All amounts in € thousands
| | Note | 2015 | 2014 |
Operating activities | | | |
Rental receipts | | 10,864 | 10,842 |
Service charge receipts | | 263 | 267 |
Operating payments | | (1,422) | (610) |
Service charge payments | | (334) | (441) |
VAT received (paid) | | (1,664) | 14,948 |
Interest received | | - | 9 |
Cash flows from operating activities | | 7,707 | 25,015 |
| | | | |
Investment activities | | | |
Proceeds from sale of investment property | | - | - |
Payments of investment property | | (4,193) | (1,638) |
Cash flows from investment activities | | (4,193) | (1,638) |
| | | | |
Finance activities | | | |
Payment of share premium | | 5,000 | - |
Repayment of share premium | | (2,250) | (12,750) |
Dividends paid | | (9,550) | (8,847) |
Cash flows from finance activities | | (6,800) | (21,597) |
| | | | |
Net increase/ (decrease) in cash and cash equivalents | | (3,286) | 1,780 |
Cash and cash equivalents at beginning of year | | 4,219 | 2,439 |
Cash and cash equivalents at end of year | 14 | 933 | 4,219 |