{"id":15391,"date":"2022-02-17T13:50:33","date_gmt":"2022-02-17T11:50:33","guid":{"rendered":"https:\/\/investors.bittnet.ro\/current-and-historical-financial-results\/4q-2021\/analiza-situatiilor-financiare\/"},"modified":"2022-02-24T21:47:13","modified_gmt":"2022-02-24T19:47:13","slug":"review-of-the-financial-statements","status":"publish","type":"page","link":"https:\/\/investors.bittnet.ro\/en\/current-and-historical-financial-results\/4q-2021\/review-of-the-financial-statements\/","title":{"rendered":"Review of the financial statements"},"content":{"rendered":"<section class=\"l-section wpb_row height_small\"><div class=\"l-section-h i-cf\"><div class=\"g-cols vc_row via_flex valign_top type_default stacking_default\"><div class=\"vc_col-sm-8 wpb_column vc_column_container\"><div class=\"vc_column-inner\"><div class=\"wpb_wrapper\"><div class=\"wpb_text_column us_custom_72cadcd9 has_text_color\"><div class=\"wpb_wrapper\"><h1>Review of the financial statements<\/h1>\n<\/div><\/div><div class=\"w-separator size_medium\"><\/div><div class=\"w-btn-wrapper align_left\"><a class=\"w-btn us-btn-style_3\" href=\"https:\/\/investors.bittnet.ro\/current-and-historical-financial-results\/4q-2021\/review-of-the-financial-statements\/revenues-expenses-operational-profit\/\"><span class=\"w-btn-label\">Revenues, Expenses, Operational Profit<\/span><\/a><\/div><div class=\"w-separator size_small\"><\/div><div class=\"w-btn-wrapper align_left\"><a class=\"w-btn us-btn-style_3\" href=\"https:\/\/investors.bittnet.ro\/current-and-historical-financial-results\/4q-2021\/review-of-the-financial-statements\/consolidated-financial-statements\/\"><span class=\"w-btn-label\">Consolidated financial statements<\/span><\/a><\/div><div class=\"w-separator size_small\"><\/div><div class=\"w-btn-wrapper align_left\"><a class=\"w-btn us-btn-style_3\" href=\"https:\/\/investors.bittnet.ro\/current-and-historical-financial-results\/4q-2021\/review-of-the-financial-statements\/cash-flow\/\"><span class=\"w-btn-label\">Consolidated Cash Flow<\/span><\/a><\/div><\/div><\/div><\/div><div class=\"vc_col-sm-4 wpb_column vc_column_container\"><div class=\"vc_column-inner\"><div class=\"wpb_wrapper\"><nav class=\"w-menu layout_ver style_blocks us_menu_1 with_children\" style=\"--main-gap:1.5rem;--main-ver-indent:0.8em;--main-hor-indent:0.8em;--main-bg-color:#f5f5f5;--main-color:inherit;--main-hover-bg-color:#8dbe65;--main-hover-color:#ffffff;--main-active-bg-color:#8dbe65;--main-active-color:#ffffff;--sub-gap:5px;\"><ul id=\"menu-4q-2021-en\" class=\"menu\"><li id=\"menu-item-15370\" class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-15370\"><a href=\"https:\/\/investors.bittnet.ro\/en\/current-and-historical-financial-results\/4q-2021\/key-information\/\">Key information<\/a><\/li><li id=\"menu-item-15349\" class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-15349\"><a href=\"https:\/\/investors.bittnet.ro\/en\/current-and-historical-financial-results\/4q-2021\/\">Letter from the CEO<\/a><\/li><li id=\"menu-item-15363\" class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-has-children menu-item-15363\"><a href=\"https:\/\/investors.bittnet.ro\/en\/current-and-historical-financial-results\/4q-2021\/the-current-structure-of-the-group\/\">The current structure of the Group<\/a><ul class=\"sub-menu\"><li id=\"menu-item-15378\" class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-15378\"><a href=\"https:\/\/investors.bittnet.ro\/en\/current-and-historical-financial-results\/4q-2021\/the-current-structure-of-the-group\/the-education-division\/\">The Education Division<\/a><\/li><li id=\"menu-item-15384\" class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-15384\"><a href=\"https:\/\/investors.bittnet.ro\/en\/current-and-historical-financial-results\/4q-2021\/the-current-structure-of-the-group\/the-technology-division\/\">The Technology Division<\/a><\/li><li id=\"menu-item-15390\" class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-15390\"><a href=\"https:\/\/investors.bittnet.ro\/en\/current-and-historical-financial-results\/4q-2021\/the-current-structure-of-the-group\/investments-in-listed-companies\/\">Investments in listed companies<\/a><\/li><\/ul><\/li><li id=\"menu-item-15395\" class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-has-children menu-item-15395\"><a href=\"https:\/\/investors.bittnet.ro\/en\/current-and-historical-financial-results\/4q-2021\/review-of-the-financial-statements\/\">Review of the financial statements<\/a><ul class=\"sub-menu\"><li id=\"menu-item-15409\" class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-15409\"><a href=\"https:\/\/investors.bittnet.ro\/en\/current-and-historical-financial-results\/4q-2021\/review-of-the-financial-statements\/revenues-expenses-operational-profit\/\">Revenues, Expenses, Operational Profit<\/a><\/li><li id=\"menu-item-15408\" class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-15408\"><a href=\"https:\/\/investors.bittnet.ro\/en\/current-and-historical-financial-results\/4q-2021\/review-of-the-financial-statements\/consolidated-financial-statements\/\">Consolidated financial statements<\/a><\/li><li id=\"menu-item-15415\" class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-15415\"><a href=\"https:\/\/investors.bittnet.ro\/en\/current-and-historical-financial-results\/4q-2021\/review-of-the-financial-statements\/cash-flow\/\">Consolidated Cash Flow<\/a><\/li><\/ul><\/li><li id=\"menu-item-15422\" class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-15422\"><a