Assets and financial position

The balance sheet total increased by 6.9 million euros to 66.0 million euros (previous year: 59.1 million euros).

On the assets side, intangible assets and property, plant and equipment increased by 3.0 million euros to 19.9 million euros (previous year: 16.9 million euros) as a result of investments exceeding depreciation and amortisation. Financial assets declined slightly due to the disposal of securities investments and amounted to 27.7 million euros as of the reporting date (previous year: 28.1 million euros).

Total investments (excluding financial assets) were higher than the previous year at 5.8 million euros (previous year: 4.7 million euros), with investment activity in the past financial year focused on investments in building equipment and building technology.

Current assets increased on balance by 3.9 million euros, which is due in particular to a 1.9 million euros increase in trade receivables.

On the liabilities side, the increase in liabilities to affiliated companies had a significant impact of 2.9 million euros. In addition, deferred income increased by 1.2 million euros, mainly due to ­deferred grants received. Equity changed by 1.4 million euros in line with the net profit for the year. The equity ratio fell to 70.2% (previous year: 76.0%) as of the balance sheet reporting date due to the increase in total assets.

With liquid assets of 2.8 million euros (previous year: 2.5 million euros), the company continues to have a solid financial basis. Long-term fixed assets are almost fully covered by equity.

For the 2023 financial year, the cash flow from operating activities (including income from profit transfers and investments) amounted to 5.5 million euros (previous year: 7 thousand euros).  

Overall, the executive board considers the company’s economic situation to be good.

4. Financial performance indicators

The internal management system has been aligned with our corporate strategy and suitable performance indicators have been defined. The financial performance indicators include the sustainable increase in profitability and the associated increase in the value of the company. In terms of earning power, turnover and annual net profit are the most important target and performance indicators.