Before appropriation of result
| | Issued capital | Share premium | Statutory reserve participations | Retained earnings | Net result for the year | Total equity |
Balance at 1 January 2019 | 225 | 41,367 | 3,504 | (15,119) | 3,175 | 33,152 |
Net result for the year | - | - | - | - | 4,264 | 4,264 |
Appropriation of result | - | - | - | 3,175 | (3,175) | - |
Change in statutory reserve participations | - | - | 957 | (957) | - | - |
Dividend paid | - | - | - | (3,000) | - | (3,000) |
Balance at 31 December 2019 | 225 | 41,367 | 4,461 | (15,901) | 4,264 | 34,416 |
Before appropriation of result
| | Issued capital | Share premium | Statutory reserve participations | Retained earnings | Net result for the year | Total equity |
Balance at 1 January 2018 | 225 | 41,367 | - | (12,275) | 4,660 | 33,977 |
Inclusion of statutory reserve participations | | | 2,151 | (2,151) | - | - |
Net result for the year | - | - | - | - | 3,175 | 3,175 |
Appropriation of result | - | - | - | 4,660 | (4,660) | - |
Change in statutory reserve participations | - | - | 1,353 | (1,353) | - | - |
Dividend paid | - | - | - | (4,000) | - | (4,000) |
Balance at 31 December 2018 | 225 | 41,367 | 3,504 | (15,119) | 3,175 | 33,152 |
Share capital
The shares have a face value of 1 euro. As at 31 December 2019, a total of 225,000 shares had been issued and paid up.
Legal reserve participations
To improve the transparency of Bouwinvest’s capital position, the company has formed a legal reserve participations for its financial position in the real estate funds. For comparison purposes, the recognition of the reserve has been accounted for retrospectively.
Result appropriation 2018
On 17 April 2019, the General Meeting of Shareholders adopted the 2018 financial statements. The General Meeting of Shareholders resolved to pay out a dividend of € 3,000,000 for 2018 and to add the remaining result of € 175,000 to the retained earnings.
Proposal for appropriation of profit 2019
It will be proposed to the General Meeting of Shareholders that it approve the addition of the result for 2019 of € 4,264,000 to the retained earnings, in line with the capital policy. The addition of this result will facilitate the growth of the organisation with a strengthened shareholders’ equity.
This proposal has not been incorporated in the financial statements.