Large and medium-sized companies - whereby medium-sized companies in accordance with § 327 of the German Commercial Code can still enjoy certain facilities regarding the content of individual documents - must file the following Documents:
- annual accounts with auditor’s report
- management report
- report by the supervisory board (if the company has one)
- proposal and decision regarding the appropriation of the result
- Declaration of compliance with the Corporate Governance Codex in accordance with § 161 of the Companies Act (listed public limited liability companies or partnerships limited by shares).
Small companies can still make use of the facilities under § 326 of the German Commercial Code. That means that they only have to file and publish a balance sheet and notes (without a profit and loss account).
Categorization of German company size
Small companies limited by shares are those which exceed no more than one of the three criteria specified below:
- Balance sheet total: 4,015,000 euro
- Turnover: 8,030,000 euro
- Annual average of 50 employees.
Medium-sized companies limited by shares are those which exceed at least two of the three criteria specified under small companies but exceed no more than one of the three criteria specified below:
- Balance sheet total: 16,060,000 euro
- Turnover: 32,120,000 euro
- Annual average of 250 employees.
Large companies limited by shares are those which exceed at least two of the three criteria specified under medium. A company limited by shares is always regarded as large if it is active in an organised market.
In addition, there are also various special rulings. As a result, capital market-oriented companies are always regarded as large and credit institutions or institutions which provide financial services are always obliged to publish their annual accounts in accordance with the stipulations for large companies.