Combined balance sheet
Assets
Real estate in operation
Real estate under develop
ment
Cost of purchase and con
struction, reduced by a
decrease in value applied in
1937
Depreciation applied
The total value of the real
estate in operation on the
basis of market value amounts
to
The real estate in course of
development is valued at the
costs, including interest
incurred for the projects con
cerned till the moment of lease
or sale.
Interest is calculated on the
amount invested at the average
interest rate for mortgage loans.
The valuation per project will
not exceed the market value
of the real estate.
The purchase sums amounting
to f 13.511.000 already
received on projects in pro
gress have been accounted for
under 'Payables and transitory
items'. The current liabilities of
the development projects as at
balance sheet date amount to
f 37.300.000.
1977
f 285.246.000
13.628.000
f 271.618.000
f 319.984.000
f 50.912.000
1979
f 218.652.00(1
10.406.0011
208.246.0001
f 241.233.000!
f 74.796.0001
