Company: SGBAF
Filing Date: 2025-01-17
Form Type: DRS/A
Source: 0000950123-25-000378
Chunk: 308

Company: SES S.A.
Filing Date: 2025-01-17
Form: DRS/A
Chunk 308
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 not billed, under long-term customer contracts. Billing will occur based on the terms of the contracts. The non-currentbalance represents entirely unbilled accrued revenue. Other receivables include EUR 350 million (2022: EUR 480 million) to be received as part of the C-bandrepurposing project (refer to Note 34). An amount of EUR 12 million (2022: EUR 21 million) was expensed in 2023 reflecting an increase in the impairment of trade and other receivables. This amount is recorded in ‘Other operating expenses’. As of December 31, 2023, trade and other receivables with a nominal amount of EUR 114 million (2022: EUR 114 million) were impaired. Movements in the provision for the impairment of trade and other receivables were as follows:

| € million                      |     | 2023 |     |   |     | 2022 |     |   |
| Balance as of January 1        |     |      | 114 |   |     |      | 106 |   |
| Increase in provision          |     |      |  42 |   |     |      |  41 |   |
| Reversals of provision         |     |      | (30 | ) |     |      | (20 | ) |
| Utilised                       |     |      |  (5 | ) |     |      | (20 | ) |
| Other movements                |     |      |  (3 | ) |     |      |   1 |   |
| Impact of currency translation |     |      |  (4 | ) |     |      |   6 |   |
| Balance as of December 31      |     |      | 114 |   |     |      | 114 |   |

F-62

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 19—Financial instruments Fair value estimation and hierarchy The Group uses the following hierarchy levels for determining the fair value of financial instruments by valuation technique: Level 1—Quoted prices in active markets for identical assets or liabilities; Level 2—Other techniques for which all inputs which have a significant effect on the recorded fair value are observable either directly or indirectly; Level 3—Techniques which use inputs which