6.3 Corporate statement of financial position

6.3.1 Investments in subsidiaries

The movement in the investments in subsidiaries is as follows:

PostNL N.V. Investments in subsidiaries in million
2023, 2024

20232024
Balance at 1 January721662
Share in result from subsidiaries6023
Dividend received(114)(20)
Exchange rate differences01
Other(4)3
Balance at 31 December662669

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6.3.2 Accounts receivable from group companies

As at 31 December 2024, accounts receivable from group companies amounted to €97 million (2023: €166 million) which mainly related to a receivable from PostNL Finance B.V. The fair value of the accounts receivable from and payable to group companies approximated the carrying value, due to the short-term nature. The allowance for expected credit losses has been assessed to be non-material.

6.3.3 Equity

PostNL N.V. Corporate statement of changes in equity in million
2023, 2024

Issued share capitalAdditional paid-in capitalCurrency translation reserveHedge
reserve
Financial assets at fair value OCIOther
reserves
Retained earningsTotal shareholders' equity
Balance at 1 January 20233916320111,267(1,306)177
Total comprehensive income 0(3)(6)05547
Appropriation of net income (1,313)1,3130
Final dividend previous year0(0) (7)(7)
Interim dividend current year0(0) (21)(21)
Share-based compensation02 0 2
Balance at 31 December 2023401652(3)6(45)34198
Total comprehensive income 153(0)1725
Appropriation of net income 23(23)0
Final dividend previous year0(0) (11)(11)
Interim dividend current year0(0) (11)(11)
Share-based compensation01 (0) 1
Other (1) (1)
Balance at 31 December 202440166228(23)6202

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The currency translation reserve, hedge reserve and the reserve related to the financial assets at fair value through OCI are legal reserves. The total amount of these legal reserves is €13 million (2023: €5 million).

6.3.4 Eurobonds

As at 31 December 2024, the eurobonds amounted to €596 million non-current (2023: €299 million non-current and €353 million current). For the disclosure on the eurobonds, reference is made to notes 4.1 and 4.5 to the Consolidated financial statements.

In 2024, the non-cash changes in the total debt amounted to €1 million (2023: €1 million) and related to the amortisation of costs included in the eurobonds.