Figure 2 shows a breakdown of the net capital stock of fixed assets by asset category.
Research & Development (R&D) related assets declined for the fourth year in a row, from a peak of €417 billion in 2020 to €296 billion by the end of 2024 (see Table 2.1). The decline in these assets contributed to a fall in both the Manufacturing and the Information & Communication sectors. R&D assets make up the vast majority of Intangible Fixed Assets, which fell by €46 billion (-13.1%) in 2024 to a total of €309 billion.
All other asset categories saw growth in their value of net capital stock. Dwellings, excluding land, increased by €36 billion (+8.4%) to a total of €473 billion by the end of the year, contributing significantly to growth in the Real Estate sector. Other Buildings & Structures increased in value by €13 billion (+4.2%) to stand at a total of €311 billion.
Transport Equipment increased by €2 billion (+1.1%) to a total of €173 billion by the end of the year, while Other Machinery & Equipment increased by €4 billion (+8.5%) to a total of €53 billion.
| X-axis label | Other Assets | Other Machinery & Equipment | Transport Equipment | Other Buildings & Structures | Dwellings, excluding land | Research & Development |
|---|---|---|---|---|---|---|
| 2019 | 8.28287353550014 | 34.6837658501 | 158.4023447083 | 202.5977709217 | 263.59500512 | 388.751998399699 |
| 2020 | 9.02120509929978 | 34.0755772305 | 156.5066986575 | 214.8492764779 | 278.0793752052 | 416.9313169011 |
| 2021 | 9.94493765669968 | 36.5096532928 | 155.4934269504 | 244.0352862546 | 307.128311994 | 383.582572209901 |
| 2022 | 12.9132743669997 | 43.3484520517 | 158.5162423367 | 280.115248236 | 371.555799424 | 362.8428255898 |
| 2023 | 13.8850641445001 | 48.5650553789 | 171.8068121482 | 299.1077197167 | 436.8688460525 | 344.609809222 |
| 2024 | 15.9527061778998 | 52.6998712286 | 173.6399558384 | 311.7473683901 | 473.355507805 | 296.1161157931 |
Depreciation in Research & Development assets accounts for over 60% of the €135 billion in consumption of fixed capital in 2024 (see Table 2.5). Depreciation of R&D stood at €85 billion in 2024, an increase of €3 billion (+3.4%).
Consumption of fixed capital of Dwellings, excluding land, stood at €9 billion (+7.9%) while Other Buildings & Structures depreciated by €13 billion (+4.1%).
Transport Equipment assets depreciated by €15 billion (+2.6%) while Other Machinery & Equipment assets depreciated by €7 billion (+9.7%).
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