17. Trade and other receivables

(in thousands of euros)

2018

2017

Cash deposits

264,945

190,000

Trade receivables

125,040

120,336

Value-added taxes

24,625

7,927

Accrued income

15,321

16,921

Prepaid expenses

13,754

16,114

Receivable from associates

5,415

22,449

Other loans to associates

601

4,019

Lease incentives

3,600

4,860

Derivatives

2,125

2,481

Inventories

595

2,250

Performance shares BACH

-

12,169

Other receivables

4,552

27,151

Total trade and other receivables

460,573

426,678

The balance in cash deposits as at 31 December 2018 related to deposits whose original maturity exceeds three months. The average interest rate on the deposits reported under trade and other receivables as at 31 December 2018 is -0.30% (31 December 2017: -0.34%).

The balance in receivable from associates as at 31 December 2018 of 5.4 million euros is related to accumulated dividends on the BACH redeemable preference shares (RPS). The 2017 RPS amount, as well as the receivable from BACH performance shares of 12.2 million euros, were both received in cash in June 2018.

The balance in trade receivables includes expected credit losses of 3 million euros (31 December 2017: 4 million euros). For a more detailed explanation, please refer to note 29. Management of financial risks and financial instruments.

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18. Cash and cash equivalents

18. Cash and cash equivalents

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