(x 1,000 €) | 31/12/2021 | 31/12/2020 (18M) | 30/06/2019 (12M) | |
---|---|---|---|---|
I. | Rental income | 232,118 | 259,505 | 91,677 |
II. | Writeback of lease payments sold and discounted | 0 | 0 | 0 |
III. | Rental-related charges | -686 | -3,344 | -80 |
Net rental income | 231,432 | 256,161 | 91,597 | |
IV. | Recovery of property charges | 0 | 0 | 84 |
V. | Recovery of rental charges and taxes normally paid by tenants on let properties | 4,244 | 3,810 | 2,469 |
VI. | Costs payable by the tenant and borne by the landlord on rental damage and repair at end of lease | 0 | 0 | 0 |
VII. | Rental charges and taxes normally paid by tenants on let properties | -4,128 | -3,810 | -2,469 |
VIII. | Other rental-related income and charges | -1,013 | 53 | -985 |
Property result | 230,535 | 256,214 | 90,696 | |
IX. | Technical costs | -1,432 | -680 | -1,379 |
X. | Commercial costs | -61 | -358 | -552 |
XI. | Charges and taxes on unlet properties | -2 | 0 | -136 |
XII. | Property management costs | -5,433 | -6,246 | -1,273 |
XIII. | Other property charges | -667 | -1,227 | -1,281 |
Property charges | -7,595 | -8,511 | -4,621 | |
Property operating result | 222,940 | 247,703 | 86,075 | |
XIV. | Overheads | -30,930 | -36,096 | -10,963 |
XV. | Other operating income and charges | 1,317 | 15 | 2,163 |
Operating result before result on portfolio | 193,327 | 211,622 | 77,275 | |
XVI. | Gains and losses on disposals of investment properties | 534 | -559 | 789 |
XVII. | Gains and losses on disposals of other non-financial assets | 0 | 0 | 0 |
XVIII. | Changes in fair value of investment properties° | 160,211 | 25,049 | 15,018 |
XIX. | Other result on portfolio | -3,540 | 0 | -344 |
Operating result | 350,532 | 236,112 | 92,738 | |
XX. | Financial income | 843 | 478 | 554 |
XXI. | Net interest charges | -27,548 | -33,688 | -14,321 |
XXII. | Other financial charges | -5,547 | -5,545 | -1,552 |
XXIII. | Changes in fair value of financial assets and liabilities | 14,813 | -2,169 | -2,157 |
Net finance costs | -17,349 | -40,924 | -17,476 | |
XXIV. | Share in the profit or loss of associates and joint ventures accounted for using the equity method | 6,371 | 4,575 | 0 |
Profit before tax (loss) | 339,554 | 199,763 | 75,262 | |
XXV. | Corporate tax | -56,473 | -26,401 | -6,066 |
XXVI. | Exit tax | -256 | 60 | 2,659 |
Tax expense | -56,729 | -26,341 | -3,407 | |
Profit (loss) | 282,825 | 173,422 | 71,855 | |
Attributable to: | ||||
Non-controlling interests | 1,001 | 354 | 0 | |
Owners of the parent | 281,824 | 173,068 | 71,855 | |
Basic earnings per share (€) | 8.10 | 6.53 | 3.99 | |
Diluted earnings per share (€) | 8.10 | 6.52 | 3.99 |
ASSETS | 31/12/2021 | 31/12/2020 | 30/06/2019 | 30/06/2018 | |
---|---|---|---|---|---|
(x 1.000 €) | |||||
I. | Non-current assets | ||||
A. | Goodwill | 161,726 | 161,726 | 0 | 1,856 |
B. | Intangible assets | 1,934 | 1,790 | 407 | 301 |
C. | Investment properties | 4,861,062 | 3,808,539 | 2,315,709 | 1,736,463 |
D. | Other tangible assets | 2,369 | 2,813 | 1,326 | 2,569 |
E. | Non-current financial assets | 7,479 | 1,162 | 307 | 1,888 |
F. | Finance lease receivables | 0 | 0 | 0 | 0 |
G. | Trade receivables and other non-current assets | 0 | 0 | 0 | 0 |
H. | Deferred tax assets | 3,116 | 2,902 | 0 | 0 |
I. | Equity-accounted investments | 40,522 | 36,998 | 33,931 | 0 |
Total non-current assets | 5,078,208 | 4,015,930 | 2,351,680 | 1,743,077 | |
II. | Current assets | ||||
A. | Assets classified as held for sale | 35,360 | 6,128 | 5,240 | 4,070 |
B. | Current financial assets | 0 | 0 | 0 | 0 |
C. | Finance lease receivables | 0 | 0 | 0 | 0 |
D. | Trade receivables | 20,434 | 12,698 | 11,216 | 7,518 |
E. | Tax receivables and other current assets | 7,368 | 5,177 | 1,257 | 446 |
F. | Cash and cash equivalents | 15,335 | 23,546 | 15,405 | 10,589 |
G. | Deferred charges and accrued income | 5,162 | 3,696 | 1,329 | 943 |
Total current assets | 83,659 | 51,245 | 34,447 | 23,566 | |
TOTAL ASSETS | 5,161,867 | 4,067,175 | 2,386,127 | 1,766,643 |
EQUITY AND LIABILITIES | 31/12/2021 | 31/12/2020 | 30/06/2019 | 30/06/2018 | |
