It is probably equivalent to SE Lux, as you say? I think that most of Europe use designation Kinetic, Momentum and Summum for the typical spec levels. Above that you also get things like Inscription, etc., depending on the car model.
Kinetic is base model with cloth seats, minimum dia wheels, etc
Momentum is mid range - leather seats, but not so many 'toys', mid range wheels, etc
Summum usually has most of the toys, electric memory seat, adaptive cruise, driver aids, etc
It is in french but for info I have added a Belgian 2012 xc90 brochure so you can compare how the different specs compare:
https://www.media.volvocars.com/be/f...41376/file/pdf