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Sla artikel navigatie over.Real estate sensitivity analysis
A. Real Estate Sensitivity Analysis by movement in gross current yield
Movement in gross current yield | |||||
2025 (EUR x 1,000) | -25 bps | -12,5 bps | 0 bps | +12,5 bps | +25 bps |
As at 31 December 2025 | |||||
Market value property* | 4,763,852 | 4,630,638 | 4,504,672 | 4,385,378 | 4,272,239 |
Gross current yield based on theoretical rent** | 4.3% | 4.5% | 4.6% | 4.7% | 4.8% |
Revaluation of investment property in EUR* | 259,180 | 125,966 | - | (119,294) | (232,433) |
Revaluation of investment property in %* | 5.8% | 2.8% | 0.0% | (2.6%) | (5.2%) |
Effect on total return | 7.3% | 3.6% | 0.0% | (3.4%) | (6.6%) |
Loan-to-value*** | 19.9% | 20.6% | 21.4% | 22.2% | 22.9% |
Movement in gross current yield | |||||
2024 (EUR x 1,000) | -25 bps | -12,5 bps | 0 bps | +12,5 bps | +25 bps |
As at 31 December 2024 | |||||
Market value property* | 4,364,801 | 4,245,233 | 4,132,042 | 4,024,730 | 3,922,850 |
Gross current yield based on theoretical rent** | 4.4% | 4.6% | 4.7% | 4.8% | 4.9% |
Revaluation of investment property in EUR* | 232,759 | 113,191 | - | (107,312) | (209,191) |
Revaluation of investment property in %* | 5.6% | 2.7% | 0.0% | (2.6%) | (5.1%) |
Effect on total return | 7.0% | 3.4% | 0.0% | (3.2%) | (6.3%) |
Loan-to-value*** | 21.0% | 22.1% | 23.2% | 24.4% | 25.7% |
B. Sensitivity to a 1% parallel shift in interest rates
EUR x 1,000 | +1% | -1% |
2025 | ||
Interest expenses on financial liabilities | 0 | 0 |
Total impact on net result | 0 | 0 |
EUR x 1,000 | +1% | -1% |
2024 | ||
Interest expenses on financial liabilities | (500) | 500 |
Total impact on net result | (500) | 500 |
Sensitivity to a 1% parallel shift in interest rates is only applicable for facilities with a floating interest rate.
C. Undiscounted amount by contractual maturity of financial instruments
EUR X 1,000 | < 1 year | 1-5 years | > 5 years |
As at 31 December 2025 | |||
Cash and cash equivalents | 76,622 | - | - |
Trade and other receivables | 13,717 | - | - |
(Un)Secured debt securities | - | (735,000) | (300,000) |
Trade and other payables | (74,809) | - | - |
EUR X 1,000 | < 1 year | 1-5 years | > 5 years |
As at 31 December 2024 | |||
Cash and cash equivalents | 105,772 | - | - |
Trade and other receivables | 12,400 | - | - |
(Un)Secured debt securities | (500,000) | (435,000) | |
Trade and other payables | (196,821) | - | - |