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Annual Accounts /
Company Accounts
Non-distributable equity according to Article617 of the Company Code
(x€1,000)
2013
2012
Net assets
1,614,937
1,514,701
Dividend distribution and profit-sharing plan
-106,164
-111,208
NET ASSETS AFTER DISTRIBUTION
1,508,773
1,403,493
Paid-up capital or, if greater, subscribed capital
945,447
917,079
Share premiums unavailable for distribution according to the Articles of Association
451,673
436,170
Reserve for the positive balance of changes in the fair value of investment properties
Reserve for the estimated transaction costs and transfer duties resulting
from the hypothetical disposal of investment properties
-60,632
-59,987
Reserve for the balance of changes in the fair value
of authorised hedging instruments qualifying for hedge account
-84,168
-146,032
Reserve for the balance of changes in the fair value
of authorised hedging instruments not qualifying for hedge accounting
3,743
-14,900
Reserve for own shares
Other reserves declared non-distributable by the General Meeting
3,279
2,941
Legal reserve
NON-DISTRIBUTABLE EQUITY ACCORDING TO ARTICLE 617 OF THE COMPANY CODE
1,259,342
1,135,269
Remaining margin after distribution
249,431
268,225
Dividend distribution obligation according to the Royal Decree of 07.12.2010 concerning Sicafis/Bevaks
(x€1,000)
2013
2012
Net result
57,180
96,035
Depreciation (+)
374
381
Writedowns (+)
-61
-3
Writeback of writedowns (-)
-1
-14
Writeback of lease payments sold and discounted (-)
-25,276
-22,994
Other non-cash elements (+/-)
2,423
18,769
Result on disposal of property assets (+/-)
8,143
-1,831
Changes in the fair value of investment properties (+/-)
7,663
-25,794
Corrected result (A)
50,445
64,549
Realised gains and losses
1
on property assets during the financial year (+/-)
-40,385
6,718
Realised gains
1
on property assets during the financial year,
exonerated from the distribution obligation if reinvested within four years (-)
-6,594
-10,928
Realised gains on property assets previously exonerated from the distribution obligation
and not reinvested within four years (+)
Net gains on disposal of property assets not exonerated from the distribution obligation (B)
-46,979
-4,210
TOTAL (A+B) X 80%
2,773
48,271
Debt decrease (-)
-62,101
DIVIDEND DISTRIBUTION OBLIGATION
48,271
1
In relation to the acquisition value, increased by the capitalised renovation costs.