Vesteda Annual Report 2025

Consolidated statement of changes in equity in accordance with INREV valuation principles

For the year ended 31 December 2025; amounts in € million.

Reserve

Fund Equity

General paid-in surplus

Property

Derivatives

Legal

Other reserve

Total equity

As at 1 January 2024

35

1,166

2,748

(3)

4

2,639

6,589

Result for the year

-

-

866

-

-

261

1,127

Other comprehensive income

-

-

-

1

1

(47)

(45)

Total comprehensive income

-

-

866

1

1

214

1,082

Realised from property sales

-

-

(58)

-

-

58

-

Equity issued

1

90

-

-

-

-

91

Equity redemption

(1)

(140)

-

-

-

-

(141)

Distribution paid

-

(200)

-

-

-

-

(200)

Changes according to INREV

-

-

22

-

-

(22)

-

As at 31 December 2024

35

916

3,578

(2)

5

2,889

7,421

Reserve

Fund Equity

General paid-in surplus

Property

Derivatives

Legal

Other reserve

Total equity

As at 1 January 2025

35

916

3,578

(2)

5

2,889

7,421

Result for the year

-

-

522

-

-

301

823

Other comprehensive income

-

-

-

1

-

(23)

(22)

Total comprehensive income

-

-

522

1

-

278

801

Realised from property sales

-

-

(38)

-

-

38

-

Equity issued

-

75

-

-

-

-

75

Equity redemption

-

(125)

-

-

-

-

(125)

Distribution paid

-

(199)

-

-

-

-

(199)

Rounding adjustment

-

-

-

-

1

(2)

(1)

Changes according to INREV

-

-

2

-

-

(2)

-

As at 31 December 2025

35

667

4,064

(1)

6

3,201

7,972

In 2025, Vesteda paid out €125 million in redemptions, consisting of the payout of the Redemption Available Cash of €50 million and two secondary transaction for a total of €75 million.

Certain figures have been rounded off; consequently, figures shown for the same category presented in different tables may vary slightly and figures shown as totals in certain tables may not be an arithmetic aggregation of the figures that precede them.