If you own a limited company (bv), you are required to have a financial statement prepared every year to be filed with the Chamber of Commerce. Sole proprietors, partnerships (vof), and self-employed individuals (zzp’ers) are not obligated to file a financial statement. However, it can still be advisable for them to have one prepared. The financial statement is the comprehensive financial report of your business and, therefore, the most complete representation of your company’s financial health.
For a limited company (bv), a financial statement is mandatory. However, even sole proprietors may be asked for a financial statement, for example, by a lender or when applying for a mortgage. For Entrpnr customers, delivering the financial statement or provisional figures is relatively straightforward. We process your accounting on a daily basis, ensuring it is always up-to-date.
So, if a financial statement is not included in your subscription, please contact your bookkeeper.
The balance sheet provides an overview of your company's financial position at a specific point in time and reflects the outcome of consecutive changes in assets and liabilities resulting from business activities.
The profit and loss statement shows whether your business is making a profit or incurring a loss. It provides an overview of your company's revenue and expenses for that year.
The larger your company, the more financial information you will need to disclose. Small businesses in the explanatory notes only need to mention the number of employees and the method used to prepare the balance sheet. For larger legal entities, the explanatory notes may also need to include details such as payments to the board of directors, for example.
For larger enterprises, the financial statement is often a part of the annual report, which looks back on the business activities of the past year. Sole proprietorships and partnerships (vof's) are not required to create an annual report.
Do you have any questions about your bookkeeping, our services, submitting documents, or perhaps something entirely different? Feel free to give us a call, and we’ll be happy to help you.