188 / 220
182
/
Annual Accounts /
Notes to the Consolidated Accounts
NOTE 42.
CONSOLIDATION CRITERIA AND SCOPE
Consolidation criteria
The consolidated financial statements group the financial statements of
the parent company and those of the subsidiaries and joint ventures, as
drawn up at the closing date.
Consolidation is achieved by applying the following consolidation methods.
Full consolidation for the subsidiaries
Full consolidation consists of incorporating all the assets and liabilities of
the subsidiaries, as well as income and charges.
Minority interests are shown in a separate item of both the balance sheet
and the income statement.
The full consolidation method is applied where the parent company has
exclusive control provided that the holding is of a lasting character.
The consolidated financial statements have been prepared at the same
date as that on which the consolidated subsidiaries prepared their own
financial statements.
Consolidation under the equity method for the joint ventures
The equity method consists of replacing the book value of the securities
by the equity share of the entity. More details are provided in Note 2, par-
agraph C.
NOTE 41.
INVESTMENT COMMITMENTS
The Group has investment commitments of k€68,888 (31.12.2012: k€166,012) in respect of investment expenditures contracted at the closing date but not
yet incurred for the construction of new properties and extensions. Renovation works are not included in this figure.
Consolidation perimeter
Subsidiaries held at 100% by the Group
Name and address of registered
offices
Fully consolidated subsidiaries
VAT or national
number (NN)
Direct and indirect
interests
and voting rights
(in %)
Main activity of the Group subsidiaries held at 100%
31.12.2013 31.12.2012
BELLIARD 1 & 2 PROPERTIES SA/NV
Boulevard de la Woluwe/
Woluwedal 58, 1200 Brussels
BE 832 136 571
100.00
100.00 Belliard 1 & 2 Properties SA/NV holds the residual rights of
the property Belliard I-II, charged with a long-lease right
(emphytéose/erfpacht).
BELLIARD III-IV PROPERTIES SA/NV
Boulevard de la Woluwe/
Woluwedal 58, 1200 Brussels
BE 475 162 121
100.00
100.00 Belliard III-IV Properties SA/NV holds the residual rights of
the property Belliard III-IV, charged with a long-lease right
(emphytéose/erfpacht).
BOLIVAR PROPERTIES SA/NV
Boulevard de la Woluwe/
Woluwedal 58, 1200 Brussels
BE 878 423 981
100.00
100.00 Bolivar Properties SA/NV owns the freehold of the building Omega
Court.