Notes to the financial statements
All amounts in € thousands, unless otherwise stated
7 Deferred tax liabilities
Bouwinvest has recognised a deferred tax liability of € 1.5 million of a long-term nature for the difference between the fiscal and commercial valuation of the participations of € 5.1 million at year-end 2023 (2022: € 7.1 million).
8 Long-term liabilities
The short-term part of the received rental incentive amounting to € 32,000 is recognised in the other liabilities.
9 Taxes and social security charges
10 Pension premiums
The movement in short-term liabilities related to pensions was as follows:
11 Payables to shareholder and associates
The decrease of € 4.3 million of the payables to bpfBOUW relating to the incentive fee with respect to bpfBOUW's participation in the Bouwinvest Dutch Residential Fund is a result of the amendment of the fee-structure as of 1 January 2023.
Off balance sheet rights and obligations
Bouwinvest has management agreements with the Dutch funds it manages. These agreements are open-ended and payment after termination is for two years.