Invibes Advertising N : Half-year 2021 - Consolidated financial statements

INVIBES ADVERTISING NV

TECHNOLOGIEPARK 82

9052 ZWIJNAARDE

CONSOLIDATED FINANCIAL STATEMENTS

Interim accounts

From January 1st, 2021 to June 30th, 2021

INVIBES ADVERTISING NV Group

Consolidated accounts on June 30th, 2021

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RSM France

INVIBES ADVERTISING NV Group

Consolidated accounts on June 30th, 2021

	Table of contents
Consolidated balance sheet ..................................................................................................	5
Consolidated income statement ...........................................................................................	6
Comprehensive income.........................................................................................................	7
Statement of changes in equity ............................................................................................	7
Cash flow statement .............................................................................................................	8
1.	GENERAL INFORMATION................................................................................................	9
1.1. Accounting principles and IFRS estimating methods ...............................................................................................	9
1.2. Determining accounting estimates and judgements.................................................................................................	9
1.3.	Major operations.......................................................................................................................................................................	10
1.4. Scope of the consolidation level ........................................................................................................................................	11
1.5. Translation of the accounts and the operations denominated in a foreign currency ...........................	12
1.6.	Intangible assets........................................................................................................................................................................	13
1.7.	Tangible assets...........................................................................................................................................................................	13
1.8.	Leases..............................................................................................................................................................................................	14
1.9. Impairment loss of tangible and intangible assets..................................................................................................	14
1.10.	Accounts receivable............................................................................................................................................................	15
1.11.	Other debtors.........................................................................................................................................................................	15
1.12.	Prepaid Expenses.................................................................................................................................................................	15
1.13.	Financial assets and liabilities.......................................................................................................................................	15
1.14.	Loans and other financial liabilities ...........................................................................................................................	15
1.15.	Provisions ................................................................................................................................................................................	16
1.16.	Employee benefits ...............................................................................................................................................................	16
1.17.	Consolidated sales revenue ............................................................................................................................................	16
1.18.	Other operating income and expenses .....................................................................................................................	17
1.19.	Cost of financing and other financial income and expenses..........................................................................	17
1.20.	Taxes...........................................................................................................................................................................................	17
1.21.	Payable tax...............................................................................................................................................................................	17
1.22.	Deferred tax ............................................................................................................................................................................	17
1.23.	Earnings per share ..............................................................................................................................................................	18
1.24.	Shareholders' equity...........................................................................................................................................................	18
1.25.	Credit risk.................................................................................................................................................................................	18
1.26.	Liquidity risk..........................................................................................................................................................................	19
1.27.	Market risk ..............................................................................................................................................................................	19
1.28.	Exchange rate risk...............................................................................................................................................................	19
1.29.	Interest rate risk...................................................................................................................................................................	19
1.30.	Operating segment information...................................................................................................................................	19
2. NOTES ON THE ASSETS .................................................................................................	20
2.1	Goodwill.........................................................................................................................................................................................	20
2.2	Intangible assets........................................................................................................................................................................	20
2.3	Tangible assets...........................................................................................................................................................................	21
2.4	Investments and non-current financial assets...........................................................................................................	21
2.5	Trade receivables and other current assets................................................................................................................	22
2.6	Financial assets at fair value ...............................................................................................................................................	22
2.7	Cash and cash equivalents....................................................................................................................................................	22
3. NOTES ON THE LIABILITIES ...........................................................................................	23
3.1	Loans and financial liabilities .............................................................................................................................................	23
3.2	Supplier accounts payable and other current liabilities.......................................................................................	23
4.	NOTES ON THE PROFIT AND LOSS ACCOUNT ...............................................................	24
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	RSM France

INVIBES ADVERTISING NV Group

Consolidated accounts on June 30th, 2021

4.1	Operating segments.................................................................................................................................................................	24
4.2	Salaries and social charges...................................................................................................................................................	24
4.3	Amortization expenses and provisions .........................................................................................................................	24
4.4	Other operating income and expenses ..........................................................................................................................	24
4.5	Financial income........................................................................................................................................................................	25
4.6	Gains and losses related to transactions.......................................................................................................................	25
4.7	Tax expenses ...............................................................................................................................................................................	25
5.	ADDITIONAL INFORMATION ........................................................................................	26
5.1	Off-balance sheet commitments........................................................................................................................................	26
5.2	Related parties............................................................................................................................................................................	26
5.3	Distribution of dividends......................................................................................................................................................	26

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RSM France

INVIBES ADVERTISING NV Group

Consolidated accounts on June 30th, 2021

Consolidated balance sheet

ASSETS in thousands of euros	Note	30/06/2021	31/12/2020
NON-CURRENT ASSETS
Goodwill	2.1	2 100	2 100
Intangible assets	2.2	2 409	1 988
Tangible assets	2.3	702	421
Investments in associates	2.4	0	0
Non-current financial assets	2.4	996	1 284
Non-current tax assets
	TOTAL NON-CURRENT ASSETS		6 207	5 793
CURRENT ASSETS
Inventories and work in progress		0	0
Accounts receivables	2.5	4 490	2 862
Current tax assets	2.5	408	413
Other current assets	2.5	2 818	2 393
Cash and cash equivalents	2.7	9 172	6 867
Assets held for sale
	TOTAL CURRENT ASSETS		16 888	12 535
TOTAL ASSETS		23 095	18 328
	LIABILITIES AND EQUITY in thousands of euros	Note	30/06/2021	31/12/2020
	EQUITY
	Share capital, share premiums		11 665	6 665
	Other reserves		638	636
	Net income attributable to the parent company		307	260
	TOTAL EQUITY ATTRIBUTABLE TO THE PARENT COMPANY		12 610	7 561
	Minority interests		64	42
	TOTAL EQUITY		12 673	7 602
	NON-CURRENT LIABILITIES
	Long-term financial liabilities	3.1	2 416	2 994
	Deferred tax liabilities
	Long-term provisions		102	72
	Accounts payable and other long-term creditors
	TOTAL NON-CURRENT LIABILITIES		2 519	3 066
	CURRENT LIABILITIES
	Accounts payables	3.2	2 215	2 352
	Current part of long-term loans and financial liabilities	3.1	3 374	2 652
	(including current overdrafts and accrued interest)
	Tax liabilities	3.2	0	0
	Current provisions
	Other current liabilities	3.2	2 314	2 656
	Liabilities held for sale
	TOTAL CURRENT LIABILITIES		7 903	7 660
	TOTAL EQUITY AND LIABILITIES		23 095	18 328

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RSM France