{"id":15401,"date":"2022-02-17T14:12:23","date_gmt":"2022-02-17T12:12:23","guid":{"rendered":"https:\/\/investors.bittnet.ro\/current-and-historical-financial-results\/4q-2021\/review-of-the-financial-statements\/situatia-financiara-consolidata\/"},"modified":"2022-02-24T21:40:40","modified_gmt":"2022-02-24T19:40:40","slug":"consolidated-financial-statements","status":"publish","type":"page","link":"https:\/\/investors.bittnet.ro\/en\/current-and-historical-financial-results\/4q-2021\/review-of-the-financial-statements\/consolidated-financial-statements\/","title":{"rendered":"Consolidated financial statements"},"content":{"rendered":"

Consolidated financial statements<\/h1>\n<\/div><\/div>
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The increase in fixed assets is entirely due to the M&A type investments made, which amount to RON 18 million, combined with the decrease in the position of securities placed in equivalence with the reclassification of Softbinator’s participation as \u201cmark-to-market\u201d. Also, with the cancelation of the renting contract for the Anchor Plaza offices, the tangible assets decreased in accordance with IFRS 16.<\/p>\n<\/div><\/div><\/div><\/div><\/div><\/div>

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The increase in current assets is partly due to the increase in receivables from customers (positive evolution of RON 2.3 million), and the reclassification of Softbinator’s participation as a \u201cmark to market\u201d with the listing of the company.<\/p>\n

The consolidated cash position reaches RON 23.4 million<\/strong>.<\/p>\n

Long-term debts decreased by RON 5 million with the repayment of the BNET22 bond issue.<\/p>\n

The positive evolution of short-term debts (from RON 38.7 to 47.1 million) comes almost entirely from M&A operations – the part to be paid in shares or after confirmation of the results for 2021 of the companies in which we invested.<\/p>\n<\/div><\/div>

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As a result, shareholder equity increased by RON 10.4 million, both due to the market capitalization operation in early 2021, and the annual net profit of RON 14.4 million.<\/p>\n

Less than half of the equity comes from capital raising operations through stock exchange mechanisms – most of which are business-generated profits, capitalized by issuing new shares.<\/p>\n<\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div>