| LEASES |
NOTE 11 – LEASES Right of use assets | | | | | | | | | | | 1 January | | | | | | 31 December | | | 2024 | | Additions | | Disposals | | 2024 | | | | | | | | | | Cost: | | | | | | | | | Buildings | | 1,957,391 | | 781,741 | | — | | 2,739,132 | Furniture and fixtures | | 827,442 | | — | | (4,224) | | 823,218 | Software and rights | | 248,205 | | — | | — | | 248,205 | Vehicles | | 483,988 | | 232,398 | | — | | 716,386 | | | | | | | | | | Total | | 3,517,026 | | 1,014,139 | | (4,224) | | 4,526,941 | | | | | | | | | | Accumulated amortization: | | | | | | | | | Buildings | | (1,526,295) | | (330,184) | | — | | (1,856,479) | Furniture and fixtures | | (560,264) | | (113,489) | | 3,246 | | (670,507) | Software and rights | | (210,874) | | (7,080) | | — | | (217,954) | Vehicles | | (403,097) | | (79,139) | | — | | (482,236) | | | | | | | | | | Total | | (2,700,530) | | (529,892) | | 3,246 | | (3,227,176) | | | | | | | | | | Net book value | | 816,496 | | | | | | 1,299,765 |
| | | | | | | | | | | 1 January | | | | | | 31 December | | | 2023 | | Additions | | Disposals | | 2023 | | | | | | | | | | Cost: | | | | | | | | | Buildings | | 1,633,493 | | 323,898 | | — | | 1,957,391 | Furniture and fixtures | | 823,141 | | 11,657 | | (7,356) | | 827,442 | Software and rights | | 246,286 | | 1,919 | | — | | 248,205 | Vehicles | | 454,767 | | 29,221 | | — | | 483,988 | | | | | | | | | | Total | | 3,157,687 | | 366,695 | | (7,356) | | 3,517,026 | | | | | | | | | | Accumulated amortization: | | | | | | | | | Buildings | | (1,198,983) | | (327,312) | | — | | (1,526,295) | Furniture and fixtures | | (427,422) | | (138,943) | | 6,101 | | (560,264) | Software and rights | | (183,227) | | (27,647) | | — | | (210,874) | Vehicles | | (304,775) | | (98,322) | | — | | (403,097) | | | | | | | | | | Total | | (2,114,407) | | (592,224) | | 6,101 | | (2,700,530) | | | | | | | | | | Net book value | | 1,043,280 | | | | | | 816,496 |
NOTE 11 – LEASES (Continued) Lease liabilities | | | | | | | 2024 | | 2023 | | | | | | Short-term lease liabilities | | 409,083 | | 223,171 | Long-term lease liabilities | | 583,686 | | 175,882 | | | | | | | | 992,769 | | 399,053 |
Maturity analysis of lease liabilities is disclosed in Note 22 and the movement of lease liabilities is disclosed in Note 24. Lease liabilities are discounted using the Group’s incremental borrowing rates and implicit rate in the lease (where applicable). As of 31 December 2024, the weighted average annual incremental borrowing rates of the Group for TRY is 43% (2023: TRY; 29%). The Group has adopted the practical expedient included in IFRS 16 for short-term lease agreements with a lease term of 12 months or less and lease agreements determined by the Group as having a low value. The Group accounts for the lease payments in other operating expenses in the period in which they are incurred. Such expenses are not material to the Group’s consolidated financial statements.
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