in thousands of EUR | Notes | 2019 | 2018 |
|---|---|---|---|
Net income | 6,047 | 6,792 | |
General and administrative costs | - 6,291 | - 6,792 | |
Operating result | - 244 | - | |
Net financial result | -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.