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Financial liabilities

in CHF 000   2020   2019
Current liabilities to banks   2 000   22 072
Current financial liabilities from leases   13 938   11 223
Other current financial liabilities to third parties   350   603
Other current financial liabilities to associates / joint ventures   3 000  
Current financial liabilities   19 289   33 898
         
Non-current liabilities to banks    
Non-current liabilities from leases   54 247   33 036
Non-current loans to related companies   17 855   15 121
Other non-current financial liabilities to third parties   1 838   2 225
Non-current financial liabilities   73 940   50 382
Financial liabilities   93 228   84 280
         
Weighted average interest rate        
Due within 1 year   1.0%   0.6%
Due 1 to 5 years   0.9%   1.3%
Due beyond 5 years   n/a   n/a

Current and non-current financial liabilities increased by CHF 8.9 million to CHF 93.2 million. The bank liability of Goldbach Group AG in the amount of CHF 20.0 million was repaid in January 2020, which means the Goldbach Group no longer had any open bank liability as of the end of 2020. Other current bank liabilities increased by CHF 0.5 million to CHF 2.0 million.

As of the balance sheet date, there were current lease liabilities in the amount of CHF 13.9 million (previous year: CHF 11.2 million) and non-current lease liabilities in the amount of CHF 54.2 million (previous year: CHF 33.0 million). The increase in lease liabilities is partly attributable to the recording of the lease for new premises of JobCloud AG, the extension of the lease for Goldbach Media (Switzerland) AG and the recording of leases in the out-of-home area.

Besides the increased lease liability, there is also an increase in non-current financial liabilities due to higher loans from related parties to Group companies. Other non-current financial liabilities to third parties still comprise the contractually assumed obligation of CHF 1.5 million (previous year: CHF 1.7 million) in connection with the “ETH Media Technology Initiative” development partnership. The current portion of this, CHF 0.3 million, has been recognised under other current financial liabilities.

Cash flow associated with net financial liabilities
in CHF 000   Cash and cash
equivalents
  Current
financial
assets
  Current
financial
receivables
  Current
financial
liabilities
  Non-current
financial
liabilities
  Net
financial
liabilities
As of 31 December 2018   145 923   1 187   26 354   (125 680)   (33 193)   14 590
Effect of introducing IFRS 16 "Leases"         (10 167)   (44 259)   (54 427)
As of 1 January 2019   145 923   1 187   26 354   (135 848)   (77 453)   (39 836)
Addition / Disposal of cash and cash equivalents and current financial assets   278 025     6 940       284 965
Proceeds of financial liabilities   6 601       (1 495)   (5 106)  
Repayment of financial liabilities   (128 377)       126 970   1 407  
Repayments of leasing liabilities   (11 875)       11 875    
Investment in consolidated companies   (6 397)           (6 397)
Disposals of consolidated companies   7 904           7 904
Other non-cash changes     (1 187)     (4 178)   (454)   (5 819)
Transfers         (31 223)   31 223  
Currency effects   (608)           (608)
As of 31 December 2019   291 194     33 294   (33 898)   (50 382)   240 208
                         
As of 1 January 2020   291 194     33 294   (33 898)   (50 382)   240 208
Addition / Disposal of cash and cash equivalents and current financial assets   (3 577)     (9 581)       (13 158)
Proceeds of financial liabilities   7 792       (3 500)   (4 292)  
Repayment of financial liabilities   (22 032)       20 599   1 433  
Repayments of leasing liabilities   (15 386)       15 386    
Disposals of consolidated companies   18 173           18 173
Other non-cash changes     311   12 225   (15 161)   (23 414)   (26 038)
Transfers         (2 715)   2 715  
Currency effects   (11)           (11)
As of 31 December 2020   276 153   311   35 938   (19 289)   (73 940)   219 174