Trade And Other Receivables

12 Months Ended

Dec. 31, 2025

Trade and other receivables [abstract]

Note 22—Trade and other receivables


€ million	2025		2024
Trade receivables, net of provisions		507		349
Unbilled accrued revenue, net of provisions		243		242
Other receivables		111		165

Total trade and other receivables		861		756

Of which:
Financial receivables		828		726
Non-financial receivables		33		30
Non-current		91		107
Current		770		649

Unbilled accrued revenue represents revenue recognized, but not billed, under long-term customer contracts. Billing will occur based on the terms of the contracts. The

non-current

balance represents entirely unbilled accrued revenue.

An amount of EUR 19 million (2024: EUR 6 million) was expensed in 202

reflecting

an increase

in the impairment of trade and other receivables. This amount is recorded in ‘Other operating expenses’ and includes a reversal of provision of EUR 29 million (2024: EUR 33 million) mainly related to cash collections in respect of trade receivable balances previously provisioned. As at 31 December 2025, trade

and other receivables with a nominal amount of EUR

134

million (2024: EUR

114

million) were impaired. Movements in the provision for the impairment of trade and other receivables were as follows:


€ million	2025			2024
As at 1 January		114			114

Business combination		22			0
Increase in provision		48			39
Reversals of provision		(29	)		(33	)
Utilised		(19	)		(10	)
Other movements		6			—
Impact of currency translation		(8	)		4

As at 31 December		134			114