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"Tag738": {
"value": "\n
\n
\nNote 1: General information
\nAedifica NV/SA (referred to in the financial statements as \u2018the Company\u2019 or \u2018the Parent\u2019) is a limited liability
\ncompany having opted for public Regulated Real Estate Company (RREC) status under Belgian law. The
\nCompany is entered in the Brussels Registry of Legal Entities (R.L.E., or \u2018R.P.M.\u2019 in French / \u2018R.P.R.\u2019 in Dutch)
\nunder No. 0877.248.501. Its primary shareholders are listed in Note 30 of this annual financial report. The
\naddress of its office is the following: Rue Belliard 40, B-1040 Brussels (telephone: +32 (0)2 626 07 70).
\n\nThe Aedifica group (referred to in the financial statements as \u2018the Group\u2019) is composed of the parent-company
\nand its subsidiaries. The subsidiaries of the Aedifica group are listed in Note 40.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\nAedifica is listed on Euronext Brussels (2006) and Euronext Amsterdam (2019). Since 2020, the Company has
\nbeen part of the BEL 20, Euronext Brussels\u2019 leading share index. Moreover, since 2023, Aedifica has been
\npart of the BEL ESG, the index tracking companies that perform best on ESG criteria.
\n\nPublication of the Consolidated Financial Statements was approved by the Board of Directors on 20 February
\n2024. Aedifica\u2019s shareholders have the opportunity to amend the Consolidated Financial Statements after
\npublication at the Annual General Meeting, which will take place on 14 May 2024.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfGeneralInformationAboutFinancialStatementsExplanatory",
"language": "en",
"entity": "scheme:529900DTKNXL0AXQFN28",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag739": {
"value": "Aedifica NV/SA",
"dimensions": {
"concept": "ifrs-full:NameOfReportingEntityOrOtherMeansOfIdentification",
"language": "en",
"entity": "scheme:529900DTKNXL0AXQFN28",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag740": {
"value": "limited liability company ",
"dimensions": {
"concept": "ifrs-full:LegalFormOfEntity",
"language": "en",
"entity": "scheme:529900DTKNXL0AXQFN28",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag742": {
"value": "Rue Belliard 40, B-1040 Brussels (telephone: +32 (0)2 626 07 70).",
"dimensions": {
"concept": "ifrs-full:AddressOfRegisteredOfficeOfEntity",
"language": "en",
"entity": "scheme:529900DTKNXL0AXQFN28",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag741": {
"value": "\nThe Aedifica group (referred to in the financial statements as \u2018the Group\u2019) is composed of the parent-company
\nand its subsidiaries. The subsidiaries of the Aedifica group are listed in Note 40.
\n
\n\n\n\n\n\n\n\n\n\n\n\nAedifica is listed on Euronext Brussels (2006) and Euronext Amsterdam (2019).",
"dimensions": {
"concept": "ifrs-full:ExplanationOfChangeInNameOfReportingEntityOrOtherMeansOfIdentificationFromEndOfPrecedingReportingPeriod",
"language": "en",
"entity": "scheme:529900DTKNXL0AXQFN28",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag743": {
"value": "\nPublication of the Consolidated Financial Statements was approved by the Board of Directors on 20 February
\n2024. Aedifica\u2019s shareholders have the opportunity to amend the Consolidated Financial Statements after
\npublication at the Annual General Meeting, which will take place on 14 May 2024.
\n
\n\n\n\n\n\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfAuthorisationOfFinancialStatementsExplanatory",
"language": "en",
"entity": "scheme:529900DTKNXL0AXQFN28",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag744": {
"value": "\n
\n
\nNote 2: Accounting policies
\n\n
\n
\n
\n
\nNote 2.1: Basis of preparation
\n\nThe Consolidated Financial Statements cover the 12-month period from 1 January 2023 to 31 December
\n2023. They have been prepared in accordance with the International Financial Reporting Standards (\u2018IFRS\u2019)
\nas adopted by the European Union and the interpretations as published by the International Accounting
\nStandards Board (\u2018IASB\u2019) and the International Financial Reporting Interpretations Committee (\u2018IFRIC\u2019), to the
\nextent to which they are applicable to the Group's activities and are effective for the financial years starting
\non or after 31 December 2022. The Consolidated Financial Statements have also been prepared in
\naccordance with the Royal Decree of 13 July 2014 on Regulated Real Estate Companies. The Consolidated
\nFinancial Statements are prepared in euros and presented in thousands of euros.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nThe Consolidated Financial Statements have been prepared with application of the historical cost convention,
\nexcept for the following assets and liabilities, which are measured at fair value: investment properties,
\ninvestment properties held for sale, financial assets and liabilities held for hedging purposes or not (mainly
\nderivatives), put options granted to non-controlling shareholders and equity-accounted investments.
\n\n
\n
\n\nThe Consolidated Financial Statements have been prepared in accordance with accrual accounting principles
\non a going concern basis.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\nThe preparation of the Consolidated Financial Statements in conformity with IFRS requires significant
\njudgment in the application of accounting policies (including the classification of lease contracts, identification
\nof business combinations, and calculation of deferred taxes) and the use of certain accounting estimates
\n(such as goodwill impairment tests and determination of fair value of investment properties). Underlying
\nassumptions are based on prior experience, input from third parties (notably real estate experts), and on other
\nrelevant factors. Actual results may vary on the basis of these estimations. Consequently, the assumptions
\nand estimates are regularly revisited and modified as necessary.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nThe new and amended standards and interpretations listed below are compulsory for the Group since
\n1 January 2023, but had no significant impact on the current Consolidated Financial Statements:
\n\u2022 amendments to IFRS 17 \u2018Insurance Contracts\u2019 (applicable as from 1 January 2023);
\n\u2022 amendments to IAS 1 \u2018Presentation of Financial Statements and IFRS Practice Statement 2:
\nDisclosure of Accounting policies\u2019 (applicable as from 1 January 2023);
\n\u2022 amendments to IAS 8 \u2018Accounting policies, Changes in Accounting Estimates and Errors: Definition
\nof Accounting Estimates\u2019 (applicable as from 1 January 2023);
\n\u2022 amendments to IAS 12 \u2018Income Taxes: Deferred Tax related to Assets and Liabilities arising from a
\nSingle Transaction\u2019 (applicable as from 1 January 2023);
\n\u2022 amendments to IFRS 17 \u2018Insurance contracts: Initial Application of IFRS 17 and IFRS 9 \u2013 Comparative
\nInformation\u2019 (applicable as from 1 January 2023);
\n\u2022 amendments to IAS 12 Income taxes \u2018International Tax Reform \u2013 Pillar Two Model Rules\u2019 (applicable
\nas from 1 January 2023).
\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\nCertain new standards, amendments and interpretations of existing standards have been published and will
\nbe compulsory for financial years starting on or after 1 January 2024. These amendments, which the Group
\ndid not apply early, are as follows (situation as at 12 January 2024):
\n\u2022 new standard for IFRS 14 \u2018Regulatory Deferral Accounts\u2019 (for which no application date can be
\ndetermined because the EU has decided not to start the approval process of this provisional standard,
\npending the publication of a final standard);
\n\u2022 amendment to IAS 1 \u2018Presentation of Financial Statements: Classification of Liabilities as Current or
\nNon-current\u2019 (applicable as from 1 January 2024);
\n\u2022 amendments to IFRS 16 \u2018Lease Liability in a Sale and Leaseback\u2019 (applicable as from 1 January 2024);
\n\u2022 amendments to IAS 7 Statement of Cash Flows and IFRS 7 Financial Instruments \u2018Disclosures:
\nSupplier Finance Arrangement\u2019 (applicable as from 1 January 2024, subject to EU approval);
\n\u2022 amendments to IAS 21 The Effects of Changes in Foreign Exchange Rates \u2018Lack of Exchangeability\u2019
\n(applicable as from 1 January 2025, subject to EU approval).
\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nNote 2.2: Summary of material accounting policy information
\nThe main significant accounting policies applied during the preparation of the Consolidated Financial
\nStatements are presented below. These methods were applied consistently to all previous financial years.
\nThe numbering of the paragraphs below refers to the lines presented on the balance sheet and income
\nstatement.
\n\n
\n\nConsolidation principles \u2013 Subsidiaries
\nAll entities for which Aedifica (directly or indirectly) holds more than half of the voting rights or has the power
\nto control operations are considered subsidiaries and included in the scope of comprehensive consolidation.
\nThe comprehensive consolidation consists of incorporating all assets and liabilities of subsidiaries, as well as
\nincome and expenses. Minority interests are included in a separate line of the balance sheet and the income
\nstatement. In accordance with IFRS 10, subsidiaries are fully consolidated as from the date on which control
\nis transferred to the Group; they are de-consolidated as from the date that control ceases. All intercompany
\ntransactions, balances, and unrealised gains and losses on transactions between the Group\u2019s companies are
\neliminated.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n
\n
\n
\n\n
\n\nConsolidation principles \u2013 Associates and joint ventures
\nAn associate is an entity over which the Group has significant influence and which is neither a subsidiary, nor
\nan interest in a joint arrangement. Significant influence is the power to participate in the financial and operating
\npolicy decisions of the investee, but does not imply control or joint control over those policies.
\nA joint venture is a joint arrangement in which the parties that have joint control of the arrangement have
\nrights to the net assets of the arrangement. Joint control is the contractually agreed sharing of control of an
\narrangement, which exists only when decisions on relevant activities require the unanimous consent of the
\nparties sharing control.
\nUnder the equity method, the investment in an associate or joint venture is initially recognised at cost, and
\nthe carrying amount is increased or decreased to recognise the investor\u2019s share of the profit or loss of the
\ninvestee after the date of acquisition. The investor\u2019s share of the investee\u2019s profit or loss is recognised in the
\ninvestor\u2019s profit or loss.
\nConsolidation principles \u2013 Partnership
\nAll agreements whereby the parties that have joint control of an arrangement which give rights to the assets
\nand obligations for the liabilities relating to the arrangement and that, following the framework of IFRS 11, are
\ndetermined as joint operations, are consolidated following a proportional consolidation (Aedifica has only one
\nsuch partnership, namely AKJV in the Netherlands).
\n
\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\nForeign currency
\nAedifica primarily operates in the euro zone. Euro is the functional currency of the Group and the Consolidated
\nFinancial Statements. The functional currency of the UK subsidiaries is the pound sterling and that of the
\nSwedish subsidiaries is the Swedish krona. Foreign currency transactions are translated to the respective
\nfunctional currency of the Group entities at the exchange rate prevailing at the date of the transaction. Foreign
\nexchange gains and losses resulting from settling these, or from retranslating monetary assets and liabilities
\nheld in foreign currencies, are booked in the Income Statement. Exceptions to this rule are foreign currency
\nloans hedging investments in foreign subsidiaries and intra-group loans meeting the definition of a net
\ninvestment in a foreign operation. In such cases, exchange differences are booked in a separate component
\nof shareholders\u2019 equity until the disposal of the investment.
\n
\n\n\n\n\n\n\n\n\n\n\n\nConsolidation of foreign entities
\nAssets and liabilities of the foreign entities are translated into euro at exchange rates ruling at the balance
\nsheet date. The income statement is translated at the average rate for the period or at spot rate for significant
\nitems. Resulting exchange differences are booked in other comprehensive income and recognised in the
\nGroup income statement when the operation is sold.
\nThe principal exchange rates used to translate foreign currency denominated amounts in book year 2023 are:
\n\u2022 balance sheet: \u20ac1 = \u00a30.86632
\n\u2022 income statement: \u20ac1 = \u00a30.86969
\n\u2022 balance sheet: \u20ac1 = SEK 11.14057
\n\u2022 income statement: \u20ac1 = SEK 11.47425
\n
\n\n\n\n\n\n\n\n\n\n\n
\n
\n\n
\n
\n\n
\n\nI.A. Goodwill
\nBusiness combinations are recognised using the purchase method in accordance with IFRS 3. The excess of
\nthe acquisition cost over the fair value of the Group\u2019s share of the net identifiable assets of the acquired
\nbusiness at the date of acquisition is recognised as goodwill (an asset). In the event that this value is negative,
\nit is recognised immediately in profit. Goodwill is tested annually for impairment and carried at cost less
\naccumulated impairment losses.
\n
\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\nI.B. Intangible Assets
\nIntangible assets are capitalised as assets at their acquisition cost and are amortised using the straight-line
\nmethod at annual rates between 14.29% (7 years) and 33% (3 years).
\n
\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\nI.C. Investment Properties
\n1. Initial recognition
\n1.1 Acquisition value
\nIf the acquisition of a building takes place by cash payment, through the acquisition of shares of a real estate
\ncompany, through the non-monetary contribution of a building against the issuance of new shares, by merger
\nthrough takeover of a property, or by a partial de-merger, the deed costs, audit and consultancy costs,
\nreinvestment bank fees, costs of lifting security on the financing of the absorbed company, and other costs
\nrelating to the merger are also considered part of the acquisition cost and capitalised in the asset accounts
\non the balance sheet.
\n1.2 Investment value
\n\u2018Investment value\u2019 is defined as the value assessed by a valuation expert, from which transfer costs have not
\nbeen deducted (also known as \u2018gross capital value\u2019).
\n1.3 Fair value
\nProperties in the Group\u2019s portfolio or which enter into its portfolio, either with payment in cash or in kind, are
\nvalued by independent experts at their fair value.
\nThe fair value of investment properties located in Belgium is calculated as follows:
\n\u2022 buildings with an investment value greater than \u20ac2.5 million: Fair value = investment value / (1+ the
\naverage transaction cost defined by the BE-REIT Association);
\n\u2022 buildings with an investment value less than \u20ac2.5 million:
\n- 1) where the expert considers that the building can be divided and sold in separate units (notably
\nindividual apartments), the fair value is defined as the lower of the separated investment value /
\n(1 + % transfer tax levied in the region where the building is located) and the investment value /
\n(1+ the average transaction cost defined by the BE-REIT Association);
\n- 2) where the expert considers that the building cannot be divided and sold in separate units, the
\nfair value is the investment value / (1 + % transfer tax levied in the region where the building is
\nlocated).
\nThe average transaction cost defined by the BE-REIT Association is revised annually and adjusted as
\nnecessary in increments of 0.5%.
\nExperts attest to the percentage deducted and retained in regular reports to shareholders; it currently
\namounts to 2.5%.
\n
\n
\n\n\n\n\n\n\n\n\n\n\n
\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n
\n\nThe fair value of investment properties located abroad take into account locally applicable legal costs.
\nTransfer taxes on acquisitions and any change in the fair value of properties during the financial year are
\ndirectly recognised in the income statement.
\n1.4 Treatment of differences at the time of acquisition
\nIf, for acquisitions such as those defined in section I.C.1.1 (\u2018Acquisition value\u2019) above, the fair value determined
\nby the independent expert is different than the acquisition value defined in section I.C.1.1, the difference is
\nbooked in the income statement under line \u2018XVIII. Changes in fair value of investment properties\u2019.
\n2. Accounting for works projects (subsequent expenditures)
\nCosts incurred by Aedifica for works carried out on investment properties are accounted for using one of two
\ndistinct methods, depending on the nature of the costs. The cost of repairs and maintenance, which neither
\nadd new functionality nor constitute a significant enhancement or upgrade to the building, are recognised as
\nincurred expenses and are thus deducted from the year\u2019s profit. Subsequent expenditures related to two
\ntypes of works projects are capitalised as assets on the Company\u2019s balance sheet:
\n\u2022 a) major renovations and extensions: these usually take place every 25 to 35 years and represent an
\nalmost complete renovation of the building, often reusing parts of the original building and applying
\nthe most up-to-date building techniques. Upon completion of these major renovation projects, the
\nbuildings are considered as new and are presented as such in the real estate portfolio.
\n\u2022 b) upgrades: these consist of occasional works that add new functionality, increase capacity, or
\nsignificantly enhance or upgrade the building, making it possible to raise rents, and thus increase the
\nbuilding\u2019s estimated rental income.
\nThe costs relating to these works are also capitalised in the balance sheet for the reason and to the extent
\nthat the experts usually recognise a corresponding increase in the value of the building. Costs that may be
\ncapitalised include: materials, contractor fees, technical studies, and staff fees or costs. Any excess of these
\ncosts over fair value is recognised as an expense in the income statement.
\nBorrowing costs are capitalised for all qualifying projects with a duration of more than one year.
\n3. Recurring remeasurement and remeasurement in the event of share transactions
\n3.1 Depreciation
\nIn accordance with IAS 40, Aedifica applies the fair value model and does not recognise depreciation on its
\nproperties, the rights in rem on properties, or on properties rented to the Company under finance leases.
\n3.2 Share transactions
\nReal estate properties held by Aedifica and by the subsidiaries under its control are valued by experts each
\ntime the Company proceeds to issue new shares, list shares on the stock exchange, or repurchase shares
\nother than through the stock exchange. While Aedifica is not bound by this valuation, any issue or repurchase
\nprice set below this level must be justified (in the form of a special report).
\nA new valuation is not required when a share issuance falls within four months of the last valuation of the
\nproperty concerned, so long as the experts confirm that neither the economic situation nor the physical state
\nof the property make a new valuation necessary.
\n3.3 Quarterly revaluations
\nEach quarter, valuation experts perform a calculation of fair value based on the conditions of the properties
\nand on fluctuations observed in the real estate market. This valuation is carried out on a building-by-building
\nbasis and covers Aedifica\u2019s entire real estate portfolio, including properties held by its subsidiaries.
\nThese valuations are binding for Aedifica and must be reflected in the accounts. Thus, the carrying amount
\nof the properties in the accounts corresponds to the fair value at which they are assessed by Aedifica\u2019s
\nindependent valuation experts.
\n3.4 Accounting for changes in fair value
\nChanges in the fair value of real estate properties, as determined by independent experts, arise each time the
\nvalue is assessed. They are accounted for in the income statement.
\n4. Asset disposals
\nUpon disposal of an investment property, the gain or loss on disposal is recognised in the income statement,
\nin line \u2018XVI. Gains and losses on disposals of investment properties\u2019.
\n5. Owner-occupied investment property
\nAny investment property occupied by Aedifica is transferred to the line \u2018other tangible assets\u2019 of the balance
\nsheet. Its fair value at the time of the transfer becomes its deemed acquisition cost. If the Company only
\noccupies a small part of the building, the whole building is recognised as \u2018investment property\u2019 in the balance
\nsheet and continues to be carried at fair value.
\n6. Development projects
\nBuildings under construction, renovation, or extension, which are considered development projects are
\nrecognised on the balance sheet at historical cost, including transfer taxes, non-recoverable VAT and indirect
\nexpenses (capitalised interest, insurance, legal fees, architectural fees, consulting fees, etc.). If the historical
\ncost deviates from the fair value appraised by the independent expert, the deviation is recognised in the
\nincome statement in order to bring the carrying amount in line with the fair value. Costs incurred in the
\npreliminary phase of development projects are recognised at their historical value.
\n7. Rights of use on plots of land
\nRights of use recognised in the balance sheet for concession or leasehold purposes or similar leases (as a
\nresult of IFRS 16 coming into force) are also considered as investment properties.
\n8. Land reserve
\nIn 2023, Aedifica created a new \u2018land reserve\u2019 category that includes all plots of land without committed
\nprojects.
\n
\n
\n
\n\n\n\n\n
\n
\n
\n\n\n\n\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n\n
\n\nI.D. Other tangible assets
\nTangible assets with definite useful lives, which fall outside the scope of investment property, are initially
\nrecognised at their acquisition cost. The components approach is not applied (based on materiality criteria).
\nDepreciation is charged on a linear basis using the pro rata temporis method. As residual values are
\nconsidered marginal, accumulated depreciation is expected to cover the total acquisition cost of each item
\nincluded in other tangible assets.
\nThe following depreciation rates are applied:
\n\u2022 plant, machinery and equipment: 20%;
\n\u2022 other furniture: 20%;
\n\u2022 vehicles: 20% to 25%;
\n\u2022 IT: 20% to 33%.
\nAs required by IFRS 16, this balance sheet line also includes the value of the right of use of company cars
\nand buildings used by the Group as offices. This value is depreciated on a straight-line basis over the term of
\nthe contracts.
\n
\n\n\n\n\n
\n\n\n\n\n\n
\nI.E. Non-current financial assets
\n
\n
\n
\n\n
\n\n
\n\n
\n1. Hedging instruments
\nWhen a derivative provides cash flow hedges to cover a specific risk arising from a financial asset or a firm
\ncommitment or a highly probable transaction liability and meets the criteria for hedge accounting under
\nIFRS 9, the effective portion of the income or expense is recognised directly in equity (line \u2018I.C.d. Reserve for
\nthe balance of changes in fair value of authorised hedging instruments qualifying for hedge accounting as
\ndefined under IFRS\u2019). The ineffective portion is recognised in the income statement.
\nWhen a derivative does not meet the criteria for hedge accounting under IFRS 9, it is recognised on the
\nbalance sheet at its fair value, and changes in fair value are recognised in the income statement as they occur.
\n2. Other financial and non-current assets
\nFinancial assets classified as held for sale are valued at fair value (market value if available, otherwise
\nacquisition value). Changes in fair value are recognised in the income statement. Receivables are valued at
\namortised cost.
\n
\n\n\n\n
\n\n\n\n
\n\n\n\n
\n\n\n\n\nI.H. Deferred tax assets
\nWhen a building is acquired outside of Belgium, the Deferred Tax Assets mainly relate to unrealised losses
\non the difference between the fair value and the tax value of the buildings, whereby we expect that the
\neffective tax loss (in case of a sale) can be offset with the taxable income of the entity concerned in the
\nforeseeable future.
\n
\n\n\n\n\n\n
\n\n
\n\nI.I. Participations in associates and joint ventures
\nParticipations in associates and joint ventures are the Group\u2019s participating interests in companies over which
\nthe Group has no or only joint control. Under the equity method, the investment in an associate or joint venture
\nis initially recognised at cost, and the carrying amount is increased or decreased to recognise the investor\u2019s
\nshare of the profit or loss of the investee after the date of acquisition. The investor\u2019s share of the investee\u2019s
\nprofit or loss is recognised in the investor\u2019s profit or loss.
\nThey relate to Immobe NV/SA, MMCG 2 DEVCO 2 Limited, MMCG 2 DEVCO 3 Limited and Aedifica
\nSonneborgh Ontwikkeling BV (associates).
\n
\n\n\n\n\n
\n\n\n\n\n
\n\n\n\n\n\n
\n\nII.A. Assets held for sale
\nProperties that are considered non-strategic and which are intended to be sold are included in line II.A.
\nThey are recognised at fair value, in accordance with IFRS 5.
\n
\n\n\n\n\n
\n\n\n\n\n\nII.C/D/E. Receivables
\nReceivables are measured at amortised cost. Impairment losses are recognised according to (i) the
\nmanagement assumption on outstanding receivables of more than 120 days and (ii) by applying the simplified
\nexpected credit loss (ECL) method in accordance with IFRS 9.
\n
\n\n\n\n\nII.G. Deferred charges and accrued income
\nCosts incurred during the year, which relate partially or in full to the following year, are recognised on a
\nproportional basis as deferred charges. Revenues and portions of revenues earned over the course of one or
\nseveral subsequent financial years, but which are also related to the current year, are recognised in income
\nfor the amount earned in the current year.
\n\nI.A. et II.A. Provisions
\nA provision is recognised on the balance sheet when the Group has an implicit or explicit legal obligation as
\na result of a past event, and for which it is very probable the resources will be used to extinguish this
\nobligation. Provisions are measured by calculating the present value of expected cash flows using a market
\ninterest rate. They are reflected as a liability on the balance sheet.
\n
\n\n\n\n\n\nI.C.b. Other non-current financial liabilities \u2013 Other
\nThe Company can commit itself to acquire the non-controlling shareholdings owned by third parties in
\nsubsidiaries, should these third parties wish to exercise their put options. The exercise price of such options
\ngranted to non-controlling interest is reflected on the balance sheet on line \u2018I.C.b. Other non-current financial
\nliabilities \u2013 Other\u2019.
\nAs required by IFRS 16, this balance sheet line also includes the long-term portion of the lease debt for
\ncompany cars, buildings used by the Group as offices and the rights of use related to plots of land \u2013 or similar
\nleases. This value is amortised using the 'effective interest rate method'.
\n
\n\n\n\n\n\n
\n\nI.F. Deferred tax liabilities
\nWhen a building is acquired outside of Belgium and the net income is consequently subject to foreign tax, a
\ndeferred tax is recognised on the balance sheet in relation to the unrealised capital gain (temporary difference
\nbetween the fair value and the assessed value used for tax purposes of the building in question).
\n
\n\n\n\n\n
\n\n\n\n\n
\n
\n\n\n\n\n
\n
\n
\n\nII.B/D/E. Current debts
\nDebts are recognised at amortised cost at the year-end date. Debts denominated in foreign currencies are
\nconverted into Euros using the spot rate on the year-end date. Foreign exchange gains or losses arising from
\nthe revaluation of foreign currency borrowings are recognised in the income statement, except for foreign
\nexchange gains and losses relating to the hedging of a foreign net investment, which are recognised directly
\nin other comprehensive income.
\n
\n\n\n\n\nII.F. Accrued charges and deferred income
\nIndemnities for early lease termination are recognised in the income statement when it is highly probable that
\nAedifica will collect the indemnities. To evaluate whether the fees will be collectible, Aedifica will only consider
\nthe customer's ability and intention to pay that amount when due.
\nI. to XV. Operating result before result on portfolio
\nThe objective of lines I through XV is to reflect the operating profit generated by the Company\u2019s rental property
\nportfolio, including general operating costs.
\n\nAll of Aedifica\u2019s leases are classified as operating leases with Aedifica being the lessor for the following
\nreasons:
\n\u2022 there is no transfer of ownership of the underlying asset at the end of the lease term;
\n\u2022 the lessee does not have the option to purchase the underlying asset at a price that is significantly
\nlower than the fair value;
\n\u2022 the lease term is usually shorter than the asset\u2019s main economic life.
\nLease incentives are recognised on a straight-line basis over the lease term, in accordance with IFRS 16.
\n
\n
\n\n\n\n\nXVI. to XIX. Operating result
\nThe objective of lines XVI through XIX is to reflect in the income statement all transactions and accounting
\nadjustments related to the value of the Company\u2019s portfolio:
\n\u2022 realised capital gains and losses: capital gains and losses are included in the line \u2018Gains and losses
\non disposals of investment properties\u2019;
\n\u2022 unrealised gains and losses (carried at fair value): changes in the portfolio\u2019s fair value are included in
\nthe income statement under \u2018changes in fair value of investment properties\u2019;
\n\u2022 commissions paid to real estate agents and other transaction costs: commissions related to the sale
\nof buildings are deducted from the sale price in determining the gain or loss on disposal which is
\nrecognised in the operating result. Fees paid to real estate and technical experts are recognised as
\ncurrent expenses.
\nThe result on disposals of investment properties represents the difference between sales proceeds (excluding
\ntransaction costs) and the latest reported fair value of the properties sold. The result is realised at the moment
\nof the transfer of risks and rewards.
\nGenerally, transfer taxes are to be paid by the person buying the building. However, in the case of \u2018acte en
\nmain\u2019 disposals, the transfer taxes are to be paid by the seller and are thus deducted from the sale price and
\nthe gain effectively realised.
\n\nXXV. to XXVI. Corporate tax and exit tax
\nLine XXV includes current and deferred taxes.
\nIncome tax is recognised in the income statement. It is the estimated tax attributable to the taxable income
\nof the year using the tax rate prevailing at the balance sheet date, together with any adjustment to tax liabilities
\nrelating to previous years.
\nWhen a building is acquired outside of Belgium and the net income is consequently subject to foreign tax, a
\ndeferred tax is recognised on the balance sheet in relation to the unrealised capital gain and the unrealised
\nloss (temporary difference between the fair value and the assessed value used for tax purposes of the building
\nin question). Except for the portion relating to items directly recognised in equity, deferred tax is recognised
\nin the income statement.
\nLine XXVI includes the exit tax. This is the tax on the capital gain resulting from the approval of a Belgian
\ncompany as a RREC or the merger of a non-RREC company with a RREC. When a company that does not
\nhave the status of a RREC but is eligible for this regime, enters in the consolidation scope of the Group for
\nthe first time, an exit tax provision is recognised at the company level, taking into account the anticipated
\ndate of the merger or approval. Any adjustment to this exit tax liability is recognised in the income statement.
\nThis tax will be paid when the company is merged into the parent company with RREC status.
\nWhen the merger or approval takes place, the provision becomes a liability and any difference is also
\nrecognised in the income statement.
\nGroup insurance
\nAedifica\u2019s insurance contracts in Belgium are considered as defined contribution plans. These contracts are
\nanalysed in Note 31.
\nHoivatilat\u2019s \u2018equity incentive plan\u2019
\nThe employees of Hoivatilat Oyj benefit from an equity incentive plan, This plan provides the participants with
\nthe opportunity to receive Aedifica shares or a cash equivalent as a reward for achieving the targets of the
\nearnings criteria separately set by the Hoivatilat Board for each earning period.
\nThe Board of Directors will decide separately for each participant the amount of their maximum award for
\neach earning period. The maximum award is expressed as Aedifica shares or equivalent.
\nThe plan foresees 2 parts:
\n\u2022 A number of shares of Hoivatilat Oyj which are converted into Aedifica shares.
\n\u2022 A cash contribution used to cover the applicable taxes and other charges.
\nAedifica has the choice between delivering new or existing Aedifica shares or a cash settlement.
\nFollowing the recommendations of IFRS 2, amounts related to the equity incentive plan are recognised in
\nequity against the income statement in the consolidated accounts.
\n
\n\n\n\n\n
\n
\n
\n\n\n\n",
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"value": "\n
\n
\n
\n
\nNote 2.1: Basis of preparation
\n\nThe Consolidated Financial Statements cover the 12-month period from 1 January 2023 to 31 December
\n2023. They have been prepared in accordance with the International Financial Reporting Standards (\u2018IFRS\u2019)
\nas adopted by the European Union and the interpretations as published by the International Accounting
\nStandards Board (\u2018IASB\u2019) and the International Financial Reporting Interpretations Committee (\u2018IFRIC\u2019), to the
\nextent to which they are applicable to the Group's activities and are effective for the financial years starting
\non or after 31 December 2022. The Consolidated Financial Statements have also been prepared in
\naccordance with the Royal Decree of 13 July 2014 on Regulated Real Estate Companies. The Consolidated
\nFinancial Statements are prepared in euros and presented in thousands of euros.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nThe Consolidated Financial Statements have been prepared with application of the historical cost convention,
\nexcept for the following assets and liabilities, which are measured at fair value: investment properties,
\ninvestment properties held for sale, financial assets and liabilities held for hedging purposes or not (mainly
\nderivatives), put options granted to non-controlling shareholders and equity-accounted investments.
\n\n
\n
\n\nThe Consolidated Financial Statements have been prepared in accordance with accrual accounting principles
\non a going concern basis.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\nThe preparation of the Consolidated Financial Statements in conformity with IFRS requires significant
\njudgment in the application of accounting policies (including the classification of lease contracts, identification
\nof business combinations, and calculation of deferred taxes) and the use of certain accounting estimates
\n(such as goodwill impairment tests and determination of fair value of investment properties). Underlying
\nassumptions are based on prior experience, input from third parties (notably real estate experts), and on other
\nrelevant factors. Actual results may vary on the basis of these estimations. Consequently, the assumptions
\nand estimates are regularly revisited and modified as necessary.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nThe new and amended standards and interpretations listed below are compulsory for the Group since
\n1 January 2023, but had no significant impact on the current Consolidated Financial Statements:
\n\u2022 amendments to IFRS 17 \u2018Insurance Contracts\u2019 (applicable as from 1 January 2023);
\n\u2022 amendments to IAS 1 \u2018Presentation of Financial Statements and IFRS Practice Statement 2:
\nDisclosure of Accounting policies\u2019 (applicable as from 1 January 2023);
\n\u2022 amendments to IAS 8 \u2018Accounting policies, Changes in Accounting Estimates and Errors: Definition
\nof Accounting Estimates\u2019 (applicable as from 1 January 2023);
\n\u2022 amendments to IAS 12 \u2018Income Taxes: Deferred Tax related to Assets and Liabilities arising from a
\nSingle Transaction\u2019 (applicable as from 1 January 2023);
\n\u2022 amendments to IFRS 17 \u2018Insurance contracts: Initial Application of IFRS 17 and IFRS 9 \u2013 Comparative
\nInformation\u2019 (applicable as from 1 January 2023);
\n\u2022 amendments to IAS 12 Income taxes \u2018International Tax Reform \u2013 Pillar Two Model Rules\u2019 (applicable
\nas from 1 January 2023).
\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\nCertain new standards, amendments and interpretations of existing standards have been published and will
\nbe compulsory for financial years starting on or after 1 January 2024. These amendments, which the Group
\ndid not apply early, are as follows (situation as at 12 January 2024):
\n\u2022 new standard for IFRS 14 \u2018Regulatory Deferral Accounts\u2019 (for which no application date can be
\ndetermined because the EU has decided not to start the approval process of this provisional standard,
\npending the publication of a final standard);
\n\u2022 amendment to IAS 1 \u2018Presentation of Financial Statements: Classification of Liabilities as Current or
\nNon-current\u2019 (applicable as from 1 January 2024);
\n\u2022 amendments to IFRS 16 \u2018Lease Liability in a Sale and Leaseback\u2019 (applicable as from 1 January 2024);
\n\u2022 amendments to IAS 7 Statement of Cash Flows and IFRS 7 Financial Instruments \u2018Disclosures:
\nSupplier Finance Arrangement\u2019 (applicable as from 1 January 2024, subject to EU approval);
\n\u2022 amendments to IAS 21 The Effects of Changes in Foreign Exchange Rates \u2018Lack of Exchangeability\u2019
\n(applicable as from 1 January 2025, subject to EU approval).
\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n",
"dimensions": {
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"Tag746": {
"value": "\nThe Consolidated Financial Statements cover the 12-month period from 1 January 2023 to 31 December
\n2023. They have been prepared in accordance with the International Financial Reporting Standards (\u2018IFRS\u2019)
\nas adopted by the European Union and the interpretations as published by the International Accounting
\nStandards Board (\u2018IASB\u2019) and the International Financial Reporting Interpretations Committee (\u2018IFRIC\u2019), to the
\nextent to which they are applicable to the Group's activities and are effective for the financial years starting
\non or after 31 December 2022. The Consolidated Financial Statements have also been prepared in
\naccordance with the Royal Decree of 13 July 2014 on Regulated Real Estate Companies. The Consolidated
\nFinancial Statements are prepared in euros and presented in thousands of euros.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n\nThe Consolidated Financial Statements have been prepared in accordance with accrual accounting principles
\non a going concern basis.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\nThe preparation of the Consolidated Financial Statements in conformity with IFRS requires significant
\njudgment in the application of accounting policies (including the classification of lease contracts, identification
\nof business combinations, and calculation of deferred taxes) and the use of certain accounting estimates
\n(such as goodwill impairment tests and determination of fair value of investment properties). Underlying
\nassumptions are based on prior experience, input from third parties (notably real estate experts), and on other
\nrelevant factors. Actual results may vary on the basis of these estimations. Consequently, the assumptions
\nand estimates are regularly revisited and modified as necessary.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n",
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"value": "\nThe Consolidated Financial Statements have been prepared in accordance with accrual accounting principles
\non a going concern basis.
\n
\n\n\n\n\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfGoingConcernExplanatory",
"language": "en",
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"Tag748": {
"value": "\nThe preparation of the Consolidated Financial Statements in conformity with IFRS requires significant
\njudgment in the application of accounting policies (including the classification of lease contracts, identification
\nof business combinations, and calculation of deferred taxes) and the use of certain accounting estimates
\n(such as goodwill impairment tests and determination of fair value of investment properties). Underlying
\nassumptions are based on prior experience, input from third parties (notably real estate experts), and on other
\nrelevant factors. Actual results may vary on the basis of these estimations. Consequently, the assumptions
\nand estimates are regularly revisited and modified as necessary.
\n
\n\n\n\n\n\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfAccountingJudgementsAndEstimatesExplanatory",
"language": "en",
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"Tag749": {
"value": "\nThe new and amended standards and interpretations listed below are compulsory for the Group since
\n1 January 2023, but had no significant impact on the current Consolidated Financial Statements:
\n\u2022 amendments to IFRS 17 \u2018Insurance Contracts\u2019 (applicable as from 1 January 2023);
\n\u2022 amendments to IAS 1 \u2018Presentation of Financial Statements and IFRS Practice Statement 2:
\nDisclosure of Accounting policies\u2019 (applicable as from 1 January 2023);
\n\u2022 amendments to IAS 8 \u2018Accounting policies, Changes in Accounting Estimates and Errors: Definition
\nof Accounting Estimates\u2019 (applicable as from 1 January 2023);
\n\u2022 amendments to IAS 12 \u2018Income Taxes: Deferred Tax related to Assets and Liabilities arising from a
\nSingle Transaction\u2019 (applicable as from 1 January 2023);
\n\u2022 amendments to IFRS 17 \u2018Insurance contracts: Initial Application of IFRS 17 and IFRS 9 \u2013 Comparative
\nInformation\u2019 (applicable as from 1 January 2023);
\n\u2022 amendments to IAS 12 Income taxes \u2018International Tax Reform \u2013 Pillar Two Model Rules\u2019 (applicable
\nas from 1 January 2023).
\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n",
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"Tag750": {
"value": "\nCertain new standards, amendments and interpretations of existing standards have been published and will
\nbe compulsory for financial years starting on or after 1 January 2024. These amendments, which the Group
\ndid not apply early, are as follows (situation as at 12 January 2024):
\n\u2022 new standard for IFRS 14 \u2018Regulatory Deferral Accounts\u2019 (for which no application date can be
\ndetermined because the EU has decided not to start the approval process of this provisional standard,
\npending the publication of a final standard);
\n\u2022 amendment to IAS 1 \u2018Presentation of Financial Statements: Classification of Liabilities as Current or
\nNon-current\u2019 (applicable as from 1 January 2024);
\n\u2022 amendments to IFRS 16 \u2018Lease Liability in a Sale and Leaseback\u2019 (applicable as from 1 January 2024);
\n\u2022 amendments to IAS 7 Statement of Cash Flows and IFRS 7 Financial Instruments \u2018Disclosures:
\nSupplier Finance Arrangement\u2019 (applicable as from 1 January 2024, subject to EU approval);
\n\u2022 amendments to IAS 21 The Effects of Changes in Foreign Exchange Rates \u2018Lack of Exchangeability\u2019
\n(applicable as from 1 January 2025, subject to EU approval).
\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n",
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"Tag751": {
"value": "\n
\n\nConsolidation principles \u2013 Subsidiaries
\nAll entities for which Aedifica (directly or indirectly) holds more than half of the voting rights or has the power
\nto control operations are considered subsidiaries and included in the scope of comprehensive consolidation.
\nThe comprehensive consolidation consists of incorporating all assets and liabilities of subsidiaries, as well as
\nincome and expenses. Minority interests are included in a separate line of the balance sheet and the income
\nstatement. In accordance with IFRS 10, subsidiaries are fully consolidated as from the date on which control
\nis transferred to the Group; they are de-consolidated as from the date that control ceases. All intercompany
\ntransactions, balances, and unrealised gains and losses on transactions between the Group\u2019s companies are
\neliminated.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\nConsolidation principles \u2013 Associates and joint ventures
\nAn associate is an entity over which the Group has significant influence and which is neither a subsidiary, nor
\nan interest in a joint arrangement. Significant influence is the power to participate in the financial and operating
\npolicy decisions of the investee, but does not imply control or joint control over those policies.
\nA joint venture is a joint arrangement in which the parties that have joint control of the arrangement have
\nrights to the net assets of the arrangement. Joint control is the contractually agreed sharing of control of an
\narrangement, which exists only when decisions on relevant activities require the unanimous consent of the
\nparties sharing control.
\nUnder the equity method, the investment in an associate or joint venture is initially recognised at cost, and
\nthe carrying amount is increased or decreased to recognise the investor\u2019s share of the profit or loss of the
\ninvestee after the date of acquisition. The investor\u2019s share of the investee\u2019s profit or loss is recognised in the
\ninvestor\u2019s profit or loss.
\nConsolidation principles \u2013 Partnership
\nAll agreements whereby the parties that have joint control of an arrangement which give rights to the assets
\nand obligations for the liabilities relating to the arrangement and that, following the framework of IFRS 11, are
\ndetermined as joint operations, are consolidated following a proportional consolidation (Aedifica has only one
\nsuch partnership, namely AKJV in the Netherlands).
\n
\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n",
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"Tag752": {
"value": "\nConsolidation principles \u2013 Subsidiaries
\nAll entities for which Aedifica (directly or indirectly) holds more than half of the voting rights or has the power
\nto control operations are considered subsidiaries and included in the scope of comprehensive consolidation.
\nThe comprehensive consolidation consists of incorporating all assets and liabilities of subsidiaries, as well as
\nincome and expenses. Minority interests are included in a separate line of the balance sheet and the income
\nstatement. In accordance with IFRS 10, subsidiaries are fully consolidated as from the date on which control
\nis transferred to the Group; they are de-consolidated as from the date that control ceases. All intercompany
\ntransactions, balances, and unrealised gains and losses on transactions between the Group\u2019s companies are
\neliminated.
\n
\n\n\n\n\n\n\n\n\n\n\n\n",
"dimensions": {
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"Tag753": {
"value": "\nConsolidation principles \u2013 Associates and joint ventures
\nAn associate is an entity over which the Group has significant influence and which is neither a subsidiary, nor
\nan interest in a joint arrangement. Significant influence is the power to participate in the financial and operating
\npolicy decisions of the investee, but does not imply control or joint control over those policies.
\nA joint venture is a joint arrangement in which the parties that have joint control of the arrangement have
\nrights to the net assets of the arrangement. Joint control is the contractually agreed sharing of control of an
\narrangement, which exists only when decisions on relevant activities require the unanimous consent of the
\nparties sharing control.
\nUnder the equity method, the investment in an associate or joint venture is initially recognised at cost, and
\nthe carrying amount is increased or decreased to recognise the investor\u2019s share of the profit or loss of the
\ninvestee after the date of acquisition. The investor\u2019s share of the investee\u2019s profit or loss is recognised in the
\ninvestor\u2019s profit or loss.
\nConsolidation principles \u2013 Partnership
\nAll agreements whereby the parties that have joint control of an arrangement which give rights to the assets
\nand obligations for the liabilities relating to the arrangement and that, following the framework of IFRS 11, are
\ndetermined as joint operations, are consolidated following a proportional consolidation (Aedifica has only one
\nsuch partnership, namely AKJV in the Netherlands).
\n
\n\n\n\n\n\n\n\n\n\n\nForeign currency
\nAedifica primarily operates in the euro zone. Euro is the functional currency of the Group and the Consolidated
\nFinancial Statements. The functional currency of the UK subsidiaries is the pound sterling and that of the
\nSwedish subsidiaries is the Swedish krona. Foreign currency transactions are translated to the respective
\nfunctional currency of the Group entities at the exchange rate prevailing at the date of the transaction. Foreign
\nexchange gains and losses resulting from settling these, or from retranslating monetary assets and liabilities
\nheld in foreign currencies, are booked in the Income Statement. Exceptions to this rule are foreign currency
\nloans hedging investments in foreign subsidiaries and intra-group loans meeting the definition of a net
\ninvestment in a foreign operation. In such cases, exchange differences are booked in a separate component
\nof shareholders\u2019 equity until the disposal of the investment.
\n
\n\n\n\n\n\n\n\n\n\n\n
\n\n
\n\nI.I. Participations in associates and joint ventures
\nParticipations in associates and joint ventures are the Group\u2019s participating interests in companies over which
\nthe Group has no or only joint control. Under the equity method, the investment in an associate or joint venture
\nis initially recognised at cost, and the carrying amount is increased or decreased to recognise the investor\u2019s
\nshare of the profit or loss of the investee after the date of acquisition. The investor\u2019s share of the investee\u2019s
\nprofit or loss is recognised in the investor\u2019s profit or loss.
\nThey relate to Immobe NV/SA, MMCG 2 DEVCO 2 Limited, MMCG 2 DEVCO 3 Limited and Aedifica
\nSonneborgh Ontwikkeling BV (associates).
\n
\n\n\n\n\n
\n\n\n\n\n
\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForInvestmentInAssociatesAndJointVenturesExplanatory",
"language": "en",
"entity": "scheme:529900DTKNXL0AXQFN28",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag760": {
"value": "Euro is the functional currency of the Group and the Consolidated Financial Statements. ",
"dimensions": {
"concept": "ifrs-full:DescriptionOfFunctionalCurrency",
"language": "en",
"entity": "scheme:529900DTKNXL0AXQFN28",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag754": {
"value": "\nConsolidation of foreign entities
\nAssets and liabilities of the foreign entities are translated into euro at exchange rates ruling at the balance
\nsheet date. The income statement is translated at the average rate for the period or at spot rate for significant
\nitems. Resulting exchange differences are booked in other comprehensive income and recognised in the
\nGroup income statement when the operation is sold.
\nThe principal exchange rates used to translate foreign currency denominated amounts in book year 2023 are:
\n\u2022 balance sheet: \u20ac1 = \u00a30.86632
\n\u2022 income statement: \u20ac1 = \u00a30.86969
\n\u2022 balance sheet: \u20ac1 = SEK 11.14057
\n\u2022 income statement: \u20ac1 = SEK 11.47425
\n
\n\n\n\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory",
"language": "en",
"entity": "scheme:529900DTKNXL0AXQFN28",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag755": {
"value": "\n
\n
\n\n
\n\nI.A. Goodwill
\nBusiness combinations are recognised using the purchase method in accordance with IFRS 3. The excess of
\nthe acquisition cost over the fair value of the Group\u2019s share of the net identifiable assets of the acquired
\nbusiness at the date of acquisition is recognised as goodwill (an asset). In the event that this value is negative,
\nit is recognised immediately in profit. Goodwill is tested annually for impairment and carried at cost less
\naccumulated impairment losses.
\n
\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\nI.B. Intangible Assets
\nIntangible assets are capitalised as assets at their acquisition cost and are amortised using the straight-line
\nmethod at annual rates between 14.29% (7 years) and 33% (3 years).
\n
\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForIntangibleAssetsAndGoodwillExplanatory",
"language": "en",
"entity": "scheme:529900DTKNXL0AXQFN28",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag756": {
"value": "\n
\n\nI.A. Goodwill
\nBusiness combinations are recognised using the purchase method in accordance with IFRS 3. The excess of
\nthe acquisition cost over the fair value of the Group\u2019s share of the net identifiable assets of the acquired
\nbusiness at the date of acquisition is recognised as goodwill (an asset). In the event that this value is negative,
\nit is recognised immediately in profit. Goodwill is tested annually for impairment and carried at cost less
\naccumulated impairment losses.
\n
\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForGoodwillExplanatory",
"language": "en",
"entity": "scheme:529900DTKNXL0AXQFN28",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag757": {
"value": "\nI.A. Goodwill
\nBusiness combinations are recognised using the purchase method in accordance with IFRS 3. The excess of
\nthe acquisition cost over the fair value of the Group\u2019s share of the net identifiable assets of the acquired
\nbusiness at the date of acquisition is recognised as goodwill (an asset). In the event that this value is negative,
\nit is recognised immediately in profit. Goodwill is tested annually for impairment and carried at cost less
\naccumulated impairment losses.
\n
\n\n\n\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForBusinessCombinationsExplanatory",
"language": "en",
"entity": "scheme:529900DTKNXL0AXQFN28",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag761": {
"value": "Goodwill is tested annually for impairment and carried at cost less accumulated impairment losses. ",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfFinancialAssetsExplanatory",
"language": "en",
"entity": "scheme:529900DTKNXL0AXQFN28",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag758": {
"value": "\nI.B. Intangible Assets
\nIntangible assets are capitalised as assets at their acquisition cost and are amortised using the straight-line
\nmethod at annual rates between 14.29% (7 years) and 33% (3 years).
\n
\n\n\n\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForIntangibleAssetsOtherThanGoodwillExplanatory",
"language": "en",
"entity": "scheme:529900DTKNXL0AXQFN28",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag759": {
"value": "\nI.C. Investment Properties
\n1. Initial recognition
\n1.1 Acquisition value
\nIf the acquisition of a building takes place by cash payment, through the acquisition of shares of a real estate
\ncompany, through the non-monetary contribution of a building against the issuance of new shares, by merger
\nthrough takeover of a property, or by a partial de-merger, the deed costs, audit and consultancy costs,
\nreinvestment bank fees, costs of lifting security on the financing of the absorbed company, and other costs
\nrelating to the merger are also considered part of the acquisition cost and capitalised in the asset accounts
\non the balance sheet.
\n1.2 Investment value
\n\u2018Investment value\u2019 is defined as the value assessed by a valuation expert, from which transfer costs have not
\nbeen deducted (also known as \u2018gross capital value\u2019).
\n1.3 Fair value
\nProperties in the Group\u2019s portfolio or which enter into its portfolio, either with payment in cash or in kind, are
\nvalued by independent experts at their fair value.
\nThe fair value of investment properties located in Belgium is calculated as follows:
\n\u2022 buildings with an investment value greater than \u20ac2.5 million: Fair value = investment value / (1+ the
\naverage transaction cost defined by the BE-REIT Association);
\n\u2022 buildings with an investment value less than \u20ac2.5 million:
\n- 1) where the expert considers that the building can be divided and sold in separate units (notably
\nindividual apartments), the fair value is defined as the lower of the separated investment value /
\n(1 + % transfer tax levied in the region where the building is located) and the investment value /
\n(1+ the average transaction cost defined by the BE-REIT Association);
\n- 2) where the expert considers that the building cannot be divided and sold in separate units, the
\nfair value is the investment value / (1 + % transfer tax levied in the region where the building is
\nlocated).
\nThe average transaction cost defined by the BE-REIT Association is revised annually and adjusted as
\nnecessary in increments of 0.5%.
\nExperts attest to the percentage deducted and retained in regular reports to shareholders; it currently
\namounts to 2.5%.
\n
\n
\n\n\n\n\n\n\n\n\n\n\nThe fair value of investment properties located abroad take into account locally applicable legal costs.
\nTransfer taxes on acquisitions and any change in the fair value of properties during the financial year are
\ndirectly recognised in the income statement.
\n1.4 Treatment of differences at the time of acquisition
\nIf, for acquisitions such as those defined in section I.C.1.1 (\u2018Acquisition value\u2019) above, the fair value determined
\nby the independent expert is different than the acquisition value defined in section I.C.1.1, the difference is
\nbooked in the income statement under line \u2018XVIII. Changes in fair value of investment properties\u2019.
\n2. Accounting for works projects (subsequent expenditures)
\nCosts incurred by Aedifica for works carried out on investment properties are accounted for using one of two
\ndistinct methods, depending on the nature of the costs. The cost of repairs and maintenance, which neither
\nadd new functionality nor constitute a significant enhancement or upgrade to the building, are recognised as
\nincurred expenses and are thus deducted from the year\u2019s profit. Subsequent expenditures related to two
\ntypes of works projects are capitalised as assets on the Company\u2019s balance sheet:
\n\u2022 a) major renovations and extensions: these usually take place every 25 to 35 years and represent an
\nalmost complete renovation of the building, often reusing parts of the original building and applying
\nthe most up-to-date building techniques. Upon completion of these major renovation projects, the
\nbuildings are considered as new and are presented as such in the real estate portfolio.
\n\u2022 b) upgrades: these consist of occasional works that add new functionality, increase capacity, or
\nsignificantly enhance or upgrade the building, making it possible to raise rents, and thus increase the
\nbuilding\u2019s estimated rental income.
\nThe costs relating to these works are also capitalised in the balance sheet for the reason and to the extent
\nthat the experts usually recognise a corresponding increase in the value of the building. Costs that may be
\ncapitalised include: materials, contractor fees, technical studies, and staff fees or costs. Any excess of these
\ncosts over fair value is recognised as an expense in the income statement.
\nBorrowing costs are capitalised for all qualifying projects with a duration of more than one year.
\n3. Recurring remeasurement and remeasurement in the event of share transactions
\n3.1 Depreciation
\nIn accordance with IAS 40, Aedifica applies the fair value model and does not recognise depreciation on its
\nproperties, the rights in rem on properties, or on properties rented to the Company under finance leases.
\n3.2 Share transactions
\nReal estate properties held by Aedifica and by the subsidiaries under its control are valued by experts each
\ntime the Company proceeds to issue new shares, list shares on the stock exchange, or repurchase shares
\nother than through the stock exchange. While Aedifica is not bound by this valuation, any issue or repurchase
\nprice set below this level must be justified (in the form of a special report).
\nA new valuation is not required when a share issuance falls within four months of the last valuation of the
\nproperty concerned, so long as the experts confirm that neither the economic situation nor the physical state
\nof the property make a new valuation necessary.
\n3.3 Quarterly revaluations
\nEach quarter, valuation experts perform a calculation of fair value based on the conditions of the properties
\nand on fluctuations observed in the real estate market. This valuation is carried out on a building-by-building
\nbasis and covers Aedifica\u2019s entire real estate portfolio, including properties held by its subsidiaries.
\nThese valuations are binding for Aedifica and must be reflected in the accounts. Thus, the carrying amount
\nof the properties in the accounts corresponds to the fair value at which they are assessed by Aedifica\u2019s
\nindependent valuation experts.
\n3.4 Accounting for changes in fair value
\nChanges in the fair value of real estate properties, as determined by independent experts, arise each time the
\nvalue is assessed. They are accounted for in the income statement.
\n4. Asset disposals
\nUpon disposal of an investment property, the gain or loss on disposal is recognised in the income statement,
\nin line \u2018XVI. Gains and losses on disposals of investment properties\u2019.
\n5. Owner-occupied investment property
\nAny investment property occupied by Aedifica is transferred to the line \u2018other tangible assets\u2019 of the balance
\nsheet. Its fair value at the time of the transfer becomes its deemed acquisition cost. If the Company only
\noccupies a small part of the building, the whole building is recognised as \u2018investment property\u2019 in the balance
\nsheet and continues to be carried at fair value.
\n6. Development projects
\nBuildings under construction, renovation, or extension, which are considered development projects are
\nrecognised on the balance sheet at historical cost, including transfer taxes, non-recoverable VAT and indirect
\nexpenses (capitalised interest, insurance, legal fees, architectural fees, consulting fees, etc.). If the historical
\ncost deviates from the fair value appraised by the independent expert, the deviation is recognised in the
\nincome statement in order to bring the carrying amount in line with the fair value. Costs incurred in the
\npreliminary phase of development projects are recognised at their historical value.
\n7. Rights of use on plots of land
\nRights of use recognised in the balance sheet for concession or leasehold purposes or similar leases (as a
\nresult of IFRS 16 coming into force) are also considered as investment properties.
\n8. Land reserve
\nIn 2023, Aedifica created a new \u2018land reserve\u2019 category that includes all plots of land without committed
\nprojects.
\n
\n
\n
\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForInvestmentPropertyExplanatory",
"language": "en",
"entity": "scheme:529900DTKNXL0AXQFN28",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag762": {
"value": "Belgium",
"dimensions": {
"concept": "ifrs-full:DomicileOfEntity",
"language": "en",
"entity": "scheme:529900DTKNXL0AXQFN28",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag655": {
"value": "\n
\n\nI.D. Other tangible assets
\nTangible assets with definite useful lives, which fall outside the scope of investment property, are initially
\nrecognised at their acquisition cost. The components approach is not applied (based on materiality criteria).
\nDepreciation is charged on a linear basis using the pro rata temporis method. As residual values are
\nconsidered marginal, accumulated depreciation is expected to cover the total acquisition cost of each item
\nincluded in other tangible assets.
\nThe following depreciation rates are applied:
\n\u2022 plant, machinery and equipment: 20%;
\n\u2022 other furniture: 20%;
\n\u2022 vehicles: 20% to 25%;
\n\u2022 IT: 20% to 33%.
\nAs required by IFRS 16, this balance sheet line also includes the value of the right of use of company cars
\nand buildings used by the Group as offices. This value is depreciated on a straight-line basis over the term of
\nthe contracts.
\n
\n\n\n\n\n
\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForDepreciationExpenseExplanatory",
"language": "en",
"entity": "scheme:529900DTKNXL0AXQFN28",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag656": {
"value": "\nI.D. Other tangible assets
\nTangible assets with definite useful lives, which fall outside the scope of investment property, are initially
\nrecognised at their acquisition cost. The components approach is not applied (based on materiality criteria).
\nDepreciation is charged on a linear basis using the pro rata temporis method. As residual values are
\nconsidered marginal, accumulated depreciation is expected to cover the total acquisition cost of each item
\nincluded in other tangible assets.
\nThe following depreciation rates are applied:
\n\u2022 plant, machinery and equipment: 20%;
\n\u2022 other furniture: 20%;
\n\u2022 vehicles: 20% to 25%;
\n\u2022 IT: 20% to 33%.
\nAs required by IFRS 16, this balance sheet line also includes the value of the right of use of company cars
\nand buildings used by the Group as offices. This value is depreciated on a straight-line basis over the term of
\nthe contracts.
\n
\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory",
"language": "en",
"entity": "scheme:529900DTKNXL0AXQFN28",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag657": {
"value": "\n
\nI.E. Non-current financial assets
\n
\n
\n
\n\n
\n\n
\n\n
\n1. Hedging instruments
\nWhen a derivative provides cash flow hedges to cover a specific risk arising from a financial asset or a firm
\ncommitment or a highly probable transaction liability and meets the criteria for hedge accounting under
\nIFRS 9, the effective portion of the income or expense is recognised directly in equity (line \u2018I.C.d. Reserve for
\nthe balance of changes in fair value of authorised hedging instruments qualifying for hedge accounting as
\ndefined under IFRS\u2019). The ineffective portion is recognised in the income statement.
\nWhen a derivative does not meet the criteria for hedge accounting under IFRS 9, it is recognised on the
\nbalance sheet at its fair value, and changes in fair value are recognised in the income statement as they occur.
\n2. Other financial and non-current assets
\nFinancial assets classified as held for sale are valued at fair value (market value if available, otherwise
\nacquisition value). Changes in fair value are recognised in the income statement. Receivables are valued at
\namortised cost.
\n
\n\n\n\n
\n\n\n\n
\n\n\n\n
\n\n\n\nII.C/D/E. Receivables
\nReceivables are measured at amortised cost. Impairment losses are recognised according to (i) the
\nmanagement assumption on outstanding receivables of more than 120 days and (ii) by applying the simplified
\nexpected credit loss (ECL) method in accordance with IFRS 9.
\n
\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialAssetsExplanatory",
"language": "en",
"entity": "scheme:529900DTKNXL0AXQFN28",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag658": {
"value": "\n
\n\n
\n\n
\n1. Hedging instruments
\nWhen a derivative provides cash flow hedges to cover a specific risk arising from a financial asset or a firm
\ncommitment or a highly probable transaction liability and meets the criteria for hedge accounting under
\nIFRS 9, the effective portion of the income or expense is recognised directly in equity (line \u2018I.C.d. Reserve for
\nthe balance of changes in fair value of authorised hedging instruments qualifying for hedge accounting as
\ndefined under IFRS\u2019). The ineffective portion is recognised in the income statement.
\nWhen a derivative does not meet the criteria for hedge accounting under IFRS 9, it is recognised on the
\nbalance sheet at its fair value, and changes in fair value are recognised in the income statement as they occur.
\n2. Other financial and non-current assets
\nFinancial assets classified as held for sale are valued at fair value (market value if available, otherwise
\nacquisition value). Changes in fair value are recognised in the income statement. Receivables are valued at
\namortised cost.
\n
\n\n\n\n
\n\n\n\n
\n\n\n",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForDerivativeFinancialInstrumentsAndHedgingExplanatory",
"language": "en",
"entity": "scheme:529900DTKNXL0AXQFN28",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag659": {
"value": "\n
\n\n
\n1. Hedging instruments
\nWhen a derivative provides cash flow hedges to cover a specific risk arising from a financial asset or a firm
\ncommitment or a highly probable transaction liability and meets the criteria for hedge accounting under
\nIFRS 9, the effective portion of the income or expense is recognised directly in equity (line \u2018I.C.d. Reserve for
\nthe balance of changes in fair value of authorised hedging instruments qualifying for hedge accounting as
\ndefined under IFRS\u2019). The ineffective portion is recognised in the income statement.
\nWhen a derivative does not meet the criteria for hedge accounting under IFRS 9, it is recognised on the
\nbalance sheet at its fair value, and changes in fair value are recognised in the income statement as they occur.
\n2. Other financial and non-current assets
\nFinancial assets classified as held for sale are valued at fair value (market value if available, otherwise
\nacquisition value). Changes in fair value are recognised in the income statement. Receivables are valued at
\namortised cost.
\n
\n\n\n\n
\n\n\n",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory",
"language": "en",
"entity": "scheme:529900DTKNXL0AXQFN28",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag660": {
"value": "\n
\n1. Hedging instruments
\nWhen a derivative provides cash flow hedges to cover a specific risk arising from a financial asset or a firm
\ncommitment or a highly probable transaction liability and meets the criteria for hedge accounting under
\nIFRS 9, the effective portion of the income or expense is recognised directly in equity (line \u2018I.C.d. Reserve for
\nthe balance of changes in fair value of authorised hedging instruments qualifying for hedge accounting as
\ndefined under IFRS\u2019). The ineffective portion is recognised in the income statement.
\nWhen a derivative does not meet the criteria for hedge accounting under IFRS 9, it is recognised on the
\nbalance sheet at its fair value, and changes in fair value are recognised in the income statement as they occur.
\n2. Other financial and non-current assets
\nFinancial assets classified as held for sale are valued at fair value (market value if available, otherwise
\nacquisition value). Changes in fair value are recognised in the income statement. Receivables are valued at
\namortised cost.
\n
\n\n\n",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForHedgingExplanatory",
"language": "en",
"entity": "scheme:529900DTKNXL0AXQFN28",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag661": {
"value": "\nI.H. Deferred tax assets
\nWhen a building is acquired outside of Belgium, the Deferred Tax Assets mainly relate to unrealised losses
\non the difference between the fair value and the tax value of the buildings, whereby we expect that the
\neffective tax loss (in case of a sale) can be offset with the taxable income of the entity concerned in the
\nforeseeable future.
\n
\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForDeferredIncomeTaxExplanatory",
"language": "en",
"entity": "scheme:529900DTKNXL0AXQFN28",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag662": {
"value": "Belgium",
"dimensions": {
"concept": "ifrs-full:CountryOfIncorporation",
"language": "en",
"entity": "scheme:529900DTKNXL0AXQFN28",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag663": {
"value": "\n
\n\nI.I. Participations in associates and joint ventures
\nParticipations in associates and joint ventures are the Group\u2019s participating interests in companies over which
\nthe Group has no or only joint control. Under the equity method, the investment in an associate or joint venture
\nis initially recognised at cost, and the carrying amount is increased or decreased to recognise the investor\u2019s
\nshare of the profit or loss of the investee after the date of acquisition. The investor\u2019s share of the investee\u2019s
\nprofit or loss is recognised in the investor\u2019s profit or loss.
\nThey relate to Immobe NV/SA, MMCG 2 DEVCO 2 Limited, MMCG 2 DEVCO 3 Limited and Aedifica
\nSonneborgh Ontwikkeling BV (associates).
\n
\n\n\n\n\n
\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForInvestmentInAssociates",
"language": "en",
"entity": "scheme:529900DTKNXL0AXQFN28",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag664": {
"value": "\nI.I. Participations in associates and joint ventures
\nParticipations in associates and joint ventures are the Group\u2019s participating interests in companies over which
\nthe Group has no or only joint control. Under the equity method, the investment in an associate or joint venture
\nis initially recognised at cost, and the carrying amount is increased or decreased to recognise the investor\u2019s
\nshare of the profit or loss of the investee after the date of acquisition. The investor\u2019s share of the investee\u2019s
\nprofit or loss is recognised in the investor\u2019s profit or loss.
\nThey relate to Immobe NV/SA, MMCG 2 DEVCO 2 Limited, MMCG 2 DEVCO 3 Limited and Aedifica
\nSonneborgh Ontwikkeling BV (associates).
\n
\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForInvestmentsInJointVentures",
"language": "en",
"entity": "scheme:529900DTKNXL0AXQFN28",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag665": {
"value": "\n
\n\nII.A. Assets held for sale
\nProperties that are considered non-strategic and which are intended to be sold are included in line II.A.
\nThey are recognised at fair value, in accordance with IFRS 5.
\n
\n\n\n\n\n
\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleAndDiscontinuedOperationsExplanatory",
"language": "en",
"entity": "scheme:529900DTKNXL0AXQFN28",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag666": {
"value": "\nII.A. Assets held for sale
\nProperties that are considered non-strategic and which are intended to be sold are included in line II.A.
\nThey are recognised at fair value, in accordance with IFRS 5.
\n
\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleExplanatory",
"language": "en",
"entity": "scheme:529900DTKNXL0AXQFN28",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag667": {
"value": "\nI.A. et II.A. Provisions
\nA provision is recognised on the balance sheet when the Group has an implicit or explicit legal obligation as
\na result of a past event, and for which it is very probable the resources will be used to extinguish this
\nobligation. Provisions are measured by calculating the present value of expected cash flows using a market
\ninterest rate. They are reflected as a liability on the balance sheet.
\n
\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForProvisionsExplanatory",
"language": "en",
"entity": "scheme:529900DTKNXL0AXQFN28",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag668": {
"value": "\nI.C.b. Other non-current financial liabilities \u2013 Other
\nThe Company can commit itself to acquire the non-controlling shareholdings owned by third parties in
\nsubsidiaries, should these third parties wish to exercise their put options. The exercise price of such options
\ngranted to non-controlling interest is reflected on the balance sheet on line \u2018I.C.b. Other non-current financial
\nliabilities \u2013 Other\u2019.
