accrued interest	174	101
Repayment	(805)	(1,731)
Conversion to equity	0	0
Balance at Dec 31	2,500	3,131
Subordinated loans [member] \| Gross carrying amount [member]
Statement Line Items [Line Items]
Balance at Jan 1	3,062	2,026
Addition	0
Conversion to equity	0	0
Initial recognition	0	2,714
Subsequent measurement	58	53
Derecognition	(655)	(1,731)
Balance at Dec 31	2,465	3,062
Mandatory convertible notes [member]
Statement Line Items [Line Items]
Balance at Jan 1	6,800	0
Addition		6,800
Accrued interest	0	0
Repayment	0	0
Conversion to equity	(6,800)	0
Balance at Dec 31	0	6,800
Mandatory convertible notes [member] \| Gross carrying amount [member]
Statement Line Items [Line Items]
Balance at Jan 1	6,859	0
Addition	0
Conversion to equity	(9,661)	0
Initial recognition	0	6,800
Subsequent measurement	2,802	59
Derecognition	0	0
Balance at Dec 31	0	6,859
Participation rights [member]
Statement Line Items [Line Items]
Balance at Jan 1	1,383	1,383
Addition		0
Accrued interest	52	0
Repayment	(1,435)	0
Conversion to equity	0	0
Balance at Dec 31	0	1,383
Participation rights [member] \| Gross carrying amount [member]
Statement Line Items [Line Items]
Balance at Jan 1	1,374	1,346
Addition	0
Conversion to equity	0	0
Initial recognition	0	0
Subsequent measurement	62	28
Derecognition	(1,436)	0
Balance at Dec 31	€ 0	€ 1,374

Note 7 - Balance Sheet Disclosures - Financial Liabilities (Details) - EUR (€) € in Thousands	Dec. 31, 2021	Dec. 31, 2020
Statement Line Items [Line Items]
Loans and participation rights	€ 3,718	€ 3,665
Lease liabilities	2,635	1,669
Total non-current financial liabilities	6,353	5,335
Loans and participation rights	31	2,240
Mandatory convertible notes	0	6,859
Lease liabilities	441	289
Total current financial liabilities	€ 472	€ 9,388

Note 7 - Balance Sheet Disclosure - Trade and other payables (Details) - EUR (€) € in Thousands	Dec. 31, 2021	Dec. 31, 2020
Statement Line Items [Line Items]
Trade payables	€ 6,866	€ 2,642
Other payables	715	232
Total trade and other current payables	€ 7,582	€ 2,874

Note 7 - Balance Sheet Disclosure - Provisions and Contingent Liabilities - Current Other Liabilities (Details) - EUR (€) € in Thousands	Dec. 31, 2021	Dec. 31, 2020
Statement Line Items [Line Items]
Accruals and deferrals	€ 2,011	€ 1,463
Employee tax liabilities (wage and church tax)	372	146
Tax liabilities (VAT taxes and interest)	109	80
Other current liabilities	€ 2,492	€ 1,689

Note 7 - Balance Sheet Disclosure - Provisions and Contingent Liabilities (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Statement Line Items [Line Items]
Other provisions, Balance at Jan 1	€ 0	€ 0
Other provisions, Usage	0	0
Other provisions, Reversals	0	0
Other provisions, Additions	65	0
Other provisions, Balance at Dec 31	65	0
Personnel costs, Balance at Jan 1	0	584
Personnel costs, Usage	0	(584)
Personnel costs, Reversals	0	0
Personnel costs, Additions	0	0
Personnel costs, Balance at Dec 31	0	0
Financial statements, Balance at Jan 1	111	52
Financial statements, Usage	(111)	(46)
Financial statements, Reversals	0	0
Financial statements, Additions	2,137	105
Financial statements, Balance at Dec 31	2,137	111
Balance at Jan 1	111	636
Usage	(111)	(630)
Reversals	0	0
Additions	2,202	105
Balance at Dec 31	€ 2,202	€ 111

