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Current assets:
To December 31, 2013, this amount showed an increase
of 41%, ¢80,083 million, with regards to December 2012. The accounts
reflecting the most significant variations are the following:
Cash and cash equivalent:
This item includes cash, banks and
investments. The balance for December 2013 was ¢71,324 million, showing
an increase of ¢36,511 million with regards to the balance in 2012. As
explained before, cash is committed, as it originates from bonds issued in
2012 and 2013, among other aspects, used for ongoing investment projects
for the end of the term. The balance also includes important past deposits
made by ICE at the end of December, for purchasing fuel.
Accounts receivable:
This item decreased in ¢1,110 million
(-44%), mainly from accounts receivable from the government, including
Tax Authorities for tax credits resulting from the 2% retention over income
tax in favor of the company.
32
Annual Report 2013 www.recope.com
Analysis of the financial statements
BALANCE SHEET