144
CONSOLIDATED FINANCIAL STATEMENTS
CONSOLIDATED CASH FLOW STATEMENTS FOR THE
YEARS ENDING ON 31ST DECEMBER 2013 AND 2012
(value in euros)
Years ending on December 31
Note
2013
2012
Cash Flows from Operating Activities
Flows from operating activities (1)
30
17,464,541
14,761,960
Cash Flows from Investment Activities
Receipts from:
Financial Investments
15,800
0
Tangible fixed assets
68,337
103,726
Intangible assests
877,901
1,031,755
Payments for:
Financial Investments
259,937
765,000
Tangible fixed assets
9,866,816
9,290,231
Intangible assests
1,024,197
1,501,991
Flows from investment activities (2)
-10,188,912
-10,421,741
