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 |
Before appropriation of result
| | Issued capital | Share premium | Retained earnings | Net result for the year | Total equity |
Balance at 1 January 2015 | 225 | 41,367 | (17,579) | 3,173 | 27,186 |
Net result for the year | - | - | - | 4,422 | 4,422 |
Appropriation of result | - | - | 3,173 | (3,173) | - |
Dividend paid | - | - | (2,186) | - | (2,186) |
Balance at 31 December 2015 | 225 | 41,367 | (16,592) | 4,422 | 29,422 |
Appropriation of profit 2015
The General Meeting of Shareholders held on 18 April 2016 adopted and approved the 2015 financial statements. A dividend of € 2,700,000 has been paid. The profit for 2015 of € 1,721,740 was added to the retained earnings.
Proposal for appropriation of profit 2016
The management proposes that the General Meeting of shareholders approve the proposal to incorporate € 2,595,000 of the profit to the retained earnings.
This proposal has not been incorporated in the financial statements.