Ethical Property Europe Annual Report · Ethical Property Europe Annual Report 2016 l 3 This Annual Report covers the period from October 2015 to September 2016. It is designed to

Ethical Property Europe Annual Report

Foreword - Managing DirectorPréambule - Administrateur DéléguéInleiding - Afgevaardigd Bestuurder ................................ 04

Management Report .......................................................... 06Our centres .............................................................................. 06Our future projects ................................................................. 14In focus ...................................................................................... 16Environmental performance ............................................... 18Social performance ............................................................... 20Our staff .................................................................................... 22

Ethical Property Europe .................................................... 24The company in a nutshellL’entreprise en brefHet bedrijf in een notendop ................................................ 24Our board ................................................................................. 27Members of the Ethical Property family ......................... 28

Financial performance ...................................................... 30

Ethical Property Europe Annual Report 2016 l 3

This Annual Report covers the period from October 2015 to September 2016. It is designed to demonstrate openly the Triple Bottom Line nature of the company by reporting in equal measure our social, financial and environmental achievements. Our intention is to communicate in a clear and transparent way with our shareholders and all stakeholders.

Ethical Property Europe abides by a range of social, environmental and financial performance targets that are set out in a document called the ‘Quintessentials’, shared by the Ethical Property Family members. References to these targets can be found throughout this report.

As we work in a multilingual environment, you will find that parts of this document are written in three languages (Fr, En, Nl), and some others in one of these three languages.

Ce rapport annuel couvre la période d’octobre 2015 à septembre 2016. Il est conçu de manière à mettre en évidence notre philosophie du triple bilan au travers de la description de nos résultats sociaux, financiers et environnementaux. Notre objectif est de communiquer de manière claire et transparente avec nos actionnaires et partenaires.

Ethical Property Europe s’est engagé à atteindre des objectifs de performance sociale, environnementale et financière qui sont fixés dans un document appelé « Les Quintessentielles», partagé par tous les membres de la famille Ethical Property. Vous trouverez régulièrement des références à ces objectifs dans ce rapport.

Etant donné que nous travaillons dans un environnement multilingue, nous avons décidé de rédiger certaines parties de ce rapport en trois langues (En, Nl, Fr), et d’autres parties dans une seule de ces langues.

Dit jaarverslag beslaat de periode van oktober 2015 tot september 2016. Het wil inzicht verschaffen in de ”triple bottom-line” van ons bedrijf door in gelijke mate te rapporteren over onze verwezenlijkingen op sociaal, financieel en ecologisch gebied. We willen duidelijk en transparant communiceren tegenover onze aandeelhouders maar ook tegenover onze partners.

Ethical Property Europe verbindt zich ertoe sociale, ecologische en financiële doelstellingen te realiseren, beschreven in het document «De Quintessentials», onderschreven door alle leden van de Ethical Property familie. U vindt verschillende verwijzingen naar deze doelstellingen in dit rapport.

Aangezien we in een meertalige omgeving werken, hebben we beslist sommige delen van dit verslag in drie talen (en, fr, nl) op te stellen, en andere delen in slechts één van deze talen.

4 l Ethical Property Europe Annual Report 2016

Dear Reader,

We have the pleasure of sharing the seventh edition of the Ethical Property Europe annual report with you. This report is an opportunity for our team to assess the work that has been achieved and share the highlights of the year with our tenants, shareholders and partners.

At the time of writing, we are about to begin building our fourth Mundo centre, in Antwerp. Funds raised last year achieved the necessary amounts, making this possible. This is our first new building, a bioclimatic building which will be an example in terms of sustainable and user-friendly construction. This will also be our first project in Flanders. We can’t wait to see this long-term project finished.

We are also working on the building of a fifth Mundo centre, once again in Brussels. This is to respond to increasing demand with which our two centres located in the capital can no longer cope. In fact, Brussels is one of the European cities with the highest density of associations and NGOs!

Finally, our three existing Mundo centres are currently home to almost 150 organisations, giving higher priority to small and very small associations. Notable focal points for social change, our centres provide high-quality infrastructure and services to ensure our tenant organisations can perform their activities in optimal conditions.

You will find more thorough information on our activities and future developments in the body of this report. We hope you enjoy reading it.

Frédéric AncionManaging Director


Madame, Monsieur,

Nous avons le plaisir de vous présenter la septième édition du rapport annuel d’Ethical Property Europe. Sa réalisation constitue, pour notre équipe, l’occasion de mesurer le travail accompli et de communiquer les éléments marquants de l’année à nos locataires, partenaires et actionnaires.

A l’heure d’écrire ces lignes, la construction du quatrième centre Mundo d’Ethical Property, à Anvers, est sur le point de démarrer. Cela a été rendu possible grâce à la levée de fonds organisée l’année dernière qui a permis de réunir les montants nécessaires. Il s’agit de notre première construction neuve, un bâtiment bioclimatique qui sera un exemple en termes de construction durable et conviviale. Ce sera également notre premier projet en Flandre. Nous sommes impatients de voir ce projet de longue haleine aboutir.

Par ailleurs, nous travaillons également à ériger un cinquième centre Mundo, à Bruxelles à nouveau. Il s’agit de répondre à une demande croissante à laquelle nos deux centres situés dans la capitale ne permettent plus de répondre. Bruxelles est en effet une des villes qui connaît la plus haute densité européenne d’associations et d’ONG !

Enfin, nos trois centres Mundo existants hébergent à présent près de 150 organisations, donnant de plus en plus la priorité aux petites voire très petites associations. Points de chute incontournables du secteur associatif, ils fournissent des infrastructures et des services de qualité afin que les organisations locataires puissent y mener leurs activités dans des conditions optimales.

Vous trouverez de plus amples informations sur nos activités et futurs développements dans la suite de ce rapport. Nous vous en souhaitons bonne lecture.

Frédéric AncionAdministrateur Délégué

Mevrouw, Mijneer,

We hebben het genoegen u de zevende editie van het jaarverslag van Ethical Property Europe voor te stellen. De samenstelling ervan vormt voor ons team telkens weer een gelegenheid om in kaart te brengen wat we verwezenlijkten, en om onze aandeelhouders en partners te laten weten wat er het afgelopen jaar in het bijzonder gebeurde.

Op het moment van het opstellen van deze tekst staan de werkzaamheden voor de bouw van het vierde Mundo-centrum van Ethical Propety, in Antwerpen, in de steiger. Dit werd mogelijk gemaakt door de kapitaalverhoging van vorig jaar, die de nodige fondsen heeft verzameld. Het project in Antwerpen gaat over onze eerste nieuwbouw, een bio-klimatisch gebouw dat een schoolvoorbeeld van duurzaam bouwen zal worden. Het zal ook ons eerste project in Vlaanderen zijn. We kijken naar de verwezenlijking van dit langdurig project uit.

We werken daarnaast ook aan het ontwikkelen van een vijfde Mundo-centrum, weer in Brussel. We willen er een antwoord op de continüe vraag naar kantoren bieden, want onze beide centra van de hoofdstad zijn volzet. Brussel is uiteraard een van de steden met de belangrijkste aanwezigheid van organisaties en NGO’s.

Verder bleven onze drie Mundo-centra op volle kracht functioneren. Momenteel zijn er 150 organisaties gehuisvest, en we geven steeds meer de voorrang aan kleine tot zeer kleine organisaties. Onze centra groeiden uit tot gevestigde waarden in het maatschappelijk middenveld. Ze bieden infrastructuur en diensten van hoge kwaliteit, die het de er gevestigde organisaties mogelijk maken in optimale omstandigheden hun activiteiten te ontplooien.

Meer uitgebreide informatie over onze activiteiten en toekomstplannen vindt u verderop in dit verslag. We hopen dat u het met plezier zult lezen.

Frédéric AncionAfgevaardigd bestuurder


as nature’s elements. These 8,000 events mainly involved our own members, but also about 250 external associations which rented our infrastructures. Welcoming external associations and hundreds of visitors a year also offers us an excellent chance to increase the visibility of the buildings and to heighten the internal dynamic.

To consolidate links between members, this year we organised several events and activities, such as themed evenings, film screenings and debates, barbecues, etc. More formally, every quarter we produce a newsletter covering the news and info from our tenant associations, and which every member receives. To highlight our tenants’ work, every two months, our café-restaurants put on an exhibition on a specific theme.

Well-being at work is also a fundamental element for a

The past year has been a year of intense mobilisation for our members. Climate and migration issues, as well as global justice issues have rarely been as acute. The COP21, the influx of refugees from the Middle-East and free trade agreements have formed many of the cases on which civil society has taken a stand as defendant of the common good and general interest. We are pleased to have been able to make our Mundo centres available to these movements so that our infrastructures and services are contributing to supporting reflection, criticism and action. We therefore saw, among other things, dozens of climate activists gathering in our offices before going on to express their anger and desire for a better world.

