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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:

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Amounts in thousands of EUR

2012

2011

 

 

 

Discount on investments

3,008

803

Interest payable

14,911

12,553

Deferred taxes

4,070

4,212

Other accruals and deferred income

28,982

31,157

 

 

 

 

 

 

Balance sheet value as at 31 December

50,971

48,725

 

 

 

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.