Skip to website navigation Skip to article navigation Skip to content

Financial statements

A page refresh occures when a subject is selected.

Skip article navigation.

Notes to the consolidated financial statements

All amounts in € thousands, unless otherwise stated

1 General information

The Office Fund (Chamber of Commerce number 34366457) is a Fund for Mutual Account (FMA, FGR in Dutch) incorporated under the laws of the Netherlands, with its corporate seat in Amsterdam, the Netherlands.

2 Summary of material accounting policies

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied unless otherwise stated.

3 Financial risk management

The credit risk relating to the receivables is maximised to € 3.8 million in 2023 (2022: € 6.5 million) and the receivables are closely monitored.

4 Critical accounting estimates and judgements

5 Core regions

A spread by core regions is applied in the analysis of the valuation of the investment property portfolio. Amsterdam, Rotterdam, The Hague and Utrecht are considered core office regions in 2023. The Fund is currently active in these 4 regions.

6 Gross rental income and service charge income

The future contractual rent from leases in existence on 31 December 2023, until the end of the contract (accounted for on the basis of the minimum rent) can be analysed as follows:

7 Property operating expenses

In 2023, € 0.4 million (2022: € 0.6 million) of the maintenance expenses related to unlet properties.

8 Administrative expenses

Where administrative expenses relate directly to the operation of the property portfolio, they are charged to operating expenses. Where administrative expenses relate directly to the development of the property portfolio, they are capitalised.

9 Finance income and expenses

The Fund had no external loans and borrowings during 2023. The Fund was subject to the positive interest rate development for its bank balances.

Show more results