Wereldhave Belgium 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	42.38	71.89	29.22	55.23	38.19	Upgrade
Depreciation & Amortization	0.41	0.39	0.35	0.15	0.21	Upgrade
Gain (Loss) on Sale of Investments	0.38	3.37	5.57	-15.44	-2.41	Upgrade
Asset Writedown	5.94	-32.53	4.97	0.75	3.28	Upgrade
Change in Accounts Receivable	0.84	2.68	11.59	1.27	-5.2	Upgrade
Change in Other Net Operating Assets	-5.18	-0.35	1.79	-0.44	8.38	Upgrade
Other Operating Activities	15.14	11.44	10.78	7.4	5.02	Upgrade
Operating Cash Flow	59.91	56.9	64.26	48.92	47.47	Upgrade
Operating Cash Flow Growth	5.30%	-11.46%	31.35%	3.05%	18.82%	Upgrade
Acquisition of Real Estate Assets	-226.17	-9.49	-18.86	-24.65	-11.67	Upgrade
Sale of Real Estate Assets	9.03	-	7.33	3.3	2.5	Upgrade
Net Sale / Acq. of Real Estate Assets	-217.15	-9.49	-11.53	-21.35	-9.17	Upgrade
Cash Acquisition	-	-	-3.27	-	-	Upgrade
Other Investing Activities	-	0.2	-	0.03	0	Upgrade
Investing Cash Flow	-217.15	-9.28	-14.8	-21.32	-9.16	Upgrade
Long-Term Debt Issued	140.55	120.8	40.55	54.45	72	Upgrade
Long-Term Debt Repaid	-19.15	-124.1	-18.8	-47.5	-85.7	Upgrade
Net Debt Issued (Repaid)	121.4	-3.3	21.75	6.95	-13.7	Upgrade
Common Dividends Paid	-17.03	-36.43	-37.32	-25.06	-18.14	Upgrade
Other Financing Activities	69.65	-16.35	-26.61	-4.61	-3.96	Upgrade
Miscellaneous Cash Flow Adjustments	-	-	0	-	-	Upgrade
Net Cash Flow	16.79	-8.47	7.28	4.88	2.51	Upgrade
Cash Interest Paid	17.04	8.72	7.68	4.61	3.96	Upgrade
Cash Income Tax Paid	0.32	-	0.07	-0.06	-0.07	Upgrade
Levered Free Cash Flow	41.97	20.74	16.48	31.45	27.4	Upgrade
Unlevered Free Cash Flow	52.53	30.95	24.83	35.15	30.32	Upgrade
Change in Working Capital	-4.34	2.33	13.38	0.83	3.18	Upgrade

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