Our figures for each quarter can be found under legal documents

Financial structure

Vastned Belgium has a conservative financial structure at December 31, 2023, with a low debt ratio which allows it to carry out its activities also in 2024.

The main characteristics of the financial structure at December 31, 2023 are:

  • Withdrawn financial debts: € 77.8 million
  • 100% of available credit lines with financial institutions are long-term financing with a weighted average term of 4.0 years.
  • Unused credit facilities of € 32.2 million.
  • For 55% of the available credit lines, the interest rate is fixed by interest rate swaps or fixed interest rates, 45% has a variable interest rate; of the credit lines drawn, this amounts to 77% and 23% respectively.
  • Fixed interest rates are fixed for a remaining period of 3.9 years on average.
  • Average interest rate for 2023: 2.22% including bank margins.
  • Market value of the financial derivatives: € 0.3 million.
  • Limited debt ratio of 25.3% (legal maximum of 65.0%).
  • There are been no contractual changes to the existing covenants of the Company in 2023. Vastned Belgium complies with all covenants on 31 December 2023. As a result of the refinancing, one covenant (with one financial institution) will be adjusted in 2024, more specifically that the maximum debt ratio may not exceed 50.0% (currently this value is set at 60.0%).

Due date calender of credit lines

Alternative Performance measures

Our figures for each quarter can be found under legal documents.