Consolidated Financial Statements
CONSOLIDATED CASH FLOW STATEMENTS
FOR THE YEARS ENDED 31 DECEMBER, 2015 AND 2014
(Values in euros)
Years ended on
December 31
st
Notes
2015
2014
Cash Flows from Operating Activities
Receipts from clients
214.457.896
187.835.470
Payments to supliers
-116.662.018 -107.794.358
Staff payments
-49.361.408
-46.029.543
Payments/receipt of income tax
-2.874.222
-1.911.172
Other paym./receipts related with operating activities
14
-19.481.672
-7.721.479
Flows from operating activities (1)
26.078.576
24.378.917
Cash Flows from Investment Activities
Receipts from:
Financial investments
5.640
Tangible fixed assets
39.007
194.888
Intangible assets
Investment benefits
84.525
97.954
Interest received
73.979
110.829
Payments for:
Financial Investments
147.246
245.998
Other financial assets
7.098.836
Tangible fixed assets
18.116.090
21.196.136
Intangible assests
2.905.016
921.569
Flows from investment activities (2)
-28.069.677
-21.954.392
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