Preparing, reviewing, or advising on annual financial statements (Jahresabschluss) for a German company.
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| Field | Value |
|---|---|
| Country | Germany (Bundesrepublik Deutschland) |
| Currency | Euro. The statements are drawn up in German and in euro (§ 244 HGB) |
| Filing authority | The company register (Unternehmensregister), for financial years that begin after 31 December 2021. Statements for earlier financial years go to the operator of the Bundesanzeiger (§ 325 HGB, Art. 88 EGHGB) |
| Primary legislation | Handelsgesetzbuch (HGB), Third Book (Handelsbücher), §§ 238 to 342r |
| Supporting legislation | GmbHG; AktG; PublG (Publizitätsgesetz); EGHGB (start dates and transition rules) |
| Accounting standards | HGB (German GAAP). IFRS as adopted by the EU for the consolidated accounts of listed parent companies (§ 315e HGB) |
| Financial year | Not longer than twelve months (§ 240(2) HGB). The Federal Office of Justice notes that it is the calendar year in most cases |
| Filing deadline | One year after the balance sheet date. Four months for capital-market companies. It cannot be extended. See Section 9 |
| Late filing penalty | An administrative fine (Ordnungsgeld) plus procedure costs. See the fine tables in Section 9 |
| Digital filing | Electronic only. Orders are sent through the publication platform of the Bundesanzeiger and the company register (publikations-plattform.de) or through a software interface. See Section 9 |
How a German business draws up, has audited and publishes its annual financial statements under the Commercial Code (Handelsgesetzbuch, HGB): which rules bind which legal form, the size classes, the statements each class needs, the statutory layouts of the balance sheet and the P&L, the notes, publication in the company register, the fine for late publication, and the audit duty. It is for GmbH, UG, AG and KGaA, for partnerships such as the GmbH & Co. KG, and for the people who prepare their accounts. Figures are for tax year 2026. The figures are read from the consolidated federal law pages as they stood on 19 September 2026 and from the Federal Office of Justice (Bundesamt für Justiz). The size limits apply to financial years that begin after 31 December 2023. Publication in the company register applies to financial years that begin after 31 December 2021. One help page of the Federal Office of Justice still prints older, lower limits for micro companies; this Guide follows the statute.
| Field | Value |
|---|---|
| Country | Germany (Bundesrepublik Deutschland) |
| Currency | Euro. The statements are drawn up in German and in euro (§ 244 HGB) |
| Filing authority | The company register (Unternehmensregister), for financial years that begin after 31 December 2021. Statements for earlier financial years go to the operator of the Bundesanzeiger (§ 325 HGB, Art. 88 EGHGB) |
| Primary legislation | Handelsgesetzbuch (HGB), Third Book (Handelsbücher), §§ 238 to 342r |
| Supporting legislation | GmbHG; AktG; PublG (Publizitätsgesetz); EGHGB (start dates and transition rules) |
| Accounting standards | HGB (German GAAP). IFRS as adopted by the EU for the consolidated accounts of listed parent companies (§ 315e HGB) |
| Financial year | Not longer than twelve months (§ 240(2) HGB). The Federal Office of Justice notes that it is the calendar year in most cases |
| Filing deadline | One year after the balance sheet date. Four months for capital-market companies. It cannot be extended. See Section 9 |
| Late filing penalty | An administrative fine (Ordnungsgeld) plus procedure costs. See the fine tables in Section 9 |
| Digital filing | Electronic only. Orders are sent through the publication platform of the Bundesanzeiger and the company register (publikations-plattform.de) or through a software interface. See Section 9 |
The Third Book of the HGB is built in layers. Read the index at https://www.gesetze-im-internet.de/hgb/ to see them. The First Section ("Vorschriften für alle Kaufleute", §§ 238 to 263) binds every merchant. The Second Section (§§ 264 to 335c) adds rules for companies and for certain partnerships. It does not bind sole merchants or ordinary partnerships.
