Note 13 — Property and Equipment
The table below shows the detailed movements which occurred in property and equipment during the years ended December 31, 2017, 2016 and 2015, considering cost and accumulated depreciation separately.
| Cost or valuation | Plant and machinery | Industrial and commercial equipment | Office and office-related equipment | Total | ||||||||||||
| Balance at January 1, 2015 | $ | 234,350 | $ | 989 | $ | 11,997 | $ | 247,336 | ||||||||
| Additions | 5,271 | – | 5,289 | 10,560 | ||||||||||||
| Disposals | (134,448 | ) | – | – | (134,448 | ) | ||||||||||
| Revaluations | (15,307 | ) | (91 | ) | (511 | ) | (15,909 | ) | ||||||||
| Balance at December 31, 2015 | $ | 89,866 | $ | 898 | $ | 16,775 | $ | 107,539 | ||||||||
| Additions | – | – | 1,480 | 1,480 | ||||||||||||
| Disposals | – | – | – | – | ||||||||||||
| Revaluations | (120 | ) | (22 | ) | (211 | ) | (353 | ) | ||||||||
| Balance at December 31, 2016 | $ | 89,746 | $ | 876 | $ | 18,044 | $ | 108,666 | ||||||||
| Additions | 289 | – | 2,104 | 2,393 | ||||||||||||
| Disposals | (1,207 | ) | – | (2,104 | ) | (3,311 | ) | |||||||||
| Revaluations | 457 | 150 | 831 | 1,438 | ||||||||||||
| Balance at December 31, 2017 | $ | 89,285 | $ | 1,026 | $ | 18,875 | $ | 109,186 | ||||||||
| Accumulated depreciation | Plant and machinery | Industrial and commercial equipment | Office and office-related equipment | Total | ||||||||||||
| Balance at January 1, 2015 | $ | 85,179 | $ | 108 | $ | 5,105 | $ | 90,392 | ||||||||
| Depreciation charge for the year | 469 | – | 3,114 | 3,583 | ||||||||||||
| Balance at December 31, 2015 | $ | 85,648 | $ | 108 | $ | 8,219 | $ | 93,975 | ||||||||
| Depreciation charge for the year | 495 | – | 3,149 | 3,644 | ||||||||||||
| Balance at December 31, 2016 | $ | 86,143 | $ | 108 | $ | 11,368 | $ | 97,619 | ||||||||
| Depreciation charge for the year | 855 | – | 3,098 | 3,953 | ||||||||||||
| Balance at December 31, 2017 | $ | 86,998 | $ | 108 | $ | 14,466 | $ | 101,572 | ||||||||
| Property and equipment, net at December 31, 2015 | $ | 4,218 | $ | 790 | $ | 8,556 | $ | 13,564 | ||||||||
| Property and equipment, net at December 31, 2016 | $ | 3,603 | $ | 768 | $ | 6,676 | $ | 11,047 | ||||||||
| Property and equipment, net at December 31, 2017 | $ | 2,287 | $ | 918 | $ | 4,409 | $ | 7,614 | ||||||||
Revaluations of the property and equipment arise from increase/(decreases) in the 2017, 2016 and 2015 year-end Euro currency exchange rate as compared to the US Dollar from the prior year.