The net cash flow from operating activities was €355 million (2020: €914 million). The decrease compared with the previous year is mainly due to an increase in the availability payment asset and to the deferred payroll taxes repayment. The cash flow from investment activities was -€963 million (2020: -€602 million). This mainly concerns capital expenditure of €554 million and money market fund placements of €448 million. The effect of the deconsolidation of Abellio Germany is €35 million negative. The net cash flow from financing activities was €120 million (2020: €25 million) and originates from the balance of repayment of borrowings of €78 million, repayment of lease commitments of €478 million and new borrowings of €676 million. The above has resulted in a movement in cash and cash equivalents of -€488 million (2020: €337 million) and a closing balance of €680 million.