AMSTERDAM, April 22, 2026 /PRNewswire/ — New Amsterdam Invest N.V. (the “Company”, or “New Amsterdam Invest”, or “NAI”), a Dutch commercial real estate company listed on Euronext Amsterdam, announces its annual results and annual report for the financial year 2025, today.
Aren van Dam, ceo New Amsterdam Invest commented:
“With modest pride we report on New Amsterdam Invest 2025 results. The financial year 2025 marked another important year for New Amsterdam Invest N.V., during which the Company continued to develop its activities to deliver on our strategy of both stable growth and maintain a balanced portfolio of value to our shareholders”.
For the financial year 2025 we achieved an operational result of € 9.4 million. The net rental income for the same financial year amounted to € 11.9 million resulting in a profit of € 3.9 million after tax of which € 2.5 million is attributable to our shareholders. During the financial year, we once again were able to pay our shareholders dividend of € 0.45 per share, which result in a total distribution to our shareholders of € 2.4 million.
At year–end, the total appraised value of the property portfolio of NAI amounted to € 118 million. These investments are financed through shareholders’ equity, bank loans of € 58 million and related–party loans of € 7 million. The cash position at the balance sheet date was € 13.5 million. This should be viewed in relation to the € 11.0 million in two–year loans obtained from investors towards the end of the financial year 2025.
The Company operates in a challenging environment with risks of significant currency exchange differences, partly due to the present turbulent geo-political and economic conditions. We believe that the long-term focus of our strategy and our operations are our strength.
New Amsterdam Invest wants to position itself as a dividend stock. Consequently, we aim to meet our financial and quantitative parameters, which include a yearly dividend pay-out. As management we are confident to build NAI further and to be well on track to reach the articulated financial objectives of the Company.
Financial Highlights[1]
- Rental Income 2025: € 18.5 million
- Net Rental Income 2025: € 11.9 million
- Result 2025 after non-controlling interest: € 2.5 million
- Earnings per ordinary share: € 0,47
- Total investment property 2025YE: € 118.0 million
- Total Equity 2025YE: € 51.4 million; before non controlling interest € 43.0 million
- Cash generated from operations 2025: € 9.3 million
- Solvency 2025YE: 37.7%
Strategic Highlights
On 30 September 2025 New Amsterdam Invest N.V announced a new financing initiative to support the acquisition of investment properties. The Company offered to issue €10 million in loans to market parties at an annual interest rate of 5% and a term of two years, with a minimum subscription per party of € 100,000. Interest will be paid annually in arrears. This two-year loan has been subscribed to by 60 investors for a total amount of € 10,970,000.
In line with its strategy, the Company signed a preliminary purchase agreement in November 2025 to acquire Fairfax Center. The total consideration amounts to approximately $ 11 million. Fairfax Center was built in 1988 and renovated in 2020. The leasable area is 55,891 sq.ft, of which 1,813 sq.ft is vacant. The occupancy rate is therefore 97%. The rental income for 2026 is estimated at € 1.6 million. This transaction is not included in the financials 2025, as the settlement occurred 15 January 2026.
To strengthen the equity position at Somerset Park Holding UK, the Company’s management board has decided to partially convert both the loan provided by New Amsterdam Invest N.V. to Somerset Park B.V. and the loan provided by Somerset Park B.V. to Somerset Park Holding UK Ltd into share premium as of 1 October 2025.
Outlook 2026
The net rental income for 2026 for the Company is expected to be approximately € 13.7 million. For 2026 the Company expects an operating result before tax of € 6.8 million. This result includes Fairfax Center, but does not include valuation differences, transaction costs and/or exchange differences.
Business overview 2025
The results of 2025 from group companies have been included within the Company’s results. The net rental income amounts to € 11.9 million (prior year € 7.7 million). The result before taxation for the financial year 2025 amounts to a profit of € 4.8 million (prior year € 6.2 million). Included in this profit is the negative valuation differences 2025 in the amount of € 0.4 million (prior year € 2.8 million positive).