| Entity type | Applicable rules |
|---|---|
| Every merchant (Kaufmann): sole merchants, and OHG and KG with a natural person as personally liable partner | §§ 238 to 263 HGB only. The annual financial statements are the balance sheet and the P&L (§ 242(3) HGB). The HGB asks for no notes, no management report, no audit and no publication from them, special sectors such as banks and insurers aside |
| Kapitalgesellschaften: AG, KGaA, GmbH. The Federal Office of Justice also lists the UG (haftungsbeschränkt) here | §§ 238 to 263 HGB plus §§ 264 to 335c HGB: notes, management report, fixed layouts, size classes, audit, publication |
| OHG and KG in which no personally liable partner is a natural person, directly or through another partnership (for example the GmbH & Co. KG) | § 264a HGB applies the company rules (First to Fifth Subsection of the Second Section) to them. § 264c HGB has special rules for them. § 264b HGB releases them when they are included in consolidated accounts and the other conditions there are met |
| Parent companies (groups) | Consolidated accounts under §§ 290 to 315e HGB. A parent that Article 4 of Regulation (EC) No 1606/2002 obliges to use the international accounting standards adopted by the EU follows those standards (§ 315e(1) HGB). So must a parent for which admission of a security to trading on an organised market in Germany has been applied for by the balance sheet date (§ 315e(2) HGB). Other parents may choose these standards (§ 315e(3) HGB) |
| Individual accounts of any company | HGB accounts are always required. A large company may publish IFRS individual accounts in place of the HGB accounts (§ 325(2a) HGB). The HGB accounts must then still be drawn up, audited and sent to the register for permanent deposit (§ 325(2b) HGB) |
| Sole merchants within both limits of § 241a HGB | Released from commercial-law bookkeeping, the inventory and the annual financial statements (§ 241a, § 242(4) HGB). See the table below |
| Cooperatives, banks, insurers, pension funds | Own sections of the HGB (from § 336, § 340 and § 341). Not covered here |
| Very large sole merchants, partnerships, associations and foundations | The Publizitätsgesetz. See Section 10 |
Sources for this table: https://www.gesetze-im-internet.de/hgb/__242.html and https://www.gesetze-im-internet.de/hgb/__264.html and https://www.gesetze-im-internet.de/hgb/__264a.html and https://www.gesetze-im-internet.de/hgb/__315e.html and https://www.gesetze-im-internet.de/hgb/__325.html
Release for sole merchants (Einzelkaufleute)
| What | Value | Note |
|---|---|---|
| Source | all figures below | https://www.gesetze-im-internet.de/hgb/__241a.html |
| Revenue on each of two balance sheet dates in a row: not more than | EUR 800,000 | § 241a HGB: "nicht mehr als jeweils 800 000 Euro Umsatzerlöse" |
| Annual net profit (Jahresüberschuss) on each of the same two dates: not more than | EUR 80,000 | § 241a HGB: "jeweils 80 000 Euro Jahresüberschuss" |
The size class decides the layouts, the notes, the management report, the audit and what is published. The classes are defined in § 267 and § 267a HGB. They apply to companies and, through § 264a HGB, to the partnerships named in Section 2.
Small and medium-sized companies
| What | Value | Note |
|---|---|---|
| Source | all figures below | https://www.gesetze-im-internet.de/hgb/__267.html |
| Small company (kleine Kapitalgesellschaft): balance sheet total not more than | EUR 7,500,000 | § 267(1) HGB: "7 500 000 Euro Bilanzsumme" |
| Small company: revenue in the twelve months before the balance sheet date not more than | EUR 15,000,000 | § 267(1) HGB: "15 000 000 Euro Umsatzerlöse in den zwölf Monaten vor dem Abschlußstichtag" |
| Small company: yearly average number of staff not more than | fifty employees | § 267(1) HGB prints the number in words: "Im Jahresdurchschnitt fünfzig Arbeitnehmer" |
| Medium-sized company (mittelgroße Kapitalgesellschaft): balance sheet total not more than | EUR 25,000,000 | § 267(2) HGB: "25 000 000 Euro Bilanzsumme" |
| Medium-sized company: revenue in the twelve months before the balance sheet date not more than | EUR 50,000,000 | § 267(2) HGB: "50 000 000 Euro Umsatzerlöse in den zwölf Monaten vor dem Abschlußstichtag" |
| Medium-sized company: yearly average number of staff not more than | two hundred and fifty employees | § 267(2) HGB prints the number in words: "Im Jahresdurchschnitt zweihundertfünfzig Arbeitnehmer" |
| Large company (große Kapitalgesellschaft) | goes over at least two of the three medium-sized limits | § 267(3) HGB |
Micro companies (Kleinstkapitalgesellschaften)
| What | Value | Note |
|---|---|---|
| Source | all figures below | https://www.gesetze-im-internet.de/hgb/__267a.html |
| Balance sheet total not more than | EUR 450,000 | § 267a(1) HGB: "450 000 Euro Bilanzsumme" |
