|
x € 1 million |
31 December 2024 |
31 December 2023 |
|
Bank balances |
102.6 |
37.1 |
|
Cash in hand |
- |
- |
|
Funds in blocked accounts |
2.8 |
3.3 |
|
Total cash and cash equivalents |
105.4 |
40.4 |
Cash and cash equivalents are utilised to reduce the Group's financing to the extent contractually and practically permitted.
6.19a Restricted cash and cash equivalents
Of the total cash and cash equivalents, € 80 million (2023: € 58 million) is held by joint operations. This amount was higher in 2024, largely due to the fact strong increase in the cash and cash equivalents in the joint operations of the Working and Connecting business segments. These cash and cash equivalents are only available in consultation with the joint venture partner(s) concerned.
The funds in blocked accounts amount to € 3 million (2023: € 3 million) and are primarily related to the obligatory G accounts (guarantee accounts) held pursuant to the Chain Liability Act (WKA - Wet ketenaansprakelijkheid).