Tiscali 2001 Annual Report Download - page 106

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FINANCIAL STATEMENTS ANALYSIS
To provide a comprehensive overview of the Consolidated Financial Statements, the
following tables contain a short analysis consisting of the reclassified Balance Sheet, the
reclassified Profit and Loss Statement, a series of Balance Sheet ratios and the
Consolidated Statement of changes in financial position. The Balance Sheet has been
reclassified according to a criterion of increasing liquidity and shows total current assets
and total current liabilities so as to allow an accurate valuation of overall financial position.
The reclassified Profit and Loss Statement has been drawn up in scalar format, and shows
aggregate values making up the operating margin, while respecting the principle cost
disclosure by type. For ease of reference, Balance Sheet Ratios are calculated on the
contents of the final consolidated financial statements of each of the two FYs under
comparison. The consolidated statement of changes in financial position aims at
highlighting in a comprehensive and structured manner the most significant changes in
the accounts. This statement is organised according to financial flows, as recommended by
the Accounting principles adopted by the Italian Association of Chartered Accountants -
Consiglio Nazionale dei Dottori Commercialisti e dei Ragionieri.
FINANCIAL STATEMENT ANALYSIS – BALANCE SHEET
98
ASSETS 12.31.2001 12.31.2000 CHANGE % CHANGE
CURRENT ASSETS
Cash and banks 384,881 1,379,232 (994,351) -72.09%
Receivables from customers 341,755 182,394 159,361 87.37%
Inventories 17,852 6,021 11,831 196.50%
Accrued income & def. charges 44,644 50,077 (5,433) -10.85%
Other current assets 165,752 59,507 106,245 178.54%
Total current assets 954,884 1,677,231 (722,347) -43.07%
NON-CURRENT ASSETS
Technical fixed assets 386,161 183,316 202,845 110.65%
Intangible assets 870,700 1,112,098 (241,398) -21.71%
Investments and securities 43,000 42,140 860 2.04%
Other fixed assets 5,788 13,594 (7,806) -57.42%
Total non-current assets 1,305,649 1,351,148 (45,499) -3.37%
TOTAL ASSETS 2,260,533 3,028,379 (767,846) -25.36%