Other financial assets
The other financial assets of € 4.4 million mainly consists of agreed upon postponed considerations to be received from the sale of fitness business of Tunturi Hellberg Oy in 2017 (€ 1.1 million) and Delta Metal in 2019 (€ 1.0 million), a postponed receivable with new large bike business clients of € 1.0 million, a prepayment made for the demolition of a building and the depollution of the land that will be compensated by the government (€ 0.4 million) and a 10% investment in a company (€ 0.5 million).
Accounting estimates and judgements
On each reporting date the impairment of other financial assets is determined using the general impairment model of IFRS 9 which estimates the credit losses over 12 months. The credit losses over the lifetime of the asset are only determined in the event of a significant increase in credit risk (e.g. more than 30 days overdue, change in credit rating). Individually significant financial assets are tested for impairment on an individual basis. The remaining financial assets are assessed collectively in groups that share similar credit risk characteristics.
Other financial assets are measured at fair value and subsequently at amortized cost less any impairment losses.