Group notes
Note 26 Trade payables and other liabilities
Trade payables and other financial liabilities are classified at amortized cost. Fair value of other liabilities corresponds to carrying value.
| Other current liabilities | 2025 | 2024 |
|---|---|---|
| Trade payables | 5 683 | 5 756 |
| Derivatives | ||
| – classified at fair value through profit and loss | 149 | 348 |
| Other financial liabilities | ||
| – other liabilities | 1 569 | 1 550 |
| – accrued expenses | 4 107 | 4 583 |
| Advances from customers 1) | 1 711 | 2 058 |
| Deferred revenues service contracts 1) | 627 | 605 |
| Closing balance, Dec 31 | 13 846 | 14 899 |
| 1) In advances from customers and deferred revenue, 1 888 (1 590) is related to contract liabilities. 1 548 (730) of the advances from customers and deferred revenue 2024 have been recognized as revenue during 2025. | ||
Accrued expenses include items such as social costs, vacation pay liability, accrued interest and accrued operational expenses.
The Group classifies financial liabilities that arise from organized factoring for Epiroc suppliers within trade payables since they have similar nature and function to trade payables. Organized factoring amount to 1 746 (1 591). Cash flows from organized factoring are included in operating activities.