Page 36 - Financial Statements 2014, 2015 & 2016

AVSERMA Aviations Services &
Financial Statements Management Co. N.V.
3. Statement of changes in equity Financial statements 2014

Statement of changes in equity

Result
Statement of Share Share Retained current
changes in equity capital premium earnings year Total
AWG AWG AWG AWG
Movement 2013
Balance as per Jan. 1 3,600,000 500,000 (3,568,221) 7,410 539,189
Determination of result - - 7,410 (7,410) -
Additional capital 160,000 - - 160,000
Net result 2013 - - - (179) (179)

Balance as per
December 31, 2013 3,600,000 660,000 (3,560,811) (179) 699,010

Movement 2014
Determination of result - - (179) 179 -
Additional capital - 100,000 - - 100,000
Net result 2014 - - - 46,142 46,142

Balance as per
December 31, 2014 3,600,000 760,000 (3,560,990) 46,142 845,152

The authorized share capital amounts to AWG 3,600,000 of which AWG 3,600,000 was issued
and fully paid up as per December 31, 2014. The determination of the result is based on a
yearly decision of in the general meeting of shareholders of the Company.

The notes form an integral part of these financial statements

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