9 Deferred tax liabilities
| | 2017 | 2016 |
Deferred tax liabilities | 718 | 415 |
Total | 718 | 415 |
A deferred tax liability of € 0.7 million has been recognised for the difference between the fiscal and commercial valuation of the participations of € 2.9 million at year-end 2017 (2016: € 1.7 million). The deferred tax liability is of a long-term nature.