05 Financial performance Financial statements Note 11 MATURITIES OF PAYABLES AND LONG- AND SHORT‑TERM DEBT (in € thousands) Total Due within one year Due in one to five years Due in more than five years Ordinary bonds and other borrowings (note 8.2) 5,953,808 1,088,854 2,300,000 2,564,954 Other financial liabilities 2,748,686 2,748,686 - - Accrued taxes and payroll costs 11,700 11,700 - - Other liabilities 914,006 914,006 - - TOTAL AT DECEMBER 31, 2024 9,628,200 4,763,246 2,300,000 2,564,954 Note 12 RELATED PARTIES 12.1 Related-party assets and liabilities (in € thousands) Note Related parties Third parties Total in the balance sheet (net book value) Shares in subsidiaries and affiliates 6 9,140,720 - 9,140,720 Loans and advances to subsidiaries and affiliates 6 324,626 - 324,626 Other loans 6 2,885,347 - 2,885,347 Other equity interests 6 15,009 15,009 Receivables 7 769,086 477,959 1,247,045 Other financial liabilities 11 2,748,686 - 2,748,686 Accrued taxes and payroll costs 11 11,700 11,700 Other liabilities 11 911,594 2,412 914,006 12.2 Related-party transactions All related-party transactions are on arm's length terms. Note 13 REVENUE Revenue consists entirely of royalties received from related companies, as follows: (in € thousands) 2024 2023 Companies in France (140,800) 52,939 Companies outside France 1,938,118 1,737,914 TOTAL 1,797,318 1,790,853 Revenue (royalties) in France was negative due to the application of the Group's transfer pricing policy, which takes into account the impact of restructuring costs relating to the closure of the Vannes and Cholet plants. 451 2024 UNIVERSAL REGISTRATION DOCUMENT_MICHELIN
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