21. (a) Trade and other receivables

i. Accounting policies for trade and other receivables

Trade receivables are amounts payable by customers for goods sold or services rendered in the ordinary course of business. If the receivables are expected to be settled within twelve months, they are classified as current assets. In exceptional cases where this is not the case, they are reported as non-current assets. Trade receivables are classified in accordance with IFRS 9. They are generally held in order to collect the contractual cash flows and are therefore allocated to the “hold” business model. They are initially recognized at the amount of the unconditional consideration and are subsequently carried at amortized cost using the effective interest method, less impairment. If trade receivables contain a significant financing component, they are initially recognized at fair value.

Other receivables mainly include bills guaranteed by banks (banker’s acceptance bills) from trade receivables for customers in China. These financial assets are generally held in order to collect the contractual cash flows and are

therefore allocated to the “hold” business model. They are initially recognized at fair value plus transaction costs and subsequently carried at amortized cost using the effective interest method, less impairment.

For trade receivables, the simplified approach is based on the expected credit losses over the respective terms. This is based on customer-specific loss rates that take into account the industry or sector of the respective customer and the economic environment of the geographical region. In particular, NORMA Group takes into account the credit default swaps of the respective customer’s country of origin as well as industry-specific probabilities of default derived from external sources. In addition, if this data is available, loss rates from customer-specific credit default swaps (CDS) are used.

Impairment losses on trade receivables, together with impairment losses on contract assets, are recognized in operating profit as net impairment losses. Unused amounts reversed are included in the same line item.

Losses on the disposal of trade receivables through write-offs are recognized in operating profit as net impairment losses. Unused amounts reversed are included in the same line item.

ii. Disclosures on trade receivables

Trade receivables classified as held for sale are not included in the following tables. Trade and other receivables are as follows:

On the reporting date, trade receivables were as follows:

iii. Disclosures on valuation allowances on trade receivables

The valuation allowances with regard to trade receivables that are not measured at fair value through profit or loss were determined as follows on 31. Dezember 2025. The following quantitative information on trade receivables includes amounts that have been classified as held for sale.

Impairment losses for trade receivables developed as follows from the opening balance as of 1. Januar 2025, to the closing balance as of 31. Dezember 2025:

The net income from value adjustments recognized in fiscal year 2025 amounted to EUR 207 thousand (2024: net expenses of EUR 238 thousand).

The following losses from the write-off of trade receivables arose in the fiscal year:

iv. Fair value of trade receivables

Trade receivables have short-term maturities, therefore the carrying amounts on the reporting date correspond to their fair values, as the effects of discounting are not material.