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Trade and Other Receivables | 12 Months Ended
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Dec. 31, 2023
Trade and Other Receivables |
Trade and Other Receivables | Trade and Other Receivables ​
​ | ​ | ​ | ​ | ​
EUR’000 |  | 2023 | 2022 | 2021
Trade receivables from non-related parties |  | 26,802 | 17,635 | 18,424
Contract assets |  | 8,880 | 19,999 | 843
Receivables from related parties |  | 592 | — | —
Other receivables |  | 3,158 | 600 | 1,106
​ |  | 39,432 | 38,234 | 20,373
​ As of 31 December 2023, the Company’s receivables include contract assets totalling EUR 8.9 million, a significant decrease from EUR 20 million in 2022. These contract assets represent the Company’s entitlement to proportional consideration for ongoing projects as of the balance sheet date. Typically, these contract assets are reclassified to trade receivables when the Company fulfils its obligations and the right to consideration becomes unconditional, usually upon completion of the project. Expected credit loss on trade receivables The Group has historically only experienced immaterial losses on trade receivables, if any. Further, a material part of the cash flows in the contracts are prepayments received up front. The Group’s assessment remains consistent with its past practices. Although some positions may transition to 30 days overdue, our overall position on credit risk management remains unchanged. This assessment is supported by historical data, a select group of reliable debtors, and our outlook for the future. ​
​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Trade | Contract | Expected | ​
EUR’000 |  | receivables | assets | loss | Total
31 December 2023 | ​ | ​ | ​ | ​ | ​
Not due | ​ | 9,639 | 8,880 | — | 18,519
Overdue 1-30 days | ​ | 14,287 | — | — | 14,287
Overdue 31 to 60 days | ​ | 603 | — | — | 603
Overdue +61 days | ​ | 2,273 | — | — | 2,273
Total | ​ | 26,802 | 8,880 | — | 35,682
31 December 2022 | ​ | ​ | ​ | ​ | ​
Not due |  | 17,197 | 19,999 | — | 37,196
Overdue 1-30 days | ​ | 438 | — | — | 438
Overdue 31 to 60 days | ​ | — | — | — | —
Overdue +61 days |  | — | — | — | —
Total |  | 17,635 | 19,999 | — | 37,634
31 December 2021 |  |  |  |  |
Not due |  | 7,850 | 843 | — | 8,693
Overdue 1-30 days |  | 8,962 | — | — | 8,962
Overdue 31 to 60 days |  | 316 | — | — | 316
Overdue +61 days |  | 1,296 | — | — | 1,296
Total |  | 18,424 | 843 | — | 19,267
​

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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 2023-01-01 -Paragraph 10 -Subparagraph e -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2023-en-r&anchor=para_10_e&doctype=Standard -URIDate 2023-03-23 + Details
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