Financial statements

Statement of cash flows

All amounts in € thousands

 Note20142013
Operating activities   
Rental receipts 38,13442,586
Service charge receipts 1,7612,884
Operating payments (10,582)(5,101)
Service charge payments (1,702)(2,329)
VAT received (paid) (2,837)1,534
Interest received 54
Cash flows from operating activities 24,77939,578
    
Investment activities   
Proceeds from sales of investment property - 941
Payments of investment property under construction (22,214)(11,622)
Payments of investment property (45,199)(18,878)
Net cash inflow on disposal of participation 525-
Cash flows from investment activities (66,888)(29,559)
    
Finance activities   
Proceeds from the issue of share capital 81,00014,000
Dividends paid (27,647)(41,467)
Cash flows from finance activities 53,353(27,467)
    
Net increase/(decrease) in cash and cash equivalents 11,244(17,448)
Cash and cash equivalents at beginning of year 7,75825,206
Cash and cash equivalents at end of year1619,0027,758
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