158 / 220
152
/
Annual Accounts /
Notes to the Consolidated Accounts
(x €1,000)
2013
2012
Office charges
341
404
IT
116
144
Other
225
260
Fees paid to third parties
761
828
Recurrent
715
803
Lawyers
148
195
Auditors
322
428
Other
245
180
Non-recurrent
46
25
Public relations, communication and advertising
685
561
Personnel expenses
3,691
4,171
Salaries
3,007
3,543
Social security
371
456
Pensions and other benefits
313
172
Taxes and regulatory fees
1,409
1,399
TOTAL
6,887
7,363
(x €1,000)
2013
2012
Office charges
1,579
1,978
IT
813
991
Other
766
987
Fees paid to third parties
3,069
3,488
Recurrent
2,761
2,967
Real estate experts
965
971
Lawyers
75
392
Property management
263
586
Other
1,458
1,018
Non-recurrent
308
521
Mergers and acquisitions (other than business combinations)
308
521
Public relations, communication and advertising
619
573
Personnel expenses
11,183
10,911
Salaries
8,569
8,436
Social security
1,578
1,597
Pensions and other benefits
1,036
878
Fees earned
-2,733
-2,584
Management fees related to the lease contracts
-2,269
-2,345
Fees for additional services
-464
-239
Taxes and regulatory fees
401
498
Depreciation charges on office furniture
140
147
TOTAL
14,258
15,011
The fees of the real estate experts amounted to €1,003,505 for 2013, this figure including both recurrent and non-recurrent fees. These emoluments are
calculated partially based on a fixed amount per square metre and partially based on a fixed amount per property.
Corporate management costs
The corporate management costs cover the overhead costs of the company as a legal entity listed on the stock exchange and as a Sicaf immobilière/
Vastgoedbevak. These expenses are incurred in order to provide complete and continued information, economic comparability with other types of invest-
ment and liquidity for the shareholders who invest indirectly in a property portfolio. Certain costs of studies relating to the Group’s expansion also come
under this category.
NOTE 10.
MANAGEMENT COSTS
Management costs are split between property management costs and other costs.
Property management costs
These costs comprise the costs of the personnel responsible for this activity, the operational costs of the company headquarters and the fees paid to
third parties. The management fees collected from tenants partially covering the costs of the Property Management activity are deducted.
The portfolio is managed in-house, except for the MAAF insurance agencies portfolio. The internal costs of property management are divided as follows: