19 Financial Assets

Financial assets include loan receivables, after taking into account the expected credit loss, in the amount of € 823.2 million (December 31, 2023: € 814.3 million), from the QUARTERBACK Immobilien Group granted in line with standard market conditions. € 681.1 million (December 31, 2023: € 664.8 million) of these loans are classified as current and € 142.1 million (December 31, 2023: € 149.5 million) as non-current.

Due to the subsequent measurement of the long-term call options that Vonovia received as part of the sale of two minority stakes in the Südewo portfolio and the northern Germany portfolio, the balance sheet value increased by € 63.0 million to € 901.0 million (December 31, 2023: € 838.0 million) in the first half of the year. In a sensitivity analysis, the WACC, as the main influencing factor, was changed by +0.5%/-0.5% for the call options, which would result in a change in equity affecting net income of € -106.0 million/ € +126.0 million.

Other investments include among others € 179.3 million (December 31, 2023: € 165.9 million) in shares in the Vesteda Residential Fund FGR, Amsterdam.