The movements in right-of-use assets were as follows:
x € 1,000
|
2023 |
01 January 2023 |
Included in the consolidation |
Depreciation |
Additions |
Changes in lease period and other changes |
31 December 2023 |
|
Office buildings |
38,691 |
8,488 |
-9,750 |
201 |
3,257 |
40,887 |
|
Vehicle fleet |
26,169 |
637 |
-13,876 |
26,458 |
563 |
39,951 |
|
Other equipment |
7,125 |
0 |
-5,537 |
5,332 |
1,845 |
8,765 |
|
Total |
71,985 |
9,125 |
-29,163 |
31,991 |
5,665 |
89,603 |
|
2022 |
01 January 2022 |
Included in the consolidation |
Depreciation |
Additions |
Changes in lease period and other changes |
31 December 2022 |
|
Office buildings |
38,869 |
-8,569 |
2,185 |
6,206 |
38,691 |
|
|
Vehicle fleet |
25,895 |
-11,262 |
11,985 |
-449 |
26,169 |
|
|
Other equipment |
8,870 |
-4,575 |
2,298 |
532 |
7,125 |
|
|
Total |
73,634 |
-24,406 |
16,468 |
6,289 |
71,985 |
The amounts in the column headed 'Changes in lease period and other changes' are connected with lease renewals and rent increases.
The movement in the lease liabilities was as follows:
x € 1,000
|
2023 |
01 January 2023 |
Included in the consolidatioin |
Additions |
Lease payments |
Interest |
Changes in lease period and other changes |
31 December 2023 |
|
Office buildings |
38,139 |
8,488 |
201 |
-10,977 |
1,269 |
2,501 |
39,621 |
|
Vehicle fleet |
26,679 |
637 |
26,458 |
-14,816 |
1,113 |
633 |
40,704 |
|
Other equipment |
7,372 |
0 |
5,332 |
-6,076 |
412 |
2,528 |
9,568 |
|
Total |
72,190 |
9,125 |
31,991 |
-31,869 |
2,794 |
5,662 |
89,893 |
|
2022 |
01 January 2022 |
Additions |
Lease payments |
Interest |
Changes in lease period and other changes |
31 December 2022 |
|
|
Office buildings |
38,232 |
2,064 |
-9,727 |
1,193 |
6,377 |
38,139 |
|
|
Vehicle fleet |
26,465 |
11,886 |
-11,772 |
617 |
-517 |
26,679 |
|
|
Other equipment |
8,987 |
2,298 |
-4,952 |
303 |
736 |
7,372 |
|
|
Total |
73,684 |
16,248 |
-26,451 |
2,113 |
6,596 |
72,190 |
The maturity of the lease liabilities (based on due dates of the lease instalments) per category of underlying asset can be analysed as follows:
x € 1,000
|
31 December 2023 |
Total lease instalments payable |
< 1 year |
1-5 years |
> 5 years |
|
Office buildings |
45,358 |
8,355 |
30,748 |
6,255 |
|
Vehicle fleet |
42,860 |
15,896 |
26,866 |
98 |
|
Other equipment |
10,099 |
5,124 |
4,939 |
36 |
|
Total |
98,317 |
29,375 |
62,553 |
6,389 |
|
31 December 2022 |
Total lease instalments payable |
< 1 year |
1-5 years |
> 5 years |
|
Office buildings |
43,932 |
10,276 |
26,992 |
6,664 |
|
Vehicle fleet |
27,544 |
11,332 |
16,212 |
0 |
|
Other equipment |
7,797 |
3,411 |
4,182 |
204 |
|
Total |
79,273 |
25,019 |
47,386 |
6,868 |
The Group is committed to meeting future lease obligations as at the reporting date that are still on order; this amounted to approximately € 11 million in 2023 (2022: € 0 million).
The interest expense on the lease liabilities in 2023 amounted to € 2.8 million (2022: € 2.1 million).
In 2023, the cost of short-term leases for which right-of-use assets have not been recognised amounted to € 109 million (2022: € 94 million). This is largely related to short-term equipment rental on projects.
The total cash outflow relating to leases amounted to € 143 million in 2023 (2022: € 123 million). This includes the aforementioned short-term rental of equipment on projects.
The weighted average incremental borrowing rate that was to determine the amount of the liability was 4% in 2023 (2022: 3%).