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  "notes": "Page 161 of the HBX Group Annual Report and Accounts 2025.",
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      "text": "Following this review, the Directors consider it appropriate to continue to adopt the going concern basis of accounting in preparing the Group's and Company's financial statements.",
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      "text": "The Directors have assessed the Group's financial forecast and cashflow forecasts considering global and macro-economic impacts... In the downside scenario, a 20% reduction in adjusted EBITDA was assumed.",
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      "text": "Subsidiaries: Subsidiaries are all entities over which the Group has control. The Group controls an entity when it is exposed to, or has rights to, variable returns from its involvement with the entity...",
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      "text": "Going concern: In adopting the going concern basis for preparing these consolidated financial statements, the Directors have considered the Group's business activities... At 30 September 2025, the Group had net assets of €791m and net current liabilities of €60m, having generated a €186m cash inflow...",
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      "text": "Climate-related risk: The Directors have considered the impact of climate-related risk on the financial information. In 2025, the Group conducted a comprehensive analysis of climate-related risks and opportunities...",
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      "text": "2. Summary of material accounting policy information continued",
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