Annual report 2008 - Altarea Cogedim

13.19. Security and other deposits received and other non-current liabilities
12/31/2008 12/31/2007
Deposits and security interests received 22,975 19,955
Other financial liabilities due in more than one year 2,267 191
TOTAL FINANCIAL LIABILITIES DUE IN MORE THAN ONE YEAR 25,242 20,146
Security and other deposits are received from shopping centre tenants. Also included in this item are funds received from
tenants as advances on service charges.
Other financial liabilities due in more than one year chiefly correspond to financial liabilities arising on the acquisition of
property, plant and equipment and security deposits paid in connection with purchase options.
13.20. Trade payables and other accounts payable
n Breakdown of trade payables and other liabilities by nature
(in € thousand)
Current
12/31/2008 12/31/2007
Advances and downpayments received 12,873 40,852
Trade payables and other accounts payable 236,927 148,473
Liabilities to related parties or partners 1,141 3,533
Tax and social security payables 103,157 71,224
Amounts payable on non-current assets 107,664 102,529
Trade receivables - advances 121,726 141,248
Prepaid income - initial lease payments 13,889 10,150
Other prepaid income 120 128
Other payables 12,684 15,909
TRADE PAYABLES AND OTHER ACCOUNTS PAYABLE 610,181 534,046
• Trade payables and other accounts payable
The increase in this line item during 2008 was attributable chiefly to the property development for third parties business
(€194 million at 31 December 2008 compared with €122 million at 31 December 2007) and relates to the costs yet to be
incurred on completed transactions owing to the large number of transactions completed in 2008 and very high level of trade
payables on certain office developments at year-end 2008.
• Amounts payable on non-current assets
At 31 December 2008, amounts payable on non-current assets chiefly reflect Altacerro (€27.5 million) and Altapinerolo
(€22.3 million) in Italy and Carré de Soie (€8.6 million) and Avenue de Fontainebleau (€8.1 million) in France.
• Trade receivables – advances
Trade receivables – advances represent the excess of amounts received from trade customers, inclusive of taxes, over the
revenue recognised on a percentage-of-completion basis, inclusive of taxes.
• Advances and downpayments received
Advances and downpayments received represent downpayments on signed off-plan sales and contractual advances from
lessees at the Bellinzago shopping centre in Italy.
145