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Trade receivables | 12 Months Ended
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Dec. 31, 2022
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Trade receivables |
8 | Trade receivables
Trade receivables are amounts from customers for services performed in the ordinary course of business. Invoices are usually settled within 30 days from issuance, however some contracts may comprise long term payments. Trade receivables are recognized initially at the transaction price unless they contain significant financing components when they are recognized at fair value. The Group holds the trade receivables to collect the contractual cash flows and, therefore, measures them at amortized cost using the effective interest method Due to the maturity and nature of the trade receivables, their carrying amount is considered to be the same as their fair value. Details about the Group’s impairment policies, exposure to credit risk, and foreign currency risk are provided in note 26.
|  | December 31, 2022 |  |  | December 31, 2021 |
Trade receivables |  |  | 43,084 |  |  |  | 41,972 |
Expected credit losses |  |  | (808 | ) |  |  | (1,147 | )
Total trade receivables |  |  | 42,276 |  |  |  | 40,825 |
Current |  |  | 36,844 |  |  |  | 34,682 |
Non-current |  |  | 5,432 |  |  |  | 6,143 |
The changes in expected credit losses for trade receivables are as follows:
|  | 2022 |  |  | 2021 |
Opening balance on January 1 |  |  | (1,147 | ) |  |  | (649 | )
Addition, net |  |  | (852 | ) |  |  | (887 | )
Addition from acquisition of subsidiaries |  |  | — |  |  |  | (100 | )
Write-off |  |  | 1,114 |  |  |  | 429 |
Exchange differences |  |  | 77 |  |  |  | 60 |
Closing balance on December 31 |  |  | (808 | ) |  |  | (1,147 | )
Details about the calculation of the expected credit losses are provided in note 26.2(a)(iii). The trade receivables by maturity are distributed as follows:
|  | December 31, 2022 |  |  | December 31, 2021 |
Current |  |  | 39,188 |  |  |  | 38,456 |
Overdue: |  |  |  |  |  |  |  |
From 1 to 30 days |  |  | 2,087 |  |  |  | 1,251 |
From 31 to 60 days |  |  | 454 |  |  |  | 847 |
From 61 to 90 days |  |  | 359 |  |  |  | 439 |
From 91 to 120 days |  |  | 295 |  |  |  | 113 |
From 121 to 300 days |  |  | 701 |  |  |  | 866 |
Total |  |  | 43,084 |  |  |  | 41,972 |

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