14.8.1. Changes in liabilities from financing activities and net debt

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Financial results
Explanatory notes to the statement of profit or loss and other comprehensive income
14. Explanatory notes to the statement of financial position
14.8. Net debt and equity management
14.8.1. Changes in liabilities from financing activities and net debt

14.8.1. Changes in liabilities from financing activities and net debt

	Loans and borrowings	Bonds	Cash	Short-term deposits	Net debt	Lease	Change in liabilities from financing activities
	*( A )*	*( B )*	*( C )*	*(D)*	*( A + B - C - D)*	*( E )*	*( A + B + E)*
01/01/2022	4,067	11,104	2 896	-	12,275	5,555	20,726
Cash changes
net proceeds/(outflows)	(10,598)	(826)	231	4	*(11,659)*	(892)	*(12,316)*
combination of units *	-	-	-	-	-	-	-
interest and fees paid	(349)	(304)	-	-	*(653)*	(211)	*(864)*
Non-cash changes
foreign exchange differences	65	83	661	-	*(513)*	45	*193*
valuation of debt	301	386	-	-	*687*	235	*922*
combination of units *	15,044	252	17,668	23	*(2,395)*	3,779	*19,075*
new lease agreements, increase in lease remuneration	-	-	-	-	-	1 913	*1,913*
Other**	-	-	-	-	-	(160)	*(160)*
31/12/2022	8,530	10,695	21,456	27	(2,258)	10,264	29,489

	Loans and borrowings	Bonds	Cash	Short-term deposits	Net debt	Lease	Change in liabilities from financing activities
	*( A )*	*( B )*	*( C )*	*(D)*	*( A + B - C - D)*	*( E )*	*( A + B + E)*
01/01/2021	3,996	10,364	1,240	60	13,060	5,214	19,574
Cash changes	-	-	-	-		-
net proceeds/(outflows)	(313)	773	1,367	(62)	(845)	(701)	*(241)*
acquisition of subsidiaries	-	-	183	-	(183)	-	-
interest and fees paid	(61)	(257)	-	-	(318)	(151)	*(469)*
Non-cash changes	-	-	-	-	-	-
foreign exchange differences	40	(80)	106	2	(148)	29	*(11)*
valuation of debt	70	304	-	-	374	158	*532*
acquisition of subsidiaries	335	-	-	-	335	126	*461*
new lease agreements, increase in lease remuneration	-	-	-	-	-	1 023	*1,023*
other**	-	-	-	-	-	(143)	*(143)*
31/12/2021	4,067	11,104	2,896	-	12,275	5,555	20,726

* the line includes also recognition of a joint operation in Rafineria Gdańska at the time of initial recognition ** other non-cash changes include mainly liquidation and accrued lease payments, most of which have been paid and recognised in cash changes in net inflows/(outflows).

The Group defined net debt as: non-current and current loans, borrowings and bonds lower by cash and short-term deposits.

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