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The most important components of the annual financial statements as a GmbH

Here you will find a checklist for the annual financial statements of the GmbH. It can help you as a guide so that you don’t forget a single step towards a complete and successful annual financial statement:


Preparation of the profit and loss account (P&L)


Preparation of the balance sheet


Compliance with the deadlines for the annual financial statements of the GmbH


Costs for the annual financial statements of the GmbH

Profit and loss account (P&L)

In order to determine in the annual financial statements how successfully your company has operated, it is necessary to prepare a profit and loss account (P&L). It comprises a comparison of all income and expenses in order to show the company’s profit or loss.

  • Income: Here you list the income of the financial year (sales revenue, interest income and other income of your company)
  • Expenses: Here you record which costs you had for the income (material and personnel costs, depreciation)
    Income statement: The profit or loss is shown as the difference between income and expenses

Accounting for the annual financial statements of the GmbH

The balance sheet consists of the assets and liabilities side of the company’s assets and capital. It reflects the financial position of the GmbH as at the balance sheet date.

The assets side shows how the company’s assets are structured. A distinction is made here between fixed and current assets (real estate, company equipment, receivables, cash and cash equivalents)
The liabilities side shows the equity and liabilities of the GmbH. A distinction is made here between equity, provisions and liabilities. The deficit or surplus increases or decreases equity.

It is not easy to manage all the important steps for the annual financial statements on your own. The Digitale Gründung team will be happy to help you prepare your annual financial statements.

Annual financial statements of the GmbH: You should know this deadline

A deadline of three months after the end of the financial year is set for the annual financial statements of the GmbH (Section 264 HGB). If the company is a small GmbH, the annual financial statements may be prepared within a period of six months. There is an exception for GmbHs that find themselves in a crisis situation. In this case, the balance sheet must be submitted eight to ten weeks after the balance sheet date.


Annual financial statements of the GmbH: costs and tax consultant

The costs for the annual financial statements of the GmbH and the tax consultant are very different. It is advisable to keep proper accounts that are easy for the tax consultant to transfer (e.g. using software). The costs for the tax consultant’s hourly rate are set out in the remuneration regulations for tax consultants and vary according to the value of the business.

Do you need help preparing your annual financial statements? Book your suitable tax consulting package now!

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Why set up a GmbH?


Founding a GmbH is attractive for entrepreneurs who do not want to jeopardise their private assets. For security purposes, a share capital of EUR 25,000 is paid into a business account when the GmbH is founded, but this may be used in the normal course of business. The GmbH makes sense for founders who have a high level of private assets and want to protect them well. If you want to attract investors, the GmbH is often the most attractive legal form.

What do I need for a GmbH?


At least one shareholder is required to form a GmbH. This person can also be the managing director. However, the team of a GmbH is often made up of several people who share the tasks and pay in the share capital together. Once the personal details have been established, at least half of the EUR 25,000 share capital must be paid into the business account when the company is founded. This must be topped up to the full amount at a later date. In addition, the GmbH requires a summonable business address. Once the share capital has been paid in, the company is entered in the commercial register and transparency register. A tax number must also be applied for from the tax office for the start of business activities.

How much capital do you need for a GmbH?


To set up a GmbH, you must raise share capital of at least EUR 25,000, at least half of which must be raised when the company is founded. The notary and registration fees of just under EUR 1,000 must be paid from this share capital. There are also costs for entry in the transparency register and for business registration, which vary depending on the municipality.