| Non-current receivables | ||
| EUR thousand | 2018 | 2017 |
| Non-current receivables from others | ||
| Loan receivables | 2,980 | 2,292 |
| Total | 2,980 | 2,292 |
| The item “non-current loan receivables from other companies” consists of related-party loans. Related-party transactions are described in Note 26. | ||
| Current receivables | ||
| EUR thousand | 2018 | 2017 |
| Current receivables from others | ||
| Trade receivables | 7,858 | 6,349 |
| Other receivables | 152 | 103 |
| Prepayments and accrued income | 250 | 211 |
| Total | 8,260 | 6,663 |
| Other receivables include V.A.T. receivables and the sum recognized on the balance sheet for foreign currency forward contracts.
The carrying amount of trade and other receivables is a reasonable estimate of their fair value. |
||
| Age distribution of trade receivables | ||
| EUR thousand | 2018 | 2017 |
| Not due | 6,031 | 4,696 |
| Due | ||
| Less than 1 month | 1,452 | 1,574 |
| 1–3 months | 326 | 38 |
| More than 3 months | 49 | 41 |
| Total overdue | 1,827 | 1,653 |
| Total | 7,858 | 6,349 |
Expected credit losses
The determination of the Group’s provision for credit losses is based on the expected credit losses over the entire period of validity of the trade receivables. In the 2017 and 2018 financial periods, the Group did not recognize any expected credit losses as the expected credit losses, calculated using historical data on realized credit losses and the management’s estimate based on experience, were zero for the 2017 and 2018 financial periods. The calculation of expected credit losses is described in Note 22.
On the balance sheet date, the maximum sum exposed to credit risk corresponds to the total amount of trade receivables. The Group also has credit insurance from Euler Hermes, which covers potential credit loss risks on trade receivables from customers. The Group assesses the need for credit insurance cover for each customer and insures the receivables from each customer on the basis of this assessment.
The Group’s realized trade credit losses have historically been very small, and no realized trade credit losses were recognized in the financial periods presented in the financial statements.
The Group’s risk management and the Group’s credit risk are described in Note 22.