x € 1,000
|
2023 |
2022 |
|
|
Loans granted to joint ventures |
9,096 |
8,742 |
|
Other long-term lending |
1,836 |
1,022 |
|
Deposits |
25,633 |
0 |
|
Balance at 31 December |
36,565 |
9,764 |
The guarantee amounts stem from the acquisition of Van Wanrooij and are related to prepayments already made on land purchases where ownership has not yet been transferred. Additional preparation costs were also incurred for these development positions, which were also subjected to a fair value step-up as part of the purchase price allocation. These additional costs and the fair value step-up have been recognised under inventories.
None of the loans granted falls due within one year (2022: € 1 million), € 1 million falls due between one and five years (2022: € 1 million) and € 7 million falls due after more than five years, including those with indefinite maturity (2022: € 7 million). The weighted average interest rate is approximately 4.8% (2022: 1.6%). The loans are repayable and are secured by pledged assets and by cash flows from projects being carried on by the joint ventures concerned. An appraisal has been made of the expected credit losses on the loans granted. There were no material implications for the carrying amounts.