| Revenue in the twelve months before the balance sheet date not more than | EUR 900,000 | § 267a(1) HGB: "900 000 Euro Umsatzerlöse in den zwölf Monaten vor dem Abschlussstichtag" |
| Yearly average number of staff not more than | ten employees | § 267a(1) HGB prints the number in words: "im Jahresdurchschnitt zehn Arbeitnehmer" |
| Document | Kleinst | Klein | Mittelgroß | Groß |
|---|---|---|---|---|
| Bilanz (Balance sheet) | Required. May be cut down to the items marked with letters (§ 266(1) HGB) | Required. May be cut down to the items marked with letters and Roman numerals (§ 266(1) HGB) | Required, full layout. A shorter form may be sent for publication (§ 327 HGB) | Required, full layout |
| GuV (Profit and loss) | Required. A short form with eight lines is allowed (§ 275(5) HGB). Not published | Required. Lines 1 to 5 may be merged into one line "Rohergebnis" (§ 276 HGB). Not published | Required. "Rohergebnis" allowed (§ 276 HGB) | Required, full layout |
| Anhang (Notes) | Not required if the details named in § 264(1) HGB are given under the balance sheet | Required, with the reliefs of § 288(1) HGB | Required, with the reliefs of § 288(2) HGB | Required, in full |
| Lagebericht (Management report) | Not required | Not required (§ 264(1) HGB) | Required | Required |
| Kapitalflussrechnung (Cash flow statement) | Not required | Not required | Not required | Not required because of size. Required only from a capital-market company that does not have to draw up consolidated accounts (§ 264(1) HGB) |
| Eigenkapitalspiegel (Statement of changes in equity) | Not required | Not required | Not required | Same rule as the cash flow statement |
Source for this table: https://www.gesetze-im-internet.de/hgb/__264.html
Most rules in this table come from the First Section and bind every merchant. § 274 HGB and the references to § 266, § 275 and § 277 HGB bind companies and the partnerships within § 264a HGB only. Sources: https://www.gesetze-im-internet.de/hgb/__249.html and https://www.gesetze-im-internet.de/hgb/__250.html and https://www.gesetze-im-internet.de/hgb/__252.html and https://www.gesetze-im-internet.de/hgb/__253.html and https://www.gesetze-im-internet.de/hgb/__256.html and https://www.gesetze-im-internet.de/hgb/__256a.html and https://www.gesetze-im-internet.de/hgb/__274.html
| # | Adjustment | Germany-specific notes |
|---|---|---|
| 1 | Depreciation (planmäßige Abschreibungen) | § 253(3) HGB. Fixed assets with a limited useful life are written down by plan. The plan must spread the cost over the financial years in which the asset can be expected to be used. The HGB names no method and no rates, and it does not mention the tax depreciation tables (AfA-Tabellen). If, in exceptional cases, the useful life of a self-created intangible fixed asset or of purchased goodwill cannot be estimated reliably, the period is ten years |
| 2 | Accruals (Rückstellungen) | § 249 HGB. Required for uncertain liabilities and for expected losses from pending transactions. Also required for maintenance left undone in the year and made up within three months of the next year, for overburden removal made up in the next year, and for warranty work done without a legal duty. Provisions for any other purpose are forbidden. A provision is released only when its reason has gone. Amount: the settlement amount needed by reasonable commercial judgement (§ 253(1) HGB). If the remaining term is over one year, discount at the average market rate of the past seven financial years that matches the remaining term (§ 253(2) HGB). Tax law differs: it allows no provision for expected losses from pending transactions, apart from the case named in § 5(4a) sentence 2 EStG |
| 3 | Prepayments (RAP) | § 250 HGB. Rechnungsabgrenzungsposten on both sides: payments made before the balance sheet date that are expense for a fixed time after it (asset side), and payments received before it that are income for a fixed time after it (liability side). If the settlement amount of a liability is higher than the amount paid out, the difference may be put on the asset side. It is then written off by planned yearly amounts, which may be spread over the whole term (§ 250(3) HGB) |
| 4 | Provisions for pensions | § 253(1) and (2) HGB. Settlement amount, discounted at the average market rate of the past ten financial years that matches the remaining term. A flat remaining term of 15 years may be assumed instead. The Bundesbank works out the rates and publishes them monthly: https://www.bundesbank.de/de/statistiken/geld-und-kapitalmaerkte/zinssaetze-und-renditen/abzinsungszinssaetze/abzinsungszinssaetze-772396 The difference between the ten-year and the seven-year valuation must be worked out every year and shown in the notes or under the balance sheet. Profits may be paid out only if the freely available reserves left after the payout, plus a profit carried forward and minus a loss carried forward, at least equal this difference (§ 253(6) HGB) |
