Reserve Factoring

12 Months Ended

Dec. 31, 2023

Factoring [Abstract]

FACTORING

REVERSE FACTORING

22.1Accounting policies

The Company negotiates with suppliers with the aim of extending its payment terms. Agreements were entered into with financial institutions that allow the Company’s suppliers, mainly of fuel, to receive advances on amounts due from the Company with interest rates ranging between 1.19% to 1.27% p.m.

When an amount is advanced by a supplier with the financial institution, is transferred from the item “Accounts payable” to “Reverse factoring”.

22.2Movement of reverse factoring

Description	Consolidated
At December 31, 2021	3,694
Addition	1,541,948
Interest incurred	79,460
Interest paid	(53,476)
Payment	(818,274)
At December 31, 2022	753,352
Addition	391,676
Interest incurred	17,010
Interest paid	(39,714)
Payment	(831,477)
At December 31, 2023	290,847