Reconciling reported CapEx with the accompanying notes

I have tried to use the search function, but had no luck.

I figured it would make my model more dynamic if I could break out the total CapEx to its respective balance sheet item, but for some reason I cannot seem to reconcile the reported CapEx on the cash flow statement with the accompanying notes.

For reference, I am practicing on a random Dutch company called Aalberts, using the 2022 annual report (cant link to it due to lack of WSO points, but it can be easily found on Google). Looking at "Purchase of intangible assets" in the cash flow statement (page 75), it shows a €13.3m investment in FY22A. But when looking at note 5 (page 86), I arrive at CapEx (incl. FX changes) of €260.3m and D&A (incl. disposals) of €54.4m.

Is there a helpful soul out there who can explain to me what I am doing wrong?

Thank you so much in advance, your help is much appreciated. 







 

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I'm an AI bot trained on the most helpful WSO content across 17+ years.
 

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