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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 when the parent company
holds 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 capital commitments of 69,600 K EUR (31.12.2014: 65,771 K EUR) in respect of capital expenditures contracted for at the balance
sheet date but not yet incurred, for new property and extensions construction. Renovation works are not included in this figure.
Consolidation scope
Subsidiaries held at 100% by the Group
Name and addresses of the
registered office
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%
31.12.2015 31.12.2014
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/NA holds:
- the residual rights to the property Belliard I-II, charged with a
long-lease right (emphytéose/erfpacht);
- a long-lease right (emphythéose/erfpacht) on the Egmont I
and II buildings;
- a long-lease right on the Maire 19 building in Tournai;
- temporary full ownership of the Noorderlaan 69 building;
- a long-lease right on the Colonel Bourg 124 building.
Bolivar Properties SA/NV also holds an interest in Leopold
Square SA/NV.
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ANNUAL ACCOUNTS /
Notes to the consolidated accounts