| 5 | Bad debts (Wertberichtigung) | § 253(4) HGB. Current assets must be written down to the lower value at the balance sheet date (lower-of-cost-or-market rule). Each asset is valued on its own and with prudence (§ 252(1) nos. 3 and 4 HGB). The HGB text does not name individual or general allowances; older material lists both |
| 6 | Inventory (Vorräte) | § 253(4) HGB: the lower value that follows from a stock exchange or market price, or else the lower attributable value. § 256 HGB allows the first-in-first-out or the last-in-first-out assumption for similar inventory items where that fits accepted accounting principles. § 240(3) and (4) HGB allow a fixed value and a weighted average for groups. A lower value may not be kept once its reasons have gone (§ 253(5) HGB) |
| 7 | Deferred tax (latente Steuern) | § 274 HGB, companies and the partnerships within § 264a HGB only. Differences between commercial and tax values that are expected to reverse. A net tax burden must be shown as a deferred tax liability. A net tax relief may be shown as a deferred tax asset. Both may be shown without netting. Tax loss carry-forwards count only as far as they are expected to be used within the next five years. Measured at the company's own tax rates at the time of reversal, not discounted. Differences from the minimum tax laws are ignored (§ 274(3) HGB). Small companies are exempt from § 274 HGB altogether (§ 274a no. 4 HGB). Older material calls this an "option" |
| 8 | Foreign currency | § 256a HGB. Assets and liabilities in foreign currency are translated at the mid spot rate on the balance sheet date. For a remaining term of one year or less, the cost ceiling (§ 253(1) HGB) and the realisation rule (§ 252(1) no. 4 HGB) are not applied. For longer terms both still apply. Translation income is shown separately under other operating income, translation expense under other operating expenses (§ 277(5) HGB) |
| 9 | Impairment (außerplanmäßige Abschreibungen) | § 253(3) sentences 5 and 6 HGB. Fixed assets: a write-down is required when the loss in value is expected to be permanent. When it is not expected to be permanent, a write-down is allowed for financial assets only. Current assets: see rows 5 and 6. The write-down is reversed when its reasons have gone, except for purchased goodwill (§ 253(5) HGB). Companies show these write-downs separately or in the notes (§ 277(3) HGB) |
| 10 | Anniversary provisions (Jubiläumsrückstellungen) | The HGB has no special rule. The general rule for uncertain liabilities applies (§ 249(1) HGB). Tax law limits them: the employment must have lasted at least ten years, the anniversary must need at least 15 years of service, the promise must be in writing, and only rights earned after 31 December 1992 count. See § 5(4) EStG at https://www.gesetze-im-internet.de/estg/__5.html |
| 11 | Tax provisions | Provisions for Gewerbesteuer and Körperschaftsteuer. Shown as "Steuerrückstellungen" (§ 266(3) B.2 HGB). The expense goes to the line "Steuern vom Einkommen und vom Ertrag" (§ 275(2) no. 14 HGB) |
| 12 | Construction contracts | § 252(1) no. 4 HGB: profits count only when they are realised at the balance sheet date. The HGB has no percentage-of-completion rule. Unfinished work is carried under inventories as "unfertige Erzeugnisse, unfertige Leistungen" (§ 266(2) B.I.2 HGB) |
§ 275 HGB binds companies and the partnerships within § 264a HGB. The P&L is drawn up in vertical form (Staffelform), either by the total cost method (Gesamtkostenverfahren, by nature of expense) or by the cost of sales method (Umsatzkostenverfahren). The lines must be shown separately and in the order given. The lines below follow § 275(2) and (3) HGB as they read now: https://www.gesetze-im-internet.de/hgb/__275.html
GEWINN- UND VERLUSTRECHNUNG, Gesamtkostenverfahren (§ 275(2) HGB)
1. Umsatzerlöse (Revenue)
2. Erhöhung oder Verminderung des Bestands an fertigen und unfertigen
Erzeugnissen (Change in finished goods and work in progress)
3. andere aktivierte Eigenleistungen (Own work capitalised)
4. sonstige betriebliche Erträge (Other operating income)
5. Materialaufwand (Cost of materials):
a) Aufwendungen für Roh-, Hilfs- und Betriebsstoffe und für bezogene Waren
b) Aufwendungen für bezogene Leistungen
6. Personalaufwand (Personnel expenses):
a) Löhne und Gehälter
b) soziale Abgaben und Aufwendungen für Altersversorgung und für
Unterstützung, davon für Altersversorgung
7. Abschreibungen (Depreciation, amortisation and write-downs):
a) auf immaterielle Vermögensgegenstände des Anlagevermögens und Sachanlagen
b) auf Vermögensgegenstände des Umlaufvermögens, soweit diese die in der
Kapitalgesellschaft üblichen Abschreibungen überschreiten
8. sonstige betriebliche Aufwendungen (Other operating expenses)
9. Erträge aus Beteiligungen, davon aus verbundenen Unternehmen
