Moncler Group | Annual Report 2024 Consolidated Financial Statements 380 |
The change in the allowance for doubtful debt and sales return
is detailed in the following tables:
The allowance for doubtful debt was calculated in accordance
with management’s best estimate based on the ageing of accounts
receivable as well as the solvency of the oldest accounts
and also taking into consideration any balances turned over into
collection proceedings. Trade receivables written down
are related to specif ic balances that were past due and for which
collection is uncertain. In addition, the bad debt provision
includes an estimate of the expected loss relating to trade
receivables “in bonis" to take into account the risks associated
with the economic context and also covers any risk of revocation
on trade receivables.
5.8 Cash and cash equivalent
As at 31 December 2024 the caption cash and cash equivalent
amounted to EUR 1.188.0 million (EUR 998.8 million
as at 31 December 2023) and includes cash and cash equivalents
mainly represented by the funds available at banks.
The amount included in the Consolidated Financial
S
tatements corresponds to the nominal value and represents
the fair value at the date of the f inancial statements.
The credit risk is in fact limited since the other parties are
class A f inancial institutions
The consolidated statement of cash f lows includes
the changes in cash and cash at banks which mainly include
cash and positive balances with banks
The following table shows the reconciliation between cash
and cash in bank with those included in the consolidated
statement of cash f lows
DOUBTFUL DEBT AND DISCOUNTS ALLOWANCE
EUR/000 1 January 2024 Changes in
consolidation area
Accrued Used Translation
Difference
31 December 2024
Allowance for doubtful debt(14,764)0(514)164(153)(15,267)
Allowance for discounts(783)0 0 658(8)(133)
TOTAL(15,547)0(514)822(161)(15,400)
DOUBTFUL DEBT AND DISCOUNTS ALLOWANCE
EUR/000 1 January 2023 Changes in
consolidation area
Accrued Used Translation
Difference
31 December 2023
Allowance for doubtful debt(15,009)0(280)433 92(14,764)
Allowance for discounts(132)0(654)0 3(783)
TOTAL(15,141)0(934)433 95(15,547)
CASH AND CASH EQUIVALENTS INCLUDED IN THE STATEMENT OF CASH FLOWS
EUR000 31 December 2024 31 December 2023
Cash on hand and at banks 1187978 998799
Bank overdraft and shortterm bank loans60
TOTAL 1187972 998799
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