Aedifica NV/SA Cash Flow Statement

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

Millions EUR. Fiscal year is Jan - Dec.

Fiscal Year	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Net Income	204.83	24.54	331.78	281.82	115.38
Depreciation & Amortization	2.9	3.65	3.49	2.34	1.36
Gain (Loss) on Sale of Assets	-0.37	0.86	-0.79	-0.53	0.37
Gain (Loss) on Sale of Investments	-	-	-	-	-2.04
Asset Writedown	15.04	169.71	-66.77	-156.67	-14.46
Change in Accounts Receivable	-	-	-	-	-2.91
Change in Accounts Payable	-	-	-	-	-0.42
Change in Other Net Operating Assets	-24.91	-29.22	5.6	15.31	-12.49
Other Operating Activities	51.01	60	-54.7	56	36.35
Operating Cash Flow	248.5	229.53	218.6	198.27	120.73
Operating Cash Flow Growth	8.26%	5.00%	10.25%	64.22%	7.84%
Acquisition of Real Estate Assets	-257.52	-305.14	-558.96	-873.7	-241.5
Sale of Real Estate Assets	80.77	73.12	35.72	53.67	15.57
Net Sale / Acq. of Real Estate Assets	-176.75	-232.02	-523.25	-820.03	-225.93
Cash Acquisition	-107.2	-11.32	-151.86	-	-579.53
Other Investing Activities	24.4	-15.46	-8.3	-0.18	-0.4
Investing Cash Flow	-259.55	-258.8	-683.4	-820.93	-806.72
Long-Term Debt Issued	232.49	-	370.79	418.64	-
Total Debt Issued	232.49	-	370.79	418.64	368.63
Long-Term Debt Repaid	-0.34	-172.86	-0.18	-	-
Net Debt Issued (Repaid)	232.15	-172.86	370.61	418.64	368.63
Issuance of Common Stock	-	374.21	251.42	281.16	436.08
Common Dividends Paid	-166.85	-115.99	-119.08	-47.75	-86.77
Other Financing Activities	-54.05	-51.73	-39.59	-37.61	-26.52
Net Cash Flow	0.2	4.36	-1.44	-8.21	5.43
Cash Income Tax Paid	-	-	-	-	8.49
Levered Free Cash Flow	79.98	129.6	92.92	106.29	-
Unlevered Free Cash Flow	132.1	174.99	108.6	117.91	-
Change in Working Capital	-24.91	-29.22	5.6	15.31	-16.45

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Real Estate template. Financial Sources.