The balance sheet value of the other liabilities as at 31 December can be broken down as follows:
Amounts in thousands of EUR
Other accruals and deferred income
Balance sheet value as at 31 December
The other liabilities fall due within one year for an amount of EUR 81 million (2021: EUR 55 million).
The increase of the other accruals and deferred income mainly relates to deposits from customers who cannot fulfil the requirements regarding the Customer Due Diligence. These deposits will be offboarded.
On initial recognition other liabilities are recognised at fair value. After initial recognition other liabilities are recognised at the amortised cost price, being the amount received, taking into account premiums or discounts, less transaction costs. This usually is the nominal value.