Additional notes
Transactions with related parties
The following table provides the details of transactions that have been entered into with related parties for the relevant financial years. All transactions were effected at market rates.
Related party transactions
EUR x 1,000 | Amount of | Amounts due from | Amounts due to |
Fund management fee | |||
2025 | (2,959) | 374 | |
2024 | (2,293) | - | 130 |
Acquisitions of completed investment property | |||
2025 | 28,482 | - | - |
2024 | 13,476 | - | - |
The AL&C Fund management fee has been paid to the Fund Manager, Amvest REIM B.V.
All transactions with related parties were made on terms equivalent to those that prevail in arm’s length transactions.
Transactions with direct stakeholders
Neither the Investors of the AL&C Fund nor their Investors or regulators had any personal interest in investments by the AL&C Fund in 2025. As far as the AL&C Fund is aware, no property transactions took place during the year under review with persons and/or organisations that can be regarded as direct stakeholders of the AL&C Fund, other than as mentioned in the aforementioned paragraph ‘Transactions with related parties’.
Off-balance sheet commitments & pipeline
As at 31 December 2025, the AL&C Fund has commitments with respect to new investment property that originate from a signed SPA (Sale and Purchase Agreement). The total amount with respect to these commitments for 2025 onwards adds up to €68.9 million, which had not been charged by 31 December 2025 (and the work had not been performed).
Off-balance sheet rights
As at 31 December 2025, the AL&C Fund’s remaining commitments from Investors for 2026 onwards add up to €260 million.
Auditor’s fees
KPMG | KPMG | Total | |
EUR x 1,000 | 2025 | 2025 | 2025 |
Statutory audit of annual accounts | (149) | - | (149) |
Other assurance services | (59) | - | (59) |
Tax advisory services | - | - | - |
Other non-audit services | - | - | - |
(208) | - | (208) | |
KPMG | KPMG | Total | |
EUR x 1,000 | 2024 | 2024 | 2024 |
Statutory audit of annual accounts | (103) | - | (103) |
Other assurance services | (60) | - | (60) |
Tax advisory services | - | - | - |
Other non-audit services | - | - | - |
(163) | - | (163) |
With reference to Section 2:382a (1) and (2) of the Dutch Civil Code, the following fees for the financial year as well as the previous year have been charged by KPMG Accountants N.V. to the AL&C Fund.
Subsequent events
The shares of Amvest Vastgoed B.V. were held by AEGON Levensverzekering N.V. for 50 percent and Stichting Pensioenfonds Zorg en Welzijn for 50 percent until 31 December 2025. As of 1 January 2026 the sole shareholder of Amvest Vastgoed B.V. is Stichting Pensioenfonds Zorg en Welzijn
Amsterdam, the Netherlands, 20 April 2026
M. Van der Wekken, Fund Director
G.N. von der Thüsen, Director Finance and Risk
S. van de Koppel-Nagelmaeker, Portfolio Manager