Consolidated cash flow statement

x €1,000

Note

2022

2021

Result before tax

20,858

20,624

Adjustment for:

• Depreciation

10,843

11,594

• Impairment

218

569

• Profit from sale (previously assets available for sale)

-515

297

Financial income and expenses

895

1,375

Movements in provisions

-1,563

-474

Changes in working capital:

• Inventories

-8,984

-6,306

• Current receivables

-3,381

-10,291

• Current liabilities (excluding corp. tax liability and lease liabilities)

31,938

20,556

Total changes in working capital

19,573

3,959

Financial expenses paid

-890

-972

Income tax paid

-5,960

-3,308

Cash flow from operating activities

43,459

33,664

Investments in intangible fixed assets

-565

-970

Investments in tangible fixed assets

-10,260

-5,735

Investments in financial fixed assets

-18

-40

Disposal of tangible fixed assets

2,162

84

Cash flow from investing activities

-8,681

-6,661

Dividend paid to Hydratec shareholders

-5,843

-2,610

Repayment of non-current liabilities

-7,263

-2,907

Repayment of lease liabilities

-2,254

-3,777

Long-term borrowings drawn

-

73

Repayment/withdrawal from bank overdraft

783

-17,347

Acquisition of participating interests

1.24

-

-

Cash flow from financing activities

-14,577

-26,568

Net cash flow

20,201

435

Translation differences in cash balances

-198

135

Movements in cash and cash equivalents

20,003

570

Cash and cash equivalents as at 1 January

5,199

4,629