(Income from participations)
10. Erträge aus anderen Wertpapieren und Ausleihungen des
Finanzanlagevermögens, davon aus verbundenen Unternehmen
11. sonstige Zinsen und ähnliche Erträge, davon aus verbundenen Unternehmen
(Other interest and similar income)
12. Abschreibungen auf Finanzanlagen und auf Wertpapiere des Umlaufvermögens
(Write-downs on financial assets and on securities held as current assets)
13. Zinsen und ähnliche Aufwendungen, davon an verbundene Unternehmen
(Interest and similar expenses)
14. Steuern vom Einkommen und vom Ertrag (Taxes on income)
15. Ergebnis nach Steuern (Result after taxes)
16. sonstige Steuern (Other taxes)
17. Jahresüberschuss/Jahresfehlbetrag (Net profit or net loss for the year)
GEWINN- UND VERLUSTRECHNUNG, Umsatzkostenverfahren (§ 275(3) HGB)
1. Umsatzerlöse (Revenue)
2. Herstellungskosten der zur Erzielung der Umsatzerlöse erbrachten
Leistungen (Cost of sales)
3. Bruttoergebnis vom Umsatz (Gross profit)
4. Vertriebskosten (Selling costs)
5. allgemeine Verwaltungskosten (General administrative costs)
6. sonstige betriebliche Erträge (Other operating income)
7. sonstige betriebliche Aufwendungen (Other operating expenses)
8. Erträge aus Beteiligungen, davon aus verbundenen Unternehmen
9. Erträge aus anderen Wertpapieren und Ausleihungen des
Finanzanlagevermögens, davon aus verbundenen Unternehmen
10. sonstige Zinsen und ähnliche Erträge, davon aus verbundenen Unternehmen
11. Abschreibungen auf Finanzanlagen und auf Wertpapiere des Umlaufvermögens
12. Zinsen und ähnliche Aufwendungen, davon an verbundene Unternehmen
13. Steuern vom Einkommen und vom Ertrag (Taxes on income)
14. Ergebnis nach Steuern (Result after taxes)
15. sonstige Steuern (Other taxes)
16. Jahresüberschuss/Jahresfehlbetrag (Net profit or net loss for the year)
§ 266 HGB binds companies and the partnerships within § 264a HGB. The balance sheet is drawn up in account form (Kontoform): assets on one side, equity and liabilities on the other. Medium-sized and large companies show every item below, separately and in this order. See https://www.gesetze-im-internet.de/hgb/__266.html
The block lists the two sides one after the other so that it stays readable.
AKTIVSEITE (Assets), § 266(2) HGB
A. Anlagevermögen (Fixed assets)
I. Immaterielle Vermögensgegenstände (Intangible assets)
1. Selbst geschaffene gewerbliche Schutzrechte und ähnliche Rechte und Werte
2. entgeltlich erworbene Konzessionen, gewerbliche Schutzrechte und ähnliche
Rechte und Werte sowie Lizenzen an solchen Rechten und Werten
3. Geschäfts- oder Firmenwert
4. geleistete Anzahlungen
II. Sachanlagen (Tangible assets)
1. Grundstücke, grundstücksgleiche Rechte und Bauten einschließlich der
Bauten auf fremden Grundstücken
2. technische Anlagen und Maschinen
3. andere Anlagen, Betriebs- und Geschäftsausstattung
4. geleistete Anzahlungen und Anlagen im Bau
III. Finanzanlagen (Financial assets)
1. Anteile an verbundenen Unternehmen
2. Ausleihungen an verbundene Unternehmen
3. Beteiligungen
4. Ausleihungen an Unternehmen, mit denen ein Beteiligungsverhältnis besteht
5. Wertpapiere des Anlagevermögens
6. sonstige Ausleihungen
B. Umlaufvermögen (Current assets)
I. Vorräte (Inventories)
1. Roh-, Hilfs- und Betriebsstoffe
2. unfertige Erzeugnisse, unfertige Leistungen
3. fertige Erzeugnisse und Waren
4. geleistete Anzahlungen
II. Forderungen und sonstige Vermögensgegenstände (Receivables and other assets)
1. Forderungen aus Lieferungen und Leistungen
2. Forderungen gegen verbundene Unternehmen
3. Forderungen gegen Unternehmen, mit denen ein Beteiligungsverhältnis besteht
4. sonstige Vermögensgegenstände
III. Wertpapiere (Securities)
1. Anteile an verbundenen Unternehmen
2. sonstige Wertpapiere
IV. Kassenbestand, Bundesbankguthaben, Guthaben bei Kreditinstituten und Schecks
C. Rechnungsabgrenzungsposten (Prepaid expenses)
D. Aktive latente Steuern (Deferred tax assets)
E. Aktiver Unterschiedsbetrag aus der Vermögensverrechnung
PASSIVSEITE (Equity and liabilities), § 266(3) HGB
A. Eigenkapital (Equity)
I. Gezeichnetes Kapital (Subscribed capital)
II. Kapitalrücklage (Capital reserve)
III. Gewinnrücklagen (Revenue reserves)
1. gesetzliche Rücklage
2. Rücklage für Anteile an einem herrschenden oder mehrheitlich
beteiligten Unternehmen
3. satzungsmäßige Rücklagen
4. andere Gewinnrücklagen
IV. Gewinnvortrag/Verlustvortrag (Profit or loss carried forward)
V. Jahresüberschuß/Jahresfehlbetrag (Net profit or net loss for the year)
B. Rückstellungen (Provisions)
1. Rückstellungen für Pensionen und ähnliche Verpflichtungen
2. Steuerrückstellungen
3. sonstige Rückstellungen
C. Verbindlichkeiten (Liabilities)
1. Anleihen, davon konvertibel
2. Verbindlichkeiten gegenüber Kreditinstituten
3. erhaltene Anzahlungen auf Bestellungen
4. Verbindlichkeiten aus Lieferungen und Leistungen
5. Verbindlichkeiten aus der Annahme gezogener Wechsel und der
