{"id":10112,"date":"2020-11-12T13:48:07","date_gmt":"2020-11-12T11:48:07","guid":{"rendered":"https:\/\/investors.bittnet.ro\/current-and-historical-financial-results\/bnet-report-9-months-2020\/key-elements-of-financial-statements\/3-4-consolidated-statement-of-financial-position\/"},"modified":"2020-11-12T13:59:23","modified_gmt":"2020-11-12T11:59:23","slug":"3-4-consolidated-statement-of-financial-position","status":"publish","type":"page","link":"https:\/\/investors.bittnet.ro\/en\/current-and-historical-financial-results\/3q-2020\/key-elements-of-financial-statements\/3-4-consolidated-statement-of-financial-position\/","title":{"rendered":"3.4. Consolidated statement of financial position"},"content":{"rendered":"

Consolidated statement of financial position<\/strong><\/h1>\n

Fixed assets increased at group level by registering the final value of goodwill from the transaction with Crescendo (<\/span><\/span>RON\u00a0<\/span><\/span>+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).<\/span><\/span>\u00a0<\/span><\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
<\/td>\n30\/Sep\/20<\/strong><\/td>\n30\/Sep\/19<\/strong><\/td>\nEvolution<\/strong><\/td>\n<\/tr>\n
Commercial fund<\/td>\n17,701,643<\/td>\n12,251,643<\/td>\n44%<\/td>\n<\/tr>\n
Other intangible assets<\/td>\n6,129,604<\/td>\n5,593,151<\/td>\n10%<\/td>\n<\/tr>\n
Tangible fixed assets<\/td>\n5,812,843<\/td>\n7,117,220<\/td>\n-18%<\/td>\n<\/tr>\n
Equivalent titles<\/td>\n1,754,160<\/td>\n1,246,053<\/td>\n41%<\/td>\n<\/tr>\n
Total fixed assets<\/strong><\/td>\n33,451,531<\/strong><\/td>\n28,498,764<\/strong><\/td>\n17%<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Inventories<\/td>\n988,021<\/td>\n3,933,187<\/td>\n-75%<\/td>\n<\/tr>\n
Trade receivables and other receivables<\/td>\n23,964,323<\/td>\n16,341,555<\/td>\n47%<\/td>\n<\/tr>\n
Cash and cash equivalents<\/td>\n22,806,469<\/td>\n11,583,562<\/td>\n97%<\/td>\n<\/tr>\n
Total current assets<\/strong><\/td>\n47,758,813<\/strong><\/td>\n31,858,304<\/strong><\/td>\n50%<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Total assets<\/strong><\/td>\n81,210,343<\/strong><\/td>\n60,357,068<\/strong><\/td>\n35%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

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.<\/span>\u00a0<\/span><\/p>\n

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.<\/span>\u00a0<\/span><\/p>\n\n\n\n\n\n\n\n
<\/td>\n30\/Sep\/20<\/strong><\/td>\n30\/Sep\/19<\/strong><\/td>\nEvolution<\/strong><\/td>\n<\/tr>\n
Bank loans<\/td>\n5,965,699<\/td>\n8,088,482<\/td>\n-26.24%<\/td>\n<\/tr>\n
Leasing debts<\/td>\n1,459,215<\/td>\n1,554,784<\/td>\n-6.15%<\/td>\n<\/tr>\n
Trade and other payables<\/td>\n22,371,734<\/td>\n11,050,704<\/td>\n102.45%<\/td>\n<\/tr>\n
Total short-term debt<\/strong><\/td>\n29,839,195<\/strong><\/td>\n20,703,596<\/strong><\/td>\n44.13%<\/strong><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

We\u00a0<\/span><\/span>would like to\u00a0<\/span><\/span>mention that we have reproduced in this chapter only the values that register evolutions that are worth analyzing.<\/span><\/span>\u00a0<\/span><\/p>\n<\/div><\/div><\/div><\/div><\/div>