in thousands of EUR

2018

2017

Property for own use

91,640

57,552

Equipment

12,897

15,342

Balance sheet value as at 31 December

104,537

72,894

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

in thousands of EUR

2018

2017

Purchase value as at 1 January

64,869

46,930

Cumulative revaluation as at 1 January

–1,596

–1,782

Cumulative depreciation as at 1 January

–5,721

–5,157

 

 

 

Balance sheet as at 1 January

57,552

39,991

Purchase

35,155

18,990

Depreciation

–921

–1,067

Revaluation

186

Exchange rate differences

–146

–548

Balance sheet value as at 31 December

91,640

57,552

 

 

 

Purchase value as at 31 December

99,865

64,869

Cumulative revaluation as at 31 December

–1,596

–1,596

Cumulative depreciation as at 31 December

–6,629

–5,721

Balance sheet value as at 31 December

91,640

57,552

The purchase in 2018 of EUR 35,155 (2017: EUR 11,712) relates to the development of a new office building in The Netherlands.

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. 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

2018

2017

1

excluding disposal in the amount of EUR 3.4 million (2017: EUR 1.3 million).

Purchase value as at 1 January

38,587

36,968

Cumulative depreciation as at 1 January

–23,245

–20,468

 

 

 

Balance sheet value as at 1 January

15,342

16,500

Purchase

1,859

3,031

Sale1

–54

Depreciation1

–4,232

–4,124

Exchange rate differences

–18

–65

Balance sheet value as at 31 December

12,897

15,342

 

 

 

Purchase value as at 31 December

36,982

38,587

Cumulative depreciation as at 31 December

–24,085

–23,245

Balance sheet value as at 31 December

12,897

15,342