154 / 236
Annual Accounts
Consolidated accounts
151
Consolidated global result (income statement)
151
Consolidated balance sheet
153
Consolidated statement of cash flows
154
Consolidated statement of changes in shareholders’ equity
155
Detail of the reserves
156
Notes to the consolidated accounts
158
Note1.
General information
158
Note2.
Significant accounting methods
158
Note3.
Management of operational risk
164
Note4.
Acquisitions of subsidiaries and joint ventures
165
Note5.
Segment information
166
Note6.
Rental income and rental-related expenses
168
Note7.
Net redecoration expenses
169
Note8.
Taxes and charges on rented properties not recovered from tenants
169
Note9.
Technical costs
169
Note10.
Commercial costs
169
Note11.
Management costs
170
Note12.
Result on disposals of investment properties and other non-financial assets
172
Note13.
Changes in fair value of investment properties
172
Note14.
Other result on the portfolio
172
Note15.
Financial income
173
Note16.
Net interest charges
173
Note17.
Other financial charges
173
Note18.
Changes in the fair value of financial assets and liabilities
174
Note19.
Corporate tax and exit tax
174
Note20.
Goodwill
174
Note21.
Investment property
176
Note22.
Breakdown of the changes in the fair value of investment properties
182
Note23.
Intangible assets and other tangible assets
182
Note24.
Financial instruments
183
Note25.
Finance lease receivables
190
Note26.
Assets held for sale
191
Note27.
Current trade receivables
191
Note28.
Tax receivables and other current assets
192
Note29.
Deferred charges and accrued income
192
Note30.
Share capital and share premiums
192
Note31.
Reserves
194
Note32.
Result per share
194
Note33.
Dividend per share
195
Note34.
Provisions
195
Note35.
Deferred taxes
195
Note36.
Trade debts and other current debts
196
Note37.
Accrued charges and deferred income
196
Note38.
Non-cash charges and income
196
Note39.
Changes in working capital requirements
197
Note40.
Evolution of the portfolio per segment during the financial year
197
Note41.
Contingent rights and liabilities
199
Note42.
Investment commitments
200
Note43.
Consolidation criteria and scope
200
Note44.
Payments based on shares
207
Note45.
Average number of people linked by an employment contract or by a permanent service contract
208
Note46.
Related-party transactions
208
Note47.
Events after the closing
208
Statutory auditor’s report
209
Company accounts
211
150
ANNUAL ACCOUNTS