Company: SGBAF
Filing Date: 2025-05-15
Form Type: 424B3
Source: 0001193125-25-120606
Chunk: 290

Company: SES S.A.
Filing Date: 2025-05-15
Form: 424B3
Chunk 290
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’ in the consolidated income statements. The Group’s share of post-acquisition profit or loss is recognized in the consolidated income statements, and its share of post-acquisition movements in other comprehensive income is recognized in other comprehensive income with a corresponding adjustment to the carrying amount of the investment. When the Group’s share of losses in an associate equals, or exceeds, its interest in the associate, including any other unsecured receivables, the Group does not recognize further losses unless it has incurred legal or constructive obligations or made payments on behalf of the associate. In general, the financial statements of associates are prepared for the same reporting year as the parent company, using consistent accounting policies. If required, adjustments are made to align any dissimilar accounting policies that may exist. For details regarding the associates included in the consolidated financial statements see Note 38. Profits and losses resulting from upstream and downstream transactions between the Group and an associate are recognized in the Group’s consolidated financial statements only to the extent of unrelated investors’ interests in the associate. Dilution gains and losses arising in investments in associates are recognized in the consolidated income statements. The Group ceases to use the equity method of accounting on the date from which it no longer has significant influence over the associate, or when the interest becomes classified as an asset held for sale. Significant accounting judgments and estimates

| 1 | Changes in accounting estimates |

In 2024 management has made three changes to the judgments and estimates applied for the financial year ended December 31, 2023 as described below:

| i. | The alignment of the treatment of all orbital slot rights to be definite-life intangible assets |

GEO orbital slot rights Up until 2023, the Group’s accounting estimate concerning the appropriate useful economic life of GEO orbital slot rights has been that they will be of indefinite life unless there was something in the terms of the license to indicate that they could either not be renewed at the end of the term, or that such a renewal would not be at insignificant cost. Following this assumption, as at the end of 2023 the Group disclosed EUR 326 million of indefinite life orbital slot rights and EUR 107 million of definite-life rights. The Company applied an indefinite life as it was expected that it would maintain operations at all the relevant GEO orbital locations and hence was consistent with the provision in paragraph 88 of IAS 38 below: “An intangible asset shall be regarded by the entity as having an indefinite useful life when there is no foreseeable limit to the period over which the asset is expected