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Consolidated accounts
1
The net current result – Group share corresponds to the net result excluding “Gains or losses on disposals of investment properties”, “Gains or losses on disposals of
other non-financial assets”, “Changes in the fair value of investment properties”, “Other result on the portfolio”, as well as “Exit tax” minus (-) “Share in result of associated
companies and joint ventures” related to the result on the portfolio and minus (-) “Minority interests” on these five elements.
2.
The result on the portfolio – Group share corresponds to the “Gains or losses on disposals of investment properties”, “Gains or losses on disposals of other non-financial
assets”, “Changes in the fair value of investment properties”, “Other result on the portfolio”, as well as “Exit tax” minus (-) “Share in result of associated companies and joint
ventures” related to the result on the portfolio and minus (-) “Minority interests” on these five elements.
Consolidated global result (income statement)
(x €1,000)
Notes
2014
2013
A. NET RESULT
Rental revenues
6
195,918
195,191
Writeback of lease payments sold and discounted
6
15,931
25,276
Rental-related expenses
6
-91
-6
Net rental income
5, 6
211,758
220,461
Recovery of property charges
7
612
101
Recovery income of charges and taxes normally payable by the tenant on let properties
8
44,756
48,826
Costs payable by the tenant and borne by the landlord on rental damage and
redecoration at end of lease
7
-1,540
-1,277
Rental charges and taxes normally payable by the tenant on let properties
8
-47,512
-51,202
Property result
208,074
216,909
Technical costs
9
-3,802
-5,114
Commercial costs
10
-1,137
-956
Taxes and charges on unlet properties
-3,922
-4,075
Property management costs
11
-14,295
-14,258
Property charges
-23,156
-24,403
Property operating result
184,918
192,506
Corporate management costs
11
-7,176
-6,887
Operating result before result on the portfolio
177,742
185,619
Gains or losses on disposals of investment properties
5, 12
1,949
147
Gains or losses on disposals of other non-financial assets
5, 12
-24,390
Changes in the fair value of investment properties
5, 13, 22
-5,455
-26,260
Other result on the portfolio
5, 14
-11,304
-22,683
Operating result
138,542
136,823
Financial income
15
5,577
5,723
Net interest charges
16
-54,700
-66,043
Other financial charges
17
-2,309
-929
Changes in the fair value of financial assets and liabilities
18
-136,143
-13,686
Financial result
-187,575
-74,935
Share in the result of associated companies and joint ventures
1,307
1,537
Pre-tax result
-47,726
63,425
Corporate tax
19
-2,493
-2,179
Exit tax
19
926
618
Taxes
-1,567
-1,561
Net result
-49,293
61,864
Minority interests
43
-3,378
-3,127
NET RESULT – GROUP SHARE
32
-52,671
58,737
NET CURRENT RESULT – GROUP SHARE
1
32
-15,655
104,924
RESULT ON THE PORTFOLIO – GROUP SHARE
2
32
-37,016
-46,187