18. Trade Receivables, Other Assets and Assets Held for Sale

Trade receivables

Trade receivables are recognized from the settlement date and held in order to generate contractual cash flows. They are therefore measured at amortized cost using the effective interest method.

An allowance account was recognized in net profit or loss on the basis of expected credit losses using the simplified approach. According to this approach, the amount of the loss allowance is to be determined on the basis of the lifetime expected credit losses. Changes in credit risk do not have to be tracked. Loss allowances are reported as net amounts in the statement of profit or loss.

At BLG LOGISTICS, expected credit losses are calculated on the basis of the historical credit loss rates over the past five years, based on past-due time scales and adjusted for management estimates regarding the future development of the economic environment, particularly estimates of the credit rating of major customers and general economic conditions.

Trade receivables are derecognized upon realization (expiration) or transfer of the receivables to a third party. In addition, trade receivables are derecognized if the inflow of cash is considered unlikely.

Trade receivables are non-interest bearing, payable within one year and are not to be used as collateral for liabilities. The average payment term was 49 days (previous year: 52 days). The maximum exposure to credit risk corresponded to the carrying amount; there were no indications of significant concentrations of credit risk.

Trade receivables

EUR thousand

 

12/31/2024

 

12/31/2023

Receivables from third parties

 

162,947

 

171,839

Receivables from affiliated companies

 

0

 

106

Receivables from other long-term investees

 

2,338

 

2,430

Total

 

165,285

 

174,376

The credit risk and the expected credit losses for trade receivables were as follows as of December 31, 2024, and December 31, 2023:

12/31/2024

EUR thousand

 

Expected credit loss rate (weighted average)

 

Nominal amounts

 

Loss allowances

 

Carrying amounts

Not past due

 

0.5%

 

140,787

 

-736

 

140,051

Less than 30 days

 

0.7%

 

17,517

 

-130

 

17,387

Between 30 and 90 days

 

9.7%

 

5,559

 

-540

 

5,019

Between 91 and 180 days

 

16.3%

 

1,699

 

-276

 

1,423

More than 180 days

 

27.8%

 

1,947

 

-542

 

1,405

Total

 

 

 

167,509

 

-2,224

 

165,285

12/31/2023

EUR thousand

 

Expected credit loss rate (weighted average)

 

Nominal amounts

 

Loss allowances

 

Carrying amounts

Not past due

 

0.4%

 

155,320

 

-653

 

154,667

Less than 30 days

 

1.0%

 

12,292

 

-127

 

12,165

Between 30 and 90 days

 

2.0%

 

3,731

 

-73

 

3,658

Between 91 and 180 days

 

1.1%

 

3,380

 

-39

 

3,341

More than 180 days

 

2.6%

 

559

 

-14

 

545

Total

 

 

 

175,282

 

-906

 

174,376

Loss allowances for trade receivables developed as follows:

Trade receivables – Loss allowance

EUR thousand

 

2024

 

2023

Amount as of the beginning of the financial year

 

906

 

1,156

Changes in group of consolidated companies

 

0

 

0

Loss allowances for the financial year

 

 

 

 

Transfers

 

1,657

 

284

Reversals

 

-163

 

-258

Changes in exchange rates

 

3

 

-2

Use/derecognition of receivables

 

-179

 

-274

Amount as of the end of the financial year

 

2,224

 

906

In the reporting year, there were also derecognitions of trade receivables of EUR 358 thousand (previous year: EUR 105 thousand), which are reported under net gains/losses from impairment.

Other financial and non-financial assets

Other assets primarily comprise contract assets. Other financial assets include financial investments, derivative financial instruments (see note 32), and, where applicable, securities classified as current assets. Other financial assets are recognized at their respective settlement date. BLG LOGISTICS only maintains negligible amounts of securities held as current assets.

Financial investments include investments in affiliated companies and other equity investments. These refer to long-term investments measured at fair value through other comprehensive income as equity instruments, exercising the option provided by IFRS 9. Even when equity instruments are disposed of, gains and losses from the measurement of equity investments are not reclassified to profit or loss, but to retained earnings. Dividends are recognized in profit or loss unless they are capital repayments.

The measurement of equity investments at fair value required by IFRS 9 is only waived if the equity investments are immaterial and there is no active market for the measurement of fair value.

The Group’s accounting policies for contract assets are illustrated in note 4.

Other financial and non-financial assets

EUR thousand

 

12/31/2024
Current

 

12/31/2024
Non-current

 

12/31/2023
Current

 

12/31/2023
Non-current

Other financial assets

 

 

 

 

 

 

 

 

Investments in affiliated companies

 

0

 

264

 

0

 

389

Other financial investments

 

0

 

125

 

0

 

138

Derivatives with positive market value

 

3,518

 

0

 

5,200

 

0

Miscellaneous financial assets

 

1,300

 

337

 

2,120

 

65

 

 

4,818

 

726

 

7,320

 

592

Other non-financial assets

 

 

 

 

 

 

 

 

Contract assets (note 4)

 

13,702

 

0

 

17,774

 

0

Receivables from tax and customs authorities

 

2,326

 

0

 

2,209

 

0

Receivables from German Infection Protection Act

 

0

 

0

 

413

 

0

Prepaid expenses

 

3,385

 

24

 

877

 

22

Receivables from Agentur für Arbeit (Labor Agency)

 

52

 

0

 

215

 

0

Miscellaneous non-financial assets

 

40

 

0

 

262

 

0

 

 

19,505

 

24

 

21,750

 

22

Total

 

24,323

 

751

 

29,070

 

614

Miscellaneous other financial and non-financial assets are stated at their nominal values. Other financial and non-financial assets are non-interest bearing and are not used as collateral for liabilities.

Investments in affiliated companies

Investments in affiliated companies mainly comprise the non-consolidated general partner companies of the fully consolidated operational limited partnerships.

Other equity investments

Other equity investments include companies with dormant or only limited operations, in which BLG AG or BLG KG is directly or indirectly entitled to at least 20 percent of the voting rights, and which are of only minor importance for giving a true and fair view of the assets, liabilities, financial position and profit or loss of BLG LOGISTICS.

Derivative financial instruments
Financial instruments that are traditionally used to hedge existing investments or liabilities and whose value is derived from a reference investment (e.g. share or bond).
Take a look at the glossary
Other comprehensive income
All income and expenses that are not recognized in the net profit or loss for the year. This item includes, for example, foreign currency gains and losses from the translation of foreign financial statements that are reported directly in equity in accordance with IAS 21.
Take a look at the glossary

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