21. Trade and other receivables and other current assets

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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 in R&D funding paid to Adaptimmune in 2024, as a consequence of the announced wind-down of our cell therapy activities.

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We refer to note 5 for more information on the current contingent consideration receivable.

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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 after reaching an agreement 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 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.

We refer to note 35 “Financial Risk Management” for more information on the financial risk management.