Note 8 - Disclosure of Financial Instruments and Risk Management (Details Textual) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Statement Line Items [Line Items]
Interest expense	€ 4,781	€ 2,040	€ 702
Trade and other receivables denominated in foreign currency	0
Total equity	83,439	(5,026)	(18,568)	€ (13,786)
Total financial liabilities at fair value through profit or loss	0	6,859
Repayments of borrowings	2,187	2,327	(0)
Level 3 of fair value hierarchy [member]
Statement Line Items [Line Items]
Total losses (gains) recognised in other comprehensive income including exchange differences, fair value measurement, liabilities	(16)	21
Level 3 of fair value hierarchy [member] \| Mandatory convertible notes [member]
Statement Line Items [Line Items]
Total losses (gains) recognised in other comprehensive income including exchange differences, fair value measurement, liabilities	(16)	21
Interest rate risk [member]
Statement Line Items [Line Items]
Interest expense	€ 156	49	€ 0
Credit risk [member]
Statement Line Items [Line Items]
Repayments of borrowings		€ 1,662

Note 8 - Disclosure of Financial Instruments and Risk Management - Other Current and Noncurrent Financial Assets (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Statement Line Items [Line Items]
Opening loss allowance as at January 1	€ 6	€ 0
Additions recognized in profit or loss during the period	6	6
Utilization	(2)	0
Closing loss allowance as at December 31	€ 10	€ 6

Note 8 - Disclosure of Financial Instruments and Risk Management - Credit Risk Rating Grades (Details) - EUR (€) € in Thousands	Dec. 31, 2021	Dec. 31, 2020
Credit risk [member] \| Risk Class 1 [member]
Statement Line Items [Line Items]
Gross carrying amount	€ 139,273	€ 48,715

- Definition

The amount of assets that are: (a) cash; (b) an equity instrument of another entity; (c) a contractual right: (i) to receive cash or another financial asset from another entity; or (ii) to exchange financial assets or financial liabilities with another entity under conditions that are potentially favourable to the entity; or (d) a contract that will, or may be, settled in the entity’s own equity instruments and is: (i) a non-derivative for which the entity is, or may be, obliged to receive a variable number of the entity’s own equity instruments; or (ii) a derivative that will, or may be, settled other than by the exchange of a fixed amount of cash or another financial asset for a fixed number of the entity’s own equity instruments. For this purpose the entity’s own equity instruments do not include puttable financial instruments classified as equity instruments in accordance with paragraphs 16A-16B of IAS 32, instruments that impose on the entity an obligation to deliver to another party a pro rata share of the net assets of the entity only on liquidation and are classified as equity instruments in accordance with paragraphs 16C-16D of IAS 32, or instruments that are contracts for the future receipt or delivery of the entity’s own equity instruments. [Refer: Financial instruments, class [member]; Financial liabilities]

+ References + Details

Note 8 - Disclosure of Financial Instruments and Risk Management - Financial Liabilities (Details) - EUR (€) € in Thousands	Dec. 31, 2021	Dec. 31, 2020
Statement Line Items [Line Items]
Trade and other payables	€ 7,582	€ 2,874
Loans and participation rights	3,749	5,905
Lease liabilities	3,076	1,958
Mandatory convertible notes	0	6,859
Total December 31, 2021	14,407	17,596
Not later than one year [member]
Statement Line Items [Line Items]
Trade and other payables	7,582	2,874
Loans and participation rights	186	2,489
Lease liabilities	503	323
Mandatory convertible notes	0	9,286
Total December 31, 2021	8,271	14,972
Later than one year and not later than five years [member]
Statement Line Items [Line Items]
Trade and other payables	0	0
Loans and participation rights	4,134	4,260
Lease liabilities	2,000	1,326
Mandatory convertible notes	0	0
Total December 31, 2021	6,134	5,586
Later than five years [member]
Statement Line Items [Line Items]
Trade and other payables	0	0
Loans and participation rights	0	0
Lease liabilities	810	421
Mandatory convertible notes	0	0
Total December 31, 2021	€ 810	€ 421

- Definition

The amount of liabilities that are: (a) a contractual obligation: (i) to deliver cash or another financial asset to another entity; or (ii) to exchange financial assets or financial liabilities with another entity under conditions that are potentially unfavourable to the entity; or (b) a contract that will, or may be, settled in the entity’s own equity instruments and is: (i) a non-derivative for which the entity is, or may be, obliged to deliver a variable number of the entity’s own equity instruments; or (ii) a derivative that will, or may be, settled other than by the exchange of a fixed amount of cash or another financial asset for a fixed number of the entity’s own equity instruments. For this purpose, rights, options or warrants to acquire a fixed number of the entity’s own equity instruments for a fixed amount of any currency are equity instruments if the entity offers the rights, options or warrants pro rata to all of its existing owners of the same class of its own non-derivative equity instruments. Also, for those purposes the entity’s own equity instruments do not include puttable financial instruments that are classified as equity instruments in accordance with paragraphs 16A-16B of IAS 32, instruments that impose on the entity an obligation to deliver to another party a pro rata share of the net assets of the entity only on liquidation and are classified as equity instruments in accordance with paragraphs 16C-16D of IAS 32, or instruments that are contracts for the future receipt or delivery of the entity’s own equity instruments. As an exception, an instrument that meets the definition of a financial liability is classified as an equity instrument if it has all the features and meets the conditions in paragraphs 16A-16B or paragraphs 16C-16D of IAS 32. [Refer: Financial instruments, class [member]; Financial assets; Derivatives [member]]

