9. Management expenses

The management expenses comprise:

 

2018

2017

Salaries

14

14

Social security charges

2

1

Pension charges

2

2

Depreciation expenses

1

1

Other operating expenses

13

11

Gross property management costs

32

29

   

Presented within net rental income

(14)

(13)

   

Total

18

16

Management expenses came in at €18 million, €2 million more than the €16 million recorded in 2017 due to the release of reorganisation provision in 2017 and IT-related costs in 2018.

The Vesteda Companies employed an average of 200 people (2017: 197) in the year under review; this was an average of 183.4 FTEs (2017: 178.8 FTEs).

All employees are employed in the Netherlands.