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8. Intangible fixed assets

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Amounts in thousands of EUR

2013

2012

 

 

 

Goodwill paid

84

190

Development costs for information systems

7,621

8,361

Management contracts

2,569

2,771

Computer software

1,536

963

 

 

 

 

 

 

 

11,810

12,285

 

 

 

The goodwill paid relates to:

  • goodwill that Triodos Fonds Management paid to Triodos Investment Management in 2004 to acquire research activities. At the end of 2013 this goodwill is fully armortised;
  • goodwill that Triodos Bank paid to Triodos Investments España in 2004, 2005 and an addition in 2009 to buy off the rights to the future profit made by the branch in Spain.

The movement in goodwill paid is as follows:

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Amounts in thousands of EUR

2013

2012

 

 

 

Purchase value as at 1 January

900

900

Cumulative amortisation as at 1 January

–710

–605

 

 

 

 

 

 

Balance sheet value as at 1 January

190

295

Purchase

Amortisation

–106

–105

 

 

 

 

 

 

Balance sheet value as at 31 December

84

190

 

 

 

The development costs for information systems

The development costs for information systems contain costs for the development of a Bank’s ICT system. After a technical assessment of this banking system in 2013 the current end-of-life date of December 2016 is extended to December 2020. The lower costs caused by the extension of the estimated life, in the amount of EUR 0.9 million per year, is recognised prospectively in the profit and loss account, for the first time in 2013. This positive effect is also expected for the coming four years. The investment in this banking system has also been impaired in 2013 as a result of the decision to buy a new ERP system for Triodos Investment Management. The impairment loss is recognised in the profit and loss account for an amount of EUR 0.2 million.

The movement in the development costs for the information systems item is as follows:

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Amounts in thousands of EUR

2013

2012

*

excluding disposal in the amount of EUR 2.0 million (2012: EUR 0.0 million).

 

 

 

Purchase value as at 1 January

21,558

20,534

Cumulative amortisation as at 1 January

–13,197

–11,005

 

 

 

 

 

 

Balance sheet value as at 1 January

8,361

9,529

Capitalised expenses

1,046

1,218

Amortisation*

–1,604

–2,386

Impairments

–182

 

 

 

 

 

 

Balance sheet value as at 31 December

7,621

8,361

 

 

 

Management contracts

The management contracts relate to contracts for the management of funds by Triodos Investment Management. When it acquired its participating interest in Triodos Investment Management, Triodos Bank paid a sum for this to Triodos Holding.

The movement in management contracts is as follows:

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Amounts in thousands of EUR

2013

2012

 

 

 

Purchase value as at 1 January

4,030

4,030

Cumulative amortisation as at 1 January

–1,259

–1,058

 

 

 

 

 

 

Balance sheet value as at 1 January

2,771

2,972

Amortisation

–202

–201

 

 

 

 

 

 

Balance sheet value as at 31 December

2,569

2,771