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15. Accruals and Deferred Income

The balance sheet value of the accruals and deferred income as at 31 December can be broken down as follows:

Download XLS

 

 

 

in thousands of EUR

2015

2014

 

 

 

 

 

 

Discount on investments

1,460

2,277

Interest payable

13,109

14,479

Deferred taxes

3,646

3,518

Other accruals and deferred income

60,625

59,215

 

 

 

 

 

 

Balance sheet value as at 31 December

78,840

79,489

 

 

 

The deferred tax item mainly relates to:

  • future profits of the German branch that will be taxed in The Netherlands. The duration is unlimited.
  • temporary differences between the carrying amounts of intangible fixed assets for financial reporting purposes and the amounts used for taxation purposes. The remaining duration is one to four years.

The other accruals and deferred income includes currency derivatives for Triodos Investment Funds for the amount of EUR 37.508 (2014: EUR 29,422). This is almost entirely hedged.