\nAs required by IFRS 16, this balance sheet line also includes the long-term portion of the lease debt for
\ncompany cars, buildings used by the Group as offices and the rights of use related to plots of land \u2013 or similar
\nleases. This value is amortised using the 'effective interest rate method'.
\n
\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialLiabilitiesExplanatory",
"language": "en",
"entity": "scheme:529900DTKNXL0AXQFN28",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag669": {
"value": "\n
\n\nI.F. Deferred tax liabilities
\nWhen a building is acquired outside of Belgium and the net income is consequently subject to foreign tax, a
\ndeferred tax is recognised on the balance sheet in relation to the unrealised capital gain (temporary difference
\nbetween the fair value and the assessed value used for tax purposes of the building in question).
\n
\n\n\n\n\n
\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForIncomeTaxExplanatory",
"language": "en",
"entity": "scheme:529900DTKNXL0AXQFN28",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag670": {
"value": "\nI.F. Deferred tax liabilities
\nWhen a building is acquired outside of Belgium and the net income is consequently subject to foreign tax, a
\ndeferred tax is recognised on the balance sheet in relation to the unrealised capital gain (temporary difference
\nbetween the fair value and the assessed value used for tax purposes of the building in question).
\n
\n\n\n\n\nNote 18: Tax
\n
\n(x \u20ac1,000)
\n31/12/2023
\nBE DE NL UK FI SE IE ES TOTAL
\nCorporate tax
\n-445
\n-2,417
\n8,417
\n-3,074
\n-114
\n-68
\n-994
\n0
\n1,305
\nExit tax
\n54
\n0
\n0
\n0
\n0
\n0
\n0
\n0
\n54
\nDeferred taxes
\n0
\n5,773
\n19,788
\n-2,438
\n952
\n729
\n-375
\n-169
\n24,260
\nTOTAL TAX
\n-391
\n3,356
\n28,205
\n-5,512
\n838
\n661
\n-1,369
\n-169
\n25,619
\n
\n(x \u20ac1,000)
\n31/12/2022
\nBE
\nDE
\nNL
\nUK
\nFI
\nSE
\nIE
\nES
\nTOTAL
\nCorporate tax
\n-130
\n-3,038
\n-4,468
\n-4,156
\n-81
\n-45
\n-52
\n0
\n-11,970
\nExit tax
\n-330
\n0
\n0
\n0
\n0
\n0
\n0
\n0
\n-330
\nDeferred taxes 0 -12,307 -7,611 -8,758 -11,519 -1,383 -781 -16 -42,375
\nTOTAL TAX
\n-460
\n-15,345
\n-12,079
\n-12,914
\n-11,600
\n-1,428
\n-833
\n-16
\n-54,675
\n
\nTaxes are composed of current taxes, deferred taxes and exit tax.
\nCurrent taxes consist primarily of tax generated abroad, tax on the result of consolidated subsidiaries and, to
\na lesser extent, of Belgian tax on Aedifica\u2019s non-deductible expenditures (since Belgian REITs benefit from a
\nspecific tax regime, leading to the taxation of only non-deductible costs, such as regional taxes, car costs,
\nrepresentation costs, social costs, donations, etc.).
\nFiscal Investment Institutions (\u2018FBI\u2019) in the Netherlands
\nIn September 2022, the Dutch government announced its intention to exclude direct investments in real estate
\nfrom the Fiscal Investment Institutions (Fiscale Beleggingsinstellingen, \u2018FBI\u2019) regime as from 1 January 2024.
\nThe entry into force of this measure was postponed to 1 January 2025. Although Aedifica believed it met the
\nconditions for claiming the FBI regime and submitted applications to the Dutch tax authorities to that effect,
\nthe Group opted as a matter of prudence for a common law tax burden on the results of its Dutch subsidiaries
\nfrom the start of its operations in the Netherlands in 2016. Every year, the Group claimed the application of
\nthis regime for its subsidiaries operating in the Netherlands. At the end of 2022, the Group finally received
\nconfirmation that the FBI requirements were met for the past fiscal years. Aedifica decided to reverse the
\naccrued tax provisions of previous years in the income statement upon receipt of the final corporate tax
\nassessment. During the first half of 2023, final corporate tax assessments and refunds for the period from
\n2016 to 2021 amounting to approx. \u20ac9.0 million were received and recognised in the income statement. The
\nfinal corporate tax assessment for 2022 was received early 2024. The accrued tax provisions for 2022 amount
\nto approx. \u20ac4.2 million. For the year 2023, no provision for corporate income tax has been made in the Dutch
\nsubsidiaries. No provisions will be made for 2024 either.
\nDeferred taxes generally arose from the recognition at fair value of buildings located abroad in conformity
\nwith IAS 40. This deferred tax (with no monetary impact, that is to say, non-cash) is thus excluded from the
\nEPRA Earnings* (see Note 25).
\nAs revenue threshold requirements (as detailed in IAS 12 \u2013 'OECD pillar two model rules') are not met, the
\nGroup is exempt to apply the Pillar two model rules on deferred tax assets and liabilities.
\n
\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfDeferredTaxesExplanatory",
"language": "en",
"entity": "scheme:529900DTKNXL0AXQFN28",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag671": {
"value": "\nII.B/D/E. Current debts
\nDebts are recognised at amortised cost at the year-end date. Debts denominated in foreign currencies are
\nconverted into Euros using the spot rate on the year-end date. Foreign exchange gains or losses arising from
\nthe revaluation of foreign currency borrowings are recognised in the income statement, except for foreign
\nexchange gains and losses relating to the hedging of a foreign net investment, which are recognised directly
\nin other comprehensive income.
\n
\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForBorrowingsExplanatory",
"language": "en",
"entity": "scheme:529900DTKNXL0AXQFN28",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag672": {
"value": "\nAll of Aedifica\u2019s leases are classified as operating leases with Aedifica being the lessor for the following
\nreasons:
\n\u2022 there is no transfer of ownership of the underlying asset at the end of the lease term;
\n\u2022 the lessee does not have the option to purchase the underlying asset at a price that is significantly
\nlower than the fair value;
\n\u2022 the lease term is usually shorter than the asset\u2019s main economic life.
\nLease incentives are recognised on a straight-line basis over the lease term, in accordance with IFRS 16.
\n
\n
\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForLeasesExplanatory",
"language": "en",
"entity": "scheme:529900DTKNXL0AXQFN28",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag673": {
"value": "\nXXV. to XXVI. Corporate tax and exit tax
\nLine XXV includes current and deferred taxes.
\nIncome tax is recognised in the income statement. It is the estimated tax attributable to the taxable income
\nof the year using the tax rate prevailing at the balance sheet date, together with any adjustment to tax liabilities
\nrelating to previous years.
\nWhen a building is acquired outside of Belgium and the net income is consequently subject to foreign tax, a
\ndeferred tax is recognised on the balance sheet in relation to the unrealised capital gain and the unrealised
\nloss (temporary difference between the fair value and the assessed value used for tax purposes of the building
\nin question). Except for the portion relating to items directly recognised in equity, deferred tax is recognised
\nin the income statement.
\nLine XXVI includes the exit tax. This is the tax on the capital gain resulting from the approval of a Belgian
\ncompany as a RREC or the merger of a non-RREC company with a RREC. When a company that does not
\nhave the status of a RREC but is eligible for this regime, enters in the consolidation scope of the Group for
\nthe first time, an exit tax provision is recognised at the company level, taking into account the anticipated
\ndate of the merger or approval. Any adjustment to this exit tax liability is recognised in the income statement.
\nThis tax will be paid when the company is merged into the parent company with RREC status.
\nWhen the merger or approval takes place, the provision becomes a liability and any difference is also
\nrecognised in the income statement.
\nGroup insurance
\nAedifica\u2019s insurance contracts in Belgium are considered as defined contribution plans. These contracts are
\nanalysed in Note 31.
\nHoivatilat\u2019s \u2018equity incentive plan\u2019
\nThe employees of Hoivatilat Oyj benefit from an equity incentive plan, This plan provides the participants with
\nthe opportunity to receive Aedifica shares or a cash equivalent as a reward for achieving the targets of the
\nearnings criteria separately set by the Hoivatilat Board for each earning period.
\nThe Board of Directors will decide separately for each participant the amount of their maximum award for
\neach earning period. The maximum award is expressed as Aedifica shares or equivalent.
\nThe plan foresees 2 parts:
\n\u2022 A number of shares of Hoivatilat Oyj which are converted into Aedifica shares.
\n\u2022 A cash contribution used to cover the applicable taxes and other charges.
\nAedifica has the choice between delivering new or existing Aedifica shares or a cash settlement.
\nFollowing the recommendations of IFRS 2, amounts related to the equity incentive plan are recognised in
\nequity against the income statement in the consolidated accounts.
\n
\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForTaxesOtherThanIncomeTaxExplanatory",
"language": "en",
"entity": "scheme:529900DTKNXL0AXQFN28",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag674": {
"value": "Belgium",
"dimensions": {
"concept": "ifrs-full:PrincipalPlaceOfBusiness",
"language": "en",
"entity": "scheme:529900DTKNXL0AXQFN28",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag675": {
"value": "\nNote 3: Operating segments
\nNote 3.1: Presented segments
\nIn light of the divestments that were carried out in the course of the 2018/2019 financial year and Aedifica's
\nstrategic focus on healthcare real estate, it was decided to revise the segmented information of the
\noperational results. Since the financial year that started on 1 July 2019, the classification is based on
\ngeographical criteria. This segmentation is aligned with the geographical markets in which Aedifica operates
\nand is consistent with the Group's organisational structure and internal reporting. This approach, in line with
\nIFRS 8, reflects the basis on which management makes key operational decisions.
\nThe accounting policies described in Note 2 were used for the internal reporting and the segment reporting
\nthat follows.
\nAccording to IFRS 8, each group of entities falling under common control is treated as a single customer.
\nDisclosure is mandated for revenues generated through transactions with a single customer that represents
\nmore than 10% of the company's total revenues. This requirement is applicable to:
\n\u2022 the 51 properties (in the segments \u2018Belgium\u2019, \u2018Netherlands\u2019 and \u2018Germany\u2019) rented out to legal entities
\ncontrolled by the Clariane group (formerly known as the Korian group), whose rents represent 10% of
\nthe Company\u2019s total 2023 rental income (11% in the prior financial year).
\nRents mentioned here represent the turnover realised by the Company over the course of the financial year
\naccounted for in accordance with IFRS standards. This differs from the contractual rent, which represents the
\nyearly rent as mentioned in the contract and does not take into consideration the straight-lining of lease
\nincentives.
\n
\n
\n\n\n\nNote 3.2: Segment information
\n
\n(x \u20ac1,000)
\n31/12/2023
\nBE DE NL UK FI SE IE ES Non-
\nallocated
\nTOTAL
\nSEGMENT RESULT
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nI.
\nRental income
\n73,250
\n61,160
\n38,203
\n64,793
\n54,269
\n4,226
\n18,006
\n267
\n-
\n314,174
\nII.
\nWriteback of lease payments sold and discounted
\n-
\n-
\n-
\n-
\n-
\n-
\n-
\n-
\n-
\n-
\nIII.
\nRental-related charges
\n-550
\n-191
\n-17
\n-354
\n-22
\n-
\n-
\n-
\n-
\n-1,134
\nNet rental income
\n72,700
\n60,969
\n38,186
\n64,439
\n54,247
\n4,226
\n18,006
\n267
\n-
\n313,040
\nIV. Recovery of property charges - - - - - - - - - -
\nV.
\nRecovery of rental charges and taxes normally paid by tenants on let properties
\n295
\n2,975
\n1,073
\n674
\n1,769
\n102
\n305
\n-
\n-
\n7,193
\nVI.
\nCosts payable by the tenant and borne by the landlord on rental damage and repair
\nat end of lease
\n-
\n-
\n-
\n-
\n-
\n-
\n-
\n-
\n-
\n-
\nVII.
\nCharges and taxes not recovered by the tenant on let properties
\n-299
\n-2,985
\n-1,031
\n-678
\n-1,807
\n-100
\n-305
\n-
\n-
\n-7,205
\nVIII.
\nOther rental-related income and charges
\n-5
\n-4
\n-80
\n-1
\n40
\n-41
\n1
\n-
\n-
\n-90
\nProperty result
\n72,691
\n60,955
\n38,148
\n64,434
\n54,249
\n4,187
\n18,007
\n267
\n-
\n312,938
\nIX.
\nTechnical costs
\n-375
\n-936
\n-733
\n-226
\n-589
\n-286
\n-24
\n-
\n-
\n-3,169
\nX. Commercial costs - - -58 - - - - - - -58
\nXI.
\nCharges and taxes on unlet properties
\n-1
\n-5
\n-23
\n-3
\n-82
\n-
\n-
\n-
\n-
\n-114
\nXII.
\nProperty management costs
\n-809
\n-1,555
\n-1,215
\n-2,447
\n-4
\n-117
\n-226
\n-79
\n-
\n-6,452
\nXIII.
\nOther property charges
\n-199
\n-2
\n-326
\n-
\n-897
\n-
\n-
\n-
\n-
\n-1,424
\nProperty charges
\n-1,384
\n-2,498
\n-2,355
\n-2,676
\n-1,572
\n-403
\n-250
\n-79
\n-
\n-11,217
\nProperty operating result
\n71,307
\n58,457
\n35,793
\n61,758
\n52,677
\n3,784
\n17,757
\n188
\n-
\n301,721
\nXIV.
\nOverheads
\n-
\n-
\n-
\n-
\n-
\n-
\n-
\n-
\n-35,740
\n-35,740
\nXV.
\nOther operating income and charges
\n-
\n-
\n-
\n-
\n-
\n-
\n-
\n-
\n-171
\n-171
\nOPERATING RESULT BEFORE RESULT ON PORTFOLIO 71,307 58,457 35,793 61,758 52,677 3,784 17,757 188 -35,911 265,810
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nSEGMENT ASSETS
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nMarketable investment properties
\n1,224,306
\n1,145,874
\n651,180
\n1,010,674
\n1,027,080
\n74,788
\n393,084
\n2,578
\n-
\n5,529,564
\nDevelopment projects
\n5,285
\n29,016
\n6,450
\n16,476
\n69,890
\n15,035
\n19,601
\n7,197
\n-
\n168,950
\nRight of use of plots of land
\n-
\n3,385
\n-
\n-
\n69,787
\n-
\n-
\n-
\n-
\n73,172
\nLand reserve
\n3,358
\n8,790
\n1,880
\n-
\n430
\n592
\n1,120
\n2,500
\n-
\n18,671
\nInvestment properties
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n5,790,357
\nAssets classified as held for sale 11,612 11,420 - 35,126 - - - - - 58,158
\nOther assets \u00b9
\n35,491
\n-
\n494
\n-
\n117,597
\n-
\n-
\n-
\n174,714
\n328,296
\nTotal assets
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n6,176,811
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nEquity
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nEquity attributable to owners of the parent
\n-
\n-
\n-
\n-
\n-
\n-
\n-
\n-
\n3,575,862
\n3,575,862
\nNon-controlling interests
\n-
\n-
\n-
\n-
\n-
\n-
\n-
\n-
\n5,039
\n5,039
\nLiabilities
\n-
\n-
\n-
\n-
\n-
\n-
\n-
\n-
\n2,595,910
\n2,595,910
\nTotal equity and liabilities
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n6,176,811
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nGROSS YIELD IN FAIR VALUE \u00b2
\n5.7%
\n5.4%
\n6.2%
\n6.4%
\n5.8%
\n6.1%
\n5.6%
\n-
\n-
\n5.8%
\n
\n1. The figures in Belgium and the Netherlands relate to investments accounted for using the equity method (see Note 17 for more details) and the figure in Finland relates to goodwill (see Note 20 for more details). The \u2018Non-allocated\u2019 section includes all
\nother lines of the assets.
\n2. The gross yield in fair value is calculated by dividing the contractual rent by the fair value of marketable investment properties and assets classified as held for sale.
\n
\n\n\n\n\n\n(x \u20ac1,000)
\n31/12/2022
\nBE DE NL UK FI SE IE ES Non-
\nallocated
\nTOTAL
\nSEGMENT RESULT
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nI.
\nRental income
\n67,432
\n56,738
\n33,571
\n57,472
\n44,725
\n3,917
\n9,245
\n32
\n-
\n273,132
\nII.
\nWriteback of lease payments sold and discounted
\n-
\n-
\n-
\n-
\n-
\n-
\n-
\n-
\n-
\n-
\nIII.
\nRental-related charges
\n-352
\n-369
\n-687
\n-148
\n-30
\n-3
\n-
\n-
\n-
\n-1,589
\nNet rental income
\n67,080
\n56,369
\n32,884
\n57,324
\n44,695
\n3,914
\n9,245
\n32
\n-
\n271,543
\nIV. Recovery of property charges - - - - - - - - - -
\nV.
\nRecovery of rental charges and taxes normally paid by tenants on let properties
\n229
\n2,397
\n679
\n420
\n-
\n27
\n182
\n-
\n-
\n3,934
\nVI.
\nCosts payable by the tenant and borne by the landlord on rental damage and
\nrepair at end of lease
\n-
\n-
\n-
\n-
\n-
\n-
\n-
\n-
\n-
\n-
\nVII.
\nCharges and taxes not recovered by the tenant on let properties
\n-250
\n-2,425
\n-675
\n-420
\n-
\n-27
\n-182
\n-
\n-
\n-3,979
\nVIII.
\nOther rental-related income and charges
\n33
\n-46
\n40
\n-6
\n485
\n-151
\n-
\n-
\n-
\n355
\nProperty result
\n67,092
\n56,295
\n32,928
\n57,318
\n45,180
\n3,763
\n9,245
\n32
\n-
\n271,853
\nIX.
\nTechnical costs
\n-97
\n-184
\n-855
\n-159
\n-1,673
\n-328
\n-77
\n-
\n-
\n-3,373
\nX. Commercial costs - - -29 - - - - - - -29
\nXI.
\nCharges and taxes on unlet properties
\n-4
\n-1
\n-
\n-8
\n-40
\n-
\n-
\n-
\n-
\n-53
\nXII.
\nProperty management costs
\n-543
\n-1,367
\n-893
\n-1,791
\n-
\n-
\n-61
\n-
\n-
\n-4,655
\nXIII.
\nOther property charges
\n0
\n2
\n-268
\n-1
\n-843
\n-
\n-
\n-
\n-
\n-1,110
\nProperty charges
\n-644
\n-1,550
\n-2,045
\n-1,959
\n-2,556
\n-328
\n-138
\n-
\n-
\n-9,220
\nProperty operating result
\n66,448
\n54,745
\n30,883
\n55,359
\n42,624
\n3,435
\n9,107
\n32
\n-
\n262,633
\nXIV.
\nOverheads
\n-
\n-
\n-
\n-
\n-
\n-
\n-
\n-
\n-33,556
\n-33,556
\nXV.
\nOther operating income and charges
\n-
\n-
\n-
\n-
\n-
\n-
\n-
\n-
\n597
\n597
\nOPERATING RESULT BEFORE RESULT ON PORTFOLIO 66,448 54,745 30,883 55,359 42,624 3,435 9,107 32 -32,959 229,674
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nSEGMENT ASSETS
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nMarketable investment properties
\n1,287,193
\n1,159,206
\n640,102
\n926,264
\n984,800
\n76,880
\n289,126
\n1,500
\n-
\n5,365,071
\nDevelopment projects
\n3,548
\n34,631
\n14,838
\n34,347
\n31,777
\n2,130
\n59,544
\n3,480
\n-
\n184,295
\nRight of use of plots of land
\n-
\n3,241
\n-
\n-
\n67,094
\n-
\n-
\n-
\n-
\n70,335
\nInvestment properties
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n5,619,701
\nAssets classified as held for sale
\n12,197
\n38,360
\n-
\n33,476
\n-
\n-
\n-
\n-
\n-
\n84,033
\nOther assets \u00b9 40,390 - 493 -59 143,669 - - - 197,313 381,806
\nTotal assets
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n6,085,540
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nEquity
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nEquity attributable to owners of the parent
\n-
\n-
\n-
\n-
\n-
\n-
\n-
\n-
\n3,282,785
\n3,282,785
\nNon-controlling interests
\n-
\n-
\n-
\n-
\n-
\n-
\n-
\n-
\n6,564
\n6,564
\nLiabilities
\n-
\n-
\n-
\n-
\n-
\n-
\n-
\n-
\n2,796,191
\n2,796,191
\nTotal equity and liabilities
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n6,085,540
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nGROSS YIELD IN FAIR VALUE \u00b2
\n5.5%
\n5.1%
\n5.6%
\n6.4%
\n5.3%
\n5.0%
\n5.3%
\n-
\n-
\n5.5%
\n
\n1. The figures in Belgium, the Netherlands and the United Kingdom relate to investments accounted for using the equity method (see Note 17 for more details) and the figure in Finland relates to goodwill (see Note 20 for more details). The \u2018Non-allocated\u2019
\nsection includes all other lines of the assets.
\n2. The gross yield in fair value is calculated by dividing the contractual rent by the fair value of marketable investment properties and assets classified as held for sale.
\n
\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfEntitysReportableSegmentsExplanatory",
"language": "en",
"entity": "scheme:529900DTKNXL0AXQFN28",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag676": {
"value": "\n
\n\n
\n\nNote 4: Net rental income
\n
\n(x \u20ac1,000)
\n31/12/2023
\n31/12/2022
\nRents earned
\n313,597
\n273,104
\nGuaranteed income 0 0
\nCost of rent free periods
\n0
\n0
\nIndemnities for early termination of rental contracts
\n577
\n28
\nRENTAL INCOME
\n314,174
\n273,132
\nRents payable as lessee
\n0
\n-2
\nWrite-downs on trade receivables
\n-362
\n-1,518
\nWrite-off on trade receivables
\n-772
\n-69
\nRENTAL-RELATED CHARGES
\n-1,134
\n-1,589
\nNET RENTAL INCOME 313,040 271,543
\n
\nThe Group leases its buildings exclusively through operating leases.
\nAlthough the lease terms are generally long, the leases are not classified as financial leases due to the
\nfollowing reasons:
\n\u2022 there is no transfer of ownership of the underlying asset at the end of the lease term;
\n\u2022 the lessee does not have the option to purchase the underlying asset at a price that is significantly
\nlower than the fair value;
\n\u2022 the lease term is usually shorter than the asset\u2019s main economic life.
\nFor these three reasons, the leases are classified as operating leases. From these operating leases, more
\nthan 99% are income related to fixed lease payments.
\nThe increase in earned rents compared to the previous period is attributed to the growth of the portfolio during
\nthe 2023 financial year and annual indexation.
\nThe schedule of future minimum lease payments to be collected under non-cancellable operating leases
\nrequired by IFRS 16.97 is based on the following assumptions, which are conservative:
\n\u2022 long-term leases: no inflation;
\n\u2022 rents in foreign currencies in the United-Kingdom and Sweden are converted according to the 2023
\naverage exchange rate, 0.86969 \u20ac/\u00a3 and 11.47425 \u20ac/SEK, respectively.
\n
\nFuture minimum lease payments to be collected under non-cancellable operating leases are presented as
\nfollows:
\n(x \u20ac1,000)
\n31/12/2023
\n31/12/2022
\nNot later than one year
\n324,277
\n303,079
\nBetween one and two years
\n323,945
\n302,301
\nBetween two and three years
\n323,795
\n301,602
\nBetween three and four years 323,795 301,442
\nBetween four and five years
\n322,266
\n301,442
\nLater than five years
\n4,631,577
\n4,505,080
\nTOTAL
\n6,249,654
\n6,014,946
\n
\nRental income includes variable rents amounting to \u20ac1,187 k in 2023 (31 December 2022: \u20ac366 k).
\nThe write-down/write-off of rental income is mainly explained by the difficult economic environment in which
\noperators had to face increasing energy and labor costs (\u20ac1.1 million in 2023 and \u20ac1.6 million in 2022).
\n
\n\n\n\n
\n\n\n\n
\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfRevenueExplanatory",
"language": "en",
"entity": "scheme:529900DTKNXL0AXQFN28",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag677": {
"value": "\n
\n\nNote 4: Net rental income
\n
\n(x \u20ac1,000)
\n31/12/2023
\n31/12/2022
\nRents earned
\n313,597
\n273,104
\nGuaranteed income 0 0
\nCost of rent free periods
\n0
\n0
\nIndemnities for early termination of rental contracts
\n577
\n28
\nRENTAL INCOME
\n314,174
\n273,132
\nRents payable as lessee
\n0
\n-2
\nWrite-downs on trade receivables
\n-362
\n-1,518
\nWrite-off on trade receivables
\n-772
\n-69
\nRENTAL-RELATED CHARGES
\n-1,134
\n-1,589
\nNET RENTAL INCOME 313,040 271,543
\n
\nThe Group leases its buildings exclusively through operating leases.
\nAlthough the lease terms are generally long, the leases are not classified as financial leases due to the
\nfollowing reasons:
\n\u2022 there is no transfer of ownership of the underlying asset at the end of the lease term;
\n\u2022 the lessee does not have the option to purchase the underlying asset at a price that is significantly
\nlower than the fair value;
\n\u2022 the lease term is usually shorter than the asset\u2019s main economic life.
\nFor these three reasons, the leases are classified as operating leases. From these operating leases, more
\nthan 99% are income related to fixed lease payments.
\nThe increase in earned rents compared to the previous period is attributed to the growth of the portfolio during
\nthe 2023 financial year and annual indexation.
\nThe schedule of future minimum lease payments to be collected under non-cancellable operating leases
\nrequired by IFRS 16.97 is based on the following assumptions, which are conservative:
\n\u2022 long-term leases: no inflation;
\n\u2022 rents in foreign currencies in the United-Kingdom and Sweden are converted according to the 2023
\naverage exchange rate, 0.86969 \u20ac/\u00a3 and 11.47425 \u20ac/SEK, respectively.
\n
\nFuture minimum lease payments to be collected under non-cancellable operating leases are presented as
\nfollows:
\n(x \u20ac1,000)
\n31/12/2023
\n31/12/2022
\nNot later than one year
\n324,277
\n303,079
\nBetween one and two years
\n323,945
\n302,301
\nBetween two and three years
\n323,795
\n301,602
\nBetween three and four years 323,795 301,442
\nBetween four and five years
\n322,266
\n301,442
\nLater than five years
\n4,631,577
\n4,505,080
\nTOTAL
\n6,249,654
\n6,014,946
\n
\nRental income includes variable rents amounting to \u20ac1,187 k in 2023 (31 December 2022: \u20ac366 k).
\nThe write-down/write-off of rental income is mainly explained by the difficult economic environment in which
\noperators had to face increasing energy and labor costs (\u20ac1.1 million in 2023 and \u20ac1.6 million in 2022).
\n
\n\n\n\n
\n\n\n",
"dimensions": {
"concept": "aed:DisclosureOfNetRentalIncomeExplanatory",
"language": "en",
"entity": "scheme:529900DTKNXL0AXQFN28",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag678": {
"value": "\nNote 4: Net rental income
\n
\n(x \u20ac1,000)
\n31/12/2023
\n31/12/2022
\nRents earned
\n313,597
\n273,104
\nGuaranteed income 0 0
\nCost of rent free periods
\n0
\n0
\nIndemnities for early termination of rental contracts
\n577
\n28
\nRENTAL INCOME
\n314,174
\n273,132
\nRents payable as lessee
\n0
\n-2
\nWrite-downs on trade receivables
\n-362
\n-1,518
\nWrite-off on trade receivables
\n-772
\n-69
\nRENTAL-RELATED CHARGES
\n-1,134
\n-1,589
\nNET RENTAL INCOME 313,040 271,543
\n
\nThe Group leases its buildings exclusively through operating leases.
\nAlthough the lease terms are generally long, the leases are not classified as financial leases due to the
\nfollowing reasons:
\n\u2022 there is no transfer of ownership of the underlying asset at the end of the lease term;
\n\u2022 the lessee does not have the option to purchase the underlying asset at a price that is significantly
\nlower than the fair value;
\n\u2022 the lease term is usually shorter than the asset\u2019s main economic life.
\nFor these three reasons, the leases are classified as operating leases. From these operating leases, more
\nthan 99% are income related to fixed lease payments.
\nThe increase in earned rents compared to the previous period is attributed to the growth of the portfolio during
\nthe 2023 financial year and annual indexation.
\nThe schedule of future minimum lease payments to be collected under non-cancellable operating leases
\nrequired by IFRS 16.97 is based on the following assumptions, which are conservative:
\n\u2022 long-term leases: no inflation;
\n\u2022 rents in foreign currencies in the United-Kingdom and Sweden are converted according to the 2023
\naverage exchange rate, 0.86969 \u20ac/\u00a3 and 11.47425 \u20ac/SEK, respectively.
\n
\nFuture minimum lease payments to be collected under non-cancellable operating leases are presented as
\nfollows:
\n(x \u20ac1,000)
\n31/12/2023
\n31/12/2022
\nNot later than one year
\n324,277
\n303,079
\nBetween one and two years
\n323,945
\n302,301
\nBetween two and three years
\n323,795
\n301,602
\nBetween three and four years 323,795 301,442
\nBetween four and five years
\n322,266
\n301,442
\nLater than five years
\n4,631,577
\n4,505,080
\nTOTAL
\n6,249,654
\n6,014,946
\n
\nRental income includes variable rents amounting to \u20ac1,187 k in 2023 (31 December 2022: \u20ac366 k).
\nThe write-down/write-off of rental income is mainly explained by the difficult economic environment in which
\noperators had to face increasing energy and labor costs (\u20ac1.1 million in 2023 and \u20ac1.6 million in 2022).
\n
\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfLeasesExplanatory",
"language": "en",
"entity": "scheme:529900DTKNXL0AXQFN28",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag679": {
"value": "\n
\n\nNote 5: Property result
\n
\n(x \u20ac1,000)
\n31/12/2023
\n31/12/2022
\nNET RENTAL INCOME
\n313,040
\n271,543
\nIndemnities on rental damage 0 0
\nRECOVERY OF PROPERTY CHARGES
\n0
\n0
\nRebilling of rental charges invoiced to the landlord
\n1,530
\n566
\nRebilling of property taxes and other taxes on let properties
\n5,663
\n3,368
\nRECOVERY OF RENTAL CHARGES AND TAXES NORMALLY PAID BY
\nTENANTS ON LET PROPERTIES
\n7,193
\n3,934
\nCOSTS PAYABLE BY THE TENANT AND BORNE BY THE LANDLORD
\nON RENTAL DAMAGE AND REPAIR AT END OF LEASE
\n0 0
\nRental charges invoiced to the landlord -1,475 -572
\nProperty taxes and other taxes on let properties
\n-5,730
\n-3,407
\nCHARGES AND TAXES NOT RECOVERED BY THE TENANT ON LET
\nPROPERTIES
\n-7,205
\n-3,979
\nCleaning
\n-133
\n-79
\nEnergy
\n-1,418
\n-583
\nDepreciation of furniture
\n0
\n0
\nOther
\n1,461
\n1,017
\nOTHER RENTAL-RELATED INCOME AND CHARGES -90 355
\nPROPERTY RESULT
\n312,938
\n271,853
\n
\n\n\n\n\n\n
\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfProfitLossFromOperatingActivitiesExplanatory",
"language": "en",
"entity": "scheme:529900DTKNXL0AXQFN28",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag680": {
"value": "\nNote 5: Property result
\n
\n(x \u20ac1,000)
\n31/12/2023
\n31/12/2022
\nNET RENTAL INCOME
\n313,040
\n271,543
\nIndemnities on rental damage 0 0
\nRECOVERY OF PROPERTY CHARGES
\n0
\n0
\nRebilling of rental charges invoiced to the landlord
\n1,530
\n566
\nRebilling of property taxes and other taxes on let properties
\n5,663
\n3,368
\nRECOVERY OF RENTAL CHARGES AND TAXES NORMALLY PAID BY
\nTENANTS ON LET PROPERTIES
\n7,193
\n3,934
\nCOSTS PAYABLE BY THE TENANT AND BORNE BY THE LANDLORD
\nON RENTAL DAMAGE AND REPAIR AT END OF LEASE
\n0 0
\nRental charges invoiced to the landlord -1,475 -572
\nProperty taxes and other taxes on let properties
\n-5,730
\n-3,407
\nCHARGES AND TAXES NOT RECOVERED BY THE TENANT ON LET
\nPROPERTIES
\n-7,205
\n-3,979
\nCleaning
\n-133
\n-79
\nEnergy
\n-1,418
\n-583
\nDepreciation of furniture
\n0
\n0
\nOther
\n1,461
\n1,017
\nOTHER RENTAL-RELATED INCOME AND CHARGES -90 355
\nPROPERTY RESULT
\n312,938
\n271,853
\n
\n\n\n\n\n",
"dimensions": {
"concept": "aed:DisclosureOfPropertyResultExplanatory",
"language": "en",
"entity": "scheme:529900DTKNXL0AXQFN28",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag681": {
"value": "\nNote 6: Property operating result
\n
\n(x \u20ac1,000)
\n31/12/2023
\n31/12/2022
\nPROPERTY RESULT
\n312,938
\n271,853
\nRepair and maintenance -1,655 -2,609
\nInsurance
\n-459
\n-156
\nEmployee benefits
\n42
\n41
\nExpert fees
\n-1,097
\n-649
\nTECHNICAL COSTS
\n-3,169
\n-3,373
\nLetting fees paid to real estate brokers
\n0
\n0
\nMarketing
\n0
\n0
\nFees paid to lawyers and other legal costs
\n0
\n0
\nOther -58 -29
\nCOMMERCIAL COSTS
\n-58
\n-29
\nCharges
\n-114
\n-53
\nCHARGES AND TAXES ON UNLET PROPERTIES
\n-114
\n-53
\nFees paid to external property managers
\n-257
\n-25
\nInternal property management expenses
\n-6,195
\n-4,630
\nPROPERTY MANAGEMENT COSTS
\n-6,452
\n-4,655
\nProperty taxes and other taxes
\n-1,424
\n-1,110
\nOTHER PROPERTY CHARGES -1,424 -1,110
\nPROPERTY OPERATING RESULT
\n301,721
\n262,633
\n
\nThe increase in internal property management expenses is a result of the overall growth of the Company.
\n
\n\n\n",
"dimensions": {
"concept": "aed:DisclosureOfPropertyOperatingResultExplanatory",
"language": "en",
"entity": "scheme:529900DTKNXL0AXQFN28",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag682": {
"value": "\n
\n
\n
\nNote 7: Overheads
\n
\n(x \u20ac1,000)
\n31/12/2023
\n31/12/2022
\nLawyers/notaries
\n-1,889
\n-1,195
\nAuditors/accountants -953 -677
\nReal estate experts
\n-1,917
\n-1,675
\nIT
\n-1,710
\n-1,523
\nInsurance
\n-787
\n-149
\nPublic relations, communication, marketing, publicity
\n-720
\n-1,026
\nDirectors and executive management
\n-4,421
\n-4,687
\nEmployee benefits
\n-11,455
\n-11,322
\nDepreciation and amortisation of other assets
\n-2,180
\n-1,868
\nTax expense -1,451 -2,053
\nTax consulting
\n-2,758
\n-1,295
\nHeadhunter and recruitment costs
\n-290
\n-734
\nTravel and representation
\n-563
\n-588
\nOther
\n-4,646
\n-4,764
\nFinancial services
\n-617
\n-624
\nFleet
\n-561
\n-446
\nOffice charges payable as lessee \u00b9
\n-727
\n-735
\nCommunication equipment/subscriptions \u00b9 -176 -174
\nTraining \u00b9
\n-356
\n-179
\nOffice supplies
\n-250
\n-335
\nOther professional fees
\n-2,391
\n-2,229
\nOther
\n432
\n-42
\nTOTAL
\n-35,740
\n-33,556
\n
\n1. These lines were previously part of the \u2018Office supplies\u2019 line.
\n
\nThe increase in tax consulting costs is mainly due to the costs incurred for the transfer of the UK entities to
\nthe UK REIT regime.
\n
\n\nAudit fees
\n(x \u20ac1,000)
\n31/12/2023
\n31/12/2022
\nStatutory audit (Aedifica NV/SA) 129 131
\nStatutory audit (subsidiaries)
\n639
\n295
\nOpinion reports foreseen in the Belgian Companies and Associations Code
\n64
\n14
\nOther opinion reports (comfort letter, etc.)
\n2
\n8
\nTax advice missions
\n0
\n0
\nOther missions unconnected with the statutory audit
\n14
\n0
\nTOTAL
\n848
\n448
\n
\n\n\n\n
\n
\n\n
\n\n
\n\nRelated party transactions
\n(x \u20ac1,000)
\n31/12/2023
\n31/12/2022
\nShort-term benefits
\n4,150
\n4,351
\nPost-employment benefits 271 261
\nOther long-term benefits
\n0
\n0
\nTermination benfits
\n0
\n0
\nShare-based payments
\n0
\n75
\nTOTAL
\n4,421
\n4,687
\n
\nRelated party transactions (as defined under IAS 24 and the Belgian Companies and Associations Code)
\nrelate exclusively to the remuneration of the members of the Board of Directors and the Executive Committee
\n(\u20ac4,421 k in 2023; \u20ac4,687 k in 2022).
\n
\n\n\n\n
\n\n\n\n
\n\n\n\n
\n\n
\nEmployee benefits expense
\nTotal employee benefits (excluding Executive Managers and Directors \u2013 see \u2018Related party transactions\u2019
\nabove) are broken down in the income statement as follows:
\n(x \u20ac1,000)
\n31/12/2023 31/12/2022
\nTechnical costs (see Note 6)
\n42
\n41
\nOverheads (see Note 7)
\n-11.455
\n-11.322
\nProperty management costs (see Note 6)
\n-6.195
\n-4.630
\nCapitalised costs
\n-566
\n-422
\nTOTAL
\n-18.174
\n-16.333
\n
\n\nHeadcount at the end of the financial year and full-time equivalents (excluding Executive Directors):
\n(x \u20ac1,000)
\n31/12/2023
\n31/12/2022
\nHeadcount at the year-end
\n127
\n126
\nEmployees
\n122
\n121
\nExecutive management personnel
\n5
\n5
\nFULL-TIME EQUIVALENT (EXCL. EXECUTIVE MANAGEMENT
\nPERSONNEL) DURING THE YEAR
\n120.0 109.3
\n
\nThe increase in employees reflects the Group\u2019s international growth.
\n
\n\n\n\n
\n\n\n\n
\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfGeneralAndAdministrativeExpenseExplanatory",
"language": "en",
"entity": "scheme:529900DTKNXL0AXQFN28",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag683": {
"value": "\nAudit fees
\n(x \u20ac1,000)
\n31/12/2023
\n31/12/2022
\nStatutory audit (Aedifica NV/SA) 129 131
\nStatutory audit (subsidiaries)
\n639
\n295
\nOpinion reports foreseen in the Belgian Companies and Associations Code
\n64
\n14
\nOther opinion reports (comfort letter, etc.)
\n2
\n8
\nTax advice missions
\n0
\n0
\nOther missions unconnected with the statutory audit
\n14
\n0
\nTOTAL
\n848
\n448
\n
\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfAuditorsRemunerationExplanatory",
"language": "en",
"entity": "scheme:529900DTKNXL0AXQFN28",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag684": {
"value": "\n
\n\n
\n\nRelated party transactions
\n(x \u20ac1,000)
\n31/12/2023
\n31/12/2022
\nShort-term benefits
\n4,150
\n4,351
\nPost-employment benefits 271 261
\nOther long-term benefits
\n0
\n0
\nTermination benfits
\n0
\n0
\nShare-based payments
\n0
\n75
\nTOTAL
\n4,421
\n4,687
\n
\nRelated party transactions (as defined under IAS 24 and the Belgian Companies and Associations Code)
\nrelate exclusively to the remuneration of the members of the Board of Directors and the Executive Committee
\n(\u20ac4,421 k in 2023; \u20ac4,687 k in 2022).
\n
\n\n\n\n
\n\n\n\n
\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfRelatedPartyExplanatory",
"language": "en",
"entity": "scheme:529900DTKNXL0AXQFN28",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag685": {
"value": "\n
\n\nRelated party transactions
\n(x \u20ac1,000)
\n31/12/2023
\n31/12/2022
\nShort-term benefits
\n4,150
\n4,351
\nPost-employment benefits 271 261
\nOther long-term benefits
\n0
\n0
\nTermination benfits
\n0
\n0
\nShare-based payments
\n0
\n75
\nTOTAL
\n4,421
\n4,687
\n
\nRelated party transactions (as defined under IAS 24 and the Belgian Companies and Associations Code)
\nrelate exclusively to the remuneration of the members of the Board of Directors and the Executive Committee
\n(\u20ac4,421 k in 2023; \u20ac4,687 k in 2022).
\n
\n\n\n\n
\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfSharebasedPaymentArrangementsExplanatory",
"language": "en",
"entity": "scheme:529900DTKNXL0AXQFN28",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag686": {
"value": "\nRelated party transactions
\n(x \u20ac1,000)
\n31/12/2023
\n31/12/2022
\nShort-term benefits
\n4,150
\n4,351
\nPost-employment benefits 271 261
\nOther long-term benefits
\n0
\n0
\nTermination benfits
\n0
\n0
\nShare-based payments
\n0
\n75
\nTOTAL
\n4,421
\n4,687
\n
\nRelated party transactions (as defined under IAS 24 and the Belgian Companies and Associations Code)
\nrelate exclusively to the remuneration of the members of the Board of Directors and the Executive Committee
\n(\u20ac4,421 k in 2023; \u20ac4,687 k in 2022).
\n
\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfInformationAboutKeyManagementPersonnelExplanatory",
"language": "en",
"entity": "scheme:529900DTKNXL0AXQFN28",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag687": {
"value": "\n
\nEmployee benefits expense
\nTotal employee benefits (excluding Executive Managers and Directors \u2013 see \u2018Related party transactions\u2019
\nabove) are broken down in the income statement as follows:
\n(x \u20ac1,000)
\n31/12/2023 31/12/2022
\nTechnical costs (see Note 6)
\n42
\n41
\nOverheads (see Note 7)
\n-11.455
\n-11.322
\nProperty management costs (see Note 6)
\n-6.195
\n-4.630
\nCapitalised costs
\n-566
\n-422
\nTOTAL
\n-18.174
\n-16.333
\n
\n\nHeadcount at the end of the financial year and full-time equivalents (excluding Executive Directors):
\n(x \u20ac1,000)
\n31/12/2023
\n31/12/2022
\nHeadcount at the year-end
\n127
\n126
\nEmployees
\n122
\n121
\nExecutive management personnel
\n5
\n5
\nFULL-TIME EQUIVALENT (EXCL. EXECUTIVE MANAGEMENT
\nPERSONNEL) DURING THE YEAR
\n120.0 109.3
\n
\nThe increase in employees reflects the Group\u2019s international growth.
\n
\n\n\n\n
\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfEmployeeBenefitsExplanatory",
"language": "en",
"entity": "scheme:529900DTKNXL0AXQFN28",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag688": {
"value": "\nHeadcount at the end of the financial year and full-time equivalents (excluding Executive Directors):
\n(x \u20ac1,000)
\n31/12/2023
\n31/12/2022
\nHeadcount at the year-end
\n127
\n126
\nEmployees
\n122
\n121
\nExecutive management personnel
\n5
\n5
\nFULL-TIME EQUIVALENT (EXCL. EXECUTIVE MANAGEMENT
\nPERSONNEL) DURING THE YEAR
\n120.0 109.3
\n
\nThe increase in employees reflects the Group\u2019s international growth.
\n
\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfInformationAboutEmployeesExplanatory",
"language": "en",
"entity": "scheme:529900DTKNXL0AXQFN28",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag689": {
"value": "\n
\n\nNote 8: Other operating income and charges
\n
\n(x \u20ac1,000)
\n31/12/2023
\n31/12/2022
\nRecovery of damage expenses
\n262
\n133
\nOther -433 464
\nTOTAL
\n-171
\n597
\n
\n'Other\u2019 is mainly related to the (non-)recovery of VAT (-\u20ac328 k in 2023; \u20ac467 k in 2022).
\n
\n\n\n\n
\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfOtherOperatingIncomeExpenseExplanatory",
"language": "en",
"entity": "scheme:529900DTKNXL0AXQFN28",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag690": {
"value": "\nNote 8: Other operating income and charges
\n
\n(x \u20ac1,000)
\n31/12/2023
\n31/12/2022
\nRecovery of damage expenses
\n262
\n133
\nOther -433 464
\nTOTAL
\n-171
\n597
\n
\n'Other\u2019 is mainly related to the (non-)recovery of VAT (-\u20ac328 k in 2023; \u20ac467 k in 2022).
\n
\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfOtherOperatingExpenseExplanatory",
"language": "en",
"entity": "scheme:529900DTKNXL0AXQFN28",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag691": {
"value": "\nNote 9: Gains and losses on disposals of investment properties
\n
\n(x \u20ac1,000)
\n31/12/2023
\n31/12/2022
\nNet sale of properties (selling price - transaction costs)
\n73,091
\n35,890
\nCarrying amount of properties sold (fair value of assets sold)
\n73,947
\n35,103
\nTOTAL
\n-856
\n787
\n
\nThe main disposals of the financial year are detailed in Note 38.
\nThe net sale of properties includes compensation received from tenants for the loss of fair value related to
\nthe sale of assets, due to the early termination of the lease.
\n
\n\n\n",
"dimensions": {
"concept": "aed:DisclosureOfGainsAndLossesOnDisposalsOfInvestmentPropertiesExplanatory",
"language": "en",
"entity": "scheme:529900DTKNXL0AXQFN28",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag692": {
"value": "\nNote 10: Gains and losses on disposals of other non-financial assets
\nOver the course of the current and previous financial years, Aedifica has not recognised any gains or losses
\nfrom the sale of other non-financial assets.
\n
\n\n\n",
"dimensions": {
"concept": "aed:DisclosureOfGainsAndLossesOnDisposalsOfOtherNonFinancialAssetsExplanatory",
"language": "en",
"entity": "scheme:529900DTKNXL0AXQFN28",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag693": {
"value": "\nNote 11: Changes in fair value of investment properties
\n
\n(x \u20ac1,000)
\n31/12/2023
\n31/12/2022
\nBelgium
\n-27,229
\n18,220
\nGermany -75,259 39,054
\nNetherlands
\n-24,093
\n14,873
\nUnited Kingdom
\n20,854
\n-2,029
\nFinland
\n-12,108
\n34,609
\nSweden
\n-6,834
\n-279
\nIreland
\n-18,465
\n-19,383
\nSpain
\n-502
\n-188
\nTOTAL
\n-143,636
\n84,877
\nOf which:
\n
\n
\nMarketable investment properties
\n-124,135
\n81,851
\nDevelopment projects
\n-14,244
\n4,258
\nRight of use of plots of land
\n-1,367
\n-1,232
\nLand reserve
\n-3,890
\n-
\n
\nIn 2023, the most significant changes are registered in Germany, Belgium, the Netherlands and the United
\nKingdom. These changes are explained as follows:
\n\u2022 Belgium: Prime net yields increased from approx. 4.25% in Q4 2022 to approx. 5% in Q4 2023. The
\ndecreases in value resulting from this yield decompression were only partially offset by rent
\nindexations.
\n\u2022 Germany: Some German operators were confronted with higher costs following increased salary
\ncosts and inflation, putting pressure on their ability to pay rent. The increase in interest rates triggered
\nby inflation also led to a change in the financing environment, resulting in higher yield requirements
\nfor investors.
\n\u2022 Netherlands: The increase in government bond yields has led to an increase in yields. As from
\n1 January 2023, the transfer taxes on real estate transactions increased with 2.4%, affecting the fair
\nvalues.
\n\u2022 United Kingdom: An increase in portfolio valuation was recorded due to the strong operational
\nperformance of tenants, backed by the underlying resident occupancy of 91% for the stabilised
\nportfolio at the end of September and a rising rental coverage.
\nFor more details, see section 1.3 \u2018Market trends\u2019 of the \u2018Portfolio\u2019 chapter.
\n
\n
\n\n\n",
"dimensions": {
"concept": "aed:DisclosureOfChangesInFairValueOfInvestmentPropertiesExplanatory",
"language": "en",
"entity": "scheme:529900DTKNXL0AXQFN28",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag694": {
"value": "\nNote 12: Other result on portfolio
\n
\n(x \u20ac1,000)
\n31/12/2023
\n31/12/2022
\nGoodwill impairment
\n-26,072
\n-18,103
\nOther 0 0
\nTOTAL
\n-26,072
\n-18,103
\n
\nDuring the financial year under review, the Group recognised a goodwill impairment related to the acquisition
\nof Hoivatilat Oyj (see Note 20 for more information).
\n
\n\n\n",
"dimensions": {
"concept": "aed:DisclosureOfOtherResultOnPortfolioExplanatory",
"language": "en",
"entity": "scheme:529900DTKNXL0AXQFN28",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag695": {
"value": "\n
\n\n
\n\n
\n\nNote 13: Financial income
\n
\n(x \u20ac1,000)
\n31/12/2023 31/12/2022
\nReinvoiced interests
\n2,181
\n1,183
\nOther
\n825
\n423
\nTOTAL
\n3,006
\n1,606
\n
\nThe financial income of 2023 mainly includes \u20ac1.2 million of reinvoiced interests (\u20ac1.3 million in 2022) and
\n\u20ac0.9 million of earned interest on loans granted to associated companies (\u20ac0.2 million in 2022). Realised and
\nunrealised foreign exchange differences amount to \u20ac0.4 million in 2023 (\u20ac0.2 million in 2022).
\n
\n\n\n\n
\n\n\n\n
\n\n\n\n
\n\n\n\n
\n\n
\n\n
\n\nNote 14: Net interest charges
\n
\n(x \u20ac1,000)
\n31/12/2023
\n31/12/2022
\nNominal interest on borrowings
\n-76,824
\n-27,617
\nBilateral loans - floating rate -55,060 -14,597
\nShort-term treasury Notes - floating rate
\n-7,892
\n-841
\nInvestment credits - floating or fixed rate
\n-3,338
\n-1,628
\nLong-term treasury Notes - fixed rate
\n-1,394
\n-1,395
\nBond - Fixed rate
\n-3,747
\n-3,750
\nPrivate placement - fixed rate
\n-5,393
\n-5,406
\nCharges arising from authorised hedging instruments
\n
\n
\nAuthorised hedging instruments qualifying for hedge accounting
\nas defined under IFRS
\n-2,126 -4,121
\nAuthorised hedging instruments not qualifying for hedge accounting
\nas defined under IFRS
\n-16,965
\n-5,763
\nSubtotal
\n-19,091
\n-9,884
\nIncome arising from authorised hedging instruments
\n
\n
\nAuthorised hedging instruments qualifying for hedge accounting
\nas defined under IFRS
\n7,528
\n1,071
\nAuthorised hedging instruments not qualifying for hedge accounting
\nas defined under IFRS
\n39,188 3,259
\nSubtotal
\n46,716
\n4,330
\nCapitalised interest charges
\n5,716
\n3,966
\nInterest cost related to leasing debts booked in accordance with IFRS 16
\n-1,393
\n-951
\nOther interest charges
\n-128
\n-495
\nTOTAL
\n-45,004
\n-30,651
\n
\nIn 2023, the high increase in interest on borrowings was partly offset by the increase in income from
\nauthorised hedging instruments and capitalised interest charges.
\nCharges and income arising from hedging instruments represent Aedifica\u2019s cash interest payments or receipts
\nrelated to the derivatives presented in Note 24 and detailed in Note 33. Changes in the fair value of these
\nderivatives are recognised in the income statement and are listed in Note 16.
\n
\n\n\n\n
\n\n\n\n
\n\n\n\n
\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFinanceIncomeExpenseExplanatory",
"language": "en",
"entity": "scheme:529900DTKNXL0AXQFN28",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag696": {
"value": "\n
\n\n
\n\nNote 13: Financial income
\n
\n(x \u20ac1,000)
\n31/12/2023 31/12/2022
\nReinvoiced interests
\n2,181
\n1,183
\nOther
\n825
\n423
\nTOTAL
\n3,006
\n1,606
\n
\nThe financial income of 2023 mainly includes \u20ac1.2 million of reinvoiced interests (\u20ac1.3 million in 2022) and
\n\u20ac0.9 million of earned interest on loans granted to associated companies (\u20ac0.2 million in 2022). Realised and
\nunrealised foreign exchange differences amount to \u20ac0.4 million in 2023 (\u20ac0.2 million in 2022).
\n
\n\n\n\n
\n\n\n\n
\n\n\n\n
\n\n
\n\nNote 14: Net interest charges
\n
\n(x \u20ac1,000)
\n31/12/2023
\n31/12/2022
\nNominal interest on borrowings
\n-76,824
\n-27,617
\nBilateral loans - floating rate -55,060 -14,597
\nShort-term treasury Notes - floating rate
\n-7,892
\n-841
\nInvestment credits - floating or fixed rate
\n-3,338
\n-1,628
\nLong-term treasury Notes - fixed rate
\n-1,394
\n-1,395
\nBond - Fixed rate
\n-3,747
\n-3,750
\nPrivate placement - fixed rate
\n-5,393
\n-5,406
\nCharges arising from authorised hedging instruments
\n
\n
\nAuthorised hedging instruments qualifying for hedge accounting
\nas defined under IFRS
\n-2,126 -4,121
\nAuthorised hedging instruments not qualifying for hedge accounting
\nas defined under IFRS
\n-16,965
\n-5,763
\nSubtotal
\n-19,091
\n-9,884
\nIncome arising from authorised hedging instruments
\n
\n
\nAuthorised hedging instruments qualifying for hedge accounting
\nas defined under IFRS
\n7,528
\n1,071
\nAuthorised hedging instruments not qualifying for hedge accounting
\nas defined under IFRS
\n39,188 3,259
\nSubtotal
\n46,716
\n4,330
\nCapitalised interest charges
\n5,716
\n3,966
\nInterest cost related to leasing debts booked in accordance with IFRS 16
\n-1,393
\n-951
\nOther interest charges
\n-128
\n-495
\nTOTAL
\n-45,004
\n-30,651
\n
\nIn 2023, the high increase in interest on borrowings was partly offset by the increase in income from
\nauthorised hedging instruments and capitalised interest charges.
\nCharges and income arising from hedging instruments represent Aedifica\u2019s cash interest payments or receipts
\nrelated to the derivatives presented in Note 24 and detailed in Note 33. Changes in the fair value of these
\nderivatives are recognised in the income statement and are listed in Note 16.
\n
\n\n\n\n
\n\n\n\n
\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfInterestIncomeExpenseExplanatory",
"language": "en",
"entity": "scheme:529900DTKNXL0AXQFN28",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag697": {
"value": "\n
\n\nNote 13: Financial income
\n
\n(x \u20ac1,000)
\n31/12/2023 31/12/2022
\nReinvoiced interests
\n2,181
\n1,183
\nOther
\n825
\n423
\nTOTAL
\n3,006
\n1,606
\n
\nThe financial income of 2023 mainly includes \u20ac1.2 million of reinvoiced interests (\u20ac1.3 million in 2022) and
\n\u20ac0.9 million of earned interest on loans granted to associated companies (\u20ac0.2 million in 2022). Realised and
\nunrealised foreign exchange differences amount to \u20ac0.4 million in 2023 (\u20ac0.2 million in 2022).
\n
\n\n\n\n
\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFinanceIncomeExplanatory",
"language": "en",
"entity": "scheme:529900DTKNXL0AXQFN28",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag698": {
"value": "\nNote 13: Financial income
\n
\n(x \u20ac1,000)
\n31/12/2023 31/12/2022
\nReinvoiced interests
\n2,181
\n1,183
\nOther
\n825
\n423
\nTOTAL
\n3,006
\n1,606
\n
\nThe financial income of 2023 mainly includes \u20ac1.2 million of reinvoiced interests (\u20ac1.3 million in 2022) and
\n\u20ac0.9 million of earned interest on loans granted to associated companies (\u20ac0.2 million in 2022). Realised and
\nunrealised foreign exchange differences amount to \u20ac0.4 million in 2023 (\u20ac0.2 million in 2022).
\n
\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfInterestIncomeExplanatory",
"language": "en",
"entity": "scheme:529900DTKNXL0AXQFN28",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag699": {
"value": "\n
\n\nNote 14: Net interest charges
\n
\n(x \u20ac1,000)
\n31/12/2023
\n31/12/2022
\nNominal interest on borrowings
\n-76,824
\n-27,617
\nBilateral loans - floating rate -55,060 -14,597
\nShort-term treasury Notes - floating rate
\n-7,892
\n-841
\nInvestment credits - floating or fixed rate
\n-3,338
\n-1,628
\nLong-term treasury Notes - fixed rate
\n-1,394
\n-1,395
\nBond - Fixed rate
\n-3,747
\n-3,750
\nPrivate placement - fixed rate
\n-5,393
\n-5,406
\nCharges arising from authorised hedging instruments
\n
\n
\nAuthorised hedging instruments qualifying for hedge accounting
\nas defined under IFRS
\n-2,126 -4,121
\nAuthorised hedging instruments not qualifying for hedge accounting
\nas defined under IFRS
\n-16,965
\n-5,763
\nSubtotal
\n-19,091
\n-9,884
\nIncome arising from authorised hedging instruments
\n
\n
\nAuthorised hedging instruments qualifying for hedge accounting
\nas defined under IFRS
\n7,528
\n1,071
\nAuthorised hedging instruments not qualifying for hedge accounting
\nas defined under IFRS
\n39,188 3,259
\nSubtotal
\n46,716
\n4,330
\nCapitalised interest charges
\n5,716
\n3,966
\nInterest cost related to leasing debts booked in accordance with IFRS 16
\n-1,393
\n-951
\nOther interest charges
\n-128
\n-495
\nTOTAL
\n-45,004
\n-30,651
\n
\nIn 2023, the high increase in interest on borrowings was partly offset by the increase in income from
\nauthorised hedging instruments and capitalised interest charges.
\nCharges and income arising from hedging instruments represent Aedifica\u2019s cash interest payments or receipts
\nrelated to the derivatives presented in Note 24 and detailed in Note 33. Changes in the fair value of these
\nderivatives are recognised in the income statement and are listed in Note 16.
\n
\n\n\n\n
\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFinanceCostExplanatory",
"language": "en",
"entity": "scheme:529900DTKNXL0AXQFN28",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag700": {
"value": "\nNote 14: Net interest charges
\n
\n(x \u20ac1,000)
\n31/12/2023
\n31/12/2022
\nNominal interest on borrowings
\n-76,824
\n-27,617
\nBilateral loans - floating rate -55,060 -14,597
\nShort-term treasury Notes - floating rate
\n-7,892
\n-841
\nInvestment credits - floating or fixed rate
\n-3,338
\n-1,628
\nLong-term treasury Notes - fixed rate
\n-1,394
\n-1,395
\nBond - Fixed rate
\n-3,747
\n-3,750
\nPrivate placement - fixed rate
\n-5,393
\n-5,406
\nCharges arising from authorised hedging instruments
\n
\n
\nAuthorised hedging instruments qualifying for hedge accounting
\nas defined under IFRS
\n-2,126 -4,121
\nAuthorised hedging instruments not qualifying for hedge accounting
\nas defined under IFRS
\n-16,965
\n-5,763
\nSubtotal
\n-19,091
\n-9,884
\nIncome arising from authorised hedging instruments
\n
\n
\nAuthorised hedging instruments qualifying for hedge accounting
\nas defined under IFRS
\n7,528
\n1,071
\nAuthorised hedging instruments not qualifying for hedge accounting
\nas defined under IFRS
\n39,188 3,259
\nSubtotal
\n46,716
\n4,330
\nCapitalised interest charges
\n5,716
\n3,966
\nInterest cost related to leasing debts booked in accordance with IFRS 16
\n-1,393
\n-951
\nOther interest charges
\n-128
\n-495
\nTOTAL
\n-45,004
\n-30,651
\n
\nIn 2023, the high increase in interest on borrowings was partly offset by the increase in income from
\nauthorised hedging instruments and capitalised interest charges.
\nCharges and income arising from hedging instruments represent Aedifica\u2019s cash interest payments or receipts
\nrelated to the derivatives presented in Note 24 and detailed in Note 33. Changes in the fair value of these
\nderivatives are recognised in the income statement and are listed in Note 16.
\n
\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfInterestExpenseExplanatory",
"language": "en",
"entity": "scheme:529900DTKNXL0AXQFN28",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
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"Tag711": {
"value": "\nNote 15: Other financial charges
\n
\n(x \u20ac1,000)
\n31/12/2023
\n31/12/2022
\nBank charges and other commissions
\n-5,069
\n-4,819
\nOther -112 -2,375
\nTOTAL
\n-5,181
\n-7,194
\n
\nThe item \u2018Bank charges and other commissions\u2019 includes \u20ac3,514 k of commitment fees (2022: \u20ac3,437 k).
\nThe item \u2018Other\u2019 includes -\u20ac1 k of realised and unrealised foreign exchange differences (2022: -\u20ac2,222 k).
\n
\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfEffectOfChangesInForeignExchangeRatesExplanatory",
"language": "en",
"entity": "scheme:529900DTKNXL0AXQFN28",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag737": {
"value": "\nNote 16: Changes in fair value of financial assets and liabilities
\n
\n(x \u20ac1,000)
\n31/12/2023 31/12/2022
\nAuthorised hedging instruments
\n
\n
\nAuthorised hedging instruments qualifying for hedge accounting
\nas defined under IFRS
\n0
\n34
\nAuthorised hedging instruments not qualifying for hedge accounting
\nas defined under IFRS
\n-50,548
\n124,252
\nSubtotal
\n-50,548
\n124,286
\nOther
\n-330
\n-1,044
\nTOTAL
\n-50,878
\n123,242
\n
\nThe Line \u2018Other\u2019 represents the changes in fair value of the put options granted to non-controlling
\nshareholders (see Notes 24 and 43).
\n
\n\n\n\n\n\n",
"dimensions": {
"concept": "aed:DisclosureOfChangesInFairValueOfFinancialAssetsAndLiabilitiesExplanatory",
"language": "en",
"entity": "scheme:529900DTKNXL0AXQFN28",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag712": {
"value": "\nNote 17: Share in the profit or loss of associates and joint ventures
\nOn 1 July 2018, Aedifica transferred the \u2018apartments\u2019 branch of activities to a separate company
\n(Immobe NV/SA), which was initially wholly controlled by Aedifica NV/SA.
\nAedifica NV/SA gradually sold its shares in Immobe NV/SA (in 2 phases) to Primonial European Residential
\nFund:
\n\u2022 phase 1: sale of 50% (minus one share) during the second quarter of the 2018/2019 financial year
\n(see press release of 31 October 2018 for more information);
\n\u2022 phase 2: sale of an additional 25% (plus two shares) during the third quarter of the 2018/2019 financial
\nyear (see press release of 27 March 2019 for more information).
\nFollowing the sale of the second phase, Immobe NV/SA is no longer a perimeter company and is consolidated
\nusing the equity method.
\nOn 7 July 2022, Aedifica created Sonneborgh Ontwikkeling BV for the acquisition of a real estate company
\nthat owns a plot of land in the Netherlands. The purpose of Aedifica Sonneborgh Ontwikkeling BV is to obtain
\nbuilding permits and construct a care home. Upon completion, the building will be transferred to Aedifica
\nSonneborgh Real Estate BV, another company controlled by Aedifica.
\n
\nOn 1 April 2022 and 9 September 2022, Aedifica UK Ltd acquired a 25% stake in 2 British real estate
\ncompanies that own plots of land (MMCG 2 Devco 2 Ltd and MMCG 2 Devco 3 Ltd, respectively). The value
\nof the shares acquired amounts to \u00a3268 for each company. The remaining shares are held by Maria Mallaband
\nCare Group, which is developing a care home on each of the plots. Upon completion of the buildings in 2024,
\nAedifica UK Ltd will acquire full ownership of the completed properties by taking control of the remaining
\nshares in the companies. The completed properties will be leased to MMCG (2) Ltd which will operate the
\ncare homes (see press releases of 1 April 2022 and 9 September 2022 for more information).
