Catom Annual Report 2020 EN

10. Off-balance sheet rights and obligations

10.1 Operating leases Obligations under operating leases at year-end are as follows:

€

Amounts payable:

Within one year

298,368

Between one year and five years

425,944

More than five years

0

The following was charged to the profit and loss account during the year:

€ Lease payments

345,924

10.2. Liability of a tax entity The company and its subsidiaries constitute a tax entity for the purposes of corporation tax and turnover tax. Based on the standard conditions for tax entities, the company and each of its subsidiaries are jointly and severally liable for the taxes payable by the tax entity. 10.3. Credit facilities Together with its group companies, the company has set up a credit facility in connection with a factoring agreement. Each group company is jointly and severally liable for this facility. The financing ceiling for the entire facility amounts to € 50,000,000. Security has been provided for this credit facility in the form of a pledge of receivables with a payment term of no more than 90 days.

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