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Financial statements

Consolidated statement of comprehensive income

All amounts in € thousands, unless otherwise stated

 

Note

2018

2017

Gross rental income

6

51,301

 

49,410

 

Service charge income

6

2,063

 

1,931

 

Other income

 

400

 

58

 

Revenues

  

53,764

 

51,399

      

Service charge expenses

 

(2,132)

 

(2,092)

 

Property operating expenses

7

(8,058)

 

(6,894)

 
   

(10,190)

 

(8,986)

Net rental income

  

43,574

 

42,413

      

Result on disposal of investment property

  

(156)

 

110

      

Positive fair value adjustment completed investment property

 

31,584

 

46,463

 

Negative fair value adjustment completed investment property

 

(16,708)

 

(21,332)

 

Net valuation gain (loss) on investment property

12

 

14,876

 

25,131

      

Net valuation gain (loss) on investment property under construction

13

 

2,012

 

(1,913)

      

Administrative expenses

8

 

(4,721)

 

(4,475)

Result before finance result

  

55,585

 

61,266

      

Finance result

9

(1,072)

 

(140)

 

Net finance result

  

(1,072)

 

(140)

      

Result before tax

  

54,513

 

61,126

Income taxes

10

 

(5,838)

 

(67)

Result for the year

  

48,675

 

61,059

      

Items that will not be reclassified subsequently to comprehensive income

  

-

 

-

Items that may be reclassified subsequently to comprehensive income

  

-

 

-

Total comprehensive income for the year, net of tax

  

48,675

 

61,059

      

Net result attributable to shareholders

  

48,675

 

61,059

Total comprehensive income attributable to shareholders

  

48,675

 

61,059

      
      

Distributable result

19

 

38,926

 

37,731

Pay-out ratio

19

 

100%

 

100%

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