Page 85 - InterEnergo - Annual Report 2020

Interenergo Accounting report Interenergo Accounting report

2.4.10 Cash and cash equivalents Company’s non-current financial liabilities primarily relate to the borrowings granted by KI-Kelag International
in the amount of EUR 60,427,190 (2019: EUR 23,823,066), which bear the fixed interest rates ranging from
1.5% to 3.6% and are not secured. The borrowings mature between 2030 and 2035. The borrowings are used
in EUR 31 Dec 2020 31 Dec 2019 for financing investments in projects relating to renewable energy sources based on energy contracting. The
Cash 8,432,215 6,055,013 remaining non-current investments refer to payables arising from the purchase of investments and to leases.
Bank balances 7,186,073 4,042,838
Movement of non-current financial liabilities
Cash on other accounts 1,176,586 1,767,547
Short-term deposits 69,555 244,628 in EUR 31 Dec 2020 31 Dec 2019

Balance at 1 January 24,285,059 29,660,916
2.4.11 Equity Increase in borrowings 54,344,867 88,705,000

Repayment of borrowings -17,740,743 -91,659,942
in EUR 31 Dec 2020 31 Dec 2019 Increase in other non-current financial liabilities 852,868 470,350
Equity 63,562,437 62,453,712 Decrease in other non-current financial liabilities -131,413 -191,265
Share capital 10,200,000 10,200,000 Other changes 0 -2,700,000
Capital surplus 65,450,000 65,450,000 Balance at 31 December 61,610,638 24,285,059

Revenue reserves 95,722 95,722
Retained losses -13,292,010 -18,460,101 Based on the new IFRS 16 standard, the Company discloses in its statement of financial position the non-current
Profit or loss for the period 1,108,725 5,168,092 labilities from operating and finance leases, in which it acts as lessee of business premises, office furniture
and passenger cars. Non-current lease liabilities are due not later than by the year-end of 2024.

Revenue reserves comprise legal reserves and capital surplus that arises from additional contributions paid Movement of non-current lease liabilities
by the sole shareholder. Profit for the period covers the loss from previous periods.

in EUR 2020 2019
Accumulated profit or loss for 2020
Balance at 1 Jan 136,965 248,503
Increase 29,944 49,876
in EUR 2020 2019
Profit for the period 1,108,725 5,168,092 Changes 203 -6,748
Interest 2,028 2,019
Retained earnings or losses from previous periods -13,292,010 -18,460,101
Repayments -120,863 -156,686
Accumulated loss -12,183,285 -13,292,010
Balance at 31 Dec 48,277 136,965

2.4.12 Non-current financial liabilities
2.4.13 Other non-current liabilities

in EUR 31 Dec 2020 31 Dec 2019
in EUR 31 Dec 2020 31 Dec 2019
Non-current financial liabilities 61,610,638 24,285,059
Other non-current liabilities 556,018 1,165,272
Non-current borrowings 60,427,190 23,823,066
Non-current lease liabilities 48,277 136,965 Accrued costs 494,093 1,088,482
Long-term deferred costs 61,925 76,790
Other non-current financial liabilities 1,135,171 325,028

Accrued costs comprise primarily the variable earnings of the employees that are to be paid out in a period
longer than one year.

82 Integrated Annual Report 2020 Integrated Annual Report 2020 83