During the financial year of 2025, it was decided to change the accounting treatment of certain contracted lease incentives in the property valuation reports for our US properties. As a result, changes have been made to the comparatives in the annual report 2025 to correct an error in the previous period related to the valuation of the investment properties. The foregoing has an impact on the consolidated net result 2024 of negative € 470k and on the group equity as of 31 December 2024 of negative € 500k. This adjusted treatment is applied in the financial statements for 2025.
Further we note that the expected loss on the VAT receivable for the amount of € 330k, as included in the general and other expenses, has been charged to the result in the financial year 2023 and has been fully released in 2024, as a result of the positive decision by the tax authority’s.
Property portfolio
|
The breakdown of the investments per property at Year-End is as follows: |
|||
|
In €1,000 |
2025 |
2024 |
|
|
Interra Remington, Houston |
43,157 |
48,111 |
|
|
Somerset House, Birmingham |
18,004 |
18,490 |
|
|
Travelodge, Edinburgh |
14,634 |
13,907 |
|
|
One Park Ten, Houston |
13,289 |
16,547 |
|
|
Blythswood Square, Glasgow |
9,645 |
10,557 |
|
|
Sutherland House, Glasgow |
8,325 |
9,190 |
|
|
Forthstone, Edinburgh |
10,898 |
10,738 |
|
|
Total investments at fair value |
117,952 |
127,540 |
Of the total 2025 net rental income of € 11,9 million, 59% was generated in the USA and 41% in the UK.
Cash flow, and cash position
The following table sets out the main items of the Company’s consolidated cash flow statement for the financial years 2025 and 2024.
|
(*€1,000) |
2025 |
2024 |
|
Cash flows from operating activities |
4,645 |
3,124 |
|
Cash flows from investing activities |
-3,643 |
-1,339 |
|
Cash flows from financing activities |
8,069 |
-2,166 |
|
Net movement in cash and cash equivalents |
9,071 |
-381 |
|
Impact of exchange differences on cash and cash equivalents |
-683 |
-12 |
|
Total movement in cash and cash equivalents |
8,388 |
-393 |
The cash flow from investing activities in 2025 mainly relates to the investment in lease improvements. The cash flow from financing activities in 2025 mainly relates to the proceeds from the two-year loan received from third-party investors. These funds were raised to support the acquisition completed in early 2026 of the Fairfax Center.
Share Capital and Share Price
|
Number of shares |
|||
|
Type of shares |
% |
31 December 2025 |
|
|
Ordinary shares issued to investors, admitted listing and trading |
74,6 |
3,910,250 |
|
|
Ordinary shares issued to the Promoters (Cornerstone Investment), admitted to listing and trading |
24,0 |
1,257,789 |
|
|
Promoter shares |
1,4 |
73,653 |
|
|
Priority shares issued to Sichting Prioriteit New Amsterdam Invest |
0,0 |
5 |
|
|
100,0 |
5,241,697 |
||
|
Ordinary shares owned by the Company (Treasury Shares) |
943,558 |
||
|
Shares in total |
6,185,255 |
||
|
Share capital at €0.04 per share (€ * 1,000) |
247 |
||
The ordinary share price at Euronext Amsterdam closed at € 8.75 on 31 December 2025 (31 December 2024: € 9.00)
Events after balance sheet date
On 15 January 2026, the Company completed the acquisition of the Fairfax Center office building through its newly formed subsidiary, Somerset Fairfax LLC. The acquisition was executed in accordance with the terms of a preliminary purchase and sale agreement originally entered on 7 November 2025. As the transaction was completed only in 2026, it has no impact on the financial statements for the year ended 31 December 2025. The total consideration, including purchase price, transaction costs and tenant improvements, amounted to $ 11 million.
Annual General Meeting scheduled for 5 June 2026 DV
The convocation, explanatory notes, written proxy and further documentation for the AGM
will be available in Dutch and English. All relevant documents are available in the download section of NAI’s website https://www.newamsterdaminvest.nl/#downloads.
The agenda for the AGM includes various items, amongst others, the adoption of the annual
accounts as published today, and the reappointment of BDO Audit & Assurance B.V. as external independent auditor of NAI for the fiscal year ending 31 December 2026. Full details of all voting items are published on NAI’s website. The annual report of NAI relating to the financial year ending on 31 December 2025 published 22 April 2026, including the financial statements, the reports of the management board and supervisory board and the remuneration report, have also been published on the Company’s website.
