08 | net finance costs

2015

2014

Interest on borrowings

6,425

7,695

Payments on derivate financial instruments

188

165

Commitment and utilisation fee syndicated credit facility

1,099

1,309

Revaluation of French government loan

354

-

Revaluation of receivable resulting from CICE tax measure

-

127

Valuation changes relating to acquisition related contingent considerations

590

2,252

Other interest expenses

2,626

727

Currency translation differences

20

-

TOTAL FINANCE COSTS

11,302

12,275

EXCEPTIONAL FINANCE COSTS RELATING TO URSSAF ASSESSMENT

4,640

-

Interest received

350

35

Revaluation of receivable resulting from CICE tax measure

228

-

Revaluation of French government loan

-

2,684

Currency translation differences

-

17

TOTAL FINANCE INCOME

578

2,736

NET FINANCE COSTS

15,364

9,539

More information on the determination of finance costs on loans can be found in note 18. The valuation changes to acquisition-related contingent considerations is the result of a reconsideration of the earn-outs which are to be paid for former investments in subsidiaries.
The other interest expenses include € 1,583 expenses on the sale of the receivables from the CICE tax measure (note 13) and interest on current accounts held with banks.

Exceptional finance costs relates to the interest expense on the URSSAF liability (note 6).

The revaluation of the loan issued to the French government relates to the change in the market interest rate against which the cash flows from this loan are discounted. The interest received on this loan is lower than the market interest rate.