20. Trade and Other Receivables and Other Current Assets
|
December 31 |
|
|---|---|---|
(thousands of €) |
2024 |
2023 |
Trade receivables |
32,471 |
17,494 |
Current contingent consideration receivable |
4,742 |
- |
Prepayments |
103 |
738 |
Other receivables |
10,160 |
10,217 |
Trade and other receivables |
47,476 |
28,449 |
Accrued income |
835 |
508 |
Deferred charges |
30,214 |
14,632 |
Other current assets |
31,049 |
15,140 |
Total trade and other receivables & other current assets |
78,525 |
43,589 |
The carrying value of trade and other receivables & other current assets approximate their fair value.
The increase in deferred charges mainly related to $15.0 million of R&D funding paid to Adaptimmune which will gradually be released in R&D expenses over the R&D period.
We refer to note 5 for more information on the current contingent consideration receivable.
On December 31, 2024, we had a provision for expected credit losses of €9.6 million, for two disputed invoices. We did not account for a provision for expected credit losses relating to all our other trade and other receivables since we don’t have a history of credit losses and we are not aware of any forward-looking information that could materially influence the credit risk.