Ascencio : Annual report 2020/2021

2021

ANNUAL REPORT

15 years of strategic investments

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T H I S Y E A R M A R K E D T H E 1 5 T H A N N I V E R S A R Y O F O U R

E S TA B L I S H M E N T.

Although Ascencio is now a well-knownB-RE- IT managing a property portfolio of over €700 million in 3 European countries, its origins are in Gosselies, a small town in Wallonia.

Gosselies is still the headquarters of the B-REIT. It is strategically located close to Brussels and practically next door to Charleroi airport. This location facilitates its team's agile management of the property portfolio. But more than ever, the B-REIT has become international, investing both in the Brussels, Wallonia and Flanders regions and in other European countries.

Over the years Ascencio has fine-tuned its strat- egy, while remaining faithful to its main calling - food supermarkets.

Since its beginning however, Ascencio's ambitions have been to seize strategic investment opportunities, strengthen the skills of its dynamic and positive team and stay in close touch with its markets and retailer clients.

We have some fine achievements to show for these past 15 years and we look forward to continuing our development over the years to come.

S T O R Y

0 6	L E T T E R T O T H E S H A R E H O L D E R S
0 8	A B O U T A S C E N C I O
1 2	M A N A G E M E N T R E P O R T
	14 A closer look at 2020/2021
	15 History and highlights of the financial year
	20 Key figures
	23 Strategy
	25 Activity report
	� 26 Real estate report
	� 62 Experts' report
	� 65 Summary of consolidated financial
		statements
	� 76 EPRA
04	� 87 Ascencio on the stock exchange
� 90 Corporate governance declaration
1 2 8	F I N A N C I A L R E P O R T
	132	Consolidated financial statements
	188	Statutory accounts
	194	Glossary of Alternative Performance
		Measures
1 9 8	R I S K F A C T O R S
2 0 8	G E N E R A L I N F O R M AT I O N
	210	Identification
	217	Legal framework
	221	Declarations
2 2 4	G L O S S A R Y

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Contents