| TRADE AND OTHER RECEIVABLES Trade and other receivables consisted of the following items as of December 31: | | | | | | | | | | 2025 | 2024 | | | | | Trade receivables (gross) | 54 | | 55 | | | Expected credit losses | (18) | | (15) | | | Trade receivables (net) | 36 | | 40 | | | | | | Other receivables, net of expected credit losses allowance | 1 | | — | | | Total trade and other receivables | 37 | | 40 | |
The following table summarizes the movement in the allowance for expected credit losses for the year ended December 31: | | | | | | | | | | 2025 | 2024 | | | | | Balance as of January 1 | 15 | | 14 | | | | | | Accruals for expected credit losses | 2 | | 3 | | | Foreign currency translation adjustment | — | | (1) | | | Other movements | 1 | | (1) | | | | | | Balance as of December 31 | 18 | | 15 | |
Set out below is the information about the Group’s trade receivables (including contract assets) using a provision matrix: | | | | | | | | | | | | | | | | | | | | Days past due | | | Current | < 30 days | Between 31
and 120 days | > 120 days | Total | | | | | | | | December 31, 2025 | | | | | | | Expected loss rate, % | 3 | % | 0 | % | 33 | % | 100 | % | — | | | Trade receivables | 31 | | 4 | | 3 | | 16 | | 54 | | | Expected credit losses | (1) | | — | | (1) | | (16) | | (18) | | | | | | | | | Trade receivables, net | 30 | | 4 | | 2 | | — | | 36 | |
| | | | | | | | | | | | | | | | | | | | Days past due | | | Current | < 30 days | Between 31
and 120 days | > 120 days | Total | | | | | | | | December 31, 2024 | | | | | | | Expected loss rate, % | 3 | % | 0 | % | 33 | % | 100 | % | — | | | Trade receivables | 35 | | 4 | | 3 | | 13 | | 55 | | | Expected credit losses | (1) | | — | | (1) | | (13) | | (15) | | | | | | | | | Trade receivables, net | 34 | | 4 | | 2 | | — | | 40 | |
ACCOUNTING POLICIES Trade and other receivables Trade and other receivables are measured at amortized cost and include invoiced/contractual amounts less expected credit losses. Expected credit losses Credit risk is discussed in Note 16.
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