PR Newswire
AMSTERDAM, April 22, 2026
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 2026The 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 2025The 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 EUR1,000 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.
(*EUR1,000) 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 EUR0.04 per share (EUR * 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.
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.
S
tatement of Consolidated Financial Position
as at 31 December 2025
(*EUR1,000) 31 December 31 December
2025 2024
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
(*EUR 1,000) 31 December 31 December
2025 2024
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]
for the year ended 31 December 2025
(*EUR1,000) 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 (*EUR1) 0.47 0.45
Diluted earnings per share (*EUR1) 0.47 0.45
Statement of Consolidated Comprehensive Income
for the year ended 31 December 2025
(*EUR1,000) 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
(*EUR1,000) 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
excluding cash and cash equivalents
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
acquired
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
December
Statement of Consolidated Changes in Equity
for the year ended 31 December 2025
(*EUR1,000) Share Share Currency Legal General Total Non- Total
capital premium Translation reserves reserve attributable controlling Equity
Reserve to
shareholders interest
247 49,172 1,646 -6,293 45,641 8,606 54,247
868
Balance at 31
December 2024
Result for the – 2,446 2,446 1,446 3,892
year
Other – -2,747 -2,747 -736 -3,483
comprehensive
income
Total – -2,747 2,446 -301 709 409
comprehensive
income
Transfer to legal – 1,386 -1,386
reserves
Dividend – -2,359 -2,359 -2,359
Distribution to – -899 -899
non-controlling
interest
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
(*EUR1,000) Share Share Currency Legal General Total Non- Total
capital premium Translation reserves reserve attributable controlling Equity
Reserve to
shareholders interest
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
year
Other – 2,256 2,256 388 2,644
comprehensive
income
Total comprehensive income – 2,256 2,344 4,600 2,731 7,331
Non-controlling – 4,015 4,015
interest acquired
Transfer to legal – 868 -868
reserves
Dividend – -590 -1,769 -2,359 -2,359
Share-based payment – 1,436 1,436
Distribution to – -415 -415
non-controlling
interest
Other – -30 -30 -30
Balance at 31 247 49,172 1,646 868 -6,293 45,641 8,606 54,247
December 2024
[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).
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