(13) Tangible assets

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In the year being reviewed, tangible assets developed as follows:

In the previous year, tangible assets developed as follows:

Tangible assets include €32,546 thousand (prior year: €33,919 thousand) in leased real estate, which classify the Group as commercial owner due to the nature of the underlying leases (‘finance leases’). Depreciation on leased and rented property in the year under review totalled €1,006 thousand (prior year: €804 thousand).

In the year under review, land and buildings were put up as mortgage to back €35,159 thousand (prior year: €42,323 thousand) in liabilities due to banks.

Depreciation of factory and office equipment in fiscal 2008 include impairment losses of €1,287 thousand (prior year: €- thousand) resulting from the impairment test performed on these tangible assets. The valuation allowances have been recognized in the selling expenses.