This excerpt taken from the CRXL 20-F filed Apr 14, 2005.
Note 5. Plant and Equipment
Plant and equipment consist of the following:
At December 31, 2004 and 2003, the Company held laboratory equipment under capital leases with a cost of €4,021 and €3,462, respectively, and a net book value of approximately €2,266 and € 2,691, respectively. Such leases are secured by the value of the underlying assets. Interest expense on lease obligations, which approximates cash payments for interest during the year, was €212, €221 and €146 during the year ended December 31, 2004, 2003 and 2002, respectively.