6.1 Consolidated financial statements

Consolidated balance sheet as at 31 December (€ x 1,000)

Assets	Note	2024	2023
Fixed assets
Intangible fixed assets	1	13,706	10,156
Tangible fixed assets	2	43,845	42,636
Deferred tax assets	3	839	1,373


		58,390	54,165
Current assets
Inventories	4	32,038	38,904
Income tax receivable		1,974	75
Trade and other receivables	5	40,623	36,566
Cash and cash equivalents	6	4,357	10,156


		78,992	85,701


		137,382	139,866
Liabilities
Group equity
Shareholders' equity	7	83,703	85,331

Non-current liabilities
Borrowings	8	14,000	14,000
Lease liabilities	9	756	837
Employee benefits	10	1,061	1,001
Provisions	11	464	682
Deferred tax liabilities	3	457	-


		16,738	16,520
Current liabilities
Lease liabilities	9	988	957
Employee benefits	10	59	85
Provisions	11	878	1,010
Bank overdrafts	12	-	-
Income tax payable		161	600
Taxation and social security contributions		4,358	4,047
Trade and other payables	13	30,497	31,316

		36,941	38,015

Total liabilities		53,679	54,535

		137,382	139,866

Consolidated statement of profit or loss (€ x 1,000)

	Note	2024	2023



Revenue	14	251,606	262,426

Cost of materials and outsourced work		-64,418	-89,717
Inventory movements of finished goods and work in progress		-7,290	8,270


		-71,708	-81,447


Added value		179,898	180,979

Personnel costs	15	-114,802	-112,059
Amortization	16	-570	-389
Depreciation	17	-9,896	-9,718
Impairment of assets	18	-278	-
Other operating costs	19	-30,463	-31,490



Operating costs		-156,009	-153,656


Operating result		23,889	27,323

Financing income		89	39
Financing costs		-1,033	-770


Net financing costs		-944	-731


Result before taxation from continued operations		22,945	26,592
Taxation	20	-4,418	-5,032


Result for the financial year from continued operations		18,527	21,560

Result for the financial year from discontinued operations		-	81


Result for the financial year		18,527	21,641

Result attributable to shareholders of Nedap N.V.		18,527	21,641

Average number of outstanding shares	7	6,581,074	6,546,636

Earnings per ordinary share from continued operations (in €)		2.82	3.29
Diluted earnings per ordinary share from continued operations (in €)		2.82	3.29

Earnings per ordinary share (in €)		2.82	3.31
Diluted earnings per ordinary share (in €)		2.82	3.31

Consolidated statement of comprehensive income (€ x 1,000)

	2024	2023



Result for the financial year from continued operations	18,527	21,560
Result for the financial year from discontinued operations	-	81


Result for the financial year	18,527	21,641

Unrealized result

Items that will (or may) be reclassified to profit or loss after initial recognition:
Currency translation differences	518	-315


Unrealized result for the financial year, after taxation	518	-315


Total realized and unrealized result for the financial year	19,045	21,326



Total realized and unrealized result for the financial year attributable to:
Nedap N.V. shareholders	19,045	21,326

Consolidated statement of cash flows (€ x 1,000)

	Note	2024	2023


Cash flow from operating activities
Result for the financial year from continued operations		18,527	21,560

Adjustments for:
Depreciation and amortization including impairment	16,17,18	10,744	10,107
Book result on sale of tangible fixed assets		-154	-204
Exchange differences		-	-164
Net financing costs		944	731
Share-based remuneration		-1,806	575
Income taxes	20	4,418	5,032


		14,146	16,077

Movements in trade and other receivables	5	-3,875	6,840
Movements in inventories	4	7,203	-11,158
Movements in taxation and social security contributions		305	1,996
Movements in trade and other payables		-505	-826
Movements in employee benefits	10	34	82
Movements in provisions	11	-350	-111


		2,812	-3,177

Interest paid		-950	-675
Interest received		89	39
Income tax paid		-5,753	-4,969


		-6,614	-5,605


Cash flow from operating activities from continued operations		28,871	28,855
Cash flow from operating activities from discontinued operations		-	978


