17. Property, plant and equipment
Buildings | Others PP&E | Total | |
As at 1 January 2023 | 16 | 5 | 21 |
Investments | - | - | - |
Transfer within PP&E | - | - | - |
Depreciations | - | (1) | (1) |
Revaluation | (2) | - | (2) |
Right of use | - | - | - |
As at 31 December 2023 | 14 | 4 | 18 |
Investments | - | - | - |
Transfer within PP&E | - | - | - |
Depreciations | - | - | - |
Revaluation | 1 | - | 1 |
Right of use | - | - | - |
As at 31 December 2024 | 15 | 4 | 19 |
The economic life of the head office of Vesteda in Amsterdam ‘De Boel’ is set at twenty-five years and the residual value amounts to €5 million. An independent valuation expert valued the building at fair value for an amount of €14.6 million. For the determination of the fair value, please see Note 4.
De Boel cost specification
-
Cost price de Boel: €11 million
-
Accumulated depreciation: €1 million
-
Accumulated revaluation: €5 million
-
Balance: €15 million
The value of the other property, plant and equipment amounts to €4 million (2023: €4 million). Under the application of IFRS 16 Leases, the right of use of car lease contracts and office lease contracts is valued at €3 million.
Other property, plant and equipment specification
-
Acquisition costs: €9 million
-
Cumulative depreciation: €8 million
-
Right of use lease contracts: €3 million
-
Carrying amount: €4 million