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
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
Net Income	42.38	71.89	29.22	55.23	38.19
Depreciation & Amortization	0.41	0.39	0.35	0.15	0.21
Gain (Loss) on Sale of Investments	0.38	3.37	5.57	-15.44	-2.41
Asset Writedown	5.94	-32.53	4.97	0.75	3.28
Change in Accounts Receivable	0.84	2.68	11.59	1.27	-5.2
Change in Other Net Operating Assets	-5.18	-7.98	1.79	-0.44	8.38
Other Operating Activities	15.14	11.44	10.78	7.4	5.02
Operating Cash Flow	59.91	49.27	64.26	48.92	47.47
Operating Cash Flow Growth	21.61%	-23.33%	31.35%	3.05%	18.82%
Acquisition of Real Estate Assets	-226.17	-9.49	-18.86	-24.65	-11.67
Sale of Real Estate Assets	9.03	-	7.33	3.3	2.5
Net Sale / Acq. of Real Estate Assets	-217.15	-9.49	-11.53	-21.35	-9.17
Cash Acquisition	-	-	-3.27	-	-
Other Investing Activities	-	-	-	0.03	0
Investing Cash Flow	-217.15	-9.49	-14.8	-21.32	-9.16
Long-Term Debt Issued	140.55	120.8	40.55	54.45	72
Long-Term Debt Repaid	-19.15	-124.1	-18.8	-47.5	-85.7
Net Debt Issued (Repaid)	121.4	-3.3	21.75	6.95	-13.7
Common Dividends Paid	-17.03	-36.43	-37.32	-25.06	-18.14
Other Financing Activities	69.65	-8.52	-26.61	-4.61	-3.96
Miscellaneous Cash Flow Adjustments	-	-	0	-	-
Net Cash Flow	16.79	-8.47	7.28	4.88	2.51
Cash Interest Paid	17.04	8.72	7.68	4.61	3.96
Cash Income Tax Paid	0.32	-	0.07	-0.06	-0.07
Levered Free Cash Flow	43.91	20.74	16.48	31.45	27.4
Unlevered Free Cash Flow	54.47	30.95	24.83	35.15	30.32
Change in Working Capital	-4.34	-5.3	13.38	0.83	3.18

Source: S&P Global Market Intelligence. Real Estate template. Financial Sources.