Skip to website navigation Skip to article navigation Skip to content

A page refresh occures when a subject is selected.

Skip article navigation.

Financial and operating results

The after tax result for the reporting year was €20.6 million (2018: €18.4 million). Total revenue increased by €11.2 million in 2019, from €126.6 million in 2018 to €137.8 million in 2019. The operating expenses of €110.2 million (2018: €102.0 million) largely relate to the costs charged on by PGGM, concerning personnel expenses, accommodation expenses, IT costs and overhead costs.

Equity amounted to €77.6 million as at 31 December 2019 (year-end 2018: €77.0 million). The solvency as at 31 December 2019 amounted to 78.8% (2018: 76.1%). The solvency is determined as the ratio of equity to the balance sheet total. The cash balance was €71.8 million as at 31 December 2019 (31 December 2018: €72.5 million).