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CONSOLIDATED STATEMENTS OF CASH FLOWS - EUR (€)
€ in Thousands
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
OPERATING ACTIVITIES:      
Profit for the year € 33,894 € 10,491 € 12,787
Adjustments to reconcile profit for the year to net cash provided by operating activities:      
Income tax expense 12,551 7,299 11,037
Interest income (7,683) (5,250) (5,179)
Interest expense 31,451 40,036 32,325
Impairment losses (income) on financial assets   (5) 5,889
Remeasurement of previously held equity-accounted investee 0 (7,698)  
Other financial expenses (income) (2,885) 1,411 96
Foreign currency gains, net (23,205) (26,690) (5,437)
Amortization and impairment of intangible asset 201,620 172,831 119,048
Depreciation of property and equipment 14,596 11,982 10,327
Equity-settled share-based payments 41,177 28,299 15,431
Share of loss of equity-accounted investees 3,699 4,082 1,485
Loss on disposal of equity-accounted investee 13,604    
Other (3,790) (3,178) (876)
Cash flow from operating activities before working capital changes, interest and income taxes 315,029 233,610 196,933
Increase in trade receivables, contract assets, other assets and prepayments (16,100) (53,519) (69,896)
Increase (decrease) in trade and other payables, contract and other liabilities (1,477) 32,159 44,385
Changes in working capital (17,577) (21,360) (25,511)
Interest paid (30,528) (33,591) (31,060)
Interest received 7,677 5,091 165
Income taxes paid (15,956) (15,673) (8,306)
Net cash from operating activities 258,645 168,077 132,221
INVESTING ACTIVITIES:      
Acquisition of intangible assets (185,493) (154,266) (124,890)
Acquisition of property and equipment (14,786) (8,288) (5,861)
Acquisition of subsidiaries, net of cash acquired (12,844) (56,245) (198,432)
Proceeds from dissolution of equity-accounted investee 15,172    
Acquisition of financial assets (3,716)   (2,605)
Contribution to equity-accounted investee   (27,873) (45)
Proceeds from disposal of subsidiaries 778    
Proceeds from sale of intangible and tangible assets 154    
Collection of loans receivable 41 208 265
Issuance of loans receivable (935)   (2,270)
Collection of deposits 623   222
Payment of deposits (1,084) (103) (152)
Net cash used in investing activities (202,090) (246,567) (333,768)
FINANCING ACTIVITIES:      
Payment of lease liabilities (7,983) (5,958) (7,118)
Purchase of treasury shares (9,022) (3,837)  
Principle payments on bank debt (620) (420,685) (2,376)
Change in bank overdrafts (7) (23) (22)
Acquisition of non-controlling interests   (28,245)  
Transaction costs related to borrowings   (1,100)  
Proceeds from issuance of MPP share awards     1,650
Proceeds from issue of participation certificates     1,002
Proceeds from issuance of new shares     556,639
Transaction costs related to issuance of new shares and participation certificates     (10,009)
Net cash (used in) from financing activities (17,632) (459,848) 539,766
Net increase (decrease) in cash and cash equivalents 38,923 (538,338) 338,219
Cash and cash equivalents as of January 1 243,757 742,773 385,542
Effects of movements in exchange rates (5,506) 39,322 19,012
Cash and cash equivalents as of December 31 € 277,174 € 243,757 € 742,773