No less than 8,000 events or meetings took place in our meeting and conference rooms this year, although they were not all as spectacular as activists disguised

Highlightsz Full occupancy of

our office spaces at the year end

z Our centres served as headquarters of several direct actions and demonstrations asking for global and climate justice

z New look for some of our conference facilities


our extranet, which allows our members to circulate their news or info to the community of members in the centre, or publicly. We have also launched Facebook and LinkedIn pages for our buildings. Interns are helping us to develop specific tools for our communications strategy. For example, developing a series of posters aimed at environmental communication, designing media and posters for our meeting rooms, etc. This communication work will continue in 2017.

We also spent the Summer giving a new look to our meeting rooms and more especially the rooms rented to external associations. We invested in adaptable modular furniture and worked on the decoration and greenery in the communal spaces. Feedback has been very positive.

stimulating working environment. This is why we have been pleased to welcome initiatives in this direction. In Mundo-b and Mundo-j, massage sessions are held several times a month, and yoga classes are held every week. In Brussels and Namur, we have partnered with the Red Cross who organises blood donation sessions for our members several times a year.

Last year, we started along an important road in the area of communications. We have continued this project this year and have developed the interactive section of

A recognised “Exemplary Buidling” and labelled as an Eco-Dynamic Enterprise, Mundo-b is a pillar of the alternative and sustainable trend in Brussels. The centre is still THE benchmark in this area, both for the design and management of the building, and for the consistency of activities carried out by the members based there. As a leading light for sustainable and citizens' initiatives, we are attracting a large amount of progressive players for informal meetings.

In figures• Operating since: June 2009• Location: Brussels, Porte de Namur• Property: 3800 m²• Activities: Offices / Coworking / Conference facilities • Offices let: 2200 m² - 37 organisations• Hive (co-working space): 24 organisations• 8 meeting rooms - 1 conference room• Other facilities: restaurant - library - 2 gardens• Labels: « Bâtiment Exemplaire », Eco-dynamic

company

z Our members

ALTER-EU Civil society groups concerned with corporate lobbyists in Europe

Association 21 Works to accelerate the emergence of sustainable development

Climate Action Network Europe (CAN) Works to limit climate change to ecologically sustainable levels

Central Eastern Europe (CEE) Bankwatch Network

Prevents the harmful impacts of international development finance


Corporate Europe Observatory (CEO) Targets the economic and political power of corporations and their lobbies

European Volunteer Center* Network of volunteer centres & support agencies across Europe

Counter Balance EIB Coalition of NGOs challenging public investment banks

European Coalition for Corporate Justice (ECCJ)

Unites and represents civil society organisations in 15 European countries

ECORES Sustainable development consultancy firm founded by Groupe One

European Environmental Citizens’ Organisation for Standardisation (ECOS)

Increases the ecological performance of products

End Female Genital Mutilation European network (End FGM)

Aims at an EU definitive strategy to end FGM and to protect women

Equilibre Promotes personal development as a tool for social and economic change

ERGO Network Empowerment and mobilisation of the Roma people

European Network on Debt and Development (EURODAD)

Works on issues related to debt, development finance and poverty reduction

Fairtrade Belgium Develops fair trade agreements in the agricultural sector in the south

Forests & the European Union Resource Network (FERN)

Works on forests and forest peoples’ rights in the European Union

Financial Transparency Coalition Global network addressing opacity in the international financial system

Friends of the Earth Europe (FOEE) Campaigns for sustainable societies and environmental protection

Food & Water Europe Monitors the practices of multinationals that impact our food and water

Global Health Advocates Fights diseases that disproportionately affect people living in poverty

Good Planet Promotes and educates to sustainable development and water management

Groupe One Economists working towards a more responsible economy

Habitat & Humanisme Social housing projects development organisation

Jeunes & Nature Young naturalists’ organisation

Kamilou Caterer of Mundo-b and Mundo-j

Mental Health Europe* Represents organisations active in the field of mental health and well-being

Natagora Promotes nature conservation to the public

Netwerk Bewust Verbruiken (NBV) Network for sustainable and responsible consumption

Quinoa NGO facilitating voluntary work in southern countries

RENDEV* Advice in the renewable energy sector in Europe and overseas

Repair together Helps and supports local initiatives in the sustainable use of resources

RREUSE Works on reuse and recycling issues

Safe Food Advocacy Europe (SAFE) Improves the representation of citizens in the debate regarding food regulation

Saferworld Network preventing armed violence and creating safer communities

Seas at Risk Works to protect and restore the marine environment of the European seas

Terre des hommes International Federation

Works for children’s rights, promoting equitable development

Werkgroep voor een Rechtvaardige en Verantwoorde Landbouw (WERVEL)

Works on sustainable agricultural development overseas and locally

* New Members


z Hive Members (coworking space)

@vitam.org Stimulates the local and global cooperation for sustainable development

ABECE Environmental advisors grouping

ADC Memorial Human rights advocacy and protection of minorities in Russia

Be Planet Foundation supporting innovating actions in favour of the environment

Centre for the Advancement of Civil Society Organisations * (CEACSO)

Works for the empowerment of civil society organisations in Europe

Change Partnership Platform focused on sustainable development

Center for International Environmental law* (CIEL)

Provides legal services in environmental law, including education

European Network of Environment professionals

Platform for an international exchange of environmental experts

Enercoop* Renewable energy supplier

Esperanta Civito* Promotes the development of Esperanto as a universal language

Ethisch Vegetarisch Alternatief (EVA) Promotion of and training for vegetarian food consumption

FoodWatch Control of the food industry

Frank Bold Develops legal frameworks for corporate accountability in Eastern Europe

Global Campus Alumni Network of Alumni in human rights

Global Fair Impact investing in future markets of disfavoured regions

Global Water Institute* Provides water-related services for environment security and well-being

Institut Eco Conseil Training institute for environmental management

International Security Sector Advisory Team (Division of DCAF)

Consultancy on security and justice in conflict-affected and fragile states

Les Jardins de Pomone Biodiversity conservation

Nuclear Transparency Watch Counter-expertise in the field of nuclear safety

Refugees are not alone* (RANA) Accompanies refugees to help them start a new life in autonomy

Slow Food Slow Food movement

Surfrider Sustainable management of the ocean and coastline

Union Européenne Contre les Nuissances Aériennes (UECNA)

Voice of all residents living in the vicinity of airports in Europe

* New Members


z Our members

Access-i Information portal on accessibility of public spaces and buildings

Amis de la Terre Educates the public to environment-friendly behaviours

Be Planet* Foundation supporting innovating actions in favour of the environment

CNCD - 11.11.11 Coalition of NGOs striving for more solidarity with southern countries

Droits Quotidiens Legal advice and support for disadvantaged people

Dynamo International Organisation active to support children and youth in the south

écoconso Promoting environmental and healthy consumption patterns

Empreintes / CRIE de Namur Awareness raising and training of youth to ecological values

Eocene Group Web & IT creative solutions for NGOs

Faune & Biotopes Federation linking actors concerned with rural land management

Fédér. Francophone de Karaté et Arts Martiaux Affinitaires

Federation organizing karate activities and competitions

Fédér. Francophone d'Equitation et d'Attelage de Loisirs

Promotes equestrian leisure and tourism

Fédér. Inter-Environnement Wallonie Federation of Walloon environmental organisations

Fédér. Pluraliste des Centres d'Expression et de Créativité

Promotes the cultural and creative sector in Brussels and Wallonia

Forêt Wallonne Promotes forests in Wallonia

GRACQ* Represents the interests of cyclists in French-speaking Belgium

Institut Eco-Conseil Offers training for eco-counsellors

Ligne Bois Promotion of wooden and sustainable construction

Ligue des Familles Promoting families’ common interests

Management Tools Company* Offers IT solutions for the building sector companies* New Members

Mundo-n has experienced a resurgence in positive energy this year. Several new organisations have joined us and many of them have brought with them a strong desire to benefit as much as possible from the collaborations and synergies available as a result of being based in Mundo-n. The year ended on a high, as we succeeded in renting out an area which had been empty for a long time, so now all our office space is rented out.

