Financial liabilities are recognized as liabilities when the BLG Group becomes party to an agreement. The liabilities are measured at fair value on initial recognition. They are subsequently measured, with the exception of derivatives, at amortized cost using the effective interest method. The measurement of derivatives is described in note 32.
Please refer to note 14 for information on the measurement of lease receivables.
Financial assets and liabilities are only netted and the net amount reported in the statement of financial position when there is a legally enforceable right to do so and there is an intention to settle on a net basis or to settle the corresponding liability at the same time as the relevant asset is sold.
Liabilities are derecognized after settlement, waiver or expiration.
Other financial liabilities break down as follows:
EUR thousand |
|
12/31/2023 |
|
12/31/2023 |
|
12/31/2022 |
|
12/31/2022 |
|---|---|---|---|---|---|---|---|---|
Lease liabilities |
|
60,930 |
|
460,694 |
|
61,429 |
|
466,861 |
Loans BLG Unterstützungskasse GmbH |
|
25,600 |
|
|
|
25,600 |
|
|
Current portion of non-current loans |
|
20,043 |
|
|
|
20,469 |
|
|
Sales allowance obligations |
|
15,973 |
|
|
|
11,473 |
|
|
Other borrowings |
|
9,585 |
|
55,849 |
|
9,441 |
|
56,035 |
Bank overdrafts |
|
6,989 |
|
|
|
21,038 |
|
|
Cash management with respect to equity investments |
|
3,249 |
|
|
|
2,729 |
|
|
Social future concept |
|
1,412 |
|
4,504 |
|
1,240 |
|
3,915 |
Derivatives with negative fair value |
|
158 |
|
|
|
326 |
|
|
Liabilities to factoring company |
|
111 |
|
|
|
3,908 |
|
|
Other |
|
4,330 |
|
38 |
|
3,867 |
|
63 |
Total |
|
148,379 |
|
521,086 |
|
161,519 |
|
526,874 |
The average effective interest rates as of the end of the reporting period of current account liabilities to banks amounted to 3.8 percent (previous year: 1.0 percent).
Information on (undiscounted) future cash flows from lease liabilities and other financial loans is given in note 32 under “Liquidity risk”.