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Operating Income
 12 Months Ended
Dec. 31, 2017
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Operating Income

Note 15: Operating Income

The operating income is broken down in the following manner:

 

     December 31,  
     2015      2016      2017  
     (thousands of Euros)  

Revenues

      202        —          —    

Research tax credit

      5,685        7,228        9,330  

Subsidies

      279        303        271  

Other operating income

      —          1,554        2,308  
  

 

 

     

 

 

     

 

 

  

Total

      6,166        9,084        11,909  
  

 

 

     

 

 

     

 

 

  

The revenues of the Company are composed of the sales of Diallertest® products whose commercialization was discontinued on September 1, 2015.

As of December 31, 2016 and 2017, the Company also recorded as other income a portion of the upfront fee and milestones agreed under the contract with Nestlé which are deferred over the performance obligation. As of December 31, 2017, we had recorded deferred revenue of €9.5 million related to our collaboration with Nestlé Health Science, which will be deferred and recognized ratably over the service obligation period. We expect the service obligation period to be completed in the second half of 2021.