Preparing annual accounts for a Dutch BV: what to prepare and how to file with the KVK

Once you have a BV in the Netherlands, you must prepare a jaarrekening (annual accounts; the full set of year-end financial statements) at the end of every financial year and file it with the KVK. The obligation does not depend on size, turnover or whether the company traded at all: it applies equally to a one-person DGA company and to a holding that has never sent an invoice.

This article explains what the jaarrekening consists of, who benefits from the simplified format, the yearly cycle, the link with the corporate income tax return and which documents your adviser will ask you for.

What the jaarrekening is and how size classes work

The jaarrekening has three main parts: the balans (balance sheet), the winst-en-verliesrekening (profit and loss account) and the toelichting (notes). The balance sheet shows assets, liabilities and equity at year end, the profit and loss account shows the year’s income and expenses, and the notes explain the accounting principles and significant items.

Dutch law divides companies into four size classes: micro, small, medium and large, determined by balance sheet total, net turnover and number of employees. Larger classes must prepare more content, and medium and large companies must have their accounts audited. The thresholds are set by law and change; check kvk.nl for the current figures.

The good news: most new BVs fall into the micro or small class and file only a simplified format with the KVK, an abridged balance sheet with limited notes. The profit and loss account is not made public and no audit is required.

The yearly cycle: from preparation to deponeren

The process repeats in the same order every year:

• Closing the financial year (boekjaar): for most BVs this is the calendar year, although the articles of association may set a different period; the first financial year after incorporation can be longer or shorter.
• Preparation (opmaken): the board is responsible; in practice your adviser does the work and the board signs.
• Adoption (vaststellen): the accounts are adopted by the general meeting of shareholders. Where the sole shareholder is also the sole director, the board’s signature can count as adoption unless the articles provide otherwise.
• Filing (deponeren): the adopted accounts are filed electronically with the KVK and become public in the trade register.

The law sets separate periods for preparing, adopting and filing, all counted from the end of the financial year. The preparation period can be extended by the general meeting, but the final filing date is absolute. The current periods are on kvk.nl; we track the calendar for our clients.

The relationship with the corporate income tax return

The jaarrekening and the corporate income tax (vennootschapsbelasting) return are often confused. Both rest on the same bookkeeping but are separate filings: the jaarrekening goes to the KVK and shows the company’s commercial position; the tax return goes to the Belastingdienst (the Dutch tax office) and calculates the taxable base. The two profits can differ because of depreciation rules, provisions and non-deductible expenses.

The tax return has its own deadline, and your adviser can obtain an extension. Which items affect the tax outcome differs per company, so tax planning needs a tailored assessment. Your BTW returns draw on the same records; see Dutch VAT (BTW) basics for BV owners.

What a DGA company typically needs, and the cost of filing late

In a BV whose sole shareholder is also the sole director, the micro format usually applies. A few items still deserve attention: the DGA salary must run through payroll, the current account between DGA and company (rekening-courant) must be shown correctly on the balance sheet, and any dividend decision must be documented. Receivables and payables with your company in Türkiye are explained in the notes.

Filing late, or not at all, is an economic offence and can lead to a fine. More importantly, if the company goes bankrupt, late filing creates a presumption of mismanagement by the director, which opens the door to personal liability. The deponeren date therefore matters regardless of the fine. Fines and liability rules are set by law; see kvk.nl for current information.

Which documents your adviser will ask for

Timely accounts depend on a steady flow of documents throughout the year. The typical list:

• Year-end statements of all company bank accounts
• Sales and purchase invoices and expense receipts
• Lease, loan, shareholder and partnership agreements
• Payroll records and DGA salary filings
• The previous year’s jaarrekening and corporate income tax return
• The deed of incorporation and the current KVK extract; we cover the registration in KVK registration and the UBO register

Our monthly bookkeeping packages cover this flow for the whole year: monthly processing, BTW returns, the jaarrekening at year end, the deponeren with the KVK and the corporate income tax return from the same records. Packages start from € 290 per month; see our pricing page.

Conclusion

The jaarrekening is a recurring obligation your BV cannot skip: the board prepares, the shareholders adopt and the accounts are filed with the KVK. Most new BVs benefit from the simplified format, but the deadlines and liability rules apply to everyone. If your first year end is approaching, or you are unsure about your current set-up, get in touch for a free 15-minute intro call and we will work out the right arrangement together.