TlB Annual Report 2009 - Triodos Bank

The movement in goodwill paid is as follows:
2009 2008
Purchase value as at 1 January 701 701
Cumulative amortisation as at 1 January -330 -265
Balance sheet value as at 1 January 371 436
Purchase 199 —
Amortisation -65 -65
Balance sheet value as at 31 December 505 371
The development costs for information systems
The development costs for information systems contains costs for the development of the Bank’s ICT
system. After a technical assessment of the banking system by an external company in 2009 the current
end-of-life date of December 2013 is extended to December 2016. The lower costs caused by the extension
of the estimated life, in the amount of EUR 0.8 million per year, is recognised prospectively in the profit
and loss account, for the first time in 2009. This positive effect is also expected for the coming four years.
The investment in the banking system has been impaired in 2009 as a result of the decision to outsource
ICT in Spain. The impairment loss is recognised in the profit and loss account for an amount of EUR 1.3
million.
The movement in the development costs for the information systems item is as follows:
2009 2008
Purchase value as at 1 January 13,611 10,717
Cumulative amortisation as at 1 January -4,398 -2,927
Balance sheet value as at 1 January 9,213 7,790
Capitalised expenses 3,445 2,893
Amortisation -1,353 -1,470
Impairments -1,338 —
Balance sheet value as at 31 December 9,967 9,213
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.
98 TRIODOS BANK - ANNUAL REPORT 2009