4. Consolidated statement of cash flows - indirect method

x € 1,000

2022

2021

1.

Operating result

70,914

55,199

Adjustments for:

6.4

Gain on sale of non-current assets and property investments

-783

-170

6.10

Depreciation of property, plant and equipment

11,674

9,558

6.11

Depreciation of right-of-use assets

24,406

23,219

6.12

Amortisation of intangible assets

4,821

1,021

6.16

Adjustment of valuation of property investments and land portfolios, excluding joint ventures

0

2,100

Change in working capital and long-term provisions

13,357

21,762

Operating result after adjustments

124,389

112,689

Interest paid

-6,633

-4,457

Interest received

624

621

Income tax paid

-8,471

-23

Cash flow from operating activities

109,909

108,830

6.10

Investments in property, plant, and equipment

-21,976

-25,581

6.12

Investments in intangible assets

-2,476

0

6.10

Sale of property, plant and equipment

611

2,367

6.2

Business combinations

-16,071

-988

6.13

Capital contributions to joint ventures and associates

-9,754

-26,038

6.13

Capital repayments from joint ventures and associates

20,357

14,500

6.13

Dividends received from joint ventures and associates

857

1,331

6.13

Loans granted to joint ventures and associates

-1,256

-3,197

6.13

Loans repaid by joint ventures and associates

12,884

5,185

Cash flow from investing activities

-16,824

-32,421

6.11

Principal portion of lease payments

-24,338

-22,696

2.

Dividend payments

-10,071

-7,634

6.22

Interest-bearing loans drawn down

3,341

1,218

6.22

Interest-bearing loans repaid

-34,572

-12,793

Cash flow from financing activities

-65,640

-41,905

Net cash flow in the period

27,445

34,504

6.19

Cash and cash equivalents at 1 January

209,567

175,063

6.19

Cash and cash equivalents at 31 December

237,012

209,567

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