companydata.dkAnnual report (årsrapport)
An annual report (årsrapport) is a company's complete official financial reporting for a fiscal year — typically income statement, balance sheet, notes, and management review — filed with the Danish Business Authority and made public.
The annual report is the document a Danish company files each year under the Danish Financial Statements Act. At minimum it contains the financial statements (income statement, balance sheet, and notes), supplemented — depending on company size — by a management review, cash flow statement, and auditor's report. Companies must file the annual report with the Danish Business Authority no later than six months after the end of the fiscal year, after which it is publicly available.
What can you learn from an annual report?
The annual report shows the company's earnings, assets, debt, and equity — and is the basis for key figures such as the solvency ratio and profit margin. Content requirements depend on the company's reporting class: small companies may omit revenue and show gross profit instead, while larger companies must disclose considerably more.
Related terms
Reporting class (regnskabsklasse)
The reporting class (A, B, C, or D) is the Danish Financial Statements Act's grouping of companies by size and type. The class determines the content requirements for the annual report — the higher the class, the more disclosure.
Gross profit (bruttofortjeneste)
Gross profit (bruttofortjeneste) is revenue minus the direct costs of delivering goods or services (e.g. cost of goods sold). For most small Danish companies, gross profit is the top line of the published financial statements, because revenue may be omitted.
Net result (årets resultat)
The net result (årets resultat) is the bottom line of the financial statements: the company's total profit or loss for the fiscal year after all costs, financial items, and tax have been deducted.
Audit requirement (revisionspligt)
The audit requirement (revisionspligt) is the duty to have the annual financial statements audited by an approved auditor. Small companies can under certain conditions opt out of audit if they stay below the statutory size limits.