All amounts in € thousands
| | Note | 2015 | 2014 |
Operating activities | | | |
Rental receipts | | 1,961 | 1,158 |
Service charge receipts | | 11 | 17 |
Operating payments | | (471) | (341) |
Service charge payments | | (19) | (20) |
VAT received (paid) | | 2 | (7) |
Interest received | | - | 1 |
Cash flows from operating activities | | 1,484 | 808 |
| | | | |
Investment activities | | | |
Proceeds from sale of investment property | | 5,738 | - |
Payments of investment property | | (15,819) | (3,064) |
Cash flows from investment activities | | (10,081) | (3,064) |
| | | | |
Finance activities | | | |
Proceeds from the issue of share capital | | 18,000 | 4,000 |
Dividends paid | | (1,416) | (552) |
Cash flows from finance activities | | 16,584 | 3,448 |
| | | | |
Net increase in cash and cash equivalents | | 7,987 | 1,192 |
Cash and cash equivalents at beginning of year | | 2,251 | 1,059 |
Cash and cash equivalents at end of year | 14 | 10,238 | 2,251 |