in thousands of EUR

2019

2018

Property for own use

89,650

91,640

Equipment

34,546

12,897

Property not for own use

11,012

11,324

Balance sheet value as at 31 December

135,208

115,861

Prior year figures have been adjusted for an amount of EUR 11,324 due to a transfer of repossessed assets from other assets to property not for own use. For further explanation see the general accounting principles.

The movement in the property for own use is as follows:

in thousands of EUR

2019

2018

1

With the realisation of a new office building in The Netherlands in 2019 a part of the development cost of this building in the amount of EUR 4,663 has been transferred to equipment.

Purchase value as at 1 January

99,865

64,869

Cumulative revaluation as at 1 January

–1,596

–1,596

Cumulative depreciation as at 1 January

–6,629

–5,721

 

 

 

Balance sheet as at 1 January

91,640

57,552

Purchase

3,724

35,155

Depreciation

–1,043

–921

Revaluation

Transfer to equipment1

–4,663

Exchange rate differences

–8

–146

Balance sheet value as at 31 December

89,650

91,640

 

 

 

Purchase value as at 31 December

98,995

99,865

Cumulative revaluation as at 31 December

–1,596

–1,596

Cumulative depreciation as at 31 December

–7,749

–6,629

Balance sheet value as at 31 December

89,650

91,640

Property for Triodos Bank’s own use includes land which is leased with a carrying amount of EUR 3.5 million based on the market value. Triodos Bank is not the legal owner of this land. The lease payments are negotiated for forty years with a starting, annual payment of EUR 0.2 million. The lease payment will be adjusted annually based on the consumer price index.

The movement in equipment is as follows:

in thousands of EUR

2019

2018

1

The purchase mainly relates to the investment in the installation and the inventory of the new office building in The Netherlands.

2

Excluding disposal in the amount of EUR 3.0 million (2018: EUR 3.4 million).

3

With the realisation of a new office building in The Netherlands in 2019 a part of the development cost in the amount of EUR 4,663 has been transferred from property for own use to equipment.

Purchase value as at 1 January

36,982

38,587

Cumulative depreciation as at 1 January

–24,085

–23,245

 

 

 

Balance sheet value as at 1 January

12,897

15,342

Purchase1

21,638

1,859

Sale2

–4

–54

Depreciation2

–4,614

–4,232

Impairment

–60

Transfer from property for own use3

4,663

Exchange rate differences

26

–18

Balance sheet value as at 31 December

34,546

12,897

 

 

 

Purchase value as at 31 December

60,460

36,982

Cumulative depreciation as at 31 December

–25,914

–24,085

Balance sheet value as at 31 December

34,546

12,897

The movement in the property not for own use is as follows:

in thousands of EUR

2019

2018

Purchase value as at 1 January

12,589

10,979

Cumulative depreciation as at 1 January

–1,265

–1,014

 

 

 

Balance sheet as at 1 January

11,324

9,965

New foreclosed assets

41

1,610

Depreciation

–239

–224

Impairments

–114

–27

Balance sheet value as at 31 December

11,012

11,324

 

 

 

Purchase value as at 31 December

12,630

12,589

Cumulative depreciation as at 31 December

–1,618

–1,265

Balance sheet value as at 31 December

11,012

11,324