9 Deferred tax liabilities
| | 2018 | 2017 |
Deferred tax liabilities | 903 | 718 |
Total | 903 | 718 |
A deferred tax liability of € 0.9 million has been recognised for the difference between the fiscal and commercial valuation of the participations of € 4.4 million at year-end 2018 (2017: € 2.9 million). The deferred tax liability is of a long-term nature.