Financial statements

NOTE 21



FINANCIAL INCOME AND EXPENSES

Financial income for the year ended 31 December 2018 is as follows:

III - FINANCIAL INCOME AND EXPENSES 31/12/18 31/12/17
1. Financial income and expenses
a) Financial income 1.108.901 973.240
Equity investments 76.690 4.460
From fixed income investments 432.087 513.174
Interest on loans 11.943 7.186
From current account and deposits 577.891 409.966
From promissory notes 5.290 38.454
Other financial revenues 5.000 0
c) Change in fair value of financial instruments -2.706.339 27.410.617
Change in fair value of financial instruments -2706.339 27.410.617
d) Exchange differences 125.903 -113.565
Negative differences -79.901 -198.467
Positive differences 205.804 84.902
NET FINANCIAL INCOME/(EXPENSE) -1.471.535 28.270.292