11. Trade and Other Receivables
Notes |
31-Dec-25 €’000 |
31-Dec-24 €’000 |
|
Trade receivables |
47,653 |
28,889 |
|
Unbilled consumption |
61,791 |
69,564 |
|
Amounts due from related parties |
27,253 |
27,369 |
|
Customer refund programme receivables from Government |
12,920 |
12,932 |
|
Connections refund programme receivables from Government |
2,661 |
6,283 |
|
Other receivables |
4,947 |
3,914 |
|
Sub-total |
157,225 |
148,951 |
|
Prepayments |
16,378 |
19,919 |
|
Total |
173,603 |
168,870 |
|
Non-current |
- |
- |
|
Current |
173,603 |
168,870 |
|
Total |
173,603 |
168,870 |
Trade and other receivables are stated net of expected credit losses and are classified in the financial statements as current or non-current in accordance with their expected realisation. Refer to note 1 for an assessment of the critical judgements and estimates applied. Refer to note 25 for further detail in respect of balances with related parties.
Impairment of trade receivables and allowance for expected credit losses
There is no material concentration of credit risk as the Company’s trade receivables consist of amounts due from a large number of non-domestic customers, spread across diverse industries.
The credit terms for non-domestic customers varies, ranging up to 45 days. The credit risk on trade receivables is managed through the proactive monitoring and management of trade receivable balances. The Company’s credit collection team actively manages accounts in arrears through customer follow up. The Company continues to develop and enhance its credit risk management practices.
The Company has a number of other receivable balances due from Local Authorities, the Government and other related parties. The Company actively engages with the Local Authorities on a regular basis. The Company believes it has minimal credit risk arising from its operational transactions with Local Authorities and the Government.
The Company writes off a trade receivable where there is information indicating that the debtor is in severe financial difficulty and there is no realistic prospect of recovery e.g. when the debtor has been placed into liquidation or has entered into bankruptcy proceedings. This process is subject to robust internal governance as noted below. None of the trade receivables that have been written off are subject to enforcement activities.
The ageing of trade and other receivables is set out below.
|
Gross carrying amount 31-Dec-25 €’000 |
Allowance for expected credit losses 31-Dec-25 €’000 |
Net receivable 31-Dec-25 €’000 |
Gross carrying amount 31-Dec-24 €’000 |
Allowance for expected credit losses 31-Dec-24 €’000 |
Net receivable 31-Dec-24 €’000 |
|
Not past due |
131,998 |
(16,423) |
115,575 |
128,696 |
(14,190) |
114,506 |
1-365 days overdue |
83,001 |
(44,994) |
38,007 |
68,572 |
(37,208) |
31,364 |
>1 year |
85,993 |
(82,350) |
3,643 |
79,359 |
(76,278) |
3,081 |
Total |
300,992 |
(143,767) |
157,225 |
276,627 |
(127,676) |
148,951 |
The following table shows the movement in the allowance for expected credit losses for trade receivables:
|
2025 €’000 |
2024 €’000 |
|
At 1 January |
(127,676) |
(131,701) |
Impairment of trade receivables |
(32,452) |
(19,525) |
Allowance utilised |
16,361 |
23,550 |
At 31 December |
(143,767) |
(127,676) |
Prior to 2017, and in line with the agreed Service Level Agreements, the Local Authorities, acting as agents for the Company, billed and collected non-domestic trade receivables on the Company’s behalf. In 2017, the Company assumed full responsibility for non domestic billing and revenue management from the Local Authorities and since then have developed a robust set of credit risk management practices. The Company’s policy is to write off debt only when the customer is no longer using our service and all enforcement activities have been fully exhausted, with write offs subject to review and approval by the Company’s Credit Committee in line with internal governance procedures.
Application of the Company’s accounting policy for recognising expected credit losses on trade receivables has resulted in an allowance for expected credit losses of 57% of gross non domestic trade receivables at 31 December 2025 (2024: 56%). The charge for expected credit losses recognised in 2025 represents 10% of non domestic revenue for the year (2024: 7%). Refer to note 1 for an assessment of the critical judgements and estimates applied.