Financial statements

At the end of each financial year, the preparation of the financial statements, also known as annual accounts, takes place.

Preparing financial statements in the Netherlands

At the end of each financial year, the preparation of the financial statements, also known as annual accounts, takes place. Every company is required to produce financial statements which provide information about their annual financial position and performance. Especially the tax authorities and stakeholders are interested in the annual accounts. In the Netherlands the annual accounts or financial statements can be prepared under either Dutch GAAP (Generally Accepted Accounting Principles) or IFRS (International Financial Reporting Standards), which are both commonly accepted by the EU. In the past the Dutch GAAP revised many of their principles to align them with IFRS. Van Eert Accountants & Advisers can prepare the financial statements for your company, according to GAAP or IFRS, consisting of:

  1. A balance sheet;
  2. An income statement (or profit and loss account);
  3. Equity statement;
  4. Cash flow statement;
  5. Notes concerning the financial statements/annual accounts.

Preparing consolidated annual accounts in the Netherlands

Additionally, we can prepare your consolidated annual accounts/financial statements when your company has a subsidiary in the Netherlands. In general, a company with subsidiaries is required to prepare consolidated financial statements. However, there are important exceptions regarding these requirements. Van Eert Accountants & Advisers can make sure your company meets all the criteria in order to be able to take advantage of these exceptions.

Accounting in the Netherlands

The process of accounting may be done abroad. But you have to prepare and file the annual accounts in one of the following languages: Dutch, English, German or French. Please note that the law prescribes that financial information has to be included in the annual report. The purpose of this report is to provide insight in the financial situation of an enterprise. In general, the annual report contains the following documents:

  • Director’s report including the general corporate information and the operating and financial review
  • Financial statements/annual accounts
  • Other information, including the auditor’s report.

Preparing or checking the financial statements

Van Eert Accountants & Advisers can prepare an annual report which meets all requirements. If you prepare the accounts yourself we can check whether they meet the Dutch requirements. The financial report offers you and interested parties (stakeholders and tax authorities) information about your company’s financial situation. Would you like us to prepare or check any financial statements/annual accounts, please do not hesitate to contact us.