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.