26. Trade and other payables

26. Trade and other payables

 

Year ended 31 December,

(thousands of €)

2014

2013

Trade payables

29,344

29,365

Other current liabilities

663

 

Other non-current liabilities

923

2,462

Accrued charges

585

3,858

Deferred income

27,026

78,979

Total trade and other payables

58,541

114,664

 

 

 

Included in current liabilities

57,618

112,202

Included in non-current liabilities

923

2,462

Total trade and other payables

58,541

114,664

The Group’s trade and other payables, amounting to €58.5 million as of 31 December 2014, decreased by €56.1 million compared to the €114.7 million reported as of 31 December 2013.

The trade payables amounting to €29.3 million as of 31 December 2014 remain stable compared to the €29.4 million at 31 December 2013.

The accrued charges show a decrease of €3.3 million compared to the ending balance on 31 December 2013 which can be fully explained by the sale of the service division.

Deferred income amounts to €27.0 million at 31 December 2014, which decreased by €52.0 million compared to 31 December 2013. This decrease can mainly be explained by revenues from non-refundable upfront payments recognized in the income statement for €45.8 million. For the year ended 31 December 2014, €15.0 million revenue was deferred for the filgotinib program for rheumatoid arthritis and Crohn’s disease with AbbVie, and €11.4 million was deferred for the CF program with AbbVie. The remainder, being €0.6 million, was mainly composed of discounting effects on non-current R&D incentives receivables and deferred revenues from grants.