JMH’s leases relate mostly to head office and vehicles rent contracts, with initial terms between 3 and 4 years. The lease agreements do not impose any covenants. Regarding the incremental borrowing rate used to measure lease liabilities, the weighted-average rate applied by JMH, as of 31 December 2025, was 6.03% (5.47% as of 31 December 2024).
11.1. Right-of-use assets
2025 |
|
Buildings |
|
Transport |
|
Total |
|---|---|---|---|---|---|---|
Gross amount |
|
|
|
|
|
|
Opening balance |
|
1,794 |
|
2,957 |
|
4,752 |
New contracts |
|
– |
|
1,833 |
|
1,833 |
Contracts update |
|
22 |
|
– |
|
22 |
Contracts cancellation |
|
– |
|
(571) |
|
(571) |
Closing balance |
|
1,817 |
|
4,220 |
|
6,037 |
Depreciation and impairment losses |
|
|
|
|
|
|
Opening balance |
|
789 |
|
1,332 |
|
2,121 |
Increases |
|
373 |
|
950 |
|
1,323 |
Contracts cancellation |
|
– |
|
(544) |
|
(544) |
Closing balance |
|
1,162 |
|
1,739 |
|
2,901 |
Net value |
|
|
|
|
|
|
As at 1 January 2025 |
|
1,006 |
|
1,625 |
|
2,631 |
As at 31 December 2025 |
|
655 |
|
2,481 |
|
3,136 |
2024 |
|
Buildings |
|
Transport |
|
Total |
|---|---|---|---|---|---|---|
Gross amount |
|
|
|
|
|
|
Opening balance |
|
1,794 |
|
2,075 |
|
3,870 |
New contracts |
|
– |
|
1,319 |
|
1,319 |
Contracts update |
|
– |
|
(5) |
|
(5) |
Contracts cancellation |
|
– |
|
(432) |
|
(432) |
Closing balance |
|
1,794 |
|
2,957 |
|
4,752 |
Depreciation and impairment losses |
|
|
|
|
|
|
Opening balance |
|
424 |
|
1,044 |
|
1,468 |
Increases |
|
365 |
|
699 |
|
1,064 |
Contracts cancellation |
|
– |
|
(411) |
|
(411) |
Closing balance |
|
789 |
|
1,332 |
|
2,121 |
Net value |
|
|
|
|
|
|
As at 1 January 2024 |
|
1,371 |
|
1,031 |
|
2,402 |
As at 31 December 2024 |
|
1,006 |
|
1,625 |
|
2,631 |
11.2. Lease liabilities
2025 |
|
Current |
|
Non current |
|
Total |
|---|---|---|---|---|---|---|
Opening balance |
|
1,107 |
|
1,592 |
|
2,699 |
Increases (new contracts) |
|
498 |
|
1,335 |
|
1,833 |
Payments |
|
(1,293) |
|
– |
|
(1,293) |
Transfers |
|
1,120 |
|
(1,120) |
|
– |
Contracts change/cancel |
|
1 |
|
(7) |
|
(6) |
Closing balance |
|
1,433 |
|
1,800 |
|
3,233 |
2024 |
|
Current |
|
Non current |
|
Total |
|---|---|---|---|---|---|---|
Opening balance |
|
877 |
|
1,540 |
|
2,417 |
Increases (new contracts) |
|
354 |
|
965 |
|
1,319 |
Payments |
|
(1,012) |
|
– |
|
(1,012) |
Transfers |
|
901 |
|
(901) |
|
– |
Contracts change/cancel |
|
(15) |
|
(11) |
|
(26) |
Closing balance |
|
1,107 |
|
1,592 |
|
2,699 |
11.3. Expenses recognised in the income statement
The income statement includes the below expenses related with leases:
|
|
2025 |
|
2024 |
|---|---|---|---|---|
Depreciation of right-of-use assets |
|
|
|
|
Buildings and other constructions |
|
373 |
|
365 |
Transport equipment |
|
950 |
|
699 |
Subtotal |
|
1,323 |
|
1,064 |
|
|
|
|
|
Lease liabilities interests |
|
179 |
|
150 |
|
|
|
|
|
Gains/losses with contract cancellation |
|
– |
|
– |
|
|
|
|
|
Rents (note 3) |
|
|
|
|
Expense related with short term leases |
|
1,344 |
|
1,152 |
Expense related with low value assets leases |
|
28 |
|
22 |
Expenses related with non-lease component |
|
726 |
|
613 |
Subtotal |
|
2,098 |
|
1,787 |
|
|
|
|
|
Total |
|
3,600 |
|
3,001 |
The total cash outflow for leases in 2025 was €3,570 thousand (2024: €2,948 thousand).