26 Property, Plant and Equipment
Property, Plant and Equipment
in € million | Owner- occupied properties* | Technical equipment, plant and machinery* | Other equipment, fixtures, furniture and office equipment* | Construction in progress – Property, plant and equipment | Total | ||||||
Cost | |||||||||||
As of Jan. 1, 2025 | 376.3 | 335.4 | 375.5 | 92.1 | 1,179.3 | ||||||
Additions due to business combinations | 5.3 | 0.9 | 6.2 | ||||||||
Additions | 11.2 | 89.0 | 80.1 | 180.3 | |||||||
Capitalized modernization costs | 2.4 | 2.4 | |||||||||
Disposals | -8.4 | -11.8 | -38.5 | -58.7 | |||||||
Transfer from investment properties | 7.6 | 7.6 | |||||||||
Transfer to investment properties | -7.0 | -7.0 | |||||||||
Other transfers | 0.1 | 21.1 | -0.8 | -20.1 | 0.3 | ||||||
Revaluation from currency effects | 0.2 | 0.0 | 0.3 | 0.5 | |||||||
As of Dec. 31, 2025 | 387.7 | 433.7 | 417.5 | 72.0 | 1,310.9 | ||||||
Accumulated depreciation | |||||||||||
As of Jan. 1, 2025 | 81.2 | 144.4 | 209.9 | 435.5 | |||||||
Additions due to business combinations | 0.2 | 0.2 | |||||||||
Depreciation in reporting year | 18.5 | 29.8 | 53.5 | 101.8 | |||||||
Impairment | 1.8 | 1.8 | |||||||||
Reversal of impairments | -1.9 | -1.9 | |||||||||
Disposals | -2.9 | -6.2 | -25.3 | -34.4 | |||||||
Other transfers | 0.1 | 0.1 | -0.6 | -0.4 | |||||||
Revaluation from currency effects | 0.1 | 0.0 | 0.2 | 0.3 | |||||||
As of Dec. 31, 2025 | 96.9 | 168.1 | 237.9 | 502.9 | |||||||
Carrying amounts | |||||||||||
As of Dec. 31, 2025 | 290.8 | 265.6 | 179.6 | 72.0 | 808.0 | ||||||
Cost | |||||||||||
As of Jan. 1, 2024 | 354.5 | 329.3 | 354.5 | 17.5 | 1,055.8 | ||||||
Additions | 23.9 | 13.6 | 60.0 | 87.3 | 184.8 | ||||||
Capitalized modernization costs | 2.1 | 6.6 | 8.7 | ||||||||
Disposals | -9.2 | -37.6 | -41.0 | -87.8 | |||||||
Transfer from investment properties | 22.3 | 22.3 | |||||||||
Transfer to investment properties | -17.1 | -17.1 | |||||||||
Transfer from down payments made | 6.6 | 6.6 | |||||||||
Other transfers | 0.1 | 23.5 | 2.1 | -19.3 | 6.4 | ||||||
Revaluation from currency effects | -0.3 | 0.1 | -0.1 | -0.3 | |||||||
As of Dec. 31, 2024 | 376.3 | 335.5 | 375.5 | 92.1 | 1,179.4 | ||||||
Accumulated depreciation | |||||||||||
As of Jan. 1, 2024 | 68.7 | 144.4 | 187.6 | 400.7 | |||||||
Depreciation in reporting year | 17.6 | 29.0 | 53.6 | 100.2 | |||||||
Impairment | 5.6 | 0.2 | 0.3 | 6.1 | |||||||
Reversal of impairments | -1.6 | -1.6 | |||||||||
Disposals | -8.8 | -33.9 | -32.2 | -74.9 | |||||||
Other transfers | -0.1 | 4.6 | 0.7 | 5.2 | |||||||
Revaluation from currency effects | -0.1 | 0.1 | -0.1 | -0.1 | |||||||
As of Dec. 31, 2024 | 81.3 | 144.4 | 209.9 | 435.6 | |||||||
Carrying amounts | |||||||||||
As of Dec. 31, 2024 | 295.0 | 191.1 | 165.6 | 92.1 | 743.8 | ||||||
- *Prior-year adjustment due to the recognition of rights of use within the balance sheet items for property, plant, and equipment in accordance with IFRS 16.
Accounting Policies
Items of property, plant and equipment are carried at amortized cost less accumulated depreciation and are depreciated over their respective estimated useful lives on a straight-line basis. In accordance with IAS 36 “Impairment of Assets,” impairment tests are performed whenever there is an indication of an impairment.
Subsequent costs of replacing part of an item of property, plant and equipment are capitalized provided it is probable that future economic benefits associated with the item will flow to Vonovia and the cost can be estimated reliably.
The properties used by the company itself are subject to depreciation over a term of 50 years, with fixtures, furniture and office equipment subject to depreciation over a period of 3–13 years and technical equipment, plant and machinery over a period of 5–20 years.
The assets under construction - property, plant and equipment relate to photovoltaic facilities that have been assembled but are not yet ready for operation, or have not yet been connected to the electricity grid.
Carrying amounts of owner-occupied properties amounting to € 103.2 million as of December 31, 2025 (December 31, 2024: € 98.0 million) are encumbered with land charges in favor of various lenders.