| PARENT COMPANY'S CASH FLOW STATEMENT € | 2020 | 2019 |
|---|---|---|
| Operating activities | ||
| Business result | -4,350,669.47 | -1,665,320.77 |
| Adjustments to business result 1) | 455,056.79 | -2,446,707.95 |
| Changes in working capital 2) | -1,351,923.44 | -487,594.80 |
| Dividends received | 356,360.00 | 224,592.00 |
| Interest received | 412,103.32 | 480,471.26 |
| Interest paid | -859,654.59 | -682,997.11 |
| Other financial income and expenses | -395,972.83 | -845,242.69 |
| Income taxes | 0.00 | -628,604.73 |
| Cash flow from operating activities | -5,734,700.22 | -6,051,404.79 |
| Investment activities | ||
| Acquisition of shares | -11,000,000.00 | -11,472,500.00 |
| Increase (-) in acquisition of tangible and intangible assets | -830,689.28 | -2,524,350.27 |
| Decrease (+) in acquisition of tangible and intangible assets | 3,377,988.44 | 1,536,706.34 |
| Increase (+) or decrease (-) in short-term non-interest-bearing liabilities concerning investments | 0.00 | -372,000.00 |
| Return of capital received | 5,000,000.00 | 12,902,053.69 |
| Proceeds from sales of non-current assets | 0.00 | 3,520,002.00 |
| Increase (-) or decrease (+) in loan receivables | -21,178,835.00 | 0.00 |
| Cash flow from investment activities | -24,631,535.84 | 3,589,911.76 |
| Financing activities | ||
| Proceeds from long-term loans | 14,996,159.09 | 1,720,232.49 |
| Increase (+) or decrease (-) in long-term non-interest-bearing liabilities | 0.00 | -200,000.00 |
| Increase (-) or decrease (+) in interest-bearing receivables | -1,099,359.31 | 1,858,816.95 |
| Increase (+) or decrease (-) in short-term interest-bearing liabilities | -1,690,742.79 | -21,663,636.00 |
| Liabilities transferred through business transfer | 0.00 | 24,430,056.47 |
| Group contribution received | 5,050,000.00 | 6,050,000.00 |
| Rights issue | 9,000,000.00 | 10,000,000.00 |
| Return of capital paid | 0.00 | -28,190,867.43 |
| Cash flow from financing activities | 26,256,056.99 | -5,995,397.52 |
| Change in cash and cash equivalents | -4,110,179.07 | -8,456,890.55 |
| Liquid assets 1 Jan | 19,995,315.18 | 28,452,205.73 |
| Liquid assets 31 Dec | 15,885,136.11 | 19,995,315.18 |
| 1) Adjustments to business result | ||
| Depreciation and write-downs | 455,056.79 | 459,820.88 |
| Gain (-) or loss (+) from divestment of non-current assets | 0.00 | -2,906,528.83 |
| 455,056.79 | -2,446,707.95 | |
| 2) Changes in working capital | ||
| Increase (-) or decrease (+) in non-interest-bearing receivables | 3,269,979.44 | 3,750,695.84 |
| Increase (-) or decrease (+) in inventories | 0.00 | -729,592.55 |
| Increase (+) or decrease (-) in short-term non-interest-bearing liabilities | -4,621,902.88 | -3,508,698.09 |
| -1,351,923.44 | -487,594.80 |
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