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Accounting - Invoicing
Thresholds for size of businesses and groups change
Publié le 05 mars 2024 - Directorate for Legal and Administrative Information (Prime Minister)
Since 1er In March, new thresholds for the size of a company (micro, small, medium, or large) and a group will be introduced.
As a reminder, at 1er in january 2024, the thresholds defining the size of the companies had already been amended as follows:
Company Type | Balance Sheet Total | Net sales amount | Staff during the financial year |
|---|---|---|---|
Micro-companies | €350,000 | €700,000 | 10 employees |
Small companies | €4 000 000 | €8 000 000 | 50 employees |
Medium companies | €20 000 000 | €40 000 000 | 250 employees |
Large companies | Over €20,000,000 | Over €40,000,000 | More than 250 employees |
New thresholds as of March 1, 2024
The Decree of 28 February 2024 transposes Commission Delegated Directive (EU) 2023/2775 of 17 October 2023 which modifies the size criteria for companies and groups.
These new thresholds, increased due to inflation, apply to accounts and reports for financial years beginning on or after 1er January 2024. They shall be taken into account in the context of the requirements for the preparation and certification of accounts and sustainability information.
Thresholds that define the size of a company
The company (with the exception of large company) must not exceed 2 out of the 3 thresholds set (balance sheet total, net turnover, average number of employees employed during the year).
The decree sets new thresholds applicable to 1er march 2024 for micro, small, medium and large companies companies:
Company Type | Balance Sheet Total | Net sales amount | Staff during the financial year |
|---|---|---|---|
Micro-companies | €450,000 | €900,000 | 10 employees |
Small companies | €7.5 million | €15 million | 50 employees |
Medium companies | €25 million | €50 million | 250 employees |
Large companies | More than €25 million | More than €50 million | More than 250 employees |
Thresholds that define the size of a group
The group (with the exception of the large group) must not exceed 2 of the 3 thresholds (balance sheet total, net turnover, average number of employees employed during the year).
Thresholds applicable to 1er march 2024 for small, medium and large groups are:
Group Type | Balance Sheet Total | Net sales amount | Staff during the financial year |
|---|---|---|---|
Small groups | €9 million | €18 million | 50 employees |
Medium Groups | €30 million | €60 million | 250 employees |
Large groups | More than €30 million | More than €60 million | More than 250 employees |
Thresholds for the obligation to appoint an auditor
These thresholds were also increased by the Decree of 28 February 2024. When 2 of the 3 thresholds are exceeded, the business must appoint an auditor:
Business Type | Balance Sheet Total | Net sales amount | Staff during the financial year |
|---|---|---|---|
independent businesses | €5 million (instead of €4 million) | €10 million (instead of €8 million) | 50 employees |
Businesses controlled directly or indirectly by one or more persons and entities | €2.5 million (instead of €2 million) | €5 million (instead of €4 million) | 25 employees |
Please note
The current mandates of auditors as at 1er march 2024 continue until their expiry date