---|---|---|---|---|---|
(x 1.000 €) | |||||
I. | Issued capital and reserves attributable to owners of the parent | ||||
A. | Capital | 917,101 | 836,401 | 624,713 | 465,126 |
B. | Share premium account | 1,301,002 | 1,054,109 | 565,068 | 297,569 |
C. | Reserves | 281,244 | 106,733 | 116,271 | 107,097 |
a. Legal reserve | 0 | 0 | 0 | 0 | |
b. Reserve for the balance of changes in fair value of investment properties | 349,234 | 288,647 | 171,274 | 153,582 | |
c. Reserve for estimated transaction costs resulting from hypothetical disposal of investment properties | -125,020 | -85,908 | -40,977 | -37,953 | |
d. Reserve for the balance of changes in fair value of authorised hedging instruments qualifying for hedge accounting as defined under IFRS | -12,784 | -23,233 | -24,960 | -16,436 | |
e. Reserve for the balance of changes in fair value of authorised hedging instruments not qualifying for hedge accounting as defined under IFRS | -26,872 | -25,901 | -18,991 | -17,659 | |
f. Reserve of exchange differences relating to foreign currency monetary items | 72 | 0 | -4,573 | 0 | |
g. Foreign currency translation reserves | 24,869 | -14,757 | -4,093 | 0 | |
h. Reserve for treasury shares | 0 | 0 | 0 | 0 | |
k. Reserve for deferred taxes on investment properties located abroad | -24,696 | -9,463 | -3,824 | -1,311 | |
m. Other reserves | 3,015 | -1,806 | 7,961 | -1,957 | |
n. Result brought forward from previous years | 87,532 | -25,241 | 41,619 | 28,830 | |
o. Reserve- share NI & OCI of equity method invest | 5,894 | 4,395 | 0 | 0 | |
D. | Profit (loss) of the year | 281,824 | 173,068 | 123,497 | 71,855 |
Equity attributable to owners of the parent | 2,781,171 | 2,170,311 | 1,429,652 | 941,647 | |
II. | Non-controlling interests | 4,226 | 2,625 | 103 | 0 |
TOTAL EQUITY | 2,785,397 | 2,172,936 | 1,429,755 | 941,647 | |
I. | Non-current liabilities | ||||
A. | Provisions | 0 | 0 | 0 | 0 |
B. | Non-current financial debts | 1,756,679 | 1,062,297 | 584,193 | 716,927 |
a. Borrowings | 959,522 | 985,412 | 569,226 | 716,927 | |
c. Other | 797,157 | 76,885 | 14,967 | 0 | |
C. | Other non-current financial liabilities | 96,154 | 108,060 | 52,774 | 37,599 |
a. Authorised hedges | 33,326 | 51,220 | 48,170 | 33,210 | |
b. Other | 62,828 | 56,840 | 4,604 | 4,389 | |
D. | Trade debts and other non-current debts | 500 | 0 | 0 | 0 |
E. | Other non-current liabilities | 0 | 0 | 0 | 0 |
F. | Deferred tax liabilities | 121,283 | 74,609 | 11,848 | 6,211 |
Non-current liabilities | 1,974,616 | 1,244,966 | 648,815 | 760,737 | |
II. | Current liabilities | ||||
A. | Provisions | 0 | 0 | 0 | 0 |
B. | Current financial debts | 324,398 | 604,402 | 272,317 | 22,830 |
a. Borrowings | 48,398 | 313,902 | 172,317 | 22,830 | |
c. Other | 276,000 | 290,500 | 100,000 | 0 | |
C. | Other current financial liabilities | 2,616 | 2,077 | 0 | 0 |
D. | Trade debts and other current debts | 50,109 | 32,067 | 27,044 | 37,303 |
a. Exit tax | 298 | 2,295 | 3,106 | 8,818 | |
b. Other | 49,811 | 29,772 | 23,938 | 28,485 | |
E. | Other current liabilities | 0 | 0 | 0 | 0 |
F. | Accrued charges and deferred income | 24,731 | 10,727 | 8,299 | 4,125 |
Total current liabilities | 401,854 | 649,273 | 307,660 | 64,258 | |
TOTAL LIABILITIES | 2,376,470 | 1,894,239 | 956,475 | 824,995 | |
TOTAL EQUITY AND LIABILITIES | 5,161,867 | 4,067,175 | 2,386,127 | 1,766,643 |
31/12/2021 (12M) | 31/12/2020 (18M) | 30/06/2019 (12M) | |
---|---|---|---|
EPRA Earnings (in €/share) | 4.35 | 6.14 | 3.74 |
EPRA NRV (in €/share) | 88.36 | 74.01 | 62.56 |
EPRA NTA (in €/share) | 76.05 | 62.92 | 59.42 |
EPRA NDV (in €/share) | 72.35 | 58.70 | 55.61 |
EPRA Net Initial Yield (NIY) (in %) | 4.9 % | 5.2 % | 5.5 % |
EPRA Topped-up NIY (in %) | 5.1 % | 5.3 % | 5.5 % |
EPRA Vacancy Rate (in %) | 0.5 % | 0.2 % | 0.0 % |
EPRA Cost Ratio (including direct vacancy costs) (in %) | 16.7 % | 18.5 % | 18.0 % |
EPRA Cost Ratio (excluding direct vacancy costs) (in %) | 16.7 % | 18.5 % | 17.9 % |
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.