Key Figures
Geographical Distribution
Type of building
Growth of portfolio
Commercial activities
The financial year of Retail Estates starts on 1 April and ends on 31 March, The key figures below are consolidated figures incorporating the subsidiaries. The figures at 30 September are the half-year figures.
| Real state portfolio | 31.03.2026 | 31.03.2025 | 31.03.2024 | 31.03.2023 | 31.03.2022 |
|---|---|---|---|---|---|
| Number of retail properties | 1,006 | 1,023 | 1,020 | 1,013 | 987 |
| Total lettable area in m² | 1,191,234 | 1,231,205 | 1,228,576 | 1,211,004 | 1,177,577 |
| Estimated fair value in EUR | 2,101,655,786 | 2,069,537,304 | 2,028,317,000 | 1,888,562,000 | 1,759,879,000 |
| Estimated investment value in EUR | 2,214,827,422 | 2,179,677,298 | 2,134,531,000 | 1,983,204,000 | 1,833,757,000 |
| Average rent price per m² | 128.27 | 123.83 | 119.06 | 114.89 | 104.14 |
| Occupancy rate | 97.82 % | 97.26 % | 98.10 % | 98.47 % | 97.81 % |
| Balance sheet information | 31.03.2026 | 31.03.2025 | 31.03.2024 | 31.03.2023 | 31.03.2022 |
|---|---|---|---|---|---|
| Shareholders’ equity | 1,298,025,903 | 1,230,021,301 | 1,174,361,000 | 1,104,064,000 | 920,980,000 |
| Shareholders’ equity attributable to the shareholders of the parent company | 1,286,865,330 | 1,221,039,711 | 1,167,356,083 | 1,097,249,112 | 920,980,000 |
| Debt ratio (RREC legislation, max. 65%) | 40.39 % | 42.52 % | 44.62 % | 44.77 % | 49.15 % |
| Results (in thousands of €) | 31.03.2026 | 31.03.2025 | 31.03.2024 | 31.03.2023 | 31.03.2022 |
|---|---|---|---|---|---|
| Net rental income | 145,787 | 142,176 | 138,829 | 125,401 | 115,579 |
| Property result | 142,795 | 139,359 | 136,431 | 123,482 | 113,504 |
| Property costs | -15,728 | -15,551 | -16,340 | -15,332 | -10,524 |
| Operating corporate costs and other current operating income and expenses | -9,026 | -9,480 | -8,473 | -7,097 | -6,050 |
| Operating result before result on portfolio | 118,042 | 114,328 | 111,617 | 101,053 | 96,930 |
| Result on portfolio | 27,179 | 29,787 | 50,425 | 51,460 | 22,096 |
| Operating result | 145,221 | 144,115 | 162,043 | 152,513 | 119,026 |
| Financial result | -16,816 | -33,213 | -38,059 | 22,723 | 16,158 |
| Net result (share Group) | 122,950 | 106,696 | 122,967 | 180,621 | 131,837 |
| EPRA earnings (share Group) | 91,897 | 90,859 | 88,366 | 88,203 | 75,265 |
| Information per share | 31.03.2026 | 31.03.2025 | 31.03.2024 | 31.03.2023 | 31.03.2022 |
|---|---|---|---|---|---|
| Number of shares | 15,026,370 | 14,707,335 | 14,375,587 | 14,085,827 | 13,226,452 |
| Number of dividend bearing shares | 15,026,370 | 14,707,335 | 14,375,587 | 14,085,827 | 13,226,452 |
| Weighted average number of shares | 14,950,326 | 14,627,352 | 14,294,043 | 13,909,243 | 12,893,111 |
| Net asset value (NAV) (IFRS) (attributable to the shareholders of the parent company) (in €) | 85.64 | 83.02 | 81.20 | 77.90 | 69.63 |
| EPRA NTA (attributable to the shareholders of the parent company) (in €) | 83.41 | 80.87 | 78.15 | 73.78 | 68.46 |
| EPRA earnings per share (attributable to the shareholders of the parent company) (in €)2 | 6.15 | 6.21 | 6.18 | 6.34 | 5.84 |
| Gross dividend per share (in €) | 5.20 | 5.10 | 5.00 | 4.90 | 4.60 |
| Net dividend per share (in €) | 3.64 | 3.57 | 3.50 | 3.43 | 3.22 |
| Gross dividend yield on closing price (excl. dividend) | 7.88 % | 8.46 % | 7.69 % | 7.53 % | 6.22 % |
| Net dividend yield on closing price (excl. dividend) | 5.52 % | 5.92 % | 5.38 % | 5.27 % | 4.36 % |
| Closing price on closing date (in €) | 66.00 | 60.30 | 65.00 | 65.10 | 73.90 |
| Average share price (in €) | 64.30 | 62.50 | 60.95 | 65.02 | 68.84 |
| Evolution of share price during the financial year | 9.45 % | -7.23 % | -0.15 % | -11.91 % | 26.54 % |
| Over-/undervaluation compared to net asset value IFRS | -22.93 % | -27.37 % | -19.95 % | -16.43 % | 6.13 % |
| Over-/undervaluation compared to the EPRA NTA value | -20.88 % | -25.44 % | -16.83 % | -11.77 % | 7.95 % |
* The Royal Decree of 13 July 2014 (the 'RREC R.D.'), last modified by the Royal Decree of 23 April 2018 in execution of the Law of 12 May 2014 (the 'RREC Law'), last modified by the Law of 22 October 2017 on regulated real estate companies (Belgian REITs).