Company: SGBAF
Filing Date: 2025-01-17
Form Type: DRS/A
Source: 0000950123-25-000378
Chunk: 264

Company: SES S.A.
Filing Date: 2025-01-17
Form: DRS/A
Chunk 264
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, and subsequently carried at amortized cost using the effective interest method. F-25

Confidential Treatment Requested by SES Pursuant to 17 C.F.R. Section 200.83 Consolidated financial statements as of and for the years ended December 31, 2023 and December 31, 2022 Prepayments Prepayments represent expenditures paid during the financial year but relating to a subsequent financial year. The prepaid expenses comprise mainly insurance, rental of third-party satellite capacity, advertising expenses as well as loan origination costs related to loan facilities which have not been drawn. Treasury shares Treasury shares are mostly acquired by the Group in connection with share-based compensation plans and are presented as a set off to equity in the consolidated statement of financial position. Gains and losses on the purchase, sale, issue or cancellation of treasury shares are not recognized in the consolidated income statement, but rather in the equity. Cash and cash equivalents Cash and cash equivalents comprise cash at banks and on hand, deposits and short-term, highly liquid investments readily convertible to known amounts of cash and subject to insignificant risk of changes in value. Cash on hand and in banks and short-term deposits which are held to maturity are carried at fair value. Revenue recognition Revenues are generated predominantly from customer service agreements for the provision of satellite capacity over contractually agreed periods, including short-term occasional use capacity, with the associated uplinking and downlinking services as appropriate. Other revenue-generating activities mainly include sale of customer equipment; platform services; subscription revenue; income received in connection with satellite interim missions; installation and other engineering services and proceeds from the sale of transponders if the revenue recognition criteria for the transaction are met. Revenue is measured based on the consideration to which the Group expects to be entitled in a contract with a customer and excludes amounts collected on behalf of third parties. The Group recognizes revenue as and when control of a good or service is transferred to a customer. Contract modifications are accounted for either as a separate contract or as part of the existing contract, depending on the nature of the modification. The Group accounts for a modification as a separate contract if:

| • |     | the scope of the contract increases because of the addition of distinct goods or services, and |

| • |     | the price of the contract increases by an amount of consideration that reflects the stand-alone selling prices of 
 the additional goods or services.                                                                                 |

A modification that does not meet the above criteria to be accounted for as a separate contract is accounted for as an adjustment to the existing contract,