Vastned Cash Flow Statement

Financials in millions EUR. Fiscal year is January - December.

Millions EUR. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	2020 - 2016
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	2020 - 2016
Net Income	-	10.64	11.29	14.49	4.09	Upgrade
Depreciation & Amortization	-	0.33	0.17	0.31	0.65	Upgrade
Gain (Loss) on Sale of Assets	-	-0.41	-0.01	-	-0.38	Upgrade
Asset Writedown	-	-1.16	1.11	1.87	9.67	Upgrade
Change in Accounts Receivable	-	-0.87	-0.4	-0.41	-1.35	Upgrade
Change in Accounts Payable	-	0.82	0.29	0.09	-0.74	Upgrade
Change in Other Net Operating Assets	-	-1.13	0.22	0.12	2.3	Upgrade
Other Operating Activities	-	1.25	2.1	-3.27	-0.84	Upgrade
Operating Cash Flow	-	9.69	14.57	13.19	14.16	Upgrade
Operating Cash Flow Growth	-	-33.48%	10.44%	-6.83%	21.00%	Upgrade
Acquisition of Real Estate Assets	-	-1.09	-0.3	-0.05	-0.16	Upgrade
Sale of Real Estate Assets	-	1.6	0.35	-	6.23	Upgrade
Net Sale / Acq. of Real Estate Assets	-	0.51	0.05	-0.05	6.07	Upgrade
Cash Acquisition	-	-3.32	-	-	-	Upgrade
Other Investing Activities	-	-0.01	-0.05	0	-0	Upgrade
Investing Cash Flow	-	-2.82	0.01	-0.05	6.07	Upgrade
Long-Term Debt Issued	-	100.64	15.3	3	2.67	Upgrade
Long-Term Debt Repaid	-	-83.88	-18.21	-4.97	-12.7	Upgrade
Net Debt Issued (Repaid)	-	16.76	-2.91	-1.97	-10.03	Upgrade
Common Dividends Paid	-	-23.36	-11.43	-11.17	-10.41	Upgrade
Other Financing Activities	-	-0.01	0.02	-0.06	0	Upgrade
Net Cash Flow	-	0.26	0.27	-0.05	-0.21	Upgrade
Cash Interest Paid	-	2.84	1.67	1.51	1.62	Upgrade
Levered Free Cash Flow	-	5.91	5.97	10.52	10.65	Upgrade
Unlevered Free Cash Flow	-	8.44	8.3	9.38	11.13	Upgrade
Change in Working Capital	-	-0.96	-0.09	-0.21	0.99	Upgrade

Source: S&P Capital IQ. Real Estate template. Financial Sources.