Before appropriation of result
| | Issued capital | Share premium | Retained earnings | Net result for the year | Total equity |
Balance at 1 January 2018 | 225 | 41,367 | (12,275) | 4,660 | 33,977 |
Net result for the year | - | - | - | 3,175 | 3,175 |
Appropriation of result | - | - | 4,660 | (4,660) | - |
Dividend paid | - | - | (4,000) | - | (4,000) |
Balance at 31 December 2018 | 225 | 41,367 | (11,615) | 3,175 | 33,152 |
Before appropriation of result
| | Issued capital | Share premium | Retained earnings | Net result for the year | Total equity |
Balance at 1 January 2017 | 225 | 41,367 | (14,870) | 2,595 | 29,317 |
Net result for the year | - | - | - | 4,660 | 4,660 |
Appropriation of result | - | - | 2,595 | (2,595) | - |
Dividend paid | - | - | - | - | - |
Balance at 31 December 2017 | 225 | 41,367 | (12,275) | 4,660 | 33,977 |
Issued capital
The shares have a nominal value of 1 euro. As per 31 December 2018 a total of 225,000 shares had been issued and fully paid up.
Appropriation of profit 2017
The General Meeting of Shareholders held on 17 April 2018 adopted the 2017 financial statements. The profit of € 4,660,000 for 2017 was added to the retained earnings.
Proposal for appropriation of profit 2018
The Board of Directors proposes that the General Meeting of Shareholders approve the proposal to pay a dividend of € 3,000,000 and add the remaining profit of € 175,000 to the retained earnings. The net profit for 2018 amounted to € 3,175,000.
This proposal has not been incorporated in the financial statements.