MarketPR
Berenberg has identified deliberate accounting manipulation at a company whose delayed 2025 accounts an auditor has now formally signed off on.
The restated net profit stands at €20.2mn, against €81.6mn in the figures previously reported. The manipulation was designed to flatter profits.
The audited print The auditor's sign-off on the delayed 2025 accounts gives the €20.2mn figure its formal standing. Berenberg's finding is not about close judgment calls that went one way.
The manipulation was purposeful. Built to make the profit line look better than the business delivered. The delay in the 2025 accounts is a detail worth holding.
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