Within the domain of the Residential Fund, we distinguish the following risk clusters:
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All amounts in € thousands unless otherwise stated
Note2014 2013
Gross rental income6156,049 152,233
Service charge income64,038 2,799
Other income
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Before appropriation of result, all amounts in € thousands
As at 31 DecemberNote20142013
Assets
Non-current assets
Investment property122,561,3542,535,854
Investment property under
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For 2014, before appropriation of result, all amounts in € thousands
Issued capitalShare premiumRevaluation reserve*Retained earningsNet result for the yearTotal equity
Balance at 1 January
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All amounts in € thousands
Note20142013
Operating activities
Rental receipts 158,730153,575
Service charge receipts 2,4422,669
Operating payments (51,946)(60,369)
Service charge
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Bouwinvest Dutch Institutional Residential Fund N.V., (the Residential Fund, the Fund) holds a major portfolio of investment properties in the Netherlands.
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The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied unless otherwise stated.
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3.1 Financial risk factors
The risk management function within the Fund is carried out with respect to financial risks.
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Estimates and judgements are continually evaluated and are based on historical experience and adjusted for current market conditions and other factors.
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A spread by core regions is applied in the analysis of the valuation of the investment property portfolio.
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