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The yearly financial statements are a legal requirement for a non-profit association, as for any other enterprise.

Legal requirements

• Within six months after the closing of the financial year, the financial statements need to be approved by the General assembly
• They need to be registered at the Kamer van Koophandel
• They are used as attachment to the Yearly tax declaration
• They are a prerequisite to calculate the yearly successierechten

Components

The financial statements consist of:

• Balance sheet
• Income and expenses sheet

They are an aggregation of financial transactions and the general ledger.

Sources

• Bank statements
• Ledger transactions
• Budgets

External links

• Neerleggingsplicht jaarrekening

See also

• VZW administratie
• Financial reports of WMBE published as requirement for the Wikimedia Foundation
• General assembly
• List of financial statements

References

• VSDC review, nr. 201, juni-juli-augustus 2022, p. 4