+ References + Details

Note 8 - Disclosure of Financial Instruments and Risk Management - Currency Risk (Details) - Currency risk [member] € in Thousands, ¥ in Thousands, £ in Thousands, kr in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2021 EUR (€)	Dec. 31, 2020 EUR (€)	Dec. 31, 2021 USD ($)	Dec. 31, 2021 CNY (¥)	Dec. 31, 2021 SEK (kr)	Dec. 31, 2021 GBP (£)	Dec. 31, 2020 USD ($)	Dec. 31, 2020 CNY (¥)	Dec. 31, 2020 SEK (kr)	Dec. 31, 2020 GBP (£)
Statement Line Items [Line Items]
USD	€ 26,877	€ 0	$ 30,425				$ 0
Cash denominated in foreign currencies	26,877	0					0
CNY	916	0		¥ 6,616				¥ 0
USD	127	0	$ 144				$ 0
SEK	12	0			kr 120				kr 0
GBP	2	0				£ 1				£ 0
Liabilities denominated in foreign currencies	1,057	0
USD	(2,432)	0
CNY	83	0
SEK	1	0
GBP	0	0
Consolidated profit before taxes and equity denominated in foreign currency	(2,348)	0
USD	2,972	0
CNY	(102)	0
SEK	(1)	0
Consolidated profit before taxes and equity 10% denominated in foreign currency	€ 2,869	€ 0

Note 8 - Disclosure of Financial Instruments and Risk Management - Financial Assets and Liabilities (Details) - EUR (€) € in Thousands	Dec. 31, 2021	Dec. 31, 2020
Statement Line Items [Line Items]
Financial liabilities	€ 6,353	€ 5,335
Current financial liabilities	472	9,388
Financial assets measured at amortized cost (AC)	139,263	48,709
Financial liabilities measured at amortized cost (FLAC)	11,331	8,779
Financial liabilities measured at fair value through profit or loss (FVTPL)	0	6,859
Security deposits [member]
Statement Line Items [Line Items]
Noncurrent financial assets	91
Security deposits [member] \| Level 2 of fair value hierarchy [member]
Statement Line Items [Line Items]
financial assets, fair value	89
Deposits [member]
Statement Line Items [Line Items]
Noncurrent financial assets		41
Deposits [member] \| Level 2 of fair value hierarchy [member]
Statement Line Items [Line Items]
financial assets, fair value		42
PayPal reserve [member]
Statement Line Items [Line Items]
Current financial assets	6,000	4,655
Receivables from crowdfunding and deposits [member]
Statement Line Items [Line Items]
Current financial assets	169	179
Debtor creditors [member]
Statement Line Items [Line Items]
Current financial assets	26	539
Trade receivables [member]
Statement Line Items [Line Items]
Current financial assets	20
Other [member]
Statement Line Items [Line Items]
Current financial assets	7	31
Trade receivable, affiliated company [member]
Statement Line Items [Line Items]
Current financial assets	11
Cash and cash equivalents [member]
Statement Line Items [Line Items]
Current financial assets	132,939	43,264
Loan and participation rights, noncurrent [member]
Statement Line Items [Line Items]
Financial liabilities	3,718	3,665
Current financial liabilities	31	2,240
Loan and participation rights, noncurrent [member] \| Level 3 of fair value hierarchy [member]
Statement Line Items [Line Items]
Financial liabilities, fair value	3,466	3,308
Lease liabilities, current [member]
Statement Line Items [Line Items]
Financial liabilities	2,635	1,669
Lease liabilities, current [member] \| Level 3 of fair value hierarchy [member]
Statement Line Items [Line Items]
Financial liabilities, fair value	0	0
Lease liabilities, noncurrent [member]
Statement Line Items [Line Items]
Current financial liabilities	441	289
Lease liabilities, noncurrent [member] \| Level 3 of fair value hierarchy [member]
Statement Line Items [Line Items]
Financial liabilities, fair value	0	0
Mandatory convertible notes [member]
Statement Line Items [Line Items]
Current financial liabilities	0	6,859
Mandatory convertible notes [member] \| Level 3 of fair value hierarchy [member]
Statement Line Items [Line Items]
Financial liabilities, fair value	0	6,859
Trade and other payables [member]
Statement Line Items [Line Items]
Current financial liabilities	€ 7,582	€ 2,874

