INTEGRATED
REPORT
2019

12.5.4. Change in liabilities from contracts with customers

2019 2018
At the beginning of the period 231 198
Revenues recognised in a given reporting period, included in the balance of liabilities  from contracts at the beginning of the period (120) (132)
Revenue adjustments 79 75
Advances received, prepayments 58 106
Others (2) (16)
246 231

The Group fulfils its liabilities from contracts with customers  with respect to advance payments received, prepayments up to one year. Revenues adjustments are related to deferred part of revenue related to the loyalty program VITAY, according to which the customer is entitled to future benefits (so-called VITAY points). Points are valid for 3 years from the date they were obtained. During this period, the Group expects to satisfy a performance obligation by exchanging collected points for transfered goods / services to customers and recognise revenues.

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