Home Invest Belgium SA · EURONEXT:HOMI
Home Invest Belgium SA — FY2025 Earnings Presentation
38 slides from Home Invest Belgium SA's earnings presentation, Feb 12, 2026
Slide 1: Company Presentation 31 December 2025
COMPANY * PRESENTATION 31 December 2025 REGULATED INFORMATION Home Invest Belgium
Slide 2: Landlord of choice
Landlord of choice We offer more than just a place to live. We provide our tenants with a place to build their lives in properties that shape vibrant communities. It is our explicit ambition to be the “landlord of choice” for tenants. © Home Invest Belgium 12/02/2026 2
Slide 3: Topics
Topics 1. Company profile 2. Real estate portfolio 31 December 2025 3. Key activities FY 2025 4. Financial results FY 2025 5. HOMI share 6. Outlook © Home Invest Belgium 12/02/2026 3
Slide 4: Company profile
Company profile
Slide 5: Home Invest Belgium (HOMI) at a glance
Home Invest Belgium (HOMI) at a glance Listed Belgian REIT € 371 mio market capitalisation As on 31 December 2025 − Number 1 owner and manager of residential properties in Belgium Group Van − Listed on Euronext Brussels since 1999 Overstraeten 30,3% − A specialist with 25+ years of experience… Free
Slide 6: Home Invest Belgium (HOMI) at a glance
Home Invest Belgium (HOMI) at a glance • Biggest sector within the real estate market with a need for professionalization Residential real • Limited impact from business cycles on the letting market estate • Limited impact from disruption • Responds to the primary human need for housing • In-house t
Slide 7: Real estate portfolio 31 December 2025
Real estate portfolio 31 December 2025
Slide 8: Strong growth track
Strong growth track € 967 million portfolio value € 1000m € 900m € 800m € 700m € 600m € 500m € 400m € 300m € 200m € 100m € 0m 2004 1999 2005 2008 2009 2000 2001 2002 2003 2006 2007 2020 2021 2022 2023 2024 2025 2018 2010 2011 2012 2013 2014 2016 2017 2019 2015 8
Slide 9: Specialist in residential real estate
Specialist in residential real estate > 90% of the portfolio is residential real estate 9
Slide 10: Located in Belgium (92%) & The Netherlands (8%)
Located in Belgium (92%) & The Netherlands (8%) With a strong presence in the Brussels Capital Region (>70% of the portfolio) The Netherlands 8,3% Flemish Region 11,3% Walloon Region 8,9% Brussels Capital Region 71,4% 10
Slide 11: Strong presence in the Brussels Capital Region
Strong presence in the Brussels Capital Region − The biggest tenant market in Belgium − High proportion of tenants vs. owner- occupied − 60% tenants in Brussels − compared to 30% outside Brussels − Brussels the Capital of Europe − 1.2 mio inhabitants Brussels Belgium (outside Brussels) − Strong popu
Slide 12: Supporting megatrends in housing
Supporting megatrends in housing Urbanisation Decreasing household sizes % of Europeans living in cities (1) 90% 84% 85% 80% 77% 74% 75% 70% 70% 65% Ageing population 60% The share of 65+ in Belgium’s population will increase 55% from 20% in 2022 to 25% in 2050 (2) 50% 45% 2022 2050 40% 0-19 20-64 6
Slide 13: Young and sustainable portfolio
Young and sustainable portfolio More than 50% of the portfolio is younger than 10 years. Age of the portfolio Younger than 10 years > 50% of the portfolio Younger than 20 years > 80% of the portfolio 13
Slide 14: Compared to an outdated housing stock on the market
Compared to an outdated housing stock on the market Only 7% of the Brussels’ housing stock is younger than 40 years. This means there is a huge need and potential for new housing. 14
Slide 15: Strong energy performance
Strong energy performance Home Invest Belgium portfolio Brussels Capital Region 104 <100 254 100 kWh/m²/year kWh/m²/year kWh/m²/year kWh/m²/year Average primary energy Target primary energy Average primary energy Target for all housing units in consumption of the portfolio’s consumption of the portf
Slide 16: Key activities in FY 2025
Key activities in FY 2025
Slide 17: Acquisition of Jardin Leopold
Acquisition of Jardin Leopold Jardin Leopold – Laeken (Brussels) − A new built residential project with : - 56 housing units − 23 parking spaces − Very energy efficient building : − A target primary energy consumption below 45 kWh/m²/year (EPC A label) − Great location: − Near the centre of Brussels
Slide 18: Delivery of Jourdan 95
Delivery of Jourdan 95 Jourdan 95 – Saint-Gilles (Brussels) − The transformation of an outdated office building to : - 48 housing units − 55 parking spaces − Very energy efficient building : − Estimated average primary energy consumption of 42 kWh/m²/yr (energy label A) − Heated entirely with 3 coll
Slide 19: Delivery of City Dox
Delivery of City Dox City Dox (Lot 4) – Anderlecht (Brussels) − A new built residential project with : - 163 housing units - 132 parking spaces - 2 700 m² production facilities - Very energy efficient building : - Estimated average primary energy consumption of 30 kWh/m²/year (energy label A) - Geot
Slide 20: Renovation of Charles Woeste
Renovation of Charles Woeste Charles Woeste – Jette (Brussels) - Renovation the building Charles Woeste: - 92 housing units - 30 parking spaces - Building from the 1980s; has been in the portfolio for 25 years - Estimated average primary energy consumption after renovation of 88 kWh/m²/yr (= 27% ene
