Trade receivables

12 Months Ended

Dec. 31, 2022

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