In figures• Operating since: November 2010• Location: Namur, 600m from railway station• Property: 3200 m²• Activities: Offices / Coworking / Conference facilities• Offices let: 1900 m² - 37 organisations• Hive (co-working space): 16 organisations• 5 meeting rooms - 3 training rooms - 1 conference

room• Other facilities: restaurant – garden


Natagora Nature protection association

Natagriwal Informs and advises about the Natura 2000 European programme

Objectif 2050 Develops tools and skills for the reduction of greenhouse gas emissions

Oxfam-Magasins du Monde Association active in the fair trade sector

Papagallo Caterer of Mundo-n

Plain Pied Specialises in accessibility for people with limited mobility

Plateforme Service Citoyens Aims at the creation of a Belgian volunteer service

Pôle Wallon de Gestion Différenciée Advice and trainings on the environmental management of green spaces

Réseau Idée Environmental education information network

Ressources Federation of social economy organisations active in recycling goods

Sentiers de Grandes Randonnées Promotes, creates and maintains walking paths

Sentiers.be Association for the defense and promotion of paths and trails

SIREAS Social support to migrants and regufees

SPADE* Communication specialists focusing on mobile solutions

Union des Etudiants de la Communauté Française

Students’ union

Union Nationale des Agrobiologistes Belges

National union of Belgian organic producers

Valorisation touristique des parcs et jardins historiques de Wallonie

Promotes Wallonia’s listed gardens and outstanding heritage

* New Members

z Hive Members (coworking space)

Association pour la Promotion des Energies Renouvelables (APERe)

Organisation promoting renewable energy

Biowallonie Coaching of the organic agriculture sector

Cercle des Naturalistes Belges Grouping of youth and adults interested in nature

Emission Zéro Citizens’ cooperative investing in renewable energy production plants

Extra and Ordinary People!* (EOP) Awareness-raising in the field of disability

Fédér. des Centres Pluralistes de Planning Familial

Federation of family planning centres

FSC Belgium Supports sustainable forestry and promotes FSC labelled products

Grignoux Cultural centre

Groupe One Economists working towards a more responsible economy

Jeunes et Nature* Young naturalists organisation

ODICCEES* Awareness-raising in the field of sustainability

Pirotech Consultancy in thermal energy and energy savings

Présence et Action Culturelles* Cultural organisation active in education and empowerment

Probila Unitrab Union of suppliers of organic food

Rescoop Group of citizens that cooperate in the field of renewable energy

Végétik* Promotion of and training for vegetarian food consumption


In figures• Operating since: May 2014• Location: Brussels, European district• Property: 3200 m²• Activities: Offices• Offices let: 2000 m² - 34 organisations• 7 meeting rooms• Other facilities: restaurant, 2 terraces

There have been a few changes in Mundo-j's offices this year. Three member organisations have ceased operations, which shows that even at a European level, the NGO sector is still vulnerable. Two out of three of the offices have been allocated to other members who were wanting to extend. We have also taken on a new tenant.

Life in Mundo-j, organised by floor, is fairly dynamic. Partnerships between members are common, and the tenants on some floors have spontaneously agreed to organise a series of get-togethers, which are also opportunities for exchanges and fulfilment at work. Among these are the monthly host tables and also the Mundo-j Academy. This latter initiative consists of regular meetings with specific themes to promote the exchange of good practice and continuous training, through the use of experts. Communication, project management, accounting and human resources are, amongst others, discussed.

z Our members

ActionAid Campaigns for a strong focus of EU aid policies on the fight against poverty

Alter Visio Young LGBTQ association active in Brussels and Wallonia

Bornefonden - Childfund Global network of child-centred development organisations

Concord European confederation of Relief and Development NGOs

EAHAD* Association of healthcare professionals focusing on hemophilia

EDUCO* Development organisation focusing on children’s rights and education

European Association for the Education of Adults

Promotes adult learning and access to non-formal adult education

European Hemophilia Consortium Works to improve the quality of life for people suffering from hemophilia

European Microfinance Network Promotes microfinance as a tool to fight social and economic exclusion

European Network on Independent Living (ENIL)

Represents the disability movement for human rights and social inclusion

European Solar Thermal Electricity Association (ESTELA)

Promotes solar thermal electricity in Europe and the MENA region

European Student's Union (ESU) Promotes the interests of over 20 million students

* New Members


European Youth Forum Platform bringing together millions of young people from all over Europe

Fondation pour les Générations Futures

Strives to pass on a liveable world to current and future generations.

IGLYO Network of LGBTQ groups, with 80+ members from across Europe

International Disability and Development Consortium (IDDC)

Promotes full enjoyment of human rights by people with disabilities

Jane Goodall Institute Belgium Promotes respect for all living things – Animals, People, and the Environment

Kind & Samenleving Seeks active participation of children and youth in society

Liberation Route Europe Foundation* Promotes Europe’s Liberation Route and values of peace and freedom

Life Long Learning Platform Umbrella association active in the field of education and training

Light For the World Fights against blindness in poor countries and defends disabled people’s rights

Missing Children Europe European Federation for Missing and Sexually Exploited Children

Organising Bureau of European School Student Unions (OBESSU)

Platform of national school student unions active in secondary education

Secretariat of the Eastern Partnership Civil Society Forum

Platform strengthening civil society in the framework of the Eastern Partnership

SOS Children’s Villages International EU Office of the umbrella organisation of SOS Children’s Villages

Transparency International - EU Office Works for corruption free European institutions and promotes integrity

Transparency International Belgium Promotes integrity and the fight against corruption in Belgium

Vita International Media content company specialized in non-profit

Vlaamse Scholierenkoepel Association "for and by pupils", umbrella organisation of pupils’ councils

Vlaamse Vereniging van Studenten Flemish Association of Students

World Association of Girl Guides and Girl Scouts (WAGGGS)

Platform of Girl Guiding and Girl Scouting Associations in Europe

World Organization of the Scout Movement (WOSM)

Global youth movement with members active all over Europe

Young Men's Christian Association* (YMCA)

Supports more than 40 national YMCA movements throughout Europe

Youca Organisation by and for young people to fight for a just society

* New Members


Antwerp is the second largest city in Belgium and is home to a flourishing scene of social change organisations. The Mundo-project in Antwerp started with the initiative of a group of Antwerp organisations who wished to jointly convert a building in an ecological way and to use it for setting up their offices with shared functions and services. VIBE, the Flemish Institute for bio-ecological building and living, and Pixii (formerly the Passive House Platform) were among these organisations who entered in a cooperation with Ethical Property 6 years ago.

The project will be built on a site offered by the city of Antwerp with a 50 years long-lease. It is situated next to the “Ecohuis”, an initiative of the city where everyone can receive advice in respect of sustainable renovation, energy-saving and urban gardening, which perfectly tie in with Mundo-a. Furthermore, it is well located: only one kilometre away from the central train station, with a bus and tram stop in front. A metro station is also due to open right underneath Mundo-a.

Backed by the expert advice from VIBE and PIXII, Ethical Property is conceiving a building that will be an example of sustainable construction. It will be a passive house made essentially with sustainable materials, with a visible structure consisting entirely of wood. Mundo-a will have a floor area of 2,200 m², offering working space to approximately 170 persons, employed by around 25 organisations. It will include 4 meeting rooms, a roof terrace, a common reception area, a bicycle parking and lounge. There will also be a green and pleasant courtyard where community events will take place and where everyone can enjoy the terrace of the EcoCafé.

In 2016, Ethical Property raised 1,5 million € from investors, which together with bank loans, is sufficient to finance the whole project. The work is due to start in early 2017 and the centre will open at the beginning of 2018.

z www.mundo-a.org


Our 2 existing centres in the capital, Mundo-b and Mundo-j, are already full and the demand coming from the not-for-profit sector for our offices is high. There are an increasing number of organisations willing to co-create Mundo-like centres, but most of them lack the skills and financial means to do it themselves and are keen to get involved with EPE. It would thus be consistent for Ethical Property to open a 3rd centre in Brussels soon.

Several properties have been envisaged. In early 2017, the most advanced option concerns a 4000 sqm property located in saint Gilles, a well-located municipality known for its dynamism.

As mentioned in the past, we are willing to establish a centre that combines more functions than we previously had such as an ethical shop, social housing, a crèche and a health centre among others. It would be a consistent urbanistic approach, where the different users and functions would be complementary. Such a project would be strongly supported by local authorities.

For the housing, EPE plans to collaborate with Urbani, a company specialized in green buildings for co-housing. They develop co-housing where the inhabitants rent rooms or apartments, they don’t buy them. Collaborating with Urbani would offer Ethical Property several advantages including sharing the development costs, benefiting from economies of scale and gathering the skills and strengths of both teams.

This new project would require additional investment and could see the day within a scope of 2 to 3 years.


En juillet 2013 commençaient les négociations autour du TTIP (Transatlantic Trade and Investment Partnership), ce merveilleux accord de libre-échange devant permettre d’harmoniser (par le bas) les normes sociales, environnementales, sanitaires et phytosanitaires qui s'imposent aux entreprises et permettre aux entreprises de poursuivre les Etats devant des juridictions privées parce qu'ils auraient, de par leur action politique, entravé le commerce de ces dernières.

