Profit / (loss) for the year

Adjustments for:

Income tax

Amortization and depreciation

(Gain) / loss from disposal of property, plant and equipment

Net (gain) / loss from fair value adjustment of investment properties

Gain from lease modification

Charge of impairment of trading properties

(Gain) / loss from disposal of associates and joint ventures

(Gain) / loss on sale of trading properties and others

Financial results, net

Provisions and allowances

Share of profit of associates and joint ventures

Changes in operating assets and liabilities:

(Increase) / decrease in inventories

Decrease / (increase) in trading properties

Decrease / (increase) in trade and other receivables

Decrease in trade and other payables

Increase / (decrease) in salaries and social security liabilities

Decrease in provisions

Net cash generated by operating activities before income tax paid

Investment properties

Property, plant and equipment

Intangible assets

Income tax credit

Trade and other receivables

Inventories

Borrowings

Deferred income tax liabilities

Trade and other payables

Provisions 

Salaries and social security liabilities

Net value of assets acquired that did not affect cash

Cash and cash equivalents

Goodwill

Net value of incorporated assets

Previously held interest (financial asset)

Settlement through a decrease in investments in financial assets

Seller Financed Amount

Cash consideration paid

Cash and cash equivalents acquired

Net outflow of cash and cash equivalents

Increase of investment properties through a decrease of investments in financial assets

Increase of property, plant and equipment through an increase of trade and other payables

Issuance of non-convertible notes

Increase of investments in financial assets through an increase in trade and other payables

Increase of investments in financial assets through a decrease of investments in associates and joint ventures

Decrease in investments in associates and joint ventures through a decrease in borrowings

Increase in investment properties through a decrease in trade and other receivables

Decrease in trading properties through an increase in trade and other receivables

Other comprehensive loss for the year

Reserve for share-based payments

Increase of derivative financial instruments through a decrease in Shareholders’ Equity

Decrease in investment properties through an increase in property, plant and equipment

Increase in intangible assets through an increase in salaries and social security liabilities

Increase in investments in associates and joint ventures through a decrease in investments in financial assets

Decrease in investments in financial assets through a decrease in trade and other payables

Decrease in Shareholders’ Equity through a decrease in trade and other receivables

Decrease in Shareholders’ Equity through a decrease in investments in financial assets

Increase in right-of-use assets through an increase in lease liabilities

Increase of investments in financial assets through a decrease in trade and other receivables

Decrease of intangible assets through an increase in trading properties

Decrease in Shareholders’ Equity through an increase in trade and other payables

Decrease in trading properties through a decrease in borrowings

Barter transactions of investment properties

Decrease in investment properties through an increase in trade and other receivables

Decrease in investments in associates and joint ventures through an increase in trade and other receivables

Increase in intangible assets through a decrease in investment properties

Increase in intangible assets through an increase in trade and other payables

Increase of investments in financial assets through an increase in borrowings

Increase in borrowings through a decrease in trade and other payables

Increase in Shareholders’ Equity through a decrease in trade and other payables

Decrease in borrowings through an increase in trade and other payables

Increase in investment properties through an increase in trade and other payables

Decrease in right-of-use assets through a decrease in lease liabilities

Decrease of investment in financial assets through an increase in trade and other receivables

Decrease in lease liabilities through an increase in trade and other payables

Increase of investment in financial assets through a decrease in derivative financial instruments

Decrease in investment properties through an increase in trading properties

Increase of investments in financial assets through an increase in non-controlling interest in subsidiaries

Exercise of warrants