Filing of the annual financial statements

FILING OF THE ANNUAL FINANCIAL STATEMENTS: WHAT, WHO, HOW ?

Businesses must file their accounts (PCN) with the ECDF platform to make them accessible to Luxembourg administrations. Additionally, some companies must also file their annual accounts with the Luxembourg Business Register to make them accessible to the public.

Who must publish annual financial statements with the Luxembourg Business Register (RCS) ?

The main entities concerned are:

commercial company;
affiliates of foreign company.

What should be published?

Depending on the size of the enterprises (small, medium or large), the content of the financial documents to disclose will differ :

Filing to be made	Small company	Medium company	Large company
Balance sheet	Abbreviated annual accounts	Abbreviated annual accounts	Yes
Profit and loss account	Optional	Yes	Yes
Notes to accounts	Abbreviated annual accounts	Abbreviated annual accounts	Yes
Management report	Optional	Optional	Optional
Audit report	Optional	Yes	Yes

Remarks:

The minimum balance sheet content required for small company is not the same as for medium company.
Small company are those that do not exceed two of the following three limits for two consecutive fiscal years: (i) balance sheet total > 7.5 million euros (ii) turnover > 15 million euros (iii) workforce > 50 employees
Medium company are those that do not exceed 2 of the following three limits for 2 consecutive financial years: (i) total balance sheet > 20 million euros (ii) turnover > 40 million euros (iii) workforce > 250 employees

(NB: the thresholds have been updated following the publication of the Act of October 25^th, 2024)

What is the deadline for publishing?

Within one month of the approval of the accounts and no later than 7 months after the end of the financial year.

What are the applicable sanctions?

Directors or managers who do not publish the financial accounts of the entities under their administration within the deadline and/or in the minimum required format are liable to a criminal fine of between €500.00 and €25,000.00.

Before you file and publish your annual accounts, don't forget to consult the steps to be taken to ensure the approval of the annual financial statements of SAs and SARLs in Luxembourg.