21. Trade and Other Receivables and Other Current Assets
|
December 31 |
|
|---|---|---|
(thousands of €) |
2025 |
2024 |
Trade receivables |
9,568 |
32,471 |
Current contingent consideration receivable |
6,955 |
4,742 |
Prepayments |
103 |
103 |
Other receivables |
4,080 |
10,160 |
Trade and other receivables |
20,706 |
47,476 |
Accrued income |
1,392 |
835 |
Deferred charges |
5,610 |
30,214 |
Other current assets |
7,002 |
31,049 |
Total trade and other receivables & other current assets |
27,708 |
78,525 |
The decrease in deferred charges in 2025 mainly related to the release in R&D expenses of the remaining balance of the capitalized $15.0 million of R&D funding paid to Adaptimmune in 2024, as a consequence of announced wind-down of our cell therapy activities.
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. This provision was reversed in 2025 as a result of an agreement reached with the client. We did not account for a provision for expected credit losses relating to all our other trade and other receivables since we do not have a history of credit losses and we are not aware of any forward-looking information that could materially influence the credit risk.
We refer to Note 35 “Financial Risk Management” for more information on the financial risk management.