Dès 2013, la société civile s’est organisée pour sensibiliser les citoyen-ne-s européens et accompagner leur mobilisation contre ce type d’accord. En Belgique, à travers l’Alliance D19-20 d’abord (alliance d’agriculteurs-trices, de collectifs, de syndicats, d’ONG, etc.), dont Quinoa est membre fondateur, et d’autres collectifs citoyens ensuite. En 2016, une initiative a vu le jour : les TTIP GAME OVER. Cette initiative invite des collectifs de citoyen-ne-s désobéissants à mener des actions directes contre le TTIP et le CETA (accord UE – Canada) en complément des manifestations de masse organisées par les plateformes associatives. Cette initiative a rencontré un très grand succès et a permis à un nombre significatif de citoyen-ne-s (environ 500) de perturber, interpeller, bloquer les acteurs clés des négociations, et ce en vue d’augmenter l’attention des médias et la pression sur les négociateurs, tout en créant du lien et en s’amusant bien sûr ! Quinoa a eu la chance de soutenir cette initiative, en collaborant à la formation des activistes, et en offrant un appui administratif au mouvement. Pourquoi une association comme Quinoa a-t-elle soutenu ce mouvement ? Parce que face au caractère antidémocratique des négociations, à leurs impacts sociaux et environnementaux potentiels, et face à la difficulté de se faire entendre, Quinoa partage le constat qu’avoir recours à l’action directe et la désobéissance, est à la fois légitime, pertinent, et nécessaire.

z https://ttipgameover.netz http://www.d19-20.be/

contre les accords de libre échange…. 2016, l’année des TTIP Game Over

Founded by renowned primatologist Jane Goodall, the Jane Goodall Institute is an international nonprofit organisation that empowers people to make a difference for all living things. Our work builds on Dr. Goodall’s scientific work and her humanitarian vision. Specifically, we seek to:• Improve global understanding and treatment of great

apes through research, public education and advocacy.• Contribute to the preservation of great apes and their

habitats by combining conservation with education and promotion of sustainable livelihoods in local communities.

• Create a worldwide network of young people who have learned to care deeply for their human community, for all animals and for the environment, and who will take responsible action to care for them.

Our work in Belgium concentrates on the development of our youth program Roots & Shoots that involves thousands of students who act for positive change in our world. We provide workshops in schools addressing different topics linking conservation and society, create awareness raising campaigns and environmental events, like our yearly tree planting action “Forest in One Day”. The strength of Roots & Shoots is its global network of youth all around the globe that share a common goal and exchange experiences. They truly think globally and act locally.

JGI Belgium financially supports various community conservation projects in Burundi, the Democratic republic of Congo and Senegal as well as the chimpanzee rehabilitation center Tchimpounga in the Republic of Congo.

z www.janegoodall.be


la dynamique des jeunes volontaires d’Empreintes

Empreintes mobilise des jeunes pour qu’à leur tour ils sensibilisent d’autres jeunes aux enjeux de l’environnement et du développement durable. Ils peuvent, par exemple, écrire en tant que journalistes engagé-e-s au sein de l’équipe de rédaction du trimestriel Bulles Vertes. L’objectif de la revue est d’informer et d’interpeller la jeunesse sur les valeurs et l’enjeu de l’écologie, mais aussi de les inciter à s’engager par des gestes quotidiens, en militant pour des causes ou dans des associations ou en exprimant leur opinion. La particularité ici c’est que ce sont des jeunes qui s’adressent à d’autres jeunes à propos des questions qui les préoccupent.

Certains volontaires rejoignent le PAVE (Pôle des animateurs/trices volontaires environnement) tandis que d’autres préfèrent créer l’évènement lors de festivals ou manifester avec le Groupe d’Action.

La quatrième proposition concerne plus particulièrement les étudiants de l’enseignement supérieur (universités et hautes écoles). En effet, le « RZO » rassemble des étudiants engagés dans des projets environnementaux ou de développement durable. Il regroupe actuellement des jeunes porteurs d’une vingtaine de projets situés à Huy, Ciney, Namur, Bruxelles, Louvain-la-Neuve, Gembloux… Les objectifs du réseau sont de renforcer les actions existantes, favoriser l’émergence de nouveaux projets, permettre l’échange de bonnes pratiques, créer des liens interpersonnels entre les étudiants engagés et permettre à certains étudiants de se sentir moins seul dans leur engagement.

Suivant le fil de l’éducation permanente Empreintes recourt aux méthodologies « Ecoleader » et de l’éducation par les pairs pour que les jeunes soient davantage acteurs de leur environnement.

Pour découvrir ces propositions d’engagement ou les faire connaître aux jeunes de votre entourage, n’hésitez pas à consulter notre site.

z www.bullesvertes.be z www.ecocracs.be


Our heating consumption was significantly reduced this year in our three centres, and by up to 40% in Mundo-n. Electricity consumption has also decreased in Mundo-n and Mundo-b, which as a result are displaying almost exceptional energy performance. However, technical problems with the pellet-fired boiler in Mundo-n explain the lower consumption of pellets. Modifications and

We produce some of our electricity thanks to our 150m² solar panels installed on the roofs of Mundo-n and Mundo-b. Solar energy supplies 6% of our needs in these two buildings.

The rest of our electricity comes from 100% renewable and non-nuclear sources. We actually select suppliers from the market which have the best environmental score. This is outstanding compared to the traditional Belgian electricity supply sources, of which 60% are nuclear and only 12% come from renewables, as the graphs below show.

improvements are planned to remedy this problem. In Mundo-j, a building which isn't owned by us, heating consumption is reasonable, and the higher electricity consumption is caused by the use of the air-conditioning in the summer. But we are still very close to our "best practice" target.

Mundo-b Mundo-n Mundo-jEPE Best

practice

standard office

building

consumption (kWh/m²/year) 2015 2016 2015 2016 2015 2016woodchips 22 20 23 9 - -gas 39* 34 13* 14 59 57Total heating consumption 61* 54 36* 23 59 57 60 113Consumed electricity 48 47 40 37 75 76Generated electricity 3 3 3 3 - -Total electricity consumption 51 50 43 40 75 76 60 125total energy consumption 112* 104 79* 63 133 133 120 238

INuclear power plants: 61%

IRenewable energy (Windturbines, hydraulic,...): 12 %

Gas-fired power plants: 27%I

z Belgian energy mix

IHydroelectric: 20,1%

ISolar: 13,6%

Wind: 38,8%I

Biomass: 27,5%I

z Mundo centres energy mix

* Figures restated : gas volume conversion coefficient restated on the basis of the provider’s figures for more accuracy.


The excellent location of our centres, their convenient accessibility with public transport and our great cycling infrastructures enable us to minimise travelling to work

by car. 83% of our members use an alternative method of transport to the car to come to work, which is quite unique.

Mundo-b has been recognised as an Eco-Dynamic Enterprise since 2011. At the end of the year, we also put Mundo-j forward to obtain this label and are beginning

our three-year action plan to improve our environmental impact. As a priority, the measures will concern waste management.

IPublic Transports: 43%

ICar: 16%

ICar-sharing: 1%

Cycling: 25%I

Walking: 15%I

Several factors enable us to have a well-managed CO2 impact: very energy-efficient buildings, which therefore consume less; use of a renewable heating fuel: pellets;

and our exclusive renewable source of electricity. These factors combined have enabled us to avoid the emission of 426 tons of CO2 over the last year.

z In tons of CO2 Mundo-b Mundo-n Mundo-j Total EPEStandard

building of an equivalent size

Woodchips 2.2 1 - 3.2

Gas 24.5 9.2 36.3 70 233.5

Electricity 2.6 1.9 3.7 8.2 274.7Solar Panels -Total 29.3 12.1 40 81.4 508.2CO2 avoided 426.8

In Mundo-b and Mundo-n, our water consumption is similar to previous years. We remain in line with our BREEAM target. In Mundo-j, the quantity of water consumed is explained by the fact that the ventilation

system also uses water to humidify the ambient air in dry periods. Use of this system will be reduced as it is using too much water.

z Water consumption Mundo-b Mundo-n Mundo-j Average Breeam Satisfactory

Liters per person per day 14,8 15,2 29 19,3 15


As at 30 September 2016, our centres were housing 148 organisations or social enterprises. That’s an increase of 11% compared with last year. This figure includes the 40 members in our two co-working areas, incubators for start-up organisations and a base for organisations whose head office is located in another city.

Our members are mainly active in the area of the environment and sustainable development in a broad sense (37%). Then youth and education and global justice each represent 12 to 13% of the areas of action.

Our tenant structure has also changed slightly, as there are more and more small organisations joining us. 70% of our members are now associations having no more than 5 members of staff.

Environment 55Youth and Education 20Global Justice 17Minority issues 11Health 10Social business 8Overseas Development 7Local Community Development 7Civil Rights 4Community Arts 3Peace and conflict resolution 3Human Rights 3Total 148

I1 to 5: 70%

I11 to 20: 10%

6 to 10: 16%I

over 20: 4%I

z Staff members per organisation

z Areas of work

Every year we carry out a members' satisfaction survey to measure their appreciation of the services we supply and the infrastructures we provide. We consider a result of 3.5/5 as satisfactory and a mark of 4/5 equates to "best practice". You will find below a table with the overall results of the survey.

