2.6 Other comprehensive income and equity development
The increase of total equity from €200 million on 31 December 2023 to €205 million on 31 December 2024 is mainly explained by net profit for the year of €18 million and other comprehensive income of €8 million, partly offset by the payments of cash dividends of €22 million in total. Other comprehensive income mainly consisted of gains on cash flow hedges of €5 million and increases in value of financial assets at fair value through OCI of €3 million mainly related to the investment in Whistl.
Issued share capital and Additional paid-in capital
As at 31 December 2024, issued share capital amounted to €40 million (2023: €40 million) and additional paid-in capital amounted to €166 million (2023: €165 million). For details on Issued share capital and Additional paid-in capital, reference is made to note 4.6.
The following table presents the reserves included in the other reserves.
PostNL Other reserves in € million
2023, 2024
| Currency translation reserve | Hedge reserve | Financial assets at fair value OCI | Other reserves | Total other reserves | |
|---|---|---|---|---|---|
| Balance at 1 January 2023 | 2 | 0 | 11 | 1,267 | 1,281 |
| Total comprehensive income | 0 | (3) | (6) | 0 | (8) |
| Appropriation of net income | (1,313) | (1,313) | |||
| Share-based compensation | 0 | 0 | |||
| Balance at 31 December 2023 | 2 | (3) | 6 | (45) | (40) |
| Total comprehensive income | 1 | 5 | 3 | (0) | 8 |
| Appropriation of net income | 23 | 23 | |||
| Share-based compensation | (0) | (0) | |||
| Other | (1) | (1) | |||
| Balance at 31 December 2024 | 2 | 2 | 8 | (23) | (10) |
Currency translation reserve
As at 31 December 2024, the translation reserve amounted to €2 million (2023: €2 million), mainly reflecting the movement in exchange rate differences on converting subsidiaries of Spring within Parcels into euros.
Hedge reserve
As at 31 December 2024, the hedge reserve amounted to €2 million (2023: €(3) million). The tax impact on the cash flow hedges included in the hedge reserve as at 31 December 2024 is €(2) million (2023: €1 million). For more information, see note 4.5 to the Consolidated financial statements.
Financial assets at fair value through OCI
As at 31 December 2024, the reserve related to the financial assets at fair value through OCI amounted to €8 million (2023: €6 million). The increase in 2024 of €3 million mainly related to the increase in value of the investment in Whistl (2023: decrease of €6 million mainly related to Whistl). For more information, see note 4.2 to the Consolidated financial statements.
Other reserves
As at 31 December 2024, the other reserves amounted to €(23) million (2023: €(45) million). In 2024, the other reserves increased by €22 million mainly resulting from the appropriation of net income from 2023 of €23 million.
Retained earnings
As at 31 December 2024, retained earnings amounted to €6 million (2023: €34 million). In 2024, retained earnings decreased by €28 million due to the appropriation of net income from 2023 of €(23) million, the payment of cash dividends of €22 million, partly offset by the total profit for the year attributable to the shareholders of the parent of €17 million in 2024.
The Board of Management has proposed to make the profit for the year 2024 of €17 million and an amount of €14 million out of the distributable part of the shareholders' equity available for distribution of dividend. Refer to note 6.4 for more details of this proposal.