Financial statements



Details of this liability heading in the balance sheet at 31 December 2019 and 2018 are as follows:

BREAKDOWN OF PAYABLES (Euros) NOTES 31/12/19 31/12/18
CURRENT PAYABLES 8.157.539 2.511.276
Other current payables 1.587.357 1.125.736
Deposits received from suppliers 135.619 159.327
Deposits received from customers 469.327 460.788
Current provisions 982.411 505.622
Social Security payable 551.698 522.399
Social security contributions pending payment 551.698 552.399
Tax payable (Note 16) 6.018.484 4.298.958
Personal income tax withholdings pending payment 34.404 31.883
Non-resident income tax pending payment 3.110.430 140.558
Corporate income tax pending payment 1.574.574 0
Monthly VAT settlement 363.139 352.539
Deferred tax liabilities 627.774 0
Tax and other payables (payments in kind) 308.162 308.162
TRADE AND OTHER PAYABLES 29.354.549 35.988.839
Trade payables 8.153.933 9.552.499
Operators 19.047.719 24.296.999
Sundry payables 112.117 119.013
Customer advances 119.236 143.698
Salary payments pending 1.921.544 1.876.630
TOTAL PAYABLE 37.512.088 38.500.116

The amount recorded under other current payables the previous year included provisions for costs and commitments pending settlement linked to the cancellation of The Cloud project, corresponding to planned works to provisionally refurbish the site to make it accessible to the public, and expenses related to fulfilling commitments to suppliers. At 31 December 2019 the outstanding balance comes to 72 thousand euros. This heading also includes other current payables to suppliers of 110 thousand euros and current commitments to the Actua Tech Foundation totalling 800 thousand euros.

The Non-resident income tax pending payment heading includes the non-resident income tax withholding for the fourth quarter of 2019 and the Non-resident income tax withholding in Spain of 2,932,652 euros in relation to the gain from the sale of the Avatel equity stake. At the date of preparation of the accompanying financial statements, both balances payable had been settled in full.

Tax payables include an item recorded under Tax and other payables (payments in kind) corresponding to an adjustment for payments in kind that were not correctly declared between 2013 and 2017. At 31 December 2017, the Company allocated a provision of 735,349 euros in respect of this adjustment. The part of this liability corresponding to the Andorran Social Security Authority was settled in the second and third quarters of 2018. The part due to the Tax Authority, amounting to 427,187 euros, remains outstanding.

The items recorded under trade and other payables include the following:

  • Operators:
    The items recorded under this heading including trade payables to telecommunications operators, including annual discounts for Roaming In payable to mobile phone operators.
  • Salary payments pending:
    The breakdown of this heading is as follows:
(Amounts in euros) 31/12/19 31/12/18
Forecast performance bonus and accrued holiday pay 860.432 803.491
Mutual fund 821.064 795.847
Current provision for personnel expenses 240.163 277.293
Commitments for Pensions Active Staff (-)114 0
Total 1.921.544 1.876.630