10 Income taxes
The Fund has opted for the status of Fiscal Investment Institution (FII). Although an FII is not transparent for tax purposes the FII regime is based on the principle of tax transparency.
11 Employee benefits expense
The Retail Fund has no employees.
12 Investment property
The Fund’s investment properties are valued by external valuation experts on a quarterly basis. The external valuation expert is changed every three years.
13 Trade and other current receivables
Other receivables are increased due to a VAT receivable with regard to the acquisition of the Groote Wielen, Rosmalen.
14 Cash and cash equivalents
The bank balances of € 25.4 million are freely available to the Fund as at 31 December 2023.
15 Equity attributable to shareholders of Bouwinvest Dutch Institutional Retail Fund N.V.
For 2023, before appropriation of profit
16 Non-current lease liabilities
The average discount rate used for discounting the lease payments is 3%.
17 Current trade and other payables
The other payables relates to other provisions (€ 0.3 million) and promotional contributions to be paid out (€ 0.2 million).
18 Earnings per share
Basic earnings per share are calculated by dividing the net profit attributable to shareholders by the weighted average number of ordinary shares outstanding during the year.
19 Dividends per share
In 2023, the Fund paid out a dividend of € 120.59 per share (2022: € 106.99) which amounts to a total of € 44.7 million (2022: € 39.6 million).