Ausstellung eigener Wechsel
6. Verbindlichkeiten gegenüber verbundenen Unternehmen
7. Verbindlichkeiten gegenüber Unternehmen, mit denen ein
Beteiligungsverhältnis besteht
8. sonstige Verbindlichkeiten, davon aus Steuern, davon im Rahmen der
sozialen Sicherheit
D. Rechnungsabgrenzungsposten (Deferred income)
E. Passive latente Steuern (Deferred tax liabilities)
The notes are part of the annual financial statements of a company (§ 264(1) HGB). The numbers in the table are the numbers of § 285 HGB. The reliefs by size are in § 288 HGB. See https://www.gesetze-im-internet.de/hgb/__284.html and https://www.gesetze-im-internet.de/hgb/__285.html and https://www.gesetze-im-internet.de/hgb/__288.html
| # | Disclosure | Klein | Mittelgroß | Groß |
|---|---|---|---|---|
| 1 | Accounting policies (§ 284(2) no. 1 HGB) | Required | Required | Required |
| 2 | Fixed asset movements (Anlagenspiegel, § 284(3) HGB) | Not required (§ 288(1) HGB) | Required | Required |
| 3 | Maturity analysis of liabilities | Total of liabilities with a remaining term of more than five years (no. 1 letter a). No split by item | Total, and the split by liability item (no. 2). The split may be left out of the published notes (§ 327 HGB) | Total and split by item |
| 4 | Secured liabilities | Total secured amount, with kind and form of the security (no. 1 letter b). No split by item | Total and split by item (no. 2) | Total and split by item |
| 5 | Related party transactions (no. 21) | Not required | Only transactions made directly or indirectly with a shareholder, with enterprises in which the company itself holds a participation, or with members of the management, supervisory or administrative body (§ 288(2) HGB) | Required |
| 6 | Employee numbers (no. 7) | Average number only, no split by groups | Average number, split by groups | Average number, split by groups |
| 7 | Directors' and supervisory board remuneration (no. 9 letter a and letter b) | Not required | Required | Required |
| 8 | Contingent liabilities (Haftungsverhältnisse, § 251 and § 268(7) HGB) | Required | Required | Required |
| 9 | Off-balance sheet arrangements (no. 3) | Not required | Required | Required |
| 10 | Auditor fees (no. 17) | Not required | May be left out. The company must then send the details to the Wirtschaftsprüferkammer on its written request (§ 288(2) HGB) | Required, unless they are given in consolidated accounts that include the company |
| 11 | Subsidiaries/investments (no. 11) | Not required (§ 288(1) HGB lists nos. 10 to 12) | Required: name and seat, share of capital, equity and result of the last financial year | Required: the same |
| 12 | Deferred tax explanation (no. 29) | Not required | Not required (§ 288(2) HGB). If deferred tax liabilities are shown on the balance sheet, the deferred tax balances at year end and their changes in the year are still required (no. 30) | Required |
| 13 | Events of special importance after the end of the financial year (no. 33) | Not required | Required | Required |
| 14 | Proposal or resolution on the use of the result (no. 34) | Not required | Required | Required |
| Item | Detail |
|---|---|
| Who must publish | The members of the representative body of a company, for the company (§ 325(1) HGB). The same holds for the partnerships within § 264a HGB. Small companies, companies with no business activity, and companies in liquidation or insolvency must publish too, until the company is deleted from the commercial register |
| Filing authority | The body that keeps the company register (Unternehmensregister). The Federal Office of Justice names the Bundesanzeiger Verlag GmbH in Cologne as that body |
| Method | Electronic only, in German. Orders go through the publication platform (publikations-plattform.de) or a software interface (web service). The decisive file format is XML. Issuers of securities use the European single electronic format (XHTML). PDF and Office files are accepted and converted for a charge. Paper is not accepted. The person who sends the documents must first be identified electronically |
| Filing deadline | At the latest one year after the balance sheet date of the financial year (§ 325(1a) HGB). At the latest four months for a capital-market company within § 264d HGB (§ 325(4) HGB). The moment of transmission counts. The deadline cannot be extended, and an extension granted by the tax office for the tax return does not help |
| What must be ready | The adopted statements and, where an audit is required, the audit opinion. Since financial years that began after 31 December 2015, statements that are not yet adopted or not yet audited can no longer be sent just to keep the deadline |
| Operator verification | The register body checks whether the documents arrived in time and in full (§ 329(1) HGB). If it doubts a size relief, it may ask for revenue and the average number of employees. If the company does not answer in time, the relief counts as wrongly used (§ 329(2) HGB) |
