Annual Report 2009
WDP
- Profit and loss account
- Balance sheet – Assets
- Balance sheet – Liabilities
- Cash flow statement
- Consolidated statement of changes of the equity capital
2009 Annual consolidated
financial statements
Profit and loss account
|
EUR (x 1.000) |
|
31-12-2009 |
31-12-2008 |
|
I. Rental Income |
54.895 |
46.810 |
|
|
Rents |
54.780 |
46.650 |
|
|
Indemnification for early termination of lease |
115 |
160 |
|
|
III. Costs associated with rentals |
-768 |
-165 |
|
|
Rent to be paid for leased premises |
-241 |
-152 |
|
|
Reductions in value on trade receivables |
-667 |
-91 |
|
|
Reversals and reductions in value on trade receivables |
140 |
78 |
|
|
NET RENTAL RESULT |
54.127 |
46.645 |
|
|
V. Recovery of rental charges normally paid by the tenant on let properties |
5.025 |
4.365 |
|
|
Re-invoicing of rental charges normally paid by the owner |
2.145 |
2.047 |
|
|
Re-invoicing of advance property levy and taxes on let property |
2.880 |
2.318 |
|
|
VII. Rental charges and taxes normally paid by the tenant on let properties |
-5.629 |
-4.909 |
|
|
Rental charges normally paid by the owner |
-2.335 |
-2.238 |
|
|
Advance property levy and taxes on let property |
-3.294 |
-2.671 |
|
|
VIII. Other income and charges related to leases |
4.250 |
779 |
|
|
Property management fees |
546 |
532 |
|
|
Income from solar energy |
3.704 |
247 |
|
|
PROPERTY RESULT |
57.773 |
46.880 |
|
|
IX. Technical costs |
-997 |
-910 |
|
|
Recurrent technical costs |
-955 |
-890 |
|
|
- Repairs |
-663 |
-681 |
|
|
- Insurance premiums |
-292 |
-209 |
|
|
Non-recurring technical costs |
-42 |
-20 |
|
|
- Major repairs (building contractors, architects, engineering firm, etc.) |
1 |
1 |
|
|
- Accidents |
-78 |
-565 |
|
|
- Claims paid by insurers |
35 |
544 |
|
|
X. Commercial costs |
-387 |
-318 |
|
|
Agency commissions |
-102 |
-44 |
|
|
Publicity |
-81 |
-90 |
|
|
Lawyers fees and legal charges |
-204 |
-184 |
|
|
XII. Property management costs |
301 |
34 |
|
|
Fees paid to external managers |
-104 |
-31 |
|
|
(Internal) property management costs |
405 |
65 |
|
|
XIII. Other property costs |
0 |
0 |
|
|
PROPERTY CHARGES |
-1.083 |
-1.194 |
|
|
PROPERTY OPERATING RESULTS |
56.690 |
45.686 |
|
|
XIV. General company expenses |
-3.325 |
-3.454 |
|
|
XV. Other operating income and charges |
0 |
0 |
|
|
OPERATING RESULTS FOR THE RESULT ON PORTFOLIO |
53.365 |
42.232 |
|
|
XVI. Result on disposals of investment property (note XIX) |
|
11 |
80 |
|
Net property sales (selling price – transaction costs) |
3.007 |
1.800 |
|
|
Book value of the property sold |
-2.996 |
-1.720 |
|
|
XVIII. Variations in the fair value of investment property (note XX) |
-26.791 |
-17.919 |
|
|
Positive variations in the fair value of investment property* |
7.985 |
19.306 |
|
|
Negative variations in the fair value of investment property |
-37.662 |
-33.670 |
|
|
Impairment of assets under construction (recognised and reversed) |
2.886 |
-3.555 |
|
|
OPERATING RESULT |
26.585 |
24.393 |
|
|
XIX. Financial income |
4.248 |
7.559 |
|
|
Interest and dividends received |
1.208 |
2.900 |
|
|
Remuneration of finance leases and related products |
23 |
20 |
|
|
Income from financial instruments used for hedging purposes |
2.948 |
2.186 |
|
|
Other financial income |
69 |
2.453 |
|
|
XX. Interest charges |
-19.102 |
-16.520 |
|
|
Nominal interest on loans |
-22.468 |
-19.636 |
|
|
Reconstituted nominal value of financial debts |
0 |
0 |
|
|
Interest capitalised during construction |
3.380 |
3.137 |
|
|
Other interest charges |
-14 |
-21 |
|
|
XXI. Other financial charges |
-14.155 |
-32.975 |
|
|
Bank charges and other commissions |
-41 |
-34 |
|
|
Costs of financial instruments used for hedging purposes (note VII) |
-13.871 |
-31.371 |
|
|
Other financial charges |
-243 |
-1.570 |
|
|
FINANCIAL RESULT (note XXI) |
-29.009 |
-41.936 |
|
|
PRE-TAX RESULT |
|
-2.424 |
-17.543 |
|
XXII. Corporate tax |
2.861 |
1.758 |
|
|
Corporate tax |
-221 |
-396 |
|
|
Deferred tax on variations in the fair value of investment property |
-568 |
-1.642 |
|
|
Positive deferred tax on on variations in the fair value of investment property |
5.337 |
3.843 |
|
|
Deferred tax on reversal of amortisation |
-664 |
-100 |
|
|
Reversals of deferred tax on IRS |
0 |
414 |
|
|
Deferred tax on major maintenance provisions |
-52 |
-49 |
|
|
Future tax benefits resulting from recoverable losses |
0 |
19 |
|
|
Deferred taxes arising from differences between the valuation rules for tax purposes and the IFRS valuation rules |
-971 |
-331 |
|
|
XXIII. Exit tax |
0 |
0 |
|
| |
|||
|
TAXES |
2.861 |
1.758 |
|
|
NET RESULT |
|
437 |
-15.785 |
|
* This relates only to positive variances of investment property. Revaluation surpluses for solar panels are taken directly to equity, under ‘Reserves – Revaluation reserve’ in accordance with IAS 16. |
|||
|
NET result |
437 |
-15.785 |
|
| |
|||
|
Attributable to: |
|||
|
- Shareholders of the parent company |
437 |
-15.785 |
|
|
- Minority interests |
0 |
0 |
|
| |
|||
|
NUMBER OF SHARES |
12.533.938 |
8.592.721 |
|
|
NET EARNINGS PER SHARE (EUR) |
-0,21 |
-1,84 |
|
|
Other components of comprehensive income
|
|||
|
EUR (x 1.000) |
31-12-2009 |
31-12-2008 |
|
|
NET PROFIT |
437 |
-15.785 |
|
|
Revaluation surplus on solar panels |
12.779 |
5.179 |
|
|
Currency exchange differences |
-574 |
-258 |
|
|
OTHER COMPONENTS OF COMPREHENSIVE INCOME |
12.205 |
4.921 |
|
|
|
|||
|
TOTAL COMPREHENSIVE INCOME FOR THE YEAR |
12.642 |
-10.864 |
|
|
Attributable to: |
|||
|
- Shareholders of the parent company |
12.642 |
-10.864 |
|
|
- Minority interests |
0 |
0 |
|