8.8.3
Trade payables and other current liabilities

  2019 2018
  € x 1,000 € x 1,000
Trade payables 167,530 179,125
VAT payable 9,165 7,868
Import duties payable 996 980
Taxes on wages and social charges 3,339 4,501
Payables to non-consolidated companies 158 9
Personnel-related liabilities 11,625 9,311
Freight cost payable 438 500
Claims payable 290 291
Other invoices receivable 8,345 4,134
Interest and bank cost payable 591 1,501
Other current liabilities 8,442 4,698
Balance at 31 December 210,918 212,918

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Accell Group operates two supply chain finance programmes that enable participating suppliers to discount their invoices for earlier payment with a participating bank based on individual contractual agreements between the supplier and the participating bank. Trade payables at 31 December 2019 include an amount of € 22.4 million (2018: €22.1 million) related to the participating suppliers.

Accounting judgement

Accell Group has analyzed its supply chain finance programmes to determine whether it should derecognize its original liability, the trade payable to the supplier, and recognize a new interest-bearing liability to the bank. Based on the analysis of (a) the extinguishment criteria of the trade payable and/or (b) if the term of the trade payable had been substantially modified, Accell Group concluded that payment obligations to participating suppliers should remain in trade payables.

Accounting policy

Trade payables and other current liabilities are initially recognized at fair value (less any directly attributable transaction costs) and subsequently measured at amortized cost. A liability is recognized for the amount expected to be paid if Accell Group has a present legal or constructive obligation to pay this amount as a result of past service provided and the obligation can be estimated reliably. Trade payables and other liabilities are derecognized when the contractual obligation is either discharged or cancelled or has expired.