10. Management expenses

The management expenses comprise:

 

2019

2018

Salaries

14

14

Social security charges

2

2

Pension charges

2

2

Depreciation expenses

2

1

Other operating expenses

15

13

Gross property management costs

35

32

   

Presented within net rental income

(12)

(14)

   

Total

23

18

Management expenses came in at €23 million, €5 million more than the €18 million recorded in 2018 due to lower recharged property sales expenses, lower recharged property sales expenses and higher other operating expenses in 2019.

The Vesteda Companies employed an average of 207 people (2018: 200) in the year under review; this was an average of 189.3 FTEs (2018: 183.4 FTEs). All employees are employed in the Netherlands.