This year, several factors had markedly improved compared with last year: the quality/price ratio of the

rent was judged to be satisfactory. The consistency of practices with our values was also marked higher. And among the most appreciated factors, we are again citing the support of our members' objectives, and also infrastructures adapted to their needs.

The points to be improved are IT services, cleanliness of the offices and heating and ventilation.

Mundo-b Mundo-n Mundo-jOverall satisfaction with management and facilities 2015 2016 2015 2016 2015 2016Management of the centre 3,8 3,7 3,7 3,8 3,4 3,8Offices and meeting rooms 3,8 3,8 3,7 3,6 3,7 3,6Reception services 4,2 4,0 4,2 4,3 4,4 4,4Rental level value 3,5 3,8 3,3 3,6 3,4 3,8IT services 3,0 3,5 3,1 3,3 3,5 3,3Cleanliness 3,9 3,6 3,5 3,5 3,7 3,2Satisfaction with atmosphere of the centres and the opportunities they offer

Support to strategic objectives 4,1 4,1 4,1 3,8 4,4 4,1Consistency of practices with values 4,2 4,2 4,0 3,9 3,8 4,1Life and atmosphere of the centres 4,3 3,9 4,0 3,5 4,1 3,8Visibility 3,7 3,7 3,3 3,6 3,6 3,4Synergies and collaborations 3,7 3,5 3,5 3,3 3,9 3,8Sustainable Building 4,2 4,3 4,2 3,9 3,5 3,6Quality services 3,8 3,5 3,7 3,6 3,6 3,7Adapted facilities 4,0 4,0 4,2 3,9 3,6 3,9Transparent management 4,0 4,0 3,6 3,9 3,5 3,9Support to small organizations 3,4 3,4 3,3 3,4 3,2 3,4Average quotation (global) 3,8 3,8 3,7 3,6 3,7 3,7



Our social performance is not only determined by the facilities we offer to our clients and tenants. Supplier selection is also a key factor in our social impact. This is why we favour partnerships with social economy companies and employment social firms. These enterprises supply us with the following services: supply of furniture or reclaimed building materials, cleaning, garden maintenance, printing, recycling of hazardous or electronic waste, delivery by bike, fruit and vegetable delivery, renovation work on the offices. This year, we have worked with the following social businesses: Rotor, Baïta, Dioxyde de Gambettes, Le Coursier Mosan, Den Diepen Boomgaard, Le Petit Liège, EcoTop, CF2M, Badger, Energie 2030, etc.

There are 17 people in our team, 59% of whom are women. There have been a few changes in the team this year. Three colleagues left us, two for a change in career direction and the third to look after her children. We haven't replaced all those who have left. The policy in

some of our centres has been to slightly reduce staffing to reduce costs. At the beginning of 2017, we took on a facility manager to expand the "Building Management" hub. The profiles within the structure continue to specialise, a pledge of greater professionalism.


This year we have achieved much in the area of human resources management, and more specifically in skills management, the development of these and the introduction of a training plan intended to expand the skills of every member of the team. Almost all members of the team are registered in a training programme at the current time. As a result we are making a significant

We aim to give young people an opportunity to have their first experience in the world of work by having them on the team for a minimum of 3 months as part of a professional traineeship (generally paid). This year, we took on two young people for a total cumulative period of 9 months and supported them as much as

investment in continuous training for our employees. Furthermore, thanks to the introduction of new evaluation tools, we are also planning to better measure our professionalism and better define our strategic objectives. Staff members have welcomed the new tools with interest, and they have enabled us to significantly increase the team's cohesiveness.

possible while giving them responsibilities so they could test and develop their talents. We appreciate the fruitful discussions which the trainees bring to us, with their new perspective on our activities. And we aim to give them a taste of working in a social and inclusive structure.

z Staff Statistics 2015 2016Number of full-time staff 7 7Number of part-time staff 12 10Equivalent full-time posts 14,3 12,8Average occupancy 0,71 0,75Youngest staff member 30 34Oldest staff member 52 53Average age 42 44Highest paid worker € 54 353 € 56 952 Lowest paid worker € 22 022 € 22 022 Ratio of highest to lowest salary 2,5 2,6


Ethical Property Europe is a company with two objectives: to set up centres for social change organisations and to enable individuals and institutions to make a uniquely ethical investment. Our shareholders gain the security of a property based investment that offers a financial return as well as contributing to lasting social change.

Ethical Property Europe supports innovative and progressive organisations working for social change by taking care of their property needs. We develop and manage centres in major cities according to our ‘Mundo’ model. These centres are focal points for social change.

Ethical Property Europe est une société qui poursuit un double objectif : réaliser des centres pour les acteurs du progrès sociétal et proposer aux particuliers et aux ins-titutions un investissement éthique unique. Nos actionnaires bénéficient de la sécurité d’un investissement immobilier qui permet d’obtenir un retour financier, et de contribuer à une société plus durable.

Ethical Property Europe soutient les organisations innovantes et progres-sistes qui oeuvrent pour le change-ment sociétal, en s’occupant de leurs besoins en termes d’infrastructures et des services associés. Nous déve-loppons et gérons des centres dans les principales villes belges selon

Ethical Property Europe is een bedrijf dat een dubbele doelstelling nastreeft: centra opzetten voor acto-ren van maatschappelijke verande-ring, en personen en instellingen de mogelijkheid bieden om een unieke ethische investering te doen. De investeerders in het bedrijf krijgen de zekerheid van een op vastgoed gebaseerde investering die niet enkel financieel rendement biedt, maar ook bijdraagt tot een duurzame sociale verandering.

Ethical Property Europe steunt innovatieve en progressieve orga-nisaties die zich inzetten voor een betere wereld. Wij doen dit door ons te bekommeren om de vastgoed-behoeften van die organisaties. We


Our valuesOur philosophy consists of working in accordance with the principles that we define, namely an evolution towards a more ethical and sustainable society. For this reason, each action and each decision is taken based on the triple balance of People-Planet-Profit:

to contribute to a fair and equitable society; we are working to include all sections of society and to establish priority partnerships with service providers of the social economy and the sector of professional reorientation.

to minimise our environmental impact; we have set action plans for ourselves to improve our sustainability on a continuous basis.

to ensure that the profits from our activities are divided up fairly among the various stakeholders and that our business activity causes a positive and long-lasting impact.

The Mundo centresThe ‘Mundo’ model offers tenants professional office space, affordable rents, flexible and sympathetic management and facilities as well as services designed to meet their needs. They also become part of a working community where they can exchange skills and ideas under one roof. Communal facilities generally include meeting and conference facilities, a restaurant, reception, mail and copy services and where possible a garden designed as a haven for biodiversity. Properties are eco-renovated and managed to minimise energy and water use, waste, car travel and the use of harmful materials. In special cases, tenants may also benefit from part ownership of a centre.

We now manage office facilities totaling more than 10.000 m² in Brussels and Namur.

Through the creation of Mundo centres, we are pursuing the following objectives:

notre modèle ‘Mundo’. Ces lieux sont devenus des centres névralgiques du changement sociétal.

Nos valeursNotre philosophie de travail consiste à travailler selon les principes que nous défendons, à savoir une évolution de la société vers plus d’éthique et de durabilité. De ce fait, chaque action, chaque décision est entreprise à l’aune du triple bilan, Personne-Planète-Profit :

Pour contribuer à une société juste et équitable, nous oeuvrons à inclure tous les pans de la société et nous établissons des partena-riats privilégiés avec des presta-taires de l’économie sociale et le secteur de la réinsertion profes-sionnelle.

Nous mettons tout en oeuvre pour minimiser notre impact environ-nemental et nous nous sommes fixés des plans d’action pour nous améliorer continuellement en termes de durabilité.

Nous veillons à ce que les béné-fices de nos activités soient répartis équitablement entre les différentes parties prenantes et à ce que notre activité économique engendre des impacts positifs et pérennes.

Les centres MundoLe modèle ‘Mundo’ offre à ses loca-taires des bureaux avec des loyers abordables, des espaces flexibles et une gestion adaptée conçus pour répondre à leurs besoins. Les loca-taires deviennent membres d’une communauté de professionnels où ils peuvent échanger compétences et idées sous un même toit. Les équipements collectifs incluent géné-ralement une cafétéria, des salles de conférence et de réunion et, lorsque cela est possible, un jardin-refuge pour la biodiversité. Les immeubles sont éco-rénovés et écogérés afin de minimiser les consommations d’énergie et d’eau, les déchets, l’usage de la voiture, et les matériaux dangereux. Dans certains cas, les locataires peuvent être coproprié-taires du centre.

richten in verschillende grootsteden centra op en runnen die volgens ons Mundo-model. Deze centra staan in het teken van maatschappelijk engagement.

Onze waardenOnze arbeidsfilosofie bestaat erin te werken volgens de principes die wij verdedigen, namelijk versterking van het ethisch bewustzijn en meer duurzaamheid in de samenleving. Elke actie, elke beslissing steunt dan ook op de “Triple Bottom-Line”, People-Planet-Profit.