\n(x \u20ac1,000)
\n31/12/2023
\n31/12/2022
\nCarrying amount at the beginning of the year
\n40,824
\n40,522
\nAcquisition of shares of associates and joint ventures accounted for
\nusing the equity method
\n25
\n504
\nDisposal of shares of a subsidiary resulting in their equity method
\naccounting (formerly under full consolidation)
\n0 0
\nShare in the profit or loss of associates and joint ventures accounted for
\nusing the equity method
\n-256
\n2,168
\nImpact of dividends received on equity
\n-1,115
\n-2,372
\nDistribution of share premium
\n-3,492
\n0
\nOther
\n-1
\n2
\nCarrying amount at the end of the year
\n35,985
\n40,824
\n
\n
\nCompany
\nImmobe NV/SA
\nMMCG 2 DEVCO 2 Ltd
\nMMCG 2 DEVCO 3 Ltd
\nAedifica Sonneborgh
\nOntwikkeling BV
\nSegment
\nApartment buildings
\nHealthcare real estate
\nHealthcare real estate
\nHealthcare real estate
\nCountry
\nBelgium
\nUnited Kingdom
\nUnited Kingdom
\nNetherlands
\n% held by the Group
\n24.97%
\n25.09%
\n25.09%
\n50.00%
\nPartner shareholders
\nPrimonial European
\nResidential Holdco Sarl
\nMiscellaneous
\nMiscellaneous
\nSonneborgh Ontwikkeling BV
\nDate of company creation
\nJune 2018
\nJune 2021
\nJune 2021
\nOctober 2015
\n
\n
\n
\n
\n
\nAmount of the Group share in the result
\n(x1.000 \u20ac)
\n31/12/2023
\n31/12/2023
\n31/12/2023
\n31/12/2023
\nNet result (100%)
\n-1,169
\n169
\n73
\n-49
\nOther elements of the global result
\n0
\n0
\n0
\n0
\nGlobal result
\n-1,169
\n169
\n73
\n-49
\n% held by the Group
\n24.97%
\n25.09%
\n25.09%
\n50.00%
\nShare in the profit or loss of associates and joint ventures accounted for using the
\nequity method
\n-292 42 18 -25
\n
\n
\n
\n
\n
\nAmount of the interest at the Group
\n(x 1.000\u20ac)
\n
\n
\n
\n
\nEquity-accounted investments 35,491 0 0 494
\n
\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfInvestmentsAccountedForUsingEquityMethodExplanatory",
"language": "en",
"entity": "scheme:529900DTKNXL0AXQFN28",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
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"Tag713": {
"value": "Aedifica NV/SA",
"dimensions": {
"concept": "ifrs-full:NameOfParentEntity",
"language": "en",
"entity": "scheme:529900DTKNXL0AXQFN28",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag714": {
"value": "Aedifica NV/SA",
"dimensions": {
"concept": "ifrs-full:NameOfUltimateParentOfGroup",
"language": "en",
"entity": "scheme:529900DTKNXL0AXQFN28",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag715": {
"value": "\n
\n\nNote 18: Tax
\n
\n(x \u20ac1,000)
\n31/12/2023
\nBE DE NL UK FI SE IE ES TOTAL
\nCorporate tax
\n-445
\n-2,417
\n8,417
\n-3,074
\n-114
\n-68
\n-994
\n0
\n1,305
\nExit tax
\n54
\n0
\n0
\n0
\n0
\n0
\n0
\n0
\n54
\nDeferred taxes
\n0
\n5,773
\n19,788
\n-2,438
\n952
\n729
\n-375
\n-169
\n24,260
\nTOTAL TAX
\n-391
\n3,356
\n28,205
\n-5,512
\n838
\n661
\n-1,369
\n-169
\n25,619
\n
\n(x \u20ac1,000)
\n31/12/2022
\nBE
\nDE
\nNL
\nUK
\nFI
\nSE
\nIE
\nES
\nTOTAL
\nCorporate tax
\n-130
\n-3,038
\n-4,468
\n-4,156
\n-81
\n-45
\n-52
\n0
\n-11,970
\nExit tax
\n-330
\n0
\n0
\n0
\n0
\n0
\n0
\n0
\n-330
\nDeferred taxes 0 -12,307 -7,611 -8,758 -11,519 -1,383 -781 -16 -42,375
\nTOTAL TAX
\n-460
\n-15,345
\n-12,079
\n-12,914
\n-11,600
\n-1,428
\n-833
\n-16
\n-54,675
\n
\nTaxes are composed of current taxes, deferred taxes and exit tax.
\nCurrent taxes consist primarily of tax generated abroad, tax on the result of consolidated subsidiaries and, to
\na lesser extent, of Belgian tax on Aedifica\u2019s non-deductible expenditures (since Belgian REITs benefit from a
\nspecific tax regime, leading to the taxation of only non-deductible costs, such as regional taxes, car costs,
\nrepresentation costs, social costs, donations, etc.).
\nFiscal Investment Institutions (\u2018FBI\u2019) in the Netherlands
\nIn September 2022, the Dutch government announced its intention to exclude direct investments in real estate
\nfrom the Fiscal Investment Institutions (Fiscale Beleggingsinstellingen, \u2018FBI\u2019) regime as from 1 January 2024.
\nThe entry into force of this measure was postponed to 1 January 2025. Although Aedifica believed it met the
\nconditions for claiming the FBI regime and submitted applications to the Dutch tax authorities to that effect,
\nthe Group opted as a matter of prudence for a common law tax burden on the results of its Dutch subsidiaries
\nfrom the start of its operations in the Netherlands in 2016. Every year, the Group claimed the application of
\nthis regime for its subsidiaries operating in the Netherlands. At the end of 2022, the Group finally received
\nconfirmation that the FBI requirements were met for the past fiscal years. Aedifica decided to reverse the
\naccrued tax provisions of previous years in the income statement upon receipt of the final corporate tax
\nassessment. During the first half of 2023, final corporate tax assessments and refunds for the period from
\n2016 to 2021 amounting to approx. \u20ac9.0 million were received and recognised in the income statement. The
\nfinal corporate tax assessment for 2022 was received early 2024. The accrued tax provisions for 2022 amount
\nto approx. \u20ac4.2 million. For the year 2023, no provision for corporate income tax has been made in the Dutch
\nsubsidiaries. No provisions will be made for 2024 either.
\nDeferred taxes generally arose from the recognition at fair value of buildings located abroad in conformity
\nwith IAS 40. This deferred tax (with no monetary impact, that is to say, non-cash) is thus excluded from the
\nEPRA Earnings* (see Note 25).
\nAs revenue threshold requirements (as detailed in IAS 12 \u2013 'OECD pillar two model rules') are not met, the
\nGroup is exempt to apply the Pillar two model rules on deferred tax assets and liabilities.
\n
\n\n\n\n\n
\n\n\n\n\nNote 25: Deferred taxes
\nThe deferred taxes recognised in the balance sheet arise from the acquisitions of investment properties
\nlocated outside of Belgium. They generally result from the temporary difference between the buildings\u2019 fair
\nvalue and the assessed value used for tax purposes.
\nThe decrease in deferred tax liabilities is mainly due to the decrease in fair value of properties and obtaining
\nthe FBI regime for Dutch subsidiaries.
\nChanges in deferred taxes are as follows (see also Note 18):
\n(x \u20ac1,000)
\nAssets
\nLiabilities
\nCARRYING AMOUNT AS OF 1/01/2022
\n3,116
\n-121,283
\nOriginations
\n1,547
\n-47,112
\nReversals 0 4,278
\nScope changes
\n0
\n0
\nCARRYING AMOUNT AS OF 31/12/2022
\n4,662
\n-164,117
\n
\n
\n
\n(x \u20ac1,000)
\nAssets
\nLiabilities
\nCARRYING AMOUNT AS OF 01/01/2023
\n4,662
\n-164,117
\nOriginations
\n-1,640
\n23,857
\nReversals
\n0
\n1,602
\nScope changes 0 0
\nCARRYING AMOUNT AS OF 31/12/2023
\n3,023
\n-138,658
\n
\n\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfIncomeTaxExplanatory",
"language": "en",
"entity": "scheme:529900DTKNXL0AXQFN28",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag716": {
"value": "\nNote 19: Earnings per share
\nThe earnings per share (\u2018EPS\u2019 as defined by IAS 33) is calculated as follows:
\n
\n31/12/2023
\n31/12/2022
\nProfit (loss) (Owners of the parent) (x \u20ac1,000)
\n24,535
\n331,778
\nWeighted average number of shares outstanding during the period 43,706,129 38,113,384
\nBasic EPS (in \u20ac)
\n0.56
\n8.71
\nDiluted EPS (in \u20ac)
\n0.56
\n8.71
\n
\nAedifica uses EPRA Earnings* to comply with the EPRA\u2019s recommendations and to measure its operational
\nand financial performance; however, this performance measure is not defined under IFRS (see Note 44).
\nIt is calculated as follows:
\n(x \u20ac1,000)
\n31/12/2023
\n31/12/2022
\nProfit (loss) (Owners of the parent)
\n24,535
\n331,778
\nChanges in fair value of investment properties (see Note 11)
\n143,636
\n-84,877
\nGain and losses on disposal of investment properties (see Note 9) 856 -787
\nDeferred taxes in respect of EPRA adjustments (see Notes 18 and 25)
\n-24,314
\n42,705
\nTax on profits or losses on disposals (see Notes 9 and 18)
\n0
\n0
\nChanges in fair value of financial assets and liabilities (see Note 16)
\n50,878
\n-123,242
\nGoodwill impairment (see Note 12)
\n26,072
\n18,103
\nShare in the profit or loss of associates and joint ventures accounted for
\nusing the equity method in respect of EPRA corrections
\n574
\n-1,806
\nNon-controlling interests in respect of the above
\n-2,658
\n-488
\nRoundings
\n0
\n0
\nEPRA Earnings* 219,579 181,386
\n
\n
\n
\nWeighted average number of shares outstanding during the period
\n43,706,129
\n38,113,384
\nEPRA Earnings* per share (in \u20ac)
\n5.02
\n4.76
\nEPRA Earnings* diluted per Share (in \u20ac) 5.02 4.76
\n
\nThe calculation in accordance with the model recommended by EPRA is included on page 181 of this Annual
\nReport.
\n
\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfEarningsPerShareExplanatory",
"language": "en",
"entity": "scheme:529900DTKNXL0AXQFN28",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag717": {
"value": "\n
\n\nNote 20: Goodwill
\n
\n(x \u20ac1,000)
\n31/12/2023
\n31/12/2022
\nGross value at the beginning of the year
\n165,204
\n165,678
\nCumulative impairment losses at the beginning of the year -21,535 -3,952
\nCarrying amount at the beginning of the year
\n143,669
\n161,726
\nGross value \u2013 Additions / transfer
\n0
\n45
\nGross value \u2013 Disposals
\n0
\n-335
\nGross value \u2013 Increase / decrease due to foreign exchange rate
\n80
\n-184
\nImpairment losses \u2013 Additions
\n-26,072
\n-18,101
\nImpairment losses \u2013 Disposals
\n0
\n335
\nImpairment losses \u2013 Increase / decrease due to foreign exchange rate
\n-80
\n184
\nCARRYING AMOUNT AT THE END OF THE YEAR 117,597 143,669
\nof which: gross value
\n165,284
\n165,204
\ncumulative impairment losses
\n-47,687
\n-21,535
\n
\nIn accordance with the requirements of IAS 36 \u2013 Impairment of Assets, the Group primarily analysed the
\ncarrying amount of goodwill.
\nThe gross value of goodwill resulting from the acquisition of Hoivatilat Oyj in 2020 remains unchanged
\n(\u20ac161,726 k). It results from the positive difference between the acquisition cost (the price paid for the shares
\nof Hoivatilat Oyj) and the fair value of the net assets acquired.
\nWhen the Aedifica Group acquired Hoivatilat Oyj, the company already had a complete and operational
\ndevelopment team. The goodwill paid by the Aedifica Group is a recognition of the capabilities, know-how
\nand local connections that enable Hoivatilat Oyj to achieve the expected development goals. Since the
\nacquisition in January 2020, the company has successfully achieved these development goals and remains
\non track with management expectations.
\nThe addition of goodwill in 2021 (\u20ac3,617 k, corresponding to \u00a33,043 k on the books of Aedifica UK Limited,
\nthe buyer) arose from the acquisition of Aedifica UK Management Limited (formerly Layland Walker Limited),
\nwhich is the asset management company of the UK subsidiaries. It results from the positive difference
\nbetween the acquisition cost (the price paid for the shares of Aedifica UK Management Limited) and the fair
\nvalue of the net assets acquired. In 2022, a price adjustment arose from the application of the normal share
\npurchase agreement mechanism, resulting in an addition of \u20ac44 k (corresponding to \u00a340 k on the books of
\nAedifica UK Limited). The change in the foreign exchange rate between euro and British pound sterling
\ncompared to 31 December 2022 also resulted in an increase in both gross value and cumulative impairment
\nlosses of \u20ac80 k.
\n
\nImpairment test
\nOn 31 December 2023, the goodwill of the Hoivatilat Oyj acquisition was subject to an impairment test by
\ncomparing the carrying value of the cash generating units to which goodwill is allocated with the recoverable
\namount of those Cash Generating Units (CGU). CGU\u2019s to which goodwill is allocated are the existing
\ninvestment properties of Hoivatilat in Finland, together with the future development activities in Finland
\nenabled by Hoivatilat\u2019s internal development team and aligned with the development objectives set as from
\nacquisition.
\nIn determining the recoverable amount of a cash-generating unit, management uses estimates. The methods
\nused to calculate the recoverable amount include methods based on discounted cash flows and methods
\nbased on market prices. Discounted cash flow valuations refer to projections based on financial plans
\napproved by management, which are also used for internal purposes. The chosen planning horizon reflects
\nthe assumptions for short- to medium-term market developments and is taken into account for the calculation
\nof the perpetual annuity. The terminal value is reached at the end of the planning horizon, taking into account
\nthe achievement of the development pipeline.
\nOn 31 December 2023, the recoverable amount is the estimated fair value less cost of disposal of the
\nHoivatilat shares. The fair value less costs of disposal is determined by the Group using the expected future
\nnet cash flows covering the next four years based on the rents of the underlying investment properties and
\ndevelopment projects (as per the tenants\u2019 lease agreements), the expenses to maintain and manage the
\nproperty portfolio, and the value of development activities. Cash flows beyond the first 4 planning years are
\nextrapolated using an appropriate terminal growth rate. This valuation represents a level 3 fair value
\nmeasurement. The key assumptions in determining fair value less disposal costs are the completion of the
\ndevelopment pipeline over the next four years, the indexation rate (which also directly affects the terminal
\ngrowth rate) and the discount rate. They are mainly derived from internal sources and are based on past
\nexperience and extended by current internal expectations, and underlined by external market data and
\nestimates. Any future changes in the above assumptions could have a significant impact on the fair values of
\nthe cash-generating units.
\nManagement\u2019s approach in the calculation of the fair value less cost of disposal of Hoivatilat:
\n\u2022 The cash flow forecast (based on a budget plan approved by management) applied to determine the
\nvalue of investment properties and ongoing development projects covers 4 years after testing date.
\n\u2022 The indexation rate applied to the 4-year forecast is based on the consumer price index in Finland
\nand varies for each lease.
\n\u2022 The terminal perpetual growth rate applied on the last cash flow of the four year budget stands at 2%,
\nwhich corresponds to the ECB's long-term target (2% in the 2022 impairment test).
\n\u2022 The value of development activities is determined assuming that a pipeline of \u20ac100 million per year
\nwill be developed over 4 years and sold upon completion. The yield on cost applied to determine the
\nfair value of the non-committed pipeline amounts to approx. 6.5% (6% in the 2022 impairment test)
\nand is based on the assumptions used by the independent real estate experts in the valuation of the
\nexisting portfolio. Climate change is one of the variables that experts include in their valuation.
\n\u2022 The discount rate amounts to 5.45% (4.75% in the 2022 impairment test), based on the average
\nrequired return on equity and debt. Management applies a capital asset pricing model based on
\nobservable market data.
\n
\n\n\n\n\n
\n\n\n\n\n\n\nThe assumptions used in our valuation model for the execution of development activities and maintenance
\nexpenses take into account the current sustainability requirements applicable to this type of assets in Finland.
\nClimate change brings several challenges that may negatively impact the future value of assets (see risk factor
\n5. \u2018Climate change\u2019 on page 117).
\nOn 31 December 2022, the carrying value amounted to \u20ac1,152,889 k and the recoverable amount was
\n\u20ac1,134,832 k.
\nOn 31 December 2023, the carrying value amounted to \u20ac1,213,634 k and the recoverable amount was
\n\u20ac1,187,562 k. The negative difference of \u20ac26.072 k was recognised as impairment in the Consolidated Income
\nStatement.
\nThe estimated recoverable amount is negatively impacted by the discount rate.
\nSensitivity analysis
\nChange of recoverable amount
\n(in %)
\n31/12/2023
\n31/12/2022
\nChange in inflation
\n
\n
\n
\n
\n+1.00%
\n26%
\n30%
\n+0.50%
\n12%
\n14%
\n-0.50%
\n-10%
\n-12%
\n-1.00% -19% -22%
\nChange in discount rate
\n
\n
\n
\n
\n+1.00%
\n-22%
\n-24%
\n+0.50%
\n-12%
\n-13%
\n-0.50%
\n14%
\n15%
\n-1.00%
\n30%
\n33%
\n\n\n
\nThe sensitivity analysis does not consider the effect of one variable on the others, because there is no
\nconsensus on the methodology to be applied in order to quantify such impact.
\nProvided that Aedifica UK Management Limited will not provide asset management services outside of the
\nGroup, the recoverable amount is considered to be zero. Therefore, the goodwill was entirely amortised on
\n31 December 2022.
\n\n\n\n\n\n\n\n\nNote 21: Intangible assets
\nIntangible assets all have a limited useful life and consist mainly of computer software. Amortisation is
\nrecognised in income under the line \u2018overheads\u2019 (see Note 7).
\n(x \u20ac1,000)
\n31/12/2023
\n31/12/2022
\nGross value at the beginning of the year
\n3,872
\n3,353
\nAmortisations at the beginning of the year
\n-2,015
\n-1,419
\nCarrying amount at the beginning of the year
\n1,857
\n1,934
\nEntries: items acquired separately 540 519
\nDisposals
\n0
\n0
\nAmortisations to income statement
\n-734
\n-596
\nAmortisations related to acquisitions and disposals
\n0
\n0
\nCARRYING AMOUNT AT THE END OF THE YEAR
\n1,663
\n1,857
\nof which: Gross value
\n4,412
\n3,872
\nAmortisations
\n-2,749
\n-2,015
\n\n\n\n\n\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfIntangibleAssetsAndGoodwillExplanatory",
"language": "en",
"entity": "scheme:529900DTKNXL0AXQFN28",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag718": {
"value": "\nNote 20: Goodwill
\n
\n(x \u20ac1,000)
\n31/12/2023
\n31/12/2022
\nGross value at the beginning of the year
\n165,204
\n165,678
\nCumulative impairment losses at the beginning of the year -21,535 -3,952
\nCarrying amount at the beginning of the year
\n143,669
\n161,726
\nGross value \u2013 Additions / transfer
\n0
\n45
\nGross value \u2013 Disposals
\n0
\n-335
\nGross value \u2013 Increase / decrease due to foreign exchange rate
\n80
\n-184
\nImpairment losses \u2013 Additions
\n-26,072
\n-18,101
\nImpairment losses \u2013 Disposals
\n0
\n335
\nImpairment losses \u2013 Increase / decrease due to foreign exchange rate
\n-80
\n184
\nCARRYING AMOUNT AT THE END OF THE YEAR 117,597 143,669
\nof which: gross value
\n165,284
\n165,204
\ncumulative impairment losses
\n-47,687
\n-21,535
\n
\nIn accordance with the requirements of IAS 36 \u2013 Impairment of Assets, the Group primarily analysed the
\ncarrying amount of goodwill.
\nThe gross value of goodwill resulting from the acquisition of Hoivatilat Oyj in 2020 remains unchanged
\n(\u20ac161,726 k). It results from the positive difference between the acquisition cost (the price paid for the shares
\nof Hoivatilat Oyj) and the fair value of the net assets acquired.
\nWhen the Aedifica Group acquired Hoivatilat Oyj, the company already had a complete and operational
\ndevelopment team. The goodwill paid by the Aedifica Group is a recognition of the capabilities, know-how
\nand local connections that enable Hoivatilat Oyj to achieve the expected development goals. Since the
\nacquisition in January 2020, the company has successfully achieved these development goals and remains
\non track with management expectations.
\nThe addition of goodwill in 2021 (\u20ac3,617 k, corresponding to \u00a33,043 k on the books of Aedifica UK Limited,
\nthe buyer) arose from the acquisition of Aedifica UK Management Limited (formerly Layland Walker Limited),
\nwhich is the asset management company of the UK subsidiaries. It results from the positive difference
\nbetween the acquisition cost (the price paid for the shares of Aedifica UK Management Limited) and the fair
\nvalue of the net assets acquired. In 2022, a price adjustment arose from the application of the normal share
\npurchase agreement mechanism, resulting in an addition of \u20ac44 k (corresponding to \u00a340 k on the books of
\nAedifica UK Limited). The change in the foreign exchange rate between euro and British pound sterling
\ncompared to 31 December 2022 also resulted in an increase in both gross value and cumulative impairment
\nlosses of \u20ac80 k.
\n
\nImpairment test
\nOn 31 December 2023, the goodwill of the Hoivatilat Oyj acquisition was subject to an impairment test by
\ncomparing the carrying value of the cash generating units to which goodwill is allocated with the recoverable
\namount of those Cash Generating Units (CGU). CGU\u2019s to which goodwill is allocated are the existing
\ninvestment properties of Hoivatilat in Finland, together with the future development activities in Finland
\nenabled by Hoivatilat\u2019s internal development team and aligned with the development objectives set as from
\nacquisition.
\nIn determining the recoverable amount of a cash-generating unit, management uses estimates. The methods
\nused to calculate the recoverable amount include methods based on discounted cash flows and methods
\nbased on market prices. Discounted cash flow valuations refer to projections based on financial plans
\napproved by management, which are also used for internal purposes. The chosen planning horizon reflects
\nthe assumptions for short- to medium-term market developments and is taken into account for the calculation
\nof the perpetual annuity. The terminal value is reached at the end of the planning horizon, taking into account
\nthe achievement of the development pipeline.
\nOn 31 December 2023, the recoverable amount is the estimated fair value less cost of disposal of the
\nHoivatilat shares. The fair value less costs of disposal is determined by the Group using the expected future
\nnet cash flows covering the next four years based on the rents of the underlying investment properties and
\ndevelopment projects (as per the tenants\u2019 lease agreements), the expenses to maintain and manage the
\nproperty portfolio, and the value of development activities. Cash flows beyond the first 4 planning years are
\nextrapolated using an appropriate terminal growth rate. This valuation represents a level 3 fair value
\nmeasurement. The key assumptions in determining fair value less disposal costs are the completion of the
\ndevelopment pipeline over the next four years, the indexation rate (which also directly affects the terminal
\ngrowth rate) and the discount rate. They are mainly derived from internal sources and are based on past
\nexperience and extended by current internal expectations, and underlined by external market data and
\nestimates. Any future changes in the above assumptions could have a significant impact on the fair values of
\nthe cash-generating units.
\nManagement\u2019s approach in the calculation of the fair value less cost of disposal of Hoivatilat:
\n\u2022 The cash flow forecast (based on a budget plan approved by management) applied to determine the
\nvalue of investment properties and ongoing development projects covers 4 years after testing date.
\n\u2022 The indexation rate applied to the 4-year forecast is based on the consumer price index in Finland
\nand varies for each lease.
\n\u2022 The terminal perpetual growth rate applied on the last cash flow of the four year budget stands at 2%,
\nwhich corresponds to the ECB's long-term target (2% in the 2022 impairment test).
\n\u2022 The value of development activities is determined assuming that a pipeline of \u20ac100 million per year
\nwill be developed over 4 years and sold upon completion. The yield on cost applied to determine the
\nfair value of the non-committed pipeline amounts to approx. 6.5% (6% in the 2022 impairment test)
\nand is based on the assumptions used by the independent real estate experts in the valuation of the
\nexisting portfolio. Climate change is one of the variables that experts include in their valuation.
\n\u2022 The discount rate amounts to 5.45% (4.75% in the 2022 impairment test), based on the average
\nrequired return on equity and debt. Management applies a capital asset pricing model based on
\nobservable market data.
\n
\n\n\n\n\nThe assumptions used in our valuation model for the execution of development activities and maintenance
\nexpenses take into account the current sustainability requirements applicable to this type of assets in Finland.
\nClimate change brings several challenges that may negatively impact the future value of assets (see risk factor
\n5. \u2018Climate change\u2019 on page 117).
\nOn 31 December 2022, the carrying value amounted to \u20ac1,152,889 k and the recoverable amount was
\n\u20ac1,134,832 k.
\nOn 31 December 2023, the carrying value amounted to \u20ac1,213,634 k and the recoverable amount was
\n\u20ac1,187,562 k. The negative difference of \u20ac26.072 k was recognised as impairment in the Consolidated Income
\nStatement.
\nThe estimated recoverable amount is negatively impacted by the discount rate.
\nSensitivity analysis
\nChange of recoverable amount
\n(in %)
\n31/12/2023
\n31/12/2022
\nChange in inflation
\n
\n
\n
\n
\n+1.00%
\n26%
\n30%
\n+0.50%
\n12%
\n14%
\n-0.50%
\n-10%
\n-12%
\n-1.00% -19% -22%
\nChange in discount rate
\n
\n
\n
\n
\n+1.00%
\n-22%
\n-24%
\n+0.50%
\n-12%
\n-13%
\n-0.50%
\n14%
\n15%
\n-1.00%
\n30%
\n33%
\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfGoodwillExplanatory",
"language": "en",
"entity": "scheme:529900DTKNXL0AXQFN28",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag728": {
"value": "\n\n\n\n\nNote 21: Intangible assets
\nIntangible assets all have a limited useful life and consist mainly of computer software. Amortisation is
\nrecognised in income under the line \u2018overheads\u2019 (see Note 7).
\n(x \u20ac1,000)
\n31/12/2023
\n31/12/2022
\nGross value at the beginning of the year
\n3,872
\n3,353
\nAmortisations at the beginning of the year
\n-2,015
\n-1,419
\nCarrying amount at the beginning of the year
\n1,857
\n1,934
\nEntries: items acquired separately 540 519
\nDisposals
\n0
\n0
\nAmortisations to income statement
\n-734
\n-596
\nAmortisations related to acquisitions and disposals
\n0
\n0
\nCARRYING AMOUNT AT THE END OF THE YEAR
\n1,663
\n1,857
\nof which: Gross value
\n4,412
\n3,872
\nAmortisations
\n-2,749
\n-2,015
\n\n\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfIntangibleAssetsExplanatory",
"language": "en",
"entity": "scheme:529900DTKNXL0AXQFN28",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag729": {
"value": "\n\n\nNote 21: Intangible assets
\nIntangible assets all have a limited useful life and consist mainly of computer software. Amortisation is
\nrecognised in income under the line \u2018overheads\u2019 (see Note 7).
\n(x \u20ac1,000)
\n31/12/2023
\n31/12/2022
\nGross value at the beginning of the year
\n3,872
\n3,353
\nAmortisations at the beginning of the year
\n-2,015
\n-1,419
\nCarrying amount at the beginning of the year
\n1,857
\n1,934
\nEntries: items acquired separately 540 519
\nDisposals
\n0
\n0
\nAmortisations to income statement
\n-734
\n-596
\nAmortisations related to acquisitions and disposals
\n0
\n0
\nCARRYING AMOUNT AT THE END OF THE YEAR
\n1,663
\n1,857
\nof which: Gross value
\n4,412
\n3,872
\nAmortisations
\n-2,749
\n-2,015
\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfDepreciationAndAmortisationExpenseExplanatory",
"language": "en",
"entity": "scheme:529900DTKNXL0AXQFN28",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag730": {
"value": "\nNote 21: Intangible assets
\nIntangible assets all have a limited useful life and consist mainly of computer software. Amortisation is
\nrecognised in income under the line \u2018overheads\u2019 (see Note 7).
\n(x \u20ac1,000)
\n31/12/2023
\n31/12/2022
\nGross value at the beginning of the year
\n3,872
\n3,353
\nAmortisations at the beginning of the year
\n-2,015
\n-1,419
\nCarrying amount at the beginning of the year
\n1,857
\n1,934
\nEntries: items acquired separately 540 519
\nDisposals
\n0
\n0
\nAmortisations to income statement
\n-734
\n-596
\nAmortisations related to acquisitions and disposals
\n0
\n0
\nCARRYING AMOUNT AT THE END OF THE YEAR
\n1,663
\n1,857
\nof which: Gross value
\n4,412
\n3,872
\nAmortisations
\n-2,749
\n-2,015
\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfImpairmentOfAssetsExplanatory",
"language": "en",
"entity": "scheme:529900DTKNXL0AXQFN28",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag719": {
"value": "\nNote 22: Investment properties
\nNote 22.1: Overview of investment properties
\n
\n(x \u20ac1,000)
\n31/12/2023
\n31/12/2022
\nMarketable investment properties
\n5,529,564
\n5,365,071
\n+ Right of use of plots of land 73,172 70,335
\n+ Development projects
\n168,950
\n184,295
\n+ Land reserve
\n18,671
\n-
\nInvestment properties
\n5,790,357
\n5,619,701
\n+ Assets classified as held for sale
\n58,158
\n84,033
\nInvestment properties including assets classified as held for sale*, or
\nreal estate portfolio*
\n5,848,515
\n5,703,734
\n- Development projects
\n-168,950
\n-184,295
\nMarketable investment properties including assets classified as held
\nfor sale*, or investment properties portfolio
\n5,679,565 5,519,439
\n
\nAll investment properties are located in Belgium, Germany, the Netherlands, the United Kingdom, Finland,
\nSweden, Ireland and Spain.
\nAssets classified as held for sale (line II.A. included in the assets on the balance sheet) amount to \u20ac58.2 million
\nas of 31 December 2023. They mainly relate to eight care properties in the United Kingdom, two care
\nproperties in Germany and one care property in Belgium that are considered to be non-strategic assets.
\nDevelopment projects are detailed in the \u2018Portfolio\u2019 chapter included in the present Annual Report.
\nIn 2023, Aedifica created a new \u2018land reserve\u2019 category that includes all plots of land without committed
\nprojects.
\n
\n
\nThe evolution of the marketable investment properties and development projects is detailed in the following
\ntable:
\n(x \u20ac1,000)
\nMarketable
\ninvestment
\nproperties
\nDevelopment
\nprojects
\nTOTAL
\nCARRYING AMOUNT AS OF 01/01/2022
\n4,651,161
\n151,954
\n4,803,115
\nAcquisitions
\n425,053
\n42,028
\n467,081
\nDisposals
\n-34,930
\n-
\n-34,930
\nCapitalised interest charges
\n-
\n3,953
\n3,953
\nCapitalised development costs - 801 801
\nOther capitalised expenses
\n4,388
\n304,558
\n308,946
\nSpreading of rental gratuities and concessions
\n11,658
\n-
\n11,658
\nTransfers due to completion
\n322,639
\n-322,639
\n-
\nChanges in fair value (see Note 11)
\n81,851
\n4,258
\n86,109
\nOther expenses booked in the income statement
\n-
\n-
\n-
\nNet exchange difference on foreign operation
\n-48,077
\n-618
\n-48,695
\nTransfers to land reserve
\n0
\n-
\n-
\nAssets classified as held for sale
\n-48,672
\n-
\n-48,672
\nCARRYING AMOUNT AS OF 31/12/2022 5,365,071 184,295 5,549,366
\n
\n
\n
\n
\nCARRYING AMOUNT AS OF 01/01/2023
\n5,365,071
\n184,295
\n5,549,366
\nAcquisitions
\n54,769
\n4,513
\n59,282
\nDisposals
\n-73,978
\n-
\n-73,978
\nCapitalised interest charges
\n-
\n5,722
\n5,722
\nCapitalised development costs
\n-
\n1,043
\n1,043
\nOther capitalised expenses
\n3,106
\n257,290
\n260,396
\nSpreading of rental gratuities and concessions 8,865 - 8,865
\nTransfers due to completion
\n262,282
\n-262,282
\n-
\nChanges in fair value (see Note 11)
\n-124,135
\n-14,244
\n-138,379
\nOther expenses booked in the income statement
\n-
\n-
\n-
\nNet exchange difference on foreign operation
\n22,084
\n803
\n22,887
\nTransfers to land reserve
\n-14,375
\n-8,190
\n-22,565
\nAssets classified as held for sale
\n25,875
\n-
\n25,875
\nCARRYING AMOUNT AS OF 31/12/2023
\n5,529,564
\n168,950
\n5,698,514
\n
\nThe main impact on net exchange difference on foreign operation is generated by the Group\u2019s operations in
\nBritish pound sterling and, to a lesser extent, its operations in Swedish krona. For more details on the currency
\nvaluation method applied within the Group, see Note 2.
\nThe fair value of the marketable investment properties as of 31 December 2023 is assessed by independent
\nvaluation experts. The average capitalisation rate applied to contractual rents is 5.82% (in accordance with
\nthe valuation methodology \u2013 presented in the first bullet of section 1.12 of the Standing Documents included
\nin the 2023 Annual Report). A positive 0.10% change in the capitalisation rate would lead to a negative change
\nof approx. \u20ac94 million in the portfolio\u2019s fair value.
\n
\n\n\n\n\nNote 22.2: Acquisitions during the financial year
\nAcquisitions made during a financial year, as detailed in the Financial Review included in the present Annual
\nReport, can be realised in four ways:
\n\u2022 Acquisition of a property directly, paid in cash, presented under the item \u2018Purchase of Investment
\nProperties and Development Projects\u2019 of the cash flow statement;
\n\u2022 Acquisition of a property, paid in shares, these transactions are not included in the cash flow statement
\nas they do not generate cash flow;
\n\u2022 Acquisition of the company owning a property, paid in cash, shown under the item \u2018Purchase of Real
\nEstate companies\u2019 of the cash flow statement for the amount of the shares bought;
\n\u2022 Acquisition of the company owning a property, paid in shares, these transactions are not included in
\nthe cash flow statement as they do not generate cash flow.
\n(x \u20ac1,000)
\n
\n31/12/2023
\n31/12/2022
\nMarketable investment properties
\n
\n
\n
\n
\nProperties against cash
\n41,150
\n217,511
\n
\nProperties against shares
\n0
\n23
\n
\nCompanies against cash
\n13,620
\n154,078
\n
\nCompanies against shares 0 53,442
\nDevelopment projects
\n
\n
\n
\n
\nProperties against cash
\n3,245
\n31,643
\n
\nProperties against shares
\n0
\n0
\n
\nCompanies against cash
\n1,268
\n10,385
\n
\nCompanies against shares
\n0
\n0
\nTOTAL
\n
\n59,282
\n467,081
\n
\nThe amount of \u20ac44,393 k included in the cash flow statement under the heading \u2018Purchase of Investment
\nProperties and Development Projects\u2019 comprises the sum of the properties paid in cash.
\nThe amount of \u20ac11,315 k included in the cash flow statement under the heading \u2018Purchase of Real Estate
\ncompanies\u2019 comprises among other things the sum of the companies paid in cash.
\n
\nNote 22.3: Assessment method and unobservable data
\nAll investment properties are considered to be at \u2018level 3\u2019 on the fair value scale defined under IFRS 13. This
\nscale includes three levels: Level 1: observable listed prices in active markets; Level 2: observable data other
\nthan the listed prices included in level 1; Level 3: unobservable data. During the 2023 financial year, there
\nwere no transfers between level 1, level 2 and level 3.
\nThe valuation methodologies (approach under which a capitalisation rate is applied to the estimated rental
\nvalue and another approach based on the present value of future cash flows) are described in section 1.12 of
\nthe standing documents of the present Annual Report.
\nThe remaining economic life of the asset is not formally determined, but implicitly recognised through the
\ndiscount rate and the exit yield in case of DCF method or implicitly recognised through the capitalisation rate
\nused for the activation method, including a factor for building obsolescence. In all cases, this remaining
\neconomic life is at least equal to the remaining term of the current lease. The same principle applies to the
\noperational margin of the operators, which is implicity taken into account in the discount rate and the
\ncapitalisation rate.
\nFor other unobservable input not included in the table on page 148, see section 1 of the \u2018Portfolio\u2019 chapter
\nand \u2018Summary of investment properties\u2019 in the \u2018Additional information\u2019 chapter.
\nThe valuation of the buildings is based on an occupancy rate of 100% for the entire healthcare real estate
\nportfolio. The different parameters applied in the capitalisation method can vary depending on the location of
\nthe assets, the quality of the building, quality of the operator, lease length, the size of the building, square
\nmetre per unit, etc., which explains the significant differences between the minimum and maximum amounts
\nfor these unobservable data. Moreover, these unobservable data may be linked. The capitalisation rate is
\ndetermined by the valuation expert based on economic data and benchmarking and takes into account a risk
\npremium. One of the variables that affect the risk premium is related to climate change.
\nThe fair value is supported by market evidence and is based on valuations provided by valuation experts with
\nrelevant and recognised professional qualifications and recent experience in the geographic areas and
\nproperty types included in Aedifica\u2019s portfolio.
\nIn accordance with legal provisions, properties are revalued four times per year based on valuation reports
\nprepared by the eleven valuation experts appointed by the Company. These valuations are based on:
\n\u2022 information provided by the Company such as contractual rents, rental contracts, investment budgets,
\netc. These data are extracted from the Company\u2019s information system and are thus subject to the
\nCompany\u2019s internal control environment;
\n\u2022 assumptions and valuation models used by the valuation experts, based on their professional
\njudgment and market knowledge.
\nReports provided by the valuation experts are reviewed by the Company\u2019s Senior Valuation & Asset Manager,
\nthe Group Controller and the Executive Managers. This includes a review of the changes in fair value over the
\nperiod. When the Executive Managers consider that the valuation reports of the valuation experts are
\ncoherent, the valuation report is submitted to the Audit Committee. Following a favourable opinion of the
\nAudit and Risk Committee, these reports are submitted to the Board of Directors.
\nThe sensitivity of the fair value measurement to a change of the abovementioned unobservable data is
\ngenerally as follows (all else being equal):
\nUnobservable data
\nEffect on the fair value
\nin case of decrease of the
\nunobservable input value
\nin case of increase of the
\nunobservable input value
\nERV / m\u00b2
\nnegative
\npositive
\nCapitalisation rate positive negative
\nInflation
\nnegative
\npositive
\nDiscount rate
\npositive
\nnegative
\nResidual maturity (year)
\nnegative
\npositive
\n
\nInterrelations between unobservable data are possible, as they are determined in part by market conditions.
\n
\n\n\n\n\nThe quantitative information presented below in relation to the determination of the fair value of investment
\nproperties based on unobservable data (level 3) is taken from various reports produced by the valuation
\nexperts:
\nType of asset
\nFair value as at 31/12/2023
\n(x \u20ac1,000)
\nAssessment method
\nUnobservable data \u00b9
\nMin
\nMax
\nWeighted
\naverage
\nHEALTHCARE REAL ESTATE 5,587,722
\n
\n
\n
\n
\n
\nBelgium
\n1,235,918
\nDCF & Capitalisation
\nERV / m\u00b2
\n88
\n292
\n137
\n
\n
\n
\nInflation
\n2.3%
\n2.4%
\n2.3%
\n
\n
\n
\nDiscount rate
\n5.5%
\n8.0%
\n6.3%
\n
\n
\n
\nCapitalisation rate
\n4.5%
\n8.4%
\n5.4%
\n
\n
\n Residual maturity (year) 10 28 20
\nNetherlands
\n651,180
\nDCF & Capitalisation
\nERV / m\u00b2
\n44
\n358
\n150
\n
\n
\n
\nInflation
\n2.4%
\n4.1%
\n2.7%
\n
\n
\n
\nDiscount rate
\n4.0%
\n7.8%
\n6.0%
\n
\n
\n
\nCapitalisation rate 4.4% 9.7% 6.1%
\n
\n
\n
\nResidual maturity (year)
\n7
\n24
\n16
\nGermany
\n1,157,294
\nDCF
\nERV / m\u00b2
\n39
\n228
\n122
\n
\n
\n
\nInflation
\n2.1%
\n2.1%
\n2.1%
\n
\n
\n
\nDiscount rate 4.0% 7.5% 5.2%
\n
\n
\n
\nResidual maturity (year)
\n6
\n29
\n21
\nUnited Kingdom
\n1,045,800
\nCapitalisation
\nERV / m\u00b2
\n91
\n408
\n204
\n
\n
\n
\nCapitalisation rate
\n4.5%
\n11.8%
\n6.1%
\n
\n Residual maturity (year) 10 35 22
\nFinland
\n1,027,080
\nDCF
\nERV / m\u00b2
\n134
\n336
\n224
\n
\n
\n
\nInflation
\n2.0%
\n2.0%
\n2.0%
\n
\n
\n
\nDiscount rate
\n6.5%
\n8.3%
\n6.9%
\n
\n Residual maturity (year) 0 30 12
\nSweden
\n74,788
\nDCF
\nERV / m\u00b2
\n2,089
\n3,100
\n2,784
\n
\n
\n
\nInflation
\n2.0%
\n2.0%
\n2.0%
\n
\n
\n
\nDiscount rate
\n7.2%
\n8.1%
\n7.7%
\n Residual maturity (year) 3 17 12
\nIreland
\n393,084
\nCapitalisation
\nERV / m\u00b2
\n47
\n351
\n219
\n
\n
\n
\nCapitalisation rate
\n4.5%
\n5.4%
\n4.9%
\n
\n
\n
\nResidual maturity (year)
\n18
\n25
\n23
\nSpain \u00b2
\n2,578
\nDCF
\nERV / m\u00b2
\n0
\n0
\n0
\nDEVELOPMENT PROJECTS 168,950 DCF & Capitalisation ERV / m\u00b2 6 430 162
\n
\n
\n
\nInflation
\n2.0%
\n2.1%
\n1.7%
\n
\n
\n
\nDiscount rate
\n4.4%
\n8.7%
\n5.1%
\n
\n
\n
\nCapitalisation rate
\n3.6%
\n6.7%
\n5.2%
\n
\n
\n
\nResidual maturity (year)
\n10
\n31
\n6
\nTotal
\n5,756,672
\n
\n
\n
\n
\n
\n
\n1. ERV / m\u00b2: This ratio, expressed in local currency, is obtained by averaging by country the following calculation per
\nasset: fair value weighted ERV/square metres. The ERV/m\u00b2 can be converted to Group currency based on the
\nexchange rate of 31 December 2023 (0.86632 \u20ac/\u00a3 and 11.14082 \u20ac/SEK).
\n2. Spain: No unobservable data is disclosed as there are no operational marketable investment properties as at
\n31 December 2023.
\n
\n\n\n\n\nType of asset
\nFair value as at 31/12/2022
\n(x \u20ac1,000)
\nAssessment method
\nUnobservable data \u00b9
\nMin
\nMax
\nWeighted
\naverage
\nHEALTHCARE REAL ESTATE 5,449,104
\n
\n
\n
\n
\n
\nBelgium
\n1,299,390
\nDCF & Capitalisation
\nERV / m\u00b2
\n90
\n250
\n133
\n
\n
\n
\nInflation
\n2.3%
\n2.4%
\n2.3%
\n
\n
\n
\nDiscount rate
\n4.9%
\n8.4%
\n6.1%
\n
\n
\n
\nCapitalisation rate
\n4.0%
\n8.2%
\n5.0%
\n
\n
\n Residual maturity (year) 3 29 20
\nNetherlands
\n640,102
\nDCF & Capitalisation
\nERV / m\u00b2
\n42
\n313
\n141
\n
\n
\n
\nInflation
\n2.0%
\n3.0%
\n3.0%
\n
\n
\n
\nDiscount rate
\n4.5%
\n8.0%
\n5.9%
\n
\n
\n
\nCapitalisation rate 4.5% 5.2% 4.7%
\n
\n
\n
\nResidual maturity (year)
\n8
\n25
\n17
\nGermany
\n1,197,566
\nDCF
\nERV / m\u00b2
\n32
\n210
\n118
\n
\n
\n
\nInflation
\n2.0%
\n2.0%
\n2.0%
\n
\n
\n
\nDiscount rate 3.8% 7.4% 5.3%
\n
\n
\n
\nResidual maturity (year)
\n1
\n30
\n22
\nUnited Kingdom
\n959,740
\nCapitalisation
\nERV / m\u00b2
\n63
\n350
\n184
\n
\n
\n
\nCapitalisation rate
\n4.1%
\n14.5%
\n5.5%
\n
\n Residual maturity (year) 11 35 22
\nFinland
\n984,800
\nDCF
\nERV / m\u00b2
\n127
\n322
\n220
\n
\n
\n
\nInflation
\n2.0%
\n2.0%
\n2.0%
\n
\n
\n
\nDiscount rate
\n4.1%
\n9.8%
\n4.8%
\n
\n Residual maturity (year) 0 25 12
\nSweden
\n76,880
\nDCF
\nERV / m\u00b2
\n2,195
\n3,547
\n2,626
\n
\n
\n
\nInflation
\n2.0%
\n2.0%
\n2.0%
\n
\n
\n
\nDiscount rate
\n6.7%
\n7.2%
\n7.0%
\n Residual maturity (year) 1 18 12
\nIreland
\n289,126
\nCapitalisation
\nERV / m\u00b2
\n47
\n351
\n239
\n
\n
\n
\nCapitalisation rate
\n4.5%
\n5.0%
\n4.9%
\n
\n
\n
\nResidual maturity (year)
\n19
\n25
\n24
\nSpain \u00b2
\n1,500
\nDCF
\nERV / m\u00b2
\n0
\n0
\n0
\nDEVELOPMENT PROJECTS 184,295 DCF & Capitalisation ERV / m\u00b2 8 275 143
\n
\n
\n
\nInflation
\n1.4%
\n3.0%
\n1.5%
\n
\n
\n
\nDiscount rate
\n3.3%
\n8.0%
\n2.6%
\n
\n
\n
\nCapitalisation rate
\n4.3%
\n7.6%
\n4.8%
\n
\n
\n
\nResidual maturity (year)
\n12
\n30
\n12
\nTotal
\n5,633,399
\n
\n
\n
\n
\n
\n
\n1. ERV / m\u00b2: This ratio, expressed in local currency, is obtained by averaging by country the following calculation per
\nasset: fair value weighted ERV/square metres. The ERV/m\u00b2 can be converted to Group currency based on the
\nexchange rate of 31 December 2022 (0.88617 \u20ac/\u00a3 and 11.17069 \u20ac/SEK).
\n2. Spain: No unobservable data is disclosed as there are no operational marketable investment properties as at
\n31 December 2022.
\n
\n\n\n\n\nNote 38: Acquisitions & disposals of investment properties
\nThe main acquisitions of investment properties of 2023 \u2013 which are detailed in section 1.1 of the \u2018Financial
\nreview\u2019 chapter \u2013 are the following:
\nACQUISITIONS
\nCountry
\nProperties
\nvaluation at
\nfair value
\n1
\n
\nAcquisition
\ndate
\n2
\n
\nAcquisition method
\n(in \u20ac million)
\n
\nNokia T\u00e4htisumunkatu
\nFI
\n0
\n26/01/2023
\nAcquisition of a plot of land & project
\nSalo Linnankoskentie
\nFI
\n0
\n07/03/2023
\nAcquisition of a plot of land & project
\nHelsinki Landbontie
\nFI
\n1
\n23/04/2023
\nAcquisition of a plot of land & project
\nZamora Av. de Valladolid
\nFI
\n2
\n28/04/2023
\nAcquisition of a building & project
\nVantan Haravakuja
\nFI
\n0
\n28/04/2023
\nAcquisition of a plot of land & project
\nEspoo Palstalaisentie
\nFI
\n0
\n23/05/2023
\nAcquisition of a plot of land & project
\nHollola Kulmatie
\nFI
\n0
\n23/05/2023
\nAcquisition of a plot of land & project
\nOulu Siilotie K21 FI 1 30/05/2023 Acquisition of a plot of land & project
\nNorby 31:78
\nSE
\n0
\n30/05/2023
\nAcquisition of a plot of land & project
\nClondalkin Nursing Home
\nIE
\n35
\n27/07/2023
\nAcquisition of a building
\nBree Witte Torenstraat
\nBE
\n2
\n14/09/2023
\nAcquisition of a plot of land
\n\u00d6ster\u00e5ker Sing\u00f6 10:2
\nSE
\n2
\n13/10/2023
\nAcquisition of a building
\nBergshammar Ekeby 6:66
\nSE
\n2
\n13/10/2023
\nAcquisition of a building
\nOulu M\u00e4ntypellonpolku
\nFI
\n7
\n29/12/2023
\nAcquisition of a building
\nRovaniemi Koulukaari
\nFI
\n4
\n29/12/2023
\nAcquisition of a building
\nTOTAL 58
\n
\n1. in order to determine the number of shares issued, the exchange ratio and/or the value of the acquired shares.
\n2. and consolidation date in the financial statements.
\n
\n
\n
\nThe main disposals of the financial year are the following:
\nDISPOSALS
\nDate
\nSelling price
\n(\u20ac million)
\nBelgium
\n
\n37.5
\nBel-Air
\n30/10/2023
\n
\nJardins de Provence
\n30/10/2023
\n
\nNew Philip
\n30/10/2023
\n
\nR\u00e9sidence du Golf
\n30/10/2023
\n
\nR\u00e9sidence Service
\n29/11/2023
\n
\nNetherlands 2.4
\nHilversum SVE
\n02/10/2023
\n
\nUnited Kingdom
\n
\n8.8
\nHilltop Manor
\n23/03/2023
\n
\nCromwell Court
\n23/03/2023
\n
\nFinland
\n
\n25.6
\nKalajoki Hannilantie
\n20/06/2023
\n
\nKajaani Valonkatu
\n20/06/2023
\n
\nKontiolahti P\u00e4iv\u00e4per 20/06/2023
\nKotka Loitsutie
\n20/06/2023
\n
\nMikkeli Yl\u00e4nnetie 10
\n20/06/2023
\n
\nOulu Paulareitti
\n20/06/2023
\n
\nSastamela Tyrv\u00e4\u00e4nkyl
\n20/06/2023
\n
\nVarkaus Kaura-ahonti
\n20/06/2023
\n
\nVarkaus Savontie
\n20/06/2023
\n
\nYlivieska Alpuuminti 20/06/2023
\nTOTAL
\n
\n74.3
\n
\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfInvestmentPropertyExplanatory",
"language": "en",
"entity": "scheme:529900DTKNXL0AXQFN28",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
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},
"Tag720": {
"value": "\n
\n\nNote 23: Other tangible assets
\n
\n(x \u20ac1,000)
\n31/12/2023
\n31/12/2022
\nGross value at beginning of the period
\n6,652
\n5,513
\nDepreciation at beginning of period -4,079 -3,144
\nCarrying amount at beginning of period
\n2,573
\n2,369
\nAdditions
\n1,191
\n1,519
\nDisposals
\n-137
\n-379
\nDepreciations to income statement
\n-1,518
\n-1,272
\nDepreciations related to acquisitions and disposals
\n74
\n337
\nCARRYING AMOUNT AT END OF PERIOD
\n2,184
\n2,573
\nof which: Gross value (excl. IFRS 16)
\n2,790
\n2,679
\nRight of use assets (in accordance with IFRS 16) 4,917 3,973
\nDepreciations (excl. IFRS 16)
\n-2,319
\n-1,958
\nDepreciations on right of use assets (in accordance with IFRS 16)
\n-3,203
\n-2,121
\n
\nDepreciation is recognised in income under the line \u2018overheads\u2019 (see Note 7).
\n
\n\n\n\n\n
\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfPropertyPlantAndEquipmentExplanatory",
"language": "en",
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},
"Tag721": {
"value": "\nNote 23: Other tangible assets
\n
\n(x \u20ac1,000)
\n31/12/2023
\n31/12/2022
\nGross value at beginning of the period
\n6,652
\n5,513
\nDepreciation at beginning of period -4,079 -3,144
\nCarrying amount at beginning of period
\n2,573
\n2,369
\nAdditions
\n1,191
\n1,519
\nDisposals
\n-137
\n-379
\nDepreciations to income statement
\n-1,518
\n-1,272
\nDepreciations related to acquisitions and disposals
\n74
\n337
\nCARRYING AMOUNT AT END OF PERIOD
\n2,184
\n2,573
\nof which: Gross value (excl. IFRS 16)
\n2,790
\n2,679
\nRight of use assets (in accordance with IFRS 16) 4,917 3,973
\nDepreciations (excl. IFRS 16)
\n-2,319
\n-1,958
\nDepreciations on right of use assets (in accordance with IFRS 16)
\n-3,203
\n-2,121
\n
\nDepreciation is recognised in income under the line \u2018overheads\u2019 (see Note 7).
\n
\n\n\n\n",
"dimensions": {
"concept": "aed:DisclosureOfOtherTangibleAssetsExplanatory",
"language": "en",
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"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag722": {
"value": "\n
\n\n
\n\n
\n\n
\n\n
\n\nNote 24: Non-current financial assets and other financial liabilities
\n
\n(x \u20ac1,000)
\n31/12/2023
\n31/12/2022
\nReceivables
\n
\n
\nCollateral 309 135
\nOther non-current receivables from associates
\n24,402
\n8,900
\nOther non-current receivables
\n30
\n68
\nAvailable-for-sale financial assets
\n
\n
\nInvestments in related entities (Note 40)
\n0
\n0
\nAssets at fair value through profit or loss
\n
\n
\nHedging instruments (see Note 33)
\n73,924
\n123,219
\nOther non-current financial assets
\n
\n
\nHedging instruments (see Note 33) 0 0
\nOther
\n
\n
\nInvestments in related entities (Note 40)
\n0
\n0
\nTOTAL NON-CURRENT FINANCIAL ASSETS
\n98,665
\n132,322
\n
\n
\n
\nLiabilities at fair value through profit or loss
\n
\n
\nHedging instruments (see Note 33)
\n-7,841
\n-2,299
\nOther
\n-6,218
\n-6,291
\nTotal non-current financial liabilities
\nHedging instruments (see Note 33)
\n-1,919
\n-1,559
\nNon current lease liability (in accordance with IFRS 16)
\n-74,965
\n-72,083
\nTOTAL OTHER NON-CURRENT FINANCIAL LIABILITIES
\n-90,943
\n-82,232
\n
\n
\n
\nTotal current financial liabilities
\n
\n
\nCurrent lease liability (in accordance with IFRS 16)
\n-2,798
\n-3,487
\nTOTAL OTHER CURRENT FINANCIAL LIABILITIES
\n-2,798
\n-3,487
\n
\nThe collateral at fair value (\u20ac309 k; 31 December 2022: \u20ac135 k) includes blocked funds in Germany, the
\nNetherlands, the United Kingdom and Finland.
\n\u2018Other non-current receivables from associates\u2019 corresponds to the receivables from MMCG 2 DEVCO 2
\nLimited and MMCG 2 DEVCO 3 Limited (subsidiaries accounted for using the equity method). Upon
\ncompletion of the buildings in 2024, Aedifica UK Ltd will acquire full ownership of the completed properties
\nby taking control of the remaining shares in the companies (see Note 17).
\nAssets and liabilities recognised at fair value through profit or loss consist primarily of hedging instruments.
\nHowever, they hedge interest rate risks. The cash flows generated by all hedges, as well as the changes in
\nfair value taken into income, are presented in Notes 14 and 16.
\nThe other liabilities recognised at fair value through profit or loss (\u20ac6,218 k; 31 December 2022: \u20ac6,291 k)
\ninclude the put options granted to non-controlling shareholders (see Notes 16 and 43).
\n
\n\n\n\n\n
\n\n\n\n\n
\n\n\n\n\n
\n\n\n\n\n
\n\n\n\n\n
\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfOtherNoncurrentAssetsExplanatory",
"language": "en",
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"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
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},
"Tag723": {
"value": "\n
\n\n
\n\n
\n\n
\n\nNote 24: Non-current financial assets and other financial liabilities
\n
\n(x \u20ac1,000)
\n31/12/2023
\n31/12/2022
\nReceivables
\n
\n
\nCollateral 309 135
\nOther non-current receivables from associates
\n24,402
\n8,900
\nOther non-current receivables
\n30
\n68
\nAvailable-for-sale financial assets
\n
\n
\nInvestments in related entities (Note 40)
\n0
\n0
\nAssets at fair value through profit or loss
\n
\n
\nHedging instruments (see Note 33)
\n73,924
\n123,219
\nOther non-current financial assets
\n
\n
\nHedging instruments (see Note 33) 0 0
\nOther
\n
\n
\nInvestments in related entities (Note 40)
\n0
\n0
\nTOTAL NON-CURRENT FINANCIAL ASSETS
\n98,665
\n132,322
\n
\n
\n
\nLiabilities at fair value through profit or loss
\n
\n
\nHedging instruments (see Note 33)
\n-7,841
\n-2,299
\nOther
\n-6,218
\n-6,291
\nTotal non-current financial liabilities
\nHedging instruments (see Note 33)
\n-1,919
\n-1,559
\nNon current lease liability (in accordance with IFRS 16)
\n-74,965
\n-72,083
\nTOTAL OTHER NON-CURRENT FINANCIAL LIABILITIES
\n-90,943
\n-82,232
\n
\n
\n
\nTotal current financial liabilities
\n
\n
\nCurrent lease liability (in accordance with IFRS 16)
\n-2,798
\n-3,487
\nTOTAL OTHER CURRENT FINANCIAL LIABILITIES
\n-2,798
\n-3,487
\n
\nThe collateral at fair value (\u20ac309 k; 31 December 2022: \u20ac135 k) includes blocked funds in Germany, the
\nNetherlands, the United Kingdom and Finland.
\n\u2018Other non-current receivables from associates\u2019 corresponds to the receivables from MMCG 2 DEVCO 2
\nLimited and MMCG 2 DEVCO 3 Limited (subsidiaries accounted for using the equity method). Upon
\ncompletion of the buildings in 2024, Aedifica UK Ltd will acquire full ownership of the completed properties
\nby taking control of the remaining shares in the companies (see Note 17).
\nAssets and liabilities recognised at fair value through profit or loss consist primarily of hedging instruments.
\nHowever, they hedge interest rate risks. The cash flows generated by all hedges, as well as the changes in
\nfair value taken into income, are presented in Notes 14 and 16.
\nThe other liabilities recognised at fair value through profit or loss (\u20ac6,218 k; 31 December 2022: \u20ac6,291 k)
\ninclude the put options granted to non-controlling shareholders (see Notes 16 and 43).
\n
\n\n\n\n\n
\n\n\n\n\n
\n\n\n\n\n
\n\n\n\n\n
\n\n\n\n",
"dimensions": {
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"language": "en",
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"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag724": {
"value": "\n
\n\n
\n\n
\n\nNote 24: Non-current financial assets and other financial liabilities
\n
\n(x \u20ac1,000)
\n31/12/2023
\n31/12/2022
\nReceivables
\n
\n
\nCollateral 309 135
\nOther non-current receivables from associates
\n24,402
\n8,900
\nOther non-current receivables
\n30
\n68
\nAvailable-for-sale financial assets
\n
\n
\nInvestments in related entities (Note 40)
\n0
\n0
\nAssets at fair value through profit or loss
\n
\n
\nHedging instruments (see Note 33)
\n73,924
\n123,219
\nOther non-current financial assets
\n
\n
\nHedging instruments (see Note 33) 0 0
\nOther
\n
\n
\nInvestments in related entities (Note 40)
\n0
\n0
\nTOTAL NON-CURRENT FINANCIAL ASSETS
\n98,665
\n132,322
\n
\n
\n
\nLiabilities at fair value through profit or loss
\n
\n
\nHedging instruments (see Note 33)
\n-7,841
\n-2,299
\nOther
\n-6,218
\n-6,291
\nTotal non-current financial liabilities
\nHedging instruments (see Note 33)
\n-1,919
\n-1,559
\nNon current lease liability (in accordance with IFRS 16)
\n-74,965
\n-72,083
\nTOTAL OTHER NON-CURRENT FINANCIAL LIABILITIES
\n-90,943
\n-82,232
\n
\n
\n
\nTotal current financial liabilities
\n
\n
\nCurrent lease liability (in accordance with IFRS 16)
\n-2,798
\n-3,487
\nTOTAL OTHER CURRENT FINANCIAL LIABILITIES
\n-2,798
\n-3,487
\n
\nThe collateral at fair value (\u20ac309 k; 31 December 2022: \u20ac135 k) includes blocked funds in Germany, the
\nNetherlands, the United Kingdom and Finland.
\n\u2018Other non-current receivables from associates\u2019 corresponds to the receivables from MMCG 2 DEVCO 2
\nLimited and MMCG 2 DEVCO 3 Limited (subsidiaries accounted for using the equity method). Upon
\ncompletion of the buildings in 2024, Aedifica UK Ltd will acquire full ownership of the completed properties
\nby taking control of the remaining shares in the companies (see Note 17).
\nAssets and liabilities recognised at fair value through profit or loss consist primarily of hedging instruments.
\nHowever, they hedge interest rate risks. The cash flows generated by all hedges, as well as the changes in
\nfair value taken into income, are presented in Notes 14 and 16.
\nThe other liabilities recognised at fair value through profit or loss (\u20ac6,218 k; 31 December 2022: \u20ac6,291 k)
\ninclude the put options granted to non-controlling shareholders (see Notes 16 and 43).
\n
\n\n\n\n\n
\n\n\n\n\n
\n\n\n\n\n
\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfOtherCurrentLiabilitiesExplanatory",
"language": "en",
"entity": "scheme:529900DTKNXL0AXQFN28",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag725": {
"value": "\n
\n\n
\n\nNote 24: Non-current financial assets and other financial liabilities
\n
\n(x \u20ac1,000)
\n31/12/2023
\n31/12/2022
\nReceivables
\n
\n
\nCollateral 309 135
\nOther non-current receivables from associates
\n24,402
\n8,900
\nOther non-current receivables
\n30
\n68
\nAvailable-for-sale financial assets
\n
\n
\nInvestments in related entities (Note 40)
\n0
\n0
\nAssets at fair value through profit or loss
\n
\n
\nHedging instruments (see Note 33)
\n73,924
\n123,219
\nOther non-current financial assets
\n
\n
\nHedging instruments (see Note 33) 0 0
\nOther
\n
\n
\nInvestments in related entities (Note 40)
\n0
\n0
\nTOTAL NON-CURRENT FINANCIAL ASSETS
\n98,665
\n132,322
\n
\n
\n
\nLiabilities at fair value through profit or loss
\n
\n
\nHedging instruments (see Note 33)
\n-7,841
\n-2,299
\nOther
\n-6,218
\n-6,291
\nTotal non-current financial liabilities
\nHedging instruments (see Note 33)
\n-1,919
\n-1,559
\nNon current lease liability (in accordance with IFRS 16)
\n-74,965
\n-72,083
\nTOTAL OTHER NON-CURRENT FINANCIAL LIABILITIES
\n-90,943
\n-82,232
\n
\n
\n
\nTotal current financial liabilities
\n
\n
\nCurrent lease liability (in accordance with IFRS 16)
\n-2,798
\n-3,487
\nTOTAL OTHER CURRENT FINANCIAL LIABILITIES
\n-2,798
\n-3,487
\n
\nThe collateral at fair value (\u20ac309 k; 31 December 2022: \u20ac135 k) includes blocked funds in Germany, the
\nNetherlands, the United Kingdom and Finland.
\n\u2018Other non-current receivables from associates\u2019 corresponds to the receivables from MMCG 2 DEVCO 2
\nLimited and MMCG 2 DEVCO 3 Limited (subsidiaries accounted for using the equity method). Upon
\ncompletion of the buildings in 2024, Aedifica UK Ltd will acquire full ownership of the completed properties
\nby taking control of the remaining shares in the companies (see Note 17).
\nAssets and liabilities recognised at fair value through profit or loss consist primarily of hedging instruments.
\nHowever, they hedge interest rate risks. The cash flows generated by all hedges, as well as the changes in
\nfair value taken into income, are presented in Notes 14 and 16.
\nThe other liabilities recognised at fair value through profit or loss (\u20ac6,218 k; 31 December 2022: \u20ac6,291 k)
\ninclude the put options granted to non-controlling shareholders (see Notes 16 and 43).
\n
\n\n\n\n\n
\n\n\n\n\n
\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFinancialInstrumentsAtFairValueThroughProfitOrLossExplanatory",
"language": "en",
"entity": "scheme:529900DTKNXL0AXQFN28",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag726": {
"value": "\n
\n\nNote 24: Non-current financial assets and other financial liabilities
\n
\n(x \u20ac1,000)
\n31/12/2023
\n31/12/2022
\nReceivables
\n
\n
\nCollateral 309 135
\nOther non-current receivables from associates
\n24,402
\n8,900
\nOther non-current receivables
\n30
\n68
\nAvailable-for-sale financial assets
\n
\n
\nInvestments in related entities (Note 40)
\n0
\n0
\nAssets at fair value through profit or loss
\n
\n
\nHedging instruments (see Note 33)
\n73,924
\n123,219
\nOther non-current financial assets
\n
\n
\nHedging instruments (see Note 33) 0 0
\nOther
\n
\n
\nInvestments in related entities (Note 40)
\n0
\n0
\nTOTAL NON-CURRENT FINANCIAL ASSETS
\n98,665
\n132,322
\n
\n
\n
\nLiabilities at fair value through profit or loss
\n
\n
\nHedging instruments (see Note 33)
\n-7,841
\n-2,299
\nOther
\n-6,218
\n-6,291
\nTotal non-current financial liabilities
\nHedging instruments (see Note 33)
\n-1,919
\n-1,559
\nNon current lease liability (in accordance with IFRS 16)
\n-74,965
\n-72,083
\nTOTAL OTHER NON-CURRENT FINANCIAL LIABILITIES
\n-90,943
\n-82,232
\n
\n
\n
\nTotal current financial liabilities
\n
\n
\nCurrent lease liability (in accordance with IFRS 16)
\n-2,798
\n-3,487
\nTOTAL OTHER CURRENT FINANCIAL LIABILITIES
\n-2,798
\n-3,487
\n
\nThe collateral at fair value (\u20ac309 k; 31 December 2022: \u20ac135 k) includes blocked funds in Germany, the
\nNetherlands, the United Kingdom and Finland.
\n\u2018Other non-current receivables from associates\u2019 corresponds to the receivables from MMCG 2 DEVCO 2
\nLimited and MMCG 2 DEVCO 3 Limited (subsidiaries accounted for using the equity method). Upon
\ncompletion of the buildings in 2024, Aedifica UK Ltd will acquire full ownership of the completed properties
\nby taking control of the remaining shares in the companies (see Note 17).
\nAssets and liabilities recognised at fair value through profit or loss consist primarily of hedging instruments.
\nHowever, they hedge interest rate risks. The cash flows generated by all hedges, as well as the changes in
\nfair value taken into income, are presented in Notes 14 and 16.
\nThe other liabilities recognised at fair value through profit or loss (\u20ac6,218 k; 31 December 2022: \u20ac6,291 k)
\ninclude the put options granted to non-controlling shareholders (see Notes 16 and 43).
