Social Real Estate Agency
(Walloon Region) Agence pour une Vie de Qualité – Agency for quality of life
Federation of Social Real Estate Agencies in the Brussels Capital Region
Legal ratio calculated according to RREC legislation as financial and other debts divided by total assets.
Investment properties’ disposal value according to IAS/IFRS accounting principles, i.e. after deduction of transaction costs, as determined by independent real estate valuers. The transaction costs are fixed by independent real estate valuers at a 2.5% flat rate for properties located in Belgium. However, the costs to deduct for properties with a less than 2.5 million EUR overall value, are registration rights (10% or 12.5%) applicable according to the property’s location.
The portfolio’s value established by real estate valuers, without deduction of transaction costs.
Net result from core activities plus result on financial instruments plus result on the portfolio.
Operating result before the result on the portfolio, plus the financial result (financial income – financial charges), minus income taxes.
Realised and unrealised gains and losses compared with the valuation of the real estate valuer, plus the exit tax due following the entry of any asset into the RREC, SIIC or FBI regimes.
Is calculated by dividing the (indexed, excluding assets held for sale) contractual rents of the current leases by the sum of these contractual rents and the vacant spaces’ Estimated Rental Value, the latter being calculated on the basis of the current rents’ level on the market.
Operating result before the result on the portfolio divided by the property result.
Partnership between the public and private sectors on projects with a public destination: urban renewal, infrastructure works, public buildings, etc
Status created in 2014 with the same objectives as the Real Estate Investment Trusts (REIT) in different countries: REIT (USA), SIIC (France) and FBI (Pays-Bas). RRECs are supervised by the Financial Services and Markets Authority (FSMA) and subject to specific regulations.