Om bij te dragen tot een eerlijke en rechtvaardige samenleving streven wij ernaar alle segmenten van de maatschappij te betrekken en werken we bij voorkeur samen met dienstverleners uit de soci-aal-economische sector en de beroepsherinschakeling.

Wij stellen alles in het werk om onze milieu-impact te beperken, en hebben actieplannen opgesteld om op het vlak van duurzaamheid steeds beter te presteren.

Wij zien erop toe dat de winst van onze activiteiten eerlijk wordt verdeeld tussen de belangheb-benden, en dat onze economische activiteit positieve en duurzame gevolgen heeft.

De Mundo-centraHet Mundo-model biedt huurders professionele kantoorruimten tegen betaalbare huurprijzen, een flexibel en behulpzaam management, en voorzieningen en diensten op maat van de behoeften van de huurders. De huurders worden deel van een werkgemeenschap waarbinnen ze kennis en ideeën kunnen uitwisselen onder één dak. De gemeenschap-pelijke voorzieningen omvatten doorgaans een café-restaurant, een congrescentrum, grote vergader-ruimten, en waar mogelijk een tuin ingericht als toevluchtsoord voor bio-diversiteit. De gebouwen worden op milieuvriendelijke wijze gerenoveerd en beheerd om het energie- en waterverbruik, de afvalproductie, het autogebruik en het gebruik van schadelijke materialen tot een


build and manage buildings that are highly efficient from an energy and environmental perspective

provide organisations with professional work spaces adapted to their needs

provide high-quality services and shared equipment

increase the visibility and accessibility of the organisations

promote synergies and collaboration between organisations

support the development of small organisations

ensure a transparent management of our buildings

Together with the other members of the Ethical Property family, our objective is to establish a network of centres across Europe to support the movement of social progress. At the present time, the Ethical Property Company in Great Britain owns and/or manages 23 centres. In France, Étic manages and/or owns 3 centres. In Australia, Ethical Property started in 2015 and has purchased 2 buildings.

Nous gérons actuellement des infrastructures à Bruxelles et Namur totalisant plus de 10.000 m².

Au travers de la création de centres « Mundo », nous poursuivons les objectifs suivants :

Construire et gérer des bâtiments très performants du point de vue énergétique et environnemental

Mettre à disposition des asso-ciations des espaces de travail professionnels et adaptés à leurs besoins

Fournir des services de qualité et du matériel partagés

Augmenter la visibilité et l’accessi-bilité des associations

Favoriser les synergies et collabo-rations entre associations

Soutenir le développement de petites associations

Assurer une gestion transparente de nos bâtiments

Ethical Property Europe fait partie d’une famille d’entreprises et d’or-ganisations qui se sont engagées à utiliser au mieux l’immobilier pour la société et l’environnement. Avec les autres membres de la famille Ethical Property, notre objectif est d’éta-blir un réseau de centres à travers l’Europe pour soutenir le mouvement du progrès sociétal. Actuellement, Ethical Property Company opère en Grande-Bretagne où elle possède et/ou gère 23 centres. En France, étic gère et/ou possède 3 centres. En Australie, Ethical Property a démarré en 2015 et a acquis deux bâtiments.

minimum te beperken. In bepaalde gevallen kunnen huurders mede-ei-genaar worden van het centrum.

We beheren momenteel centra in Brussel en Namen met een totale oppervlakte van meer dan 10.000 m².

Door het oprichten van "Mundo"- centra streven wij de volgende doelstellingen na:

Optrekken en beheren van gebou-wen met zeer hoge energie- en milieuprestaties;

Aan de verenigingen professionele werkruimten ter beschikking stel-len, aangepast aan hun behoeften;

Kwaliteitsdiensten en gedeeld materiaal leveren;

De zichtbaarheid en bereikbaar-heid van de organisaties verbete-ren;

De synergieën en samenwerkings-verbanden tussen organisaties bevorderen;

De ontwikkeling van kleine organi-saties ondersteunen;

Zorgen voor een transparant beheer van onze gebouwen.

Ethical Property Europe behoort tot een familie van ondernemingen en organisaties die zich inzetten om onroerend goed optimaal aan te wenden voor de samenleving en het milieu. Samen met de andere leden van de Ethical Property-fa-milie stellen wij ons tot doel in heel Europa een netwerk van centra uit te bouwen ter ondersteuning van sociale verandering. Momenteel is in Groot-Brittannië Ethical Property Company actief, waar het 23 centra bezit en/of beheert. In Frankrijk beheert en/of bezit Étic 3 centra. In Australië is Ethical Property in 2015 gestart en heeft nu al twee gebou-wen verworven.


z Anne Vleminckx non-Executive director and chairAnne graduated from the Catholic University of Leuven in 1975. She worked as a research assistant at the Centre for Economic Studies at the University before joining Generale Bank where in 1990 she became Manager for Corporate Communications. In 1996 she left the bank to become Vice Chairwoman of the management committee of the Brussels Stock Exchange where she was responsible for marketing and finance. She joined Agfa Gevaert in 2001 as head of Corporate Communication before becoming Chief Financial Officer in 2005. She left Agfa Gevaert in 2008. She now works as financial advisor.

z Frédéric Ancion Managing directorFrédéric trained as a bio-engineer specialised in economics. He has 16 years of experience in the development of environmental and collaborative projects. First employed in the non-governmental sector, Frédéric then set up his own consultancy company. He was instrumental in launching organic food cooperatives and has conducted a number of feasibility studies in the sustainable development sector.

Frédéric is the Managing Director of Ethical Property Europe. He has developed the company since 2007, purchasing, renovating and financing Mundo centres in Belgium and working on the development of future centres.

Frédéric is Chairman of the non-profit organization écoconso asbl.

z Paul Bellack non-Executive directorPaul started his career in the UK property industry in 1976 and became the fund manager for 19 years for Sun Life of Canada, running their 3 commercial property investment funds. In 1995, Paul set up his own property investment company which he still owns and run.

He currently sits on the board of various bodies: the Ethical Property Company (UK), the Social Justice Centre ltd, Ovesco Ltd – a community owned renewable company - and Thrive Developments Ltd.

z Pierre Collette non-Executive directorPierre holds a Master in Real Estate from the Solvay Business School and has 30 years of experience in the real estate sector in Belgium and abroad. Pierre has been an Equity Partner, member of the Board and then Senior Consultant at Cushman & Wakefield Belgium during many years.

He has now joined Allten, since November 2015 as Partner and member of the board and is in charge of the “Office letting & sales department” and “New development“. Pierre advises Ethical Property Europe on its property purchases.

z Gisèle Rosselle non-Executive directorGisèle obtained a Master’s Degree in Law from the University of Leuven in 1992, a post-graduate diploma in EC Law from the University d’Aix-Marseille III in 1993, and a post-graduate diploma in International Trade Law from the University of European Studies in Turin in 1994. She also holds an Executive Master’s Degree from INSEAD Business School (2013). She specializes on domestic and cross-border corporate / M&A transactions. Gisèle was admitted to the Brussels bar in 1994 and started her career at Allen & Overy in Brussels and London. Before joining Strelia in 2013, she was a partner at White & Case LLP Brussels.

Gisèle also served as Chair of several committees of the International Bar Association.


Ethical Property Europe is part of a family of four companies with similar activities and objectives, in Europe and more recently in Australia. Each company has shareholders and its own, independent management. The four companies are close, however, and have regular exchanges in terms of management, experience, staff and cross-investments, when this is relevant.

The Company in the UK has experienced a very positive year. Most notably, they have successfully completed the two largest transactions since the Company was established in 1998, with the sale of Development House (which was getting old and did not offer an ideal work environment to tenants anymore) and the purchase of The Green House, which will host many tenants of Development House. The sale of Development House generated £20m in post-tax profits, and provided the funds for the purchase and development of a new building, The Green House in Bethnal Green, East London, which will provide twice the amount of space as the previous building.

These transactions have had several knock-on effects; firstly, increasing their share price; secondly by increasing the liquidity of their shares, and thirdly; they have been able to invest in their internal capacity in terms of Human Resources and strategic Communications support.

Outside London they have opened their first Centre in Wales, Hastings House in Cardiff, and they are delighted to have the Big Issue as one of the first tenants in the building.

Over the year they have supported about 1,000 organisations, through the provision of workspace, conference space or IT support. As in previous years, they have received a strong endorsement from their tenants with 84% saying that being in our building helps them achieve their objectives.

Over the last year, they have seen a reduction in their average carbon emissions per by 17%. As their property portfolio develops, more of their Centres will become high performing green buildings, indeed The Green House is expected to achieve the highest energy standards, which will have an extremely positive impact on their overall performance.


The 2015/2016 year started with COP 21 negotiations, occurring at a dozen kilometers from MUNDO-M, Montreuil’s ETIC center. Many tenants provided media coverage of the official events or took part in the social mobilization, highly contributing to the liveliness of the place.

