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Consolidated statement of cash flows for the year ended 30 September 2021

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2020/2021

2019/2020*

  

EUR 1,000

EUR 1,000

Profit for the year

 

-

-

    

Adjustments for:

   

Income tax expense

11

1,275

818

Impairment trade receivables and contract assets

16

90

Depreciation and amortisation

13, 14

35,992

41,233

Net impairment loss

13

19,855

Finance income

9

-30

-1,523

Finance expenses

10

8,113

8,678

Cash flows before movements in working capital and provisions

 

45,350

69,151

    

Change in contract assets

5

-4,264

4,348

Change in receivables

16

-685

17,227

Change in other assets

15

-16

2

Change in contract liabilities

5

11,190

3,235

Change in trade and other payables

23

-210

-8,240

Change in provisions

22

299

-7,129

Change in employee benefits

21

21,314

-5,769

Cash flows from operating activities

 

72,978

72,825

    

Interest and bank charges paid

 

-3,838

-3,171

Interest received

 

30

1,523

Income tax paid

 

-906

-938

Net cash from operating activities

 

68,264

70,239

    

Acquisition of property, plant and equipment

14

-3,474

-4,080

Investment in software

13

-1,134

-10,122

Loans to equity accounted investees

 

-473

Net cash used in investing activities

 

-4,608

-14,675

    

Addition to share premium by partners

 

2,230

2,010

Net (repayment)/proceeds of loans and borrowings from partners

20

53,422

8,559

Net (repayment)/proceeds of loans and borrowings from former partners

20

-5,700

4,149

Interest paid to Coöperatie KPMG U.A. re partners and former partners

10

-4,324

-4,646

Repayment of share premium to Coöperatie KPMG U.A.

 

-1,510

-1,870

Payment of lease liabilities

 

-29,005

-36,413

Net (repayment)/proceeds of employee bonds

20

644

-51

Net cash (used in)/from financing activities

 

15,757

-28,262

    

Net change in cash and cash equivalents

17

79,413

27,302

Cash and cash equivalents at 1 October

17

85,181

57,879

    

Cash and cash equivalents at 30 September

 

164,594

85,181

The accompanying notes are an integral part of these consolidated financial statements.

* The presentation of the 2019/2020 figures has been adjusted for comparison purposes, due to changes in presentation in the balance sheet, where unbilled services are included in contract assets (previously in receivables) and advance billings/payments are included in contract liabilities (previously in trade and other payables).