v3.26.1
TRADE AND OTHER RECEIVABLES (Tables)
 12 Months Ended
Dec. 31, 2025
Trade and other current receivables [abstract]  
Summary of trade and other receivables
Trade and other receivables consisted of the following items as of December 31:
20252024
Trade receivables334 252 
Loans to customers419 313 
Total trade receivables and loans to customers (gross)753 565 
Expected credit losses on trade receivables(85)(75)
Expected credit losses on loans to customers(84)(53)
Trade receivables (net)584 437 
Other receivables, net of expected credit losses allowance17 11 
Total trade and other receivables601 448 
Contract assets (unbilled receivables) are included in the total trade receivables and loans to customers (gross), see Note 3—Revenue of these consolidated financial statements for further details.
Summary of movements in the allowance for expected credit losses
The following table summarizes the movement in the allowance for expected credit losses on trade receivables for the years ended December 31:
20252024
Balance as of January 175 70 
Acquisition of a subsidiary1 — 
Divestment of a subsidiary— (1)
Accruals for expected credit losses34 28 
Recoveries(8)(8)
Accounts receivable written off(18)(8)
Reclassification as held for sale— (1)
Foreign currency translation adjustment— (3)
Other movements1 (2)
Balance as of December 3185 75 
Summary of aging of trade receivables
Set out below is the information about the Group’s trade receivables (including contract assets) using a provision matrix:
Days past due
Unbilled ReceivablesCurrent< 30 daysBetween 31 and 120 days> 120 daysTotal
December 31, 2025
Expected loss rate, %4.4 %2.3 %18.2 %36.4 %98.5 %
Trade receivables45 177 22 22 68 334 
Expected credit losses(2)(4)(4)(8)(67)(85)
Trade receivables, net43 173 18 14 1 249 
December 31, 2024
Expected loss rate, %4.3 %3.0 %14.3 %38.5 %98.3 %
Trade receivables46 101 21 26 58 252 
Expected credit losses(2)(3)(3)(10)(57)(75)
Trade receivables, net44 98 18 16 1 177 
The following tables set out the information about the Company’s loans to customers and allowance for expected credit losses using a provisioning methodology based on a collective assessment of similar loans:
Stage 1Stage 2Stage 3Total
Loans to customersExpected credit lossesLoans to customersExpected credit lossesLoans to customersExpected credit lossesLoans to customersExpected credit losses
As of January 1, 2025261 (15)20 (10)50 (31)331 (56)
New loans383 — 15 — 38 — 436 — 
Accrual on opening loans31 — — — — — 31 — 
Loans that have been repaid(272)— (11)— (20)— (303)— 
Accruals for expected credit losses— (18)— 1 — (19)— (36)
Transfer to Stage 1— — — — — — — — 
Transfer to Stage 2(21)8 21 (8)— — — — 
Transfer to Stage 3(19)7 (8)— 27 (7)— — 
Write-off(18)3 (4)2 (19)2 (41)7 
Foreign currency translation adjustment(3)— — 1 (1)— (4)1 
As of December 31, 2025342 (15)33 (14)75 (55)450 (84)
Non-current31 — 
Current419 (84)
Stage 1Stage 2Stage 3Total
Loans to customersExpected credit lossesLoans to customersExpected credit lossesLoans to customersExpected credit lossesLoans to customersExpected credit losses
As of January 1, 2024244 (6)11 (2)24 (18)279 (26)
New loans229 — 12 — 20 — 261 — 
Accrual on opening loans50 — 2 — — — 52 — 
Loans that have been repaid(213)— (5)— (4)— (222)— 
Accruals for expected credit losses— (10)— (9)— (17)— (36)
Transfer to Stage 1— — — — — — — — 
Transfer to Stage 2(6)— 6 — — — — — 
Transfer to Stage 3(25)— (3)1 30 (1)2 — 
Write-off(18)1 (3)1 (19)4 (40)6 
Foreign currency translation adjustment— — — (1)(1)1 (1)— 
As of December 31, 2024261 (15)20 (10)50 (31)331 (56)
Non-current18 (3)
Current313 (53)