\n
\n\n\n\n\n
\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfCollateralExplanatory",
"language": "en",
"entity": "scheme:529900DTKNXL0AXQFN28",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag727": {
"value": "\nNote 24: Non-current financial assets and other financial liabilities
\n
\n(x \u20ac1,000)
\n31/12/2023
\n31/12/2022
\nReceivables
\n
\n
\nCollateral 309 135
\nOther non-current receivables from associates
\n24,402
\n8,900
\nOther non-current receivables
\n30
\n68
\nAvailable-for-sale financial assets
\n
\n
\nInvestments in related entities (Note 40)
\n0
\n0
\nAssets at fair value through profit or loss
\n
\n
\nHedging instruments (see Note 33)
\n73,924
\n123,219
\nOther non-current financial assets
\n
\n
\nHedging instruments (see Note 33) 0 0
\nOther
\n
\n
\nInvestments in related entities (Note 40)
\n0
\n0
\nTOTAL NON-CURRENT FINANCIAL ASSETS
\n98,665
\n132,322
\n
\n
\n
\nLiabilities at fair value through profit or loss
\n
\n
\nHedging instruments (see Note 33)
\n-7,841
\n-2,299
\nOther
\n-6,218
\n-6,291
\nTotal non-current financial liabilities
\nHedging instruments (see Note 33)
\n-1,919
\n-1,559
\nNon current lease liability (in accordance with IFRS 16)
\n-74,965
\n-72,083
\nTOTAL OTHER NON-CURRENT FINANCIAL LIABILITIES
\n-90,943
\n-82,232
\n
\n
\n
\nTotal current financial liabilities
\n
\n
\nCurrent lease liability (in accordance with IFRS 16)
\n-2,798
\n-3,487
\nTOTAL OTHER CURRENT FINANCIAL LIABILITIES
\n-2,798
\n-3,487
\n
\nThe collateral at fair value (\u20ac309 k; 31 December 2022: \u20ac135 k) includes blocked funds in Germany, the
\nNetherlands, the United Kingdom and Finland.
\n\u2018Other non-current receivables from associates\u2019 corresponds to the receivables from MMCG 2 DEVCO 2
\nLimited and MMCG 2 DEVCO 3 Limited (subsidiaries accounted for using the equity method). Upon
\ncompletion of the buildings in 2024, Aedifica UK Ltd will acquire full ownership of the completed properties
\nby taking control of the remaining shares in the companies (see Note 17).
\nAssets and liabilities recognised at fair value through profit or loss consist primarily of hedging instruments.
\nHowever, they hedge interest rate risks. The cash flows generated by all hedges, as well as the changes in
\nfair value taken into income, are presented in Notes 14 and 16.
\nThe other liabilities recognised at fair value through profit or loss (\u20ac6,218 k; 31 December 2022: \u20ac6,291 k)
\ninclude the put options granted to non-controlling shareholders (see Notes 16 and 43).
\n
\n\n\n\n\n
\n\n
\n\nNote 33: Hedging instruments
\nAedifica takes on a large proportion of its financial debts at floating rates and is therefore able, where
\nappropriate, to benefit from low interest rates on the unsecured portion of its borrowings. In order to limit the
\ninterest rate risk, Aedifica has put in place hedges that allow for the conversion of floating-rate debt to fixed-
\nrate debt, or to capped-rate debt (\u2018cash flow hedges\u2019).
\nFurthermore, the acquisition of the healthcare real estate portfolio in the United Kingdom in February 2019
\nhas exposed the Group to foreign exchange rate risk.
\nThe foreign exchange rate risk is partly hedged by loans denominated in pound sterling, providing a natural
\nhedge against exposure to assets in the United Kingdom: on the one hand by a private placement of
\n\u00a3180 million and on the other hand by bank loans totalling \u00a3160 million (see Note 36).
\n
\nNote 33.1: Management of interest rate risk
\n1.1 Framework
\nAll hedges (interest rate swaps or \u2018IRS\u2019 and caps) are related to existing or highly probable risks. Aedifica
\napplies hedge accounting to some derivatives initiated before 2017 that meet the criteria to allow hedge
\naccounting. From 2017, in line with market practice, Aedifica chose not to apply hedge accounting to
\nderivatives, even if they meet those strict criteria. The change in the fair value of the financial derivatives has
\nno impact on EPRA Earnings, the main KPI for dividend distribution, and therefore the application of hedge
\naccounting has limited added value.
\nNevertheless, all derivatives provide economic hedging against interest rate risk, regardless of their
\naccounting method. All hedges are provided in the framework of the hedging policy set out in Note 36. The
\nfair value of these instruments is assessed on the basis of the present value of the estimated expected cash
\nflows based on market data. This fair value is adjusted in accordance with IFRS 13 to reflect the company\u2019s
\nown credit risk (\u2018debit valuation adjustment\u2019 or \u2018DVA\u2019) and the counterparty\u2019s credit risk (\u2018credit valuation
\nadjustment\u2019 or \u2018CVA\u2019). The tables below list the Company\u2019s hedging instruments.
\n
\n
\nINSTRUMENT Notional
\namount
\n(x 1,000)
\nBeginning Periodicity
\n(months)
\nDuration
\n(years)
\nHedge
\naccounting
\n(yes/no)
\nInterest
\nrate
\n(in %)
\nFair
\nvalue
\n(x \u20ac1,000)
\nAnalysis as at
\n31/12/2022
\nIRS
\n\u20ac25,000
\n02/08/2019
\n3
\n8
\nYes
\n0.33
\n2,972
\nIRS \u20ac50,000 01/01/2021 3 3 No 0.80 1,170
\nIRS
\n\u20ac50,000
\n03/01/2022
\n3
\n2
\nNo
\n0.73
\n1,203
\nIRS
\n\u20ac25,000
\n02/05/2019
\n3
\n6
\nYes
\n1.10
\n1,303
\nIRS
\n\u20ac50,000
\n01/02/2022
\n3
\n2
\nNo
\n0.34
\n1,511
\nIRS
\n\u20ac25,000
\n01/07/2019
\n3
\n6
\nNo
\n1.69
\n916
\nIRS
\n\u20ac50,000
\n01/07/2024
\n3
\n4
\nNo
\n0.08
\n5,302
\nIRS
\n\u20ac50,000
\n02/01/2023
\n3
\n2
\nNo
\n2.80
\n445
\nIRS
\n\u20ac50,000
\n02/01/2023
\n3
\n2
\nNo
\n2.67
\n568
\nIRS
\n\u20ac50,000
\n02/01/2023
\n3
\n5
\nNo
\n2.50
\n1,399
\nIRS
\n1
\n
\n\u20ac2,625
\n30/09/2019
\n3
\n12
\nNo
\n1.55
\n173
\nIRS
\n\u20ac50,000
\n01/01/2021
\n3
\n2
\nYes
\n0.64
\n1
\nIRS
\n2
\n
\n\u20ac8,778
\n01/04/2011
\n3
\n32
\nYes
\n4.89
\n-1,559
\nIRS
\n\u20ac25,000
\n03/02/2020
\n3
\n10
\nYes
\n0.66
\n3,615
\nIRS
\n\u20ac15,000
\n01/07/2019
\n3
\n10
\nNo
\n2.01
\n945
\nIRS
\n\u20ac8,000
\n01/07/2019
\n3
\n10
\nNo
\n2.05
\n485
\nIRS \u20ac12,000 01/07/2019 3 10 No 1.99 767
\nIRS
\n\u20ac50,000
\n01/02/2022
\n3
\n3
\nNo
\n0.46
\n2,830
\nIRS
\n2
\n
\n\u20ac20,404
\n31/07/2014
\n3
\n29
\nNo
\n4.39
\n-2,299
\nIRS
\n\u20ac25,000
\n03/07/2019
\n3
\n10
\nNo
\n1.04
\n3,106
\nIRS
\n\u20ac200,000
\n01/07/2024
\n3
\n4
\nNo
\n-0.02
\n21,937
\nIRS
\n\u20ac50,000
\n01/01/2023
\n3
\n3
\nNo
\n1.58
\n2,276
\nIRS
\n\u20ac50,000
\n01/11/2019
\n3
\n5
\nYes
\n0.78
\n2,217
\nIRS
\n\u20ac50,000
\n03/01/2022
\n3
\n1
\nNo
\n0.65
\n1
\nIRS
\n\u20ac50,000
\n03/02/2025
\n3
\n4
\nNo
\n0.15
\n5,005
\nIRS
\n\u20ac100,000
\n01/07/2024
\n3
\n4
\nNo
\n0.07
\n10,654
\nIRS
\n\u20ac50,000
\n01/07/2024
\n3
\n4
\nNo
\n0.12
\n5,233
\nIRS
\n\u20ac50,000
\n02/01/2023
\n3
\n4
\nNo
\n1.30
\n3,435
\nIRS
\n\u20ac50,000
\n02/01/2025
\n3
\n4
\nNo
\n0.05
\n5,219
\nIRS
\n\u20ac50,000
\n02/01/2025
\n3
\n4
\nNo
\n0.06
\n5,201
\nIRS
\n\u00a350,000
\n28/07/2022
\n3
\n5
\nNo
\n2.46
\n3,734
\nIRS
\n\u00a360,000
\n07/07/2022
\n3
\n5
\nNo
\n2.43
\n4,535
\nIRS
\n\u00a350,000
\n28/07/2022
\n3
\n5
\nNo
\n2.29
\n4,111
\nIRS \u20ac7,500 03/12/2018 1 5 No 0.46 182
\nIRS
\n\u20ac5,000
\n11/12/2018
\n1
\n5
\nNo
\n0.66
\n115
\nIRS
\n\u20ac7,500
\n03/12/2018
\n3
\n5
\nNo
\n0.47
\n181
\nIRS
\n\u20ac5,000
\n27/12/2018
\n6
\n5
\nNo
\n0.70
\n123
\nIRS
\n\u20ac10,000
\n19/03/2019
\n6
\n5
\nNo
\n0.83
\n283
\nIRS
\n\u20ac15,000
\n31/03/2020
\n1
\n5
\nNo
\n0.46
\n923
\nIRS
\n\u20ac10,000
\n01/12/2018
\n1
\n5
\nNo
\n0.63
\n226
\nCAP
\n\u20ac200,000
\n01/01/2024
\n3
\n1
\nNo
\n-
\n3,386
\nCAP
\n\u20ac100,000
\n04/01/2021
\n3
\n4
\nNo
\n0.25
\n5,895
\nCAP
\n\u20ac100,000
\n01/07/2021
\n3
\n3
\nNo
\n-
\n4,819
\nCAP
\n\u20ac50,000
\n01/07/2021
\n3
\n3
\nNo
\n-
\n2,409
\nCAP
\n\u20ac50,000
\n01/07/2021
\n3
\n3
\nNo
\n-
\n2,409
\nTOTAL
\n3
\n
\n\u20ac2,082,359
\n
\n
\n
\n
\n
\n119,361
\n
\n1. Notional amount depreciable over the duration of the swap.
\n2. Notional amount depreciable over the duration of the swap. Aedifica and the bank may liquidate in advance these
\ncontracts every 10 years.
\n3. Notional amounts in \u00a3 are converted into \u20ac based on the exchange rate of 31 December 2022 (0.88617 \u20ac/\u00a3).
\n
\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n
\n\n
\n\nINSTRUMENT Notional
\namount
\n(x 1,000)
\nBeginning Periodicity
\n(months)
\nDuration
\n(years)
\nHedge
\naccounting
\n(yes/no)
\nInterest
\nrate
\n(in %)
\nFair
\nvalue
\n(x \u20ac1,000)
\nAnalysis as at
\n31/12/2023
\nIRS
\n\u20ac25,000
\n02/08/2019
\n3
\n8
\nYes
\n0.33
\n1,750
\nIRS \u20ac50,000 01/01/2021 3 3 No 0.80 12
\nIRS
\n\u20ac50,000
\n03/01/2022
\n3
\n2
\nNo
\n0.73
\n12
\nIRS
\n\u20ac25,000
\n02/05/2019
\n3
\n6
\nYes
\n1.10
\n691
\nIRS
\n\u20ac50,000
\n01/02/2022
\n3
\n2
\nNo
\n0.34
\n163
\nIRS
\n\u20ac25,000
\n01/07/2019
\n3
\n6
\nNo
\n1.69
\n453
\nIRS
\n\u20ac50,000
\n01/07/2024
\n3
\n4
\nNo
\n0.08
\n3,856
\nIRS
\n\u20ac50,000
\n02/01/2023
\n3
\n2
\nNo
\n2.80
\n238
\nIRS
\n\u20ac50,000
\n02/01/2023
\n3
\n2
\nNo
\n2.67
\n302
\nIRS
\n\u20ac50,000
\n02/01/2023
\n3
\n5
\nNo
\n2.50
\n-320
\nIRS
\n\u20ac50,000
\n01/04/2025
\n3
\n3
\nNo
\n2.50
\n-713
\nIRS
\n1
\n
\n\u20ac2,333
\n30/09/2019
\n3
\n12
\nNo
\n1.55
\n76
\nIRS
\n2
\n
\n\u20ac8,523
\n01/04/2011
\n3
\n32
\nYes
\n4.89
\n-1,920
\nIRS
\n\u20ac25,000
\n03/02/2020
\n3
\n10
\nYes
\n0.66
\n2,166
\nIRS
\n\u20ac15,000
\n01/07/2019
\n3
\n10
\nNo
\n2.01
\n230
\nIRS
\n\u20ac8,000
\n01/07/2019
\n3
\n10
\nNo
\n2.05
\n106
\nIRS \u20ac12,000 01/07/2019 3 10 No 1.99 194
\nIRS
\n\u20ac50,000
\n01/02/2022
\n3
\n3
\nNo
\n0.46
\n1,498
\nIRS
\n2
\n
\n\u20ac19,421
\n31/07/2014
\n3
\n29
\nNo
\n4.39
\n-3,071
\nIRS
\n\u20ac25,000
\n03/07/2019
\n3
\n10
\nNo
\n1.04
\n1,704
\nIRS
\n\u20ac200,000
\n01/07/2024
\n3
\n4
\nNo
\n-0.02
\n16,260
\nIRS
\n\u20ac50,000
\n01/01/2023
\n3
\n3
\nNo
\n1.58
\n1,070
\nIRS
\n\u20ac50,000
\n01/01/2023
\n3
\n5
\nNo
\n2.69
\n-695
\nIRS
\n\u20ac50,000
\n01/11/2019
\n3
\n5
\nYes
\n0.78
\n1,110
\nIRS
\n\u20ac50,000
\n03/02/2025
\n3
\n4
\nNo
\n0.15
\n3,500
\nIRS
\n\u20ac100,000
\n01/07/2024
\n3
\n4
\nNo
\n0.07
\n7,776
\nIRS
\n\u20ac50,000
\n01/07/2024
\n3
\n4
\nNo
\n0.12
\n3,790
\nIRS
\n\u20ac50,000
\n02/01/2023
\n3
\n4
\nNo
\n1.30
\n1,621
\nIRS
\n\u20ac50,000
\n03/04/2023
\n3
\n2
\nNo
\n3.08
\n3
\nIRS
\n\u20ac50,000
\n02/01/2025
\n3
\n3
\nNo
\n2.56
\n-798
\nIRS
\n\u20ac50,000
\n02/01/2025
\n3
\n4
\nNo
\n0.05
\n3,730
\nIRS
\n\u20ac50,000
\n02/01/2025
\n3
\n4
\nNo
\n0.06
\n3,674
\nIRS
\n\u20ac50,000
\n02/01/2026
\n3
\n3
\nNo
\n2.44
\n-549
\nIRS \u20ac50,000 01/01/2023 3 5 No 2.59 -489
\nIRS
\n\u20ac50,000
\n01/01/2025
\n3
\n3
\nNo
\n2.85
\n-1,205
\nIRS
\n\u00a350,000
\n28/07/2022
\n3
\n5
\nNo
\n2.46
\n2,039
\nIRS
\n\u00a360,000
\n07/07/2022
\n3
\n5
\nNo
\n2.43
\n2,511
\nIRS
\n\u00a350,000
\n28/07/2022
\n3
\n5
\nNo
\n2.29
\n2,352
\nIRS
\n\u20ac10,000
\n19/03/2019
\n6
\n5
\nNo
\n0.83
\n70
\nIRS
\n\u20ac15,000
\n31/03/2020
\n1
\n5
\nNo
\n0.46
\n512
\nCAP
\n\u20ac200,000
\n01/01/2024
\n3
\n1
\nNo
\n0.00
\n3,690
\nCAP
\n\u20ac100,000
\n04/01/2021
\n3
\n4
\nNo
\n0.25
\n3,018
\nCAP
\n\u20ac100,000
\n01/07/2021
\n3
\n3
\nNo
\n0.00
\n1,871
\nCAP
\n\u20ac50,000
\n01/07/2021
\n3
\n3
\nNo
\n0.00
\n938
\nCAP
\n\u20ac50,000
\n01/07/2021
\n3
\n3
\nNo
\n0.00
\n938
\nTOTAL
\n3
\n
\n\u20ac2,299,966
\n
\n
\n
\n
\n
\n64,164
\n
\n1. Notional amount depreciable over the duration of the swap.
\n2. Notional amount depreciable over the duration of the swap. Aedifica and the bank may liquidate in advance these
\ncontracts every 10 years.
\n3. Notional amounts in \u00a3 are converted into \u20ac based on the exchange rate of 31 December 2023 (0.86632 \u20ac/\u00a3).
\n
\nThe total notional amount of \u20ac2,300 million presented in the table above is broken down as follows:
\n\u2022 operational and active instruments: \u20ac1,350 million, of which \u20ac300 million caps;
\n\u2022 instruments with forward start: \u20ac950 million.
\nThe total fair value of the hedging instruments presented in the table above (+\u20ac64,164 k) can be broken down
\nas follows: \u20ac73,924 k on line I.E. of the asset side of the consolidated balance sheet and \u20ac9,760 k on line
\nI.C.a. of the liability side of the consolidated balance sheet. Taking into account the carrying amount of the
\nupfront premiums paid for the caps (\u20ac256 k), the effect of the changes in fair value of interest rate hedging
\ninstruments on equity amounts to \u20ac63,908 k.
\n1.2 Derivatives for which hedge accounting is applied
\n
\n(x \u20ac1,000)
\n31/12/2023
\n31/12/2022
\nChanges in fair value of the derivatives
\n
\n
\nBeginning of the year
\n9,574
\n-11,514
\nChanges in the effective portion of the fair value of hedging instruments
\n(accrued interests)
\n-2,293 17,972
\nTransfer to the income statement of interests paid on hedging instruments
\n-2,459
\n3,258
\nTransfer to the reserve account regarding revoked designation
\n0
\n38
\nTransfer to the reserve account of the net gain or loss on matured hedges
\n-180
\n-180
\nAT YEAR-END
\n4,642
\n9,574
\n
\nThe amounts recorded in equity will be transferred to net finance costs in line with the payment of interest on
\nthe hedged financial debt, between 1 January 2024 and 31 July 2043.
\nThe year-end equity value includes the effective part (as defined in IFRS 9) of the change in fair value (loss of
\n\u20ac4,752 k) of the financial instruments corresponding to the derivatives for which hedge accounting may be
\napplied, and the ineffective portion of the 2022 financial year (income of \u20ac34 k) that was appropriated in 2023
\nby decision of the Annual General Meeting held in May 2023. These financial instruments are \u2018level 2\u2019
\nderivatives (according to IFRS 13p81). The ineffective part (according to IAS 39) is nil as at 31 December
\n2023.
\n1.3 Derivatives for which hedge accounting is not applied
\nThe financial result includes a loss of \u20ac50,249 k (31 December 2022: an income of \u20ac124,962 k), arising from
\nthe change in the fair value of derivatives for which hedge accounting is not applied (in line with IFRS 9, as
\nlisted in the aforementioned framework) and the linear amortisation of the fair value of terminated derivatives
\nas of their date of termination, which amounts to a loss of \u20ac300 k (31 December 2022: a loss of \u20ac711 k) (see
\nNote 16). The latter is recognised on line \u2018II. H. Other comprehensive income, net of taxes\u2019 of the Consolidated
\nStatement of Comprehensive Income. These financial instruments are \u2018level 2\u2019 derivatives (as defined in
\nIFRS 13p81). The financial result also includes the amortisation of the premiums paid at the time of the
\nsubscription to the caps, which amounts to \u20ac198 k (31 December 2022: \u20ac258 k).
\n
\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n1.4 Sensitivity analysis
\nThe fair value of the hedging instruments is determined by the interest rates on the financial markets. These
\nchanges partly explain the change in the fair value of the hedging instruments between 1 January 2023 and
\n31 December 2023. This resulted in a loss of \u20ac50,548 k, recognised in the income statement, and to a loss of
\n\u20ac4,452 k, recognised in equity.
\nA change in the interest rate curve would impact the fair value of instruments for which hedge accounting is
\napplied (in accordance with IFRS 9), and recognised in equity (line \u2018I.C.d. Reserve for the balance of changes
\nin fair value of authorised hedging instruments qualifying for hedge accounting as defined under IFRS\u2019). All
\nelse being equal, a positive change of 10 bps of the interest rate curve at the balance sheet date would have
\na positive impact on equity in the amount of \u20ac367 k (\u20ac466 k on 31 December 2022). A negative change of
\n10 bps would have a negative impact in the same range. The impact of a change in the interest rate on the
\nfair value of the instruments for which hedge accounting is not applied cannot be determined as precisely,
\nsince options can be embedded within these instruments. The fair value of these options will change in a non-
\nsymmetric and non-linear pattern, and is a function of other parameters (e.g. volatility of interest rates). The
\nsensitivity of the \u2018mark-to-market\u2019 value of these instruments to an increase of 10 bps of the interest rate is
\nestimated to have a positive impact of \u20ac4,801 k (\u20ac4,468 k on 31 December 2022) on the income statement.
\nA decrease of 10 bps in the interest rate would have a negative impact of \u20ac4,802 k on the income statement
\n(\u20ac4,493 k on 31 December 2022).
\n
\nNote 33.2: Management of foreign exchange risk
\nAll hedges (forward purchase contracts of foreign currencies) are related to existing or highly probable risks.
\nThe hedging instruments are derivatives for which Aedifica will not systematically apply hedge accounting
\nand which provide economic hedging against foreign exchange risk. All hedges are provided in the framework
\nof the hedging policy set out in Note 36. The fair value of these instruments is assessed on the basis of the
\npresent value of the estimated cash flows based on market data. These financial instruments are \u2018level 2\u2019
\nderivatives (according to IFRS 13p81). As of 31 December 2023, Aedifica had no hedging contracts in place.
\nDuring the financial year, cash flows linked to Aedifica\u2019s external debt denominated in pound sterling have
\npartially offset net cash flows resulting from financial income from intra-group loans, other intra-group
\nrevenues and capital expenditures in the United Kingdom.
\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFinancialInstrumentsExplanatory",
"language": "en",
"entity": "scheme:529900DTKNXL0AXQFN28",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag763": {
"value": "\nNote 26: Trade receivables
\n
\n(x \u20ac1,000)
\n31/12/2023
\n31/12/2022
\nTRADE RECEIVABLES - NET VALUE
\n23,290
\n23,577
\n
\nIt is anticipated that the carrying amount of trade receivables will be recovered within twelve months. This
\ncarrying amount represents an estimate of the fair value of assets that do not generate interest.
\nThe credit risk associated with trade receivables is limited thanks to the diversity of the client base and rental
\nguarantees (\u20ac72.4 million) received from tenants to cover their commitments. In the United Kingdom, collateral
\non the companies is used as a guarantee. The carrying amount on the balance sheet is presented net of the
\nprovision for doubtful debts. Thus, the risk of exposure to credit risk is reflected in the carrying amount of
\nreceivables recognised on the balance sheet.
\nTrade receivables are analysed as follows:
\n(x \u20ac1,000)
\n31/12/2023 31/12/2022
\nunder 90 days
\n3,477
\n2,009
\nover 90 days
\n4,189
\n2,137
\nSubtotal
\n7,666
\n4,146
\nNot due
\n18,012
\n21,450
\nWrite-downs
\n-2,388
\n-2,019
\nCARRYING AMOUNT
\n23,290
\n23,577
\n
\nThe variation of write-downs is recognised in income under the line \u2018write-downs on trade receivables\u2019
\n(see Note 4).
\n
\n\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfTradeAndOtherReceivablesExplanatory",
"language": "en",
"entity": "scheme:529900DTKNXL0AXQFN28",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag764": {
"value": "\n
\n\n
\n\nNote 27: Tax receivables and other current assets
\n
\n(x \u20ac1,000)
\n31/12/2023
\n31/12/2022
\nTax
\n8,505
\n9,282
\nOther 879 991
\nTOTAL
\n9,384
\n10,273
\n
\nTax receivables are composed of tax credits.
\n
\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n",
"dimensions": {
"concept": "aed:DisclosureOfTaxReceivablesAndOtherCurrentAssetsExplanatory",
"language": "en",
"entity": "scheme:529900DTKNXL0AXQFN28",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag765": {
"value": "\n
\n\nNote 27: Tax receivables and other current assets
\n
\n(x \u20ac1,000)
\n31/12/2023
\n31/12/2022
\nTax
\n8,505
\n9,282
\nOther 879 991
\nTOTAL
\n9,384
\n10,273
\n
\nTax receivables are composed of tax credits.
\n
\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfTaxReceivablesAndPayablesExplanatory",
"language": "en",
"entity": "scheme:529900DTKNXL0AXQFN28",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag766": {
"value": "\nNote 27: Tax receivables and other current assets
\n
\n(x \u20ac1,000)
\n31/12/2023
\n31/12/2022
\nTax
\n8,505
\n9,282
\nOther 879 991
\nTOTAL
\n9,384
\n10,273
\n
\nTax receivables are composed of tax credits.
\n
\n\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfOtherCurrentAssetsExplanatory",
"language": "en",
"entity": "scheme:529900DTKNXL0AXQFN28",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag767": {
"value": "\nNote 28: Cash and cash equivalents
\n
\n(x \u20ac1,000)
\n31/12/2023
\n31/12/2022
\nShort-term deposits
\n0
\n0
\nCash at bank and in hands
\n18.253
\n13.891
\nTOTAL
\n18.253
\n13.891
\n
\n\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfCashAndCashEquivalentsExplanatory",
"language": "en",
"entity": "scheme:529900DTKNXL0AXQFN28",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag768": {
"value": "\nNote 29: Deferred charges and accrued income
\n
\n(x \u20ac1,000)
\n31/12/2023 31/12/2022
\nAccrued rental income
\n-60
\n0
\nDeferred property charges
\n1.624
\n525
\nAccrued interests and deferred financial charges
\n11.933
\n1.485
\nDeferred charges on future projects
\n4.729
\n5.513
\nOther
\n26
\n635
\nTOTAL
\n18.252
\n8.158
\n
\n\n\n\n\n\n\n\n",
"dimensions": {
"concept": "aed:DisclosureOfDeferredChargesAndAccruedIncomeExplanatory",
"language": "en",
"entity": "scheme:529900DTKNXL0AXQFN28",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag769": {
"value": "\n
\n\n
\n\nNote 30: Equity
\nAedifica has completed two capital increases during the 2023 financial year:
\n\u2022 31 May 2023: capital increase of approx. \u20ac25.5 million (including share premium) by issuing
\n379,474 new Aedifica shares in the context of the 2022 optional dividend.
\n\u2022 4 July 2023: capital increase of approx. \u20ac380.4 million (including share premium) by issuing
\n7,315,402 new Aedifica shares in the context of a capital increase in cash.
\nThe capital has evolved in the following manner since the beginning of the financial year:
\n
\nNumber of
\nshares
\nCapital
\n(x \u20ac1,000)
\nSituation at the beginning of the previous year 36,308,157 958,092
\nCapital increase of 18 May 2022
\n74,172
\n1,957
\nCapital increase of 29 June 2022
\n2,925,000
\n77,184
\nCapital increase of 6 July 2022
\n547,914
\n14,458
\nSituation at the end of the previous year
\n39,855,243
\n1,051,692
\nCapital increase of 31 May 2023
\n379,474
\n10,013
\nCapital increase of 4 July 2023
\n7,315,402
\n193,037
\nSituation at the end of the year 47,550,119 1,254,742
\n
\nCapital is presented above before subtracting the costs of raising capital (the capital value presented on the
\nbalance sheet, is shown net of these costs, in accordance with IFRS).
\nThe table below lists Aedifica\u2019s shareholders holding more than 5% of the voting rights (based on the number
\nof shares held by the shareholders concerned on 23 September 2022 \u2013 see also section 3.4 \u2018Shareholding
\nstructure\u2019 of the \u2018Financial Review\u2019 chapter). As at the closing date of this Annual Report, Aedifica has not
\nreceived any additional transparency notifications that would change the situation on 23 September 2022.
\nDeclarations of transparency and control strings are available on Aedifica\u2019s website. According to Euronext\u2019s
\ndefinition, the free float is 100%.
\nSHAREHOLDERS Voting rights
\n(in %)
\nBlackRock, Inc.
\n5.4
\nOther < 5%
\n94.6
\nTOTAL 100.0
\n
\nThe capital increases are disclosed in the \u2018Standing Documents\u2019 section of the present Annual Financial
\nReport. All subscribed shares are fully paid-up, with no par value. The shares are registered or dematerialised
\nshares and grant one vote each. All 47,550,119 shares issued as at 31 December 2023 are listed on the
\nregulated markets of Euronext Brussels and Euronext Amsterdam.
\nAs at 31 December 2023, Aedifica NV/SA holds 277 treasury shares.
\n
\n
\n\n\n\n\n\n\n\n\n
\n
\n\n\n\n\n\n\n\n\n
\n
\n\n\n\n\n\n\n\n\n
\n\n
\n\n
\nThe Board of Directors is authorised to increase the capital in one or more instalments, on the dates and in
\naccordance with the terms and conditions as will be determined by the Board of Directors, by a maximum
\namount of:
\n\u2022 1 ) 50% of the amount of the capital on the date of the extraordinary general meeting of 28 July 2022,
\nas the case may be, rounded down to the euro cent for capital increases by contribution in cash
\nwhereby the possibility is provided for the exercise of the preferential subscription right or the priority
\nallocation right by the shareholders of the Company;
\n\u2022 2 ) 20% of the amount of the capital on the date of the extraordinary general meeting of 28 July 2022,
\nas the case may be, rounded down to the euro cent for capital increases in the framework of the
\ndistribution of an optional dividend;
\n\u2022 3 ) 10% of the amount of the capital on the date of the extraordinary general meeting of 28 July 2022,
\nas the case may be, rounded down to the euro cent for a) capital increases by contribution in kind,
\nb) capital increases by contribution in cash without the possibility for the shareholders of the Company
\nto exercise the preferential right or priority allocation right, or c) any other kind of capital increase;
\nprovided that the capital within the context of the authorised capital can never be increased by an amount
\nhigher than the capital on the date of the extraordinary general meeting that approves the authorisation. This
\nauthorisation is granted for a renewable period of two years, calculated from the publication of the minutes
\nof the extraordinary general meeting of 28 July 2022, in the annexes to the Belgian Official Gazette. For each
\ncapital increase, the Board of Directors will determine the price, the issue premium (if any) and the terms and
\nconditions of issue of the new securities.
\nThe capital increases that are thus decided on by the Board of Directors may be subscribed to in cash, in
\nkind, or by means of a mixed contribution, or by incorporation of reserves, including profits carried forward
\nand issue premiums as well as all equity components under the Company\u2019s statutory IFRS financial
\nstatements (drawn up in accordance with the regulations applicable to the regulated real estate companies)
\nwhich are subject to conversion into capital, with or without the creation of new securities. These capital
\nincreases can also be realised through the issue of convertible bonds, subscription rights or bonds repayable
\nin shares or other securities which may give rise to the creation of the same securities.
\nOn 31 December 2023, the balance of the authorised capital amounts to:
\n\u2022 1 ) \u20ac332,808,521.44 for capital increases by contribution in cash whereby the possibility is provided
\nfor the exercise of the preferential subscription right or the priority allocation right by the shareholders
\nof the Company;
\n\u2022 2 ) \u20ac200,324,829.26 for capital increases in the framework of the distribution of an optional dividend;
\n\u2022 3 ) \u20ac105,169,153.57 for a. capital increases by contribution in kind, b. capital increases by contribution
\nin cash without the possibility for the shareholders of the Company to exercise the preferential right
\nor priority allocation right, or c. any other kind of capital increase;
\nprovided that the capital within the context of the authorised capital can never be increased by an amount
\nthat exceeds the legal maximum amount of the capital of \u20ac1,051,691,535.73, on the dates and in accordance
\nwith the terms and conditions as will be determined by the Board of Directors.
\n\nThe Board of Directors has proposed to distribute a dividend of \u20ac3.80 gross per share, i.e. a total dividend of
\n\u20ac166,676 k, to be divided over two coupons (coupon no. 33: \u20ac1.9156; coupon no. 34: \u20ac1.8844).
\n
\n\n\n\n\n\n\nTaking into account the Royal Decree of 13 July 2014, on 31 December 2023 the available (statutory) reserves
\ncalculated in accordance with Article 7:212 of the Companies and Associations Code amount to \u20ac1,247,298 k,
\nafter the dividend distribution proposed above (31 December 2022: \u20ac1,048,761 k). Detailed calculations are
\nprovided in the notes to the attached Abridged Statutory Accounts.
\nAedifica defines capital in accordance with IAS 1 p134 as the sum of all equity accounts. The equity level is
\nmonitored using the consolidated debt-to-assets ratio (calculated in accordance with the provisions of the
\nRoyal Decree of 13 July 2014 \u2013 see Note 41), which cannot exceed 60% according to the credit agreements
\nin place with the Company\u2019s banks (see Notes 32 & 36). Equity is monitored with a view to the continuity of
\nbusiness activities and the financing of growth.
\n
\n
\n
\n\n\n\n\n\n\n\n
\n
\n
\n\n\n\n\n\n\n\n
\n
\n
\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfShareCapitalReservesAndOtherEquityInterestExplanatory",
"language": "en",
"entity": "scheme:529900DTKNXL0AXQFN28",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag770": {
"value": "\n
\n\nNote 30: Equity
\nAedifica has completed two capital increases during the 2023 financial year:
\n\u2022 31 May 2023: capital increase of approx. \u20ac25.5 million (including share premium) by issuing
\n379,474 new Aedifica shares in the context of the 2022 optional dividend.
\n\u2022 4 July 2023: capital increase of approx. \u20ac380.4 million (including share premium) by issuing
\n7,315,402 new Aedifica shares in the context of a capital increase in cash.
\nThe capital has evolved in the following manner since the beginning of the financial year:
\n
\nNumber of
\nshares
\nCapital
\n(x \u20ac1,000)
\nSituation at the beginning of the previous year 36,308,157 958,092
\nCapital increase of 18 May 2022
\n74,172
\n1,957
\nCapital increase of 29 June 2022
\n2,925,000
\n77,184
\nCapital increase of 6 July 2022
\n547,914
\n14,458
\nSituation at the end of the previous year
\n39,855,243
\n1,051,692
\nCapital increase of 31 May 2023
\n379,474
\n10,013
\nCapital increase of 4 July 2023
\n7,315,402
\n193,037
\nSituation at the end of the year 47,550,119 1,254,742
\n
\nCapital is presented above before subtracting the costs of raising capital (the capital value presented on the
\nbalance sheet, is shown net of these costs, in accordance with IFRS).
\nThe table below lists Aedifica\u2019s shareholders holding more than 5% of the voting rights (based on the number
\nof shares held by the shareholders concerned on 23 September 2022 \u2013 see also section 3.4 \u2018Shareholding
\nstructure\u2019 of the \u2018Financial Review\u2019 chapter). As at the closing date of this Annual Report, Aedifica has not
\nreceived any additional transparency notifications that would change the situation on 23 September 2022.
\nDeclarations of transparency and control strings are available on Aedifica\u2019s website. According to Euronext\u2019s
\ndefinition, the free float is 100%.
\nSHAREHOLDERS Voting rights
\n(in %)
\nBlackRock, Inc.
\n5.4
\nOther < 5%
\n94.6
\nTOTAL 100.0
\n
\nThe capital increases are disclosed in the \u2018Standing Documents\u2019 section of the present Annual Financial
\nReport. All subscribed shares are fully paid-up, with no par value. The shares are registered or dematerialised
\nshares and grant one vote each. All 47,550,119 shares issued as at 31 December 2023 are listed on the
\nregulated markets of Euronext Brussels and Euronext Amsterdam.
\nAs at 31 December 2023, Aedifica NV/SA holds 277 treasury shares.
\n
\n
\n\n\n\n\n\n\n\n\n
\n
\n\n\n\n\n\n\n\n\n
\n\n
\nThe Board of Directors is authorised to increase the capital in one or more instalments, on the dates and in
\naccordance with the terms and conditions as will be determined by the Board of Directors, by a maximum
\namount of:
\n\u2022 1 ) 50% of the amount of the capital on the date of the extraordinary general meeting of 28 July 2022,
\nas the case may be, rounded down to the euro cent for capital increases by contribution in cash
\nwhereby the possibility is provided for the exercise of the preferential subscription right or the priority
\nallocation right by the shareholders of the Company;
\n\u2022 2 ) 20% of the amount of the capital on the date of the extraordinary general meeting of 28 July 2022,
\nas the case may be, rounded down to the euro cent for capital increases in the framework of the
\ndistribution of an optional dividend;
\n\u2022 3 ) 10% of the amount of the capital on the date of the extraordinary general meeting of 28 July 2022,
\nas the case may be, rounded down to the euro cent for a) capital increases by contribution in kind,
\nb) capital increases by contribution in cash without the possibility for the shareholders of the Company
\nto exercise the preferential right or priority allocation right, or c) any other kind of capital increase;
\nprovided that the capital within the context of the authorised capital can never be increased by an amount
\nhigher than the capital on the date of the extraordinary general meeting that approves the authorisation. This
\nauthorisation is granted for a renewable period of two years, calculated from the publication of the minutes
\nof the extraordinary general meeting of 28 July 2022, in the annexes to the Belgian Official Gazette. For each
\ncapital increase, the Board of Directors will determine the price, the issue premium (if any) and the terms and
\nconditions of issue of the new securities.
\nThe capital increases that are thus decided on by the Board of Directors may be subscribed to in cash, in
\nkind, or by means of a mixed contribution, or by incorporation of reserves, including profits carried forward
\nand issue premiums as well as all equity components under the Company\u2019s statutory IFRS financial
\nstatements (drawn up in accordance with the regulations applicable to the regulated real estate companies)
\nwhich are subject to conversion into capital, with or without the creation of new securities. These capital
\nincreases can also be realised through the issue of convertible bonds, subscription rights or bonds repayable
\nin shares or other securities which may give rise to the creation of the same securities.
\nOn 31 December 2023, the balance of the authorised capital amounts to:
\n\u2022 1 ) \u20ac332,808,521.44 for capital increases by contribution in cash whereby the possibility is provided
\nfor the exercise of the preferential subscription right or the priority allocation right by the shareholders
\nof the Company;
\n\u2022 2 ) \u20ac200,324,829.26 for capital increases in the framework of the distribution of an optional dividend;
\n\u2022 3 ) \u20ac105,169,153.57 for a. capital increases by contribution in kind, b. capital increases by contribution
\nin cash without the possibility for the shareholders of the Company to exercise the preferential right
\nor priority allocation right, or c. any other kind of capital increase;
\nprovided that the capital within the context of the authorised capital can never be increased by an amount
\nthat exceeds the legal maximum amount of the capital of \u20ac1,051,691,535.73, on the dates and in accordance
\nwith the terms and conditions as will be determined by the Board of Directors.
\n\nThe Board of Directors has proposed to distribute a dividend of \u20ac3.80 gross per share, i.e. a total dividend of
\n\u20ac166,676 k, to be divided over two coupons (coupon no. 33: \u20ac1.9156; coupon no. 34: \u20ac1.8844).
\n
\n\n\n\n\n\n\nTaking into account the Royal Decree of 13 July 2014, on 31 December 2023 the available (statutory) reserves
\ncalculated in accordance with Article 7:212 of the Companies and Associations Code amount to \u20ac1,247,298 k,
\nafter the dividend distribution proposed above (31 December 2022: \u20ac1,048,761 k). Detailed calculations are
\nprovided in the notes to the attached Abridged Statutory Accounts.
\nAedifica defines capital in accordance with IAS 1 p134 as the sum of all equity accounts. The equity level is
\nmonitored using the consolidated debt-to-assets ratio (calculated in accordance with the provisions of the
\nRoyal Decree of 13 July 2014 \u2013 see Note 41), which cannot exceed 60% according to the credit agreements
\nin place with the Company\u2019s banks (see Notes 32 & 36). Equity is monitored with a view to the continuity of
\nbusiness activities and the financing of growth.
\n
\n
\n
\n\n\n\n\n\n\n\n
\n
\n
\n\n\n\n\n\n\n",
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"value": "\nNote 30: Equity
\nAedifica has completed two capital increases during the 2023 financial year:
\n\u2022 31 May 2023: capital increase of approx. \u20ac25.5 million (including share premium) by issuing
\n379,474 new Aedifica shares in the context of the 2022 optional dividend.
\n\u2022 4 July 2023: capital increase of approx. \u20ac380.4 million (including share premium) by issuing
\n7,315,402 new Aedifica shares in the context of a capital increase in cash.
\nThe capital has evolved in the following manner since the beginning of the financial year:
\n
\nNumber of
\nshares
\nCapital
\n(x \u20ac1,000)
\nSituation at the beginning of the previous year 36,308,157 958,092
\nCapital increase of 18 May 2022
\n74,172
\n1,957
\nCapital increase of 29 June 2022
\n2,925,000
\n77,184
\nCapital increase of 6 July 2022
\n547,914
\n14,458
\nSituation at the end of the previous year
\n39,855,243
\n1,051,692
\nCapital increase of 31 May 2023
\n379,474
\n10,013
\nCapital increase of 4 July 2023
\n7,315,402
\n193,037
\nSituation at the end of the year 47,550,119 1,254,742
\n
\nCapital is presented above before subtracting the costs of raising capital (the capital value presented on the
\nbalance sheet, is shown net of these costs, in accordance with IFRS).
\nThe table below lists Aedifica\u2019s shareholders holding more than 5% of the voting rights (based on the number
\nof shares held by the shareholders concerned on 23 September 2022 \u2013 see also section 3.4 \u2018Shareholding
\nstructure\u2019 of the \u2018Financial Review\u2019 chapter). As at the closing date of this Annual Report, Aedifica has not
\nreceived any additional transparency notifications that would change the situation on 23 September 2022.
\nDeclarations of transparency and control strings are available on Aedifica\u2019s website. According to Euronext\u2019s
\ndefinition, the free float is 100%.
\nSHAREHOLDERS Voting rights
\n(in %)
\nBlackRock, Inc.
\n5.4
\nOther < 5%
\n94.6
\nTOTAL 100.0
\n
\nThe capital increases are disclosed in the \u2018Standing Documents\u2019 section of the present Annual Financial
\nReport. All subscribed shares are fully paid-up, with no par value. The shares are registered or dematerialised
\nshares and grant one vote each. All 47,550,119 shares issued as at 31 December 2023 are listed on the
\nregulated markets of Euronext Brussels and Euronext Amsterdam.
\nAs at 31 December 2023, Aedifica NV/SA holds 277 treasury shares.
\n
\n
\n\n\n\n\n\n\n\n\n
\nThe Board of Directors is authorised to increase the capital in one or more instalments, on the dates and in
\naccordance with the terms and conditions as will be determined by the Board of Directors, by a maximum
\namount of:
\n\u2022 1 ) 50% of the amount of the capital on the date of the extraordinary general meeting of 28 July 2022,
\nas the case may be, rounded down to the euro cent for capital increases by contribution in cash
\nwhereby the possibility is provided for the exercise of the preferential subscription right or the priority
\nallocation right by the shareholders of the Company;
\n\u2022 2 ) 20% of the amount of the capital on the date of the extraordinary general meeting of 28 July 2022,
\nas the case may be, rounded down to the euro cent for capital increases in the framework of the
\ndistribution of an optional dividend;
\n\u2022 3 ) 10% of the amount of the capital on the date of the extraordinary general meeting of 28 July 2022,
\nas the case may be, rounded down to the euro cent for a) capital increases by contribution in kind,
\nb) capital increases by contribution in cash without the possibility for the shareholders of the Company
\nto exercise the preferential right or priority allocation right, or c) any other kind of capital increase;
\nprovided that the capital within the context of the authorised capital can never be increased by an amount
\nhigher than the capital on the date of the extraordinary general meeting that approves the authorisation. This
\nauthorisation is granted for a renewable period of two years, calculated from the publication of the minutes
\nof the extraordinary general meeting of 28 July 2022, in the annexes to the Belgian Official Gazette. For each
\ncapital increase, the Board of Directors will determine the price, the issue premium (if any) and the terms and
\nconditions of issue of the new securities.
\nThe capital increases that are thus decided on by the Board of Directors may be subscribed to in cash, in
\nkind, or by means of a mixed contribution, or by incorporation of reserves, including profits carried forward
\nand issue premiums as well as all equity components under the Company\u2019s statutory IFRS financial
\nstatements (drawn up in accordance with the regulations applicable to the regulated real estate companies)
\nwhich are subject to conversion into capital, with or without the creation of new securities. These capital
\nincreases can also be realised through the issue of convertible bonds, subscription rights or bonds repayable
\nin shares or other securities which may give rise to the creation of the same securities.
\nOn 31 December 2023, the balance of the authorised capital amounts to:
\n\u2022 1 ) \u20ac332,808,521.44 for capital increases by contribution in cash whereby the possibility is provided
\nfor the exercise of the preferential subscription right or the priority allocation right by the shareholders
\nof the Company;
\n\u2022 2 ) \u20ac200,324,829.26 for capital increases in the framework of the distribution of an optional dividend;
\n\u2022 3 ) \u20ac105,169,153.57 for a. capital increases by contribution in kind, b. capital increases by contribution
\nin cash without the possibility for the shareholders of the Company to exercise the preferential right
\nor priority allocation right, or c. any other kind of capital increase;
\nprovided that the capital within the context of the authorised capital can never be increased by an amount
\nthat exceeds the legal maximum amount of the capital of \u20ac1,051,691,535.73, on the dates and in accordance
\nwith the terms and conditions as will be determined by the Board of Directors.
\n\nThe Board of Directors has proposed to distribute a dividend of \u20ac3.80 gross per share, i.e. a total dividend of
\n\u20ac166,676 k, to be divided over two coupons (coupon no. 33: \u20ac1.9156; coupon no. 34: \u20ac1.8844).
\n
\n\n\n\n\n\n\nTaking into account the Royal Decree of 13 July 2014, on 31 December 2023 the available (statutory) reserves
\ncalculated in accordance with Article 7:212 of the Companies and Associations Code amount to \u20ac1,247,298 k,
\nafter the dividend distribution proposed above (31 December 2022: \u20ac1,048,761 k). Detailed calculations are
\nprovided in the notes to the attached Abridged Statutory Accounts.
\nAedifica defines capital in accordance with IAS 1 p134 as the sum of all equity accounts. The equity level is
\nmonitored using the consolidated debt-to-assets ratio (calculated in accordance with the provisions of the
\nRoyal Decree of 13 July 2014 \u2013 see Note 41), which cannot exceed 60% according to the credit agreements
\nin place with the Company\u2019s banks (see Notes 32 & 36). Equity is monitored with a view to the continuity of
\nbusiness activities and the financing of growth.
\n
\n
\n
\n\n\n\n\n\n\n",
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"value": "\nThe Board of Directors has proposed to distribute a dividend of \u20ac3.80 gross per share, i.e. a total dividend of
\n\u20ac166,676 k, to be divided over two coupons (coupon no. 33: \u20ac1.9156; coupon no. 34: \u20ac1.8844).
\n
\n\n\n\n\n\n",
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"decimals": 2,
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"value": "166676000",
"decimals": -3,
"dimensions": {
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"Tag773": {
"value": "\n
\n\nNote 31: Provision
\nAedifica takes out group insurance for all of its employees and the members of its Executive Committee
\n(Executive Managers). The purpose of these contributions is to provide the following benefits:
\n\u2022 payment of a \u2018Life\u2019 benefit to the member if alive on the date of retirement;
\n\u2022 payment of a \u2018Death\u2019 benefit to the member\u2019s beneficiaries in the event of death before retirement;
\n\u2022 payment of disability benefits in the event of a non-occupational accident or long-term illness;
\n\u2022 exemption from premiums in the same cases.
\nFor Belgian employees, it consists of a defined contribution group insurance plan for which there are no
\npersonal contributions from the beneficiaries.
\nIn accordance with the law of 18 December 2015, Belgian workers benefit from a minimum guaranteed return
\non the \u2018Life\u2019 portion of the premiums. For \u2018branch 21\u2019 type insurance policies, the new guaranteed rate applies
\nto new contributions (employer/personal) paid from 1 January 2016, but the old guarantee (3.25% on the
\nemployer\u2019s contributions and 3.75% on the worker\u2019s) remains applicable for the minimum reserve built up as
\nat 31 December 2015. As from 2016, the minimum return required by the law on supplementary pensions fell
\nto 1.75%. This may generate a liability in the employer\u2019s accounts. This minimum return obligation is not
\napplicable to the pension plan for the members of the Executive Committee members with self-employed
\nstatus.
\nThe amounts covered by way of long-term benefits granted to members of the Executive Committee are
\nincluded in the \u2018Remuneration Report\u2019 in the present Annual Report.
\nIn respect of these pension schemes, Aedifica held outsourced assets of \u20ac1.366 k as at 31 December 2023.
\nAn actuarial valuation (using the Traditional Unit Credit (TUC) method) provides that the liabilities are
\ncalculated on the basis of the actual build up minimum reserves at valuation date projected with the minimum
\nguaranteed rate and discounted at the discount rate as described in the IAS 19 standard. The assets are
\nconsidered to correspond to the sum of the mathematical reserves per individual and the available portion of
\nthe financing fund. This valuation results in a net liability of \u20ac23 k as at 31 December 2023.
\nIn previous years, an additional defined contribution plan was introduced in Germany, the Netherlands and
\nthe United Kingdom. For these plans, the problem of having to recognise a provision does not arise since,
\naccording to IAS 19, this is not a \u2018defined benefit\u2019 plan.
\n
\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n",
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"Tag774": {
"value": "\nNote 31: Provision
\nAedifica takes out group insurance for all of its employees and the members of its Executive Committee
\n(Executive Managers). The purpose of these contributions is to provide the following benefits:
\n\u2022 payment of a \u2018Life\u2019 benefit to the member if alive on the date of retirement;
\n\u2022 payment of a \u2018Death\u2019 benefit to the member\u2019s beneficiaries in the event of death before retirement;
\n\u2022 payment of disability benefits in the event of a non-occupational accident or long-term illness;
\n\u2022 exemption from premiums in the same cases.
\nFor Belgian employees, it consists of a defined contribution group insurance plan for which there are no
\npersonal contributions from the beneficiaries.
\nIn accordance with the law of 18 December 2015, Belgian workers benefit from a minimum guaranteed return
\non the \u2018Life\u2019 portion of the premiums. For \u2018branch 21\u2019 type insurance policies, the new guaranteed rate applies
\nto new contributions (employer/personal) paid from 1 January 2016, but the old guarantee (3.25% on the
\nemployer\u2019s contributions and 3.75% on the worker\u2019s) remains applicable for the minimum reserve built up as
\nat 31 December 2015. As from 2016, the minimum return required by the law on supplementary pensions fell
\nto 1.75%. This may generate a liability in the employer\u2019s accounts. This minimum return obligation is not
\napplicable to the pension plan for the members of the Executive Committee members with self-employed
\nstatus.
\nThe amounts covered by way of long-term benefits granted to members of the Executive Committee are
\nincluded in the \u2018Remuneration Report\u2019 in the present Annual Report.
\nIn respect of these pension schemes, Aedifica held outsourced assets of \u20ac1.366 k as at 31 December 2023.
\nAn actuarial valuation (using the Traditional Unit Credit (TUC) method) provides that the liabilities are
\ncalculated on the basis of the actual build up minimum reserves at valuation date projected with the minimum
\nguaranteed rate and discounted at the discount rate as described in the IAS 19 standard. The assets are
\nconsidered to correspond to the sum of the mathematical reserves per individual and the available portion of
\nthe financing fund. This valuation results in a net liability of \u20ac23 k as at 31 December 2023.
\nIn previous years, an additional defined contribution plan was introduced in Germany, the Netherlands and
\nthe United Kingdom. For these plans, the problem of having to recognise a provision does not arise since,
\naccording to IAS 19, this is not a \u2018defined benefit\u2019 plan.
\n
\n\n\n\n\n\n\n",
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"Tag775": {
"value": "\n
\n\n
\n
\nNote 32: Borrowings
\n
\n(x \u20ac1,000)
\n31/12/2023
\n31/12/2022
\nNon-current financial debts
\n1,958,750
\n2,017,256
\nCredit institutions 1,166,915 1,240,399
\nOther
\n791,835
\n776,857
\nCurrent financial debts
\n321,549
\n435,164
\nCredit institutions
\n78,949
\n172,164
\nOther
\n242,600
\n263,000
\nTOTAL
\n2,280,299
\n2,452,420
\n
\nThe classification between current and non-current financial debts is based on the maturity dates of the credit
\nlines on which the drawings are made instead of the maturity dates of the drawings.
\nOn 31 December 2023, Aedifica had committed credit facilities totalling \u20ac2,401 million granted by 21 banks.
\n\u2022 Aedifica can use up to \u20ac2,308 million depending on its needs, as long as the debt-to-assets ratio does
\nnot exceed 60% and other covenants are met (in line with market practice). Each withdrawal is made
\nin euro for a period of up to 12 months, at a fixed margin set with reference to the Euribor rate
\nprevailing at the time of the withdrawal. \u20ac224 million of these credits lines were directly contracted by
\nHoivatilat Oyj.
\n\u2022 Aedifica also has amortising facilities with fixed interest rates between 0.8% and 5.8% amounting to
\n\u20ac45 million and variable interest rates amounting to \u20ac48 million, of which \u20ac46 million are credits held
\ndirectly or indirectly by Hoivatilat Oyj.
\n\nAedifica NV/SA also has a \u20ac500 million treasury notes programme, of which \u20ac350 million is available for
\ntreasury notes with a duration of less than one year and \u20ac150 million is available for treasury notes with a
\nduration of more than one year.
\nISIN code
\nNominal amount
\n(in \u20ac million)
\nMaturity
\n(years)
\nIssue date
\nMaturity date
\nCoupon
\n(%)
\nBE6310388531
\n15
\n10
\n21/12/2018
\n21/12/2028
\n2.176%
\nBE6322837863
\n40
\n7
\n25/06/2020
\n25/06/2027
\n1.466%
\nBE6323122802
\n12
\n10
\n15/07/2020
\n15/07/2030
\n1.850%
\nBE6325869145
\n10
\n7
\n16/12/2020
\n16/12/2027
\n1.274%
\nBE6326201553
\n10
\n7
\n14/01/2021
\n14/01/2028
\n1.329%
\n
\n\u2022 Under this programme, Aedifica has completed 5 private placements (see table above) amounting to
\n\u20ac87 million. These amounts are presented on line \u2018Other\u2019 of the \u2018Non-current financial debts\u2019.
\n\u2022 As at 31 December 2023, the short-term portion of the treasury notes programme (listed under the
\nheading \u2018Other\u2019 of \u2018Current financial debts\u2019) is used for an amount of \u20ac217 million.
\nHoivatilat Oyj also issues treasury notes in its own name. As at 31 December 2023, the outstanding amount
\nwas \u20ac26 million (listed under the heading \u2018Other\u2019 of \u2018Current financial debts\u2019).
\nThe entire outstanding amount of the short-term treasury notes is fully backed by the available funds on
\nconfirmed long-term credit lines.
\n
\n
\n\n\n\n\n\n\n\n
\n
\n\nMoreover, in 2021, Aedifica successfully issued:
\n\u2022 a bond (\u2018USPP\u2019) of \u00a3180 million through a private placement with US, UK and Canadian institutional
\ninvestors. The bonds have maturities of 7 and 12 years with a coupon of 2.58% and 2.79%
\nrespectively.
\n\u2022 its first benchmark Sustainability Bond for an amount of \u20ac500 million with a tenor of 10 years and a
\ncoupon of 0.75% per annum.
\nLoans contracted under Aedifica\u2019s Sustainable Finance Framework or linked to sustainability KPIs amount to
\n\u20ac1,282 million, of which \u20ac1,012 million is drawn on 31 December 2023 (44% of the drawn debt), highlighting
\nthe Group\u2019s wish to further diversify its sources of financing and to integrate ESG criteria into its financial
\npolicy.
\nAt 1.9%, the average cost of debt* including commitment fees remained at a reasonable level (1.4% in 2022)
\nowing to the interest rate hedges Aedifica had in place. Taking into account the duration of the drawings, the
\ncarrying amount of the financial debts with variable interest rate approximates their fair value (\u20ac1,444 million).
\nThe interest rate hedges are discussed in Note 33. The fair value of the financial debts with fixed interest rate
\n(\u20ac836 million) is estimated at \u20ac708 million.
\n
\n
\n\n\n\n\n\n\n\nAs at 31 December 2023, the Group did not mortgage or pledge any Belgian, Dutch, British or Irish building
\nto its creditors. In Germany and Finland, however, it is common practice for real estate to be secured as part
\nof bank financing. As at 31 December 2023, the ratio between the secured financial debt and the total
\nconsolidated assets was 2% and the ratio between the unencumbered assets and the total consolidated
\nassets was 4%.
\nTaking these elements into account, the maturity dates of Aedifica\u2019s financial debts as of 31 December 2023
\nare as follows:
\nFinancial debt
\nCommitted financing
\nShort-term
\ntreasury notes
\n(in \u20ac million)
\n1
\n
\nLines Utilisation
\n
\n 31/12/2024
\n170
\n65
\n243
\n 31/12/2025
\n531
\n146
\n-
\n 31/12/2026
\n730
\n408
\n-
\n 31/12/2027
\n545
\n413
\n-
\n 31/12/2028
\n552
\n392
\n-
\n 31/12/2029
\n43
\n3
\n-
\n >31/12/2029
\n626
\n616
\n-
\nTotal debt as at 31 December 2023 3,196 2,042 243
\n
\n1. Amounts in \u00a3 were converted into \u20ac based on the exchange rate of 31 December 2023 (0.86632 \u20ac/\u00a3).
\n
\nAs at 31 December 2023, the weighted average maturity of the drawn financial debt is 4.4 years. Available
\ncommitted financing amounts to \u20ac1,154 million. After deducting the backup for the short-term treasury notes,
\nthe available liquidity stands at \u20ac911 million.
\n
\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n",
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"language": "en",
"entity": "scheme:529900DTKNXL0AXQFN28",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag776": {
"value": "\n
\n
\nNote 32: Borrowings
\n
\n(x \u20ac1,000)
\n31/12/2023
\n31/12/2022
\nNon-current financial debts
\n1,958,750
\n2,017,256
\nCredit institutions 1,166,915 1,240,399
\nOther
\n791,835
\n776,857
\nCurrent financial debts
\n321,549
\n435,164
\nCredit institutions
\n78,949
\n172,164
\nOther
\n242,600
\n263,000
\nTOTAL
\n2,280,299
\n2,452,420
\n
\nThe classification between current and non-current financial debts is based on the maturity dates of the credit
\nlines on which the drawings are made instead of the maturity dates of the drawings.
\nOn 31 December 2023, Aedifica had committed credit facilities totalling \u20ac2,401 million granted by 21 banks.
\n\u2022 Aedifica can use up to \u20ac2,308 million depending on its needs, as long as the debt-to-assets ratio does
\nnot exceed 60% and other covenants are met (in line with market practice). Each withdrawal is made
\nin euro for a period of up to 12 months, at a fixed margin set with reference to the Euribor rate
\nprevailing at the time of the withdrawal. \u20ac224 million of these credits lines were directly contracted by
\nHoivatilat Oyj.
\n\u2022 Aedifica also has amortising facilities with fixed interest rates between 0.8% and 5.8% amounting to
\n\u20ac45 million and variable interest rates amounting to \u20ac48 million, of which \u20ac46 million are credits held
\ndirectly or indirectly by Hoivatilat Oyj.
\n\nAedifica NV/SA also has a \u20ac500 million treasury notes programme, of which \u20ac350 million is available for
\ntreasury notes with a duration of less than one year and \u20ac150 million is available for treasury notes with a
\nduration of more than one year.
\nISIN code
\nNominal amount
\n(in \u20ac million)
\nMaturity
\n(years)
\nIssue date
\nMaturity date
\nCoupon
\n(%)
\nBE6310388531
\n15
\n10
\n21/12/2018
\n21/12/2028
\n2.176%
\nBE6322837863
\n40
\n7
\n25/06/2020
\n25/06/2027
\n1.466%
\nBE6323122802
\n12
\n10
\n15/07/2020
\n15/07/2030
\n1.850%
\nBE6325869145
\n10
\n7
\n16/12/2020
\n16/12/2027
\n1.274%
\nBE6326201553
\n10
\n7
\n14/01/2021
\n14/01/2028
\n1.329%
\n
\n\u2022 Under this programme, Aedifica has completed 5 private placements (see table above) amounting to
\n\u20ac87 million. These amounts are presented on line \u2018Other\u2019 of the \u2018Non-current financial debts\u2019.
\n\u2022 As at 31 December 2023, the short-term portion of the treasury notes programme (listed under the
\nheading \u2018Other\u2019 of \u2018Current financial debts\u2019) is used for an amount of \u20ac217 million.
\nHoivatilat Oyj also issues treasury notes in its own name. As at 31 December 2023, the outstanding amount
\nwas \u20ac26 million (listed under the heading \u2018Other\u2019 of \u2018Current financial debts\u2019).
\nThe entire outstanding amount of the short-term treasury notes is fully backed by the available funds on
\nconfirmed long-term credit lines.
\n
\n
\n\n\n\n\n\n\n\n
\n
\n\nMoreover, in 2021, Aedifica successfully issued:
\n\u2022 a bond (\u2018USPP\u2019) of \u00a3180 million through a private placement with US, UK and Canadian institutional
\ninvestors. The bonds have maturities of 7 and 12 years with a coupon of 2.58% and 2.79%
\nrespectively.
\n\u2022 its first benchmark Sustainability Bond for an amount of \u20ac500 million with a tenor of 10 years and a
\ncoupon of 0.75% per annum.
\nLoans contracted under Aedifica\u2019s Sustainable Finance Framework or linked to sustainability KPIs amount to
\n\u20ac1,282 million, of which \u20ac1,012 million is drawn on 31 December 2023 (44% of the drawn debt), highlighting
\nthe Group\u2019s wish to further diversify its sources of financing and to integrate ESG criteria into its financial
\npolicy.
\nAt 1.9%, the average cost of debt* including commitment fees remained at a reasonable level (1.4% in 2022)
\nowing to the interest rate hedges Aedifica had in place. Taking into account the duration of the drawings, the
\ncarrying amount of the financial debts with variable interest rate approximates their fair value (\u20ac1,444 million).
\nThe interest rate hedges are discussed in Note 33. The fair value of the financial debts with fixed interest rate
\n(\u20ac836 million) is estimated at \u20ac708 million.
\n
\n
\n\n\n\n\n\n\n\nAs at 31 December 2023, the Group did not mortgage or pledge any Belgian, Dutch, British or Irish building
\nto its creditors. In Germany and Finland, however, it is common practice for real estate to be secured as part
\nof bank financing. As at 31 December 2023, the ratio between the secured financial debt and the total
\nconsolidated assets was 2% and the ratio between the unencumbered assets and the total consolidated
\nassets was 4%.
\nTaking these elements into account, the maturity dates of Aedifica\u2019s financial debts as of 31 December 2023
\nare as follows:
\nFinancial debt
\nCommitted financing
\nShort-term
\ntreasury notes
\n(in \u20ac million)
\n1
\n
\nLines Utilisation
\n
\n 31/12/2024
\n170
\n65
\n243
\n 31/12/2025
\n531
\n146
\n-
\n 31/12/2026
\n730
\n408
\n-
\n 31/12/2027
\n545
\n413
\n-
\n 31/12/2028
\n552
\n392
\n-
\n 31/12/2029
\n43
\n3
\n-
\n >31/12/2029
\n626
\n616
\n-
\nTotal debt as at 31 December 2023 3,196 2,042 243
\n
\n1. Amounts in \u00a3 were converted into \u20ac based on the exchange rate of 31 December 2023 (0.86632 \u20ac/\u00a3).
\n
\nAs at 31 December 2023, the weighted average maturity of the drawn financial debt is 4.4 years. Available
\ncommitted financing amounts to \u20ac1,154 million. After deducting the backup for the short-term treasury notes,
\nthe available liquidity stands at \u20ac911 million.
\n
\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfBorrowingsExplanatory",
"language": "en",
"entity": "scheme:529900DTKNXL0AXQFN28",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag777": {
"value": "\nAedifica NV/SA also has a \u20ac500 million treasury notes programme, of which \u20ac350 million is available for
\ntreasury notes with a duration of less than one year and \u20ac150 million is available for treasury notes with a
\nduration of more than one year.
\nISIN code
\nNominal amount
\n(in \u20ac million)
\nMaturity
\n(years)
\nIssue date
\nMaturity date
\nCoupon
\n(%)
\nBE6310388531
\n15
\n10
\n21/12/2018
\n21/12/2028
\n2.176%
\nBE6322837863
\n40
\n7
\n25/06/2020
\n25/06/2027
\n1.466%
\nBE6323122802
\n12
\n10
\n15/07/2020
\n15/07/2030
\n1.850%
\nBE6325869145
\n10
\n7
\n16/12/2020
\n16/12/2027
\n1.274%
\nBE6326201553
\n10
\n7
\n14/01/2021
\n14/01/2028
\n1.329%
\n
\n\u2022 Under this programme, Aedifica has completed 5 private placements (see table above) amounting to
\n\u20ac87 million. These amounts are presented on line \u2018Other\u2019 of the \u2018Non-current financial debts\u2019.
\n\u2022 As at 31 December 2023, the short-term portion of the treasury notes programme (listed under the
\nheading \u2018Other\u2019 of \u2018Current financial debts\u2019) is used for an amount of \u20ac217 million.
