GECINA - REFERENCE DOCUMENT 2017
04
ANNUAL FINANCIAL STATEMENTS Notes to the annual financial statements at December 31, 2017
AMORTIZATION
Balance brought forward
Balance carried forward
Allocations
Write-backs
In €’000
Intangible assets
2,338 2,338
1,482 1,482
3,820 3,820
Concessions, licenses Tangible fixed assets
533,585 515,924 13,028
58,884 56,494
20,650 19,647
571,820 552,770 12,498
Buildings
Buildings on third party land
468
998
Other tangible assets
4,633
1,923
4
6,551
TOTAL
535,923
60,366
20,650
575,640
IMPAIRMENT
Balance brought forward
Balance carried forward
Allocations
Write-backs
In €’000
Tangible fixed assets
74,907 65,880
62
53,751 51,241
21,218 14,640
Land
Buildings
9,027
62
2,510 5,685
6,579
Financial investments
335,861
15,767
345,942
Equity investments and related receivables and Group loans
270,669
15,767
5,685
280,750
Other financial investments
153
153
Advances on property acquisitions
65,039
65,039
TOTAL
410,768
15,829
59,436
367,161
Tangible fixed asset impairments are related to the impairments of portfolio properties when there is a sign of impairment (see Note 4.3.3.1.3 on impairment method). Impairment of investments and related receivables mainly concern SIF Espagne for €211 million.
The impairment of advances on property acquisitions is related to the advance granted to the Spanish company Bamolo, written down for €65 million (in order to reduce it to the land’s latest appraisal value of €0.5 million).
Operating receivables
4.3.4.2
12/31/2016
12/31/2017
In €’000
Rent due
15,922 (8,339)
23,211 (8,011) 15,200 50,375
Impairment of rent due
TOTAL RENT DUE AND RELATED RECEIVABLES
7,583
Group receivables Group income due
169,572
8,821 1,692 9,161 4,746 1,251 1,075
98
Miscellaneous income due
439
French state – income tax receivables
10,502
French state – VAT
6,274
Management agencies, co-ownerships and external managers
828
Miscellaneous other receivables Other receivables impairment TOTAL OTHER RECEIVABLES
7,812
(27,649) 168,669
(26,947) 49,381
Group receivables mainly comprise receivables derived from the centralized cash management and from Bami Newco, SIF Espagne’s subsidiary, for an amount of €20 million, which was fully written down.
SIF Espagne subsidiary’s €20 million guarantee in connection with the restructuring of financing facilities for Bami Newco which was called and paid by Gecina in November 2013 as ordered by the courts. The receivership proceedings for Bami Newco are ongoing.
This receivable of €20 million corresponds to Gecina’s guarantee (issued in 2010), counter-guaranteeing the Operating receivables have a maturity of less than one year.
116 GECINA - REFERENCE DOCUMENT 2017
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