Financial Calendar
- 22 April 2026, publication Annual Report 2025.
- 22 April 2026, publication Agenda General Meeting of Shareholders 6 June 2026 DV.
- 28 August 2026, DV interim financials 2026 results publication.
P&L and Balance Sheet New Amsterdam Invest 2025
An overview of the main financial statements of New Amsterdam Invest in 2025 is provided in the following tables attached to this press release, for more detailed information we refer to the annual report 2025 as published on the NAI website.
- Statement of Consolidated Financial Position as at 31 December 2025 (2024)
- Statement of Consolidated Profit and Loss for the Year 2025 (2024)
- Statement of Consolidated Comprehensive Income for the year 2025 (2024)
- Consolidated Cash Flow Statement for the year ended 31 December 2025 (2024)
- Statement of Changes in Equity for the year ended 31 December 2025 (2024)
About New Amsterdam Invest
New Amsterdam Invest N.V. is a Dutch commercial real estate company listed at Euronext Amsterdam with operating companies in the United States and the United Kingdom.
The main objective of New Amsterdam Invest is to run commercial activities including the owning, (re-)developing, acquiring, divesting, maintaining, letting out and/or otherwise operating commercial real estate, all in the broadest possible meaning.
All information about New Amsterdam Invest can be found on the company website: www.newamsterdaminvest.com
Disclaimer
Elements of this press release contain or may contain information about New Amsterdam Invest N.V. within the meaning of Article 7(1) to (4) of the EU Market Abuse Regulation.
This press release may include statements, including NAI’s financial and operational medium-term objectives that are, or may be deemed to be, ‘forward-looking statements”. These forward-looking statements may be identified by the use of forward-looking terminology, including the terms ”believes”, ”estimates”, ”plans”, ”projects”, ”anticipates”, ”expects”, ”intends”, ”may”, ”will” or ”should” or, in each case, their negative or other variations or comparable terminology, or by discussions of strategy, plans, objectives, goals, future events or intentions.
Forward-looking statements may and often do differ materially from actual results. Any forward-looking statements reflect NAI’s current view with respect to future events and are subject to risks relating to future events and other risks, uncertainties and assumptions relating to NAI’s business, results of operations, financial position, liquidity, prospects, growth or strategies. Forward-looking statements speak only as of the date they are made.
|
Statement of Consolidated Financial Position |
||||
|
(*€1,000) |
31 December |
31 December |
||
|
Assets |
||||
|
Non-current assets |
||||
|
Investment property |
117,952 |
127,540 |
||
|
Property, plant and equipment |
1 |
3 |
||
|
Deferred tax assets |
347 |
402 |
||
|
Other non-current assets |
3,647 |
926 |
||
|
Total non-current assets |
121,947 |
128,871 |
||
|
Current assets |
||||
|
Accounts receivable |
556 |
769 |
||
|
Value added tax receivable |
52 |
360 |
||
|
Other assets and prepaid expenses |
213 |
612 |
||
|
Cash and cash equivalents |
13,485 |
5,097 |
||
|
Total current assets |
14,306 |
6,838 |
||
|
Total assets |
