Page 20 - Financial Statements 2014, 2015 & 2016

Financial Statements AGS Aviation Ground Services N.V.
4. Statement of cash flows Financial statements 2014

Statement of cash flows

2014 2013
Statement of cash flows in AWG in AWG

Cash flow from operating activities
Net result 962,360 (534,461)
Adjustment for depreciation /amortization 12,440 9,860

Movement in working capital
(Increase)/decrease in accounts receivable (353,081) 364,424
(Increase)/decrease in other receivables (28,649) (1,169)
Increase/(decrease) in accounts payable (332,608) 230,764
Increase/(decrease) in taxes and premiums (227,214) (209,782)
Increase/(decrease) in other liabilities 29,214 (48,657)

Cash flow from operating activities 62,462 (189,021)
Cash flow from investing activities
Investment in tangible fixed assets - (10,320)
Proceeds of sale of/discount on tangible fixed assets 6,020 -

Cash flow from investing activities 6,020 (10,320)

Cash flow from financing activities
Issuance of share capital - -
Increase in share premium 100,000 160,000
Increase/(decrease) in due to related parties 225,944 11,545
Loans obtained/(repaid) (35,531) 37,745
Cash flow from financing activities 290,413 209,290

Changes in cash and cash equivalents 358,895 9,949

Beginning position of cash and cash equivalents (885,052) (895,001)

Ending position of cash and cash equivalents * (526,157) (885,052)
* including credit institutions

The notes form an integral part of these financial statements

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