| Note | | 2017 | | 2016 |
Management fee | 13 | | 34,288 | | 30,722 |
| | | | | |
Operating costs | | | | | |
Personnel costs | 14 | 20,846 | | 19,276 | |
Depreciation costs | 1-2 | 955 | | 526 | |
Other operating costs | 13 | 7,733 | | 8,481 | |
Total operating costs | | | (29,534) | | (28,283) |
Operating result | | | 4,754 | | 2,439 |
| | | | | |
Result from participations | 16 | | 1,556 | | 1,589 |
| | | | | |
Interest income and expenses | 17 | | (96) | | (49) |
Result before taxes | | | 6,214 | | 3,979 |
| | | | | |
Corporate income tax | 18 | | (1,554) | | (1,384) |
Result after taxes | | | 4,660 | | 2,595 |