Consolidated statement of profit or loss and other comprehensive income in accordance with INREV valuation principles
For the year ended 31 December 2024; amounts in € million
2024 IFRS | Adj. | 2024 INREV | 2023 IFRS | Adj. | 2023 INREV | |
Gross rental income | 399 | 399 | 378 | 378 | ||
Service charge income | 14 | 14 | 12 | 12 | ||
Property operating expenses (excluding service charges) | (105) | (105) | (89) | (89) | ||
Service charges | (21) | (21) | (19) | (19) | ||
Other income | 2 | 2 | 2 | 2 | ||
Net rental income | 289 | 289 | 284 | 284 | ||
Result on disposals | 46 | 46 | 10 | 10 | ||
Management expenses | (30) | (30) | (30) | (30) | ||
Financial results | (68) | (68) | (56) | (56) | ||
Result before valuation gains (losses) on investment property | 237 | 237 | 208 | 208 | ||
Unrealised result | 891 | 891 | (863) | (863) | ||
Result before tax | 1,128 | 1,128 | (655) | (655) | ||
Tax | (1) | (1) | (1) | (1) | ||
Result after tax (attributable to equity holders of the parent) | 1,127 | 1,127 | (656) | (656) | ||
Other comprehensive income that will be reclassified subsequently to profit or loss | ||||||
- Settlement pre-hedge contracts | 1 | 1 | 1 | 1 | ||
Other comprehensive income that will not be reclassified subsequently to profit or loss | ||||||
- Revaluation of PPE | 1 | 1 | (2) | (2) | ||
Fair value adjustment on liabilities | - | (69) | (69) | - | (105) | (105) |
Acquisition costs on Investment property (under construction) | - | 22 | 22 | - | (8) | (8) |
Other comprehensive income, net of tax | 2 | (45) | (1) | (114) | ||
Total comprehensive income (attributable to equity holders of the parent) | 1,129 | 1,082 | (657) | (770) |