HomepageFinancial information

Financial information

Key figures

  • €6.2bn portfolio value
  • €338m 2024 rental income
  • 41.3% debt-to-assets ratio
  • €4.93/share 2024 EPRA Earnings

Consolidated accounts

  • Download the consolidated income statement in excel
    (x 1,000 €)

    31/12/2024

    31/12/2023

    31/12/2022

    I.Rental income338,138314,174273,132
    II.Writeback of lease payments sold and discounted000
    III.Rental-related charges-157-1,134-1,589
    Net rental income337,981313,040271,543
    IV.Recovery of property charges300
    V.Recovery of rental charges and taxes normally paid by tenants on let properties8,9697,1933,934
    VI.Costs payable by the tenant and borne by the landlord on rental damage and repair at end of lease000
    VII.Rental charges and taxes normally paid by tenants on let properties-8,852-7,205-3,979
    VIII.Other rental-related income and charges621-90355
    Property result338,722312,938271,853
    IX.Technical costs-3,907-3,169-3,373
    X.Commercial costs-39-58-29
    XI.Charges and taxes on unlet properties-145-114-53
    XII.Property management costs-6,918-6,452-4,655
    XIII.Other property charges-1,552-1,424-1,110
    Property charges-12,561-11,217-9,220
    Property operating result326,161301,721262,633
    XIV.Overheads-35,074-35,740-33,556
    XV.Other operating income and charges-831-171597
    Operating result before result on portfolio290,256265,810229,674
    XVI.Gains and losses on disposals of investment properties374-856787
    XVII.Gains and losses on disposals of other non-financial assets000
    XVIII.Changes in fair value of investment properties°15,195-143,63684,877
    XIX.Other result on portfolio-30,235-26,072-18,103
    Operating result275,59095,246297,235
    XX.Financial income9713,0061,606
    XXI.Net interest charges-46,701-45,004-30,651
    XXII.Other financial charges-5,176-5,181-7,194
    XXIII.Changes in fair value of financial assets and liabilities-18,708-50,878123,242
    Net finance costs-69,614-98,057-87,003
    XXIV.Share in the profit or loss of associates and joint ventures accounted for using the equity method-571-2562,168
    Profit before tax (loss)205,405-3,067386,406
    XXV.Corporate tax-44925,565-54,345
    XXVI.Exit tax13554-330
    Tax expense-31425,619-54,675
    Profit (loss)205,09122,552331,731
    Attributable to:
    Non-controlling interests260-1,983-47
    Owners of the parent204,83124,535331,778
    Basic earnings per share (€)4.310.568.71
    Diluted earnings per share (€)4.310.568.71
  • Download the consolidated balance sheet in excel
    ASSETS31/12/202431/12/202331/12/202231/12/2021
    (x 1.000 €)
    I.Non-current assets
    A.Goodwill87,363117,597143,669161,726
    B.Intangible assets1,0471,6631,8571,934
    C.Investment properties6,117,9325,790,3575,619,7014,861,062
    D.Other tangible assets4,3482,1842,5732,369
    E.Non-current financial assets54,27398,665132,3227,479
    F.Finance lease receivables0000
    G.Trade receivables and other non-current assets0000
    H.Deferred tax assets8233,0234,6623,116
    I.Equity-accounted investments31,58635,98540,82440,522
    Total non-current assets6,297,3726,049,4745,945,6085,078,208
    II.Current assets
    A.Assets classified as held for sale100,20758,15884,03335,360
    B.Current financial assets0000
    C.Finance lease receivables0000
    D.Trade receivables19,52623,29023,57720,434
    E.Tax receivables and other current assets11,3349,38410,2737,368
    F.Cash and cash equivalents18,45118,25313,89115,335
    G.Deferred charges and accrued income16,93418,2528,1585,162
    Total current assets166,452127,337139,93283,659
    TOTAL ASSETS6,463,8246,176,8116,085,5405,161,867

     

