in thousands of EUR

2018

2017

Development costs

34,715

28,240

Conversion differences

–3,527

–3,252

Balance sheet value as at 31 December

31,188

24,988

Development costs

The movement in the statutory reserve for development costs is as follows:

in thousands of EUR

2018

2017

Balance sheet value as at 1 January

28,240

20,611

Transfer of other reserve

6,475

7,629

Balance sheet value as at 31 December

34,715

28,240

Conversion differences

The movement in the statutory reserve for conversion differences is as follows:

in thousands of EUR

2018

2017

Balance sheet value as at 1 January

–3,252

–2,071

Exchange results on participating interests

–275

–1,181

Balance sheet value as at 31 December

–3,527

–3,252