Company: SGBAF
Filing Date: 2025-01-17
Form Type: DRS/A
Source: 0000950123-25-000378
Chunk: 307

Company: SES S.A.
Filing Date: 2025-01-17
Form: DRS/A
Chunk 307
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 amortized over a 30-yearperiod, reflecting the Group’s ability to renew the rights once in 2029 at a minimal cost, assuming they are being utilized. As of December 31, 2023, the amount of the intangible assets pledged in relation to the Group’s liabilities is nil (2022: nil). F-60

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 Note 16—Inventories

| € million        |     | 2023 |    |     | 2022 |    |
| Current assets   |     |      |    |     |      |    |
| Work in progress |     |      |  9 |     |      |  3 |
| Finished goods   |     |      | 46 |     |      | 31 |
|                  |     |      | 55 |     |      | 34 |

‘Work in Progress’ represents equipment being prepared for delivery to the Group’s customers whereas ‘Finished goods’ is the available on-handequipment ready for deliver to customers. During 2022 the level of inventory provisioning increased by EUR 6 million versus the end of the previous calendar year. In 2023 the Group reversed EUR 1 million of the previous inventory provision based on stock movements in the period. The adjustments have been included in cost of sales in the consolidated income statements. Note 17—Assets and liabilities related to contracts with customers The Group has recognized the following assets and liabilities related to contracts with customers:

| € million                                   |     | 2023 |     |   |     | 2022 |      |   |
| Current contract assets                     |     |      |     |   |     |      |      |   |
| Trade receivables                           |     |      | 405 |   |     |      |  433 |   |
| Provision for trade receivables             |     |      | (96 | ) |     |      | (100 | ) |
| Trade receivables, net of provisions        |     |      | 309 |   |     |      |  333 |   |
| Unbilled accrued revenue                    |     |      | 100 |   |     |      |  160 |   |
| Provision for unbilled accrued revenue      |