When do Annual Financial Reports include an Income Statement?
The Income Statement is, alongside the Balance Sheet, an essential component of Annual Financial Reports. It compares a company’s income and expenses and shows the resulting annual profit or loss as well as the retained profit or accumulated loss.
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Whether an Income Statement must be prepared and published depends on the size of the company. The decisive factors are the Balance Sheet total, annual turnover and the average number of employees. Small companies may be partly exempt from the publication requirement under certain conditions, while larger capital companies must always publish the Income Statement.
An overview of the documents to be filed according to the size of the company is provided by the Federal Ministry of Justice (BMJ).
Example Extract from the Business Register
