WDP Annual financial report
245
BALANCE SHEET – ASSETS1 in euros (x 1,000)
Fixed assets
31.12.2019
31.12.2018
31.12.2017
4,006,312
3,300,233
2,611,236
B.
Intangible fixed assets
393
216
146
C.
Investment properties
1,327,508
1,132,650
1,008,286
Property available for lease
D.
1,256,512
1,103,491
982,853
Property developments
55,882
11,550
6,121
Other: land reserves
15,114
17,609
19,311
Other tangible fixed assets
63,080
66,018
66,566
1,996
2,293
1,876
61,083
63,725
64,690
Tangible fixed assets for own use Solar panels E.
Financial fixed assets1
1,130,961
966,423
776,740
Assets at fair value through result
0
3,252
5,764
Permitted hedging instruments
0
3,252
5,764
Financial assets at amortised cost
1,130,961
963,171
770,976
Other
1,130,961
963,171
770,976
1,011
1,004
822
1,483,359
1,133,922
758,676
H.
Trade receivables and other fixed assets
J.
Proportionate share in participations incorporated using the equity accounting method1
Current assets
42,367
30,026
34,250
Assets held for sale
4,292
739
7,525
Investment properties
4,292
739
7,525
D.
Trade receivables
4,163
2,685
3,972
E.
Tax receivables and other current assets
31,242
24,451
20,921
165
60
1,285
31,077
24,390
19,636
A.
Tax receivables Other current assets F.
Cash and cash equivalents
1,151
662
1,138
G.
Accruals and deferrals
1,518
1,489
694
0
0
6
385
286
132
63
77
70
1,069
1,126
486
4,048,679
3,330,259
2,645,486
Property yields not yet due Prepaid property costs Prepaid interests and other financial costs Other
Total assets
1. Until 31 December 2018, the holdings of the subsidiaries were valuated as financial instruments as per IFRS 9. Since 1 January 2019, the holdings have been valuated using the equity method as per IAS 28. Due to this change in the valuation rules, the dividend paid out from the holdings is recognised as a reduction in the book value of the holding, other changes in shareholders’ equity (revaluation of solar panels, IFRS 16 impact) of the holdings are also recognised as an increase/decrease in the book value and the result of the affiliated companies is recognised under the section “Share in the result of holdings incorporated using the equity method”. The WDP Nederland dividend of 10.222 million euros that was paid out to the parent company in 2018 is now incorporated in the section “Share in the result of holdings incorporated using the equity method”, instead of under section XX. Financial income - interest and dividend collection. The impact of revaluation of the solar panels of the holdings (2.5 million euros) and IFRS 16 impact (1.5 million euros) were booked directly in shareholders’ equity instead of under Section XXIII. Changes in the fair value of financial assets and liabilities. The share in the result of holdings incorporated using the equity method is now given in a separate section. Consequently, the net result for 2018 was decreased to 328,784,000 euros, instead of 332,623,000 euros.