Threshold amounts
The threshold amounts are determined by three criteria: turnover, total assets, and average number of employees. The amounts for the turnover and total assets criteria have been increased by approximately 25%.
The current and revised thresholds (adjusted for 25% inflation and rounded up) are as followed:
| Balance | Net revenue | ||
| Micro | Previous | 350 000 | 700 000 |
| Adjusted | 450 000 | 900 000 | |
| Increase | 28,6% | 28,6% | |
| Small (bottom) | Previous | 4 000 000 | 8 000 000 |
| Adjusted | 5 000 000 | 10 000 000 | |
| Increase | 25,0% | 25,0% | |
| Small (top) | Previous | 6 000 000 | 12 000 000 |
| Adjusted | 7 500 000 | 15 000 000 | |
| Increase | 25,0% | 25,0% | |
| Medium/Large | Previous | 20 000 000 | 40 000 000 |
| Adjusted | 25 000 000 | 50 000 000 | |
| Increase | 25,0% | 25,0% |
Source: European Commission (DG FISMA)
Are you subject to a statutory audit?
The threshold amounts determine, among other things, whether your business is subject to a statutory audit. With the introduction of the new criteria, companies will be subject to the audit requirement of the financial statements if they meet at least two of the blow mentioned criteria on two consecutive balance sheet dates:
- Total balance sheet exceeds € 7.500.000;
- Turnover exceeds € 15.000.000;
- The company employs at least 50 employees.
The use of the new threshold amounts can be as early as the financial year 2023
All EU member states must apply the new threshold values starting from the financial year 2024. However, the Dutch government offers the options for companies to apply these new threshold amounts early, starting from the financial year 2023. This is particularly important for medium-sized business that, based on the new criteria, do not meet two of the earlier mentioned criteria in the financial year 2023. Since, these businesses are not subject to audit requirements for that financial year.
Note: If you do not fall into the category of medium/large companies, you are not required to comply with the sustainability reporting requirements (CSRD).
More information
If you have any questions about these changes, please contact us. We will be happy to advise you. You can contact us via e-mail: info@vanoers.nl.