\nHoivatilat Oyj also issues treasury notes in its own name. As at 31 December 2023, the outstanding amount
\nwas \u20ac26 million (listed under the heading \u2018Other\u2019 of \u2018Current financial debts\u2019).
\nThe entire outstanding amount of the short-term treasury notes is fully backed by the available funds on
\nconfirmed long-term credit lines.
\n
\n
\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfDebtSecuritiesExplanatory",
"language": "en",
"entity": "scheme:529900DTKNXL0AXQFN28",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag778": {
"value": "\nMoreover, in 2021, Aedifica successfully issued:
\n\u2022 a bond (\u2018USPP\u2019) of \u00a3180 million through a private placement with US, UK and Canadian institutional
\ninvestors. The bonds have maturities of 7 and 12 years with a coupon of 2.58% and 2.79%
\nrespectively.
\n\u2022 its first benchmark Sustainability Bond for an amount of \u20ac500 million with a tenor of 10 years and a
\ncoupon of 0.75% per annum.
\nLoans contracted under Aedifica\u2019s Sustainable Finance Framework or linked to sustainability KPIs amount to
\n\u20ac1,282 million, of which \u20ac1,012 million is drawn on 31 December 2023 (44% of the drawn debt), highlighting
\nthe Group\u2019s wish to further diversify its sources of financing and to integrate ESG criteria into its financial
\npolicy.
\nAt 1.9%, the average cost of debt* including commitment fees remained at a reasonable level (1.4% in 2022)
\nowing to the interest rate hedges Aedifica had in place. Taking into account the duration of the drawings, the
\ncarrying amount of the financial debts with variable interest rate approximates their fair value (\u20ac1,444 million).
\nThe interest rate hedges are discussed in Note 33. The fair value of the financial debts with fixed interest rate
\n(\u20ac836 million) is estimated at \u20ac708 million.
\n
\n
\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfBorrowingCostsExplanatory",
"language": "en",
"entity": "scheme:529900DTKNXL0AXQFN28",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag779": {
"value": "\n
\n\nNote 33: Hedging instruments
\nAedifica takes on a large proportion of its financial debts at floating rates and is therefore able, where
\nappropriate, to benefit from low interest rates on the unsecured portion of its borrowings. In order to limit the
\ninterest rate risk, Aedifica has put in place hedges that allow for the conversion of floating-rate debt to fixed-
\nrate debt, or to capped-rate debt (\u2018cash flow hedges\u2019).
\nFurthermore, the acquisition of the healthcare real estate portfolio in the United Kingdom in February 2019
\nhas exposed the Group to foreign exchange rate risk.
\nThe foreign exchange rate risk is partly hedged by loans denominated in pound sterling, providing a natural
\nhedge against exposure to assets in the United Kingdom: on the one hand by a private placement of
\n\u00a3180 million and on the other hand by bank loans totalling \u00a3160 million (see Note 36).
\n
\nNote 33.1: Management of interest rate risk
\n1.1 Framework
\nAll hedges (interest rate swaps or \u2018IRS\u2019 and caps) are related to existing or highly probable risks. Aedifica
\napplies hedge accounting to some derivatives initiated before 2017 that meet the criteria to allow hedge
\naccounting. From 2017, in line with market practice, Aedifica chose not to apply hedge accounting to
\nderivatives, even if they meet those strict criteria. The change in the fair value of the financial derivatives has
\nno impact on EPRA Earnings, the main KPI for dividend distribution, and therefore the application of hedge
\naccounting has limited added value.
\nNevertheless, all derivatives provide economic hedging against interest rate risk, regardless of their
\naccounting method. All hedges are provided in the framework of the hedging policy set out in Note 36. The
\nfair value of these instruments is assessed on the basis of the present value of the estimated expected cash
\nflows based on market data. This fair value is adjusted in accordance with IFRS 13 to reflect the company\u2019s
\nown credit risk (\u2018debit valuation adjustment\u2019 or \u2018DVA\u2019) and the counterparty\u2019s credit risk (\u2018credit valuation
\nadjustment\u2019 or \u2018CVA\u2019). The tables below list the Company\u2019s hedging instruments.
\n
\n
\nINSTRUMENT Notional
\namount
\n(x 1,000)
\nBeginning Periodicity
\n(months)
\nDuration
\n(years)
\nHedge
\naccounting
\n(yes/no)
\nInterest
\nrate
\n(in %)
\nFair
\nvalue
\n(x \u20ac1,000)
\nAnalysis as at
\n31/12/2022
\nIRS
\n\u20ac25,000
\n02/08/2019
\n3
\n8
\nYes
\n0.33
\n2,972
\nIRS \u20ac50,000 01/01/2021 3 3 No 0.80 1,170
\nIRS
\n\u20ac50,000
\n03/01/2022
\n3
\n2
\nNo
\n0.73
\n1,203
\nIRS
\n\u20ac25,000
\n02/05/2019
\n3
\n6
\nYes
\n1.10
\n1,303
\nIRS
\n\u20ac50,000
\n01/02/2022
\n3
\n2
\nNo
\n0.34
\n1,511
\nIRS
\n\u20ac25,000
\n01/07/2019
\n3
\n6
\nNo
\n1.69
\n916
\nIRS
\n\u20ac50,000
\n01/07/2024
\n3
\n4
\nNo
\n0.08
\n5,302
\nIRS
\n\u20ac50,000
\n02/01/2023
\n3
\n2
\nNo
\n2.80
\n445
\nIRS
\n\u20ac50,000
\n02/01/2023
\n3
\n2
\nNo
\n2.67
\n568
\nIRS
\n\u20ac50,000
\n02/01/2023
\n3
\n5
\nNo
\n2.50
\n1,399
\nIRS
\n1
\n
\n\u20ac2,625
\n30/09/2019
\n3
\n12
\nNo
\n1.55
\n173
\nIRS
\n\u20ac50,000
\n01/01/2021
\n3
\n2
\nYes
\n0.64
\n1
\nIRS
\n2
\n
\n\u20ac8,778
\n01/04/2011
\n3
\n32
\nYes
\n4.89
\n-1,559
\nIRS
\n\u20ac25,000
\n03/02/2020
\n3
\n10
\nYes
\n0.66
\n3,615
\nIRS
\n\u20ac15,000
\n01/07/2019
\n3
\n10
\nNo
\n2.01
\n945
\nIRS
\n\u20ac8,000
\n01/07/2019
\n3
\n10
\nNo
\n2.05
\n485
\nIRS \u20ac12,000 01/07/2019 3 10 No 1.99 767
\nIRS
\n\u20ac50,000
\n01/02/2022
\n3
\n3
\nNo
\n0.46
\n2,830
\nIRS
\n2
\n
\n\u20ac20,404
\n31/07/2014
\n3
\n29
\nNo
\n4.39
\n-2,299
\nIRS
\n\u20ac25,000
\n03/07/2019
\n3
\n10
\nNo
\n1.04
\n3,106
\nIRS
\n\u20ac200,000
\n01/07/2024
\n3
\n4
\nNo
\n-0.02
\n21,937
\nIRS
\n\u20ac50,000
\n01/01/2023
\n3
\n3
\nNo
\n1.58
\n2,276
\nIRS
\n\u20ac50,000
\n01/11/2019
\n3
\n5
\nYes
\n0.78
\n2,217
\nIRS
\n\u20ac50,000
\n03/01/2022
\n3
\n1
\nNo
\n0.65
\n1
\nIRS
\n\u20ac50,000
\n03/02/2025
\n3
\n4
\nNo
\n0.15
\n5,005
\nIRS
\n\u20ac100,000
\n01/07/2024
\n3
\n4
\nNo
\n0.07
\n10,654
\nIRS
\n\u20ac50,000
\n01/07/2024
\n3
\n4
\nNo
\n0.12
\n5,233
\nIRS
\n\u20ac50,000
\n02/01/2023
\n3
\n4
\nNo
\n1.30
\n3,435
\nIRS
\n\u20ac50,000
\n02/01/2025
\n3
\n4
\nNo
\n0.05
\n5,219
\nIRS
\n\u20ac50,000
\n02/01/2025
\n3
\n4
\nNo
\n0.06
\n5,201
\nIRS
\n\u00a350,000
\n28/07/2022
\n3
\n5
\nNo
\n2.46
\n3,734
\nIRS
\n\u00a360,000
\n07/07/2022
\n3
\n5
\nNo
\n2.43
\n4,535
\nIRS
\n\u00a350,000
\n28/07/2022
\n3
\n5
\nNo
\n2.29
\n4,111
\nIRS \u20ac7,500 03/12/2018 1 5 No 0.46 182
\nIRS
\n\u20ac5,000
\n11/12/2018
\n1
\n5
\nNo
\n0.66
\n115
\nIRS
\n\u20ac7,500
\n03/12/2018
\n3
\n5
\nNo
\n0.47
\n181
\nIRS
\n\u20ac5,000
\n27/12/2018
\n6
\n5
\nNo
\n0.70
\n123
\nIRS
\n\u20ac10,000
\n19/03/2019
\n6
\n5
\nNo
\n0.83
\n283
\nIRS
\n\u20ac15,000
\n31/03/2020
\n1
\n5
\nNo
\n0.46
\n923
\nIRS
\n\u20ac10,000
\n01/12/2018
\n1
\n5
\nNo
\n0.63
\n226
\nCAP
\n\u20ac200,000
\n01/01/2024
\n3
\n1
\nNo
\n-
\n3,386
\nCAP
\n\u20ac100,000
\n04/01/2021
\n3
\n4
\nNo
\n0.25
\n5,895
\nCAP
\n\u20ac100,000
\n01/07/2021
\n3
\n3
\nNo
\n-
\n4,819
\nCAP
\n\u20ac50,000
\n01/07/2021
\n3
\n3
\nNo
\n-
\n2,409
\nCAP
\n\u20ac50,000
\n01/07/2021
\n3
\n3
\nNo
\n-
\n2,409
\nTOTAL
\n3
\n
\n\u20ac2,082,359
\n
\n
\n
\n
\n
\n119,361
\n
\n1. Notional amount depreciable over the duration of the swap.
\n2. Notional amount depreciable over the duration of the swap. Aedifica and the bank may liquidate in advance these
\ncontracts every 10 years.
\n3. Notional amounts in \u00a3 are converted into \u20ac based on the exchange rate of 31 December 2022 (0.88617 \u20ac/\u00a3).
\n
\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n
\n\nINSTRUMENT Notional
\namount
\n(x 1,000)
\nBeginning Periodicity
\n(months)
\nDuration
\n(years)
\nHedge
\naccounting
\n(yes/no)
\nInterest
\nrate
\n(in %)
\nFair
\nvalue
\n(x \u20ac1,000)
\nAnalysis as at
\n31/12/2023
\nIRS
\n\u20ac25,000
\n02/08/2019
\n3
\n8
\nYes
\n0.33
\n1,750
\nIRS \u20ac50,000 01/01/2021 3 3 No 0.80 12
\nIRS
\n\u20ac50,000
\n03/01/2022
\n3
\n2
\nNo
\n0.73
\n12
\nIRS
\n\u20ac25,000
\n02/05/2019
\n3
\n6
\nYes
\n1.10
\n691
\nIRS
\n\u20ac50,000
\n01/02/2022
\n3
\n2
\nNo
\n0.34
\n163
\nIRS
\n\u20ac25,000
\n01/07/2019
\n3
\n6
\nNo
\n1.69
\n453
\nIRS
\n\u20ac50,000
\n01/07/2024
\n3
\n4
\nNo
\n0.08
\n3,856
\nIRS
\n\u20ac50,000
\n02/01/2023
\n3
\n2
\nNo
\n2.80
\n238
\nIRS
\n\u20ac50,000
\n02/01/2023
\n3
\n2
\nNo
\n2.67
\n302
\nIRS
\n\u20ac50,000
\n02/01/2023
\n3
\n5
\nNo
\n2.50
\n-320
\nIRS
\n\u20ac50,000
\n01/04/2025
\n3
\n3
\nNo
\n2.50
\n-713
\nIRS
\n1
\n
\n\u20ac2,333
\n30/09/2019
\n3
\n12
\nNo
\n1.55
\n76
\nIRS
\n2
\n
\n\u20ac8,523
\n01/04/2011
\n3
\n32
\nYes
\n4.89
\n-1,920
\nIRS
\n\u20ac25,000
\n03/02/2020
\n3
\n10
\nYes
\n0.66
\n2,166
\nIRS
\n\u20ac15,000
\n01/07/2019
\n3
\n10
\nNo
\n2.01
\n230
\nIRS
\n\u20ac8,000
\n01/07/2019
\n3
\n10
\nNo
\n2.05
\n106
\nIRS \u20ac12,000 01/07/2019 3 10 No 1.99 194
\nIRS
\n\u20ac50,000
\n01/02/2022
\n3
\n3
\nNo
\n0.46
\n1,498
\nIRS
\n2
\n
\n\u20ac19,421
\n31/07/2014
\n3
\n29
\nNo
\n4.39
\n-3,071
\nIRS
\n\u20ac25,000
\n03/07/2019
\n3
\n10
\nNo
\n1.04
\n1,704
\nIRS
\n\u20ac200,000
\n01/07/2024
\n3
\n4
\nNo
\n-0.02
\n16,260
\nIRS
\n\u20ac50,000
\n01/01/2023
\n3
\n3
\nNo
\n1.58
\n1,070
\nIRS
\n\u20ac50,000
\n01/01/2023
\n3
\n5
\nNo
\n2.69
\n-695
\nIRS
\n\u20ac50,000
\n01/11/2019
\n3
\n5
\nYes
\n0.78
\n1,110
\nIRS
\n\u20ac50,000
\n03/02/2025
\n3
\n4
\nNo
\n0.15
\n3,500
\nIRS
\n\u20ac100,000
\n01/07/2024
\n3
\n4
\nNo
\n0.07
\n7,776
\nIRS
\n\u20ac50,000
\n01/07/2024
\n3
\n4
\nNo
\n0.12
\n3,790
\nIRS
\n\u20ac50,000
\n02/01/2023
\n3
\n4
\nNo
\n1.30
\n1,621
\nIRS
\n\u20ac50,000
\n03/04/2023
\n3
\n2
\nNo
\n3.08
\n3
\nIRS
\n\u20ac50,000
\n02/01/2025
\n3
\n3
\nNo
\n2.56
\n-798
\nIRS
\n\u20ac50,000
\n02/01/2025
\n3
\n4
\nNo
\n0.05
\n3,730
\nIRS
\n\u20ac50,000
\n02/01/2025
\n3
\n4
\nNo
\n0.06
\n3,674
\nIRS
\n\u20ac50,000
\n02/01/2026
\n3
\n3
\nNo
\n2.44
\n-549
\nIRS \u20ac50,000 01/01/2023 3 5 No 2.59 -489
\nIRS
\n\u20ac50,000
\n01/01/2025
\n3
\n3
\nNo
\n2.85
\n-1,205
\nIRS
\n\u00a350,000
\n28/07/2022
\n3
\n5
\nNo
\n2.46
\n2,039
\nIRS
\n\u00a360,000
\n07/07/2022
\n3
\n5
\nNo
\n2.43
\n2,511
\nIRS
\n\u00a350,000
\n28/07/2022
\n3
\n5
\nNo
\n2.29
\n2,352
\nIRS
\n\u20ac10,000
\n19/03/2019
\n6
\n5
\nNo
\n0.83
\n70
\nIRS
\n\u20ac15,000
\n31/03/2020
\n1
\n5
\nNo
\n0.46
\n512
\nCAP
\n\u20ac200,000
\n01/01/2024
\n3
\n1
\nNo
\n0.00
\n3,690
\nCAP
\n\u20ac100,000
\n04/01/2021
\n3
\n4
\nNo
\n0.25
\n3,018
\nCAP
\n\u20ac100,000
\n01/07/2021
\n3
\n3
\nNo
\n0.00
\n1,871
\nCAP
\n\u20ac50,000
\n01/07/2021
\n3
\n3
\nNo
\n0.00
\n938
\nCAP
\n\u20ac50,000
\n01/07/2021
\n3
\n3
\nNo
\n0.00
\n938
\nTOTAL
\n3
\n
\n\u20ac2,299,966
\n
\n
\n
\n
\n
\n64,164
\n
\n1. Notional amount depreciable over the duration of the swap.
\n2. Notional amount depreciable over the duration of the swap. Aedifica and the bank may liquidate in advance these
\ncontracts every 10 years.
\n3. Notional amounts in \u00a3 are converted into \u20ac based on the exchange rate of 31 December 2023 (0.86632 \u20ac/\u00a3).
\n
\nThe total notional amount of \u20ac2,300 million presented in the table above is broken down as follows:
\n\u2022 operational and active instruments: \u20ac1,350 million, of which \u20ac300 million caps;
\n\u2022 instruments with forward start: \u20ac950 million.
\nThe total fair value of the hedging instruments presented in the table above (+\u20ac64,164 k) can be broken down
\nas follows: \u20ac73,924 k on line I.E. of the asset side of the consolidated balance sheet and \u20ac9,760 k on line
\nI.C.a. of the liability side of the consolidated balance sheet. Taking into account the carrying amount of the
\nupfront premiums paid for the caps (\u20ac256 k), the effect of the changes in fair value of interest rate hedging
\ninstruments on equity amounts to \u20ac63,908 k.
\n1.2 Derivatives for which hedge accounting is applied
\n
\n(x \u20ac1,000)
\n31/12/2023
\n31/12/2022
\nChanges in fair value of the derivatives
\n
\n
\nBeginning of the year
\n9,574
\n-11,514
\nChanges in the effective portion of the fair value of hedging instruments
\n(accrued interests)
\n-2,293 17,972
\nTransfer to the income statement of interests paid on hedging instruments
\n-2,459
\n3,258
\nTransfer to the reserve account regarding revoked designation
\n0
\n38
\nTransfer to the reserve account of the net gain or loss on matured hedges
\n-180
\n-180
\nAT YEAR-END
\n4,642
\n9,574
\n
\nThe amounts recorded in equity will be transferred to net finance costs in line with the payment of interest on
\nthe hedged financial debt, between 1 January 2024 and 31 July 2043.
\nThe year-end equity value includes the effective part (as defined in IFRS 9) of the change in fair value (loss of
\n\u20ac4,752 k) of the financial instruments corresponding to the derivatives for which hedge accounting may be
\napplied, and the ineffective portion of the 2022 financial year (income of \u20ac34 k) that was appropriated in 2023
\nby decision of the Annual General Meeting held in May 2023. These financial instruments are \u2018level 2\u2019
\nderivatives (according to IFRS 13p81). The ineffective part (according to IAS 39) is nil as at 31 December
\n2023.
\n1.3 Derivatives for which hedge accounting is not applied
\nThe financial result includes a loss of \u20ac50,249 k (31 December 2022: an income of \u20ac124,962 k), arising from
\nthe change in the fair value of derivatives for which hedge accounting is not applied (in line with IFRS 9, as
\nlisted in the aforementioned framework) and the linear amortisation of the fair value of terminated derivatives
\nas of their date of termination, which amounts to a loss of \u20ac300 k (31 December 2022: a loss of \u20ac711 k) (see
\nNote 16). The latter is recognised on line \u2018II. H. Other comprehensive income, net of taxes\u2019 of the Consolidated
\nStatement of Comprehensive Income. These financial instruments are \u2018level 2\u2019 derivatives (as defined in
\nIFRS 13p81). The financial result also includes the amortisation of the premiums paid at the time of the
\nsubscription to the caps, which amounts to \u20ac198 k (31 December 2022: \u20ac258 k).
\n
\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n1.4 Sensitivity analysis
\nThe fair value of the hedging instruments is determined by the interest rates on the financial markets. These
\nchanges partly explain the change in the fair value of the hedging instruments between 1 January 2023 and
\n31 December 2023. This resulted in a loss of \u20ac50,548 k, recognised in the income statement, and to a loss of
\n\u20ac4,452 k, recognised in equity.
\nA change in the interest rate curve would impact the fair value of instruments for which hedge accounting is
\napplied (in accordance with IFRS 9), and recognised in equity (line \u2018I.C.d. Reserve for the balance of changes
\nin fair value of authorised hedging instruments qualifying for hedge accounting as defined under IFRS\u2019). All
\nelse being equal, a positive change of 10 bps of the interest rate curve at the balance sheet date would have
\na positive impact on equity in the amount of \u20ac367 k (\u20ac466 k on 31 December 2022). A negative change of
\n10 bps would have a negative impact in the same range. The impact of a change in the interest rate on the
\nfair value of the instruments for which hedge accounting is not applied cannot be determined as precisely,
\nsince options can be embedded within these instruments. The fair value of these options will change in a non-
\nsymmetric and non-linear pattern, and is a function of other parameters (e.g. volatility of interest rates). The
\nsensitivity of the \u2018mark-to-market\u2019 value of these instruments to an increase of 10 bps of the interest rate is
\nestimated to have a positive impact of \u20ac4,801 k (\u20ac4,468 k on 31 December 2022) on the income statement.
\nA decrease of 10 bps in the interest rate would have a negative impact of \u20ac4,802 k on the income statement
\n(\u20ac4,493 k on 31 December 2022).
\n
\nNote 33.2: Management of foreign exchange risk
\nAll hedges (forward purchase contracts of foreign currencies) are related to existing or highly probable risks.
\nThe hedging instruments are derivatives for which Aedifica will not systematically apply hedge accounting
\nand which provide economic hedging against foreign exchange risk. All hedges are provided in the framework
\nof the hedging policy set out in Note 36. The fair value of these instruments is assessed on the basis of the
\npresent value of the estimated cash flows based on market data. These financial instruments are \u2018level 2\u2019
\nderivatives (according to IFRS 13p81). As of 31 December 2023, Aedifica had no hedging contracts in place.
\nDuring the financial year, cash flows linked to Aedifica\u2019s external debt denominated in pound sterling have
\npartially offset net cash flows resulting from financial income from intra-group loans, other intra-group
\nrevenues and capital expenditures in the United Kingdom.
\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfDerivativeFinancialInstrumentsExplanatory",
"language": "en",
"entity": "scheme:529900DTKNXL0AXQFN28",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag780": {
"value": "\nNote 33: Hedging instruments
\nAedifica takes on a large proportion of its financial debts at floating rates and is therefore able, where
\nappropriate, to benefit from low interest rates on the unsecured portion of its borrowings. In order to limit the
\ninterest rate risk, Aedifica has put in place hedges that allow for the conversion of floating-rate debt to fixed-
\nrate debt, or to capped-rate debt (\u2018cash flow hedges\u2019).
\nFurthermore, the acquisition of the healthcare real estate portfolio in the United Kingdom in February 2019
\nhas exposed the Group to foreign exchange rate risk.
\nThe foreign exchange rate risk is partly hedged by loans denominated in pound sterling, providing a natural
\nhedge against exposure to assets in the United Kingdom: on the one hand by a private placement of
\n\u00a3180 million and on the other hand by bank loans totalling \u00a3160 million (see Note 36).
\n
\nNote 33.1: Management of interest rate risk
\n1.1 Framework
\nAll hedges (interest rate swaps or \u2018IRS\u2019 and caps) are related to existing or highly probable risks. Aedifica
\napplies hedge accounting to some derivatives initiated before 2017 that meet the criteria to allow hedge
\naccounting. From 2017, in line with market practice, Aedifica chose not to apply hedge accounting to
\nderivatives, even if they meet those strict criteria. The change in the fair value of the financial derivatives has
\nno impact on EPRA Earnings, the main KPI for dividend distribution, and therefore the application of hedge
\naccounting has limited added value.
\nNevertheless, all derivatives provide economic hedging against interest rate risk, regardless of their
\naccounting method. All hedges are provided in the framework of the hedging policy set out in Note 36. The
\nfair value of these instruments is assessed on the basis of the present value of the estimated expected cash
\nflows based on market data. This fair value is adjusted in accordance with IFRS 13 to reflect the company\u2019s
\nown credit risk (\u2018debit valuation adjustment\u2019 or \u2018DVA\u2019) and the counterparty\u2019s credit risk (\u2018credit valuation
\nadjustment\u2019 or \u2018CVA\u2019). The tables below list the Company\u2019s hedging instruments.
\n
\n
\nINSTRUMENT Notional
\namount
\n(x 1,000)
\nBeginning Periodicity
\n(months)
\nDuration
\n(years)
\nHedge
\naccounting
\n(yes/no)
\nInterest
\nrate
\n(in %)
\nFair
\nvalue
\n(x \u20ac1,000)
\nAnalysis as at
\n31/12/2022
\nIRS
\n\u20ac25,000
\n02/08/2019
\n3
\n8
\nYes
\n0.33
\n2,972
\nIRS \u20ac50,000 01/01/2021 3 3 No 0.80 1,170
\nIRS
\n\u20ac50,000
\n03/01/2022
\n3
\n2
\nNo
\n0.73
\n1,203
\nIRS
\n\u20ac25,000
\n02/05/2019
\n3
\n6
\nYes
\n1.10
\n1,303
\nIRS
\n\u20ac50,000
\n01/02/2022
\n3
\n2
\nNo
\n0.34
\n1,511
\nIRS
\n\u20ac25,000
\n01/07/2019
\n3
\n6
\nNo
\n1.69
\n916
\nIRS
\n\u20ac50,000
\n01/07/2024
\n3
\n4
\nNo
\n0.08
\n5,302
\nIRS
\n\u20ac50,000
\n02/01/2023
\n3
\n2
\nNo
\n2.80
\n445
\nIRS
\n\u20ac50,000
\n02/01/2023
\n3
\n2
\nNo
\n2.67
\n568
\nIRS
\n\u20ac50,000
\n02/01/2023
\n3
\n5
\nNo
\n2.50
\n1,399
\nIRS
\n1
\n
\n\u20ac2,625
\n30/09/2019
\n3
\n12
\nNo
\n1.55
\n173
\nIRS
\n\u20ac50,000
\n01/01/2021
\n3
\n2
\nYes
\n0.64
\n1
\nIRS
\n2
\n
\n\u20ac8,778
\n01/04/2011
\n3
\n32
\nYes
\n4.89
\n-1,559
\nIRS
\n\u20ac25,000
\n03/02/2020
\n3
\n10
\nYes
\n0.66
\n3,615
\nIRS
\n\u20ac15,000
\n01/07/2019
\n3
\n10
\nNo
\n2.01
\n945
\nIRS
\n\u20ac8,000
\n01/07/2019
\n3
\n10
\nNo
\n2.05
\n485
\nIRS \u20ac12,000 01/07/2019 3 10 No 1.99 767
\nIRS
\n\u20ac50,000
\n01/02/2022
\n3
\n3
\nNo
\n0.46
\n2,830
\nIRS
\n2
\n
\n\u20ac20,404
\n31/07/2014
\n3
\n29
\nNo
\n4.39
\n-2,299
\nIRS
\n\u20ac25,000
\n03/07/2019
\n3
\n10
\nNo
\n1.04
\n3,106
\nIRS
\n\u20ac200,000
\n01/07/2024
\n3
\n4
\nNo
\n-0.02
\n21,937
\nIRS
\n\u20ac50,000
\n01/01/2023
\n3
\n3
\nNo
\n1.58
\n2,276
\nIRS
\n\u20ac50,000
\n01/11/2019
\n3
\n5
\nYes
\n0.78
\n2,217
\nIRS
\n\u20ac50,000
\n03/01/2022
\n3
\n1
\nNo
\n0.65
\n1
\nIRS
\n\u20ac50,000
\n03/02/2025
\n3
\n4
\nNo
\n0.15
\n5,005
\nIRS
\n\u20ac100,000
\n01/07/2024
\n3
\n4
\nNo
\n0.07
\n10,654
\nIRS
\n\u20ac50,000
\n01/07/2024
\n3
\n4
\nNo
\n0.12
\n5,233
\nIRS
\n\u20ac50,000
\n02/01/2023
\n3
\n4
\nNo
\n1.30
\n3,435
\nIRS
\n\u20ac50,000
\n02/01/2025
\n3
\n4
\nNo
\n0.05
\n5,219
\nIRS
\n\u20ac50,000
\n02/01/2025
\n3
\n4
\nNo
\n0.06
\n5,201
\nIRS
\n\u00a350,000
\n28/07/2022
\n3
\n5
\nNo
\n2.46
\n3,734
\nIRS
\n\u00a360,000
\n07/07/2022
\n3
\n5
\nNo
\n2.43
\n4,535
\nIRS
\n\u00a350,000
\n28/07/2022
\n3
\n5
\nNo
\n2.29
\n4,111
\nIRS \u20ac7,500 03/12/2018 1 5 No 0.46 182
\nIRS
\n\u20ac5,000
\n11/12/2018
\n1
\n5
\nNo
\n0.66
\n115
\nIRS
\n\u20ac7,500
\n03/12/2018
\n3
\n5
\nNo
\n0.47
\n181
\nIRS
\n\u20ac5,000
\n27/12/2018
\n6
\n5
\nNo
\n0.70
\n123
\nIRS
\n\u20ac10,000
\n19/03/2019
\n6
\n5
\nNo
\n0.83
\n283
\nIRS
\n\u20ac15,000
\n31/03/2020
\n1
\n5
\nNo
\n0.46
\n923
\nIRS
\n\u20ac10,000
\n01/12/2018
\n1
\n5
\nNo
\n0.63
\n226
\nCAP
\n\u20ac200,000
\n01/01/2024
\n3
\n1
\nNo
\n-
\n3,386
\nCAP
\n\u20ac100,000
\n04/01/2021
\n3
\n4
\nNo
\n0.25
\n5,895
\nCAP
\n\u20ac100,000
\n01/07/2021
\n3
\n3
\nNo
\n-
\n4,819
\nCAP
\n\u20ac50,000
\n01/07/2021
\n3
\n3
\nNo
\n-
\n2,409
\nCAP
\n\u20ac50,000
\n01/07/2021
\n3
\n3
\nNo
\n-
\n2,409
\nTOTAL
\n3
\n
\n\u20ac2,082,359
\n
\n
\n
\n
\n
\n119,361
\n
\n1. Notional amount depreciable over the duration of the swap.
\n2. Notional amount depreciable over the duration of the swap. Aedifica and the bank may liquidate in advance these
\ncontracts every 10 years.
\n3. Notional amounts in \u00a3 are converted into \u20ac based on the exchange rate of 31 December 2022 (0.88617 \u20ac/\u00a3).
\n
\n\n\n\n\n\n\n\nINSTRUMENT Notional
\namount
\n(x 1,000)
\nBeginning Periodicity
\n(months)
\nDuration
\n(years)
\nHedge
\naccounting
\n(yes/no)
\nInterest
\nrate
\n(in %)
\nFair
\nvalue
\n(x \u20ac1,000)
\nAnalysis as at
\n31/12/2023
\nIRS
\n\u20ac25,000
\n02/08/2019
\n3
\n8
\nYes
\n0.33
\n1,750
\nIRS \u20ac50,000 01/01/2021 3 3 No 0.80 12
\nIRS
\n\u20ac50,000
\n03/01/2022
\n3
\n2
\nNo
\n0.73
\n12
\nIRS
\n\u20ac25,000
\n02/05/2019
\n3
\n6
\nYes
\n1.10
\n691
\nIRS
\n\u20ac50,000
\n01/02/2022
\n3
\n2
\nNo
\n0.34
\n163
\nIRS
\n\u20ac25,000
\n01/07/2019
\n3
\n6
\nNo
\n1.69
\n453
\nIRS
\n\u20ac50,000
\n01/07/2024
\n3
\n4
\nNo
\n0.08
\n3,856
\nIRS
\n\u20ac50,000
\n02/01/2023
\n3
\n2
\nNo
\n2.80
\n238
\nIRS
\n\u20ac50,000
\n02/01/2023
\n3
\n2
\nNo
\n2.67
\n302
\nIRS
\n\u20ac50,000
\n02/01/2023
\n3
\n5
\nNo
\n2.50
\n-320
\nIRS
\n\u20ac50,000
\n01/04/2025
\n3
\n3
\nNo
\n2.50
\n-713
\nIRS
\n1
\n
\n\u20ac2,333
\n30/09/2019
\n3
\n12
\nNo
\n1.55
\n76
\nIRS
\n2
\n
\n\u20ac8,523
\n01/04/2011
\n3
\n32
\nYes
\n4.89
\n-1,920
\nIRS
\n\u20ac25,000
\n03/02/2020
\n3
\n10
\nYes
\n0.66
\n2,166
\nIRS
\n\u20ac15,000
\n01/07/2019
\n3
\n10
\nNo
\n2.01
\n230
\nIRS
\n\u20ac8,000
\n01/07/2019
\n3
\n10
\nNo
\n2.05
\n106
\nIRS \u20ac12,000 01/07/2019 3 10 No 1.99 194
\nIRS
\n\u20ac50,000
\n01/02/2022
\n3
\n3
\nNo
\n0.46
\n1,498
\nIRS
\n2
\n
\n\u20ac19,421
\n31/07/2014
\n3
\n29
\nNo
\n4.39
\n-3,071
\nIRS
\n\u20ac25,000
\n03/07/2019
\n3
\n10
\nNo
\n1.04
\n1,704
\nIRS
\n\u20ac200,000
\n01/07/2024
\n3
\n4
\nNo
\n-0.02
\n16,260
\nIRS
\n\u20ac50,000
\n01/01/2023
\n3
\n3
\nNo
\n1.58
\n1,070
\nIRS
\n\u20ac50,000
\n01/01/2023
\n3
\n5
\nNo
\n2.69
\n-695
\nIRS
\n\u20ac50,000
\n01/11/2019
\n3
\n5
\nYes
\n0.78
\n1,110
\nIRS
\n\u20ac50,000
\n03/02/2025
\n3
\n4
\nNo
\n0.15
\n3,500
\nIRS
\n\u20ac100,000
\n01/07/2024
\n3
\n4
\nNo
\n0.07
\n7,776
\nIRS
\n\u20ac50,000
\n01/07/2024
\n3
\n4
\nNo
\n0.12
\n3,790
\nIRS
\n\u20ac50,000
\n02/01/2023
\n3
\n4
\nNo
\n1.30
\n1,621
\nIRS
\n\u20ac50,000
\n03/04/2023
\n3
\n2
\nNo
\n3.08
\n3
\nIRS
\n\u20ac50,000
\n02/01/2025
\n3
\n3
\nNo
\n2.56
\n-798
\nIRS
\n\u20ac50,000
\n02/01/2025
\n3
\n4
\nNo
\n0.05
\n3,730
\nIRS
\n\u20ac50,000
\n02/01/2025
\n3
\n4
\nNo
\n0.06
\n3,674
\nIRS
\n\u20ac50,000
\n02/01/2026
\n3
\n3
\nNo
\n2.44
\n-549
\nIRS \u20ac50,000 01/01/2023 3 5 No 2.59 -489
\nIRS
\n\u20ac50,000
\n01/01/2025
\n3
\n3
\nNo
\n2.85
\n-1,205
\nIRS
\n\u00a350,000
\n28/07/2022
\n3
\n5
\nNo
\n2.46
\n2,039
\nIRS
\n\u00a360,000
\n07/07/2022
\n3
\n5
\nNo
\n2.43
\n2,511
\nIRS
\n\u00a350,000
\n28/07/2022
\n3
\n5
\nNo
\n2.29
\n2,352
\nIRS
\n\u20ac10,000
\n19/03/2019
\n6
\n5
\nNo
\n0.83
\n70
\nIRS
\n\u20ac15,000
\n31/03/2020
\n1
\n5
\nNo
\n0.46
\n512
\nCAP
\n\u20ac200,000
\n01/01/2024
\n3
\n1
\nNo
\n0.00
\n3,690
\nCAP
\n\u20ac100,000
\n04/01/2021
\n3
\n4
\nNo
\n0.25
\n3,018
\nCAP
\n\u20ac100,000
\n01/07/2021
\n3
\n3
\nNo
\n0.00
\n1,871
\nCAP
\n\u20ac50,000
\n01/07/2021
\n3
\n3
\nNo
\n0.00
\n938
\nCAP
\n\u20ac50,000
\n01/07/2021
\n3
\n3
\nNo
\n0.00
\n938
\nTOTAL
\n3
\n
\n\u20ac2,299,966
\n
\n
\n
\n
\n
\n64,164
\n
\n1. Notional amount depreciable over the duration of the swap.
\n2. Notional amount depreciable over the duration of the swap. Aedifica and the bank may liquidate in advance these
\ncontracts every 10 years.
\n3. Notional amounts in \u00a3 are converted into \u20ac based on the exchange rate of 31 December 2023 (0.86632 \u20ac/\u00a3).
\n
\nThe total notional amount of \u20ac2,300 million presented in the table above is broken down as follows:
\n\u2022 operational and active instruments: \u20ac1,350 million, of which \u20ac300 million caps;
\n\u2022 instruments with forward start: \u20ac950 million.
\nThe total fair value of the hedging instruments presented in the table above (+\u20ac64,164 k) can be broken down
\nas follows: \u20ac73,924 k on line I.E. of the asset side of the consolidated balance sheet and \u20ac9,760 k on line
\nI.C.a. of the liability side of the consolidated balance sheet. Taking into account the carrying amount of the
\nupfront premiums paid for the caps (\u20ac256 k), the effect of the changes in fair value of interest rate hedging
\ninstruments on equity amounts to \u20ac63,908 k.
\n1.2 Derivatives for which hedge accounting is applied
\n
\n(x \u20ac1,000)
\n31/12/2023
\n31/12/2022
\nChanges in fair value of the derivatives
\n
\n
\nBeginning of the year
\n9,574
\n-11,514
\nChanges in the effective portion of the fair value of hedging instruments
\n(accrued interests)
\n-2,293 17,972
\nTransfer to the income statement of interests paid on hedging instruments
\n-2,459
\n3,258
\nTransfer to the reserve account regarding revoked designation
\n0
\n38
\nTransfer to the reserve account of the net gain or loss on matured hedges
\n-180
\n-180
\nAT YEAR-END
\n4,642
\n9,574
\n
\nThe amounts recorded in equity will be transferred to net finance costs in line with the payment of interest on
\nthe hedged financial debt, between 1 January 2024 and 31 July 2043.
\nThe year-end equity value includes the effective part (as defined in IFRS 9) of the change in fair value (loss of
\n\u20ac4,752 k) of the financial instruments corresponding to the derivatives for which hedge accounting may be
\napplied, and the ineffective portion of the 2022 financial year (income of \u20ac34 k) that was appropriated in 2023
\nby decision of the Annual General Meeting held in May 2023. These financial instruments are \u2018level 2\u2019
\nderivatives (according to IFRS 13p81). The ineffective part (according to IAS 39) is nil as at 31 December
\n2023.
\n1.3 Derivatives for which hedge accounting is not applied
\nThe financial result includes a loss of \u20ac50,249 k (31 December 2022: an income of \u20ac124,962 k), arising from
\nthe change in the fair value of derivatives for which hedge accounting is not applied (in line with IFRS 9, as
\nlisted in the aforementioned framework) and the linear amortisation of the fair value of terminated derivatives
\nas of their date of termination, which amounts to a loss of \u20ac300 k (31 December 2022: a loss of \u20ac711 k) (see
\nNote 16). The latter is recognised on line \u2018II. H. Other comprehensive income, net of taxes\u2019 of the Consolidated
\nStatement of Comprehensive Income. These financial instruments are \u2018level 2\u2019 derivatives (as defined in
\nIFRS 13p81). The financial result also includes the amortisation of the premiums paid at the time of the
\nsubscription to the caps, which amounts to \u20ac198 k (31 December 2022: \u20ac258 k).
\n
\n\n\n\n\n\n\n\n1.4 Sensitivity analysis
\nThe fair value of the hedging instruments is determined by the interest rates on the financial markets. These
\nchanges partly explain the change in the fair value of the hedging instruments between 1 January 2023 and
\n31 December 2023. This resulted in a loss of \u20ac50,548 k, recognised in the income statement, and to a loss of
\n\u20ac4,452 k, recognised in equity.
\nA change in the interest rate curve would impact the fair value of instruments for which hedge accounting is
\napplied (in accordance with IFRS 9), and recognised in equity (line \u2018I.C.d. Reserve for the balance of changes
\nin fair value of authorised hedging instruments qualifying for hedge accounting as defined under IFRS\u2019). All
\nelse being equal, a positive change of 10 bps of the interest rate curve at the balance sheet date would have
\na positive impact on equity in the amount of \u20ac367 k (\u20ac466 k on 31 December 2022). A negative change of
\n10 bps would have a negative impact in the same range. The impact of a change in the interest rate on the
\nfair value of the instruments for which hedge accounting is not applied cannot be determined as precisely,
\nsince options can be embedded within these instruments. The fair value of these options will change in a non-
\nsymmetric and non-linear pattern, and is a function of other parameters (e.g. volatility of interest rates). The
\nsensitivity of the \u2018mark-to-market\u2019 value of these instruments to an increase of 10 bps of the interest rate is
\nestimated to have a positive impact of \u20ac4,801 k (\u20ac4,468 k on 31 December 2022) on the income statement.
\nA decrease of 10 bps in the interest rate would have a negative impact of \u20ac4,802 k on the income statement
\n(\u20ac4,493 k on 31 December 2022).
\n
\nNote 33.2: Management of foreign exchange risk
\nAll hedges (forward purchase contracts of foreign currencies) are related to existing or highly probable risks.
\nThe hedging instruments are derivatives for which Aedifica will not systematically apply hedge accounting
\nand which provide economic hedging against foreign exchange risk. All hedges are provided in the framework
\nof the hedging policy set out in Note 36. The fair value of these instruments is assessed on the basis of the
\npresent value of the estimated cash flows based on market data. These financial instruments are \u2018level 2\u2019
\nderivatives (according to IFRS 13p81). As of 31 December 2023, Aedifica had no hedging contracts in place.
\nDuring the financial year, cash flows linked to Aedifica\u2019s external debt denominated in pound sterling have
\npartially offset net cash flows resulting from financial income from intra-group loans, other intra-group
\nrevenues and capital expenditures in the United Kingdom.
\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFairValueOfFinancialInstrumentsExplanatory",
"language": "en",
"entity": "scheme:529900DTKNXL0AXQFN28",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag791": {
"value": "\nNote 34: Trade payables and other currents debts
\n
\n(x \u20ac1,000)
\n31/12/2023
\n31/12/2022
\nTrade debts
\n39,175
\n39,475
\nExit tax 44 5,990
\nTaxes, social charges and salaries debts
\n
\n
\nTax
\n11,770
\n16,181
\nSalaries and social charges
\n6,163
\n5,013
\nOther
\n
\n
\nDividends of previous years
\n25
\n194
\nTOTAL
\n57,177
\n66,853
\n
\nThe majority of trade payables and other current debts (recognised as \u2018financial liabilities at amortised cost\u2019
\nunder IFRS 9, excluding taxes covered by IAS 12 and remuneration and contributions to social security plans
\ncovered by IAS 19) should be settled within 12 months. The carrying amount constitutes an approximation of
\ntheir fair value.
\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfTradeAndOtherPayablesExplanatory",
"language": "en",
"entity": "scheme:529900DTKNXL0AXQFN28",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag792": {
"value": "\n\n\n\n\nNote 35: Accrued charges and deferred income
\n
\n(x \u20ac1,000)
\n31/12/2023
\n31/12/2022
\nProperty income received in advance
\n12,945
\n13,594
\nFinancial charges accrued
\n11,863
\n6,024
\nOther accrued charges
\n976
\n7,089
\nTOTAL
\n25,784
\n26,707
\n\n\n\n\n\n",
"dimensions": {
"concept": "aed:DisclosureOfAccruedChargesAndDeferredIncomeExplanatory",
"language": "en",
"entity": "scheme:529900DTKNXL0AXQFN28",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag793": {
"value": "\n\n\nNote 35: Accrued charges and deferred income
\n
\n(x \u20ac1,000)
\n31/12/2023
\n31/12/2022
\nProperty income received in advance
\n12,945
\n13,594
\nFinancial charges accrued
\n11,863
\n6,024
\nOther accrued charges
\n976
\n7,089
\nTOTAL
\n25,784
\n26,707
\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfAccruedExpensesAndOtherLiabilitiesExplanatory",
"language": "en",
"entity": "scheme:529900DTKNXL0AXQFN28",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag794": {
"value": "\nNote 35: Accrued charges and deferred income
\n
\n(x \u20ac1,000)
\n31/12/2023
\n31/12/2022
\nProperty income received in advance
\n12,945
\n13,594
\nFinancial charges accrued
\n11,863
\n6,024
\nOther accrued charges
\n976
\n7,089
\nTOTAL
\n25,784
\n26,707
\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfDeferredIncomeExplanatory",
"language": "en",
"entity": "scheme:529900DTKNXL0AXQFN28",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag781": {
"value": "\n
\n
\nNote 36: Financial risk management
\nAedifica\u2019s financial policy aims to ensure permanent access to financing, monitor the debt-to-assets-ratio
\nand monitor and minimise the interest rate and exchange rate risks. However, the Group remains subject to
\nfinancing risks; a change in interest rates or exchange rates could have a negative impact on the Group\u2019s
\nassets, operations, financial position and prospects.
\n\nNote 36.1: Debt structure
\nAedifica\u2019s debt-to-assets ratio (as defined in the Royal Decree of 13 July 2014 on Belgian RRECs) is detailed
\non page 74 of this Annual Report. As at 31 December 2023, it amounts to 36.9% at the statutory level and to
\n39.7% at the consolidated level. This section also discloses the maximum ratio permitted before the Company
\nreaches the maximum debt-to-assets ratio permitted for Belgian REITs (65% of total assets) or arising due to
\nbank covenants (60% of total assets). The debt-to-assets ratio is monitored on a quarterly basis and its
\nevolution is estimated during the approval process of each major investment project. When the debt-to-assets
\nthreshold of 50% is exceeded, a financial plan with an implementation schedule must be elaborated,
\ndescribing the measures that will be taken to prevent the consolidated debt-to-assets ratio from exceeding
\nthe maximum permissible threshold of 65% (Article 24 of the Royal Decree of 13 July 2014). However, the
\nCompany intends to maintain an appropriate long-term debt-to-assets ratio of approx. 45%.
\nAedifica\u2019s financial model relies on a structural indebtedness. As a result, cash balances are usually low,
\namounting to \u20ac18.3 million as at 31 December 2023.
\nAs at 31 December 2023, the Group did not mortgage or pledge any Belgian, Dutch, British or Irish buildings
\nto its creditors. In Germany and Finland, however, it is common practice for real estate to be secured as part
\nof bank financing. As at 31 December 2023, the ratio between the secured financial debt and the total
\nconsolidated assets was 2% and the ratio between the unencumbered assets and the total consolidated
\nassets was 4%. It is possible that in the context of supplementary financing, additional mortgages will be
\ngranted.
\n
\n\n\n\n\n\n\n\n\nNote 36.2: Liquidity risk
\nAedifica has a strong and stable relationship with its financial institutions, which form a diversified pool
\nconsisting of an annually increasing number of European institutions. Details of Aedifica\u2019s credit facilities are
\ndisclosed in Note 32.
\nAs at 31 December 2023, the Group has drawn \u20ac2,042 million (31 December 2022: \u20ac2,194 million) from the
\ntotal amount of \u20ac3,196 million of confirmed bank financing, medium-term notes and bonds. The remaining
\nheadroom is sufficient to cover the Group\u2019s short-term financial needs as well as the existing development
\nprojects until the end of the 2024 financial year. The 2024 financial plan includes limited assumptions
\nregarding acquisitions and payments in the context of the committed development pipeline amounting to
\napprox. \u20ac275 million.
\nAedifica aims to further diversify its financing sources. In this context, Aedifica launched a programme in 2018
\nto issue treasury notes with varying maturities. The short-term treasury notes are fully hedged by the available
\nfunds on confirmed long-term credit lines. As at 31 December 2023, medium-term notes amount to
\n\u20ac87 million (31 December 2022: \u20ac87 million). In addition, in 2021, Aedifica successfully issued a bond (\u2018USPP\u2019)
\nof \u00a3180 million through a private placement with US, UK and Canadian institutional investors and its first
\nbenchmark Sustainability Bond for an amount of \u20ac500 million.
\nGiven the regulatory status of Belgian REITs/RRECs, and the type of property in which Aedifica invests, the
\nrisk of non-renewal of mature credit facilities is remote even in the context of a credit crunch, except in the
\nevent of unforeseen and extreme circumstances. However, there is a risk that credit margins may increase
\nafter the maturity date of these credit lines.
\nAedifica may be exposed to a liquidity risk which could arise due to a lack of cash flow in the event of early
\ntermination of the credit facilities. Should the Company fail to comply with the provisions (covenants), which
\nwere included in the credit facility arrangements to take into account key financial ratios, the facilities might
\nbe cancelled, renegotiated, or forced into repayment. The covenants in place are in line with market practice
\nand notably require that the debt-to-assets ratio (as defined by the Royal Decree of 13 July 2014) does not
\nexceed 60%. The Interest Cover Ratio* (ICR), calculated based on the definition set out in the prospectus of
\nAedifica\u2019s Sustainability Bond (\u2018Operating result before result on the portfolio\u2019 (lines I to XV of the consolidated
\nincome statement) divided by \u2018Net interest charges\u2019 (line XXI)), should be at least equal to 2.0x. As at
\n31 December 2023, the ratio is 5.9x (31 December 2022: 7.5x).
\nMoreover, there is a risk of early termination in the event of a change of control, in case of non-compliance
\nwith the Company\u2019s obligations, and, more generally speaking, in the event of default as defined in these
\narrangements. A default situation related to one contract can lead to a default situation related to all contracts
\n(\u2018cross-default clauses\u2019). Based on the information available to date, and the prospects for the foreseeable
\nfuture, there is no indication of a possible early termination of one or more of the existing credit facilities.
\nHowever, this risk cannot be ignored completely. Moreover, Aedifica does not itself retain control over certain
\ncommitments which could lead to the early termination of credit facilities, such as in the event of a change of
\ncontrol.
\nAs at 31 December 2023, the undiscounted future cash flows related to the credit facilities include
\n\u20ac308 million maturing within 1 year, \u20ac1,358 million maturing within 1 to 5 years, and \u20ac619 million maturing in
\nmore than five years. The credit facilities also give rise to an interest expense of \u20ac28 million that is due within
\none year (31 December 2022: \u20ac423 million capital and \u20ac24 million interest due within 1 year).
\nThe undiscounted contractual future cash flows related to hedging instruments are analysed in the tables
\nbelow.
\nThe future undiscounted cash flows are based on the fixed rate of the derivatives and only take into account
\nthe floating rate in case the fixing is already known on 31 December 2023.
\nAs at 31/12/2023
\n(x \u20ac1,000)
\nDue within
\nthe year
\nDue between one
\nto five years
\nDue after more
\nthan five years
\nTOTAL
\nDerivatives for which hedge accounting
\nis applied
\n92 -2,636 -3,074 -5,618
\nDerivatives for which hedge accounting
\nis not applied
\n3,675
\n-50,826
\n-6,010
\n-53,161
\n
\n
\n
\n
\n
\nAs at 31/12/2022
\n(x \u20ac1,000)
\nDue within
\nthe year
\nDue between one
\nto five years
\nDue after more
\nthan five years
\nTOTAL
\nDerivatives for which hedge accounting
\nis applied
\n-682
\n-3,453
\n-3,602
\n-7,737
\nDerivatives for which hedge accounting
\nis not applied
\n-8,301
\n-36,957
\n-7,930
\n-53,187
\n
\n
\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\nNote 36.3: Interest rate risk
\nA substantial part of Aedifica\u2019s financial debts are floating-rate borrowings. This allows Aedifica to benefit
\nfrom low interest rates on the non-hedged part of its borrowings. To mitigate the risk of increasing interest
\nrates, Aedifica follows a policy aimed at securing for a period of several years the interest rates related to at
\nleast 60% of its current or highly probable indebtedness. It should be noted that the Company assumed
\ncertain fixed-rate debts which came from pre-existing investment credits tied to real estate companies which
\nwere acquired or absorbed by the Company. The USPP and the benchmark bond issue have rebalanced
\nAedifica\u2019s mix of fixed and floating rate debt. The floating rate bank loans denominated in pound sterling
\nissued in July 2022 have been fully swapped to fixed rate. On 31 December 2023, the financial debt is hedged
\nagainst interest rate risk for 95.8%, i.e. the ratio of the sum of the fixed rate debt and the notional amount of
\nderivatives divided by the total financial debt. The hedging\u2019s weighted average maturity is 5.1 years.
\n
\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFinancialRiskManagementExplanatory",
"language": "en",
"entity": "scheme:529900DTKNXL0AXQFN28",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag782": {
"value": "\nNote 36.1: Debt structure
\nAedifica\u2019s debt-to-assets ratio (as defined in the Royal Decree of 13 July 2014 on Belgian RRECs) is detailed
\non page 74 of this Annual Report. As at 31 December 2023, it amounts to 36.9% at the statutory level and to
\n39.7% at the consolidated level. This section also discloses the maximum ratio permitted before the Company
\nreaches the maximum debt-to-assets ratio permitted for Belgian REITs (65% of total assets) or arising due to
\nbank covenants (60% of total assets). The debt-to-assets ratio is monitored on a quarterly basis and its
\nevolution is estimated during the approval process of each major investment project. When the debt-to-assets
\nthreshold of 50% is exceeded, a financial plan with an implementation schedule must be elaborated,
\ndescribing the measures that will be taken to prevent the consolidated debt-to-assets ratio from exceeding
\nthe maximum permissible threshold of 65% (Article 24 of the Royal Decree of 13 July 2014). However, the
\nCompany intends to maintain an appropriate long-term debt-to-assets ratio of approx. 45%.
\nAedifica\u2019s financial model relies on a structural indebtedness. As a result, cash balances are usually low,
\namounting to \u20ac18.3 million as at 31 December 2023.
\nAs at 31 December 2023, the Group did not mortgage or pledge any Belgian, Dutch, British or Irish buildings
\nto its creditors. In Germany and Finland, however, it is common practice for real estate to be secured as part
\nof bank financing. As at 31 December 2023, the ratio between the secured financial debt and the total
\nconsolidated assets was 2% and the ratio between the unencumbered assets and the total consolidated
\nassets was 4%. It is possible that in the context of supplementary financing, additional mortgages will be
\ngranted.
\n
\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfCreditRiskExplanatory",
"language": "en",
"entity": "scheme:529900DTKNXL0AXQFN28",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag783": {
"value": "\nNote 36.2: Liquidity risk
\nAedifica has a strong and stable relationship with its financial institutions, which form a diversified pool
\nconsisting of an annually increasing number of European institutions. Details of Aedifica\u2019s credit facilities are
\ndisclosed in Note 32.
\nAs at 31 December 2023, the Group has drawn \u20ac2,042 million (31 December 2022: \u20ac2,194 million) from the
\ntotal amount of \u20ac3,196 million of confirmed bank financing, medium-term notes and bonds. The remaining
\nheadroom is sufficient to cover the Group\u2019s short-term financial needs as well as the existing development
\nprojects until the end of the 2024 financial year. The 2024 financial plan includes limited assumptions
\nregarding acquisitions and payments in the context of the committed development pipeline amounting to
\napprox. \u20ac275 million.
\nAedifica aims to further diversify its financing sources. In this context, Aedifica launched a programme in 2018
\nto issue treasury notes with varying maturities. The short-term treasury notes are fully hedged by the available
\nfunds on confirmed long-term credit lines. As at 31 December 2023, medium-term notes amount to
\n\u20ac87 million (31 December 2022: \u20ac87 million). In addition, in 2021, Aedifica successfully issued a bond (\u2018USPP\u2019)
\nof \u00a3180 million through a private placement with US, UK and Canadian institutional investors and its first
\nbenchmark Sustainability Bond for an amount of \u20ac500 million.
\nGiven the regulatory status of Belgian REITs/RRECs, and the type of property in which Aedifica invests, the
\nrisk of non-renewal of mature credit facilities is remote even in the context of a credit crunch, except in the
\nevent of unforeseen and extreme circumstances. However, there is a risk that credit margins may increase
\nafter the maturity date of these credit lines.
\nAedifica may be exposed to a liquidity risk which could arise due to a lack of cash flow in the event of early
\ntermination of the credit facilities. Should the Company fail to comply with the provisions (covenants), which
\nwere included in the credit facility arrangements to take into account key financial ratios, the facilities might
\nbe cancelled, renegotiated, or forced into repayment. The covenants in place are in line with market practice
\nand notably require that the debt-to-assets ratio (as defined by the Royal Decree of 13 July 2014) does not
\nexceed 60%. The Interest Cover Ratio* (ICR), calculated based on the definition set out in the prospectus of
\nAedifica\u2019s Sustainability Bond (\u2018Operating result before result on the portfolio\u2019 (lines I to XV of the consolidated
\nincome statement) divided by \u2018Net interest charges\u2019 (line XXI)), should be at least equal to 2.0x. As at
\n31 December 2023, the ratio is 5.9x (31 December 2022: 7.5x).
\nMoreover, there is a risk of early termination in the event of a change of control, in case of non-compliance
\nwith the Company\u2019s obligations, and, more generally speaking, in the event of default as defined in these
\narrangements. A default situation related to one contract can lead to a default situation related to all contracts
\n(\u2018cross-default clauses\u2019). Based on the information available to date, and the prospects for the foreseeable
\nfuture, there is no indication of a possible early termination of one or more of the existing credit facilities.
\nHowever, this risk cannot be ignored completely. Moreover, Aedifica does not itself retain control over certain
\ncommitments which could lead to the early termination of credit facilities, such as in the event of a change of
\ncontrol.
\nAs at 31 December 2023, the undiscounted future cash flows related to the credit facilities include
\n\u20ac308 million maturing within 1 year, \u20ac1,358 million maturing within 1 to 5 years, and \u20ac619 million maturing in
\nmore than five years. The credit facilities also give rise to an interest expense of \u20ac28 million that is due within
\none year (31 December 2022: \u20ac423 million capital and \u20ac24 million interest due within 1 year).
\nThe undiscounted contractual future cash flows related to hedging instruments are analysed in the tables
\nbelow.
\nThe future undiscounted cash flows are based on the fixed rate of the derivatives and only take into account
\nthe floating rate in case the fixing is already known on 31 December 2023.
\nAs at 31/12/2023
\n(x \u20ac1,000)
\nDue within
\nthe year
\nDue between one
\nto five years
\nDue after more
\nthan five years
\nTOTAL
\nDerivatives for which hedge accounting
\nis applied
\n92 -2,636 -3,074 -5,618
\nDerivatives for which hedge accounting
\nis not applied
\n3,675
\n-50,826
\n-6,010
\n-53,161
\n
\n
\n
\n
\n
\nAs at 31/12/2022
\n(x \u20ac1,000)
\nDue within
\nthe year
\nDue between one
\nto five years
\nDue after more
\nthan five years
\nTOTAL
\nDerivatives for which hedge accounting
\nis applied
\n-682
\n-3,453
\n-3,602
\n-7,737
\nDerivatives for which hedge accounting
\nis not applied
\n-8,301
\n-36,957
\n-7,930
\n-53,187
\n
\n
\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfLiquidityRiskExplanatory",
"language": "en",
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"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
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"Tag784": {
"value": "\n
\n\nNote 36.3: Interest rate risk
\nA substantial part of Aedifica\u2019s financial debts are floating-rate borrowings. This allows Aedifica to benefit
\nfrom low interest rates on the non-hedged part of its borrowings. To mitigate the risk of increasing interest
\nrates, Aedifica follows a policy aimed at securing for a period of several years the interest rates related to at
\nleast 60% of its current or highly probable indebtedness. It should be noted that the Company assumed
\ncertain fixed-rate debts which came from pre-existing investment credits tied to real estate companies which
\nwere acquired or absorbed by the Company. The USPP and the benchmark bond issue have rebalanced
\nAedifica\u2019s mix of fixed and floating rate debt. The floating rate bank loans denominated in pound sterling
\nissued in July 2022 have been fully swapped to fixed rate. On 31 December 2023, the financial debt is hedged
\nagainst interest rate risk for 95.8%, i.e. the ratio of the sum of the fixed rate debt and the notional amount of
\nderivatives divided by the total financial debt. The hedging\u2019s weighted average maturity is 5.1 years.
\n
\n\n\n\n\n\n\n\nThis policy is supported by the fact that an increase in nominal interest rates, when not coupled with a
\nsimultaneous increase in inflation, implies an increase in real interest rates that cannot be offset by increasing
\nrental incomes through indexation alone. Moreover, in case of accelerating inflation, there is a delay between
\nthe timing of the increase of the nominal interest rates and the timing of the indexation of rental income.
\nFor example: assuming that the structure and level of financial debts remain unchanged, and assuming that
\nno hedges have been entered into, simulations show that a 100 bps positive deviation (increase) in the 2024
\ninterest rates over the forecast rates would lead to an approx. additional \u20ac37.8 million interest expense for
\nthe year ending 31 December 2024. Taking into account the hedging instruments at present, the increase in
\ninterest expense would amount to just \u20ac0.4 million.
\nIn order to manage the interest rate risk, Aedifica has put in place hedges (interest rate swaps and caps). All
\nhedges are entered into with leading banks and relate to existing or highly probable risks. An analysis of the
\nGroup\u2019s hedges is provided in the Financial Report and in the Consolidated Financial Statements (Note 33).
\nThe hedges can be entered into for long periods; however, hedge agreements include provisions (in line with
\nmarket practice) that could lead the issuing banks to terminate the hedges early or initiate margin calls (in
\ncash for example) in their own favour in certain circumstances.
\nChanges in the interest rate curve have a limited impact on the future interest expense, since at least 60% of
\nthe financial debts are hedged by IRS or caps. Each change in the interest rate curve has an impact on the
\nfair value of hedging instruments against income statement and/or equity (balance line \u2018I.C.d. Reserve for the
\nbalance of changes in fair value of authorised hedging instruments qualifying for hedge accounting as defined
\nunder IFRS\u2019). A sensitivity analysis is provided in Note 33.
\nCertain external developments could cause an increase of the credit spreads at the Group\u2019s expense, in
\naccordance with the \u2018increased cost\u2019 clauses included in the banking agreements. Such clauses allow the
\nlending banks to increase the cost price of the granted credit, among other things, in case these banks are
\nsubjected by their supervisory authority to more severe solvability, liquidity or other capital requirements.
\nHowever, it should be noted that during the crises which have hit the financial markets, no bank has ever
\ninvoked one of these clauses towards the Group. However, this cannot be seen as a safeguard for the future.
\n
\nNote 36.4: Banking counterparty risk
\nSigning a credit facility or hedging instrument with a bank generates a counterparty risk in the event of
\ncounterparty default. In order to mitigate this risk, Aedifica trades with several leading national and European
\nbanks to diversify its funding and hedging sources, while remaining cautious about the balance between cost
\nand quality of the services provided, it being understood that the counterparty risk cannot be excluded and
\nthe failure by one or more of Aedifica\u2019s financing or hedging counterparties could have a negative impact on
\nthe Group\u2019s assets, operations, financial position and prospects.
\nIn line with market practice, the agreements signed with banks include market shock clauses and material
\nadverse change clauses (\u2018MAC\u2019 clauses) which could lead to, in extreme circumstances, additional costs for
\nthe Group or possibly the early termination of the credit facility. However, it should be noted that during the
\ncrises which have hit the financial markets, no bank has ever invoked one of these clauses towards the Group.
\n
\nNote 36.5: Exchange rate risk
\nAedifica generates its revenue and costs in the euro area and also in British pounds (since the acquisition of
\nthe UK portfolio in February 2019) and Swedish krona (since the acquisition of Hoivatilat in January 2021,
\nthrough the Swedish subsidiary). Future fluctuations in the exchange rate may affect the value of Aedifica\u2019s
\ninvestment properties, rental income and the net result, all of which are expressed in euros. A 10% change
\nof the \u00a3/\u20ac exchange rate has an impact of approx. \u20ac106.2 million on the fair value of the Group\u2019s investment
\nproperties located in the United Kingdom, approx. \u20ac6.5 million on the Group\u2019s annual rental income and
\napprox. \u20ac7.1 million on the Group\u2019s net result. A 10% change of the SEK/\u20ac exchange rate has an impact of
\napprox. \u20ac9.0 million on the fair value of the Group\u2019s investment properties located in Sweden, approx.
\n\u20ac0.4 million on the Group\u2019s annual rental income and approx. \u20ac0.5 million on the Group\u2019s net result.
\nAedifica partly financed its UK portfolio by a bond issue in British pounds. The \u00a3180 million bond was issued
\nin early 2021 through a private placement (\u00a3170 million with a maturity of 7 years and \u00a310 million with a
\nmaturity of 12 years). In addition, \u00a3160 million of bank loans were drawn in July 2022. These bank loans,
\ntogether with the aforementioned bond, form a partial natural hedge against exchange rate fluctuations on
\nthe balance sheet and limits the impact on the debt-to-assets ratio.
\nThe Company applies an active hedging policy covering the \u00a3/\u20ac exchange risk impacting Aedifica\u2019s results,
\nas deemed necessary, which takes into account, among other things, the volatility of the exchange rate
\nobserved from time to time and the cost of hedging (which itself is dependent on various elements). However,
\nan active hedging policy cannot completely eliminate the currency exchange risk and the Company remains
\nexposed to this risk. A change in the exchange rate that would not be covered by the Company\u2019s hedging
\npolicy may expose the Company to lower rental income and increased costs and can have a negative impact
\non the Company\u2019s assets, operations, financial position and prospects.
\n
\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfMarketRiskExplanatory",
"language": "en",
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"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
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"Tag785": {
"value": "\n
\n
\nNote 37: Contingencies and commitments
\nThe Board of Directors values commitments and contingencies at the nominal value of the legal obligation as
\nstated in the contract; in the absence of a nominal value or in exceptional cases, these values are disclosed
\nfor information purposes.
