Key figures
Amounts in EUR x 1 million | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|
Fund returns (as a percentage of the INREV NAV as at 1 January) | |||||
Income return | 3.4% | 3.8% | 4.2% | 4.4% | 4.7% |
Capital gains | (1.9%) | (4.2%) | 6.6% | 3.6% | 2.7% |
Total return | 1.5% | (0.4%) | 10.8% | 8.0% | 7.4% |
Dividend yield (dividend from operations / INREV NAV as at 1 January) | 3.4% | 3.7% | 4.2% | 4.3% | 4.7% |
Dividend | 19.25 | 18.25 | 16.5 | 14.25 | 13.5 |
Dividend from divestments | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
Total dividend | 19.25 | 18.25 | 16.5 | 14.3 | 13.5 |
Total comprehensive income of the year | 8.6 | (1.9) | 42.3 | 26.3 | 21.3 |
Real estate returns (as a percentage of the average real estate portfolio value) | |||||
Direct return/Cash yield (1) | 5.3% | 5.1% | 5.3% | 5.3% | 5.6% |
Indirect return by selling (2) | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
Indirect return by value changes | 6.3% | (4.2%) | 6.9% | 3.2% | 2.9% |
Total return | 11.6% | 0.9% | 12.2% | 8.5% | 8.5% |
Cash yield (= 1 + 2) | 5.3% | 5.1% | 5.3% | 5.3% | 5.6% |
Gross initial yield | 5.9% | 6.0% | 5.4% | 5.6% | 5.9% |
Real estate results | |||||
Net rental income | 24.4 | 20.3 | 18.6 | 15.8 | 14.6 |
Other income | 0.0 | 0.0 | 0.6 | 1.0 | 1.0 |
Realised capital gains (2) | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
Unrealised capital gains | (10.8) | (20.2) | 25.7 | 11.9 | 7.8 |
Total income | 13.6 | 0.1 | 44.9 | 28.7 | 23.4 |
Amounts in EUR x 1 million | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|
Balance sheet | |||||
Investment property as at 31 December before revaluation | 483.9 | 422.8 | 358.7 | 315.4 | 266.7 |
Fair value adjustments investment property | 29.1 | (16.5) | 24.5 | 9.6 | 7.4 |
Investment property as at 31 December after revaluation | 512.9 | 406.2 | 383.2 | 325.0 | 274.1 |
Total assets (balance sheet total) | 646.5 | 565.7 | 467.1 | 382.2 | 327.3 |
Total Equity | 556.6 | 552.5 | 458.6 | 375.9 | 321.9 |
Key indicators/ratios | |||||
Equity capital divided by balance sheet total | 86.1% | 97.7% | 98.2% | 98.4% | 98.3% |
Occupancy rate (as a percentage of the theoretical rental income) | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% |
Cost percentage (as a percentage of the theoretical rental income) | 9.6% | 8.9% | 7.6% | 6.2% | 5.1% |
INREV NAV as at 1 January | 572.3 | 486.9 | 391.9 | 327.9 | 288.2 |
INREV NAV as at 31 December | 560.3 | 559.1 | 458.8 | 375.9 | 321.9 |
Total Expense Ratio (TGER) (INREV NAV) (management expenses / average INREV NAV) | 0.59% | 0.59% | 0.61% | 0.68% | 0.67% |
Total Expense Ratio (TGER) (INREV GAV) (management expenses / average INREV GAV) | 0.55% | 0.59% | 0.61% | 0.67% | 0.67% |
Total Real Estate Expense Ratio (REER) (INREV GAV) (operating costs / average INREV GAV) | 0.43% | 0.39% | 0.36% | 0.29% | 0.26% |
Letting portfolio (number of units) | 2,279 | 1,938 | 1,738 | 1,594 | 1,394 |
Letting portfolio (number of properties) | 109 | 95 | 85 | 79 | 69 |