Debt / Liabilities

What a company owes to third parties. Liabilities appear on the right side of the balance sheet, alongside equity.

• Current liabilities: supplier invoices, social insurance contributions, VAT due, short-term credit, all payable within a year.
• Non-current liabilities: bank loans, mortgages and other commitments running beyond a year.

In everyday use, "debt" tends to mean borrowed money specifically, while "liabilities" covers every obligation, including unpaid invoices.