\n\nNote 37.1: Commitments
\nName
\nCountry
\nType
\nProgress
\nBudget
\n1
\n
\n(in \u20ac million)
\nAltadore
\nIE
\nExtension
\nIn progress (forward funding)
\n1
\nAm Parnassturm
\nDE
\nRenovation
\nIn progress (forward funding)
\n4
\nBavaria Senioren- und
\nPflegeheim
\nDE
\nRenovation
\nIn progress (forward funding)
\n1
\nBiddenham St James UK Acquisition Project/forward purchase subject
\nto outstanding conditions
\n15
\nDawlish
\n2
\n UK Acquisition Project/forward purchase subject
\nto outstanding conditions
\n16
\nDe Volder Staete
\nNL
\nConstruction
\nIn progress (forward funding)
\n13
\nDublin Stepaside
\nIE
\nConstruction
\nIn progress (forward funding)
\n26
\nFinland \u2013 \u2018childcare centres\u2019
\nFI
\nConstruction
\nIn progress (forward funding)
\n23
\nFinland \u2013 \u2018childcare centres\u2019
\nFI
\nConstruction
\nProject/forward purchase subject
\nto outstanding conditions
\n7
\nFinland \u2013 \u2018elderly care homes\u2019
\nFI
\nConstruction
\nIn progress (forward funding)
\n29
\nFinland \u2013 \u2018other\u2019 FI Construction In progress (forward funding) 58
\nFredenbeck
\nDE
\nConstruction
\nIn progress (forward funding)
\n15
\nHaus Marxloh
\n2
\n
\nDE
\nRenovation
\n& extension
\nIn progress (forward funding)
\n4
\nIn de Gouden Jaren
\nBE
\nRenovation
\nIn progress (forward funding)
\n1
\nMilitza Gent
\nBE
\nRenovation
\n& extension
\nIn progress (forward funding)
\n19
\nNorth Bay Group projects
\nUK
\nRenovation
\nIn progress (forward funding)
\n1
\nR\u00e9sidence le Douaire BE Acquisition Project/forward purchase subject
\nto outstanding conditions
\n17
\nR\u00e9sidence V\u00e9ronique
\nBE
\nRenovation
\n& extension
\nIn progress (forward funding)
\n10
\nSeniorenquartier Gera
\n2
\n
\nDE
\nConstruction
\nIn progress (forward funding)
\n16
\nSeniorenquartier
\nGummersbach
\nDE
\nConstruction
\nIn progress (forward funding)
\n30
\nSeniorenzentrum Berghof
\nDE
\nRenovation
\nIn progress (forward funding)
\n2
\nSligo Finisklin Road
\nIE
\nConstruction
\nIn progress (forward funding)
\n16
\nSpaldrick House UK Acquisition Project/forward purchase subject
\nto outstanding conditions
\n11
\nSt. Joseph\u2019s
\nUK
\nRenovation
\nIn progress (forward funding)
\n1
\nSt Mary\u2019s Lincoln
\nUK
\nConstruction
\nIn progress (forward funding)
\n16
\nSweden \u2013 pipeline 2024
\nSE
\nConstruction
\nIn progress (forward funding)
\n21
\nTomares Mir\u00f3
\nES
\nConstruction
\nIn progress (forward funding)
\n12
\nYork Bluebeck Drive
\nUK
\nConstruction
\nIn progress (forward funding)
\n16
\nZamora Av. de Valladolid
\nES
\nConstruction
\nIn progress (forward funding)
\n13
\nTOTAL 413
\n
\nEarn-outs
\nFor some acquisition deals, a portion of the acquisition price has been set based on future contingent events,
\nsuch as the payment of an earn-out, upon completion of a care residence within the limits of the maximum
\nbudget committed by Aedifica.
\n
\n
\n\n\n\n\n\n\n\n\nNote 37.2: Contingent liabilities
\n2.1 Credit facilities
\nUnder its credit agreements, Aedifica has granted securities on certain real estate assets within the legally
\nauthorised limits. In total, this concerns approx. 2% of total assets.
\n2.2 Acquisition of shares in property companies, mergers and de-mergers
\nAedifica benefits from warranties given by the sellers of shares in acquired property companies, such as
\nintegrity of the property, tax warranties, potential contingent consideration, etc. as contractually provided.
\nNote 37.3: Contingent assets
\n3.1 Securities received on rental agreements
\nAedifica benefits from rental guarantees (in line with market practice and applicable regulations) in the form
\nof bank guarantees, restricted bank deposits or guarantor backings that typically amount to 3 to 6 months of
\nrental income.
\n3.2 Securities received following acquisitions
\nIn case of acquisitions, contributions in kind, mergers and de-mergers, Aedifica benefits from the declarations
\nand securities in line with market practices.
\nNote 37.4: Other
\n4.1 Sundry options
\n\u2022
\nLong leases on healthcare sites: in some cases, Aedifica has granted preferential rights, renewal rights
\nor purchase options to the lessees/tenants. Aedifica also benefits from a number of preferential rights
\ngranted by rest homes lessees/tenants.
\n\u2022 Sale or purchase options (related to some development projects): in some cases, Aedifica has granted
\noptions to third parties, and/or benefits from options allowing it to sell buildings (e.g. when it appears
\nthat pieces of buildings will not be used for the development projects).
\n
\n
\n
\n
\n
\n1. The acquisition values mentioned below respect the requirements laid down in Article 49 \u00a7 1 of the Belgian Act of
\n12 May 2014 on Regulated Real Estate Companies (at the time of the signing of the agreements which generated the
\ncommitment).
\n2. This project has already been completed after 31 December 2023 (see Note 39).
\n
\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n",
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"concept": "ifrs-full:DisclosureOfCommitmentsAndContingentLiabilitiesExplanatory",
"language": "en",
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"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
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"Tag786": {
"value": "\nNote 37.1: Commitments
\nName
\nCountry
\nType
\nProgress
\nBudget
\n1
\n
\n(in \u20ac million)
\nAltadore
\nIE
\nExtension
\nIn progress (forward funding)
\n1
\nAm Parnassturm
\nDE
\nRenovation
\nIn progress (forward funding)
\n4
\nBavaria Senioren- und
\nPflegeheim
\nDE
\nRenovation
\nIn progress (forward funding)
\n1
\nBiddenham St James UK Acquisition Project/forward purchase subject
\nto outstanding conditions
\n15
\nDawlish
\n2
\n UK Acquisition Project/forward purchase subject
\nto outstanding conditions
\n16
\nDe Volder Staete
\nNL
\nConstruction
\nIn progress (forward funding)
\n13
\nDublin Stepaside
\nIE
\nConstruction
\nIn progress (forward funding)
\n26
\nFinland \u2013 \u2018childcare centres\u2019
\nFI
\nConstruction
\nIn progress (forward funding)
\n23
\nFinland \u2013 \u2018childcare centres\u2019
\nFI
\nConstruction
\nProject/forward purchase subject
\nto outstanding conditions
\n7
\nFinland \u2013 \u2018elderly care homes\u2019
\nFI
\nConstruction
\nIn progress (forward funding)
\n29
\nFinland \u2013 \u2018other\u2019 FI Construction In progress (forward funding) 58
\nFredenbeck
\nDE
\nConstruction
\nIn progress (forward funding)
\n15
\nHaus Marxloh
\n2
\n
\nDE
\nRenovation
\n& extension
\nIn progress (forward funding)
\n4
\nIn de Gouden Jaren
\nBE
\nRenovation
\nIn progress (forward funding)
\n1
\nMilitza Gent
\nBE
\nRenovation
\n& extension
\nIn progress (forward funding)
\n19
\nNorth Bay Group projects
\nUK
\nRenovation
\nIn progress (forward funding)
\n1
\nR\u00e9sidence le Douaire BE Acquisition Project/forward purchase subject
\nto outstanding conditions
\n17
\nR\u00e9sidence V\u00e9ronique
\nBE
\nRenovation
\n& extension
\nIn progress (forward funding)
\n10
\nSeniorenquartier Gera
\n2
\n
\nDE
\nConstruction
\nIn progress (forward funding)
\n16
\nSeniorenquartier
\nGummersbach
\nDE
\nConstruction
\nIn progress (forward funding)
\n30
\nSeniorenzentrum Berghof
\nDE
\nRenovation
\nIn progress (forward funding)
\n2
\nSligo Finisklin Road
\nIE
\nConstruction
\nIn progress (forward funding)
\n16
\nSpaldrick House UK Acquisition Project/forward purchase subject
\nto outstanding conditions
\n11
\nSt. Joseph\u2019s
\nUK
\nRenovation
\nIn progress (forward funding)
\n1
\nSt Mary\u2019s Lincoln
\nUK
\nConstruction
\nIn progress (forward funding)
\n16
\nSweden \u2013 pipeline 2024
\nSE
\nConstruction
\nIn progress (forward funding)
\n21
\nTomares Mir\u00f3
\nES
\nConstruction
\nIn progress (forward funding)
\n12
\nYork Bluebeck Drive
\nUK
\nConstruction
\nIn progress (forward funding)
\n16
\nZamora Av. de Valladolid
\nES
\nConstruction
\nIn progress (forward funding)
\n13
\nTOTAL 413
\n
\nEarn-outs
\nFor some acquisition deals, a portion of the acquisition price has been set based on future contingent events,
\nsuch as the payment of an earn-out, upon completion of a care residence within the limits of the maximum
\nbudget committed by Aedifica.
\n
\n
\n\n\n\n\n\n\n",
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"concept": "ifrs-full:DisclosureOfCommitmentsExplanatory",
"language": "en",
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"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
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"Tag787": {
"value": "\nNote 37.2: Contingent liabilities
\n2.1 Credit facilities
\nUnder its credit agreements, Aedifica has granted securities on certain real estate assets within the legally
\nauthorised limits. In total, this concerns approx. 2% of total assets.
\n2.2 Acquisition of shares in property companies, mergers and de-mergers
\nAedifica benefits from warranties given by the sellers of shares in acquired property companies, such as
\nintegrity of the property, tax warranties, potential contingent consideration, etc. as contractually provided.
\nNote 37.3: Contingent assets
\n3.1 Securities received on rental agreements
\nAedifica benefits from rental guarantees (in line with market practice and applicable regulations) in the form
\nof bank guarantees, restricted bank deposits or guarantor backings that typically amount to 3 to 6 months of
\nrental income.
\n3.2 Securities received following acquisitions
\nIn case of acquisitions, contributions in kind, mergers and de-mergers, Aedifica benefits from the declarations
\nand securities in line with market practices.
\nNote 37.4: Other
\n4.1 Sundry options
\n\u2022
\nLong leases on healthcare sites: in some cases, Aedifica has granted preferential rights, renewal rights
\nor purchase options to the lessees/tenants. Aedifica also benefits from a number of preferential rights
\ngranted by rest homes lessees/tenants.
\n\u2022 Sale or purchase options (related to some development projects): in some cases, Aedifica has granted
\noptions to third parties, and/or benefits from options allowing it to sell buildings (e.g. when it appears
\nthat pieces of buildings will not be used for the development projects).
\n
\n
\n
\n
\n
\n1. The acquisition values mentioned below respect the requirements laid down in Article 49 \u00a7 1 of the Belgian Act of
\n12 May 2014 on Regulated Real Estate Companies (at the time of the signing of the agreements which generated the
\ncommitment).
\n2. This project has already been completed after 31 December 2023 (see Note 39).
\n
\n\n\n\n\n\n\n",
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"concept": "ifrs-full:DisclosureOfContingentLiabilitiesExplanatory",
"language": "en",
"entity": "scheme:529900DTKNXL0AXQFN28",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
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"Tag701": {
"value": "\nNote 39: Post-closing events
\nThe table below lists all post-balance sheet events (see also section 1.2 \u2018of the \u2018Financial review\u2019 chapter) up
\nto and including 15 March 2024, the closing date of this report.
\nName
\nDate
\nTransaction
\nCountry
\nLocation
\nSalo Linnankoskentie
\n02/01/2024
\nCompletion of a development project
\nFI
\nSalo
\nHollola Kulmatie
\n08/01/2024
\nCompletion of a development project
\nFI
\nHollola
\nSotkamo H\u00e4rk\u00f6kivenkatu
\n23/01/2024
\nCompletion of a development project
\nFI
\nSotkamo
\nKuopio Torpankatu 31/01/2024 Completion of a development project FI Kuopio
\nHaus Marxloh
\n31/01/2024
\nCompletion of a renovation project
\nDE
\nDuisburg
\nPortfolio of 6 care
\nresidences
\n02/02/2024
\nAcquisition of the remaining stake of
\n50% in a portfolio operated by Korian
\nNetherlands (AK JV)
\nNL
\nVarious
\nlocations
\nDawlish
\n15/02/2024
\nCompletion of a development project
\nUK
\nDawlish
\nRovaniemi Gardininkuja
\n29/02/2024
\nCompletion of a development project
\nFI
\nRovaniemi
\nSeniorenquartier Gera
\n29/02/2024
\nCompletion of a development project
\nDE
\nGera
\nHelsinki Landbontie 04/03/2024 Completion of a development project FI Helsinki
\n
\n\n",
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"concept": "ifrs-full:DisclosureOfEventsAfterReportingPeriodExplanatory",
"language": "en",
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"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
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"Tag702": {
"value": "\n
\n\n
\n\n
\n\nNote 40: List of subsidiaries, associates and joint ventures
\nThe table below presents a full list of the companies covered by Articles 3:104 and 3:156 of the Royal Decree
\nof 29 April 2019 pertaining to the execution of the Belgian Companies and Associations Code.
\nAs from the 2021 financial year, the Dutch subsidiaries of Aedifica NV will make use of the exemption provided
\nfor in Article 2:403 of the Dutch Civil Code. Consequently, the Dutch companies are exempted from filing
\nindividual financial statements with the trade register in the Netherlands
\n
\nNAME
\nCountry
\nCategory
\nRegister of
\ncorporations
\nCapital held
\n(in %)
\nAedifica Invest NV
\nBelgium \u00b9
\nSubsidiary
\n0879.109.317
\n100
\nImmobe NV
\nBelgium
\nAssociate
\n0697.566.095
\n25 \u00b9\u00b2
\nAED GVBF 1 NV
\nBelgium
\nSubsidiary
\n1003.556.060
\n100
\nAED GVBF 2 NV
\nBelgium
\nSubsidiary
\n1003.556.654
\n100
\nAED GVBF 3 NV
\nBelgium
\nSubsidiary
\n1003.557.347
\n100
\nAED GVBF 4 NV
\nBelgium
\nSubsidiary
\n1003.557.644
\n100
\nAED GVBF 5 NV Belgium Subsidiary 1003.552.201 100
\nAED GVBF 6 NV
\nBelgium
\nSubsidiary
\n1003.553.090
\n100
\nAED GVBF 7 NV
\nBelgium
\nSubsidiary
\n1003.553.684
\n100
\nAED GVBF 8 NV
\nBelgium
\nSubsidiary
\n1003.554.377
\n100
\nAED GVBF 9 NV
\nBelgium
\nSubsidiary
\n1003.554.674
\n100
\nAED GVBF 10 NV
\nBelgium
\nSubsidiary
\n1003.554.971
\n100
\nAED GVBF 11 NV
\nBelgium
\nSubsidiary
\n1003.555.169
\n100
\nAedifica Residenzen 1 GmbH&Co. KG
\nGermany \u00b2
\nSubsidiary
\nHRB112641
\n94 \u00b9\u00b3
\nAedifica Residenzen 2 GmbH&Co. KG
\nGermany
\nSubsidiary
\nHRB115795
\n94 \u00b9\u00b3
\nAedifica Residenzen 3 GmbH Germany Subsidiary HRB118227 94 \u00b9\u00b3
\nAedifica Residenzen 4 GmbH
\nGermany
\nSubsidiary
\nHRB121918
\n94 \u00b9\u00b3
\nAedifica Residenzen 5 GmbH
\nGermany
\nSubsidiary
\nHRB36193
\n94 \u00b9\u00b3
\nAedifica Residenzen 6 GmbH
\nGermany
\nSubsidiary
\nHRB33909
\n94 \u00b9\u00b3
\nAedifica Residenzen Nord GmbH&Co. KG
\nGermany
\nSubsidiary
\nHRB110850
\n94 \u00b9\u00b3
\nAedifica Residenzen West GmbH
\nGermany
\nSubsidiary
\nHRB117957
\n94 \u00b9\u00b3
\nAedifica Verwaltungs GmbH
\nGermany
\nSubsidiary
\nHRB111389
\n100
\nAedifica Asset Management GmbH
\nGermany
\nSubsidiary
\nHRB100562
\n100
\nAedifica Luxemburg I SCS Luxembourg \u00b3 Subsidiary B128048 94 \u00b9\u00b3
\nAedifica Luxemburg II SCS
\nLuxembourg
\nSubsidiary
\nB139725
\n94 \u00b9\u00b3
\nAedifica Luxemburg III SCS
\nLuxembourg
\nSubsidiary
\nB143704
\n94 \u00b9\u00b3
\nAedifica Luxemburg IV SCS
\nLuxembourg
\nSubsidiary
\nB117441
\n94 \u00b9\u00b3
\nAedifica Luxemburg V SCS
\nLuxembourg
\nSubsidiary
\nB117445
\n94 \u00b9\u00b3
\nAedifica Luxemburg VI SCS
\nLuxembourg
\nSubsidiary
\nB132154
\n94 \u00b9\u00b3
\nAedifica Luxemburg VII SCS
\nLuxembourg
\nSubsidiary
\nB117438
\n94 \u00b9\u00b3
\nAedifica Luxemburg VIII SCS
\nLuxembourg
\nSubsidiary
\nB117437
\n94 \u00b9\u00b3
\nAedifica Nederland BV Netherlands \u2074 Subsidiary 65422082 100
\nAedifica Nederland 2 BV
\nNetherlands
\nSubsidiary
\n75102099
\n100
\nAedifica Nederland Services BV
\nNetherlands
\nSubsidiary
\n75667800
\n100
\nAedifica Nederland 3 BV
\nNetherlands
\nSubsidiary
\n77636309
\n100
\nAedifica Nederland 4 BV
\nNetherlands
\nSubsidiary
\n81056664
\n100
\nAedifica Nederland Joint Venture BV
\nNetherlands
\nSubsidiary
\n80885551
\n100
\nAK JV NL public partnership
\nNetherlands
\nJoint-venture
\n81197470
\n50 \u00b9\u2074
\nAedifica Sonneborgh Real Estate BV
\nNetherlands
\nSubsidiary
\n84354267
\n75 \u00b9\u2075
\nAedifica Sonneborgh Ontwikkeling BV Netherlands Associate 64278859 50 \u00b9\u2074
\nNAME Country Category Register of
\ncorporations
\nCapital held
\n(in %)
\nCHAPP Holdings Ltd
\nJersey\u2075
\nSubsidiary
\n109055
\n100
\nPatient Properties (Beech Court) Ltd
\nJersey
\nSubsidiary
\n123678
\n100
\nPatient Properties (Springfields) Ltd Jersey Subsidiary 123687 100
\nPatient Properties (Eltandia) Ltd
\nJersey
\nSubsidiary
\n123682
\n100
\nPatient Properties (Windmill) Ltd
\nJersey
\nSubsidiary
\n123699
\n100
\nPatient Properties (Brook House) Ltd
\nJersey
\nSubsidiary
\n123680
\n100
\nLV Holdings Ltd
\nJersey
\nSubsidiary
\n103669
\n100
\nLV Charrieres Ltd
\nJersey
\nSubsidiary
\n133548
\n100
\nLV St. Josephs Ltd
\nJersey
\nSubsidiary
\n129910
\n100
\nAedifica UK Ltd
\nUK \u2076
\nSubsidiary
\n12351073
\n100
\nAedifica Finance 1 Ltd UK Subsidiary 12352308 100
\nAedifica Finance 2 Ltd
\nUK
\nSubsidiary
\n12352800
\n100
\nMaple Court Nursing Home Ltd
\nUK
\nSubsidiary
\n07295828
\n100
\nQuercus Homes 2018 Ltd
\nUK
\nSubsidiary
\n11278772
\n100
\nSapphire Properties (2016) Ltd
\nUK
\nSubsidiary
\n09461514
\n100
\nAedifica UK (Ampthill) Ltd
\nUK
\nSubsidiary
\n11159774
\n100
\nAedifica UK (Hailsham) Ltd
\nUK
\nSubsidiary
\n11159930
\n100
\nMarches Care Holdings Ltd
\nUK
\nSubsidiary
\n7097091
\n100
\nPriesty Fields Developments Ltd UK Subsidiary 10806474 100
\nAedifica Management Ltd
\nUK
\nSubsidiary
\n4797971
\n100
\nAedifica UK (Marston) Ltd
\nUK
\nSubsidiary
\n13816311
\n100
\nAedifica UK (Hessle) Ltd
\nUK
\nSubsidiary
\n10674329
\n100
\nAedifica UK (Lincoln) Ltd
\nUK
\nSubsidiary
\n13449716
\n100
\nMMCG 2 DEVCO 2 Ltd
\nUK (JO) \u2077
\nAssociate
\n13483857
\n25+1 \u00b9\u00b2
\nMMCG 2 DEVCO 3 Ltd
\nUK (JO)
\nAssociate
\n13483907
\n25+1 \u00b9\u00b2
\nAureit Holding Oy
\nFinland \u2078
\nSubsidiary
\n3092783-5
\n100
\nHoivatilat Oyj Finland Subsidiary 2241238-0 100
\nAs Oy Sein\u00e4joen Saga
\nFinland
\nSubsidiary
\n2779544-8
\n100
\nKoy \u00c4\u00e4nekosken \u00c4\u00e4neniementie 22
\nFinland
\nSubsidiary
\n3264862-9
\n100
\nKoy \u00c4\u00e4nekosken Likolahdenkatu
\nFinland
\nSubsidiary
\n2875205-2
\n100
\nKoy Espoon Fall\u00e5kerinrinne
\nFinland
\nSubsidiary
\n2620688-3
\n100
\nKoy Espoon Hirvisuontie
\nFinland
\nSubsidiary
\n2755334-2
\n100
\nKoy Espoon Kurttilantie
\nFinland
\nSubsidiary
\n3134900-2
\n100
\nKoy Espoon Kuurinkallio
\nFinland
\nSubsidiary
\n3201659-2
\n100
\nKoy Espoon Matinkartanontie
\nFinland
\nSubsidiary
\n3117665-8
\n100
\nKoy Espoon Meriviitantie Finland Subsidiary 2720369\u20102 100
\nKoy Espoon Oppilaantie
\nFinland
\nSubsidiary
\n2787263\u20104
\n100
\nKoy Espoon Palstalaisentie 4
\nFinland
\nSubsidiary
\n3309285-3
\n100
\nKoy Espoon Rajam\u00e4nnynahde
\nFinland
\nSubsidiary
\n3194972-9
\n100
\nKoy Espoon Tikasm\u00e4entie
\nFinland
\nSubsidiary
\n2669018-5
\n100
\nKoy Espoon Vuoripirtintie
\nFinland
\nSubsidiary
\n2748087-6
\n100
\nKoy Euran K\u00e4r\u00e4j\u00e4m\u00e4entie
\nFinland
\nSubsidiary
\n2842931\u20109
\n100
\nKoy Hakalahden Majakka
\nFinland
\nSubsidiary
\n2668724-2
\n100
\nKoy H\u00e4meenlinna Kampuskaarre Finland Subsidiary 3175924-7 100
\nKoy H\u00e4meenlinnan Jukolanraitti
\nFinland
\nSubsidiary
\n2826099\u20108
\n100
\nKoy H\u00e4meenlinnan Ruununmyllyntie
\nFinland
\nSubsidiary
\n3267462-4
\n100
\nKoy H\u00e4meenlinnan Vanha Alikartanontie
\nFinland
\nSubsidiary
\n2669024\u20109
\n100
\nKoy Haminan Lepik\u00f6nranta
\nFinland
\nSubsidiary
\n2988685\u20103
\n100
\nKoy Heinolan L\u00e4hteentie
\nFinland
\nSubsidiary
\n2752188\u20105
\n100
\n
\n\n\n
\n\n\n
\n\n\n
\n\n\n
\n\n
\n\n
\n\nNAME Country Category Register of
\ncorporations
\nCapital held
\n(in %)
\nKoy Helsingin Ensikodin tie 4
\nFinland
\nSubsidiary
\n3220641-7
\n100
\nKoy Helsingin Kansantie
\nFinland
\nSubsidiary
\n3214270-8
\n100
\nKoy Helsingin K\u00e4r\u00e4j\u00e4tuvantie Finland Subsidiary 3287010-7 100
\nKoy Helsingin Kr\u00e4mertintie
\nFinland
\nSubsidiary
\n3323987-8
\n100
\nKoy Helsingin Kutomokuja
\nFinland
\nSubsidiary
\n3287009-4
\n100
\nKoy Helsingin L\u00e4hdepolku
\nFinland
\nSubsidiary
\n3279404-4
\n100
\nKoy Helsingin Landbontie
\nFinland
\nSubsidiary
\n3270229-3
\n100
\nKoy Helsingin Pakarituvantie
\nFinland
\nSubsidiary
\n3131782-8
\n100
\nKoy Helsingin Radiokatu
\nFinland
\nSubsidiary
\n3270230-6
\n100
\nKoy Helsingin Ty\u00f6njohtajankadun Sepp\u00e43
\nFinland
\nSubsidiary
\n3009977-7
\n100
\nKoy Hollolan Kulmalantie 2 Finland Subsidiary 3354537-3 100
\nKoy Hollolan Sarkatie
\nFinland
\nSubsidiary
\n2749865\u20104
\n100
\nKoy Iisalmen Etel\u00e4inen Puistoraitti
\nFinland
\nSubsidiary
\n2840090\u20103
\n100
\nKoy Iisalmen Kangaslammintie
\nFinland
\nSubsidiary
\n2826102\u20106
\n100
\nKoy Iisalmen Petter Kumpulaisentie
\nFinland
\nSubsidiary
\n2882785\u20101
\n100
\nKoy Iisalmen Satamakatu
\nFinland
\nSubsidiary
\n3005776-1
\n100
\nKoy Iisalmen Vemmelkuja
\nFinland
\nSubsidiary
\n2917923\u20105
\n100
\nKoy Janakkalan Kekanahontie
\nFinland
\nSubsidiary
\n2911674\u20104
\n100
\nKoy J\u00e4rvenp\u00e4\u00e4n Auertie Finland Subsidiary 3279405-2 100
\nKoy J\u00e4rvenp\u00e4\u00e4n Yliopettajankatu
\nFinland
\nSubsidiary
\n2774063-1
\n100
\nKoy Jyv\u00e4skyl\u00e4n Ailakinkatu
\nFinland
\nSubsidiary
\n2932895\u20108
\n100
\nKoy Jyv\u00e4skyl\u00e4n Haperontie
\nFinland
\nSubsidiary
\n2763296\u20104
\n100
\nKoy Jyv\u00e4skyl\u00e4n Harjutie
\nFinland
\nSubsidiary
\n3172893-4
\n100
\nKoy Jyv\u00e4skyl\u00e4n Haukankaari
\nFinland
\nSubsidiary
\n3174128-2
\n100
\nKoy Jyv\u00e4skyl\u00e4n Mannisenm\u00e4entie
\nFinland
\nSubsidiary
\n2816983\u20106
\n100
\nKoy Jyv\u00e4skyl\u00e4n Martikaisentie
\nFinland
\nSubsidiary
\n2575556-5
\n100
\nKoy Jyv\u00e4skyl\u00e4n Palstatie Finland Subsidiary 2923254\u20102 100
\nKoy Jyv\u00e4skyl\u00e4n Sulkulantie
\nFinland
\nSubsidiary
\n2850306-4
\n100
\nKoy Jyv\u00e4skyl\u00e4n V\u00e4liharjuntie
\nFinland
\nSubsidiary
\n2639227\u20106
\n100
\nKoy Jyv\u00e4skyl\u00e4n V\u00e4vypojanpolku
\nFinland
\nSubsidiary
\n2960547\u20106
\n100
\nKoy Kaarinan Nurminiitynkatu
\nFinland
\nSubsidiary
\n2838030\u20108
\n100
\nKoy Kajaanin Er\u00e4tie
\nFinland
\nSubsidiary
\n2749663\u20102
\n100
\nKoy Kajaanin Hoikankatu
\nFinland
\nSubsidiary
\n2951667\u20106
\n100
\nKoy Kajaanin Mennink\u00e4isentie
\nFinland
\nSubsidiary
\n2681416\u20108
\n100
\nKoy Kajaanin Uitontie
\nFinland
\nSubsidiary
\n3164208-1
\n100
\nKoy Kangasalan Hilmanhovi Finland Subsidiary 2262908\u20108 100
\nKoy Kangasalan M\u00e4ntyver\u00e4j\u00e4ntie
\nFinland
\nSubsidiary
\n2688361\u20104
\n100
\nKoy Kangasalan Reki\u00e4l\u00e4ntie
\nFinland
\nSubsidiary
\n2940754-1
\n100
\nKoy Kaskisten Bladintie
\nFinland
\nSubsidiary
\n2224949-9
\n100
\nKoy Kempeleen Ihmemaantie
\nFinland
\nSubsidiary
\n3112115-5
\n100
\nKoy Keravan Lehmuskatu
\nFinland
\nSubsidiary
\n3256470-8
\n100
\nKoy Keravan M\u00e4nnik\u00f6ntie
\nFinland
\nSubsidiary
\n2774061\u20105
\n100
\nKoy Keravan Pianosoittajankatu
\nFinland
\nSubsidiary
\n3368773-4
\n100
\nKoy Keuruun Tehtaantie Finland Subsidiary 2877302\u20101 100
\nKoy Kirkkonummen Kotitontunkuja
\nFinland
\nSubsidiary
\n2692080\u20109
\n100
\nKoy Kokkola Kruunupyyntie
\nFinland
\nSubsidiary
\n3349210-1
\n100
\nKoy Kokkolan Ankkurikuja
\nFinland
\nSubsidiary
\n2955766\u20102
\n100
\nKoy Kokkolan Kaarlelankatu 68
\nFinland
\nSubsidiary
\n2668743-7
\n100
\nKoy Kokkolan Vanha Ouluntie
\nFinland
\nSubsidiary
\n2771913\u20108
\n100
\nNAME Country Category Register of
\ncorporations
\nCapital held
\n(in %)
\nKoy Kotkan Mets\u00e4kulmankatu 21
\nFinland
\nSubsidiary
\n2225111-8
\n100
\nKoy Kotkan S\u00e4rm\u00e4\u00e4j\u00e4nkatu 6
\nFinland
\nSubsidiary
\n3169793-9
\n100
\nKoy Kouvolan Kaartokuja Finland Subsidiary 2697590\u20106 100
\nKoy Kouvolan Rannikkotie
\nFinland
\nSubsidiary
\n2941695-8
\n100
\nKoy Kouvolan Ruskeasuonkatu
\nFinland
\nSubsidiary
\n2955751-5
\n100
\nKoy Kouvolan Vainiolankuja
\nFinland
\nSubsidiary
\n3134903-7
\n100
\nKoy Kouvolan Vinttikaivontie
\nFinland
\nSubsidiary
\n2543325\u20109
\n100
\nKoy Kuopion Amerikanraitti 10
\nFinland
\nSubsidiary
\n2837113\u20107
\n100
\nKoy Kuopion M\u00e4nnist\u00f6nkatu
\nFinland
\nSubsidiary
\n3127190-3
\n100
\nKoy Kuopion Opistokuja 3
\nFinland
\nSubsidiary
\n3176660-7
\n100
\nKoy Kuopion Pirtinkaari Finland Subsidiary 2873993-1 100
\nKoy Kuopion Portti A2
\nFinland
\nSubsidiary
\n2874104-6
\n100
\nKoy Kuopion Rantaraitti
\nFinland
\nSubsidiary
\n2770280\u20103
\n100
\nKoy Kuopion Sipulikatu
\nFinland
\nSubsidiary
\n2509836\u20106
\n100
\nKoy Kuopion Torpankatu
\nFinland
\nSubsidiary
\n3338477-6
\n100
\nKoy Lahden Jahtikatu
\nFinland
\nSubsidiary
\n2861249\u20108
\n100
\nKoy Lahden Kurenniityntie
\nFinland
\nSubsidiary
\n3008794-4
\n100
\nKoy Lahden Makarantie
\nFinland
\nSubsidiary
\n2988683-7
\n100
\nKoy Lahden Piisamikatu Finland Subsidiary 2861251\u20109 100
\nKoy Lahden Vallesmanninkatu A
\nFinland
\nSubsidiary
\n2675831\u20101
\n100
\nKoy Lahden Vallesmanninkatu B
\nFinland
\nSubsidiary
\n2675827\u20104
\n100
\nKoy Laihian Jarrumiehentie
\nFinland
\nSubsidiary
\n2798400\u20103
\n100
\nKoy Lappeenrannan Orioninkatu
\nFinland
\nSubsidiary
\n2877591\u20106
\n100
\nKoy Laukaan Hyt\u00f6senkuja
\nFinland
\nSubsidiary
\n2681456\u20103
\n100
\nKoy Laukaan Peurungantie
\nFinland
\nSubsidiary
\n2821700-9
\n100
\nKoy Laukaan Saratie
\nFinland
\nSubsidiary
\n2896187\u20104
\n100
\nKoy Lemp\u00e4\u00e4l\u00e4n Tampereentie Finland Subsidiary 3266246-3 100
\nKoy Limingan Kauppakaari
\nFinland
\nSubsidiary
\n2553773\u20106
\n100
\nKoy Limingan Saunarannantie
\nFinland
\nSubsidiary
\n3267223-1
\n100
\nKoy Lohjan Ansatie
\nFinland
\nSubsidiary
\n2768296\u20101
\n100
\nKoy Lohjan Porapojankuja
\nFinland
\nSubsidiary
\n3130512-2
\n100
\nKoy Lohjan Sahapiha
\nFinland
\nSubsidiary
\n3132701-4
\n100
\nKoy Loimaan Itsen\u00e4isyydenkatu
\nFinland
\nSubsidiary
\n2887703-1
\n100
\nKoy Loviisan Mannerheiminkatu
\nFinland
\nSubsidiary
\n2648698\u20105
\n100
\nKoy M\u00e4nts\u00e4l\u00e4n Liedontie
\nFinland
\nSubsidiary
\n2505670\u20105
\n100
\nKoy M\u00e4ntyharjun L\u00e4\u00e4k\u00e4rinkuja Finland Subsidiary 2761813\u20104 100
\nKoy Maskun Ruskontie
\nFinland
\nSubsidiary
\n2610017\u20103
\n100
\nKoy Mikkelin Kastanjakuja
\nFinland
\nSubsidiary
\n2915481-2
\n100
\nKoy Mikkelin Sahalantie
\nFinland
\nSubsidiary
\n3004499-5
\n100
\nKoy Mikkelin V\u00e4\u00e4n\u00e4senpolku
\nFinland
\nSubsidiary
\n2864738\u20103
\n100
\nKoy Mikkelin Yl\u00e4nnetie 8
\nFinland
\nSubsidiary
\n2839320\u20105
\n100
\nKoy Myn\u00e4m\u00e4en Opintie
\nFinland
\nSubsidiary
\n2957425\u20101
\n100
\nKoy Nokian Kivimiehenkatu 4
\nFinland
\nSubsidiary
\n1056103-9
\n100
\nKoy Nokian Luhtatie Finland Subsidiary 2882228-4 100
\nKoy Nokian N\u00e4si\u00e4katu
\nFinland
\nSubsidiary
\n2772561\u20108
\n100
\nKoy Nokian T\u00e4htisumunkatu
\nFinland
\nSubsidiary
\n3328037-9
\n100
\nKoy Nokian Vikkulankatu
\nFinland
\nSubsidiary
\n2720339\u20103
\n100
\nKoy Nurmij\u00e4rven Laidunalue
\nFinland
\nSubsidiary
\n2415548\u20108
\n100
\nKoy Nurmij\u00e4rven Luhtavillantie
\nFinland
\nSubsidiary
\n3202629-9
\n100
\n
\n\n\n
\n\n\n
\n\n\n
\n\n\n
\n\n
\n\n
\n\nNAME Country Category Register of
\ncorporations
\nCapital held
\n(in %)
\nKoy Nurmij\u00e4rven Ratakuja
\nFinland
\nSubsidiary
\n2807462\u20106
\n100
\nKoy Orimattilan Suppulanpolku
\nFinland
\nSubsidiary
\n2750819\u20107
\n100
\nKoy Oulun Isopurjeentie 3 Finland Subsidiary 2255743-2 100
\nKoy Oulun Jahtivoudintie
\nFinland
\nSubsidiary
\n2759228-8
\n100
\nKoy Oulun Juhlamarssi
\nFinland
\nSubsidiary
\n3217953-5
\n100
\nKoy Oulun M\u00e4ntypellonpolku
\nFinland
\nSubsidiary
\n3182688-4
\n100
\nKoy Oulun Raamipolku
\nFinland
\nSubsidiary
\n2798361-7
\n100
\nKoy Oulun Ruismets\u00e4
\nFinland
\nSubsidiary
\n3008792-8
\n100
\nKoy Oulun Salonp\u00e4\u00e4n koulu
\nFinland
\nSubsidiary
\n3100847-8
\n100
\nKoy Oulun Sarvisuontie
\nFinland
\nSubsidiary
\n2899591\u20109
\n100
\nKoy Oulun Siilotie Finland Subsidiary 3006511-2 100
\nKoy Oulun Siilotie K21 A
\nFinland
\nSubsidiary
\n3311639-2
\n100
\nKoy Oulun Siilotie K21 B
\nFinland
\nSubsidiary
\n3311641-3
\n100
\nKoy Oulun Siilotie K21 C
\nFinland
\nSubsidiary
\n3311642-1
\n100
\nKoy Oulun Soittajanlenkki
\nFinland
\nSubsidiary
\n2920514-9
\n100
\nKoy Oulun Tahtimarssi
\nFinland
\nSubsidiary
\n3331416-1
\n100
\nKoy Oulun Ukkoherrantie A
\nFinland
\nSubsidiary
\n3141465-2
\n100
\nKoy Oulun Ukkoherrantie B
\nFinland
\nSubsidiary
\n2781801\u20103
\n100
\nKoy Oulun Upseerinkatu Finland Subsidiary 3302679-2 100
\nKoy Oulun Vaaranpiha
\nFinland
\nSubsidiary
\n3146139-5
\n100
\nKoy Oulun Valjastie
\nFinland
\nSubsidiary
\n3139840-2
\n100
\nKoy Oulun Villa Sulka
\nFinland
\nSubsidiary
\n2695880-7
\n100
\nKoy Oulun Vihannestie
\nFinland
\nSubsidiary
\n3127183-1
\n100
\nKoy Paimion M\u00e4kil\u00e4ntie
\nFinland
\nSubsidiary
\n2853714\u20101
\n100
\nKoy Pateniemenranta
\nFinland
\nSubsidiary
\n2930852-7
\n100
\nKoy Pieks\u00e4m\u00e4en Ruustinnantie
\nFinland
\nSubsidiary
\n2903250-8
\n100
\nKoy Pihtiputaan Nurmelanpolku Finland Subsidiary 2860057\u20107 100
\nKoy Pirkkalan Lehtim\u00e4entie
\nFinland
\nSubsidiary
\n2593596\u20101
\n100
\nKoy Pirkkalan Perensaarentie
\nFinland
\nSubsidiary
\n2808085\u20108
\n100
\nKoy Porin Kerhotie 1
\nFinland
\nSubsidiary
\n3145625-4
\n100
\nKoy Porin Koekatu
\nFinland
\nSubsidiary
\n2835076\u20106
\n100
\nKoy Porin Ojantie
\nFinland
\nSubsidiary
\n2625961\u20109
\n100
\nKoy Porvoon Fredrika Runebergin katu
\nFinland
\nSubsidiary
\n2760328\u20102
\n100
\nKoy Porvoon Haarap\u00e4\u00e4skyntie
\nFinland
\nSubsidiary
\n2951666\u20108
\n100
\nKoy Porvoon Peippolankuja
\nFinland
\nSubsidiary
\n2588814\u20109
\n100
\nKoy Porvoon Vanha Kuninkaantie Finland Subsidiary 2746305\u20106 100
\nKoy Raahen Kirkkokatu
\nFinland
\nSubsidiary
\n3143874-2
\n100
\nKoy Raahen Palokunnanhovi
\nFinland
\nSubsidiary
\n2326426\u20100
\n100
\nKoy Raahen Vihastenkarinkatu
\nFinland
\nSubsidiary
\n2917887-3
\n100
\nKoy Raision Tenavakatu
\nFinland
\nSubsidiary
\n2553772\u20108
\n100
\nKoy Riihim\u00e4en Jyr\u00e4tie
\nFinland
\nSubsidiary
\n2956737-7
\n100
\nKoy Rovaniemen Gardininkuja
\nFinland
\nSubsidiary
\n3100848-6
\n100
\nKoy Rovaniemen Koulukaari
\nFinland
\nSubsidiary
\n3239963-4
\n100
\nKoy Rovaniemen M\u00e4kiranta Finland Subsidiary 2994385-4 100
\nKoy Rovaniemen Matkavaarantie
\nFinland
\nSubsidiary
\n2838821\u20101
\n100
\nKoy Rovaniemen Muonakuja
\nFinland
\nSubsidiary
\n3110312-5
\n100
\nKoy Rovaniemen Rakkakiventie
\nFinland
\nSubsidiary
\n2865638-6
\n100
\nKoy Rovaniemen Ritarinne
\nFinland
\nSubsidiary
\n2754616\u20109
\n100
\nKoy Rovaniemen Santam\u00e4entie
\nFinland
\nSubsidiary
\n3008789-9
\n100
\nNAME Country Category Register of
\ncorporations
\nCapital held
\n(in %)
\nKoy Ruskon P\u00e4\u00e4llist\u00f6nm\u00e4entie
\nFinland
\nSubsidiary
\n2789540\u20106
\n100
\nKoy Salon Linnankoskentie
\nFinland
\nSubsidiary
\n3330201-3
\n100
\nKoy Salon Papinkuja Finland Subsidiary 3155224-6 100
\nKoy Siilinj\u00e4rven Nilsi\u00e4ntie
\nFinland
\nSubsidiary
\n2934834\u20102
\n100
\nKoy Siilinj\u00e4rven Risulantie
\nFinland
\nSubsidiary
\n2854061\u20105
\n100
\nKoy Siilinj\u00e4rven Sinisiipi
\nFinland
\nSubsidiary
\n2479104\u20106
\n100
\nKoy Sipoon Aarrepuistonkuja
\nFinland
\nSubsidiary
\n2878144\u20103
\n100
\nKoy Sipoon Aarretie
\nFinland
\nSubsidiary
\n2870619\u20105
\n100
\nKoy Sotkamon H\u00e4rk\u00f6kivenkatu
\nFinland
\nSubsidiary
\n3314858-9
\n100
\nKoy Sotkamon Kirkkotie
\nFinland
\nSubsidiary
\n2917890\u20102
\n100
\nKoy Tampereen Haiharansuu Finland Subsidiary 3192647-1 100
\nKoy Tampereen Lent\u00e4v\u00e4nniemenkatu
\nFinland
\nSubsidiary
\n2648697\u20107
\n100
\nKoy Tampereen Sisunaukio
\nFinland
\nSubsidiary
\n2355346-8
\n100
\nKoy Tampereen Ter\u00e4skatu
\nFinland
\nSubsidiary
\n3284989-3
\n100
\nKoy Teuvan Tuokkolantie 14
\nFinland
\nSubsidiary
\n2225109-7
\n100
\nKoy Tornion Torpin Rinnakkaiskatu
\nFinland
\nSubsidiary
\n2816984\u20104
\n100
\nKoy Turun Lemmontie
\nFinland
\nSubsidiary
\n2551472-9
\n100
\nKoy Turun Lukkosep\u00e4nkatu
\nFinland
\nSubsidiary
\n2842686\u20103
\n100
\nKoy Turun Malin Tr\u00e4llinkuja Finland Subsidiary 3171440-1 100
\nKoy Turun Paltankatu
\nFinland
\nSubsidiary
\n2845199\u20107
\n100
\nKoy Turun Teollisuuskatu
\nFinland
\nSubsidiary
\n2729980\u20107
\n100
\nKoy Turun V\u00e4h\u00e4heikkil\u00e4ntie
\nFinland
\nSubsidiary
\n2660277\u20101
\n100
\nKoy Turun Vakiniituntie
\nFinland
\nSubsidiary
\n2648689\u20107
\n100
\nKoy Tuusulan Isokarhunkierto
\nFinland
\nSubsidiary
\n3005414-9
\n100
\nKoy Tuusulan Temmontie
\nFinland
\nSubsidiary
\n3325587-8
\n100
\nKoy Ulvilan Kulmalantie
\nFinland
\nSubsidiary
\n2966954-1
\n100
\nKoy Uudenkaupungin Merilinnuntie Finland Subsidiary 2878831\u20101 100
\nKoy Uudenkaupungin Merimetsopolku B
\nFinland
\nSubsidiary
\n2798800\u20104
\n100
\nKoy Uudenkaupungin Merimetsopolku C
\nFinland
\nSubsidiary
\n2797654\u20108
\n100
\nKoy Uudenkaupungin Puusep\u00e4nkatu
\nFinland
\nSubsidiary
\n2766340\u20102
\n100
\nKoy Vaasan M\u00e4kikaivontie 22
\nFinland
\nSubsidiary
\n1743075-2
\n100
\nKoy Vaasan Tehokatu 10
\nFinland
\nSubsidiary
\n2246849-9
\n100
\nKoy Vaasan Uusmets\u00e4ntie
\nFinland
\nSubsidiary
\n3000725-4
\n100
\nKoy Vaasan Vanhan Vaasankatu
\nFinland
\nSubsidiary
\n2882784\u20103
\n100
\nKoy Valkeakosken Juusontie
\nFinland
\nSubsidiary
\n3244769-1
\n100
\nKoy Vantaan Asolantie 14 Finland Subsidiary 2319120-9 100
\nKoy Vantaan Haravakuja
\nFinland
\nSubsidiary
\n3331473-5
\n100
\nKoy Vantaan Koetilankatu
\nFinland
\nSubsidiary
\n2656382\u20101
\n100
\nKoy Vantaan Koivukyl\u00e4n Puistotie
\nFinland
\nSubsidiary
\n2933844\u20103
\n100
\nKoy Vantaan Mesikukantie
\nFinland
\nSubsidiary
\n2755333\u20104
\n100
\nKoy Vantaan Punakiventie
\nFinland
\nSubsidiary
\n2675834\u20106
\n100
\nKoy Vantaan Tuovintie
\nFinland
\nSubsidiary
\n2711240\u20108
\n100
\nKoy Vantaan Vuohirinne
\nFinland
\nSubsidiary
\n2691248\u20109
\n100
\nKoy Vihdin Hiidenrannantie Finland Subsidiary 2616455\u20106 100
\nKoy Vihdin Vanhan sep\u00e4ntie
\nFinland
\nSubsidiary
\n2625959\u20108
\n100
\nKoy Ylivieskan Mikontie 1
\nFinland
\nSubsidiary
\n2850860\u20107
\n100
\nKoy Ylivieskan Ratakatu 12
\nFinland
\nSubsidiary
\n2850859\u20104
\n100
\nKoy Yl\u00f6j\u00e4rven Ty\u00f6v\u00e4entalontie
\nFinland
\nSubsidiary
\n2690219\u20102
\n100
\nMajakka Kiinteist\u00f6t Oy
\nFinland
\nSubsidiary
\n2760856-9
\n100
\n
\n\n\n
\n\n\n
\n\n\n
\n\n\n
\n\n
\n\n
\n\nNAME Country Category Register of
\ncorporations
\nCapital held
\n(in %)
\nHoivatilat AB
\nSweden \u2079
\nSubsidiary
\n559169-2461
\n100
\nHoivatilat Holding AB
\nSweden
\nSubsidiary
\n559192-8311
\n100
\nHoivatilat Holding 2 AB Sweden Subsidiary 559204-7426 100
\nHoivatilat Holding 3 AB
\nSweden
\nSubsidiary
\n559296-1519
\n100
\nHoivatilat Holding 4 AB
\nSweden
\nSubsidiary
\n559301-4979
\n100
\nHoivatilat Holding 5 AB
\nSweden
\nSubsidiary
\n559318-8286
\n100
\n\u00c4lmhult Kunskapsgatan AB
\nSweden
\nSubsidiary
\n559149-1732
\n100
\nEnk\u00f6ping H\u00e4sslinge LSS boende AB
\nSweden
\nSubsidiary
\n559152-2247
\n100
\nFanna 24:19 AB
\nSweden
\nSubsidiary
\n559252-4788
\n100
\nF\u00f6rskola Kalleberga AB
\nSweden
\nSubsidiary
\n559204-7392
\n100
\nF\u00f6rskola Mesta 6:56 AB Sweden Subsidiary 559195-0570 100
\nGr\u00e5munkeh\u00f6ga LSS boende AB
\nSweden
\nSubsidiary
\n559131-8877
\n100
\nHeby LSS boende AB
\nSweden
\nSubsidiary
\n559073-5634
\n100
\nHoivatilat Projekt 1 AB
\nSweden
\nSubsidiary
\n559376-5968
\n100
\nHuddinge Svartviksv\u00e4gen F\u00f6rskola AB
\nSweden
\nSubsidiary
\n559283-2595
\n100
\nLaholm Nyby LSS boende AB
\nSweden
\nSubsidiary
\n559149-6335
\n100
\nLiding\u00f6 Islinge F\u00f6rskola AB
\nSweden
\nSubsidiary
\n559376-5935
\n100
\nNorrt\u00e4lje \u00d6sthamra F\u00f6rskola AB
\nSweden
\nSubsidiary
\n559180-2078
\n100
\nNyk\u00f6ping Anderb\u00e4ck LSS boende AB Sweden Subsidiary 559150-0979 100
\nNyk\u00f6ping Bergshammar LSS boende AB
\nSweden
\nSubsidiary
\n559205-6872
\n100
\nNyn\u00e4shamn Skola Sittesta AB
\nSweden
\nSubsidiary
\n559087-5604
\n100
\n\u00d6rebro Hovsta Gryt LSS boende AB
\nSweden
\nSubsidiary
\n559152-7147
\n100
\n\u00d6rebro T\u00f6rsj\u00f6 LSS boende AB
\nSweden
\nSubsidiary
\n559163-1931
\n100
\nOskarshamn Emmekalv LSS boende AB
\nSweden
\nSubsidiary
\n559163-3788
\n100
\n\u00d6ster\u00e5ker Sing\u00f6 LSS boende AB
\nSweden
\nSubsidiary
\n559196-9786
\n100
\nStaffanstorp Borgg\u00e5rd 1:553 AB
\nSweden
\nSubsidiary
\n559346-7144
\n100
\nStr\u00e4ngn\u00e4s Biv\u00e4gen AB Sweden Subsidiary 559232-8685 100
\nTierp LSS boende AB
\nSweden
\nSubsidiary
\n559218-2876
\n100
\nUpplands V\u00e4sby Havregatan F\u00f6rskola AB
\nSweden
\nSubsidiary
\n559234-9079
\n100
\nUppsala Almungeberg 1 LSS boende AB
\nSweden
\nSubsidiary
\n559131-1468
\n100
\nUppsala Almungeberg 2 LSS boende AB
\nSweden
\nSubsidiary
\n559150-0938
\n100
\nUppsala B\u00e4linge L\u00f6vsta1 LSS boende AB
\nSweden
\nSubsidiary
\n556908-5391
\n100
\nUppsala B\u00e4linge L\u00f6vsta2 LSS boende AB
\nSweden
\nSubsidiary
\n556864-9460
\n100
\nUppsala Norby LSS boende AB
\nSweden
\nSubsidiary
\n559376-5976
\n100
\nUppsala Sunnersta LSS boende AB
\nSweden
\nSubsidiary
\n556900-2024
\n100
\nVallentuna V\u00e4stlunda LSS boende AB Sweden Subsidiary 559152-7139 100
\nV\u00e4xj\u00f6 LSS boende AB
\nSweden
\nSubsidiary
\n559190-6267
\n100
\nAedifica Ireland Ltd
\nIreland \u00b9\u2070
\nSubsidiary
\n683400
\n100
\nEdge Fusion Ltd
\nIreland
\nSubsidiary
\n614415
\n100
\nEnthree Ltd
\nIreland
\nSubsidiary
\n683028
\n100
\nJKP Nursing Home Ltd
\nIreland
\nSubsidiary
\n483964
\n100
\nMillennial Generation Ltd
\nIreland
\nSubsidiary
\n607665
\n100
\nPrudent Capital Ltd
\nIreland
\nSubsidiary
\n562309
\n100
\nSolcrea Ltd Ireland Subsidiary 614470 100
\nAED RE Espana 1 SLU
\nSpain \u00b9\u00b9
\nSubsidiary
\nB16839649
\n100
\nAED RE Espana 2 SLU
\nSpain
\nSubsidiary
\nB91643411
\n100
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n1. With the exception of Immobe NV (located at Avenue Louise 331 in 1050 Brussels (Belgium)), all Belgian companies
\nare located at Rue Belliard 40 box 11 in 1040 Brussels (Belgium).
\n2. All German companies are located at Gervinusstra\u00dfe 15-17 in 60322 Frankfurt am Main (Germany).
\n3. All Luxembourg companies are located at rue Guillaume J. Kroll 12 C in 1882 Luxembourg (Luxembourg).
\n4. All Dutch companies are located at Amstelplein 54, 1096 BC Amsterdam (Netherlands).
\n5. All Jersey companies are located at 47 Esplanade in St. Helier JE1 0BD (Jersey).
\n6. All UK companies are located at 13 Hanover Square, London, England, W1S 1HN (United Kingdom).
\n7. All UK JO companies are located Westcourt, Gelderd Road, Leeds, England, LS12 6DB (United Kingdom).
\n8. All Finnish companies are located at Kasarmintie 21, 90130 Oulu (Finland).
\n9. All Swedish companies are located at Sv\u00e4rdv\u00e4gen 21, 18233 Danderyd (Sweden).
\n10. All Irish companies are located at 29 Earlsfort Terrace, Dublin 2, Ireland D02 AY28 (Ireland).
\n11. All Spanish companies are located at Travessera de Gr\u00e0cia 11, 5\u00aa pl., 08021 Barcelona (Spain).
\n12. The residual 75% is held by an investor that is unrelated to Aedifica.
\n13. The residual 6% is held by an investor that is unrelated to Aedifica.
\n14. The residual 50% is held by a partner that is unrelated to Aedifica.
\n15. The residual 25% is held by a partner that is unrelated to Aedifica.
\n
\n\n\n
\n\n\n
\n\n\n
\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfInterestsInOtherEntitiesExplanatory",
"language": "en",
"entity": "scheme:529900DTKNXL0AXQFN28",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag703": {
"value": "\n
\n\n
\n\nNote 40: List of subsidiaries, associates and joint ventures
\nThe table below presents a full list of the companies covered by Articles 3:104 and 3:156 of the Royal Decree
\nof 29 April 2019 pertaining to the execution of the Belgian Companies and Associations Code.
