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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)