18. Trade and other receivables
|
(in millions of euros) |
31 December 2023 |
31 December 2022 |
|
Receivables |
162 |
276 |
|
Unbilled revenue |
147 |
130 |
|
Other taxes and social security charges |
- |
36 |
|
Other receivables |
207 |
234 |
|
Total |
516 |
676 |
Trade and other receivables includes an amount of €31 million (2022: €117 million) relating to ProRail and the Dutch central government.
The ageing of receivables as at the reporting date was as follows:
|
31 December 2023 |
31 December 2022 |
|||
|
(in millions of euros) |
Gross |
Provided for |
Gross |
Provided for* |
|
Not past due |
63 |
- |
240 |
- |
|
Past due 0–30 days |
58 |
1 |
28 |
1 |
|
Past due 31–120 days |
11 |
2 |
8 |
1 |
|
Past due 121–180 days |
25 |
1 |
2 |
1 |
|
Past due 181–360 days |
9 |
2 |
4 |
2 |
|
Past due more than one year |
8 |
6 |
5 |
5 |
|
Total |
174 |
12 |
286 |
10 |
- *Comparative figures for 2022 have been adjusted for comparison purposes. This concerns a shift between categories.
Impairment losses
Movements in the provision for impairments of trade receivables during the year were as follows:
|
(in millions of euros) |
2023 |
2022 |
|
Balance as at 1 January |
10 |
87 |
|
Additions |
7 |
10 |
|
Use |
-3 |
-11 |
|
Release |
-2 |
-64 |
|
Held for sale |
- |
-8 |
|
Exchange differences |
- |
-4 |
|
Balance as at 31 December |
12 |
10 |
Accounting policy
Trade and other receivables are stated at fair value plus any directly attributable transaction costs upon initial recognition. After initial recognition, they are recognised at amortised cost using the effective interest method.
The Group has formed a provision for impairment equal to the size of the estimated credit losses from trade and other receivables. The most important elements of this provision are a specific loss provision for significant individual positions and a group loss provision for groups of comparable assets concerning losses that are expected but have not yet been identified. The group loss provision is determined on the basis of historic payment data for comparable financial assets.
Provisions for trade receivables are made in the case of an impairment, unless the Group is certain that it will not be possible to recover the amount owed. In that case, the amount is considered irrecoverable and is written off directly against the financial asset concerned.