Chapters
Annual Report 2019

Income Statement

in thousands of EUR

Notes

2019

2018

Net income

2

6,047

6,792

General and administrative costs

3

- 6,291

- 6,792

Operating result

- 244

-

Net financial result

4

-742

- 773

Result before tax

-986

- 773

Income tax

1,029

403

Result from subsidiaries after income tax

178,440

216,648

Result for the year

178,483

216,278

GrandVision has applied IFRS 16 at 1 January 2019, using the modified retrospective approach. Under this approach, comparative information is not restated and the cumulative effect of applying IFRS 16 is recognized in retained earnings. The accompanying notes are an integral part of these parent financial statements.