Annual Report 2015
Consolidated cash flow statement
thousand euros 1 Jan-31 Dec 2015 1 Jan-31 Dec 2014
Cash flows from operating activities
Capital calls paid to funds -68,335 -62,830
Cash flows received from funds 99,146 60,515
Direct investments paid -24,901 -39,049
Repayments of and sales proceeds from direct investments 56,024 6,026
Interest received from venture capital and private equity investments 855 840
Dividends received from venture capital and private equity investments 407 858
Cash flow from venture capital and private equity investments, total 63,196 -33,640
Payments for financial securities -213,216 -95,200
Sales proceeds from financial securities 52,543 55,487
Payments received from other operating income 467 516
Payments made for operating expenses -6,779 -6,416
Cash flow from operating activities before taxes -103,789 -79,253
Cash flow from operating activities (A) -103,789 -79,253
Cash flow from investing activities
Payments for tangible and intangible assets -40 -69
Cash flow from investing activities (B) -40 -69
Cash flow from financing activities
Proceeds from share issue 105,000 80,000
Cash flow from financing activities (C) 105,000 80,000
Change in cash and cash equivalents (A+B+C) increase (+) / decrease (-) 1,171 678
Cash and cash equivalents at the beginning of financial year 2,071 1,393
Cash and cash equivalents at end of financial year 3,241 2,071

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