| Enforcement | The register body reports missing or incomplete documents to the Bundesamt für Justiz (BfJ), which must open an Ordnungsgeldverfahren under § 335 HGB |
| Content breaches | Breaches of the rules on form and content of the statements are a separate administrative offence. The fine can reach fifty thousand euros; the law prints the amount in words. Capital-market companies face higher maximums, and for them the authority is the Bundesanstalt für Finanzdienstleistungsaufsicht. In the other cases of § 334(1) HGB it is the Bundesamt für Justiz (§ 334(4) HGB). See § 334 HGB at https://www.gesetze-im-internet.de/hgb/__334.html |
Sources for this table: https://www.gesetze-im-internet.de/hgb/__325.html and https://www.gesetze-im-internet.de/hgb/__329.html and https://www.unternehmensregister.de/de/so-gehts/uebermitteln and https://www.bundesjustizamt.de/DE/Themen/OrdnungsgeldVollstreckung/Jahresabschluesse/Offenlegung/Pflichten/Pflichten_node.html and https://www.bundesjustizamt.de/DE/Themen/OrdnungsgeldVollstreckung/Jahresabschluesse/Offenlegung/Aktuelles/Aktuelles_node.html and https://www.bundesjustizamt.de/DE/Themen/OrdnungsgeldVollstreckung/Jahresabschluesse/Offenlegung/Fragen/Fragen_node.html
The fine for not publishing: as the Federal Office of Justice prints it
| What | Value | Note |
|---|---|---|
| Source | all figures below | https://www.bundesjustizamt.de/DE/Themen/OrdnungsgeldVollstreckung/Jahresabschluesse/Offenlegung/Verfahren/Verfahren_node.html |
| Minimum penalty in the normal case | EUR 2,500 | "Das Ordnungsgeld beträgt im Regelfall mindestens 2.500 Euro und höchstens 25.000 Euro" |
| Maximum penalty in the normal case, per fine | EUR 25,000 | Same sentence. § 335(1) HGB prints both amounts in words |
| Fee for the procedure, charged with the first threat notice | EUR 100 | "100 Euro Gebühr nach Nr. 1210 des Kostenverzeichnisses des Justizverwaltungskostengesetzes" |
| Delivery costs, charged on top | EUR 3.50 | "zuzüglich 3,50 Euro Auslagen für die Zustellung" |
Reduced fine when the duty is met late: the statute
| What | Value | Note |
|---|---|---|
| Source | all figures below | https://www.gesetze-im-internet.de/hgb/__335.html |
| The company used the micro company right to deposit its balance sheet (§ 326(2) HGB) | EUR 500 | § 335(4) no. 1 HGB: "auf einen Betrag von 500 Euro, wenn die Beteiligten von dem Recht einer Kleinstkapitalgesellschaft" |
| The company is a small company (§ 267(1) HGB) | EUR 1,000 | § 335(4) no. 2 HGB: "auf einen Betrag von 1 000 Euro, wenn es sich um eine kleine Kapitalgesellschaft" |
| Any other company, if a higher fine had been threatened | EUR 2,500 | § 335(4) no. 3 HGB: "auf einen Betrag von 2 500 Euro, wenn ein höheres Ordnungsgeld angedroht worden ist" |
Further fee when another fine is set: the cost schedule
| What | Value | Note |
|---|---|---|
| Source | all figures below | https://www.gesetze-im-internet.de/jvkostg/anlage.html |
| Fee for setting a second and each further fine (no. 1211 of the cost schedule of the Justizverwaltungskostengesetz) | EUR 100 | "jedes weiteren Ordnungsgelds jeweils .......... 100,00 €" |
Each person separately. If the procedure runs against several persons, the fees arise for each person on their own (preliminary note 1.2.1 of the same cost schedule).
How the procedure runs. The BfJ sends a threat notice (Androhungsverfügung). It names a fine and gives six weeks from receipt to publish or to justify the failure by an objection (Einspruch). If the documents are published in full and in proper form within the six weeks, the procedure is closed and no fine is set. The procedure costs are charged with this first notice and stay due even then.
Not a one-off. If the six weeks pass without publication or a justified objection, the fine is set and a new fine is threatened at once. This repeats until the documents are published. The BfJ states that the fine is as a rule raised step by step.
Who is fined. The members of the representative body, or the company itself (§ 335(1) HGB). It is no defence that the statements are not yet drawn up or that the audit has not been ordered. For a partnership within § 264a HGB the fine rules apply through § 335b HGB. The procedure is then directed against the personally liable partners or the members of their representative bodies, and it can also be directed against the partnership itself. See https://www.gesetze-im-internet.de/hgb/__335b.html
When the reduced amounts apply. Only when the duty is met after the six-week period has passed. The BfJ counts only what happened before its decision on the fine. If the six weeks were missed only slightly, the fine falls to a lower amount still (§ 335(4) no. 4 HGB). The minimum in the first table cannot be undercut in any other case.
