13. CONTRACT ASSETS As at 31 Dec 2025 $’000 As at 31 Dec 2024 $’000 Current assets Accrued income 18,924 17,756 Reconciliation Reconciliation of the written down values at the beginning and end of the current and previous financial year are set out below: Opening balance 17,756 12,800 Additions 64,641 56,191 Transfer to trade receivables (63,473) (51,235) Closing balance 18,924 17,756 14. OTHER CURRENT ASSETS As at 31 Dec 2025 $’000 As at 31 Dec 2024 $’000 Current assets Prepayments 9,568 397 Prepayments for FY25 include A$9.1 million advance payments for future trials. 15. TRADE AND OTHER PAYABLES As at 31 Dec 2025 $’000 As at 31 Dec 2024 $’000 Current liabilities Trade payables 877 1,449 Accruals 934 943 Employee benefits 591 503 2,402 2,895 Non-current liabilities Employee benefits 68 41 Total Trade and other payables 2,470 2,936 Trade payables and accruals relate to operating expenses, primarily research and development expenses. Trade payables comprise amounts invoiced prior to the reporting date and accruals comprise the value of goods or services received but not invoiced at each reporting date. Refer to Note 21 for further information on financial instruments and risk management. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS CONTINUED Neuren Pharmaceuticals Limited Annual Report 2025 47
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