190 / 222
186
ANNUAL ACCOUNTS /
Notes to the consolidated accounts
NOTE 43. CONSOLIDATION CRITERIA AND SCOPE
Consolidation criteria
The consolidated financial statements group the financial state-
ments 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 liabili-
ties 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.
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 secu-
rities by the equity share of the entity. More details are provided in
Note 2, paragraph C.
NOTE 42. INVESTMENT COMMITMENTS
The Group has investment commitments of K€65,771 (31.12.2013: K€68,888) 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%
31.12.2014 31.12.2013
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 holds the freehold of the
building Omega Court, the residual rights of the
building Belliard I-II, charged with a long-lease
right (emphytéose/erfpacht), a long-lease right on
the buildings Egmont I and II, a long-lease right on
the building Maire 19 in Tournai, the temporary full
ownership of the building Noorderlaan 69, and a
long-lease right on the building Colonel/Kolonel Bourg
124. This subsidiary also holds a participation in the
company Leopold Square SA/NV.