136,253 |
135,709 |
||
|
Statement of Consolidated Financial Position |
||||
|
as at 31 December 2025 |
||||
|
(*€ 1,000) |
31 December |
31 December |
||
|
Equity and Liabilities |
||||
|
Equity |
||||
|
Share capital |
247 |
247 |
||
|
Share premium |
49,172 |
49,172 |
||
|
Currency translation reserve |
-1,101 |
1,646 |
||
|
Legal reserves |
2,254 |
868 |
||
|
General reserves |
-7,590 |
-6,293 |
||
|
Attributable to owners of the parent |
42,982 |
45,641 |
||
|
Non-controlling interest |
8,417 |
8,606 |
||
|
Total equity |
51,399 |
54,247 |
||
|
Non-current liabilities |
||||
|
Loans bank |
57,847 |
63,720 |
||
|
Loans related party USA |
6,613 |
5,072 |
||
|
Loans private investors |
10,970 |
– |
||
|
Deferred tax liability |
886 |
1,139 |
||
|
Total non-current liabilities |
76,317 |
69,931 |
||
|
Current liabilities |
||||
|
Trade payables |
670 |
425 |
||
|
Tax liabilities |
1,711 |
2,049 |
||
|
Current account related party |
886 |
337 |
||
|
Deferred rental income |
2,083 |
1,179 |
||
|
Loans bank |
443 |
408 |
||
|
Loans related party USA |
– |
2,340 |
||
|
Other short-term liabilities |
2,744 |
4,793 |
||
|
Total current liabilities |
8,537 |
11,531 |
||
|
Total liabilities |
84,854 |
81,462 |
||
|
Total equity and liabilities |
136,253 |
135,709 |
||
|
Statement of Consolidated Profit or Loss[2] |
|||
|
(*€1,000) |
2025 |
2024 |
|
|
Rental income |
18,465 |
11,262 |
|
|
Direct related costs |
-6,585 |
-3,560 |
|
|
Net Rental income |
11,880 |
7,702 |
|
|
Revaluation of investment property |
-347 |
2,787 |
|
|
Legal and professional fees |
354 |
322 |
|
|
Personnel expenses |
825 |
826 |
|
|
Administrative and overhead expenses |
649 |
488 |
|
|
General expenses |
319 |
298 |
|
|
Other expenses |
16 |
-276 |
|
|
Total expenses |
2,163 |
1,658 |
|
|
Operating result |
9,371 |
8,831 |
|
|
Financial income and expense |
-4,620 |
-2,633 |
|
|
Result before tax |
4,751 |
6,198 |
|
|
Income tax |
-859 |
-1,511 |
|
|
Result for the period |
3,892 |
4,687 |
|
|
Result attributable to: |
|||
|
Shareholders |
2,446 |
2,344 |
|
|
Non-controlling interest |
1,446 |
2,343 |
|
|
Result for the period |
3,892 |
4,687 |
|
|
Basic earnings per share (*€1) |
0.47 |
0.45 |
|
|
Diluted earnings per share (*€1) |
0.47 |
0.45 |
|
|
Statement of Consolidated Comprehensive Income |
|||
|
for the year ended 31 December 2025
|
|||
|
(*€1,000) |
2025 |
2024 |
|
|
Result for the period |
3,892 |
4,687 |
|
|
Items which may be recycled to profit or loss (net of tax) |
|||
|
Exchange differences |
-3,483 |
2,644 |
|
|
Total comprehensive income |
409 |
7,331 |
|
|
Attributable to: |
|||
|
Shareholders |
-301 |
4,600 |
|
|
Non-controlling interest |
709 |
2,731 |
|
|
Total comprehensive income |
409 |
7,331 |
|
|
Statement of Consolidated Cash Flows |
|||
|
for the year ended 31 December 2025 |
|||
|
(*€1,000) |
2025 |
2024 |
|
|
Operating activities |
|||
|
Result before tax |
4,751 |
6,198 |
|
|
Adjustments |
|||
|
Depreciation |
-1 |
5 |
|
|
Unrealised foreign exchange loss / (gain) |
363 |
– |
|
|
Adjustment to rental income |
23 |
-150 |
|
|
Reversal of impairment on VAT receivable |
– |
-330 |
|
|
Revaluation of investment property |
347 |
-2,787 |
|
|
Interest income and expense |
4,218 |
2,795 |
|
|
Total adjustments |
4,949 |
-467 |
