You aim to fulfill your legal obligations while minimizing the use of your internal resources.
Annual Financial Statements
A Legal Obligation and a Strategic Asset
For partnerships, corporations, and many sole proprietors, preparing annual financial statements is mandatory. For sole proprietors and freelancers it is not required to prepare annual financial statements, we handle the preparation of the income-surplus statement (EÜR), which also provides valuable insights.
With us, your annual financial statements and income-surplus statements become more than mere documentation – they serve as essential tools for your business decisions.
Why clients choose us
Whether you have a specific issue or seek general information, we are here to assist you.
You expect practical management tools and meaningful information for banks, customers, suppliers, or investors.
Our Services at a Glance
- (Consolidated) annual financial statements according to HGB / IFRS and disclosure
- Tax balance sheet and electronic tax balance sheet (E-Bilanz)
- Income-surplus statement (EÜR)
- Notes to the financial statements
- Management report
- Presentation of various key performance indicators
- Plausibility assessments for credit institutions and ratings
Frequently Asked Questions
Am I required to prepare annual financial statements, or is an income-surplus statement sufficient?
The income-surplus statement (EÜR) is a simplified method of determining profit. Unlike annual financial statements, the EÜR assigns all income and expenses to the fiscal year in which the actual cash flow occurred.
Who is eligible to prepare an EÜR?
An EÜR can be prepared by all taxpayers not legally obligated to maintain books and regularly prepare financial statements:
Business owners / sole proprietors with annual revenue not exceeding €800,000 and annual profit not exceeding €80,000.
- Agricultural and forestry businesses with annual revenue not exceeding €800,000 and annual profit not exceeding €80,000, or whose self-managed agricultural and forestry land has an economic value below €25,000.
- All freelancers (e.g., doctors, pharmacists, architects, lawyers, tax consultants, journalists, photographers, artists) who are not legally required to maintain accounting records.
What are the deadlines for preparing and publishing annual financial statements?
In general, large and medium-sized corporations and equivalent partnerships must prepare their annual financial statements within the first three months of the fiscal year for the preceding fiscal year (§ 264 Abs. 1 HGB).
Small and micro corporations, as well as equivalent partnerships, may prepare their annual financial statements later if consistent with proper business conduct, but no later than six months after the end of the fiscal year.
Companies required to disclose their financial statements must submit them electronically to the operator of the Federal Gazette (Bundesanzeiger) promptly after presentation to shareholders, but no later than twelve months after the balance sheet date.
Am I obligated to publish my annual financial statements?
Annual financial statements must be submitted electronically to the Federal Gazette. The specific documents required for disclosure vary depending on the company’s legal form and size. The obligation to disclose annual financial statements arises from § 325 HGB and § 9 PublG.
Micro corporations (§ 267a HGB) can take advantage of the following simplifications:
Disclosure of only an abbreviated balance sheet
- No disclosure of the profit and loss account
- No preparation or disclosure of notes
- Filing the balance sheet with the operator of the Federal Gazette is sufficient.
What are deferred taxes?
Deferred taxes are recognized in the annual financial statements if there are differences between the commercial and tax results (commercial and tax balance sheets). These differences arise, for example, from the recognition of different depreciation and amortization or the creation of provisions under commercial law that are not permitted for tax purposes.
Deferred tax assets arise if the result under commercial law is lower. Deferred tax liabilities arise if the taxable result is lower.
The purpose of recognizing deferred tax assets or liabilities in the financial statements under commercial law is to ensure that the reported tax expense/income corresponds to the result reported under commercial law.
