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Short-term trade and other receivables | 12 Months Ended
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Dec. 31, 2024
Trade and other current receivables [abstract] |
Disclosure of trade and other receivables [text block] | 4.2 SHORT-TERM TRADE AND OTHER RECEIVABLES Set out below is a breakdown of this heading at December 31, 2024 and 2023:
Million euro | 2023 | Exchange rate | Consolidation scope changes | Other | 2024
Trade receivables for sales and services | 1,353 | 24 | 1 | 248 | 1,625
Other receivables | 324 | 5 | — | 274 | 602
TOTAL RECEIVABLES | 1,677 | 29 | 1 | 522 | 2,228
Million euro | 2022 | Exchange rate | Consolidation scope changes | Other | 2023
Trade receivables for sales and services | 1,300 | 15 | (12) | 51 | 1,353
Other receivables | 300 | 4 | — | 20 | 324
TOTAL RECEIVABLES | 1,600 | 19 | (12) | 70 | 1,677
a) Trade receivables for sales and services Trade receivables break down as follows at December 31, 2024 and 2023:
Million euro | 2023 | Exchange rate | Consolidation scope changes | Other | 2024
Trade receivables | 963 | 13 | 1 | 111 | 1,088
Bad debt provisions | (216) | (1) | — | (10) | (227)
Net trade receivables | 748 | 12 | 1 | 101 | 861
Completed work pending certification | 446 | 10 | — | 118 | 573
Retentions | 160 | 3 | — | 28 | 191
TRADE RECEIVABLES FOR SALES AND SERVICES | 1,353 | 24 | 1 | 248 | 1,625
Million euro | 2022 | Exchange rate | Consolidation scope changes | Other | 2023
Trade receivables | 962 | 13 | (12) | 1 | 963
Bad debt provisions | (209) | (1) | — | (6) | (216)
Net trade receivables | 753 | 12 | (12) | (5) | 748
Completed work pending certification | 406 | 2 | — | 38 | 446
Retentions | 141 | 1 | — | 18 | 160
TRADE RECEIVABLES FOR SALES AND SERVICES | 1,300 | 15 | (12) | 51 | 1,353
The change under the heading “Other” (EUR 248 million) is explained primarily by the increase in Con struc tion (EUR 228 million), highlighting Canada (EUR 95 million), Spain (EUR 68 million) and United States (EUR 67 million), as a result of the business performance. Additionally, the heading "Trade receivables" includes collections of non recourse factoring during 2024 for EUR 11 million (there were no factoring agreements during 2023). Set out below is a breakdown of the main trade receivables by debtor type at December 31, 2024 and 2023:
At 12.31.2024 (Million euro) | CONSTRUCTION | OTHER AND ADJUSTMENTS | TOTAL
Public sector | 820 |  | 57 | % | 138 |  | n.a. | 958 |  | 60 | %
Private sector | 458 |  | 31 | % | 75 |  | n.a. | 533 |  | 32 | %
Group companies and associates | 186 |  | 12 | % | (52) |  | n.a. | 134 |  | 8 | %
TOTAL | 1,465 |  | 100 | % | 161 |  | N.A. | 1,625 |  | 100 | %
At 12.31.2023 (Million euro) | CONSTRUCTION | OTHER AND ADJUSTMENTS | TOTAL
Public sector | 777 | — | 93 | n.a. | 870 | 64 | %
Private sector | 414 | — | 13 | n.a. | 427 | 32 | %
Group companies and associates | 171 | — | (116) | n.a. | 55 | 4 | %
TOTAL | 1,363 | — | (10) | N.A. | 1,353 | 100 | %
The Group has pre and post-contracting measures in place to manage customer credit risk, such as consulting debtor registers, ratings or solvency studies, etc. and monitoring incidents and default, etc. while the work is in progress. Changes to trade provisions are set out below:
(Million euro) | 2024 | 2023
Opening balance | 216 | 209
Amounts charged to the income statement: | 10 | 5
Charges | 16 | 12
Reversals | (7) | (8)
Applications | — | —
Foreign exchange effect | 1 | 1
Transfers and other | — | 1
Closing balance | 227 | 216
Group management considers that the carrying amount of trade receivables approximates fair value. b) Other receivables Other receivables break down as follows at December 31, 2024 and 2023:
Million euro | 2023 | Exchange rate | Consolidation scope changes | Other | 2024
Advance payments to suppliers | 67 | 3 | — | 13 | 83
Sundry receivables and other short terms financial assets | 110 | 1 | — | 233 | 343
Infrastructure project receivables | 4 | — | — | — | 4
Amounts receivable from Public Administrations | 144 | 1 | — | 28 | 172
OTHER RECEIVABLES | 324 | 5 | — | 274 | 602
Million euro | 2022 | Exchange rate | Consolidation scope changes | Other | 2023
Advance payments to suppliers | 61 | — | — | 6 | 67
Sundry receivables and other short terms financial assets | 96 | 4 | — | 10 | 110
Infrastructure project receivables | 3 | — | — | — | 4
Amounts receivable from Public Administrations | 139 | 1 | — | 4 | 144
OTHER RECEIVABLES | 300 | 4 | — | 20 | 324
The main movement under this heading during 2024, disclosed in the line item "Sundry receivables an other short terms financial assets", corresponds to the AGS divestment agreement reached with Avialliance UK Limited for the sale of Ferrovial entire stake in this asset (Note 1.1.4. and Note 6.11.), that has been completed on January 28, 2025. The completion of this transaction was subject to satisfaction of applicable regulatory approvals by 2024 year-end, and therefore, the subordinated loans granted to AGS of GBP 195 million (EUR 235 million) have been reclassified from long-term to short-term receivables.

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- Definition The disclosure of trade and other receivables. [Refer: Trade and other receivables] + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name IAS -Number 1 -IssueDate 2024-01-01 -Paragraph 10 -Subparagraph e -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2024-en-r&anchor=para_10_e&doctype=Standard -URIDate 2024-03-27 + Details
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