21. Trade receivables and contract assets

Trade receivables are non-interest bearing and credit terms are generally 60 to 90 days. The Group is not exposed to significant concentration of third-party credit risk.

Contract assets

Contract assets relate to ongoing customer-specific construction contracts within the Engineering segment, as well as to activities from the In-vitro diagnostic and DDS businesses, both of which are included in the Biopharmaceutical and Diagnostic Solutions segment. As such, the balance of this account fluctuates depending on the number and stage of construction contracts in progress at each reporting date. The Group recognized contract assets of EUR 180,459 thousand at December 31, 2025 and of EUR 168,515 thousand at December 31, 2024. On a gross basis, contract assets amounted to EUR 478,694 thousand (EUR 414,955 thousand at December 31, 2024), net of advance invoices issued of EUR 298,235 thousand (EUR 246,440 thousand at December 31, 2024).