Trade receivables

At 31 December 2013, trade receivables totaled €7,214 thousand, a net increase of €2,458 thousand over 31 December 2012, and included the following:

(€ thousand)31 December 201331 December 2012Change
Third parties      
  • Receivables
6,271 2,926 3,345
  • Allowance for doubtful accounts
(156) (156) -
Total third parties 6,115 2,770 3,345
Trade receivables due from Group companies and other related parties 1,099 1,986 (887)
Total trade receivables 7,214 4,756 2,458

Receivables from third parties mainly relate to amounts due from Rete Ferroviaria Italiana S.p.A. for work completed on high-speed sections of rail line. Those receivables match the amounts payable to the CAV.E.T. and CAV.TO.MI. consortia for contract work completed (see Note 23).

Trade receivables due from Group companies and other related parties include adjustments made following reassessment of amounts receivable for services provided and other items receivable.

The allowance for doubtful accounts has been calculated on the basis of an assessment of the risk on a number of minor receivables from others.

The carrying amount of trade receivables is deemed to approximate their fair value.

All trade receivables are due within one year and there are no significant amounts overdue.