href=\"https:\/\/investors.bittnet.ro\/en\/current-and-historical-financial-results\/4q-2021\/bnet-investment-thesis\/\">BNET investment thesis<\/a><\/li><li id=\"menu-item-15462\" class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-has-children menu-item-15462\"><a href=\"https:\/\/investors.bittnet.ro\/en\/current-and-historical-financial-results\/4q-2021\/events-in-the-technology-division\/\">Events in the Technology Division<\/a><ul class=\"sub-menu\"><li id=\"menu-item-15468\" class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-15468\"><a href=\"https:\/\/investors.bittnet.ro\/en\/current-and-historical-financial-results\/4q-2021\/events-in-the-technology-division\/cloud-infrastructure-dendrio\/\">Cloud &#038; Infra<\/a><\/li><li id=\"menu-item-15485\" class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-15485\"><a href=\"https:\/\/investors.bittnet.ro\/en\/current-and-historical-financial-results\/4q-2021\/events-in-the-technology-division\/business-applications-elian\/\">Business Apps<\/a><\/li><li id=\"menu-item-15486\" class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-15486\"><a href=\"https:\/\/investors.bittnet.ro\/en\/current-and-historical-financial-results\/4q-2021\/events-in-the-technology-division\/cyber-security-managed-services-grx-isec-it-prepared\/\">Cybersec &#038; Managed Serv.<\/a><\/li><li id=\"menu-item-15480\" class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-15480\"><a href=\"https:\/\/investors.bittnet.ro\/en\/current-and-historical-financial-results\/4q-2021\/events-in-the-technology-division\/software-development-nenos-nonlinear\/\">Software Develop.<\/a><\/li><\/ul><\/li><li id=\"menu-item-15427\" class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-has-children menu-item-15427\"><a href=\"https:\/\/investors.bittnet.ro\/en\/current-and-historical-financial-results\/4q-2021\/events-in-the-education-division\/\">Events in the Education Division<\/a><ul class=\"sub-menu\"><li id=\"menu-item-15439\" class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-15439\"><a href=\"https:\/\/investors.bittnet.ro\/en\/current-and-historical-financial-results\/4q-2021\/events-in-the-education-division\/demand_generation-team\/\">Demand Generation<\/a><\/li><li id=\"menu-item-15446\" class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-15446\"><a href=\"https:\/\/investors.bittnet.ro\/en\/current-and-historical-financial-results\/4q-2021\/events-in-the-education-division\/business-development\/\">Business Development<\/a><\/li><li id=\"menu-item-15433\" class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-15433\"><a href=\"https:\/\/investors.bittnet.ro\/en\/current-and-historical-financial-results\/4q-2021\/events-in-the-education-division\/marketing-product-development-team\/\">Mkt &#038; Product Develop.<\/a><\/li><li id=\"menu-item-15452\" class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-15452\"><a href=\"https:\/\/investors.bittnet.ro\/en\/current-and-historical-financial-results\/4q-2021\/events-in-the-education-division\/delivery-customer-success\/\">Delivery &#038; Customer Success<\/a><\/li><\/ul><\/li><li id=\"menu-item-15492\" class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-15492\"><a href=\"https:\/\/investors.bittnet.ro\/en\/current-and-historical-financial-results\/4q-2021\/alternative-performance-measurement\/\">\u201cAlternative Performance Measurements\u201d on alternative key performance indicators<\/a><\/li><li id=\"menu-item-15498\" class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-15498\"><a href=\"https:\/\/investors.bittnet.ro\/en\/current-and-historical-financial-results\/4q-2021\/2022-buget-for-reference-only\/\">2022 Buget for reference only<\/a><\/li><li id=\"menu-item-18332\" class=\"menu-item menu-item-type-custom menu-item-object-custom menu-item-18332\"><a href=\"https:\/\/investors.bittnet.ro\/current-and-historical-financial-results\/4q-2021\/download-files\/\">Download files<\/a><\/li><li id=\"menu-item-15336\" class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-15336\"><a href=\"https:\/\/investors.bittnet.ro\/en\/newsletter-subscription\/\">Newsletter subscription<\/a><\/li><\/ul><style>@media ( max-width:600px ){.us_menu_1 .menu{display:block!important}.us_menu_1 .menu>li:not(:last-child){margin:0 0 var(--main-gap,1.5rem)!important}}<\/style><\/nav><\/div><\/div><\/div><\/div><\/div><\/section>\n","protected":false},"excerpt":{"rendered":"Review of the financial statements Revenues, Expenses, Operational ProfitConsolidated financial statementsConsolidated Cash FlowKey informationLetter from the CEOThe current structure of the GroupThe Education DivisionThe Technology DivisionInvestments in listed companiesReview of the financial statementsRevenues, Expenses, Operational ProfitConsolidated financial statementsConsolidated Cash FlowBNET investment thesisEvents in the Technology DivisionCloud &#038; InfraBusiness AppsCybersec &#038; Managed Serv.Software Develop.Events in the...","protected":false},"author":26,"featured_media":0,"parent":15342,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"class_list":["post-15391","page","type-page","status-publish","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.8 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Review of the financial statements - Bittnet<\/title>\n<meta name=\"description\" content=\"Review of the financial statements - Bittnet - Revenues, Expenses, Operational 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