2.6 Other comprehensive income and equity development
The decrease of total equity from €205 million on 31 December 2024 to €178 million on 31 December 2025 is mainly explained by a net loss for the year of €17 million and the payment of cash dividend of €15 million, partly offset by other comprehensive income of €3 million. Other comprehensive income mainly consisted of increases in value of financial assets at fair value through OCI of €6 million mainly related to the investment in Whistl, partly offset by losses on cash flow hedges of €2 million.
Issued share capital and Additional paid-in capital
As at 31 December 2025, issued share capital amounted to €41 million (2024: €40 million) and additional paid-in capital amounted to €166 million (2024: €166 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
Currency translation reserve | Hedge reserve | Financial assets at fair value OCI | Other reserves | Total other reserves | |
|---|---|---|---|---|---|
| Balance at 1 January 2024 | 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) |
Total comprehensive income | (1) | (2) | 6 | 0 | 3 |
Appropriation of net income | (9) | (9) | |||
Share-based compensation | 2 | 2 | |||
| Balance at 31 December 2025 | 1 | 1 | 15 | (30) | (14) |
Currency translation reserve
As at 31 December 2025, the translation reserve amounted to €1 million (2024: €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 2025, the hedge reserve amounted to €1 million (2024: €2 million). The tax impact on the cash flow hedges included in the hedge reserve as at 31 December 2025 is €0 million (2024: €(2) million). For more information, see note 4.5 to the Consolidated financial statements.
Financial assets at fair value through OCI
As at 31 December 2025, the reserve related to the financial assets at fair value through OCI amounted to €15 million (2024: €8 million). The increase in 2025 of €6 million mainly related to the increase in value of the investment in Whistl (2024: €3 million). For more information, see note 4.2 to the Consolidated financial statements.
Other reserves
As at 31 December 2025, the other reserves amounted to €(30) million (2024: €(23) million). In 2025, the other reserves decreased by €7 million mainly resulting from the appropriation of net income from 2024 of €(9) million.
Retained earnings
As at 31 December 2025, retained earnings amounted to €(16) million (2024: €6 million). In 2025, retained earnings decreased by €23 million due to the total loss for the year attributable to the shareholders of the parent of €16 million in 2025 and the payment of a cash dividend of €15 million, partly offset by the appropriation of net income from 2024 of €9 million.
The Board of Management has proposed to make an amount of €20 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.