IBERSOL | Integrated Management Report - 2024

INTEGRATED MANAGEMENT REPORT 2024 3. Operational Performance 3.1. Revenue Accounting policies Revenue is measured at the amount the entity expects to be entitled to receive un- der the contract with the customer. Recognition The revenue recognition model is based on five steps of analysis in order to deter- mine when revenue should be recognized and the amount to be recognized: 1) Identify the contract with the customer; 2) Identify the performance obligations; 3) Determine the transaction price; 4) Allocating the transaction price; and 5) Recognizing revenue. Revenue is recognized only when the performance obligation is satisfied, which de- pends on whether the performance obligations are satisfied over time or if, on the contrary, control over the good or service is transferred to the customer at a given time. Revenue is recognized as follows: Services rendered Revenue from the provision of services is recognized according to the percentage of completion or based on the contract period when the provision of services is not associated with the execution of specific activities, but with the continuous provi- sion of the service. The amount of services rendered recognized in the income statement is as follows: 2024 2023 Rendered services - internal market 1 044 000 990 000 Renderes services 1 044 000 990 000 The value of this item relates entirely to the service contract with Ibersol Restau- ração S.A. (note 10). 3.2. Operating income and expenses Accounting policies Expenses and income are recorded in the period to which they refer, regardless of whether they are paid or received, in accordance with the accrual accounting princi- ple. The differences between the amounts received and paid and the corresponding income and expenses are recognized as assets or liabilities, if they qualify as such. 483