\nAs from the 2021 financial year, the Dutch subsidiaries of Aedifica NV will make use of the exemption provided
\nfor in Article 2:403 of the Dutch Civil Code. Consequently, the Dutch companies are exempted from filing
\nindividual financial statements with the trade register in the Netherlands
\n
\nNAME
\nCountry
\nCategory
\nRegister of
\ncorporations
\nCapital held
\n(in %)
\nAedifica Invest NV
\nBelgium \u00b9
\nSubsidiary
\n0879.109.317
\n100
\nImmobe NV
\nBelgium
\nAssociate
\n0697.566.095
\n25 \u00b9\u00b2
\nAED GVBF 1 NV
\nBelgium
\nSubsidiary
\n1003.556.060
\n100
\nAED GVBF 2 NV
\nBelgium
\nSubsidiary
\n1003.556.654
\n100
\nAED GVBF 3 NV
\nBelgium
\nSubsidiary
\n1003.557.347
\n100
\nAED GVBF 4 NV
\nBelgium
\nSubsidiary
\n1003.557.644
\n100
\nAED GVBF 5 NV Belgium Subsidiary 1003.552.201 100
\nAED GVBF 6 NV
\nBelgium
\nSubsidiary
\n1003.553.090
\n100
\nAED GVBF 7 NV
\nBelgium
\nSubsidiary
\n1003.553.684
\n100
\nAED GVBF 8 NV
\nBelgium
\nSubsidiary
\n1003.554.377
\n100
\nAED GVBF 9 NV
\nBelgium
\nSubsidiary
\n1003.554.674
\n100
\nAED GVBF 10 NV
\nBelgium
\nSubsidiary
\n1003.554.971
\n100
\nAED GVBF 11 NV
\nBelgium
\nSubsidiary
\n1003.555.169
\n100
\nAedifica Residenzen 1 GmbH&Co. KG
\nGermany \u00b2
\nSubsidiary
\nHRB112641
\n94 \u00b9\u00b3
\nAedifica Residenzen 2 GmbH&Co. KG
\nGermany
\nSubsidiary
\nHRB115795
\n94 \u00b9\u00b3
\nAedifica Residenzen 3 GmbH Germany Subsidiary HRB118227 94 \u00b9\u00b3
\nAedifica Residenzen 4 GmbH
\nGermany
\nSubsidiary
\nHRB121918
\n94 \u00b9\u00b3
\nAedifica Residenzen 5 GmbH
\nGermany
\nSubsidiary
\nHRB36193
\n94 \u00b9\u00b3
\nAedifica Residenzen 6 GmbH
\nGermany
\nSubsidiary
\nHRB33909
\n94 \u00b9\u00b3
\nAedifica Residenzen Nord GmbH&Co. KG
\nGermany
\nSubsidiary
\nHRB110850
\n94 \u00b9\u00b3
\nAedifica Residenzen West GmbH
\nGermany
\nSubsidiary
\nHRB117957
\n94 \u00b9\u00b3
\nAedifica Verwaltungs GmbH
\nGermany
\nSubsidiary
\nHRB111389
\n100
\nAedifica Asset Management GmbH
\nGermany
\nSubsidiary
\nHRB100562
\n100
\nAedifica Luxemburg I SCS Luxembourg \u00b3 Subsidiary B128048 94 \u00b9\u00b3
\nAedifica Luxemburg II SCS
\nLuxembourg
\nSubsidiary
\nB139725
\n94 \u00b9\u00b3
\nAedifica Luxemburg III SCS
\nLuxembourg
\nSubsidiary
\nB143704
\n94 \u00b9\u00b3
\nAedifica Luxemburg IV SCS
\nLuxembourg
\nSubsidiary
\nB117441
\n94 \u00b9\u00b3
\nAedifica Luxemburg V SCS
\nLuxembourg
\nSubsidiary
\nB117445
\n94 \u00b9\u00b3
\nAedifica Luxemburg VI SCS
\nLuxembourg
\nSubsidiary
\nB132154
\n94 \u00b9\u00b3
\nAedifica Luxemburg VII SCS
\nLuxembourg
\nSubsidiary
\nB117438
\n94 \u00b9\u00b3
\nAedifica Luxemburg VIII SCS
\nLuxembourg
\nSubsidiary
\nB117437
\n94 \u00b9\u00b3
\nAedifica Nederland BV Netherlands \u2074 Subsidiary 65422082 100
\nAedifica Nederland 2 BV
\nNetherlands
\nSubsidiary
\n75102099
\n100
\nAedifica Nederland Services BV
\nNetherlands
\nSubsidiary
\n75667800
\n100
\nAedifica Nederland 3 BV
\nNetherlands
\nSubsidiary
\n77636309
\n100
\nAedifica Nederland 4 BV
\nNetherlands
\nSubsidiary
\n81056664
\n100
\nAedifica Nederland Joint Venture BV
\nNetherlands
\nSubsidiary
\n80885551
\n100
\nAK JV NL public partnership
\nNetherlands
\nJoint-venture
\n81197470
\n50 \u00b9\u2074
\nAedifica Sonneborgh Real Estate BV
\nNetherlands
\nSubsidiary
\n84354267
\n75 \u00b9\u2075
\nAedifica Sonneborgh Ontwikkeling BV Netherlands Associate 64278859 50 \u00b9\u2074
\nNAME Country Category Register of
\ncorporations
\nCapital held
\n(in %)
\nCHAPP Holdings Ltd
\nJersey\u2075
\nSubsidiary
\n109055
\n100
\nPatient Properties (Beech Court) Ltd
\nJersey
\nSubsidiary
\n123678
\n100
\nPatient Properties (Springfields) Ltd Jersey Subsidiary 123687 100
\nPatient Properties (Eltandia) Ltd
\nJersey
\nSubsidiary
\n123682
\n100
\nPatient Properties (Windmill) Ltd
\nJersey
\nSubsidiary
\n123699
\n100
\nPatient Properties (Brook House) Ltd
\nJersey
\nSubsidiary
\n123680
\n100
\nLV Holdings Ltd
\nJersey
\nSubsidiary
\n103669
\n100
\nLV Charrieres Ltd
\nJersey
\nSubsidiary
\n133548
\n100
\nLV St. Josephs Ltd
\nJersey
\nSubsidiary
\n129910
\n100
\nAedifica UK Ltd
\nUK \u2076
\nSubsidiary
\n12351073
\n100
\nAedifica Finance 1 Ltd UK Subsidiary 12352308 100
\nAedifica Finance 2 Ltd
\nUK
\nSubsidiary
\n12352800
\n100
\nMaple Court Nursing Home Ltd
\nUK
\nSubsidiary
\n07295828
\n100
\nQuercus Homes 2018 Ltd
\nUK
\nSubsidiary
\n11278772
\n100
\nSapphire Properties (2016) Ltd
\nUK
\nSubsidiary
\n09461514
\n100
\nAedifica UK (Ampthill) Ltd
\nUK
\nSubsidiary
\n11159774
\n100
\nAedifica UK (Hailsham) Ltd
\nUK
\nSubsidiary
\n11159930
\n100
\nMarches Care Holdings Ltd
\nUK
\nSubsidiary
\n7097091
\n100
\nPriesty Fields Developments Ltd UK Subsidiary 10806474 100
\nAedifica Management Ltd
\nUK
\nSubsidiary
\n4797971
\n100
\nAedifica UK (Marston) Ltd
\nUK
\nSubsidiary
\n13816311
\n100
\nAedifica UK (Hessle) Ltd
\nUK
\nSubsidiary
\n10674329
\n100
\nAedifica UK (Lincoln) Ltd
\nUK
\nSubsidiary
\n13449716
\n100
\nMMCG 2 DEVCO 2 Ltd
\nUK (JO) \u2077
\nAssociate
\n13483857
\n25+1 \u00b9\u00b2
\nMMCG 2 DEVCO 3 Ltd
\nUK (JO)
\nAssociate
\n13483907
\n25+1 \u00b9\u00b2
\nAureit Holding Oy
\nFinland \u2078
\nSubsidiary
\n3092783-5
\n100
\nHoivatilat Oyj Finland Subsidiary 2241238-0 100
\nAs Oy Sein\u00e4joen Saga
\nFinland
\nSubsidiary
\n2779544-8
\n100
\nKoy \u00c4\u00e4nekosken \u00c4\u00e4neniementie 22
\nFinland
\nSubsidiary
\n3264862-9
\n100
\nKoy \u00c4\u00e4nekosken Likolahdenkatu
\nFinland
\nSubsidiary
\n2875205-2
\n100
\nKoy Espoon Fall\u00e5kerinrinne
\nFinland
\nSubsidiary
\n2620688-3
\n100
\nKoy Espoon Hirvisuontie
\nFinland
\nSubsidiary
\n2755334-2
\n100
\nKoy Espoon Kurttilantie
\nFinland
\nSubsidiary
\n3134900-2
\n100
\nKoy Espoon Kuurinkallio
\nFinland
\nSubsidiary
\n3201659-2
\n100
\nKoy Espoon Matinkartanontie
\nFinland
\nSubsidiary
\n3117665-8
\n100
\nKoy Espoon Meriviitantie Finland Subsidiary 2720369\u20102 100
\nKoy Espoon Oppilaantie
\nFinland
\nSubsidiary
\n2787263\u20104
\n100
\nKoy Espoon Palstalaisentie 4
\nFinland
\nSubsidiary
\n3309285-3
\n100
\nKoy Espoon Rajam\u00e4nnynahde
\nFinland
\nSubsidiary
\n3194972-9
\n100
\nKoy Espoon Tikasm\u00e4entie
\nFinland
\nSubsidiary
\n2669018-5
\n100
\nKoy Espoon Vuoripirtintie
\nFinland
\nSubsidiary
\n2748087-6
\n100
\nKoy Euran K\u00e4r\u00e4j\u00e4m\u00e4entie
\nFinland
\nSubsidiary
\n2842931\u20109
\n100
\nKoy Hakalahden Majakka
\nFinland
\nSubsidiary
\n2668724-2
\n100
\nKoy H\u00e4meenlinna Kampuskaarre Finland Subsidiary 3175924-7 100
\nKoy H\u00e4meenlinnan Jukolanraitti
\nFinland
\nSubsidiary
\n2826099\u20108
\n100
\nKoy H\u00e4meenlinnan Ruununmyllyntie
\nFinland
\nSubsidiary
\n3267462-4
\n100
\nKoy H\u00e4meenlinnan Vanha Alikartanontie
\nFinland
\nSubsidiary
\n2669024\u20109
\n100
\nKoy Haminan Lepik\u00f6nranta
\nFinland
\nSubsidiary
\n2988685\u20103
\n100
\nKoy Heinolan L\u00e4hteentie
\nFinland
\nSubsidiary
\n2752188\u20105
\n100
\n
\n\n\n
\n\n\n
\n\n\n
\n\n
\n\nNAME Country Category Register of
\ncorporations
\nCapital held
\n(in %)
\nKoy Helsingin Ensikodin tie 4
\nFinland
\nSubsidiary
\n3220641-7
\n100
\nKoy Helsingin Kansantie
\nFinland
\nSubsidiary
\n3214270-8
\n100
\nKoy Helsingin K\u00e4r\u00e4j\u00e4tuvantie Finland Subsidiary 3287010-7 100
\nKoy Helsingin Kr\u00e4mertintie
\nFinland
\nSubsidiary
\n3323987-8
\n100
\nKoy Helsingin Kutomokuja
\nFinland
\nSubsidiary
\n3287009-4
\n100
\nKoy Helsingin L\u00e4hdepolku
\nFinland
\nSubsidiary
\n3279404-4
\n100
\nKoy Helsingin Landbontie
\nFinland
\nSubsidiary
\n3270229-3
\n100
\nKoy Helsingin Pakarituvantie
\nFinland
\nSubsidiary
\n3131782-8
\n100
\nKoy Helsingin Radiokatu
\nFinland
\nSubsidiary
\n3270230-6
\n100
\nKoy Helsingin Ty\u00f6njohtajankadun Sepp\u00e43
\nFinland
\nSubsidiary
\n3009977-7
\n100
\nKoy Hollolan Kulmalantie 2 Finland Subsidiary 3354537-3 100
\nKoy Hollolan Sarkatie
\nFinland
\nSubsidiary
\n2749865\u20104
\n100
\nKoy Iisalmen Etel\u00e4inen Puistoraitti
\nFinland
\nSubsidiary
\n2840090\u20103
\n100
\nKoy Iisalmen Kangaslammintie
\nFinland
\nSubsidiary
\n2826102\u20106
\n100
\nKoy Iisalmen Petter Kumpulaisentie
\nFinland
\nSubsidiary
\n2882785\u20101
\n100
\nKoy Iisalmen Satamakatu
\nFinland
\nSubsidiary
\n3005776-1
\n100
\nKoy Iisalmen Vemmelkuja
\nFinland
\nSubsidiary
\n2917923\u20105
\n100
\nKoy Janakkalan Kekanahontie
\nFinland
\nSubsidiary
\n2911674\u20104
\n100
\nKoy J\u00e4rvenp\u00e4\u00e4n Auertie Finland Subsidiary 3279405-2 100
\nKoy J\u00e4rvenp\u00e4\u00e4n Yliopettajankatu
\nFinland
\nSubsidiary
\n2774063-1
\n100
\nKoy Jyv\u00e4skyl\u00e4n Ailakinkatu
\nFinland
\nSubsidiary
\n2932895\u20108
\n100
\nKoy Jyv\u00e4skyl\u00e4n Haperontie
\nFinland
\nSubsidiary
\n2763296\u20104
\n100
\nKoy Jyv\u00e4skyl\u00e4n Harjutie
\nFinland
\nSubsidiary
\n3172893-4
\n100
\nKoy Jyv\u00e4skyl\u00e4n Haukankaari
\nFinland
\nSubsidiary
\n3174128-2
\n100
\nKoy Jyv\u00e4skyl\u00e4n Mannisenm\u00e4entie
\nFinland
\nSubsidiary
\n2816983\u20106
\n100
\nKoy Jyv\u00e4skyl\u00e4n Martikaisentie
\nFinland
\nSubsidiary
\n2575556-5
\n100
\nKoy Jyv\u00e4skyl\u00e4n Palstatie Finland Subsidiary 2923254\u20102 100
\nKoy Jyv\u00e4skyl\u00e4n Sulkulantie
\nFinland
\nSubsidiary
\n2850306-4
\n100
\nKoy Jyv\u00e4skyl\u00e4n V\u00e4liharjuntie
\nFinland
\nSubsidiary
\n2639227\u20106
\n100
\nKoy Jyv\u00e4skyl\u00e4n V\u00e4vypojanpolku
\nFinland
\nSubsidiary
\n2960547\u20106
\n100
\nKoy Kaarinan Nurminiitynkatu
\nFinland
\nSubsidiary
\n2838030\u20108
\n100
\nKoy Kajaanin Er\u00e4tie
\nFinland
\nSubsidiary
\n2749663\u20102
\n100
\nKoy Kajaanin Hoikankatu
\nFinland
\nSubsidiary
\n2951667\u20106
\n100
\nKoy Kajaanin Mennink\u00e4isentie
\nFinland
\nSubsidiary
\n2681416\u20108
\n100
\nKoy Kajaanin Uitontie
\nFinland
\nSubsidiary
\n3164208-1
\n100
\nKoy Kangasalan Hilmanhovi Finland Subsidiary 2262908\u20108 100
\nKoy Kangasalan M\u00e4ntyver\u00e4j\u00e4ntie
\nFinland
\nSubsidiary
\n2688361\u20104
\n100
\nKoy Kangasalan Reki\u00e4l\u00e4ntie
\nFinland
\nSubsidiary
\n2940754-1
\n100
\nKoy Kaskisten Bladintie
\nFinland
\nSubsidiary
\n2224949-9
\n100
\nKoy Kempeleen Ihmemaantie
\nFinland
\nSubsidiary
\n3112115-5
\n100
\nKoy Keravan Lehmuskatu
\nFinland
\nSubsidiary
\n3256470-8
\n100
\nKoy Keravan M\u00e4nnik\u00f6ntie
\nFinland
\nSubsidiary
\n2774061\u20105
\n100
\nKoy Keravan Pianosoittajankatu
\nFinland
\nSubsidiary
\n3368773-4
\n100
\nKoy Keuruun Tehtaantie Finland Subsidiary 2877302\u20101 100
\nKoy Kirkkonummen Kotitontunkuja
\nFinland
\nSubsidiary
\n2692080\u20109
\n100
\nKoy Kokkola Kruunupyyntie
\nFinland
\nSubsidiary
\n3349210-1
\n100
\nKoy Kokkolan Ankkurikuja
\nFinland
\nSubsidiary
\n2955766\u20102
\n100
\nKoy Kokkolan Kaarlelankatu 68
\nFinland
\nSubsidiary
\n2668743-7
\n100
\nKoy Kokkolan Vanha Ouluntie
\nFinland
\nSubsidiary
\n2771913\u20108
\n100
\nNAME Country Category Register of
\ncorporations
\nCapital held
\n(in %)
\nKoy Kotkan Mets\u00e4kulmankatu 21
\nFinland
\nSubsidiary
\n2225111-8
\n100
\nKoy Kotkan S\u00e4rm\u00e4\u00e4j\u00e4nkatu 6
\nFinland
\nSubsidiary
\n3169793-9
\n100
\nKoy Kouvolan Kaartokuja Finland Subsidiary 2697590\u20106 100
\nKoy Kouvolan Rannikkotie
\nFinland
\nSubsidiary
\n2941695-8
\n100
\nKoy Kouvolan Ruskeasuonkatu
\nFinland
\nSubsidiary
\n2955751-5
\n100
\nKoy Kouvolan Vainiolankuja
\nFinland
\nSubsidiary
\n3134903-7
\n100
\nKoy Kouvolan Vinttikaivontie
\nFinland
\nSubsidiary
\n2543325\u20109
\n100
\nKoy Kuopion Amerikanraitti 10
\nFinland
\nSubsidiary
\n2837113\u20107
\n100
\nKoy Kuopion M\u00e4nnist\u00f6nkatu
\nFinland
\nSubsidiary
\n3127190-3
\n100
\nKoy Kuopion Opistokuja 3
\nFinland
\nSubsidiary
\n3176660-7
\n100
\nKoy Kuopion Pirtinkaari Finland Subsidiary 2873993-1 100
\nKoy Kuopion Portti A2
\nFinland
\nSubsidiary
\n2874104-6
\n100
\nKoy Kuopion Rantaraitti
\nFinland
\nSubsidiary
\n2770280\u20103
\n100
\nKoy Kuopion Sipulikatu
\nFinland
\nSubsidiary
\n2509836\u20106
\n100
\nKoy Kuopion Torpankatu
\nFinland
\nSubsidiary
\n3338477-6
\n100
\nKoy Lahden Jahtikatu
\nFinland
\nSubsidiary
\n2861249\u20108
\n100
\nKoy Lahden Kurenniityntie
\nFinland
\nSubsidiary
\n3008794-4
\n100
\nKoy Lahden Makarantie
\nFinland
\nSubsidiary
\n2988683-7
\n100
\nKoy Lahden Piisamikatu Finland Subsidiary 2861251\u20109 100
\nKoy Lahden Vallesmanninkatu A
\nFinland
\nSubsidiary
\n2675831\u20101
\n100
\nKoy Lahden Vallesmanninkatu B
\nFinland
\nSubsidiary
\n2675827\u20104
\n100
\nKoy Laihian Jarrumiehentie
\nFinland
\nSubsidiary
\n2798400\u20103
\n100
\nKoy Lappeenrannan Orioninkatu
\nFinland
\nSubsidiary
\n2877591\u20106
\n100
\nKoy Laukaan Hyt\u00f6senkuja
\nFinland
\nSubsidiary
\n2681456\u20103
\n100
\nKoy Laukaan Peurungantie
\nFinland
\nSubsidiary
\n2821700-9
\n100
\nKoy Laukaan Saratie
\nFinland
\nSubsidiary
\n2896187\u20104
\n100
\nKoy Lemp\u00e4\u00e4l\u00e4n Tampereentie Finland Subsidiary 3266246-3 100
\nKoy Limingan Kauppakaari
\nFinland
\nSubsidiary
\n2553773\u20106
\n100
\nKoy Limingan Saunarannantie
\nFinland
\nSubsidiary
\n3267223-1
\n100
\nKoy Lohjan Ansatie
\nFinland
\nSubsidiary
\n2768296\u20101
\n100
\nKoy Lohjan Porapojankuja
\nFinland
\nSubsidiary
\n3130512-2
\n100
\nKoy Lohjan Sahapiha
\nFinland
\nSubsidiary
\n3132701-4
\n100
\nKoy Loimaan Itsen\u00e4isyydenkatu
\nFinland
\nSubsidiary
\n2887703-1
\n100
\nKoy Loviisan Mannerheiminkatu
\nFinland
\nSubsidiary
\n2648698\u20105
\n100
\nKoy M\u00e4nts\u00e4l\u00e4n Liedontie
\nFinland
\nSubsidiary
\n2505670\u20105
\n100
\nKoy M\u00e4ntyharjun L\u00e4\u00e4k\u00e4rinkuja Finland Subsidiary 2761813\u20104 100
\nKoy Maskun Ruskontie
\nFinland
\nSubsidiary
\n2610017\u20103
\n100
\nKoy Mikkelin Kastanjakuja
\nFinland
\nSubsidiary
\n2915481-2
\n100
\nKoy Mikkelin Sahalantie
\nFinland
\nSubsidiary
\n3004499-5
\n100
\nKoy Mikkelin V\u00e4\u00e4n\u00e4senpolku
\nFinland
\nSubsidiary
\n2864738\u20103
\n100
\nKoy Mikkelin Yl\u00e4nnetie 8
\nFinland
\nSubsidiary
\n2839320\u20105
\n100
\nKoy Myn\u00e4m\u00e4en Opintie
\nFinland
\nSubsidiary
\n2957425\u20101
\n100
\nKoy Nokian Kivimiehenkatu 4
\nFinland
\nSubsidiary
\n1056103-9
\n100
\nKoy Nokian Luhtatie Finland Subsidiary 2882228-4 100
\nKoy Nokian N\u00e4si\u00e4katu
\nFinland
\nSubsidiary
\n2772561\u20108
\n100
\nKoy Nokian T\u00e4htisumunkatu
\nFinland
\nSubsidiary
\n3328037-9
\n100
\nKoy Nokian Vikkulankatu
\nFinland
\nSubsidiary
\n2720339\u20103
\n100
\nKoy Nurmij\u00e4rven Laidunalue
\nFinland
\nSubsidiary
\n2415548\u20108
\n100
\nKoy Nurmij\u00e4rven Luhtavillantie
\nFinland
\nSubsidiary
\n3202629-9
\n100
\n
\n\n\n
\n\n\n
\n\n\n
\n\n
\n\nNAME Country Category Register of
\ncorporations
\nCapital held
\n(in %)
\nKoy Nurmij\u00e4rven Ratakuja
\nFinland
\nSubsidiary
\n2807462\u20106
\n100
\nKoy Orimattilan Suppulanpolku
\nFinland
\nSubsidiary
\n2750819\u20107
\n100
\nKoy Oulun Isopurjeentie 3 Finland Subsidiary 2255743-2 100
\nKoy Oulun Jahtivoudintie
\nFinland
\nSubsidiary
\n2759228-8
\n100
\nKoy Oulun Juhlamarssi
\nFinland
\nSubsidiary
\n3217953-5
\n100
\nKoy Oulun M\u00e4ntypellonpolku
\nFinland
\nSubsidiary
\n3182688-4
\n100
\nKoy Oulun Raamipolku
\nFinland
\nSubsidiary
\n2798361-7
\n100
\nKoy Oulun Ruismets\u00e4
\nFinland
\nSubsidiary
\n3008792-8
\n100
\nKoy Oulun Salonp\u00e4\u00e4n koulu
\nFinland
\nSubsidiary
\n3100847-8
\n100
\nKoy Oulun Sarvisuontie
\nFinland
\nSubsidiary
\n2899591\u20109
\n100
\nKoy Oulun Siilotie Finland Subsidiary 3006511-2 100
\nKoy Oulun Siilotie K21 A
\nFinland
\nSubsidiary
\n3311639-2
\n100
\nKoy Oulun Siilotie K21 B
\nFinland
\nSubsidiary
\n3311641-3
\n100
\nKoy Oulun Siilotie K21 C
\nFinland
\nSubsidiary
\n3311642-1
\n100
\nKoy Oulun Soittajanlenkki
\nFinland
\nSubsidiary
\n2920514-9
\n100
\nKoy Oulun Tahtimarssi
\nFinland
\nSubsidiary
\n3331416-1
\n100
\nKoy Oulun Ukkoherrantie A
\nFinland
\nSubsidiary
\n3141465-2
\n100
\nKoy Oulun Ukkoherrantie B
\nFinland
\nSubsidiary
\n2781801\u20103
\n100
\nKoy Oulun Upseerinkatu Finland Subsidiary 3302679-2 100
\nKoy Oulun Vaaranpiha
\nFinland
\nSubsidiary
\n3146139-5
\n100
\nKoy Oulun Valjastie
\nFinland
\nSubsidiary
\n3139840-2
\n100
\nKoy Oulun Villa Sulka
\nFinland
\nSubsidiary
\n2695880-7
\n100
\nKoy Oulun Vihannestie
\nFinland
\nSubsidiary
\n3127183-1
\n100
\nKoy Paimion M\u00e4kil\u00e4ntie
\nFinland
\nSubsidiary
\n2853714\u20101
\n100
\nKoy Pateniemenranta
\nFinland
\nSubsidiary
\n2930852-7
\n100
\nKoy Pieks\u00e4m\u00e4en Ruustinnantie
\nFinland
\nSubsidiary
\n2903250-8
\n100
\nKoy Pihtiputaan Nurmelanpolku Finland Subsidiary 2860057\u20107 100
\nKoy Pirkkalan Lehtim\u00e4entie
\nFinland
\nSubsidiary
\n2593596\u20101
\n100
\nKoy Pirkkalan Perensaarentie
\nFinland
\nSubsidiary
\n2808085\u20108
\n100
\nKoy Porin Kerhotie 1
\nFinland
\nSubsidiary
\n3145625-4
\n100
\nKoy Porin Koekatu
\nFinland
\nSubsidiary
\n2835076\u20106
\n100
\nKoy Porin Ojantie
\nFinland
\nSubsidiary
\n2625961\u20109
\n100
\nKoy Porvoon Fredrika Runebergin katu
\nFinland
\nSubsidiary
\n2760328\u20102
\n100
\nKoy Porvoon Haarap\u00e4\u00e4skyntie
\nFinland
\nSubsidiary
\n2951666\u20108
\n100
\nKoy Porvoon Peippolankuja
\nFinland
\nSubsidiary
\n2588814\u20109
\n100
\nKoy Porvoon Vanha Kuninkaantie Finland Subsidiary 2746305\u20106 100
\nKoy Raahen Kirkkokatu
\nFinland
\nSubsidiary
\n3143874-2
\n100
\nKoy Raahen Palokunnanhovi
\nFinland
\nSubsidiary
\n2326426\u20100
\n100
\nKoy Raahen Vihastenkarinkatu
\nFinland
\nSubsidiary
\n2917887-3
\n100
\nKoy Raision Tenavakatu
\nFinland
\nSubsidiary
\n2553772\u20108
\n100
\nKoy Riihim\u00e4en Jyr\u00e4tie
\nFinland
\nSubsidiary
\n2956737-7
\n100
\nKoy Rovaniemen Gardininkuja
\nFinland
\nSubsidiary
\n3100848-6
\n100
\nKoy Rovaniemen Koulukaari
\nFinland
\nSubsidiary
\n3239963-4
\n100
\nKoy Rovaniemen M\u00e4kiranta Finland Subsidiary 2994385-4 100
\nKoy Rovaniemen Matkavaarantie
\nFinland
\nSubsidiary
\n2838821\u20101
\n100
\nKoy Rovaniemen Muonakuja
\nFinland
\nSubsidiary
\n3110312-5
\n100
\nKoy Rovaniemen Rakkakiventie
\nFinland
\nSubsidiary
\n2865638-6
\n100
\nKoy Rovaniemen Ritarinne
\nFinland
\nSubsidiary
\n2754616\u20109
\n100
\nKoy Rovaniemen Santam\u00e4entie
\nFinland
\nSubsidiary
\n3008789-9
\n100
\nNAME Country Category Register of
\ncorporations
\nCapital held
\n(in %)
\nKoy Ruskon P\u00e4\u00e4llist\u00f6nm\u00e4entie
\nFinland
\nSubsidiary
\n2789540\u20106
\n100
\nKoy Salon Linnankoskentie
\nFinland
\nSubsidiary
\n3330201-3
\n100
\nKoy Salon Papinkuja Finland Subsidiary 3155224-6 100
\nKoy Siilinj\u00e4rven Nilsi\u00e4ntie
\nFinland
\nSubsidiary
\n2934834\u20102
\n100
\nKoy Siilinj\u00e4rven Risulantie
\nFinland
\nSubsidiary
\n2854061\u20105
\n100
\nKoy Siilinj\u00e4rven Sinisiipi
\nFinland
\nSubsidiary
\n2479104\u20106
\n100
\nKoy Sipoon Aarrepuistonkuja
\nFinland
\nSubsidiary
\n2878144\u20103
\n100
\nKoy Sipoon Aarretie
\nFinland
\nSubsidiary
\n2870619\u20105
\n100
\nKoy Sotkamon H\u00e4rk\u00f6kivenkatu
\nFinland
\nSubsidiary
\n3314858-9
\n100
\nKoy Sotkamon Kirkkotie
\nFinland
\nSubsidiary
\n2917890\u20102
\n100
\nKoy Tampereen Haiharansuu Finland Subsidiary 3192647-1 100
\nKoy Tampereen Lent\u00e4v\u00e4nniemenkatu
\nFinland
\nSubsidiary
\n2648697\u20107
\n100
\nKoy Tampereen Sisunaukio
\nFinland
\nSubsidiary
\n2355346-8
\n100
\nKoy Tampereen Ter\u00e4skatu
\nFinland
\nSubsidiary
\n3284989-3
\n100
\nKoy Teuvan Tuokkolantie 14
\nFinland
\nSubsidiary
\n2225109-7
\n100
\nKoy Tornion Torpin Rinnakkaiskatu
\nFinland
\nSubsidiary
\n2816984\u20104
\n100
\nKoy Turun Lemmontie
\nFinland
\nSubsidiary
\n2551472-9
\n100
\nKoy Turun Lukkosep\u00e4nkatu
\nFinland
\nSubsidiary
\n2842686\u20103
\n100
\nKoy Turun Malin Tr\u00e4llinkuja Finland Subsidiary 3171440-1 100
\nKoy Turun Paltankatu
\nFinland
\nSubsidiary
\n2845199\u20107
\n100
\nKoy Turun Teollisuuskatu
\nFinland
\nSubsidiary
\n2729980\u20107
\n100
\nKoy Turun V\u00e4h\u00e4heikkil\u00e4ntie
\nFinland
\nSubsidiary
\n2660277\u20101
\n100
\nKoy Turun Vakiniituntie
\nFinland
\nSubsidiary
\n2648689\u20107
\n100
\nKoy Tuusulan Isokarhunkierto
\nFinland
\nSubsidiary
\n3005414-9
\n100
\nKoy Tuusulan Temmontie
\nFinland
\nSubsidiary
\n3325587-8
\n100
\nKoy Ulvilan Kulmalantie
\nFinland
\nSubsidiary
\n2966954-1
\n100
\nKoy Uudenkaupungin Merilinnuntie Finland Subsidiary 2878831\u20101 100
\nKoy Uudenkaupungin Merimetsopolku B
\nFinland
\nSubsidiary
\n2798800\u20104
\n100
\nKoy Uudenkaupungin Merimetsopolku C
\nFinland
\nSubsidiary
\n2797654\u20108
\n100
\nKoy Uudenkaupungin Puusep\u00e4nkatu
\nFinland
\nSubsidiary
\n2766340\u20102
\n100
\nKoy Vaasan M\u00e4kikaivontie 22
\nFinland
\nSubsidiary
\n1743075-2
\n100
\nKoy Vaasan Tehokatu 10
\nFinland
\nSubsidiary
\n2246849-9
\n100
\nKoy Vaasan Uusmets\u00e4ntie
\nFinland
\nSubsidiary
\n3000725-4
\n100
\nKoy Vaasan Vanhan Vaasankatu
\nFinland
\nSubsidiary
\n2882784\u20103
\n100
\nKoy Valkeakosken Juusontie
\nFinland
\nSubsidiary
\n3244769-1
\n100
\nKoy Vantaan Asolantie 14 Finland Subsidiary 2319120-9 100
\nKoy Vantaan Haravakuja
\nFinland
\nSubsidiary
\n3331473-5
\n100
\nKoy Vantaan Koetilankatu
\nFinland
\nSubsidiary
\n2656382\u20101
\n100
\nKoy Vantaan Koivukyl\u00e4n Puistotie
\nFinland
\nSubsidiary
\n2933844\u20103
\n100
\nKoy Vantaan Mesikukantie
\nFinland
\nSubsidiary
\n2755333\u20104
\n100
\nKoy Vantaan Punakiventie
\nFinland
\nSubsidiary
\n2675834\u20106
\n100
\nKoy Vantaan Tuovintie
\nFinland
\nSubsidiary
\n2711240\u20108
\n100
\nKoy Vantaan Vuohirinne
\nFinland
\nSubsidiary
\n2691248\u20109
\n100
\nKoy Vihdin Hiidenrannantie Finland Subsidiary 2616455\u20106 100
\nKoy Vihdin Vanhan sep\u00e4ntie
\nFinland
\nSubsidiary
\n2625959\u20108
\n100
\nKoy Ylivieskan Mikontie 1
\nFinland
\nSubsidiary
\n2850860\u20107
\n100
\nKoy Ylivieskan Ratakatu 12
\nFinland
\nSubsidiary
\n2850859\u20104
\n100
\nKoy Yl\u00f6j\u00e4rven Ty\u00f6v\u00e4entalontie
\nFinland
\nSubsidiary
\n2690219\u20102
\n100
\nMajakka Kiinteist\u00f6t Oy
\nFinland
\nSubsidiary
\n2760856-9
\n100
\n
\n\n\n
\n\n\n
\n\n\n
\n\n
\n\nNAME Country Category Register of
\ncorporations
\nCapital held
\n(in %)
\nHoivatilat AB
\nSweden \u2079
\nSubsidiary
\n559169-2461
\n100
\nHoivatilat Holding AB
\nSweden
\nSubsidiary
\n559192-8311
\n100
\nHoivatilat Holding 2 AB Sweden Subsidiary 559204-7426 100
\nHoivatilat Holding 3 AB
\nSweden
\nSubsidiary
\n559296-1519
\n100
\nHoivatilat Holding 4 AB
\nSweden
\nSubsidiary
\n559301-4979
\n100
\nHoivatilat Holding 5 AB
\nSweden
\nSubsidiary
\n559318-8286
\n100
\n\u00c4lmhult Kunskapsgatan AB
\nSweden
\nSubsidiary
\n559149-1732
\n100
\nEnk\u00f6ping H\u00e4sslinge LSS boende AB
\nSweden
\nSubsidiary
\n559152-2247
\n100
\nFanna 24:19 AB
\nSweden
\nSubsidiary
\n559252-4788
\n100
\nF\u00f6rskola Kalleberga AB
\nSweden
\nSubsidiary
\n559204-7392
\n100
\nF\u00f6rskola Mesta 6:56 AB Sweden Subsidiary 559195-0570 100
\nGr\u00e5munkeh\u00f6ga LSS boende AB
\nSweden
\nSubsidiary
\n559131-8877
\n100
\nHeby LSS boende AB
\nSweden
\nSubsidiary
\n559073-5634
\n100
\nHoivatilat Projekt 1 AB
\nSweden
\nSubsidiary
\n559376-5968
\n100
\nHuddinge Svartviksv\u00e4gen F\u00f6rskola AB
\nSweden
\nSubsidiary
\n559283-2595
\n100
\nLaholm Nyby LSS boende AB
\nSweden
\nSubsidiary
\n559149-6335
\n100
\nLiding\u00f6 Islinge F\u00f6rskola AB
\nSweden
\nSubsidiary
\n559376-5935
\n100
\nNorrt\u00e4lje \u00d6sthamra F\u00f6rskola AB
\nSweden
\nSubsidiary
\n559180-2078
\n100
\nNyk\u00f6ping Anderb\u00e4ck LSS boende AB Sweden Subsidiary 559150-0979 100
\nNyk\u00f6ping Bergshammar LSS boende AB
\nSweden
\nSubsidiary
\n559205-6872
\n100
\nNyn\u00e4shamn Skola Sittesta AB
\nSweden
\nSubsidiary
\n559087-5604
\n100
\n\u00d6rebro Hovsta Gryt LSS boende AB
\nSweden
\nSubsidiary
\n559152-7147
\n100
\n\u00d6rebro T\u00f6rsj\u00f6 LSS boende AB
\nSweden
\nSubsidiary
\n559163-1931
\n100
\nOskarshamn Emmekalv LSS boende AB
\nSweden
\nSubsidiary
\n559163-3788
\n100
\n\u00d6ster\u00e5ker Sing\u00f6 LSS boende AB
\nSweden
\nSubsidiary
\n559196-9786
\n100
\nStaffanstorp Borgg\u00e5rd 1:553 AB
\nSweden
\nSubsidiary
\n559346-7144
\n100
\nStr\u00e4ngn\u00e4s Biv\u00e4gen AB Sweden Subsidiary 559232-8685 100
\nTierp LSS boende AB
\nSweden
\nSubsidiary
\n559218-2876
\n100
\nUpplands V\u00e4sby Havregatan F\u00f6rskola AB
\nSweden
\nSubsidiary
\n559234-9079
\n100
\nUppsala Almungeberg 1 LSS boende AB
\nSweden
\nSubsidiary
\n559131-1468
\n100
\nUppsala Almungeberg 2 LSS boende AB
\nSweden
\nSubsidiary
\n559150-0938
\n100
\nUppsala B\u00e4linge L\u00f6vsta1 LSS boende AB
\nSweden
\nSubsidiary
\n556908-5391
\n100
\nUppsala B\u00e4linge L\u00f6vsta2 LSS boende AB
\nSweden
\nSubsidiary
\n556864-9460
\n100
\nUppsala Norby LSS boende AB
\nSweden
\nSubsidiary
\n559376-5976
\n100
\nUppsala Sunnersta LSS boende AB
\nSweden
\nSubsidiary
\n556900-2024
\n100
\nVallentuna V\u00e4stlunda LSS boende AB Sweden Subsidiary 559152-7139 100
\nV\u00e4xj\u00f6 LSS boende AB
\nSweden
\nSubsidiary
\n559190-6267
\n100
\nAedifica Ireland Ltd
\nIreland \u00b9\u2070
\nSubsidiary
\n683400
\n100
\nEdge Fusion Ltd
\nIreland
\nSubsidiary
\n614415
\n100
\nEnthree Ltd
\nIreland
\nSubsidiary
\n683028
\n100
\nJKP Nursing Home Ltd
\nIreland
\nSubsidiary
\n483964
\n100
\nMillennial Generation Ltd
\nIreland
\nSubsidiary
\n607665
\n100
\nPrudent Capital Ltd
\nIreland
\nSubsidiary
\n562309
\n100
\nSolcrea Ltd Ireland Subsidiary 614470 100
\nAED RE Espana 1 SLU
\nSpain \u00b9\u00b9
\nSubsidiary
\nB16839649
\n100
\nAED RE Espana 2 SLU
\nSpain
\nSubsidiary
\nB91643411
\n100
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n1. With the exception of Immobe NV (located at Avenue Louise 331 in 1050 Brussels (Belgium)), all Belgian companies
\nare located at Rue Belliard 40 box 11 in 1040 Brussels (Belgium).
\n2. All German companies are located at Gervinusstra\u00dfe 15-17 in 60322 Frankfurt am Main (Germany).
\n3. All Luxembourg companies are located at rue Guillaume J. Kroll 12 C in 1882 Luxembourg (Luxembourg).
\n4. All Dutch companies are located at Amstelplein 54, 1096 BC Amsterdam (Netherlands).
\n5. All Jersey companies are located at 47 Esplanade in St. Helier JE1 0BD (Jersey).
\n6. All UK companies are located at 13 Hanover Square, London, England, W1S 1HN (United Kingdom).
\n7. All UK JO companies are located Westcourt, Gelderd Road, Leeds, England, LS12 6DB (United Kingdom).
\n8. All Finnish companies are located at Kasarmintie 21, 90130 Oulu (Finland).
\n9. All Swedish companies are located at Sv\u00e4rdv\u00e4gen 21, 18233 Danderyd (Sweden).
\n10. All Irish companies are located at 29 Earlsfort Terrace, Dublin 2, Ireland D02 AY28 (Ireland).
\n11. All Spanish companies are located at Travessera de Gr\u00e0cia 11, 5\u00aa pl., 08021 Barcelona (Spain).
\n12. The residual 75% is held by an investor that is unrelated to Aedifica.
\n13. The residual 6% is held by an investor that is unrelated to Aedifica.
\n14. The residual 50% is held by a partner that is unrelated to Aedifica.
\n15. The residual 25% is held by a partner that is unrelated to Aedifica.
\n
\n\n\n
\n\n\n
\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfSignificantInvestmentsInSubsidiariesExplanatory",
"language": "en",
"entity": "scheme:529900DTKNXL0AXQFN28",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag704": {
"value": "\n
\n\nNote 40: List of subsidiaries, associates and joint ventures
\nThe table below presents a full list of the companies covered by Articles 3:104 and 3:156 of the Royal Decree
\nof 29 April 2019 pertaining to the execution of the Belgian Companies and Associations Code.
\nAs from the 2021 financial year, the Dutch subsidiaries of Aedifica NV will make use of the exemption provided
\nfor in Article 2:403 of the Dutch Civil Code. Consequently, the Dutch companies are exempted from filing
\nindividual financial statements with the trade register in the Netherlands
\n
\nNAME
\nCountry
\nCategory
\nRegister of
\ncorporations
\nCapital held
\n(in %)
\nAedifica Invest NV
\nBelgium \u00b9
\nSubsidiary
\n0879.109.317
\n100
\nImmobe NV
\nBelgium
\nAssociate
\n0697.566.095
\n25 \u00b9\u00b2
\nAED GVBF 1 NV
\nBelgium
\nSubsidiary
\n1003.556.060
\n100
\nAED GVBF 2 NV
\nBelgium
\nSubsidiary
\n1003.556.654
\n100
\nAED GVBF 3 NV
\nBelgium
\nSubsidiary
\n1003.557.347
\n100
\nAED GVBF 4 NV
\nBelgium
\nSubsidiary
\n1003.557.644
\n100
\nAED GVBF 5 NV Belgium Subsidiary 1003.552.201 100
\nAED GVBF 6 NV
\nBelgium
\nSubsidiary
\n1003.553.090
\n100
\nAED GVBF 7 NV
\nBelgium
\nSubsidiary
\n1003.553.684
\n100
\nAED GVBF 8 NV
\nBelgium
\nSubsidiary
\n1003.554.377
\n100
\nAED GVBF 9 NV
\nBelgium
\nSubsidiary
\n1003.554.674
\n100
\nAED GVBF 10 NV
\nBelgium
\nSubsidiary
\n1003.554.971
\n100
\nAED GVBF 11 NV
\nBelgium
\nSubsidiary
\n1003.555.169
\n100
\nAedifica Residenzen 1 GmbH&Co. KG
\nGermany \u00b2
\nSubsidiary
\nHRB112641
\n94 \u00b9\u00b3
\nAedifica Residenzen 2 GmbH&Co. KG
\nGermany
\nSubsidiary
\nHRB115795
\n94 \u00b9\u00b3
\nAedifica Residenzen 3 GmbH Germany Subsidiary HRB118227 94 \u00b9\u00b3
\nAedifica Residenzen 4 GmbH
\nGermany
\nSubsidiary
\nHRB121918
\n94 \u00b9\u00b3
\nAedifica Residenzen 5 GmbH
\nGermany
\nSubsidiary
\nHRB36193
\n94 \u00b9\u00b3
\nAedifica Residenzen 6 GmbH
\nGermany
\nSubsidiary
\nHRB33909
\n94 \u00b9\u00b3
\nAedifica Residenzen Nord GmbH&Co. KG
\nGermany
\nSubsidiary
\nHRB110850
\n94 \u00b9\u00b3
\nAedifica Residenzen West GmbH
\nGermany
\nSubsidiary
\nHRB117957
\n94 \u00b9\u00b3
\nAedifica Verwaltungs GmbH
\nGermany
\nSubsidiary
\nHRB111389
\n100
\nAedifica Asset Management GmbH
\nGermany
\nSubsidiary
\nHRB100562
\n100
\nAedifica Luxemburg I SCS Luxembourg \u00b3 Subsidiary B128048 94 \u00b9\u00b3
\nAedifica Luxemburg II SCS
\nLuxembourg
\nSubsidiary
\nB139725
\n94 \u00b9\u00b3
\nAedifica Luxemburg III SCS
\nLuxembourg
\nSubsidiary
\nB143704
\n94 \u00b9\u00b3
\nAedifica Luxemburg IV SCS
\nLuxembourg
\nSubsidiary
\nB117441
\n94 \u00b9\u00b3
\nAedifica Luxemburg V SCS
\nLuxembourg
\nSubsidiary
\nB117445
\n94 \u00b9\u00b3
\nAedifica Luxemburg VI SCS
\nLuxembourg
\nSubsidiary
\nB132154
\n94 \u00b9\u00b3
\nAedifica Luxemburg VII SCS
\nLuxembourg
\nSubsidiary
\nB117438
\n94 \u00b9\u00b3
\nAedifica Luxemburg VIII SCS
\nLuxembourg
\nSubsidiary
\nB117437
\n94 \u00b9\u00b3
\nAedifica Nederland BV Netherlands \u2074 Subsidiary 65422082 100
\nAedifica Nederland 2 BV
\nNetherlands
\nSubsidiary
\n75102099
\n100
\nAedifica Nederland Services BV
\nNetherlands
\nSubsidiary
\n75667800
\n100
\nAedifica Nederland 3 BV
\nNetherlands
\nSubsidiary
\n77636309
\n100
\nAedifica Nederland 4 BV
\nNetherlands
\nSubsidiary
\n81056664
\n100
\nAedifica Nederland Joint Venture BV
\nNetherlands
\nSubsidiary
\n80885551
\n100
\nAK JV NL public partnership
\nNetherlands
\nJoint-venture
\n81197470
\n50 \u00b9\u2074
\nAedifica Sonneborgh Real Estate BV
\nNetherlands
\nSubsidiary
\n84354267
\n75 \u00b9\u2075
\nAedifica Sonneborgh Ontwikkeling BV Netherlands Associate 64278859 50 \u00b9\u2074
\nNAME Country Category Register of
\ncorporations
\nCapital held
\n(in %)
\nCHAPP Holdings Ltd
\nJersey\u2075
\nSubsidiary
\n109055
\n100
\nPatient Properties (Beech Court) Ltd
\nJersey
\nSubsidiary
\n123678
\n100
\nPatient Properties (Springfields) Ltd Jersey Subsidiary 123687 100
\nPatient Properties (Eltandia) Ltd
\nJersey
\nSubsidiary
\n123682
\n100
\nPatient Properties (Windmill) Ltd
\nJersey
\nSubsidiary
\n123699
\n100
\nPatient Properties (Brook House) Ltd
\nJersey
\nSubsidiary
\n123680
\n100
\nLV Holdings Ltd
\nJersey
\nSubsidiary
\n103669
\n100
\nLV Charrieres Ltd
\nJersey
\nSubsidiary
\n133548
\n100
\nLV St. Josephs Ltd
\nJersey
\nSubsidiary
\n129910
\n100
\nAedifica UK Ltd
\nUK \u2076
\nSubsidiary
\n12351073
\n100
\nAedifica Finance 1 Ltd UK Subsidiary 12352308 100
\nAedifica Finance 2 Ltd
\nUK
\nSubsidiary
\n12352800
\n100
\nMaple Court Nursing Home Ltd
\nUK
\nSubsidiary
\n07295828
\n100
\nQuercus Homes 2018 Ltd
\nUK
\nSubsidiary
\n11278772
\n100
\nSapphire Properties (2016) Ltd
\nUK
\nSubsidiary
\n09461514
\n100
\nAedifica UK (Ampthill) Ltd
\nUK
\nSubsidiary
\n11159774
\n100
\nAedifica UK (Hailsham) Ltd
\nUK
\nSubsidiary
\n11159930
\n100
\nMarches Care Holdings Ltd
\nUK
\nSubsidiary
\n7097091
\n100
\nPriesty Fields Developments Ltd UK Subsidiary 10806474 100
\nAedifica Management Ltd
\nUK
\nSubsidiary
\n4797971
\n100
\nAedifica UK (Marston) Ltd
\nUK
\nSubsidiary
\n13816311
\n100
\nAedifica UK (Hessle) Ltd
\nUK
\nSubsidiary
\n10674329
\n100
\nAedifica UK (Lincoln) Ltd
\nUK
\nSubsidiary
\n13449716
\n100
\nMMCG 2 DEVCO 2 Ltd
\nUK (JO) \u2077
\nAssociate
\n13483857
\n25+1 \u00b9\u00b2
\nMMCG 2 DEVCO 3 Ltd
\nUK (JO)
\nAssociate
\n13483907
\n25+1 \u00b9\u00b2
\nAureit Holding Oy
\nFinland \u2078
\nSubsidiary
\n3092783-5
\n100
\nHoivatilat Oyj Finland Subsidiary 2241238-0 100
\nAs Oy Sein\u00e4joen Saga
\nFinland
\nSubsidiary
\n2779544-8
\n100
\nKoy \u00c4\u00e4nekosken \u00c4\u00e4neniementie 22
\nFinland
\nSubsidiary
\n3264862-9
\n100
\nKoy \u00c4\u00e4nekosken Likolahdenkatu
\nFinland
\nSubsidiary
\n2875205-2
\n100
\nKoy Espoon Fall\u00e5kerinrinne
\nFinland
\nSubsidiary
\n2620688-3
\n100
\nKoy Espoon Hirvisuontie
\nFinland
\nSubsidiary
\n2755334-2
\n100
\nKoy Espoon Kurttilantie
\nFinland
\nSubsidiary
\n3134900-2
\n100
\nKoy Espoon Kuurinkallio
\nFinland
\nSubsidiary
\n3201659-2
\n100
\nKoy Espoon Matinkartanontie
\nFinland
\nSubsidiary
\n3117665-8
\n100
\nKoy Espoon Meriviitantie Finland Subsidiary 2720369\u20102 100
\nKoy Espoon Oppilaantie
\nFinland
\nSubsidiary
\n2787263\u20104
\n100
\nKoy Espoon Palstalaisentie 4
\nFinland
\nSubsidiary
\n3309285-3
\n100
\nKoy Espoon Rajam\u00e4nnynahde
\nFinland
\nSubsidiary
\n3194972-9
\n100
\nKoy Espoon Tikasm\u00e4entie
\nFinland
\nSubsidiary
\n2669018-5
\n100
\nKoy Espoon Vuoripirtintie
\nFinland
\nSubsidiary
\n2748087-6
\n100
\nKoy Euran K\u00e4r\u00e4j\u00e4m\u00e4entie
\nFinland
\nSubsidiary
\n2842931\u20109
\n100
\nKoy Hakalahden Majakka
\nFinland
\nSubsidiary
\n2668724-2
\n100
\nKoy H\u00e4meenlinna Kampuskaarre Finland Subsidiary 3175924-7 100
\nKoy H\u00e4meenlinnan Jukolanraitti
\nFinland
\nSubsidiary
\n2826099\u20108
\n100
\nKoy H\u00e4meenlinnan Ruununmyllyntie
\nFinland
\nSubsidiary
\n3267462-4
\n100
\nKoy H\u00e4meenlinnan Vanha Alikartanontie
\nFinland
\nSubsidiary
\n2669024\u20109
\n100
\nKoy Haminan Lepik\u00f6nranta
\nFinland
\nSubsidiary
\n2988685\u20103
\n100
\nKoy Heinolan L\u00e4hteentie
\nFinland
\nSubsidiary
\n2752188\u20105
\n100
\n
\n\n\n
\n\n\n
\n\nNAME Country Category Register of
\ncorporations
\nCapital held
\n(in %)
\nKoy Helsingin Ensikodin tie 4
\nFinland
\nSubsidiary
\n3220641-7
\n100
\nKoy Helsingin Kansantie
\nFinland
\nSubsidiary
\n3214270-8
\n100
\nKoy Helsingin K\u00e4r\u00e4j\u00e4tuvantie Finland Subsidiary 3287010-7 100
\nKoy Helsingin Kr\u00e4mertintie
\nFinland
\nSubsidiary
\n3323987-8
\n100
\nKoy Helsingin Kutomokuja
\nFinland
\nSubsidiary
\n3287009-4
\n100
\nKoy Helsingin L\u00e4hdepolku
\nFinland
\nSubsidiary
\n3279404-4
\n100
\nKoy Helsingin Landbontie
\nFinland
\nSubsidiary
\n3270229-3
\n100
\nKoy Helsingin Pakarituvantie
\nFinland
\nSubsidiary
\n3131782-8
\n100
\nKoy Helsingin Radiokatu
\nFinland
\nSubsidiary
\n3270230-6
\n100
\nKoy Helsingin Ty\u00f6njohtajankadun Sepp\u00e43
\nFinland
\nSubsidiary
\n3009977-7
\n100
\nKoy Hollolan Kulmalantie 2 Finland Subsidiary 3354537-3 100
\nKoy Hollolan Sarkatie
\nFinland
\nSubsidiary
\n2749865\u20104
\n100
\nKoy Iisalmen Etel\u00e4inen Puistoraitti
\nFinland
\nSubsidiary
\n2840090\u20103
\n100
\nKoy Iisalmen Kangaslammintie
\nFinland
\nSubsidiary
\n2826102\u20106
\n100
\nKoy Iisalmen Petter Kumpulaisentie
\nFinland
\nSubsidiary
\n2882785\u20101
\n100
\nKoy Iisalmen Satamakatu
\nFinland
\nSubsidiary
\n3005776-1
\n100
\nKoy Iisalmen Vemmelkuja
\nFinland
\nSubsidiary
\n2917923\u20105
\n100
\nKoy Janakkalan Kekanahontie
\nFinland
\nSubsidiary
\n2911674\u20104
\n100
\nKoy J\u00e4rvenp\u00e4\u00e4n Auertie Finland Subsidiary 3279405-2 100
\nKoy J\u00e4rvenp\u00e4\u00e4n Yliopettajankatu
\nFinland
\nSubsidiary
\n2774063-1
\n100
\nKoy Jyv\u00e4skyl\u00e4n Ailakinkatu
\nFinland
\nSubsidiary
\n2932895\u20108
\n100
\nKoy Jyv\u00e4skyl\u00e4n Haperontie
\nFinland
\nSubsidiary
\n2763296\u20104
\n100
\nKoy Jyv\u00e4skyl\u00e4n Harjutie
\nFinland
\nSubsidiary
\n3172893-4
\n100
\nKoy Jyv\u00e4skyl\u00e4n Haukankaari
\nFinland
\nSubsidiary
\n3174128-2
\n100
\nKoy Jyv\u00e4skyl\u00e4n Mannisenm\u00e4entie
\nFinland
\nSubsidiary
\n2816983\u20106
\n100
\nKoy Jyv\u00e4skyl\u00e4n Martikaisentie
\nFinland
\nSubsidiary
\n2575556-5
\n100
\nKoy Jyv\u00e4skyl\u00e4n Palstatie Finland Subsidiary 2923254\u20102 100
\nKoy Jyv\u00e4skyl\u00e4n Sulkulantie
\nFinland
\nSubsidiary
\n2850306-4
\n100
\nKoy Jyv\u00e4skyl\u00e4n V\u00e4liharjuntie
\nFinland
\nSubsidiary
\n2639227\u20106
\n100
\nKoy Jyv\u00e4skyl\u00e4n V\u00e4vypojanpolku
\nFinland
\nSubsidiary
\n2960547\u20106
\n100
\nKoy Kaarinan Nurminiitynkatu
\nFinland
\nSubsidiary
\n2838030\u20108
\n100
\nKoy Kajaanin Er\u00e4tie
\nFinland
\nSubsidiary
\n2749663\u20102
\n100
\nKoy Kajaanin Hoikankatu
\nFinland
\nSubsidiary
\n2951667\u20106
\n100
\nKoy Kajaanin Mennink\u00e4isentie
\nFinland
\nSubsidiary
\n2681416\u20108
\n100
\nKoy Kajaanin Uitontie
\nFinland
\nSubsidiary
\n3164208-1
\n100
\nKoy Kangasalan Hilmanhovi Finland Subsidiary 2262908\u20108 100
\nKoy Kangasalan M\u00e4ntyver\u00e4j\u00e4ntie
\nFinland
\nSubsidiary
\n2688361\u20104
\n100
\nKoy Kangasalan Reki\u00e4l\u00e4ntie
\nFinland
\nSubsidiary
\n2940754-1
\n100
\nKoy Kaskisten Bladintie
\nFinland
\nSubsidiary
\n2224949-9
\n100
\nKoy Kempeleen Ihmemaantie
\nFinland
\nSubsidiary
\n3112115-5
\n100
\nKoy Keravan Lehmuskatu
\nFinland
\nSubsidiary
\n3256470-8
\n100
\nKoy Keravan M\u00e4nnik\u00f6ntie
\nFinland
\nSubsidiary
\n2774061\u20105
\n100
\nKoy Keravan Pianosoittajankatu
\nFinland
\nSubsidiary
\n3368773-4
\n100
\nKoy Keuruun Tehtaantie Finland Subsidiary 2877302\u20101 100
\nKoy Kirkkonummen Kotitontunkuja
\nFinland
\nSubsidiary
\n2692080\u20109
\n100
\nKoy Kokkola Kruunupyyntie
\nFinland
\nSubsidiary
\n3349210-1
\n100
\nKoy Kokkolan Ankkurikuja
\nFinland
\nSubsidiary
\n2955766\u20102
\n100
\nKoy Kokkolan Kaarlelankatu 68
\nFinland
\nSubsidiary
\n2668743-7
\n100
\nKoy Kokkolan Vanha Ouluntie
\nFinland
\nSubsidiary
\n2771913\u20108
\n100
\nNAME Country Category Register of
\ncorporations
\nCapital held
\n(in %)
\nKoy Kotkan Mets\u00e4kulmankatu 21
\nFinland
\nSubsidiary
\n2225111-8
\n100
\nKoy Kotkan S\u00e4rm\u00e4\u00e4j\u00e4nkatu 6
\nFinland
\nSubsidiary
\n3169793-9
\n100
\nKoy Kouvolan Kaartokuja Finland Subsidiary 2697590\u20106 100
\nKoy Kouvolan Rannikkotie
\nFinland
\nSubsidiary
\n2941695-8
\n100
\nKoy Kouvolan Ruskeasuonkatu
\nFinland
\nSubsidiary
\n2955751-5
\n100
\nKoy Kouvolan Vainiolankuja
\nFinland
\nSubsidiary
\n3134903-7
\n100
\nKoy Kouvolan Vinttikaivontie
\nFinland
\nSubsidiary
\n2543325\u20109
\n100
\nKoy Kuopion Amerikanraitti 10
\nFinland
\nSubsidiary
\n2837113\u20107
\n100
\nKoy Kuopion M\u00e4nnist\u00f6nkatu
\nFinland
\nSubsidiary
\n3127190-3
\n100
\nKoy Kuopion Opistokuja 3
\nFinland
\nSubsidiary
\n3176660-7
\n100
\nKoy Kuopion Pirtinkaari Finland Subsidiary 2873993-1 100
\nKoy Kuopion Portti A2
\nFinland
\nSubsidiary
\n2874104-6
\n100
\nKoy Kuopion Rantaraitti
\nFinland
\nSubsidiary
\n2770280\u20103
\n100
\nKoy Kuopion Sipulikatu
\nFinland
\nSubsidiary
\n2509836\u20106
\n100
\nKoy Kuopion Torpankatu
\nFinland
\nSubsidiary
\n3338477-6
\n100
\nKoy Lahden Jahtikatu
\nFinland
\nSubsidiary
\n2861249\u20108
\n100
\nKoy Lahden Kurenniityntie
\nFinland
\nSubsidiary
\n3008794-4
\n100
\nKoy Lahden Makarantie
\nFinland
\nSubsidiary
\n2988683-7
\n100
\nKoy Lahden Piisamikatu Finland Subsidiary 2861251\u20109 100
\nKoy Lahden Vallesmanninkatu A
\nFinland
\nSubsidiary
\n2675831\u20101
\n100
\nKoy Lahden Vallesmanninkatu B
\nFinland
\nSubsidiary
\n2675827\u20104
\n100
\nKoy Laihian Jarrumiehentie
\nFinland
\nSubsidiary
\n2798400\u20103
\n100
\nKoy Lappeenrannan Orioninkatu
\nFinland
\nSubsidiary
\n2877591\u20106
\n100
\nKoy Laukaan Hyt\u00f6senkuja
\nFinland
\nSubsidiary
\n2681456\u20103
\n100
\nKoy Laukaan Peurungantie
\nFinland
\nSubsidiary
\n2821700-9
\n100
\nKoy Laukaan Saratie
\nFinland
\nSubsidiary
\n2896187\u20104
\n100
\nKoy Lemp\u00e4\u00e4l\u00e4n Tampereentie Finland Subsidiary 3266246-3 100
\nKoy Limingan Kauppakaari
\nFinland
\nSubsidiary
\n2553773\u20106
\n100
\nKoy Limingan Saunarannantie
\nFinland
\nSubsidiary
\n3267223-1
\n100
\nKoy Lohjan Ansatie
\nFinland
\nSubsidiary
\n2768296\u20101
\n100
\nKoy Lohjan Porapojankuja
\nFinland
\nSubsidiary
\n3130512-2
\n100
\nKoy Lohjan Sahapiha
\nFinland
\nSubsidiary
\n3132701-4
\n100
\nKoy Loimaan Itsen\u00e4isyydenkatu
\nFinland
\nSubsidiary
\n2887703-1
\n100
\nKoy Loviisan Mannerheiminkatu
\nFinland
\nSubsidiary
\n2648698\u20105
\n100
\nKoy M\u00e4nts\u00e4l\u00e4n Liedontie
\nFinland
\nSubsidiary
\n2505670\u20105
\n100
\nKoy M\u00e4ntyharjun L\u00e4\u00e4k\u00e4rinkuja Finland Subsidiary 2761813\u20104 100
\nKoy Maskun Ruskontie
\nFinland
\nSubsidiary
\n2610017\u20103
\n100
\nKoy Mikkelin Kastanjakuja
\nFinland
\nSubsidiary
\n2915481-2
\n100
\nKoy Mikkelin Sahalantie
\nFinland
\nSubsidiary
\n3004499-5
\n100
\nKoy Mikkelin V\u00e4\u00e4n\u00e4senpolku
\nFinland
\nSubsidiary
\n2864738\u20103
\n100
\nKoy Mikkelin Yl\u00e4nnetie 8
\nFinland
\nSubsidiary
\n2839320\u20105
\n100
\nKoy Myn\u00e4m\u00e4en Opintie
\nFinland
\nSubsidiary
\n2957425\u20101
\n100
\nKoy Nokian Kivimiehenkatu 4
\nFinland
\nSubsidiary
\n1056103-9
\n100
\nKoy Nokian Luhtatie Finland Subsidiary 2882228-4 100
\nKoy Nokian N\u00e4si\u00e4katu
\nFinland
\nSubsidiary
\n2772561\u20108
\n100
\nKoy Nokian T\u00e4htisumunkatu
\nFinland
\nSubsidiary
\n3328037-9
\n100
\nKoy Nokian Vikkulankatu
\nFinland
\nSubsidiary
\n2720339\u20103
\n100
\nKoy Nurmij\u00e4rven Laidunalue
\nFinland
\nSubsidiary
\n2415548\u20108
\n100
\nKoy Nurmij\u00e4rven Luhtavillantie
\nFinland
\nSubsidiary
\n3202629-9
\n100
\n
\n\n\n
\n\n\n
\n\nNAME Country Category Register of
\ncorporations
\nCapital held
\n(in %)
\nKoy Nurmij\u00e4rven Ratakuja
\nFinland
\nSubsidiary
\n2807462\u20106
\n100
\nKoy Orimattilan Suppulanpolku
\nFinland
\nSubsidiary
\n2750819\u20107
\n100
\nKoy Oulun Isopurjeentie 3 Finland Subsidiary 2255743-2 100
\nKoy Oulun Jahtivoudintie
\nFinland
\nSubsidiary
\n2759228-8
\n100
\nKoy Oulun Juhlamarssi
\nFinland
\nSubsidiary
\n3217953-5
\n100
\nKoy Oulun M\u00e4ntypellonpolku
\nFinland
\nSubsidiary
\n3182688-4
\n100
\nKoy Oulun Raamipolku
\nFinland
\nSubsidiary
\n2798361-7
\n100
\nKoy Oulun Ruismets\u00e4
\nFinland
\nSubsidiary
\n3008792-8
\n100
\nKoy Oulun Salonp\u00e4\u00e4n koulu
\nFinland
\nSubsidiary
\n3100847-8
\n100
\nKoy Oulun Sarvisuontie
\nFinland
\nSubsidiary
\n2899591\u20109
\n100
\nKoy Oulun Siilotie Finland Subsidiary 3006511-2 100
\nKoy Oulun Siilotie K21 A
\nFinland
\nSubsidiary
\n3311639-2
\n100
\nKoy Oulun Siilotie K21 B
\nFinland
\nSubsidiary
\n3311641-3
\n100
\nKoy Oulun Siilotie K21 C
\nFinland
\nSubsidiary
\n3311642-1
\n100
\nKoy Oulun Soittajanlenkki
\nFinland
\nSubsidiary
\n2920514-9
\n100
\nKoy Oulun Tahtimarssi
\nFinland
\nSubsidiary
\n3331416-1
\n100
\nKoy Oulun Ukkoherrantie A
\nFinland
\nSubsidiary
\n3141465-2
\n100
\nKoy Oulun Ukkoherrantie B
\nFinland
\nSubsidiary
\n2781801\u20103
\n100
\nKoy Oulun Upseerinkatu Finland Subsidiary 3302679-2 100
\nKoy Oulun Vaaranpiha
\nFinland
\nSubsidiary
\n3146139-5
\n100
\nKoy Oulun Valjastie
\nFinland
\nSubsidiary
\n3139840-2
\n100
\nKoy Oulun Villa Sulka
\nFinland
\nSubsidiary
\n2695880-7
\n100
\nKoy Oulun Vihannestie
\nFinland
\nSubsidiary
\n3127183-1
\n100
\nKoy Paimion M\u00e4kil\u00e4ntie
\nFinland
\nSubsidiary
\n2853714\u20101
\n100
\nKoy Pateniemenranta
\nFinland
\nSubsidiary
\n2930852-7
\n100
\nKoy Pieks\u00e4m\u00e4en Ruustinnantie
\nFinland
\nSubsidiary
\n2903250-8
\n100
\nKoy Pihtiputaan Nurmelanpolku Finland Subsidiary 2860057\u20107 100
\nKoy Pirkkalan Lehtim\u00e4entie
\nFinland
\nSubsidiary
\n2593596\u20101
\n100
\nKoy Pirkkalan Perensaarentie
\nFinland
\nSubsidiary
\n2808085\u20108
\n100
\nKoy Porin Kerhotie 1
\nFinland
\nSubsidiary
\n3145625-4
\n100
\nKoy Porin Koekatu
\nFinland
\nSubsidiary
\n2835076\u20106
\n100
\nKoy Porin Ojantie
\nFinland
\nSubsidiary
\n2625961\u20109
\n100
\nKoy Porvoon Fredrika Runebergin katu
\nFinland
\nSubsidiary
\n2760328\u20102
\n100
\nKoy Porvoon Haarap\u00e4\u00e4skyntie
\nFinland
\nSubsidiary
\n2951666\u20108
\n100
\nKoy Porvoon Peippolankuja
\nFinland
\nSubsidiary
\n2588814\u20109
\n100
\nKoy Porvoon Vanha Kuninkaantie Finland Subsidiary 2746305\u20106 100
\nKoy Raahen Kirkkokatu
\nFinland
\nSubsidiary
\n3143874-2
\n100
\nKoy Raahen Palokunnanhovi
\nFinland
\nSubsidiary
\n2326426\u20100
\n100
\nKoy Raahen Vihastenkarinkatu
\nFinland
\nSubsidiary
\n2917887-3
\n100
\nKoy Raision Tenavakatu
\nFinland
\nSubsidiary
\n2553772\u20108
\n100
\nKoy Riihim\u00e4en Jyr\u00e4tie
\nFinland
\nSubsidiary
\n2956737-7
\n100
\nKoy Rovaniemen Gardininkuja
\nFinland
\nSubsidiary
\n3100848-6
\n100
\nKoy Rovaniemen Koulukaari
\nFinland
\nSubsidiary
\n3239963-4
\n100
\nKoy Rovaniemen M\u00e4kiranta Finland Subsidiary 2994385-4 100
\nKoy Rovaniemen Matkavaarantie
\nFinland
\nSubsidiary
\n2838821\u20101
\n100
\nKoy Rovaniemen Muonakuja
\nFinland
\nSubsidiary
\n3110312-5
\n100
\nKoy Rovaniemen Rakkakiventie
\nFinland
\nSubsidiary
\n2865638-6
\n100
\nKoy Rovaniemen Ritarinne
\nFinland
\nSubsidiary
\n2754616\u20109
\n100
\nKoy Rovaniemen Santam\u00e4entie
\nFinland
\nSubsidiary
\n3008789-9
\n100
\nNAME Country Category Register of
\ncorporations
\nCapital held
\n(in %)
\nKoy Ruskon P\u00e4\u00e4llist\u00f6nm\u00e4entie
\nFinland
\nSubsidiary
\n2789540\u20106
\n100
\nKoy Salon Linnankoskentie
\nFinland
\nSubsidiary
\n3330201-3
\n100
\nKoy Salon Papinkuja Finland Subsidiary 3155224-6 100
\nKoy Siilinj\u00e4rven Nilsi\u00e4ntie
\nFinland
\nSubsidiary
\n2934834\u20102
\n100
\nKoy Siilinj\u00e4rven Risulantie
\nFinland
\nSubsidiary
\n2854061\u20105
\n100
\nKoy Siilinj\u00e4rven Sinisiipi
\nFinland
\nSubsidiary
\n2479104\u20106
\n100
\nKoy Sipoon Aarrepuistonkuja
\nFinland
\nSubsidiary
\n2878144\u20103
\n100
\nKoy Sipoon Aarretie
\nFinland
\nSubsidiary
\n2870619\u20105
\n100
\nKoy Sotkamon H\u00e4rk\u00f6kivenkatu
\nFinland
\nSubsidiary
\n3314858-9
\n100
\nKoy Sotkamon Kirkkotie
\nFinland
\nSubsidiary
\n2917890\u20102
\n100
\nKoy Tampereen Haiharansuu Finland Subsidiary 3192647-1 100
\nKoy Tampereen Lent\u00e4v\u00e4nniemenkatu
\nFinland
\nSubsidiary
\n2648697\u20107
\n100
\nKoy Tampereen Sisunaukio
\nFinland
\nSubsidiary
\n2355346-8
\n100
\nKoy Tampereen Ter\u00e4skatu
\nFinland
\nSubsidiary
\n3284989-3
\n100
\nKoy Teuvan Tuokkolantie 14
\nFinland
\nSubsidiary
\n2225109-7
\n100
\nKoy Tornion Torpin Rinnakkaiskatu
\nFinland
\nSubsidiary
\n2816984\u20104
\n100
\nKoy Turun Lemmontie
\nFinland
\nSubsidiary
\n2551472-9
\n100
\nKoy Turun Lukkosep\u00e4nkatu
\nFinland
\nSubsidiary
\n2842686\u20103
\n100
\nKoy Turun Malin Tr\u00e4llinkuja Finland Subsidiary 3171440-1 100
\nKoy Turun Paltankatu
\nFinland
\nSubsidiary
\n2845199\u20107
\n100
\nKoy Turun Teollisuuskatu
\nFinland
\nSubsidiary
\n2729980\u20107
\n100
\nKoy Turun V\u00e4h\u00e4heikkil\u00e4ntie
\nFinland
\nSubsidiary
\n2660277\u20101
\n100
\nKoy Turun Vakiniituntie
\nFinland
\nSubsidiary
\n2648689\u20107
\n100
\nKoy Tuusulan Isokarhunkierto
\nFinland
\nSubsidiary
\n3005414-9
\n100
\nKoy Tuusulan Temmontie
\nFinland
\nSubsidiary
\n3325587-8
\n100
\nKoy Ulvilan Kulmalantie
\nFinland
\nSubsidiary
\n2966954-1
\n100
\nKoy Uudenkaupungin Merilinnuntie Finland Subsidiary 2878831\u20101 100
\nKoy Uudenkaupungin Merimetsopolku B
\nFinland
\nSubsidiary
\n2798800\u20104
\n100
\nKoy Uudenkaupungin Merimetsopolku C
\nFinland
\nSubsidiary
\n2797654\u20108
\n100
\nKoy Uudenkaupungin Puusep\u00e4nkatu
\nFinland
\nSubsidiary
\n2766340\u20102
\n100
\nKoy Vaasan M\u00e4kikaivontie 22
\nFinland
\nSubsidiary
\n1743075-2
\n100
\nKoy Vaasan Tehokatu 10
\nFinland
\nSubsidiary
\n2246849-9
\n100
\nKoy Vaasan Uusmets\u00e4ntie
\nFinland
\nSubsidiary
\n3000725-4
\n100
\nKoy Vaasan Vanhan Vaasankatu
\nFinland
\nSubsidiary
\n2882784\u20103
\n100
\nKoy Valkeakosken Juusontie
\nFinland
\nSubsidiary
\n3244769-1
\n100
\nKoy Vantaan Asolantie 14 Finland Subsidiary 2319120-9 100
\nKoy Vantaan Haravakuja
\nFinland
\nSubsidiary
\n3331473-5
\n100
\nKoy Vantaan Koetilankatu
\nFinland
\nSubsidiary
\n2656382\u20101
\n100
\nKoy Vantaan Koivukyl\u00e4n Puistotie
\nFinland
\nSubsidiary
\n2933844\u20103
\n100
\nKoy Vantaan Mesikukantie
\nFinland
\nSubsidiary
\n2755333\u20104
\n100
\nKoy Vantaan Punakiventie
\nFinland
\nSubsidiary
\n2675834\u20106
\n100
\nKoy Vantaan Tuovintie
\nFinland
\nSubsidiary
\n2711240\u20108
\n100
\nKoy Vantaan Vuohirinne
\nFinland
\nSubsidiary
\n2691248\u20109
\n100
\nKoy Vihdin Hiidenrannantie Finland Subsidiary 2616455\u20106 100
\nKoy Vihdin Vanhan sep\u00e4ntie
\nFinland
\nSubsidiary
\n2625959\u20108
\n100
\nKoy Ylivieskan Mikontie 1
\nFinland
\nSubsidiary
\n2850860\u20107
\n100
\nKoy Ylivieskan Ratakatu 12
\nFinland
\nSubsidiary
\n2850859\u20104
\n100
\nKoy Yl\u00f6j\u00e4rven Ty\u00f6v\u00e4entalontie
\nFinland
\nSubsidiary
\n2690219\u20102
\n100
\nMajakka Kiinteist\u00f6t Oy
\nFinland
\nSubsidiary
\n2760856-9
\n100
\n
\n\n\n
\n\n\n
\n\nNAME Country Category Register of
\ncorporations
\nCapital held
\n(in %)
\nHoivatilat AB
\nSweden \u2079
\nSubsidiary
\n559169-2461
\n100
\nHoivatilat Holding AB
\nSweden
\nSubsidiary
\n559192-8311
\n100
\nHoivatilat Holding 2 AB Sweden Subsidiary 559204-7426 100
\nHoivatilat Holding 3 AB
\nSweden
\nSubsidiary
\n559296-1519
\n100
\nHoivatilat Holding 4 AB
\nSweden
\nSubsidiary
\n559301-4979
\n100
\nHoivatilat Holding 5 AB
\nSweden
\nSubsidiary
\n559318-8286
\n100
\n\u00c4lmhult Kunskapsgatan AB
\nSweden
\nSubsidiary
\n559149-1732
\n100
\nEnk\u00f6ping H\u00e4sslinge LSS boende AB
\nSweden
\nSubsidiary
\n559152-2247
\n100
\nFanna 24:19 AB
\nSweden
\nSubsidiary
\n559252-4788
\n100
\nF\u00f6rskola Kalleberga AB
\nSweden
\nSubsidiary
\n559204-7392
\n100
\nF\u00f6rskola Mesta 6:56 AB Sweden Subsidiary 559195-0570 100
\nGr\u00e5munkeh\u00f6ga LSS boende AB
\nSweden
\nSubsidiary
\n559131-8877
\n100
\nHeby LSS boende AB
\nSweden
\nSubsidiary
\n559073-5634
\n100
\nHoivatilat Projekt 1 AB
\nSweden
\nSubsidiary
\n559376-5968
\n100
\nHuddinge Svartviksv\u00e4gen F\u00f6rskola AB
\nSweden
\nSubsidiary
\n559283-2595
\n100
\nLaholm Nyby LSS boende AB
\nSweden
\nSubsidiary
\n559149-6335
\n100
\nLiding\u00f6 Islinge F\u00f6rskola AB
\nSweden
\nSubsidiary
\n559376-5935
\n100
\nNorrt\u00e4lje \u00d6sthamra F\u00f6rskola AB
\nSweden
\nSubsidiary
\n559180-2078
\n100
\nNyk\u00f6ping Anderb\u00e4ck LSS boende AB Sweden Subsidiary 559150-0979 100
\nNyk\u00f6ping Bergshammar LSS boende AB
\nSweden
\nSubsidiary
\n559205-6872
\n100
\nNyn\u00e4shamn Skola Sittesta AB
\nSweden
\nSubsidiary
\n559087-5604
\n100
\n\u00d6rebro Hovsta Gryt LSS boende AB
\nSweden
\nSubsidiary
\n559152-7147
\n100
\n\u00d6rebro T\u00f6rsj\u00f6 LSS boende AB
\nSweden
\nSubsidiary
\n559163-1931
\n100
\nOskarshamn Emmekalv LSS boende AB
\nSweden
\nSubsidiary
\n559163-3788
\n100
\n\u00d6ster\u00e5ker Sing\u00f6 LSS boende AB
\nSweden
\nSubsidiary
\n559196-9786
\n100
\nStaffanstorp Borgg\u00e5rd 1:553 AB
\nSweden
\nSubsidiary
\n559346-7144
\n100
\nStr\u00e4ngn\u00e4s Biv\u00e4gen AB Sweden Subsidiary 559232-8685 100
\nTierp LSS boende AB
\nSweden
\nSubsidiary
\n559218-2876
\n100
\nUpplands V\u00e4sby Havregatan F\u00f6rskola AB
\nSweden
\nSubsidiary
\n559234-9079
\n100
\nUppsala Almungeberg 1 LSS boende AB
\nSweden
\nSubsidiary
\n559131-1468
\n100
\nUppsala Almungeberg 2 LSS boende AB
\nSweden
\nSubsidiary
\n559150-0938
\n100
\nUppsala B\u00e4linge L\u00f6vsta1 LSS boende AB
\nSweden
\nSubsidiary
\n556908-5391
\n100
\nUppsala B\u00e4linge L\u00f6vsta2 LSS boende AB
\nSweden
\nSubsidiary
\n556864-9460
\n100
\nUppsala Norby LSS boende AB
\nSweden
\nSubsidiary
\n559376-5976
\n100
\nUppsala Sunnersta LSS boende AB
\nSweden
\nSubsidiary
\n556900-2024
\n100
\nVallentuna V\u00e4stlunda LSS boende AB Sweden Subsidiary 559152-7139 100
\nV\u00e4xj\u00f6 LSS boende AB
\nSweden
\nSubsidiary
\n559190-6267
\n100
\nAedifica Ireland Ltd
\nIreland \u00b9\u2070
\nSubsidiary
\n683400
\n100
\nEdge Fusion Ltd
\nIreland
\nSubsidiary
\n614415
\n100
\nEnthree Ltd
\nIreland
\nSubsidiary
\n683028
\n100
\nJKP Nursing Home Ltd
\nIreland
\nSubsidiary
\n483964
\n100
\nMillennial Generation Ltd
\nIreland
\nSubsidiary
\n607665
\n100
\nPrudent Capital Ltd
\nIreland
\nSubsidiary
\n562309
\n100
\nSolcrea Ltd Ireland Subsidiary 614470 100
\nAED RE Espana 1 SLU
\nSpain \u00b9\u00b9
\nSubsidiary
\nB16839649
\n100
\nAED RE Espana 2 SLU
\nSpain
\nSubsidiary
\nB91643411
\n100
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n1. With the exception of Immobe NV (located at Avenue Louise 331 in 1050 Brussels (Belgium)), all Belgian companies
\nare located at Rue Belliard 40 box 11 in 1040 Brussels (Belgium).
