GmbH accounts
GmbH financial statements: what they contain and how they scale by size
A GmbH prepares a full set of German statutory statements under the HGB. This page explains what actually goes into a GmbH Jahresabschluss and how much of it you must show, publish and have audited as your company moves between the micro, small, medium and large size classes.
The four building blocks of a GmbH Jahresabschluss
Every GmbH is a corporation, so § 264 HGB requires it to draw up a balance sheet (Bilanz), an income statement (Gewinn- und Verlustrechnung, GuV) and notes (Anhang). Medium-sized and large GmbHs must add a management report (Lagebericht) under § 289. The whole set is prepared in German and in euros (§ 244 HGB); an English version is only a convenience translation and never the filed original.
The Bilanz follows the fixed structure of § 266 HGB — fixed assets, current assets, prepaid items and deferred tax on the asset side; equity, provisions, liabilities and deferrals on the equity-and-liabilities side. The GuV is presented under § 275 either by nature of expense (Gesamtkostenverfahren) or by cost of sales (Umsatzkostenverfahren). The Anhang explains the accounting policies and adds the disclosures the two primary statements cannot carry on their face.
How much you must show — by size class
The same four components, but the required depth and what becomes public shrink as the company gets smaller.
Micro (Kleinst, § 267a)
Up to €450k balance sheet total, €900k revenue and 10 employees. May omit the Anhang if a handful of figures are shown under the balance sheet (§ 264 Abs. 1 Satz 5), and may deposit a shortened balance sheet instead of publishing it (§ 326 Abs. 2).
Small (kleine, § 267 Abs. 1)
Up to €7.5m balance sheet total, €15m revenue and 50 employees. Files an abridged balance sheet plus reduced notes, no GuV and no Lagebericht. No statutory audit is required.
Medium (mittelgroße, § 267 Abs. 2)
Up to €25m balance sheet total, €50m revenue and 250 employees. Full statements including a Lagebericht, a statutory audit under § 316, and broader Anhang disclosures, with some presentation reliefs.
Large (große, § 267 Abs. 3)
Exceeds two medium thresholds, or is capital-market-oriented and therefore always large. Full disclosure of the complete Bilanz, GuV, Anhang and Lagebericht, all publicly retrievable.
Inside the Bilanz and the GuV
The asset side moves from intangible and tangible fixed assets and financial assets, through inventories, receivables, securities and cash, to prepaid expenses and any deferred tax asset. A fixed-asset movement schedule (Anlagenspiegel, § 284 Abs. 3) reconciles opening cost, additions, disposals and cumulative depreciation for each class of fixed asset; small and micro GmbHs are exempt from showing it.
The equity section of a GmbH shows subscribed capital (Gezeichnetes Kapital — usually the €25,000 minimum), capital and revenue reserves, retained or accumulated results and the net result for the year (§ 266 Abs. 3 A / § 272 HGB). Measurement throughout follows the prudence principle (Vorsichtsprinzip, § 252): assets are capped at historical cost, current assets are written down to the lower of cost or market, and provisions (Rückstellungen, § 249) are recognised for uncertain obligations.
The Anhang and the Lagebericht
The Anhang (§§ 284–288) is where most of the narrative lives: valuation and depreciation methods, a maturity analysis of liabilities, guarantees and other financial commitments, the average number of employees, and — for larger companies — auditor fees and the total remuneration of the management. Small GmbHs benefit from wide exemptions under § 288, and micro GmbHs can drop the Anhang entirely.
The Lagebericht is a separate document, not part of the Anhang, and is only required for medium and large GmbHs (§ 289). It reports on the course of business, the company's position, and the principal risks and opportunities. Because small and micro GmbHs are exempt (§ 264 Abs. 1 Satz 4), most owner-managed GmbHs never prepare one.
Obligations, adoption and filing
Preparation is due within three months of the balance sheet date for medium and large GmbHs, and six months for small and micro (§ 264 Abs. 1). The shareholders then formally adopt the statements (Feststellung) — within eleven months for a small GmbH and eight months otherwise (§ 42a GmbHG) — and only then is the profit distributable. The required documents are filed electronically with the Unternehmensregister within twelve months (§ 325).
For the managing director's personal responsibilities, the adoption resolution, the audit decision tree and the late-filing penalties run by the Federal Office of Justice, see our dedicated GmbH obligations and deadlines guide linked below.
Frequently asked questions
What financial statements does a GmbH have to prepare?
At minimum a balance sheet (Bilanz), an income statement (GuV) and notes (Anhang) under § 264 HGB. Medium-sized and large GmbHs must also produce a management report (Lagebericht) under § 289. Everything is prepared in German and in euros.
Does a small GmbH need a management report or an audit?
No. Small and micro GmbHs are exempt from the Lagebericht (§ 264 Abs. 1 Satz 4) and from the statutory audit (§ 316). Only medium-sized and large GmbHs must have their statements audited by a Wirtschaftsprüfer.
How do GmbH statements differ from UG statements?
They are essentially identical, because a UG (haftungsbeschränkt) is legally a GmbH. The one difference is that a UG must allocate 25 percent of its annual profit to a statutory reserve under § 5a Abs. 3 GmbHG until its capital reaches €25,000.
Can a GmbH file its accounts in English?
No. The statutory statements must be in German and in euros (§ 244 HGB), and only the German version is filed and legally binding. You can work from English inputs and review an English convenience translation, which is exactly what our English early access supports.
How does the size class change what a GmbH publishes?
The larger the class, the more becomes public. A large GmbH publishes the full Bilanz, GuV, Anhang and Lagebericht; a small GmbH publishes an abridged balance sheet and reduced notes with no GuV; a micro GmbH may simply deposit a shortened balance sheet (§ 326 Abs. 2).