Castres’ ETIC center, Les Ateliers, opened in early 2016. This is a step further towards new kinds of ecosystems for ETIC as it is located in a small city (<50K inhabitants) and includes offices as well as commercial spaces including a grocery store and a restaurant offering products from local producers, a local radio station and a fair trade store.

In April, ETIC raised 1,4 M€, mobilizing 60 investors. A diversified shareholders base of 140 entities presently owns 4,6 M€ of ETIC’s capital, composed of 119 individuals and 21 ethical funds.

This new capital finances the refurbishment of HEVEA, Le CHÂTEAU and La HALLE. HEVEA opens in Lyon in end of 2016 and hosts social businesses and citizens in shared offices, a “changemakers preschool”, a restaurant and an event space. Le CHÂTEAU is a historic building opening in Nanterre in April 2017 with a park, shared kitchens for sustainable food enterprises, a food court and offices. La HALLE opens in September 2017 with a restaurant and a grocery store with local, sustainable products.

All of this is confirming that ETIC is scaling up (from 2 centers in 2015 to 5 in 2017), which means also that the company needs to invest in consolidation and reduce the growth in profit it enjoyed so far, for a year or two.

Ethical Property Australia started operating in Australia in 2015, with the management of the Donkey Wheel House, a heritage listed building in Melbourne. Donkey Wheel House hosts a social café and the Hub Australia among several other social companies.

Thanks to a partnership with The Australia Institute, a progressive think-tank based in the country’s capital, Canberra, Ethical Property also developed a second centre. The Canberra building (called Endeavour House) opened at the end of 2016 with the aim of creating a centre for progressive lobbying, where organisations seeking to effect positive social and environmental change could engage with politicians, journalists, civil servants and others to more effectively access the corridors of power.

This year, Ethical Property Australia made a big step forward with the establishment of a fund which will own EP Australia’s properties. Both above-mentioned properties have already been transferred into the fund, which is now seeking more capital in order to purchase a property in Sydney and beyond.


Management presents in this section our key financial indicators, the evolution of our activity and the interest of the directors in the capital of the company.

EPE SA which operates under the name Ethical Property Europe is the holding company with three subsidiaries which includes two operating companies Brussels Sustainable House SA (for Mundo-b) and Green Property SCRL (for Mundo-n). The third centre, Mundo-j, is operated directly by the holding company, as the property doesn’t belong to the EPE Group.

Shareholders have a direct stake in the holding company EPE SA/NV, the company from which dividends can be paid.

Management decided to present the result of the entire group to disclose the financial position and the operating performance. These financial statements have been prepared in accordance with the International Financial Reporting Standards for Small and Medium-sized Entities

(IFRS for SMEs) issued by the International Accounting Standard Board. The consolidation process has been performed by the company BDO.

The key aspects related to the financial statements concern the property operating result and the assessment of the fair value of the properties:

z All direct operating costs are allocated to the property operating result except the salary costs;

z The fair value of the properties has been assessed in November 2016 by Jones Lang LaSalle (JLL) based on the standards and ethical rules of the Royal Institution of Chartered Surveyors and the International Valuation Standards Committee.

z The valuation technique of JLL consists to value the property “in standard market condition” at the estimated sales value that could be obtained from an independent external party, less estimated costs to sell.

This year Ethical Property has raised money by issuing shares (774.000 shares at 1€ each) and convertible bonds (769.000 bonds at 1€ each). This operation has been undertaken in order to finance new projects, in particular Mundo-a in Antwerp. 13 existing shareholders and 13 new shareholders have subscribed to the operation.

At the level of the statutory entity (EPE sa/nv)

z The profit for the year amounts to €132.066 this year, which is a net improvement compared to €87.647 last year.

z The profit carried forward which can be distributed as dividend amounts to €131.650 (profit carried forward plus the result of this year minus the start-up costs and the appropriation to the legal reserve).

At consolidated level, the main evolutions are as follows:

z The property operating result increased from €1.289.158 to €1.384.265 this year.

z Management has undertaken a valuation of the properties, which resulted in an increase of €220.228 in the fair values.

z The EBITDA (Earnings before Interests, Taxes, Depreciation and Amortization or operating result + depreciations + amortization) increased from €466.568 last year to €838.876 this year. The higher EBITDA value is due to a higher operating result as well as an increase in the property values.

z The net cash generated from operating activities amounts to €806.257 instead of €1.102.695 last year. This decrease is mainly due to Mundo-j, where the rent free period (period free of rent offered by the landlord to EPE as a commercial reduction) expired during the year while it covered the whole previous year. The Cash & cash equivalents at the end of the year reach €1.924.951, resulting from the positive net cash result for the year as well as from the issuing of shares and bonds. This amount allows EPE to initiate and finance the construction of Mundo-a.

z The net result of the group amounts to €306.118. Taking into account third party interest (as MDD owns 50% of Mundo-b, their share in Mundo-b’s profit is deducted), the comprehensive income attributable to the owners of the Parent amounts to €200.230, compared to €68.401 in the previous year.

z Total equity before distribution of dividends amounts to €8.308.778. It includes a capital of €6.028.600, consolidated reserves of €258.895 and Amounts due to non-controlling interests of €2.021.283. This equity balance allows the group to disclose a Net Asset Value per share that has reached €1.04, which is the same as last year although 774.000 new shares were created.

z Based on the results of the group and those of the holding company, the management has decided to propose to the Annual General Meeting of Shareholders the payment of a dividend of €1.50 cents per share. It will leave some reserve to initiate a first buy-back of EPE’s shares this year.



z Size of shareholding Number of shareholders Number of shares % of all

shareholders% of

all shares2015 2016 2015 2016 2016 2016

From 1 to 50,000 shares 22 26 € 826 186 € 688 186 57% 11%From 50,001 to 100,000 shares 4 9 € 370 000 € 685 000 20% 11%From 100,001 to 250,000 shares 4 6 € 900 000 € 1 065 000 13% 18%From 250,001 to 500,000 shares 2 3 € 610 000 € 966 500 7% 16%More than 500,001 shares 2 2 € 2 548 414 € 2 623 914 4% 44%Total 34 46 € 5 254 600 € 6 028 600 100% 100%

The directors listed below served for all or part of the year. Their interests in the company's issued share capital as of 30 September 2015 were:

Frédéric Ancion 14.500Paul Bellack -Pierre Collette 4.500Gisèle Rosselle -Anne Vleminckx -


z BALANCE SHEET BILAN BALANS Year Exercice Boekoefening

ASSETS ACTIF ACTIVA 30 Sept 2016€

30 Sept 2015 €

Fixed assets Actifs Immobilisés Vaste Activa 3 334 168 3 296 261Start-up costs Frais d'établissement Oprichtingskosten

61 067 53 806

Intangible assets Immobilisations incorporelles Immateriële vaste activa

4 097 7 910

Tangible assets Immobilisations corporelles Materiële vaste activa

207 791 222 144

Investments Immobilisations financières Financiële vaste activa

3 061 214 3 012 400

Current assets Actifs Circulants Vlottende Activa 4 749 895 2 938 194Debtors of one year or more Creances à plus d’un an Vorderingen op meer dan een jaar

1 965 243 1 960 000

Storage Stock Voorraad

15 320 10 048

Project development Développement de projets Ontwikkeling van projecten

0 7 996

Debtors of less than one year Créances à un an au plus Vorderingen op ten hoogste een jaar

938 673 433 338

Cash at hand and in bank Valeurs disponibles Liquide middelen

1 807 753 224 376

Accruals Comptes de régularisation Overlopende

22 906 302 436

Total assets Total de l’actif Totaal der activa 8 084 064 6 234 454


z BALANCE SHEET BILAN BALANS Year Exercice Boekoefening

LIABILITIES PASSIF PASSIVA 30 Sept 2016€

30 Sept 2015 €

Equity Capitaux Propres Eigen Vermogen 6 168 079 5 346 389Share capital Capital Kapitaal

6 028 600 5 254 600

Reserves Réserves Reserve

27 641 21 037

GrantsSubsidesSubsidies

16 813 10 760

Carried over profit / lossBénéfice / perte reporté(e) Overgedragen winst / verlies

95 025 59 992

Debts Dettes Schulden 1 915 985 888 065Bonds Obligations Obligaties

769 000 -

Debts of more than one yearDettes à plus d'un anSchulden op meer dan een jaar

52 881 54 890

Deferred taxesImpôts différésVertraagde belastingen

8 658 5 541

Debts of less than one year Dettes à un an au plus Schulden op ten hoogste een jaar