Note 8 - Disclosure of Financial Instruments and Risk Management - Quantitative Information About Significant Unobservable Inputs Used (Details) - Level 3 of fair value hierarchy [member] € in Thousands	12 Months Ended
	Dec. 31, 2020 EUR (€)	Dec. 31, 2021 EUR (€)	Dec. 31, 2019 EUR (€)
Statement Line Items [Line Items]
Fair value	€ 6,859	€ 0	€ 0
Mandatory convertible notes [member]
Statement Line Items [Line Items]
Fair value	€ 6,859	€ 0
Mandatory convertible notes [member] \| Probability of exit event [member]
Statement Line Items [Line Items]
Input	(0.75)
Increase in probability	€ 2,170
Decrease in probability	€ (2,170)
Mandatory convertible notes [member] \| Bottom of range [member] \| Probability of exit event [member]
Statement Line Items [Line Items]
Input	0.50
Mandatory convertible notes [member] \| Top of range [member] \| Probability of exit event [member]
Statement Line Items [Line Items]
Input	1

Note 8 - Disclosure of Financial Instruments and Risk Management - Changes in Level 3 Items (Details) - Level 3 of fair value hierarchy [member] - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Statement Line Items [Line Items]
Balance at beginning of year	€ 6,859	€ 0
New transactions	0	6,800
Amount presented in other comprehensive income (OCI)	(16)	21
Amount presented in profit or loss (interest and other expenses)	2,818	38
Payment for fractional shares	0	0
Conversion to equity	(9,661)	0
Other comprehensive income	(5)	0
Accumulated deficit	5	0
Balance at end of year	€ 0	€ 6,859

Note 8 - Disclosure of Financial Instruments and Risk Management - Total Interest Income and Expenses (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Statement Line Items [Line Items]
Total interest expense for financial assets at amortized cost	€ 156	€ 43	€ 1
Total interest expense for financial liabilities at amortized cost	€ 319	€ 560	€ 287

Note 8 - Disclosure of Financial Instruments and Risk Management - Net Gains or Losses of Financial Instruments (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Statement Line Items [Line Items]
Net loss for financial assets at amortized cost	€ 162	€ 49	€ 1
Net loss for financial liabilities at amortized cost	319	560	287
Net loss for financial liabilities at fair value through profit or loss	€ 2,802	€ 59	€ 0

Note 9 - Other Disclosures (Details Textual)
€ / shares in Units, € in Thousands

12 Months Ended

Nov. 19, 2021

€ / shares

Dec. 31, 2021

EUR (€)

€ / shares

Dec. 31, 2020

EUR (€)

€ / shares

Dec. 31, 2019

EUR (€)

€ / shares

Post-employment benefit expense, defined contribution plans

€ 1,047

€ 491

€ 329

Income from government grants

€ 15

Government grants

136

Government grants, payment installment amount

€ 68

Government grants, deferral period (Month)

18 months

Proceeds from government grants

€ 18

Share-based payment arrangements, exit event, percentage of shares or assets sold or transferred

95.00%

Vesting term after exit-event, share options granted (Year)

1 year

Expiration term after exit-event, share options granted (Year)

4 years

Weighted average remaining contractual life of outstanding share options (Year)

3 years 10 months 24 days

Exercise price, share options granted (in EUR per share) | € / shares

€ 0.06

Number of supervisory board members

Adjusted weighted average number of ordinary shares outstanding (in shares) | shares

59,836,824

57,684,220

56,860,720

Diluted earnings (loss) per share, before bonus share adjustment (in EUR per share) | € / shares

€ 1.66

€ 0.30

Total diluted earnings (loss) per share (in EUR per share) | € / shares

€ 0.97

€ 0.18

Key management personnel compensation, share-based payment

^[1]

€ 1,898

€ 5,829

€ 0

Debt to equity swap

€ 1,648

Former key management personnel [member]

Key management personnel compensation, share-based payment

2,577

Sono Motors Investment UG [member]

€ 185

Equity-settled program [member]

