33. Disclosures on the Consolidated Statement of Cash Flows

Liquid funds represent cash and cash equivalents as shown in the statement of financial position. Cash and cash equivalents include cash in hand and cash at banks, demand deposits, checks and short-term time deposits. Due to customer payments from factoring that have not yet been forwarded, cash and cash equivalents amounting to EUR 10,968 thousand (31 December 2024: EUR 10,120 thousand) are not freely available as at 31 December 2025 (see note 32).

Other non-cash income and expenses in both the 2025 financial year and the previous year include the measurement of inventories as well as non-cash changes in provisions. Other non-cash income/expenses also contain unrealized net foreign exchange rate gains/losses and measurement effects from receivables.

Cash flows from investing activities (purchases of intangible assets, property, plant and equipment and biological assets) are adjusted either for payments not yet rendered to suppliers in the current period, or for payments rendered to suppliers for payables from prior periods. In the 2025 financial year, these mainly comprise payments not yet made to suppliers in the current period in the amount of EUR 12,350  thousand (2024: EUR 6,347 thousand).

Cash flow from financing activities includes repayments of hybrid capital in the amount of EUR 236,700 thousand and cash inflows from the issuance of hybrid capital in the amount of EUR 236,700 thousand (before deduction of transaction costs). For non-cash changes, please refer to note 26.