Slide 21: Development pipeline
Development pipeline Pipeline (with building permit) Name City # housing Delivery date Total cost Remaining CAPEX still units (expected) (expected) to be spent Jardin Leopold Brussels (Laeken) 56 Q4 2026 € 18 mio € 12 mio Total 56 € 18 mio € 12 mio Pipeline (renovation of existing buildings within t
Slide 22: Cityforward
Cityforward − Signing of the final agreement on 5 August 2025 − Between Cityforward and HOMI for the redevelopment of a property portfolio consisting of 17 obsolete buildings occupied by the European Commission to a new vibrant European quarter. − Cityforward will focus on the development of the off
Slide 23: Letting activities and occupancy rate
Letting activities and occupancy rate Strong letting activities in 2025 Lfl (like-for-like) rental growth of 4.0% in 2025 (year-on-year). High occupancy rate Average occupancy rate(1) in 2025 : Occupancy rate FY 2025 98.2% FY 2024 98.2% FY 2023 98.5% FY 2022 98.1% FY 2021 97.2% (1) The occupancy rat
Slide 24: Expiry of leasehold rights in Louvain-La-Neuve on 7 June 2026
Expiry of leasehold rights in Louvain-La-Neuve on 7 June 2026 • On 25 January 2013 Home Invest Belgium acquired leasehold rights on buildings CV9 CV10 and CV18 in Louvain-La- Neuve. The building rights have a residual term until 7 June 2026. • At the end of the leasehold rights UCL (as the grantor)
Slide 25: Financial results FY 2025
Financial results FY 2025
Slide 26: Key figures
Key figures Consolidated income statement (in € k) FY 2025 FY 2024 Δ Y-o-Y % growth Net rental result 38 590 36 351 2 239 +6.2% Property result 36 372 34 013 2 359 +6.9% (-) Property costs -3 547 -3 324 (-) General costs and other operating income -3 296 -2 773 Operating result before result on the
Slide 27: Key figures
Key figures EPRA earnings (in € k) FY 2025 FY 2024 Δ Y-o-Y % growth Net result (group share) 59 766 80 937 (-) Portfolio result -36 524 -64 234 (-) Changes in fair value of financial assets and liabilities -1 308 +6 344 (-) Non-EPRA elements of the share in the result of associates and joint venture
Slide 28: Key figures
Key figures Consolidated balance sheet (in € k) 31/12/2025 31/12/2024 Δ Y-o-Y % growth Total assets 987 481 901 069 86 412 9.6% Shareholders’ equity 518 818 484 437 34 381 7.1% Debt ratio (RECC-Act) (1) 48.14% 47.19% Debt ratio (IFRS) (2) 47.35% 46.30% NAV per share (in €) 31/12/2025 31/12/2024 Δ Y-
Slide 29: Financial structure
Financial structure Debt maturities € 180 m − Financial debt amounts to € 456.5 m € 160 m € 140 m - Drawn credit lines : € 399.0 m € 120 m - Bonds : € 49.0 m € 100 m 8 21 5 - Commercial Paper : € 8.5 m € 80 m 15 € 60 m 10 − Weighted average remaining duration of the financial debt of 89 20 € 40 m 86
Slide 30: HOMI share
HOMI share
Slide 31: Key figures per share
Key figures per share Key figures per share 31/12/2025 31/12/2024 31/12/2023 31/12/2022 31/12/2021 31/12/2020 Total number of shares issued (1) 20 200 136 20 200 136 19 708 766 17 917 060 16 499 290 16 499 290 Closing price of the share € 18.38 € 17.16 € 15.50 € 21.80 € 24.40 € 23.10 Market capitali
Slide 32: Key figures per share
Key figures per share Key figures per share FY 2025 FY 2024 FY 2023 FY 2022 FY 2021 FY 2020 Average number of shares (1) 19 941 604 19 888 873 18 701 976 17 106 685 16 442 734 16 440 730 EPRA earnings € 24.18 mio € 23.16 mio € 21.18 mio € 18.47 mio € 16.28 mio € 14.60 mio EPRA earnings per share € 1
Slide 33: Evolution of the share price & gross distribution per share
Evolution of the share price & gross distribution per share € 30,00 € 1,40 € 25,00 € 1,20 € 20,00 € 1,00 € 0,80 € 15,00 € 0,60 € 10,00 € 0,40 € 5,00 € 0,20 € 0,00 € 0,00 Gross dividend HOME INVEST BELGIUM - Share price 33
Slide 34: Stock price comparison
Stock price comparison Total return sinds 2008 700 600 500 500 427 400 300 255 200 100 - okt 2008 okt 2009 okt 2010 okt 2011 okt 2012 okt 2013 okt 2014 okt 2015 okt 2016 okt 2017 okt 2018 okt 2019 okt 2020 okt 2021 okt 2022 okt 2023 okt 2024 okt 2025 HOMI EPRA Eurozone Index BEL20 Index © Home Inves
Slide 35: Outlook
Outlook
Slide 36: Outlook
Outlook Strong residential rental market and solid operating figures in FY 2025 − Strong residential letting market with strong demand for qualitative housing has resulted in a high occupancy rate of 98.2% and lfl rental growth of 4.0%. − Solid operating margin of 76.5%. − Further increase in EPRA e
Slide 37: Outlook
Outlook EPRA earnings per share − For FY 2026 the company expects an increase in EPRA earnings per share to € 1.23 (compared to € 1.21 in 2025). Distribution to the shareholders − In 2025 Home Invest Belgium celebrated 25 consecutive years of dividend growth and rose to the rank of dividend aristocr
Slide 38: Public regulated real estate investment company under Belgian law
Public regulated real estate investment company under Belgian law Boulevard de la Woluwe 46/11 1200 Brussels Belgium +32 (0)2 899 43 21 | [email protected] | www.homeinvest.be