Cash flow from operating activities		28,871	29,833

Cash flow from investing activities
Investments in tangible fixed assets	2	-10,897	-10,689
Investments in intangible fixed assets	1	-4,175	-7,698
Proceeds from sale of tangible fixed assets		367	313
Proceeds from sale of Nedap Beveiligingstechniek B.V.		-	23


Cash flow from investing activities from continued operations		-14,705	-18,051
Cash flow from investing activities from discontinued operations		-	-1,104


Cash flow from investing activities		-14,705	-19,155

Consolidated statement of cash flows (€ x 1,000)

	Note	2024	2023


Cash flow from financing activities
Repayments on long-term borrowings and derivatives	21,22	-	-
Lease payments		-1,211	-1,069
Dividend paid to shareholders of Nedap N.V.		-21,083	-19,662
Dividend received from Nedap Beveiligingstechniek B.V.		-	982
Sale of own shares		2,216	1,898


Cash flow from financing activities from continued operations		-20,078	-17,851
Cash flow from financing activities from discontinued operations		-	-3


Cash flow from financing activities		-20,078	-17,854



Movements in cash and cash equivalents and bank overdrafts		-5,912	-7,176

Cash and cash equivalents and bank overdrafts at 1 January		10,156	17,483
Exchange differences for cash and cash equivalents and bank overdrafts		113	-151


Cash and cash equivalents and bank overdrafts at 31 December		4,357	10,156

Consolidated statement of changes in shareholders’ equity (€ x 1,000)

	Share capital	Statutory reserves	Other reserves	Result attributable to shareholders	Total shareholders' equity

Balance as at 1/1/2023	669	1,739	60,082	18,704	81,194

Realized result for financial year	-	-	-	21,641	21,641
Unrealized result for financial year	-	-315	-	-	-315


Result for financial year	-	-315	-	21,641	21,326

Dividend	-	-	-19,662	-	-19,662
Appropriation of result for previous financial year	-	669	18,035	-18,704	-
Movement in share-based remuneration	-	-	575	-	575
Movement in own shares	-	-	1,898	-	1,898


Balance as at 31/12/2023	669	2,093	60,928	21,641	85,331

Realized result for financial year	-	-	-	18,527	18,527
Unrealized result for financial year	-	518	-	-	518


Result for financial year	-	518	-	18,527	19,045

Dividend	-	-	-21,083	-	-21,083
Appropriation of result for previous financial year	-	2,485	19,156	-21,641	-
Movement in share-based remuneration	-	-	-1,806	-	-1,806
Movement in own shares	-	-	2,216	-	2,216


Balance as at 31/12/2024	669	5,096	59,411	18,527	83,703

Movement in own shares concerns the sale of shares held by the company itself to cover employee participation plans, plus or less changes in shareholders’ equity relating to the recognition of liabilities under IFRS 2 regarding these employee participation plans.

Consolidated statement of changes in shareholders’ equity (€ x 1,000)

Share-based remuneration reserve¹	2024	2023


Bonus depositary receipts	627	503
10% purchase discount	139	155
NAPP reserve	-	1,914


Total	766	2,572

1The share-based remuneration reserve is part of 'other reserves' in the shareholders' equity.

Statutory reserves	2024	2023


Capitalized development costs	4,804	2,350
Exchange differences	280	-269
Result from participations not freely distributable	12	12


Total	5,096	2,093

Dividend per share for the 2024 financial year has been set at €3.20 (€3.20 in 2023).

Consolidated balance sheet as at 31 December (€ x 1,000)

Consolidated statement of profit or loss (€ x 1,000)

Consolidated statement of comprehensive income (€ x 1,000)

Consolidated statement of cash flows (€ x 1,000)

Consolidated statement of cash flows (€ x 1,000)

Consolidated statement of changes in shareholders’ equity (€ x 1,000)

Consolidated statement of changes in shareholders’ equity (€ x 1,000)

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