Consolidated statement of cash flows
for the year ended 30 September 2023
|
EUR 000 |
2022/2023 |
2021/2022 |
|
|
Profit for the year |
628 |
– |
|
|
Adjustments for: |
|||
|
Income tax expense |
1,907 |
2,066 |
|
|
Impairment trade receivables and contract assets |
189 |
181 |
|
|
Depreciation and amortization |
36,927 |
35,469 |
|
|
Net impairment loss |
88 |
528 |
|
|
Finance income |
-899 |
-188 |
|
|
Finance expenses |
9,971 |
7,629 |
|
|
Gain on sale of shares in KPMG Investments Malta Ltd. |
– |
-4,634 |
|
|
Cash flows before movements in working capital and provisions |
48,811 |
41,051 |
|
|
Change in contract assets |
-4,093 |
-1,885 |
|
|
Change in receivables |
-45,303 |
-25,447 |
|
|
Change in other assets |
2,560 |
482 |
|
|
Change in contract liabilities |
-3,915 |
7,780 |
|
|
Change in trade and other payables |
10,379 |
6,720 |
|
|
Change in provisions |
43,063 |
-613 |
|
|
Change in employee benefits |
-10,129 |
5,867 |
|
|
Cash flows from operating activities |
41,373 |
33,954 |
|
|
Income tax paid |
-2,344 |
-1,681 |
|
|
Net cash from operating activities |
39,029 |
32,273 |
|
|
Acquisition of property, plant and equipment |
-6,019 |
-6,685 |
|
|
Investment in software |
-2,578 |
-1,574 |
|
|
Net proceeds of sale shares in KPMG Investments Malta Ltd. |
– |
4,634 |
|
|
Net cash used in investing activities |
-8,597 |
-3,625 |
|
|
Addition to share premium by partners |
2,310 |
2,160 |
|
|
Net (repayment)/proceeds of loans and borrowings from partners |
-35,638 |
20,277 |
|
|
Net (repayment)/proceeds of loans and borrowings from former partners |
-1,234 |
532 |
|
|
Interest paid to Coöperatie KPMG U.A. re partners and former partners |
-5,945 |
-4,530 |
|
|
Repayment of share premium to Coöperatie KPMG U.A. |
-1,320 |
-990 |
|
|
Interest and bank charges paid |
-4,054 |
-3,126 |
|
|
Interest received |
899 |
188 |
|
|
Payment of lease liabilities |
-29,453 |
-29,830 |
|
|
Proceeds of employee bonds |
2,040 |
1,977 |
|
|
Repayment of employee bonds |
-1,150 |
-632 |
|
|
Net cash used in financing activities |
-73,545 |
-13,974 |
|
|
Net change in cash and cash equivalents |
-43,113 |
14,673 |
|
|
Cash and cash equivalents at 1 October |
179,267 |
164,594 |
|
|
Cash and cash equivalents at 30 September |
136,154 |
179,267 |
The accompanying notes are an integral part of these consolidated financial statements.