Every business in the Netherlands is required to prepare annual accounts. Understanding these requirements helps you stay compliant and avoid penalties.
What Are Annual Accounts?
Annual accounts are financial statements that provide an overview of your business's financial position at the end of the fiscal year. They typically include:
- Balance sheet: Shows assets, liabilities, and equity
- Profit and loss statement: Shows revenue, expenses, and profit
- Notes: Additional explanations and details
Who Must File?
Filing requirements depend on your business structure:
BV and NV Companies
Must file annual accounts with the KVK within 12 months after the fiscal year ends. The required detail depends on company size:
- Micro companies: Simplified balance sheet only
- Small companies: Balance sheet and limited notes
- Medium/large companies: Full financial statements
Sole Proprietors and Partnerships
Not required to file with the KVK but must prepare accounts for tax purposes.
Deadlines and Penalties
The general deadline for filing is 12 months after the fiscal year ends. Late filing can result in:
- Fines from the KVK
- Personal liability for directors in case of bankruptcy
- Damage to your business reputation
Professional Preparation
Accurately preparing annual accounts requires expertise in Dutch accounting standards. Glodinas Finance can prepare your annual accounts, ensuring compliance with all regulations.