6.2 Result for the year
6.2.1 Salaries, pensions and social security contributions
In 2023, salaries, pensions and social security contributions amounted to €2 million (2022: €76 million, excluding the impact of the change in accounting classification of the main pension plan of €1,354 million). In accordance with IAS 19.41, and only effective up to 2022, the net defined benefit cost for the company’s pension plans shall be recognised in the corporate financial statements. For PostNL, the contributions charged to other group companies were lower than the pension expense incurred, resulting in a negative amount of salaries, pensions and social security contributions over the year. For further information on defined benefit pension costs, see note 6.3.4 to the corporate financial statements. PostNL N.V. does not have any employees other than the Board of Management (2 FTE). For more information on the salary costs of the Board of Management, reference is made to note 5.1.
6.2.2 Net financial expense/(income)
PostNL has financing relationships with both external banks and with PostNL companies, mainly with PostNL Finance B.V. As a result, PostNL records both external interest income and expenses from financial institutions and from PostNL Finance B.V.
PostNL N.V. Net financial expense/(income) in € million
2022, 2023
| Year ended at 31 December | 2022 | 2023 |
|---|---|---|
| Interest expenses on long-term borrowings | 7 | 7 |
| Interest on net defined benefit pension liabilities | 2 | 0 |
| Other interest and similar expense | 1 | 0 |
| Interest and similar expense | 9 | 7 |
| Other interest and similar income | (0) | (4) |
| Net financial expense/(income) | 9 | 3 |
Interest expenses on long-term borrowings relate to the outstanding eurobonds. Reference is made to note 4.1 to the consolidated financial statements.