\n2. All German companies are located at Gervinusstra\u00dfe 15-17 in 60322 Frankfurt am Main (Germany).
\n3. All Luxembourg companies are located at rue Guillaume J. Kroll 12 C in 1882 Luxembourg (Luxembourg).
\n4. All Dutch companies are located at Amstelplein 54, 1096 BC Amsterdam (Netherlands).
\n5. All Jersey companies are located at 47 Esplanade in St. Helier JE1 0BD (Jersey).
\n6. All UK companies are located at 13 Hanover Square, London, England, W1S 1HN (United Kingdom).
\n7. All UK JO companies are located Westcourt, Gelderd Road, Leeds, England, LS12 6DB (United Kingdom).
\n8. All Finnish companies are located at Kasarmintie 21, 90130 Oulu (Finland).
\n9. All Swedish companies are located at Sv\u00e4rdv\u00e4gen 21, 18233 Danderyd (Sweden).
\n10. All Irish companies are located at 29 Earlsfort Terrace, Dublin 2, Ireland D02 AY28 (Ireland).
\n11. All Spanish companies are located at Travessera de Gr\u00e0cia 11, 5\u00aa pl., 08021 Barcelona (Spain).
\n12. The residual 75% is held by an investor that is unrelated to Aedifica.
\n13. The residual 6% is held by an investor that is unrelated to Aedifica.
\n14. The residual 50% is held by a partner that is unrelated to Aedifica.
\n15. The residual 25% is held by a partner that is unrelated to Aedifica.
\n
\n\n\n
\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfSignificantInvestmentsInAssociatesExplanatory",
"language": "en",
"entity": "scheme:529900DTKNXL0AXQFN28",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag705": {
"value": "\nNote 40: List of subsidiaries, associates and joint ventures
\nThe table below presents a full list of the companies covered by Articles 3:104 and 3:156 of the Royal Decree
\nof 29 April 2019 pertaining to the execution of the Belgian Companies and Associations Code.
\nAs from the 2021 financial year, the Dutch subsidiaries of Aedifica NV will make use of the exemption provided
\nfor in Article 2:403 of the Dutch Civil Code. Consequently, the Dutch companies are exempted from filing
\nindividual financial statements with the trade register in the Netherlands
\n
\nNAME
\nCountry
\nCategory
\nRegister of
\ncorporations
\nCapital held
\n(in %)
\nAedifica Invest NV
\nBelgium \u00b9
\nSubsidiary
\n0879.109.317
\n100
\nImmobe NV
\nBelgium
\nAssociate
\n0697.566.095
\n25 \u00b9\u00b2
\nAED GVBF 1 NV
\nBelgium
\nSubsidiary
\n1003.556.060
\n100
\nAED GVBF 2 NV
\nBelgium
\nSubsidiary
\n1003.556.654
\n100
\nAED GVBF 3 NV
\nBelgium
\nSubsidiary
\n1003.557.347
\n100
\nAED GVBF 4 NV
\nBelgium
\nSubsidiary
\n1003.557.644
\n100
\nAED GVBF 5 NV Belgium Subsidiary 1003.552.201 100
\nAED GVBF 6 NV
\nBelgium
\nSubsidiary
\n1003.553.090
\n100
\nAED GVBF 7 NV
\nBelgium
\nSubsidiary
\n1003.553.684
\n100
\nAED GVBF 8 NV
\nBelgium
\nSubsidiary
\n1003.554.377
\n100
\nAED GVBF 9 NV
\nBelgium
\nSubsidiary
\n1003.554.674
\n100
\nAED GVBF 10 NV
\nBelgium
\nSubsidiary
\n1003.554.971
\n100
\nAED GVBF 11 NV
\nBelgium
\nSubsidiary
\n1003.555.169
\n100
\nAedifica Residenzen 1 GmbH&Co. KG
\nGermany \u00b2
\nSubsidiary
\nHRB112641
\n94 \u00b9\u00b3
\nAedifica Residenzen 2 GmbH&Co. KG
\nGermany
\nSubsidiary
\nHRB115795
\n94 \u00b9\u00b3
\nAedifica Residenzen 3 GmbH Germany Subsidiary HRB118227 94 \u00b9\u00b3
\nAedifica Residenzen 4 GmbH
\nGermany
\nSubsidiary
\nHRB121918
\n94 \u00b9\u00b3
\nAedifica Residenzen 5 GmbH
\nGermany
\nSubsidiary
\nHRB36193
\n94 \u00b9\u00b3
\nAedifica Residenzen 6 GmbH
\nGermany
\nSubsidiary
\nHRB33909
\n94 \u00b9\u00b3
\nAedifica Residenzen Nord GmbH&Co. KG
\nGermany
\nSubsidiary
\nHRB110850
\n94 \u00b9\u00b3
\nAedifica Residenzen West GmbH
\nGermany
\nSubsidiary
\nHRB117957
\n94 \u00b9\u00b3
\nAedifica Verwaltungs GmbH
\nGermany
\nSubsidiary
\nHRB111389
\n100
\nAedifica Asset Management GmbH
\nGermany
\nSubsidiary
\nHRB100562
\n100
\nAedifica Luxemburg I SCS Luxembourg \u00b3 Subsidiary B128048 94 \u00b9\u00b3
\nAedifica Luxemburg II SCS
\nLuxembourg
\nSubsidiary
\nB139725
\n94 \u00b9\u00b3
\nAedifica Luxemburg III SCS
\nLuxembourg
\nSubsidiary
\nB143704
\n94 \u00b9\u00b3
\nAedifica Luxemburg IV SCS
\nLuxembourg
\nSubsidiary
\nB117441
\n94 \u00b9\u00b3
\nAedifica Luxemburg V SCS
\nLuxembourg
\nSubsidiary
\nB117445
\n94 \u00b9\u00b3
\nAedifica Luxemburg VI SCS
\nLuxembourg
\nSubsidiary
\nB132154
\n94 \u00b9\u00b3
\nAedifica Luxemburg VII SCS
\nLuxembourg
\nSubsidiary
\nB117438
\n94 \u00b9\u00b3
\nAedifica Luxemburg VIII SCS
\nLuxembourg
\nSubsidiary
\nB117437
\n94 \u00b9\u00b3
\nAedifica Nederland BV Netherlands \u2074 Subsidiary 65422082 100
\nAedifica Nederland 2 BV
\nNetherlands
\nSubsidiary
\n75102099
\n100
\nAedifica Nederland Services BV
\nNetherlands
\nSubsidiary
\n75667800
\n100
\nAedifica Nederland 3 BV
\nNetherlands
\nSubsidiary
\n77636309
\n100
\nAedifica Nederland 4 BV
\nNetherlands
\nSubsidiary
\n81056664
\n100
\nAedifica Nederland Joint Venture BV
\nNetherlands
\nSubsidiary
\n80885551
\n100
\nAK JV NL public partnership
\nNetherlands
\nJoint-venture
\n81197470
\n50 \u00b9\u2074
\nAedifica Sonneborgh Real Estate BV
\nNetherlands
\nSubsidiary
\n84354267
\n75 \u00b9\u2075
\nAedifica Sonneborgh Ontwikkeling BV Netherlands Associate 64278859 50 \u00b9\u2074
\nNAME Country Category Register of
\ncorporations
\nCapital held
\n(in %)
\nCHAPP Holdings Ltd
\nJersey\u2075
\nSubsidiary
\n109055
\n100
\nPatient Properties (Beech Court) Ltd
\nJersey
\nSubsidiary
\n123678
\n100
\nPatient Properties (Springfields) Ltd Jersey Subsidiary 123687 100
\nPatient Properties (Eltandia) Ltd
\nJersey
\nSubsidiary
\n123682
\n100
\nPatient Properties (Windmill) Ltd
\nJersey
\nSubsidiary
\n123699
\n100
\nPatient Properties (Brook House) Ltd
\nJersey
\nSubsidiary
\n123680
\n100
\nLV Holdings Ltd
\nJersey
\nSubsidiary
\n103669
\n100
\nLV Charrieres Ltd
\nJersey
\nSubsidiary
\n133548
\n100
\nLV St. Josephs Ltd
\nJersey
\nSubsidiary
\n129910
\n100
\nAedifica UK Ltd
\nUK \u2076
\nSubsidiary
\n12351073
\n100
\nAedifica Finance 1 Ltd UK Subsidiary 12352308 100
\nAedifica Finance 2 Ltd
\nUK
\nSubsidiary
\n12352800
\n100
\nMaple Court Nursing Home Ltd
\nUK
\nSubsidiary
\n07295828
\n100
\nQuercus Homes 2018 Ltd
\nUK
\nSubsidiary
\n11278772
\n100
\nSapphire Properties (2016) Ltd
\nUK
\nSubsidiary
\n09461514
\n100
\nAedifica UK (Ampthill) Ltd
\nUK
\nSubsidiary
\n11159774
\n100
\nAedifica UK (Hailsham) Ltd
\nUK
\nSubsidiary
\n11159930
\n100
\nMarches Care Holdings Ltd
\nUK
\nSubsidiary
\n7097091
\n100
\nPriesty Fields Developments Ltd UK Subsidiary 10806474 100
\nAedifica Management Ltd
\nUK
\nSubsidiary
\n4797971
\n100
\nAedifica UK (Marston) Ltd
\nUK
\nSubsidiary
\n13816311
\n100
\nAedifica UK (Hessle) Ltd
\nUK
\nSubsidiary
\n10674329
\n100
\nAedifica UK (Lincoln) Ltd
\nUK
\nSubsidiary
\n13449716
\n100
\nMMCG 2 DEVCO 2 Ltd
\nUK (JO) \u2077
\nAssociate
\n13483857
\n25+1 \u00b9\u00b2
\nMMCG 2 DEVCO 3 Ltd
\nUK (JO)
\nAssociate
\n13483907
\n25+1 \u00b9\u00b2
\nAureit Holding Oy
\nFinland \u2078
\nSubsidiary
\n3092783-5
\n100
\nHoivatilat Oyj Finland Subsidiary 2241238-0 100
\nAs Oy Sein\u00e4joen Saga
\nFinland
\nSubsidiary
\n2779544-8
\n100
\nKoy \u00c4\u00e4nekosken \u00c4\u00e4neniementie 22
\nFinland
\nSubsidiary
\n3264862-9
\n100
\nKoy \u00c4\u00e4nekosken Likolahdenkatu
\nFinland
\nSubsidiary
\n2875205-2
\n100
\nKoy Espoon Fall\u00e5kerinrinne
\nFinland
\nSubsidiary
\n2620688-3
\n100
\nKoy Espoon Hirvisuontie
\nFinland
\nSubsidiary
\n2755334-2
\n100
\nKoy Espoon Kurttilantie
\nFinland
\nSubsidiary
\n3134900-2
\n100
\nKoy Espoon Kuurinkallio
\nFinland
\nSubsidiary
\n3201659-2
\n100
\nKoy Espoon Matinkartanontie
\nFinland
\nSubsidiary
\n3117665-8
\n100
\nKoy Espoon Meriviitantie Finland Subsidiary 2720369\u20102 100
\nKoy Espoon Oppilaantie
\nFinland
\nSubsidiary
\n2787263\u20104
\n100
\nKoy Espoon Palstalaisentie 4
\nFinland
\nSubsidiary
\n3309285-3
\n100
\nKoy Espoon Rajam\u00e4nnynahde
\nFinland
\nSubsidiary
\n3194972-9
\n100
\nKoy Espoon Tikasm\u00e4entie
\nFinland
\nSubsidiary
\n2669018-5
\n100
\nKoy Espoon Vuoripirtintie
\nFinland
\nSubsidiary
\n2748087-6
\n100
\nKoy Euran K\u00e4r\u00e4j\u00e4m\u00e4entie
\nFinland
\nSubsidiary
\n2842931\u20109
\n100
\nKoy Hakalahden Majakka
\nFinland
\nSubsidiary
\n2668724-2
\n100
\nKoy H\u00e4meenlinna Kampuskaarre Finland Subsidiary 3175924-7 100
\nKoy H\u00e4meenlinnan Jukolanraitti
\nFinland
\nSubsidiary
\n2826099\u20108
\n100
\nKoy H\u00e4meenlinnan Ruununmyllyntie
\nFinland
\nSubsidiary
\n3267462-4
\n100
\nKoy H\u00e4meenlinnan Vanha Alikartanontie
\nFinland
\nSubsidiary
\n2669024\u20109
\n100
\nKoy Haminan Lepik\u00f6nranta
\nFinland
\nSubsidiary
\n2988685\u20103
\n100
\nKoy Heinolan L\u00e4hteentie
\nFinland
\nSubsidiary
\n2752188\u20105
\n100
\n
\n\n\nNAME Country Category Register of
\ncorporations
\nCapital held
\n(in %)
\nKoy Helsingin Ensikodin tie 4
\nFinland
\nSubsidiary
\n3220641-7
\n100
\nKoy Helsingin Kansantie
\nFinland
\nSubsidiary
\n3214270-8
\n100
\nKoy Helsingin K\u00e4r\u00e4j\u00e4tuvantie Finland Subsidiary 3287010-7 100
\nKoy Helsingin Kr\u00e4mertintie
\nFinland
\nSubsidiary
\n3323987-8
\n100
\nKoy Helsingin Kutomokuja
\nFinland
\nSubsidiary
\n3287009-4
\n100
\nKoy Helsingin L\u00e4hdepolku
\nFinland
\nSubsidiary
\n3279404-4
\n100
\nKoy Helsingin Landbontie
\nFinland
\nSubsidiary
\n3270229-3
\n100
\nKoy Helsingin Pakarituvantie
\nFinland
\nSubsidiary
\n3131782-8
\n100
\nKoy Helsingin Radiokatu
\nFinland
\nSubsidiary
\n3270230-6
\n100
\nKoy Helsingin Ty\u00f6njohtajankadun Sepp\u00e43
\nFinland
\nSubsidiary
\n3009977-7
\n100
\nKoy Hollolan Kulmalantie 2 Finland Subsidiary 3354537-3 100
\nKoy Hollolan Sarkatie
\nFinland
\nSubsidiary
\n2749865\u20104
\n100
\nKoy Iisalmen Etel\u00e4inen Puistoraitti
\nFinland
\nSubsidiary
\n2840090\u20103
\n100
\nKoy Iisalmen Kangaslammintie
\nFinland
\nSubsidiary
\n2826102\u20106
\n100
\nKoy Iisalmen Petter Kumpulaisentie
\nFinland
\nSubsidiary
\n2882785\u20101
\n100
\nKoy Iisalmen Satamakatu
\nFinland
\nSubsidiary
\n3005776-1
\n100
\nKoy Iisalmen Vemmelkuja
\nFinland
\nSubsidiary
\n2917923\u20105
\n100
\nKoy Janakkalan Kekanahontie
\nFinland
\nSubsidiary
\n2911674\u20104
\n100
\nKoy J\u00e4rvenp\u00e4\u00e4n Auertie Finland Subsidiary 3279405-2 100
\nKoy J\u00e4rvenp\u00e4\u00e4n Yliopettajankatu
\nFinland
\nSubsidiary
\n2774063-1
\n100
\nKoy Jyv\u00e4skyl\u00e4n Ailakinkatu
\nFinland
\nSubsidiary
\n2932895\u20108
\n100
\nKoy Jyv\u00e4skyl\u00e4n Haperontie
\nFinland
\nSubsidiary
\n2763296\u20104
\n100
\nKoy Jyv\u00e4skyl\u00e4n Harjutie
\nFinland
\nSubsidiary
\n3172893-4
\n100
\nKoy Jyv\u00e4skyl\u00e4n Haukankaari
\nFinland
\nSubsidiary
\n3174128-2
\n100
\nKoy Jyv\u00e4skyl\u00e4n Mannisenm\u00e4entie
\nFinland
\nSubsidiary
\n2816983\u20106
\n100
\nKoy Jyv\u00e4skyl\u00e4n Martikaisentie
\nFinland
\nSubsidiary
\n2575556-5
\n100
\nKoy Jyv\u00e4skyl\u00e4n Palstatie Finland Subsidiary 2923254\u20102 100
\nKoy Jyv\u00e4skyl\u00e4n Sulkulantie
\nFinland
\nSubsidiary
\n2850306-4
\n100
\nKoy Jyv\u00e4skyl\u00e4n V\u00e4liharjuntie
\nFinland
\nSubsidiary
\n2639227\u20106
\n100
\nKoy Jyv\u00e4skyl\u00e4n V\u00e4vypojanpolku
\nFinland
\nSubsidiary
\n2960547\u20106
\n100
\nKoy Kaarinan Nurminiitynkatu
\nFinland
\nSubsidiary
\n2838030\u20108
\n100
\nKoy Kajaanin Er\u00e4tie
\nFinland
\nSubsidiary
\n2749663\u20102
\n100
\nKoy Kajaanin Hoikankatu
\nFinland
\nSubsidiary
\n2951667\u20106
\n100
\nKoy Kajaanin Mennink\u00e4isentie
\nFinland
\nSubsidiary
\n2681416\u20108
\n100
\nKoy Kajaanin Uitontie
\nFinland
\nSubsidiary
\n3164208-1
\n100
\nKoy Kangasalan Hilmanhovi Finland Subsidiary 2262908\u20108 100
\nKoy Kangasalan M\u00e4ntyver\u00e4j\u00e4ntie
\nFinland
\nSubsidiary
\n2688361\u20104
\n100
\nKoy Kangasalan Reki\u00e4l\u00e4ntie
\nFinland
\nSubsidiary
\n2940754-1
\n100
\nKoy Kaskisten Bladintie
\nFinland
\nSubsidiary
\n2224949-9
\n100
\nKoy Kempeleen Ihmemaantie
\nFinland
\nSubsidiary
\n3112115-5
\n100
\nKoy Keravan Lehmuskatu
\nFinland
\nSubsidiary
\n3256470-8
\n100
\nKoy Keravan M\u00e4nnik\u00f6ntie
\nFinland
\nSubsidiary
\n2774061\u20105
\n100
\nKoy Keravan Pianosoittajankatu
\nFinland
\nSubsidiary
\n3368773-4
\n100
\nKoy Keuruun Tehtaantie Finland Subsidiary 2877302\u20101 100
\nKoy Kirkkonummen Kotitontunkuja
\nFinland
\nSubsidiary
\n2692080\u20109
\n100
\nKoy Kokkola Kruunupyyntie
\nFinland
\nSubsidiary
\n3349210-1
\n100
\nKoy Kokkolan Ankkurikuja
\nFinland
\nSubsidiary
\n2955766\u20102
\n100
\nKoy Kokkolan Kaarlelankatu 68
\nFinland
\nSubsidiary
\n2668743-7
\n100
\nKoy Kokkolan Vanha Ouluntie
\nFinland
\nSubsidiary
\n2771913\u20108
\n100
\nNAME Country Category Register of
\ncorporations
\nCapital held
\n(in %)
\nKoy Kotkan Mets\u00e4kulmankatu 21
\nFinland
\nSubsidiary
\n2225111-8
\n100
\nKoy Kotkan S\u00e4rm\u00e4\u00e4j\u00e4nkatu 6
\nFinland
\nSubsidiary
\n3169793-9
\n100
\nKoy Kouvolan Kaartokuja Finland Subsidiary 2697590\u20106 100
\nKoy Kouvolan Rannikkotie
\nFinland
\nSubsidiary
\n2941695-8
\n100
\nKoy Kouvolan Ruskeasuonkatu
\nFinland
\nSubsidiary
\n2955751-5
\n100
\nKoy Kouvolan Vainiolankuja
\nFinland
\nSubsidiary
\n3134903-7
\n100
\nKoy Kouvolan Vinttikaivontie
\nFinland
\nSubsidiary
\n2543325\u20109
\n100
\nKoy Kuopion Amerikanraitti 10
\nFinland
\nSubsidiary
\n2837113\u20107
\n100
\nKoy Kuopion M\u00e4nnist\u00f6nkatu
\nFinland
\nSubsidiary
\n3127190-3
\n100
\nKoy Kuopion Opistokuja 3
\nFinland
\nSubsidiary
\n3176660-7
\n100
\nKoy Kuopion Pirtinkaari Finland Subsidiary 2873993-1 100
\nKoy Kuopion Portti A2
\nFinland
\nSubsidiary
\n2874104-6
\n100
\nKoy Kuopion Rantaraitti
\nFinland
\nSubsidiary
\n2770280\u20103
\n100
\nKoy Kuopion Sipulikatu
\nFinland
\nSubsidiary
\n2509836\u20106
\n100
\nKoy Kuopion Torpankatu
\nFinland
\nSubsidiary
\n3338477-6
\n100
\nKoy Lahden Jahtikatu
\nFinland
\nSubsidiary
\n2861249\u20108
\n100
\nKoy Lahden Kurenniityntie
\nFinland
\nSubsidiary
\n3008794-4
\n100
\nKoy Lahden Makarantie
\nFinland
\nSubsidiary
\n2988683-7
\n100
\nKoy Lahden Piisamikatu Finland Subsidiary 2861251\u20109 100
\nKoy Lahden Vallesmanninkatu A
\nFinland
\nSubsidiary
\n2675831\u20101
\n100
\nKoy Lahden Vallesmanninkatu B
\nFinland
\nSubsidiary
\n2675827\u20104
\n100
\nKoy Laihian Jarrumiehentie
\nFinland
\nSubsidiary
\n2798400\u20103
\n100
\nKoy Lappeenrannan Orioninkatu
\nFinland
\nSubsidiary
\n2877591\u20106
\n100
\nKoy Laukaan Hyt\u00f6senkuja
\nFinland
\nSubsidiary
\n2681456\u20103
\n100
\nKoy Laukaan Peurungantie
\nFinland
\nSubsidiary
\n2821700-9
\n100
\nKoy Laukaan Saratie
\nFinland
\nSubsidiary
\n2896187\u20104
\n100
\nKoy Lemp\u00e4\u00e4l\u00e4n Tampereentie Finland Subsidiary 3266246-3 100
\nKoy Limingan Kauppakaari
\nFinland
\nSubsidiary
\n2553773\u20106
\n100
\nKoy Limingan Saunarannantie
\nFinland
\nSubsidiary
\n3267223-1
\n100
\nKoy Lohjan Ansatie
\nFinland
\nSubsidiary
\n2768296\u20101
\n100
\nKoy Lohjan Porapojankuja
\nFinland
\nSubsidiary
\n3130512-2
\n100
\nKoy Lohjan Sahapiha
\nFinland
\nSubsidiary
\n3132701-4
\n100
\nKoy Loimaan Itsen\u00e4isyydenkatu
\nFinland
\nSubsidiary
\n2887703-1
\n100
\nKoy Loviisan Mannerheiminkatu
\nFinland
\nSubsidiary
\n2648698\u20105
\n100
\nKoy M\u00e4nts\u00e4l\u00e4n Liedontie
\nFinland
\nSubsidiary
\n2505670\u20105
\n100
\nKoy M\u00e4ntyharjun L\u00e4\u00e4k\u00e4rinkuja Finland Subsidiary 2761813\u20104 100
\nKoy Maskun Ruskontie
\nFinland
\nSubsidiary
\n2610017\u20103
\n100
\nKoy Mikkelin Kastanjakuja
\nFinland
\nSubsidiary
\n2915481-2
\n100
\nKoy Mikkelin Sahalantie
\nFinland
\nSubsidiary
\n3004499-5
\n100
\nKoy Mikkelin V\u00e4\u00e4n\u00e4senpolku
\nFinland
\nSubsidiary
\n2864738\u20103
\n100
\nKoy Mikkelin Yl\u00e4nnetie 8
\nFinland
\nSubsidiary
\n2839320\u20105
\n100
\nKoy Myn\u00e4m\u00e4en Opintie
\nFinland
\nSubsidiary
\n2957425\u20101
\n100
\nKoy Nokian Kivimiehenkatu 4
\nFinland
\nSubsidiary
\n1056103-9
\n100
\nKoy Nokian Luhtatie Finland Subsidiary 2882228-4 100
\nKoy Nokian N\u00e4si\u00e4katu
\nFinland
\nSubsidiary
\n2772561\u20108
\n100
\nKoy Nokian T\u00e4htisumunkatu
\nFinland
\nSubsidiary
\n3328037-9
\n100
\nKoy Nokian Vikkulankatu
\nFinland
\nSubsidiary
\n2720339\u20103
\n100
\nKoy Nurmij\u00e4rven Laidunalue
\nFinland
\nSubsidiary
\n2415548\u20108
\n100
\nKoy Nurmij\u00e4rven Luhtavillantie
\nFinland
\nSubsidiary
\n3202629-9
\n100
\n
\n\n\nNAME Country Category Register of
\ncorporations
\nCapital held
\n(in %)
\nKoy Nurmij\u00e4rven Ratakuja
\nFinland
\nSubsidiary
\n2807462\u20106
\n100
\nKoy Orimattilan Suppulanpolku
\nFinland
\nSubsidiary
\n2750819\u20107
\n100
\nKoy Oulun Isopurjeentie 3 Finland Subsidiary 2255743-2 100
\nKoy Oulun Jahtivoudintie
\nFinland
\nSubsidiary
\n2759228-8
\n100
\nKoy Oulun Juhlamarssi
\nFinland
\nSubsidiary
\n3217953-5
\n100
\nKoy Oulun M\u00e4ntypellonpolku
\nFinland
\nSubsidiary
\n3182688-4
\n100
\nKoy Oulun Raamipolku
\nFinland
\nSubsidiary
\n2798361-7
\n100
\nKoy Oulun Ruismets\u00e4
\nFinland
\nSubsidiary
\n3008792-8
\n100
\nKoy Oulun Salonp\u00e4\u00e4n koulu
\nFinland
\nSubsidiary
\n3100847-8
\n100
\nKoy Oulun Sarvisuontie
\nFinland
\nSubsidiary
\n2899591\u20109
\n100
\nKoy Oulun Siilotie Finland Subsidiary 3006511-2 100
\nKoy Oulun Siilotie K21 A
\nFinland
\nSubsidiary
\n3311639-2
\n100
\nKoy Oulun Siilotie K21 B
\nFinland
\nSubsidiary
\n3311641-3
\n100
\nKoy Oulun Siilotie K21 C
\nFinland
\nSubsidiary
\n3311642-1
\n100
\nKoy Oulun Soittajanlenkki
\nFinland
\nSubsidiary
\n2920514-9
\n100
\nKoy Oulun Tahtimarssi
\nFinland
\nSubsidiary
\n3331416-1
\n100
\nKoy Oulun Ukkoherrantie A
\nFinland
\nSubsidiary
\n3141465-2
\n100
\nKoy Oulun Ukkoherrantie B
\nFinland
\nSubsidiary
\n2781801\u20103
\n100
\nKoy Oulun Upseerinkatu Finland Subsidiary 3302679-2 100
\nKoy Oulun Vaaranpiha
\nFinland
\nSubsidiary
\n3146139-5
\n100
\nKoy Oulun Valjastie
\nFinland
\nSubsidiary
\n3139840-2
\n100
\nKoy Oulun Villa Sulka
\nFinland
\nSubsidiary
\n2695880-7
\n100
\nKoy Oulun Vihannestie
\nFinland
\nSubsidiary
\n3127183-1
\n100
\nKoy Paimion M\u00e4kil\u00e4ntie
\nFinland
\nSubsidiary
\n2853714\u20101
\n100
\nKoy Pateniemenranta
\nFinland
\nSubsidiary
\n2930852-7
\n100
\nKoy Pieks\u00e4m\u00e4en Ruustinnantie
\nFinland
\nSubsidiary
\n2903250-8
\n100
\nKoy Pihtiputaan Nurmelanpolku Finland Subsidiary 2860057\u20107 100
\nKoy Pirkkalan Lehtim\u00e4entie
\nFinland
\nSubsidiary
\n2593596\u20101
\n100
\nKoy Pirkkalan Perensaarentie
\nFinland
\nSubsidiary
\n2808085\u20108
\n100
\nKoy Porin Kerhotie 1
\nFinland
\nSubsidiary
\n3145625-4
\n100
\nKoy Porin Koekatu
\nFinland
\nSubsidiary
\n2835076\u20106
\n100
\nKoy Porin Ojantie
\nFinland
\nSubsidiary
\n2625961\u20109
\n100
\nKoy Porvoon Fredrika Runebergin katu
\nFinland
\nSubsidiary
\n2760328\u20102
\n100
\nKoy Porvoon Haarap\u00e4\u00e4skyntie
\nFinland
\nSubsidiary
\n2951666\u20108
\n100
\nKoy Porvoon Peippolankuja
\nFinland
\nSubsidiary
\n2588814\u20109
\n100
\nKoy Porvoon Vanha Kuninkaantie Finland Subsidiary 2746305\u20106 100
\nKoy Raahen Kirkkokatu
\nFinland
\nSubsidiary
\n3143874-2
\n100
\nKoy Raahen Palokunnanhovi
\nFinland
\nSubsidiary
\n2326426\u20100
\n100
\nKoy Raahen Vihastenkarinkatu
\nFinland
\nSubsidiary
\n2917887-3
\n100
\nKoy Raision Tenavakatu
\nFinland
\nSubsidiary
\n2553772\u20108
\n100
\nKoy Riihim\u00e4en Jyr\u00e4tie
\nFinland
\nSubsidiary
\n2956737-7
\n100
\nKoy Rovaniemen Gardininkuja
\nFinland
\nSubsidiary
\n3100848-6
\n100
\nKoy Rovaniemen Koulukaari
\nFinland
\nSubsidiary
\n3239963-4
\n100
\nKoy Rovaniemen M\u00e4kiranta Finland Subsidiary 2994385-4 100
\nKoy Rovaniemen Matkavaarantie
\nFinland
\nSubsidiary
\n2838821\u20101
\n100
\nKoy Rovaniemen Muonakuja
\nFinland
\nSubsidiary
\n3110312-5
\n100
\nKoy Rovaniemen Rakkakiventie
\nFinland
\nSubsidiary
\n2865638-6
\n100
\nKoy Rovaniemen Ritarinne
\nFinland
\nSubsidiary
\n2754616\u20109
\n100
\nKoy Rovaniemen Santam\u00e4entie
\nFinland
\nSubsidiary
\n3008789-9
\n100
\nNAME Country Category Register of
\ncorporations
\nCapital held
\n(in %)
\nKoy Ruskon P\u00e4\u00e4llist\u00f6nm\u00e4entie
\nFinland
\nSubsidiary
\n2789540\u20106
\n100
\nKoy Salon Linnankoskentie
\nFinland
\nSubsidiary
\n3330201-3
\n100
\nKoy Salon Papinkuja Finland Subsidiary 3155224-6 100
\nKoy Siilinj\u00e4rven Nilsi\u00e4ntie
\nFinland
\nSubsidiary
\n2934834\u20102
\n100
\nKoy Siilinj\u00e4rven Risulantie
\nFinland
\nSubsidiary
\n2854061\u20105
\n100
\nKoy Siilinj\u00e4rven Sinisiipi
\nFinland
\nSubsidiary
\n2479104\u20106
\n100
\nKoy Sipoon Aarrepuistonkuja
\nFinland
\nSubsidiary
\n2878144\u20103
\n100
\nKoy Sipoon Aarretie
\nFinland
\nSubsidiary
\n2870619\u20105
\n100
\nKoy Sotkamon H\u00e4rk\u00f6kivenkatu
\nFinland
\nSubsidiary
\n3314858-9
\n100
\nKoy Sotkamon Kirkkotie
\nFinland
\nSubsidiary
\n2917890\u20102
\n100
\nKoy Tampereen Haiharansuu Finland Subsidiary 3192647-1 100
\nKoy Tampereen Lent\u00e4v\u00e4nniemenkatu
\nFinland
\nSubsidiary
\n2648697\u20107
\n100
\nKoy Tampereen Sisunaukio
\nFinland
\nSubsidiary
\n2355346-8
\n100
\nKoy Tampereen Ter\u00e4skatu
\nFinland
\nSubsidiary
\n3284989-3
\n100
\nKoy Teuvan Tuokkolantie 14
\nFinland
\nSubsidiary
\n2225109-7
\n100
\nKoy Tornion Torpin Rinnakkaiskatu
\nFinland
\nSubsidiary
\n2816984\u20104
\n100
\nKoy Turun Lemmontie
\nFinland
\nSubsidiary
\n2551472-9
\n100
\nKoy Turun Lukkosep\u00e4nkatu
\nFinland
\nSubsidiary
\n2842686\u20103
\n100
\nKoy Turun Malin Tr\u00e4llinkuja Finland Subsidiary 3171440-1 100
\nKoy Turun Paltankatu
\nFinland
\nSubsidiary
\n2845199\u20107
\n100
\nKoy Turun Teollisuuskatu
\nFinland
\nSubsidiary
\n2729980\u20107
\n100
\nKoy Turun V\u00e4h\u00e4heikkil\u00e4ntie
\nFinland
\nSubsidiary
\n2660277\u20101
\n100
\nKoy Turun Vakiniituntie
\nFinland
\nSubsidiary
\n2648689\u20107
\n100
\nKoy Tuusulan Isokarhunkierto
\nFinland
\nSubsidiary
\n3005414-9
\n100
\nKoy Tuusulan Temmontie
\nFinland
\nSubsidiary
\n3325587-8
\n100
\nKoy Ulvilan Kulmalantie
\nFinland
\nSubsidiary
\n2966954-1
\n100
\nKoy Uudenkaupungin Merilinnuntie Finland Subsidiary 2878831\u20101 100
\nKoy Uudenkaupungin Merimetsopolku B
\nFinland
\nSubsidiary
\n2798800\u20104
\n100
\nKoy Uudenkaupungin Merimetsopolku C
\nFinland
\nSubsidiary
\n2797654\u20108
\n100
\nKoy Uudenkaupungin Puusep\u00e4nkatu
\nFinland
\nSubsidiary
\n2766340\u20102
\n100
\nKoy Vaasan M\u00e4kikaivontie 22
\nFinland
\nSubsidiary
\n1743075-2
\n100
\nKoy Vaasan Tehokatu 10
\nFinland
\nSubsidiary
\n2246849-9
\n100
\nKoy Vaasan Uusmets\u00e4ntie
\nFinland
\nSubsidiary
\n3000725-4
\n100
\nKoy Vaasan Vanhan Vaasankatu
\nFinland
\nSubsidiary
\n2882784\u20103
\n100
\nKoy Valkeakosken Juusontie
\nFinland
\nSubsidiary
\n3244769-1
\n100
\nKoy Vantaan Asolantie 14 Finland Subsidiary 2319120-9 100
\nKoy Vantaan Haravakuja
\nFinland
\nSubsidiary
\n3331473-5
\n100
\nKoy Vantaan Koetilankatu
\nFinland
\nSubsidiary
\n2656382\u20101
\n100
\nKoy Vantaan Koivukyl\u00e4n Puistotie
\nFinland
\nSubsidiary
\n2933844\u20103
\n100
\nKoy Vantaan Mesikukantie
\nFinland
\nSubsidiary
\n2755333\u20104
\n100
\nKoy Vantaan Punakiventie
\nFinland
\nSubsidiary
\n2675834\u20106
\n100
\nKoy Vantaan Tuovintie
\nFinland
\nSubsidiary
\n2711240\u20108
\n100
\nKoy Vantaan Vuohirinne
\nFinland
\nSubsidiary
\n2691248\u20109
\n100
\nKoy Vihdin Hiidenrannantie Finland Subsidiary 2616455\u20106 100
\nKoy Vihdin Vanhan sep\u00e4ntie
\nFinland
\nSubsidiary
\n2625959\u20108
\n100
\nKoy Ylivieskan Mikontie 1
\nFinland
\nSubsidiary
\n2850860\u20107
\n100
\nKoy Ylivieskan Ratakatu 12
\nFinland
\nSubsidiary
\n2850859\u20104
\n100
\nKoy Yl\u00f6j\u00e4rven Ty\u00f6v\u00e4entalontie
\nFinland
\nSubsidiary
\n2690219\u20102
\n100
\nMajakka Kiinteist\u00f6t Oy
\nFinland
\nSubsidiary
\n2760856-9
\n100
\n
\n\n\nNAME Country Category Register of
\ncorporations
\nCapital held
\n(in %)
\nHoivatilat AB
\nSweden \u2079
\nSubsidiary
\n559169-2461
\n100
\nHoivatilat Holding AB
\nSweden
\nSubsidiary
\n559192-8311
\n100
\nHoivatilat Holding 2 AB Sweden Subsidiary 559204-7426 100
\nHoivatilat Holding 3 AB
\nSweden
\nSubsidiary
\n559296-1519
\n100
\nHoivatilat Holding 4 AB
\nSweden
\nSubsidiary
\n559301-4979
\n100
\nHoivatilat Holding 5 AB
\nSweden
\nSubsidiary
\n559318-8286
\n100
\n\u00c4lmhult Kunskapsgatan AB
\nSweden
\nSubsidiary
\n559149-1732
\n100
\nEnk\u00f6ping H\u00e4sslinge LSS boende AB
\nSweden
\nSubsidiary
\n559152-2247
\n100
\nFanna 24:19 AB
\nSweden
\nSubsidiary
\n559252-4788
\n100
\nF\u00f6rskola Kalleberga AB
\nSweden
\nSubsidiary
\n559204-7392
\n100
\nF\u00f6rskola Mesta 6:56 AB Sweden Subsidiary 559195-0570 100
\nGr\u00e5munkeh\u00f6ga LSS boende AB
\nSweden
\nSubsidiary
\n559131-8877
\n100
\nHeby LSS boende AB
\nSweden
\nSubsidiary
\n559073-5634
\n100
\nHoivatilat Projekt 1 AB
\nSweden
\nSubsidiary
\n559376-5968
\n100
\nHuddinge Svartviksv\u00e4gen F\u00f6rskola AB
\nSweden
\nSubsidiary
\n559283-2595
\n100
\nLaholm Nyby LSS boende AB
\nSweden
\nSubsidiary
\n559149-6335
\n100
\nLiding\u00f6 Islinge F\u00f6rskola AB
\nSweden
\nSubsidiary
\n559376-5935
\n100
\nNorrt\u00e4lje \u00d6sthamra F\u00f6rskola AB
\nSweden
\nSubsidiary
\n559180-2078
\n100
\nNyk\u00f6ping Anderb\u00e4ck LSS boende AB Sweden Subsidiary 559150-0979 100
\nNyk\u00f6ping Bergshammar LSS boende AB
\nSweden
\nSubsidiary
\n559205-6872
\n100
\nNyn\u00e4shamn Skola Sittesta AB
\nSweden
\nSubsidiary
\n559087-5604
\n100
\n\u00d6rebro Hovsta Gryt LSS boende AB
\nSweden
\nSubsidiary
\n559152-7147
\n100
\n\u00d6rebro T\u00f6rsj\u00f6 LSS boende AB
\nSweden
\nSubsidiary
\n559163-1931
\n100
\nOskarshamn Emmekalv LSS boende AB
\nSweden
\nSubsidiary
\n559163-3788
\n100
\n\u00d6ster\u00e5ker Sing\u00f6 LSS boende AB
\nSweden
\nSubsidiary
\n559196-9786
\n100
\nStaffanstorp Borgg\u00e5rd 1:553 AB
\nSweden
\nSubsidiary
\n559346-7144
\n100
\nStr\u00e4ngn\u00e4s Biv\u00e4gen AB Sweden Subsidiary 559232-8685 100
\nTierp LSS boende AB
\nSweden
\nSubsidiary
\n559218-2876
\n100
\nUpplands V\u00e4sby Havregatan F\u00f6rskola AB
\nSweden
\nSubsidiary
\n559234-9079
\n100
\nUppsala Almungeberg 1 LSS boende AB
\nSweden
\nSubsidiary
\n559131-1468
\n100
\nUppsala Almungeberg 2 LSS boende AB
\nSweden
\nSubsidiary
\n559150-0938
\n100
\nUppsala B\u00e4linge L\u00f6vsta1 LSS boende AB
\nSweden
\nSubsidiary
\n556908-5391
\n100
\nUppsala B\u00e4linge L\u00f6vsta2 LSS boende AB
\nSweden
\nSubsidiary
\n556864-9460
\n100
\nUppsala Norby LSS boende AB
\nSweden
\nSubsidiary
\n559376-5976
\n100
\nUppsala Sunnersta LSS boende AB
\nSweden
\nSubsidiary
\n556900-2024
\n100
\nVallentuna V\u00e4stlunda LSS boende AB Sweden Subsidiary 559152-7139 100
\nV\u00e4xj\u00f6 LSS boende AB
\nSweden
\nSubsidiary
\n559190-6267
\n100
\nAedifica Ireland Ltd
\nIreland \u00b9\u2070
\nSubsidiary
\n683400
\n100
\nEdge Fusion Ltd
\nIreland
\nSubsidiary
\n614415
\n100
\nEnthree Ltd
\nIreland
\nSubsidiary
\n683028
\n100
\nJKP Nursing Home Ltd
\nIreland
\nSubsidiary
\n483964
\n100
\nMillennial Generation Ltd
\nIreland
\nSubsidiary
\n607665
\n100
\nPrudent Capital Ltd
\nIreland
\nSubsidiary
\n562309
\n100
\nSolcrea Ltd Ireland Subsidiary 614470 100
\nAED RE Espana 1 SLU
\nSpain \u00b9\u00b9
\nSubsidiary
\nB16839649
\n100
\nAED RE Espana 2 SLU
\nSpain
\nSubsidiary
\nB91643411
\n100
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n1. With the exception of Immobe NV (located at Avenue Louise 331 in 1050 Brussels (Belgium)), all Belgian companies
\nare located at Rue Belliard 40 box 11 in 1040 Brussels (Belgium).
\n2. All German companies are located at Gervinusstra\u00dfe 15-17 in 60322 Frankfurt am Main (Germany).
\n3. All Luxembourg companies are located at rue Guillaume J. Kroll 12 C in 1882 Luxembourg (Luxembourg).
\n4. All Dutch companies are located at Amstelplein 54, 1096 BC Amsterdam (Netherlands).
\n5. All Jersey companies are located at 47 Esplanade in St. Helier JE1 0BD (Jersey).
\n6. All UK companies are located at 13 Hanover Square, London, England, W1S 1HN (United Kingdom).
\n7. All UK JO companies are located Westcourt, Gelderd Road, Leeds, England, LS12 6DB (United Kingdom).
\n8. All Finnish companies are located at Kasarmintie 21, 90130 Oulu (Finland).
\n9. All Swedish companies are located at Sv\u00e4rdv\u00e4gen 21, 18233 Danderyd (Sweden).
\n10. All Irish companies are located at 29 Earlsfort Terrace, Dublin 2, Ireland D02 AY28 (Ireland).
\n11. All Spanish companies are located at Travessera de Gr\u00e0cia 11, 5\u00aa pl., 08021 Barcelona (Spain).
\n12. The residual 75% is held by an investor that is unrelated to Aedifica.
\n13. The residual 6% is held by an investor that is unrelated to Aedifica.
\n14. The residual 50% is held by a partner that is unrelated to Aedifica.
\n15. The residual 25% is held by a partner that is unrelated to Aedifica.
\n
\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfJointVenturesExplanatory",
"language": "en",
"entity": "scheme:529900DTKNXL0AXQFN28",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag706": {
"value": "\nNote 41: Belgian RREC status
\n
\n(x \u20ac1,000)
\n
\n31/12/2023
\n31/12/2022
\nConsolidated debt-to-assets ratio (max. 65%)
\n
\n
\n
\n
\nNon-current financial debts
\n
\n1,958,750
\n2,017,256
\nOther non-current financial liabilities (except for hedging instruments)
\n+
\n81,183
\n78,374
\nTrade debts and other non-current debts
\n+
\n250
\n375
\nCurrent financial debts
\n+
\n321,549
\n435,164
\nOther current financial liabilities (except for hedging instruments)
\n+
\n2,798
\n3,487
\nTrade debts and other current debts
\n+
\n57,177
\n66,853
\nTotal liabilities according to the Royal Decree of 13 July 2014
\n=
\n2,421,707
\n2,601,509
\n
\nTotal assets
\n
\n6,176,811
\n6,085,540
\nHedging instruments
\n-
\n-73,924
\n-123,219
\nTotal assets according to the Royal Decree of 13 July 2014
\n=
\n6,102,887
\n5,962,321
\n
\n
\n
\n
\nDebt-to-assets ratio (in %)
\n
\n39.68%
\n43.63%
\nAdditional debt capacity - debt ratio at 60%
\n
\n1,240,025
\n975,884
\nAdditional debt capacity - debt ratio at 65%
\n
\n1,545,170
\n1,274,000
\n
\nProhibition to invest more than 20% of assets in real estate assets that form a single
\nproperty
\nAt 31 December 2023, the largest group of assets operated by the same tenant represents 10% of the
\nconsolidated group assets and is operated by Clariane (formerly known as the Korian group).
\nValuation of investment properties by a valuation expert
\nAedifica\u2019s properties are valued quarterly by the following independent valuation experts: Cushman &
\nWakefield Belgium NV/SA, Stadim BV/SRL, Savills Advisory Services Germany GmbH & Co. KG, C&W (U.K.)
\nLLP German Branch, Cushman & Wakefield Netherlands BV, CBRE Valuation & Advisory Services BV, Knight
\nFrank LLP, REnium Advisors Oy, Cushman & Wakefield Sweden AB, CBRE Advisory (IRL) Limited and Jones
\nLang LaSalle Espa\u00f1a SA.
\n
\n\n",
"dimensions": {
"concept": "aed:DisclosureOfBelgianRegulatedRealEstateCompanyStatusExplanatory",
"language": "en",
"entity": "scheme:529900DTKNXL0AXQFN28",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag707": {
"value": "\nNote 42: Fair value
\nIn accordance with IFRS 13, balance sheet elements for which the fair value can be computed are presented
\nand broken down as follows:
\n(x \u20ac1,000)
\n
\n
\n31/12/2023
\n31/12/2022
\nCategory
\nLevel
\nBook value
\nFair value
\nBook value
\nFair value
\nNon-current assets
\nNon-current financial assets
\n
\n
\n98,665
\n98,665
\n132,322
\n132,322
\na. Hedges
\nC
\n2
\n73,924
\n73,924
\n123,219
\n123,219
\nb. Other
\nA
\n2
\n24,741
\n24,741
\n9,103
\n9,103
\nEquity-accounted
\ninvestments
\nC
\n2
\n35,985
\n35,985
\n40,824
\n40,824
\nCurrent assets
\n
\n
\n
\n
\n
\n
\nTrade receivables
\nA
\n2
\n23,290
\n23,290
\n23,577
\n23,577
\nTax receivables & other
\ncurrent assets
\nA 2 9,384 9,384 10,273 10,273
\nCash and cash equivalents
\nA
\n1
\n18,253
\n18,253
\n13,891
\n13,891
\nNon-current liabilities
\n
\n
\n
\n
\n
\n
\nNon-current financial debts
\nA
\n2
\n-1,958,750
\n-1,830,018
\n-2,017,256
\n-1,811,083
\nOther non-current financial
\nliabilities
\n
\n
\n
\n
\n
\n
\na. Authorised hedges
\nC
\n2
\n-9,760
\n-9,760
\n-3,858
\n-3,858
\nb. Other A 2 -81,183 -81,183 -78,374 -78,374
\nTrade debts and other non-
\ncurrent debts
\nA
\n2
\n-251
\n-251
\n-375
\n-375
\nCurrent liabilities
\n
\n
\n
\n
\n
\n
\nCurrent financial debts
\nA
\n2
\n-321,549
\n-321,549
\n-435,164
\n-435,164
\nTrade debts & other current
\ndebts
\nA
\n2
\n-57,177
\n-57,177
\n-66,853
\n-66,853
\nOther current financial
\nliabilities
\nA 2 -2,798 -2,798 -3,487 -3,487
\n
\nThese categories follow the classification specified by IFRS 9:
\n\u2022 category A: financial assets or liabilities (including accounts receivable & loans) carried at amortised
\ncost;
\n\u2022 category B: assets or liabilities recognised at fair value through net income;
\n\u2022 category C: assets or liabilities that must be measured at fair value through the net income.
\nAuthorised hedging instruments belong to category C, except for hedging instruments that meet the
\nrequirements of hedge accounting (see IFRS 9), where changes in fair value are recognised in equity.
\n
\n
\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFairValueMeasurementExplanatory",
"language": "en",
"entity": "scheme:529900DTKNXL0AXQFN28",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag708": {
"value": "\nNote 43: Put options granted to non-controlling shareholders
\nThe Company has committed to acquire the non-controlling shareholdings (6% of the share capital) owned
\nby third parties in Aedifica.
\nLuxemburg I SCS, Aedifica Luxemburg II SCS, Aedifica Luxemburg III SCS, Aedifica Luxemburg IV SCS,
\nAedifica Luxemburg V SCS, Aedifica Luxemburg VI SCS and Aedifica Residenzen Nord GmbH & Co KG,
\nshould these third parties wish to exercise their put options. The exercise price of such options granted to
\nnon-controlling interest is reflected on the liability side of balance sheet on line \u2018I.C.b. Other non-current
\nfinancial liabilities \u2013 Other\u2019 (see Notes 16 and 24).
\n
\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfNoncontrollingInterestsExplanatory",
"language": "en",
"entity": "scheme:529900DTKNXL0AXQFN28",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag709": {
"value": "\nNote 44: Alternative Performance Measures (APMs)
\nFor many years, Aedifica has been using Alternative Performance Measures in its financial communications
\nbased on ESMA (European Securities and Market Authority) guidelines published on 5 October 2015. Some
\nof these APMs are recommended by the European Public Real Estate Association (EPRA) while others have
\nbeen defined by the industry or by Aedifica; the aim is to provide readers with a better understanding of the
\nCompany\u2019s results and performance. The APMs used in this annual report are identified with an asterisk (*).
\nThe performance measures which are defined by IFRS standards or by Law are not considered as APMs, nor
\nare those which are not based on the consolidated income statement or the balance sheet. The APMs are
\ndefined, annotated and connected with the most relevant line, total or subtotal of the financial statements.
\nThe definition of the APMs, as applied to Aedifica\u2019s financial statements, may differ from those used in the
\nfinancial statements of other companies
\n
\nNote 44.1: Investment properties
\nAedifica uses the performance measures presented below to determine the value of its investment properties;
\nhowever, these measures are not defined under IFRS. They reflect alternate clustering of investment
\nproperties with the aim of providing the reader with the most relevant information.
\n(x \u20ac1,000)
\n31/12/2023
\n31/12/2022
\nMarketable investment properties 5,529,564 5,365,071
\n+ Right of use of plots of land
\n73,172
\n70,335
\n+ Development projects
\n168,950
\n184,295
\n+ Land reserve
\n18,671
\n-
\nInvestment properties
\n5,790,357
\n5,619,701
\n+ Assets classified as held for sale
\n58,158
\n84,033
\nInvestment properties including assets classified as held for sale*, or
\nreal estate portfolio*
\n5,848,515
\n5,703,734
\n- Development projects
\n-168,950
\n-184,295
\nMarketable investment properties including assets classified as held
\nfor sale*, or investment properties portfolio
\n5,679,565 5,519,439
\n
\n
\nNote 44.2: Rental income on a like-for-like basis*
\nAedifica uses the net rental income on a like-for-like basis* to reflect the performance of investment properties
\nexcluding the effect of scope changes.
\n(x \u20ac1,000)
\n01/01/2023 -
\n31/12/2023
\n01/01/2022 -
\n31/12/2022
\nRental income
\n314,174
\n273,132
\n- Scope changes
\n-36,939
\n-9,546
\n= Rental income on a like-for-like basis*
\n277,235
\n263,586
\n
\n\n\nNote 44.3: Operating charges*, operating margin* and EBIT margin*
\nAedifica uses operating charges* to aggregate the operating charges*. It represents items IV. to XV. of the
\nincome statement.
\nAedifica uses the operating margin* and the EBIT margin* to reflect the profitability of its rental activities. They
\nrepresent the property operating result divided by net rental income and the operating result before result on
\nportfolio divided by net rental income, respectively.
\n
\n31/12/2023
\n(x \u20ac1,000)
\nBE
\nDE
\nNL
\nUK
\nFI
\nSE
\nIE
\nES
\nNon-allocated
\nTOTAL
\nSEGMENT RESULT
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nRental income (a)
\n73,250
\n61,160
\n38,203
\n64,793
\n54,269
\n4,226
\n18,006
\n267
\n-
\n314,174
\nNet rental income (b)
\n72,700
\n60,969
\n38,186
\n64,439
\n54,247
\n4,226
\n18,006
\n267
\n-
\n313,040
\nProperty result (c)
\n72,691
\n60,955
\n38,148
\n64,434
\n54,249
\n4,187
\n18,007
\n267
\n-
\n312,938
\nProperty operating result (d) 71,307 58,457 35,793 61,758 52,677 3,784 17,757 188 - 301,721
\nOPERATING RESULT BEFORE RESULT ON PORTFOLIO (e)
\n71,307
\n58,457
\n35,793
\n61,758
\n52,677
\n3,784
\n17,757
\n188
\n-35,911
\n265,810
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nOperating margin* (d)/(b)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n96.4%
\nEBIT margin* (e)/(b)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n84.9%
\nOperating charges* (e)-(b)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n47,230
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n31/12/2022
\n(x \u20ac1,000)
\nBE
\nDE
\nNL
\nUK
\nFI
\nSE
\nIE
\nES
\nNon-allocated
\nTOTAL
\nSEGMENT RESULT
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nRental income (a)
\n67,432
\n56,738
\n33,571
\n57,472
\n44,725
\n3,917
\n9,245
\n32
\n-
\n273,132
\nNet rental income (b) 67,080 56,369 32,884 57,324 44,695 3,914 9,245 32 - 271,543
\nProperty result (c)
\n67,092
\n56,295
\n32,928
\n57,318
\n45,180
\n3,763
\n9,245
\n32
\n-
\n271,853
\nProperty operating result (d)
\n66,448
\n54,745
\n30,883
\n55,359
\n42,624
\n3,435
\n9,107
\n32
\n-
\n262,633
\nOPERATING RESULT BEFORE RESULT ON PORTFOLIO (e)
\n66,448
\n54,745
\n30,883
\n55,359
\n42,624
\n3,435
\n9,107
\n32
\n-32,959
\n229,674
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nOperating margin* (d)/(b)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n96.7%
\nEBIT margin* (e)/(b)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n84.6%
\nOperating charges* (e)-(b)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n41,869
\n
\n\n\nNote 44.4: Financial result excl. changes in fair value of financial instruments*
\nAedifica uses the financial result excl. changes in fair value of financial instruments* to reflect its financial
\nresult before the non-cash effect of financial instruments; however, this performance measure is not defined
\nunder IFRS. It represents the total of items XX., XXI. and XXII. of the income statement.
\n(x \u20ac1,000)
\n31/12/2023
\n31/12/2022
\nXX. Financial income
\n3,006
\n1,606
\nXXI. Net interest charges
\n-45,004
\n-30,651
\nXXII. Other financial charges
\n-5,181
\n-7,194
\nFinancial result excl. changes in fair value of financial instruments*
\n-47,179
\n-36,239
\n
\n
\nNote 44.5: Average cost of debt*
\nAedifica uses average cost of debt* and average cost of debt* (incl. commitment fees) to reflect the costs of
\nits financial debts; however, these performance measures are not defined under IFRS. They represent
\nannualised net interest charges deducted by reinvoiced interests and IFRS 16 (and commitment fees) divided
\nby weighted average financial debts.
\n(x \u20ac1,000)
\n31/12/2023
\n31/12/2022
\nWeighted average financial debts (a)
\n2,395,149
\n2,263,976
\n
\n
\n
\nXXI. Net interest charges -45,004 -30,651
\nReinvoiced interests (incl. in XX. Financial income)
\n2,181
\n1,183
\nInterest cost related to leasing debts booked in accordance with IFRS 16
\n1,393
\n951
\nAnnualised net interest charges (b)
\n-41,430
\n-28,517
\nAverage cost of debt* (b)/(a)
\n1.7%
\n1.3%
\nCommitment fees (incl. in XXII. Other financial charges)
\n-3,514
\n-3,437
\nAnnualised net interest charges (incl. commitment fees) (c)
\n-44,944
\n-31,954
\nAverage cost of debt* (incl. commitment fees) (c)/(a)
\n1.9%
\n1.4%
\n
\n
\nNote 44.6: Interest Cover Ratio* (ICR)
\nAedifica uses the Interest Cover Ratio* to measure its ability to meet interest payments obligations related to
\ndebt financing and should be at least equal to 2.0x. However, this performance measure is not defined under
\nIFRS. The ICR* is calculated based on the definition set out in the prospectus of Aedifica\u2019s Sustainability
\nBond: \u2018Operating result before result on the portfolio\u2019 (lines I to XV of the consolidated income statement)
\ndivided by \u2018Net interest charges\u2019 (line XXI) on a 12-month rolling basis.
\n(x \u20ac1,000)
\n01/01/2023 -
\n31/12/2023
\n01/01/2022-
\n31/12/2022
\nOperating result before result on portfolio
\n265,810
\n229,674
\nXXI. Net interest charges
\n-45,004
\n-30,651
\nThe interest cover ratio
\n5.9
\n7.5
\n
\n
\nNote 44.7: Net debt/EBITDA
\nThis APM indicates how long a company would have to operate at its current level to pay off all its debts. It
\nis calculated by dividing net financial debts, i.e., long-term and current financial debts minus cash and cash
\nequivalents (numerator) by the EBITDA of the past twelve months (TTM) (denominator). EBITDA is the
\noperating result before result on portfolio plus depreciation and amortisation.
\n(x \u20ac1,000)
\n31/12/2023
\n31/12/2022
\nNon-current and current financial debts
\n2,280,299
\n2,452,420
\n- Cash and cash equivalents
\n-18,253
\n-13,891
\nNet debt (IFRS)
\n2,262,046
\n2,438,529
\n
\n
\n
\nOperating result before result on portfolio (TTM)
\n1
\n
\n265,810
\n229,674
\n+ Depreciation and amortisation of other assets (TTM)
\n1
\n 2,180 1,868
\nEBITDA (IFRS)
\n267,990
\n231,542
\n
\n
\n
\nNet Debt / EBITDA
\n8.4
\n10.5
\n
\n1. TTM (trailing 12 months) means that the calculation is based on financial figures for the past 12 months.
\n
\n\n\nNote 44.8: Equity
\nAedifica uses equity excl. changes in fair value of hedging instruments* to reflect equity before non-cash
\neffects of the revaluation of hedging instruments; however, this performance measure is not defined under
\nIFRS. It represents the line \u2018equity attributable to owners of the parent\u2019 without cumulated non-cash effects
\nof the revaluation of hedging instruments.
\n(x \u20ac1,000)
\n31/12/2023 31/12/2022
\nEquity attributable to owners of the parent
\n3,575,862
\n3,282,785
\n- Effect of the distribution of the dividend 2022
\n0
\n-141,163
\nSub-total excl. effect of the distribution of the dividend 2022
\n3,575,862
\n3,141,622
\n- Effect of the changes in fair value of hedging instruments
\n-63,908
\n-118,908
\nEquity excl. changes in fair value of hedging instruments*
\n3,511,954
\n3,022,714
\n
\n
\nNote 44.9: Key performance indicators according to the EPRA principles
\nAedifica supports reporting standardisation, which has been designed to improve the quality and
\ncomparability of information. The Group supplies its investors with most of the information recommended by
\nEPRA (see also the \u2018Reporting according to EPRA standards\u2019 chapter of this Annual Report on pages 180-
\n191). The following indicators are considered APMs and are calculated in the aforementioned EPRA chapter:
\n\u2022 EPRA Earnings* represents the profit (attributable to owners of the Parent) after corrections
\nrecommended by the EPRA. The EPRA Earnings* is calculated in Note 19 (in accordance with the
\nAedifica model) and in the EPRA chapter of the Annual Financial Report (in accordance with the model
\nrecommended by EPRA).
\n\u2022 EPRA Net Reinstatement Value* represents the line \u2018equity attributable to owners of the parent\u2019 after
\ncorrections recommended by the EPRA. The EPRA Net Reinstatement Value assumes that entities
\nnever sell assets and provide an estimation of the value required to rebuild the entity.
\n\u2022 EPRA Net Tangible Assets* represents the line \u2018equity attributable to owners of the parent\u2019 after
\ncorrections recommended by the EPRA. The EPRA Net Tangible Assets assumes that the Company
\nacquires and sells assets, which would result in the realisation of certain unavoidable deferred taxes.
\n\u2022 EPRA Net Disposal Value* represents the line \u2018equity attributable to owners of the parent\u2019 after
\ncorrections recommended by the EPRA. The EPRA Net Disposal Value represents the value accruing
\nto the Company's shareholders under an asset disposal scenario, resulting in the settlement of
\ndeferred taxes, the liquidation of financial instruments and the recognition of other liabilities for their
\nmaximum amount, net of any resulting tax.
\n\u2022 EPRA Cost Ratio (including direct vacancy costs)* and EPRA Cost Ratio (excluding direct
\nvacancy costs)* represent aggregate operational costs as recommended by the EPRA.
\n\u2022 The EPRA LTV* represents the Company's indebtedness compared to the market value of its assets.
\n\n\n",
"dimensions": {
"concept": "aed:DisclosureOfAlternativePerformanceMeasuresExplanatory",
"language": "en",
"entity": "scheme:529900DTKNXL0AXQFN28",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag710": {
"value": "\nThe Company may carry out all transactions and studies relating to all real estate as described above, and
\nmay perform all acts relating to real estate, such as purchase, refurbishment, laying out, letting, furnished
\nletting, subletting, management, exchange, sale, parcelling, placing under a system of co-ownership, and
\nhave dealings with all enterprises with a corporate object that is similar to or complements its own by way of
\nmerger or otherwise, insofar as these acts are permitted under the RREC Legislation and, generally, perform
\nall acts that are directly or indirectly related to its object.
\n\n",
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}