Company: SLMT
Filing Date: 2025-05-28
Form Type: 20-F/A
Source: 0001213900-25-048029
Chunk: 40

Company: Brera Holdings PLC
Filing Date: 2025-05-28
Form: 20-F/A
Chunk 40
---
. The Company minimizes the concentration
of credit risk associated with its cash by maintaining its cash with high-quality insured financial institutions. For the cash deposit
in the traditional banks in Italy, cash balances in excess of the amount covered by the statutory Deposit Guarantee Scheme in Italy (i.e.,
EUR) are at risk. For the cash deposit in non-traditional banks (i.e., Wise Europe SA), the whole amount of the cash deposit is
at risk since it is not insured by the government.

As of December 31, 2024 and 2023, we had cash
deposits in a non-traditional bank, Wise Europe SA, amounting to EUR and EUR respectively. These deposits are not insured
by the local government. The Company performed a detailed credit risk assessment concerning the uninsured deposit made in Wise Europe
SA and determined that the credit risk is low, based on the following factors: (i) Wise Europe SA safeguards its customers’ funds
by holding them in a mix of cash in leading commercial banks and low-risk liquid assets, as required by its regulatory obligations; (ii)
Wise Europe SA is authorized by the National Bank of Belgium (“NBB”), which ensures that the bank operates under the regulations
and guidelines set by the NBB; and (iii) the Company has not experienced losses on these bank accounts and does not believe it is exposed
to any significant credit risk with respect to these bank accounts.

The Company’s current credit risk grading
framework comprises the following categories:

| Category   |     | Description                                                                                                                                    |     | Basis of recognizing estimated   
 credit loss (“ECL”)              |
| Low risk   |     | The counterparty has a low risk of default and does not have any past-due amounts.                                                             |     | 12-month ECL                     |
| Doubtful   |     | There have been significant increases in credit risk since initial recognition through information developed internally or external resources. |     | Lifetime ECL—not credit-impaired |
| In default |     | There is evidence indicating the asset is credit impaired.                                                                                     |     | Lifetime ECL—credit-impaired     |
| Write-off  |     | There is evidence indicating that the debtor is in severe financial difficulty and the Company has no realistic prospect of recovery.          |     | Amount is written off            |

F-15

| Financial assets at amortized cost |     | 12-month or lifetime ECL           |     | Gross    
 carrying 
 amount   
 EUR      |