Consolidated statement of financial position
Fixed assets increased at group level by registering the final value of goodwill from the transaction with Crescendo (RON +5.4 million), and due to the increase of intellectual property rights with the reception of various IT platforms of the group (UXI, CRM, ERP , etc). Tangible fixed assets decrease naturally by depreciation. We reiterate that over 4 million of the 5.8 registered as tangible assets are due to the application of IFRS16 regarding the rented office space (their value decreases monthly, also according to the depreciation principle).
| 30/Sep/20 | 30/Sep/19 | Evolution | |
| Commercial fund | 17,701,643 | 12,251,643 | 44% |
| Other intangible assets | 6,129,604 | 5,593,151 | 10% |
| Tangible fixed assets | 5,812,843 | 7,117,220 | -18% |
| Equivalent titles | 1,754,160 | 1,246,053 | 41% |
| Total fixed assets | 33,451,531 | 28,498,764 | 17% |
| Inventories | 988,021 | 3,933,187 | -75% |
| Trade receivables and other receivables | 23,964,323 | 16,341,555 | 47% |
| Cash and cash equivalents | 22,806,469 | 11,583,562 | 97% |
| Total current assets | 47,758,813 | 31,858,304 | 50% |
| Total assets | 81,210,343 | 60,357,068 | 35% |
The positive evolution of stocks (the fact that we have smaller stocks is a positive evolution) is a consequence of operational flows and the increase in cash comes from the financing activity, the company carrying out a capital increase in Q1 2020.
The positive evolution of receivables slightly faster than turnover is offset by the positive evolution with a slightly higher amount of trade payables, respecting the group’s principle of being as cash-neutral as possible compared to operational activity. This principle is easily observed from the relative equality between trade receivables and payables.
| 30/Sep/20 | 30/Sep/19 | Evolution | |
| Bank loans | 5,965,699 | 8,088,482 | -26.24% |
| Leasing debts | 1,459,215 | 1,554,784 | -6.15% |
| Trade and other payables | 22,371,734 | 11,050,704 | 102.45% |
| Total short-term debt | 29,839,195 | 20,703,596 | 44.13% |
We would like to mention that we have reproduced in this chapter only the values that register evolutions that are worth analyzing.