Timeline for financial reporting

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The timeline for financial reporting, assuming a December 31 year end, is as follows:

1	2	3	4	5	6
31 Dec	31 May	31 Jul	8 Sep	30 Nov	31 Jan

End of fiscal year;
Preparation of financial statements by management within 5 months;
Approval of financial statements by shareholders before July 31;
Publication of financial statements within 8 days;
In case the company decides to use the extension, the financial statements should be prepared before 30 November;
Deadline for publication of the financial statements. Overdue publication could be subject to a fine of EUR 16,000.

The management of a BV and NV should prepare the financial statements in a maximum period of five months that might be extended with six months with the approval of the shareholders or in the case of special circumstances. The shareholders have two months to approve the financial statements after preparation. There is no need to inform the Chamber of Commerce about the decision for extension taken by the shareholders.

From 2009 onwards, following the European Transparancy Directive, listed companies are required to prepare and publish financial statements within 4 months after year end.

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