Same number, two rules. The minimum penalty in the first table is the normal minimum fine. The same amount appears in the second table as the reduced fine for medium-sized and large companies.
Objection. It does not suspend anything. If it fails and the six weeks have passed, publishing later no longer stops the fine.
Missed the six weeks through no fault. Reinstatement can be requested in writing within two weeks after the obstacle has gone, and the missed act must be made up within six weeks (§ 335(5) HGB). The fault of a representative counts as the fault of the person represented. If within one year after the six weeks ended neither reinstatement was requested nor the missed act made up, reinstatement can no longer be granted.
Complaint (Beschwerde). Within two weeks of delivery of the decision, lodged with the BfJ. If the BfJ does not give way, the Landgericht Bonn decides.
Capital-market companies face much higher maximum fines. See § 335(1a) HGB.
Using a tax adviser is not enough. The BfJ states that handing the documents to a Steuerberater in time does not meet the duty. The managers must check that publication really took place.
| Size | Documents to disclose |
|---|---|
| Kleinst (Micro) | Balance sheet only, with the details under it where there are no notes. The company may ask for permanent deposit (Hinterlegung) in the company register instead of publication. To use this right it must tell the register body that it stays within two of the three micro limits on the balance sheet dates that count (§ 326(2) HGB). A deposited balance sheet is not open to free inspection: third parties get a copy on request only (§ 9(6) HGB), and the BfJ adds that this needs registration and a fee |
| Klein (Small) | Balance sheet and notes. The notes need not contain the details about the P&L. No P&L and no management report (§ 326(1) HGB) |
| Mittelgroß (Medium) | Adopted statements (balance sheet, P&L, notes), management report, and the audit opinion or the note that it was refused. Where they exist: the supervisory board's report and the resolution on the use of the result. The balance sheet may be sent in the small-company form with the extra items listed in § 327 HGB. The notes may leave out nos. 2, 8 letter a and 12 of § 285 HGB |
| Groß (Large) | Everything named in § 325(1) HGB, in full: adopted statements, management report, audit opinion or refusal note, supervisory board report and, for listed companies, the declaration under § 161 AktG |
Sources for this table: https://www.gesetze-im-internet.de/hgb/__326.html and https://www.gesetze-im-internet.de/hgb/__327.html and https://www.gesetze-im-internet.de/hgb/__9.html and https://www.bundesjustizamt.de/DE/Themen/OrdnungsgeldVollstreckung/Jahresabschluesse/Verstoesse/InhaltJahresabschluss/Bestandteile/Bestandteile_node.html
| Category | Audit requirement |
|---|---|
| Kleinstkapitalgesellschaft (Micro) | Exempt. A micro company is a small company (§ 267a HGB) |
| Kleine Kapitalgesellschaft (Small) | Exempt (§ 316(1) HGB) |
| Mittelgroße Kapitalgesellschaft (Medium) | Mandatory statutory audit (Jahresabschlussprüfung) of the statements and the management report. Without the audit the statements cannot be adopted (§ 316(1) HGB) |
| Große Kapitalgesellschaft (Large) | Mandatory statutory audit |
| Partnerships within § 264a HGB | As for companies of the same size |
| Capital-market companies (kapitalmarktorientiert, § 264d HGB) | Mandatory. They always count as large and are public-interest entities (§ 316a HGB), so the EU audit regulation applies on top. The auditor oversight body (Abschlussprüferaufsichtsstelle; older material calls it APAS) inspects the auditors of public-interest entities. See § 66a(6) WPO at https://www.gesetze-im-internet.de/wipro/__66a.html |
| Consolidated accounts | Mandatory (§ 316(2) HGB) |
| PublG companies (exceed PublG thresholds) | Mandatory (§ 6(1) PublG). See below |
Source for this table: https://www.gesetze-im-internet.de/hgb/__316.html
| What | Value | Note |
|---|---|---|
| Source | all figures below | https://www.gesetze-im-internet.de/publg/__1.html |
| Balance sheet total at the balance sheet date: more than | EUR 65 million | § 1(1) no. 1 PublG: "übersteigt 65 Millionen Euro" |
| Revenue in the twelve months before the balance sheet date: more than | EUR 130 million | § 1(1) no. 2 PublG: "übersteigen 130 Millionen Euro" |
| Average number of staff in the twelve months before the balance sheet date: more than | five thousand employees | § 1(1) no. 3 PublG prints the number in words: "durchschnittlich mehr als fünftausend Arbeitnehmer" |
This Guide and its outputs are provided for informational and computational purposes only and do not constitute tax, legal, or financial advice. Open Accountants and its contributors accept no liability for any errors, omissions, or outcomes arising from the use of this Guide. All outputs must be reviewed and signed off by a qualified professional before filing or acting upon.
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