    EQUITY AND LIABILITIES31/12/202431/12/202331/12/202231/12/2021
    (x 1.000 €)
    I.Issued capital and reserves attributable to owners of the parent
    A.Capital1,203,6381,203,6381,006,881917,101
    B.Share premium account1,719,0011,719,0011,516,1081,301,002
    C.Reserves515,505628,688428,018281,244
    a. Legal reserve0000
    b. Reserve for the balance of changes in fair value of investment properties364,698481,914389,859349,234
    d. Reserve for the balance of changes in fair value of authorised hedging instruments qualifying for hedge accounting as defined under IFRS1,7084,3448,945-12,784
    e. Reserve for the balance of changes in fair value of authorised hedging instruments not qualifying for hedge accounting as defined under IFRS62,735113,177-11,193-26,872
    f. Reserve of exchange differences relating to foreign currency monetary items58-294-45172
    g. Foreign currency translation reserves33,47164-13,62924,869
    h. Reserve for treasury shares-459-31-310
    j. Reserve for actuarial gains and losses of defined benefit pension plans-363-244-990
    k. Reserve for deferred taxes on investment properties located abroad-88,576-112,367-71,715-24,696
    m. Other reserves-669-3,2772503,015
    n. Result brought forward from previous years136,099136,909117,02387,532
    o. Reserve- share NI & OCI of equity method invest6,8038,4939,0595,894
    D.Profit (loss) of the year204,83124,535331,778281,824
    Equity attributable to owners of the parent3,642,9753,575,8623,282,7852,781,171
    II.Non-controlling interests5,1225,0396,5644,226
    TOTAL EQUITY3,648,0973,580,9013,289,3492,785,397
    I.Non-current liabilities
    A.Provisions0000
    B.Non-current financial debts2,065,1941,958,7502,017,2561,756,679
    a. Borrowings1,263,1111,166,9151,240,399959,522
    c. Other802,083791,835776,857797,157
    C.Other non-current financial liabilities94,90190,94382,23296,154
    a. Authorised hedges10,9229,7603,85833,326
    b. Other83,97981,18379,37462,828
    D.Trade debts and other non-current debts124251375500
    E.Other non-current liabilities0000
    F.Deferred tax liabilities133,238138,658164,117121,283
    Non-current liabilities2,293,4572,188,6022,263,9801,974,616
    II.Current liabilities
    A.Provisions0000
    B.Current financial debts448,442321,549435,164324,398
    a. Borrowings134,39278,949172,16448,398
    c. Other314,050242,600263,000276,000
    C.Other current financial liabilities3,2812,7983,4872,616
    D.Trade debts and other current debts48,93357,17766,85350,109
    a. Exit tax1,400445,990298
    b. Other47,53357,13360,86349,811
    E.Other current liabilities0000
    F.Accrued charges and deferred income21,61425,78426,70724,731
    Total current liabilities522,270407,308532,211401,854
    TOTAL LIABILITIES2,815,7272,595,9102,796,1912,376,470
    TOTAL EQUITY AND LIABILITIES6,463,8246,176,8116,085,5405,161,867
  • Download the EPRA key figures in excel

    31/12/2024

    31/12/2023

    31/12/2022

    EPRA Earnings (in €/share)4.935.024.76
    EPRA NRV (in €/share)86.4684.1791.74
    EPRA NTA (in €/share)76.6374.1879.71
    EPRA NDV (in €/share)77.1975.4183.92
    EPRA Net Initial Yield (NIY) (in %)5.3 %5.3 %4.9 %
    EPRA Topped-up NIY (in %)5.5 %5.4 %5.1 %
    EPRA Vacancy Rate (in %)0.1 %0.1 %0.4 %
    EPRA Cost Ratio (including direct vacancy costs) (in %)14.2 %15.4 %15.9 %
    EPRA Cost Ratio (excluding direct vacancy costs) (in %)14.1 %15.4 %15.9 %

     

Get directions

Do you want to pay us a visit at the office? The coffee is ready, you are more than welcome.

We have made sure that you can easily get to our head office in Brussels by public transport: you can reach us by train, metro, bus and bicycle.

If you come by train, you can get off at the station of Brussels-Luxemburg or Brussels-Central. From there you can easily continue on foot to rue Belliard 40. If you come by international train, you get off at Brussels-South station and take metro line 2 or 6 to Trône/Troon or Arts-Loi/Kunst-Wet.

If you come by metro, you can take line 1 or 5 to Arts-Loi/Kunst-Wet or Maelbeek/Maalbeek, or you can take line 2 or 6 to Trône/Troon or Arts-Loi/Kunst-Wet.

If you come by bus, you can take line 21, 27 and 64 to Trêves/Trier, or line 27, 34, 38, 64, 80 and 95 to Science/Wetenschap.

If you take a villo! sharing bike, you can easily park your bike in the Charlemagne/Karel De Grote bike station right in front of our office.

Of course, you can also reach us by car, but we encourage you to consider the environment and use public transport or other eco-friendly transportation options.