24. Other Financial Liabilities

Financial liabilities are recognized as liabilities when the BLG Group becomes party to a contract. The liabilities are measured at fair value on initial recognition. They are subsequently measured at amortized cost, with the exception of derivatives. The measurement of derivatives is described in note 32.

Please refer to note 14 for information on the measurement of liabilities from leases.

Financial assets and liabilities are only netted and the net amount reported in the statement of financial position when there is a legal entitlement 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:

Other financial liabilities

EUR thousand

 

12/31/2024
Current

 

12/31/2024
Non-current

 

12/31/2023
Current

 

12/31/2023
Non-current

Lease liabilities

 

65,966

 

433,985

 

60,930

 

460,694

Loans BLG Unterstützungskasse GmbH

 

25,600

 

 

 

25,600

 

 

Current portion of non-current loans

 

29,274

 

 

 

20,043

 

 

Sales allowance obligations

 

21,067

 

 

 

15,973

 

 

Other borrowings

 

11,246

 

54,433

 

9,585

 

55,849

Bank overdrafts

 

542

 

 

 

6,989

 

 

Cash management with respect to equity investments

 

3,006

 

 

 

3,249

 

 

Social future concept

 

1,610

 

4,575

 

1,412

 

4,504

Derivatives with negative market value

 

79

 

 

 

158

 

 

Liabilities to factoring company

 

2,920

 

 

 

111

 

 

Other

 

3,196

 

0

 

4,330

 

38

Total

 

164,505

 

492,993

 

148,379

 

521,086

The average effective interest rates on current account liabilities to banks as of the end of the reporting period amounted to 4.8 percent (previous year: 4.3 percent).

Information on (undiscounted) future cash flows from lease liabilities and other financial loans can be found in note 32 under “Liquidity risk”.

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