|
|
Changes in working capital |
|||
|
Increase in current liabilities |
-2,216 |
44 |
|
|
Decrease/(increase) in current assets |
1,008 |
-610 |
|
|
Increase/(decrease) in trade payables |
793 |
518 |
|
|
Total changes in working capital |
-415 |
-48 |
|
|
Cash generated from/(used in) operations |
9,285 |
5,683 |
|
|
Interest paid |
-4,282 |
-2,637 |
|
|
Interest received |
54 |
78 |
|
|
Income taxes paid |
-412 |
– |
|
|
Cash flow from operating activities |
4,645 |
3,124 |
|
|
Investing activities |
|||
|
Investments in investment property, net of cash |
-1,618 |
-980 |
|
|
Investments in tenant improvements |
-2,025 |
-358 |
|
|
Investments in property, plant and equipment |
– |
-1 |
|
|
Cash flow from investing activities |
-3,643 |
-1,339 |
|
|
Financing activities |
|||
|
Proceeds from loans |
11,334 |
530 |
|
|
Repayment of loans |
-374 |
-261 |
|
|
Dividends paid |
-1,993 |
-2,019 |
|
|
Distribution to non-controlling interest |
-899 |
-415 |
|
|
Cash flow from financing activities |
8,069 |
-2,166 |
|
|
Movement Cash and cash equivalents |
9,071 |
-381 |
|
|
Cash and cash equivalents as at 1 January |
5,097 |
5,490 |
|
|
Exchange differences |
-683 |
-12 |
|
|
Cash and cash equivalents as at 31 |
13,485 |
5,097 |
|
| Statement of Consolidated Changes in Equity
for the year ended 31 December 2025
|
|||||||||
|
(*€1,000) |
Share |
Share |
Currency |
Legal |
General |
Total |
Non- |
Total |
|
|
247 |
49,172 |
1,646 |
868
|
-6,293 |
45,641 |
8,606 |
54,247 |
||
|
Balance at 31 |
|||||||||
|
Result for the |
– |
– |
– |
– |
2,446 |
2,446 |
1,446 |
3,892 |
|
|
Other |
– |
– |
-2,747 |
– |
– |
-2,747 |
-736 |
-3,483 |
|
|
Total |
– |
– |
-2,747 |
– |
2,446 |
-301 |
709 |
409 |
|
|
Transfer to legal |
– |
– |
– |
1,386 |
-1,386 |
– |
– |
– |
|
|
Dividend |
– |
– |
– |
– |
-2,359 |
-2,359 |
– |
-2,359 |
|
|
Distribution to |
– |
– |
– |
– |
– |
– |
-899 |
-899 |
|
|
Balance at 31 December 2025 |
247 |
49,172 |
-1,101 |
2,254 |
-7,591 |
42,982 |
8,417 |
51,399 |
|
| Statement of Consolidated Changes in Equity
for the year ended 31 December 2024
|
|||||||||
|
(*€1,000) |
Share |
Share |
Currency |
Legal |
General |
Total |
Non- |
Total |
|
|
247 |
49,762 |
-610 |
-5,970 |
43,430 |
840 |
44,270 |
|||
|
Balance at 31 December 2023 |
– |
||||||||
|
Result for the |
– |
– |
– |
– |
2,344 |
2,344 |
2,343 |
4,687 |
|
|
Other |
– |
– |
2,256 |
– |
– |
2,256 |
388 |
2,644 |
|
|
Total comprehensive income |
– |
– |
2,256 |
– |
2,344 |
4,600 |
2,731 |
7,331 |
|
|
Non-controlling |
– |
– |
– |
– |
– |
– |
4,015 |
4,015 |
|
|
Transfer to legal |
– |
– |
– |
868 |
-868 |
– |
– |
– |
|
|
Dividend |
– |
-590 |
– |
– |
-1,769 |
-2,359 |
– |
-2,359 |
|
|
Share-based payment |
– |
– |
– |
– |
– |
– |
1,436 |
1,436 |
|
|
Distribution to |
– |
– |
– |
– |
– |
– |
-415 |
-415 |
|
|
Other |
– |
– |
– |
– |
-30 |
-30 |
– |
-30 |
|
|
Balance at 31 |
247 |
49,172 |
1,646 |
868 |
-6,293 |
45,641 |
8,606 |
54,247 |
|
[2] Please note that the increase in rental income and expenses is primarily due to the fact that Remington House is included in the figures for 2.5 months in 2024 (2025 whole financial year).
View original content:https://www.prnewswire.co.uk/news-releases/new-amsterdam-invest-nv-annual-results-and-annual-report-2025-302750462.html