218 321 314 617

Dividends of the year Dividendes de l'annéeDividenden van het jaar

90 429 91 956

Accruals Comptes de régularisation Overlopende

776 695 421 061

Total liabilities Total du passif Totaal der passiva 8 084 064 6 234 454

z PROFIT AND LOSS COMPTE DE RESULTATS RESULTATENREKENING

€ €

Turnover Ventes et Prestations Bedrijfsopbrengsten 1 319 015 1 289 240

Projects development activation Activation développement de projets Activeren van projectontwikkeling

-26 652 3 315

Expenses Coûts des Ventes et Prestations Bedrifjskosten

-1 306 896 -1 366 207

Directors or managers Administrateurs ou gérants Beheerders of zaakvoerders

-89 705 -82 913

Other goods and services Services et biens divers Diverse goederen of diensten

-710 354 -757 738


z APPROPRIATION ACCOUNT AFFECTATIONS ET PRELEVEMENTS RESULTATENVERWERKING

€ €

Profit/loss to be appropriated Résultat de l'exercice à affecter Te bestemmen resultaat van het boekjaar

132 066 87 647

Profit/loss carried over from last year Résultat reporté de l'exercice précédent Resultaat overgedragen van vorig boekjaar

59 992 68 682

Appropriation to reserves Dotations aux réserves Toevoeging aan het eigen vermogen

-6 603 -4 382

To the Legal reserves A la réserve légale Aan de wettelijke reserve

-6 603 -4 382

Dividends Dividendes Dividenden -90 429 -91 956

Profit/loss to be carried over Résultat à reporter Over te dragen resultaat

-95 025 -59 992

Year Exercice Boekoefening

30 Sept 2016€

30 Sept 2015 €

Salaries Rémunérations Bezoldigingen

-307 010 -297 996

Depreciation Amortissements Afschrijvingen

-63 142 -53 622

Project development and commercial value decrease Réduction de valeur développement de projets et créances Waardekorting projectontwikkeling en vorderingen

16 542 -17 168

Other charges Autres charges Andere Kosten

-153 227 -156 771

Gross profit Résultat d’exploitation Bedrijfsresultaat -14 533 -73 652

Interest receivable and other financial income Produits financiers Financiële opbrengsten

174 368 167 122

Interest payable Charges financières Financiële kosten

-29 241 -6 376

Profit on ordinary activities before taxation Résultat courant de l'exercice avant impôt Resultaat uit de gewone bedrijfsuitoefening

130 594 87 093

Exceptional revenues Revenus exceptionnels Ongewone opbrengsten - -

Profit before taxation Résultat de l'exercice avant impôt Resultaat van het boekaar voor belastingen

130 594 87 093

Transfer from the deferred taxes Prélèvement sur les impôts différés Overschrijving van de vertraagde belastingen

1 472 554

Profit/loss for the year Résultat de l'exercice Resultaat van het boekjaar 132 066 87 647


Note: The Consolidated financial statements illustrated in the annual report are a condensed summary of the full report that can be obtained upon request to Mr. Frederic Ancion (e-mail: [email protected]). The notes

and disclosures to the consolidated financial statements together with the audit report are excluded from this condensed version.

z CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

For the year ended 30 Sep 2016

€


€Rental Income and Other Operating Revenue 2 430 430 2 269 725 Property Expense -1 046 165 -980 567

Property Operating Result 1 384 265 1 289 158

Goods and Services -323 315 -327 646 Salary costs -515 190 -496 411 Depreciation and amortization -51 435 -70 570 Other operating income 139 977 195 112 Other operating expenses -67 689 -193 646

Operating Result Before Result on Portfolio 566 613 395 998

Changes in fair value of Investment Properties 220 828 - (+/-) Gains or Losses on disposals of Investment Properties - -

Operating Result 787 441 395 998

Financial income 13 323 56 701 Financial expense -203 922 -214 342 (+/-) Other non operating Income and Expenses - -

Profit Before Tax 596 842 238 356

Income Tax Expense -290 724 -95 186

PROFIT / LOSS FOR THE YEAR 306 118 143 170

Attribuable to :Owners of the Parent 200 230 68 401 Non-controlling Interests 105 888 74 769


z CONSOLIDATED STATEMENT OF FINANCIAL POSITION


€


€

ASSETS

Current assets 3 837 686 2 065 287 Cash & cash equivalents 1 924 951 350 669 Trade & other debtors 559 114 159 488 Prepayments & accrued income 1 337 863 1 542 217 Inventories 15 757 12 913

Non-current assets 13 726 218 13 485 991 Investment properties 13 210 000 12 972 040 Other property, plant & equipment 176 032 186 478 Other intangible assets 3 186 6 696 Deferred tax asset 56 578 94 412 Non-current financial assets 188 766 220 000 Other non-current assets 91 656 6 365

Total assets 17 563 904 15 551 278

LIABILITIES AND EqUITY

Current liabilities 1 720 933 1 416 167 Borrowings 409 364 373 976 Trade & other payables 472 942 545 455 Accrued expenses & deferred revenue 838 627 496 736

Non-current liabilities 7 534 193 6 771 496 Borrowings 6 007 695 5 449 828 Deferred tax liabilities 855 244 597 766 Other non-current liabilities 671 254 723 903

Equity 8 308 778 7 363 615 Share capital 6 028 600 5 254 600 Consolidated reserves 258 895 193 621 Non-controlling interests 2 021 283 1 915 395

Total liabilities and equity 17 563 904 15 551 278

NAV 1,04 1,04


z CONSOLIDATED STATEMENT OF CHANGES IN EqUITY

Share capital

€

Consolidated reserve

€

Attribuables to the owners of the Parent

€

Non- controlling interests

€

Total

€

Equity as of 30 September 2014 5 254 600 217 175 5 471 775 1 840 626 7 312 401

Net result for the year 68 401 68 401 74 769 143 170 Other non-comprehensive income - - Total comprehensive income - 68 401 68 401 74 769 143 170 Capital increase - - Dividend payments -91 956 -91 956 -91 956 Other transactions with the owners of the Parent - -

Transactions with the owners of the Parents - -91 956 -91 956 - -91 956


Net result for the year 200 230 200 230 105 888 306 118 Other non-comprehensive income - - Total comprehensive income - 200 230 200 230 105 888 306 118 Capital increase 774 000 774 000 774 000 Dividend payments -134 956 -134 956 -134 956 Other transactions with the owners of the Parent - -

Transactions with the owners of the Parents 774 000 -134 956 639 045 - 639 045



z CONSOLIDATED STATEMENT OF CASH FLOW


€


€

Cash flows from operating activitiesNet result for the year 306 118 143 170

Adjustments for non-cash income and expenses 64 714 165 756 Depreciation & amortization 51 435 70 570 Change in fair value of Investment properties -220 828 - Non-cash income tax expense 234 106 95 186

Changes in operating assets and liabilities 435 426 793 769 Increase / Decrease of Trade and other receivables -399 626 52 339

Increase / Decrease of Prepayments & accrued income 204 354 8 632 Increase / Decrease in Inventories -2 844 4 159 Increase / Decrease in Other non-current assets -85 291 -3 000

Increase / Decrease in Other intangible assets 31 234 - Decrease / Increase in Trade and other payables -72 513 144 902 Decrease / Increase in Accrued expenses & deferred revenue 816 977 591 893 Decrease / Increase in Other non-current liabilities -56 864 -5 156

Net cash from operating activities 806 257 1 102 695

Cash flows from investing activities

Acquisition of Investment properties -17 133 -3 040Acquisition of Other Tangible and Intangible fixed assets -304 350 -427 582

Net cash used in investing activities -321 483 -430 622

Cash flow from financing activitiesCapital increase 774 000 Proceeds from new borrowings 769 000 - Repayment of borrowings -318 537 -438 600 Dividends paid -134 956 -134 956

Net cash used in financing activities 1 089 508 -573 556

Net increase / decrease in cash & cash equivalents 1 574 282 98 517

Cash & cash equivalents at beginning of year 350 669 252 152

Cash & cash equivalents at end of year 1 924 951 350 669

z AUDIT OPINION

Our auditor is Rosier & CO represented by Stephane Rosier. The scope of the audit is a contractual mission to express an independent opinion on the consolidated statements of the business combination made of the four companies EPE SA, Brussels Sustainable House SA,

Green Property SCRL and Ground Property SPRL as well as a statutory audit on the financial statements for each of these 4 companies. The auditor has issued an audit opinion on 9th February 2017. This audit opinion is an unqualified opinion for the year ended 30 September 2016.

Ethical Property Europe saMundo-b, Rue d’Edimbourg 261050 Brussels, BelgiumTelephone: +32 (0)2 894 4660www.ethicalproperty.eu

Graphisme : BeltzaPhotos : Yvan Glavie--This report was printed by Manufast, a social company that provides sustainable and rewarding employment to 200 people with disabilities.--This report is printed on 100% recycled paper sourced from forests managed in a sustainable way.

Documents

Ethical Property Europe Annual Report · Ethical Property Europe Annual Report 2016 l 3 This Annual Report covers the period from October 2015 to September 2016. It is designed to