STATEMENT OF PROFIT AND LOSS FOR THE YEAR ENDED 31 DECEMBER 2017

	2017	2016
	€	€
Income	368.650	351.979
Cost of sales	(278.120)	(265.199)
Gross profit	90.530	86.780
Other income	3.339	2.966
Administrative expenses	(129.383)	(219.433)
Other expenses	-	(5,126,000
Loss from operations	(35.514)	(5.255.687)
Finance income	48	67
Finance cost	(77.964)	(248)
Profit / (loss) from investment activities	255.646	(314.758)
Profit / (loss) before taxation	142.216	(5.570.626)
Tax expense	(3,091)	(3,260)
Profit / (loss) for the year	139,125	(5.573.886)
Earnings / (loss) per share (cents)	0.05	(1.98)
Basic earnings / (loss) per share	0.05	(1.98)
Impaired earnings / (loss) per share

STATEMENT OF TOTAL INCOME FOR THE YEAR ENDED 31 DECEMBER 2017

	2017 €	2016 €
Profit/(Loss) for the year	139.125	(5.573.886)

Other total income / (loss):
Items which may be later reclassified to profit and loss:
Financial assets available for sale – change in fair value	10.234	(7.676)
Other total income / (loss)	10.234	(7.676)
Total income / (losses) for the year	149.359	(5.581.562)

	2017	2016
	€	€
ASSETS
Non-current assets
Property, plant and equipment	10.737	13.062
Investment in property	1.050.000	7.300.00
Financial assets available for sale	598.906	588.672
Loans receivable	85.380	85.380
	7. 745.023	7.987.114

Current assets
Trade and other receivables	209.484	168.148
Financial assets at fair value through profit and loss	796.187	1.089.252
Current tax claims	21.232	21.232
Cash and cash equivalents	2.338.339	202.203
	3.365.242	1.480.835
Non-current assets held for sale	6.500,000	-
TOTAL ASSETS	11.610.265	9.467.949
EQUITY AND LIABILITIES
Equity
Share capital	9.171.921	9.171.921
Other reserves	416.625	406.390
Accumulated losses	(5.407.985)	(5.547.110)
Total equity	4.180.561	4.031.202

Non-current liabilities
Borrowings	85.380	85.380
	85.380	85.380
Current liabilities
Trade and other creditors	2.218.324	225.367
Provision for liabilities	5.126.000	5.126.000
	7.344.324	5.351.367
Total liabilities	7.429.704	5.436.747
TOTAL EQUITY AND LIABILITIES	11.610.265	9.467.949

	2017	2016
	€	€
Cash flow for operations
Profit / (loss) before taxation	142.216	(5.570.628)
Adjustments for:
Depreciation of property, plant and equipment	2.325	3.046
(Gains) / losses of fair value in investment property	(250.000)	300.000
(Gains) / losses of fair value in financial assets at fair value through profit
and loss	(5.646)	14.758
Provisions for legal claims	-	5.126.000
Credit dividends	(34.467)	(33.284)
Credit interest	(48)	(67)
Debit interest	-	12
	(145.620)	(160.161)
Changes in working capital other than exchange differences:
Trade and other receivables	(41.336)	13.654
Trade and other creditors	1.992.957	17.013
Cash flow from / (for) operations	1.806.001	(129.494)
Tax paid	(3.091)	(3.260)
Net cash from / (for) operations	1.802.910	(132.754)

Investing activities
Sale of financial assets at fair value through profit and loss	298.711	-
Interest received	48	67
Dividends received	34.467	33.284
Net cash from investing activities	333.226	33.351
Financing activities
Interest paid	-	(12)
Net cash from financing activities	-	(12)

Net increase / (decrease) in cash and cash equivalents	2.136.136	(99.415)
Cash and cash equivalents:
At beginning of year	202.203	301.618
At end of year	2.338.339	202.203