Company: SGBAF
Filing Date: 2025-04-23
Form Type: DRS/A
Source: 0000950123-25-003652
Chunk: 306

Company: SES S.A.
Filing Date: 2025-04-23
Form: DRS/A
Chunk 306
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ursuant to 17 C.F.R. Section 200.83

Consolidated financial statements

as of and for the years ended December 31, 2024, December 31, 2023 and December 31, 2022

classification of a liability. The amendments also aim to improve information an entity provides related to liabilities subject to these conditions. The amendments are effective for annual
reporting periods beginning on or after January 1, 2024. The adoption of these amendments did not have any material impact on the Group’s consolidated financial statements.

New standards and interpretations not yet adopted

A number of new standards and amendments to standards and interpretations are relevant for the Group and effective for annual periods beginning
on or after January 1, 2025 and have not been early adopted in preparing these consolidated financial statements:

Sale or contribution of assets between an investor and its associate or joint venture—Amendments to IFRS 10 and IAS 28

The IASB has made
limited scope amendments to IFRS 10 (‘Consolidated Financial Statements’) and IAS 28 (‘Investments in Associates and Joint Ventures’) which clarify the accounting treatment for sales or contribution of assets between an
investor and their associates or joint ventures. They confirm that the accounting treatment depends on whether the non-monetary assets sold or contributed to an associate or joint venture constitute a ‘business’ (as defined in IFRS 3
Business Combinations). Where the non-monetary assets constitute a business, the investor will recognize the full gain or loss on the sale or contribution of assets. If the assets do not meet the definition of
a business, the gain or loss is recognized by the investor only to the extent of the other investor’s interests in the associate or joint venture. The amendments apply prospectively. The IASB decided to defer the application date of this
amendment until such time as the IASB has finalized its research project on the equity method.

IFRS 18 Presentation and Disclosure in Financial Statements

On April 9, 2024, the IASB issued ‘IFRS 18 Presentation and Disclosure in Financial Statements’.
This new standard focuses on updates to the statement of profit or loss. The key concepts introduced in IFRS 18 relate to the structure of the statement of profit or loss, required disclosures in the financial statements for certain profit or loss
performance measures that are reported outside an entity’s financial statements (management-defined performance measures)