| TRADE ACCOUNTS RECEIVABLE |
NOTE 5 — TRADE ACCOUNTS RECEIVABLE | | | | | | | 2025 | | 2024 | Trade accounts receivable - in Brazil | | 1,912,129 | | 2,261,456 | Trade accounts receivable - exports from Brazil | | 718,930 | | 792,385 | Trade accounts receivable - outside of Brazil | | 2,271,451 | | 2,237,636 | (-) Impairment loss on trade receivables | | (91,870) | | (114,519) | | | 4,810,640 | | 5,176,958 |
Accounts receivable by aging are as follows: | | | | | | | 2025 | | 2024 | Current | | 4,326,579 | | 4,662,821 | Past-due: | | | | | Up to 30 days | | 369,766 | | 444,927 | From 31 to 60 days | | 100,422 | | 52,058 | From 61 to 90 days | | 14,946 | | 24,820 | From 91 to 180 days | | 50,845 | | 45,108 | From 181 to 360 days | | 14,326 | | 14,660 | Above 360 days | | 25,626 | | 47,083 | (-) Impairment on financial assets | | (91,870) | | (114,519) | | | 4,810,640 | | 5,176,958 |
The changes in the impairment on financial assets are as follows: | | | Balance as of January 1, 2023 | | (92,587) | Impairment on financial assets during the year | | (37,609) | Recoveries in the year | | 26,719 | Write-offs | | 9,736 | Exchange variation | | 3,855 | Balance as of December 31, 2023 | | (89,886) | Impairment on financial assets during the year | | (67,838) | Recoveries in the year | | 36,928 | Write-offs | | 18,403 | Exchange variation | | (12,126) | Balance as of December 31, 2024 | | (114,519) | Impairment on financial assets during the year | | (36,705) | Recoveries in the year | | 26,456 | Write-offs | | 26,581 | Acquisition of company control (Note 3.4) | | (180) | Exchange variation | | 6,497 | Balance as of December 31, 2025 | | (91,870) |
The Company’s maximum exposure to credit risk, net of impairment on financial assets, is the amount of accounts receivable. The credit quality of accounts receivable to maturity is considered adequate, and the value of the effective risk of possible losses on accounts receivable from customers is presented as impairment on financial assets.
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