All amounts in € thousands
| Note | | 2018 | | 2017 |
Management fee | 13 | | 38,474 | | 34,288 |
| | | | | |
Operating costs | | | | | |
Personnel costs | 14 | 24,867 | | 20,846 | |
Depreciation costs | 1-2 | 848 | | 955 | |
Other operating costs | 15 | 10,410 | | 7,733 | |
Total operating costs | | | (36,125) | | (29,534) |
Operating result | | | 2,349 | | 4,754 |
| | | | | |
Result from participations | 16 | | 1,882 | | 1,556 |
| | | | | |
Interest income and expenses | 17 | | (95) | | (96) |
Result before taxes | | | 4,136 | | 6,214 |
| | | | | |
Corporate income tax | 18 | | (961) | | (1,554) |
Result after taxes | | | 3,175 | | 4,660 |