A breakdown of other financial assets is provided in the following table:
|(€ thousand)||31 December 2013||31 December 2012||Change|
|Fees receivable for guarantees given||13,953||12,035||1,918|
|Total other financial assets||14,028||12,109||1,919|
Fees receivable for guarantees given represent the present value of fees to be received in future years for guarantees issued by the Company (mainly relating to loans of Group companies).
Debt securities consist of listed Italian government securities pledged to fund scholarship grants.
A breakdown of other financial assets by maturity is as follows:
|(€ thousand)||31 December 2013||31 December 2012|
|Other financial assets|
|due within one year||4,397||3,789|
|due after one year but within five years||9,465||8,254|
|due beyond five years||166||66|