You hear about annual reports all the time—but do you actually need one for your e-commerce business? If you’d rather focus on growth than paperwork, we get it. Still, it’s smart to know when a financial statement is required, and when it’s just a really good idea.
Let’s break it down—no fluff, just facts.
What is an annual financial statement?
It’s a yearly summary of your business’s finances. Think: balance sheet, profit & loss statement, and sometimes additional notes. It gives you insight into how your business is performing—and it’s often essential for things like financing or transferring your business.
Are you required to prepare one?
Short answer: not always.
Certain legal entities are required by law to submit annual financial statements to the Dutch Chamber of Commerce. This includes BVs, NVs, cooperatives, and mutual guarantee companies. If you operate as a BV, this requirement applies no matter the size of your business.
Are you a sole proprietor or general partnership (VOF)? Then you’re not legally required to submit a financial statement. But your bookkeeping still needs to be accurate—and in many cases, preparing a financial statement is simply smart. For example, when applying for a business loan or backing up your income tax return.
Why prepare one anyway?
Even when it’s not required, having a financial statement can be a great move. For instance, when you:
want to apply for a business loan
are selling or transferring your business
need a clear overview for yourself or your accountant
want to appear professional to partners or suppliers
And let’s be honest: having your numbers straight just feels good.
Need help or advice?
Want tips on handling your e-commerce administration? Book a free consultation—our experts are happy to help with your bookkeeping, VAT and EPR.
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