iLOQ-vuosikertomus 2019

Note 15

Trade and other receivables

Non-current receivables
EUR thousand 2019 2018
Long-term receivables from others 
Loan receivables 0 2,980
Total 0 2,980
Current receivables
EUR thousand 2019 2018
Current receivables from others
Trade receivables 10,262 7,858
Other receivables 222 152
Accrued income 369 250
Total 10,853 8,260
The carrying amount of trade receivables and other receivables is a reasonable estimate of their fair value.
Aging of trade receivables
EUR thousand 2019  2018
Not past due 7,959 6,031
Past due
Less than one month 1,833 1,452
One to three months 313 326
More than three months 157 49
Total past due 2,303 1,827
Total 10,262  7,858


Expected credit losses

The Group measures loss allowances for trade receivables at an amount equal to lifetime expected credit losses (ECL). No expected credit losses were recognized in reporting periods 2018-2019, because based on historical experience on realized impairment losses and calculation based on management’s experience-based judgement, expected credit losses were 0 euros for reporting periods 2018-2019. The measurement of expected credit losses is presented in Note 22.

The carrying amount of trade receivables represent the maximum credit exposure on the reporting date. The Group also holds credit insurance provided by Euler Hermes to cover potential credit losses of trade receivables from customers. The Group considers the need for credit insurance coverage on a customer-specific basis and insures the receivables from customers based on this estimate.

The realized credit losses from sales to customers have been of minor importance, and no impairment losses have been recognized on the reporting periods presented in the financial statements.

Group’s financial risk management and credit risk presented in Note 22.