Annual and transition report of foreign private issuers [Sections 13 or 15(d)]

Trade and other receivables

v3.25.1
Trade and other receivables
 12 Months Ended
Dec. 31, 2024
Reconciliation of changes in allowance account for credit losses of financial assets [abstract]  
Trade and other receivables Trade and other receivables
Trade and other receivables can be broken down as per the table below.
(in €‘000) December 31,
2024		 December 31,
2023
Trade receivables – gross 37,417  47,228 
Loss allowance (1,121) — 
Trade receivables – net 36,296  47,228 
VAT receivables 9,631  6,166 
Other receivables 1,453  2,285 
Receivables from related parties 13  9 
Government grants receivables —  355 
Total 47,393  56,043 
The aging of the Group’s trade receivables and contract assets at the reporting date for all periods presented is disclosed in Note 33.
The movements in the loss allowance for the years ended December 31, 2024 and 2023 have been as follows:
Trade receivables
(in €‘000) 2024 2023
Opening balance loss allowance at the beginning of the year —  — 
Additions to loss allowance 1,135  — 
Receivables written off during the year as uncollectible (14) — 
Unused amount reversed during the year —  — 
Closing balance loss allowance at the end of the year 1,121  — 
Impairment losses on trade receivables and contract assets are recorded in other costs, within general and administrative expenses in the consolidated statement of profit or loss. Subsequent recoveries of amounts previously written off are credited against the same line item.
Details about the Group’s exposure to credit risk is included in Note 33.