Page 6 - Financial Statements 2014, 2015 & 2016

Airport Groundhandling &
Financial Statements Equipment Leasing 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 (61,835) (117,383)
Adjustment for depreciation /amortization 232,313 223,958

Movement in working capital
Increase/(decrease) in accounts payable (2,457) (23,802)
Cash flow from operating activities 168,021 82,773

Cash flow from investing activities
Investment in tangible fixed assets - (122,801)
Proceeds of sale of/discount on tangible fixed assets - -
Cash flow from investing activities - (122,801)

Cash flow from financing activities
Issuance of share capital - -
Increase/(decrease) in due from/to related parties (52,778) (29,421)
Loans obtained/(repaid) (116,873) 71,888
Cash flow from financing activities (169,651) 42,467

Changes in cash and cash equivalents (1,630) 2,439
Beginning position of cash and cash equivalents 2,970 531

Ending position of cash and cash equivalents 1,340 2,970

The notes form an integral part of these financial statements

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