4.00%

Number of additional employees offered share based payment arrangement transfer

Number of additional employees, active, share based payment arrangement

Number of additional employees, former, share-based payment arrangement

Cash-settled program [member]

Liabilities from share-based payment transactions

€ 0

Options with service conditions [member]

Vesting period, share options granted (Month)

36 months

Share options without service conditions [member]

Restricted stock units [member]

Weighted average remaining contractual life of outstanding share options (Year)

9 years 10 months 24 days

Exercise price, share options granted (in EUR per share) | € / shares

€ 0.00

Vesting, number of installments, other equity instruments

Vesting period, other equity instruments (Year)

4 years

[1]	thereof kEUR 2,577 for key management personnel leaving in 2019

Note 9 - Other Disclosures - Share-based Employee Participation Program (Details)	Dec. 31, 2021	Dec. 31, 2020
Cash-settled program [member]
Statement Line Items [Line Items]
Number of employees	1
Cash-settled program [member] \| Staff members [member]
Statement Line Items [Line Items]
Number of employees	1
Cash-settled program [member] \| Managers [member]
Statement Line Items [Line Items]
Number of employees	0
Equity-settled program [member]
Statement Line Items [Line Items]
Number of employees	88	88
Equity-settled program [member] \| Staff members [member]
Statement Line Items [Line Items]
Number of employees	85
Equity-settled program [member] \| Managers [member]
Statement Line Items [Line Items]
Number of employees	3

Note 9 - Other Disclosures - Options Granted (Details) € / shares in Units, € in Thousands	12 Months Ended
	Dec. 31, 2021 EUR (€) € / shares	Dec. 31, 2020 EUR (€) € / shares	Dec. 31, 2019
Statement Line Items [Line Items]
Number of options granted	1,805,100	1,805,100	0
Weighted average fair value at grant date (EUR) (in EUR per share) \| € / shares	€ 19.26	€ 19.26
Increase in equity (kEUR)	€ 1,981	€ 32,160
Share options [member]
Statement Line Items [Line Items]
Expense of the period (kEUR)	1,898	32,160
Increase in equity (kEUR)	€ 1,898	€ 32,160

Note 9 - Other Disclosures - Number and Movement in Share Options (Details)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Statement Line Items [Line Items]
Balance at Jan 1	1,805,100	0
Granted	0	1,805,100
Forfeited	0	0
Balance at Dec 31	1,805,100	1,805,100

Note 9 - Other Disclosures - Fair Value of the Share Options (Details) € / shares in Units, € in Thousands	12 Months Ended
	Dec. 31, 2021 EUR (€) € / shares
Statement Line Items [Line Items]
Weighted average share price (EUR) (in EUR per share)	€ 22.01
Exercise price, share options granted (in EUR per share)	€ 0.06
Expected volatility	75.00%
Option life (yrs.)	1.29
Expected dividends (EUR) \| €	€ 0
Risk-free interest rate	(0.73%)
Lack of marketability discount	14.39%

Note 9 - Other Disclosures - RSUs Granted (Details) € / shares in Units, € in Thousands	12 Months Ended
	Dec. 31, 2021 EUR (€) € / shares	Dec. 31, 2020 EUR (€)
Statement Line Items [Line Items]
Increase in equity (kEUR)	€ 1,981	€ 32,160
Restricted stock units [member]
Statement Line Items [Line Items]
Number of options granted	86,411	0
Weighted average fair value at measurement date (EUR) (in EUR per share) \| € / shares	€ 14.74
Expense of the period (kEUR)	€ 83
Increase in equity (kEUR)	€ 83

Note 9 - Other Disclosures - Number and Movement in RSUs (Details) - Restricted stock units [member]	12 Months Ended
	Dec. 31, 2021
Statement Line Items [Line Items]
January 1, 2021	0
Granted	86,411
Forfeited	0
December 31, 2021	86,411

Note 9 - Other Disclosures - Earnings Per Share (Details) - € / shares	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Statement Line Items [Line Items]
From continuing operations attributable to the ordinary equity holders of the company (in EUR per share)	€ (1.07)	€ (0.97)	€ (0.18)
Total basic earnings (loss) per share	€ (1.07)	€ (0.97)	€ (0.18)

Note 9 - Other Disclosures - Compensation of Key Management Personnel (Details) - EUR (€)
€ in Thousands

12 Months Ended

Dec. 31, 2021

Dec. 31, 2020

Dec. 31, 2019