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 |
Before appropriation of result
| | Issued capital | Share premium | Retained earnings | Net result for the year | Total equity |
Balance at 1 January 2016 | 225 | 41,367 | (16,592) | 4,422 | 29,422 |
Net result for the year | - | - | - | 2,595 | 2,595 |
Appropriation of result | - | - | 4,422 | (4,422) | - |
Dividend paid | - | - | (2,700) | - | (2,700) |
Balance at 31 December 2016 | 225 | 41,367 | (14,870) | 2,595 | 29,317 |
Appropriation of profit 2016
The General Meeting of Shareholders held on 19 April 2017 adopted and approved the 2016 financial statements. The profit of € 2,595,000 for 2016 was added to the retained earnings.
Proposal for appropriation of profit 2017
The management proposes that the General Meeting of Shareholders approve the proposal to pay a dividend of €4,000,000 and add the remaining € 660,000 of profit to the retained earnings. The net profit for 2017 amounted to
€ 4,660,000.
This proposal has not been incorporated in the financial statements.