Statement of comprehensive income
All amounts in € thousands, unless otherwise stated
| Note | | 2016 | | 2015 |
Gross rental income | 5 | 1,793 | | 1,951 | |
Service charge income | 5 | - | | 13 | |
Other income | | - | | - | |
Revenues | | | 1,793 | | 1,964 |
| | | | | |
Service charge expenses | | - | | (15) | |
Property operating expenses | 6 | (180) | | (254) | |
| | | (180) | | (269) |
Net rental income | | | 1,613 | | 1,695 |
| | | | | |
Result on disposal of investment property | | | - | | 163 |
| | | | | |
Positive fair value adjustment investment property | | 998 | | 215 | |
Negative fair value adjustment investment property | | - | | (3) | |
Net valuation gain (loss) on investment property | 11 | | 998 | | 212 |
| | | | | |
Net valuation gain (loss) on investment property under construction | 12 | | (1,249) | | - |
| | | | | |
Administrative expenses | 7 | | (238) | | (160) |
Result before finance result | | | 1,124 | | 1,910 |
| | | | | |
Finance expenses | 8 | (24) | | - | |
Net finance result | | | (24) | | - |
| | | | | |
Result before tax | | | 1,100 | | 1,910 |
Income taxes | 9 | | - | | - |
Result for the year | | | 1,100 | | 1,910 |
| | | | | |
Items that will not be reclassified subsequently to comprehensive income | | | - | | - |
Items that may be reclassified subsequently to comprehensive income | | | - | | - |
Total comprehensive income for the year, net of tax | | | 1,100 | | 1,910 |
| | | | | |
Net profit attributable to shareholders | | | 1,100 | | 1,910 |
Total comprehensive income attributable to shareholders | | | 1,100 | | 1,910 |
| | | | | |
| | | | | |
Distributable result | 18 | | 1,351 | | 1,534 |
Pay-out ratio | 18 | | 100% | | 100% |