| Financial instruments | 7. Financial instruments The following tables show the carrying amounts and fair values of financial assets and financial liabilities, including their levels in the fair value hierarchy. Carrying amount Fair Value (€ in thousands) Assets at Liabilities Total FVTPL FVOCI amortized at amortized carrying 6/30/2022 cost cost amount Level 1 Level 2 Level 3 Total Total assets 4,664 4 20,960 — 25,628 Current assets 3,937 — 20,960 — 24,897 Cash and cash equivalents — — 12,539 — 12,539 Other financial assets 3,937 — 2,048 — 5,985 — 3,937 — 3,937 Derivative financial instruments 3,937 — — — 3,937 — 3,937 — 3,937 Restricted cash — — 2,048 — 2,048 — — — — Trade receivables, net — — 6,373 — 6,373 Non-current assets 727 4 — — 731 Other financial assets 727 4 — — 731 4 727 — 731 Derivative financial instruments 727 — — — 727 — 727 — 727 Equity securities — 4 — — 4 4 — — 4 Total liabilities — — — 27,370 30,352 Current liabilities — — — 17,529 18,362 Trade payables — — — 2,821 2,821 Other financial liabilities — — — 14,708 15,541 — — 14,493 14,493 Current portion of long-term debt — — — 14,708 14,708 — — 14,493 14,493 Lease liability — — — — 833 — — — n/a Non-current liabilities — — — 9,841 11,990 Other financial liabilities — — — 9,841 11,990 — — 9,029 9,029 Long-term debt — — — 9,841 9,841 — — 9,029 9,029 Lease liability — — — — 2,133 — — — n/a Security deposit — — — — 16 — — — n/a Carrying amount Fair Value (€ in thousands) Assets at Liabilities Total FVTPL FVOCI amortized at amortized carrying 12/31/2021 cost cost amount Level 1 Level 2 Level 3 Total Total assets 13,525 4 18,131 — 31,660 Current assets 13,525 — 18,131 — 31,656 Cash and cash equivalents — — 7,027 — 7,027 Other financial assets 13,525 — 4,997 — 18,522 10,699 2,826 — 13,525 Bond funds 10,699 — — — 10,699 10,699 — — 10,699 Term deposit — — 2,655 — 2,655 — — — — Restricted cash — — 2,342 2,342 — — — — Derivative financial instruments 2,826 — — — 2,826 — 2,826 — 2,826 Trade receivables, net — — 6,107 — 6,107 Non-current assets — 4 — — 4 Other financial assets — 4 — — 4 4 — — 4 Equity securities — 4 — — 4 4 — — 4 Total liabilities 516 — — 26,672 30,414 Current liabilities — — — 16,879 17,476 Trade payables — — — 2,594 2,594 Other financial liabilities — — — 14,285 14,882 — — 15,362 15,362 Current portion of long-term debt — — — 14,285 14,285 — — 15,362 15,362 Lease liability — — — — 597 — — — n/a Non-current liabilities 516 — — 9,793 12,938 Other financial liabilities 516 — — 9,793 12,938 — 516 13,826 14,342 Derivative financial instruments 516 — — — 516 — 516 — 516 Long-term debt — — — 9,793 9,793 — — 13,826 13,826 Lease liability — — — — 2,613 — — — n/a Security deposit — — — — 16 — — — n/a The valuation techniques used to determine the fair value of financial instruments include the use of quoted market prices or dealer quotes for similar instruments as well as discounted cash flow analysis. The fair value of the Company’s investments in the bond funds was determined based on the quoted unit prices received by the fund management company. The fair value of equity securities is determined by multiplying their share price and the number of shares held. The fair values of the derivative financial instruments that are not traded in an active market are determined using valuation techniques which maximize the use of observable market data and rely as little as possible on entity-specific estimates. The fair values have been determined based on share prices and the relevant discount rates. The fair value of long-term debt was determined using discounted cash flow models based on the relevant forward interest rate yield curves, considering the credit risk of voxeljet. Due to their short maturity and the current low level of interest rates, the carrying amounts of cash and cash equivalents, restricted cash, trade receivables, trade payables, term deposit, credit lines and bank overdrafts approximate their fair values. The Group’s policy is to recognize transfers into and transfers out of fair value hierarchy levels as of the end of each quarter. As of June 30, 2022, there were no transfers of financial instruments measured at fair value between level 1, level 2 and level 3. As of June 30, 2022, the Company was in compliance with all covenants related to the loan granted by the EIB. |
