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Financial statements

8 Shareholders’ equity

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.

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