GECINA - REFERENCE DOCUMENT 2017

03

CONSOLIDATED FINANCIAL STATEMENTS Notes to the consolidated financial statements

Deferred tax assets and liabilities 3.5.5.4 At December 31, 2017, deferred asset taxes represent an amount of €8.2 million. These includes mainly deficit carry-forwards and the impact of the fair valuation of financial instruments for those in place in companies in a taxable sector.

Eurosic acquisition values (12,637) (12,637)

Change in income

At 12/31/2017

At 12/31/2016

In €’000

Gains on financial lease contracts and inventory TOTAL DEFERRED TAX LIABILITIES

3 3

(12,634) (12,634)

0

Tax deficit activation

3,519 6,307 9,826

(1,622)

1,897 6,310 8,207

Other changes

3

(1,619) (1,616)

TOTAL DEFERRED TAX ASSETS TOTAL NET DEFERRED TAXES

0 0

(4,427)

(2,811)

Properties for sale 3.5.5.5 Movements on properties for sale are included in the overall statement of changes in property assets (see Note 3.5.5.1.1). The amount of properties held for sale breaks down as follows:

12/31/2016 112,624 434,782 547,406

12/31/2017

In €’000

Properties for sale (block basis) Properties for sale (units basis)

167,079 411,613 578,692

TOTAL (1)

Of which €62 million of Eurosic acquisition value. (1)

Buildings in inventory 3.5.5.6 These are mainly office assets located in the regions acquired from real estate traders. These assets are entered at their cost price (at cost, including expenses and works).

Trade receivables 3.5.5.7 The breakdown of net receivables by sector is indicated in Note 3.5.8.

12/31/2016

12/31/2017

In €’000

BILLED CLIENTS

56,217 6,589 96,635

37,117 3,542 76,016

Unbilled expenses payable

Balance of amortized rent – free periods and stepped rents (IAS 17)

TRADE RECEIVABLES (GROSS)

159,441 (17,772) 141,669

116,675 (10,726) 105,949

Impairment of receivables

TRADE RECEIVABLES (NET) (1)

Of which €24,1 million of Eurosic acquisition value. (1)

82 GECINA - REFERENCE DOCUMENT 2017

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