Directive on annual financial statements of micro-entities
A Directive amending the 4th Directive on annual financial statements of certain forms of companies has been published in the Official Bulletin of the European Union. The Directive allows member countries to introduce legislation that inter alia allows member countries to determine more benevolent rules for the financial statements of “micro-entities”. These entities would be permitted either to compile abbreviated versions of the balance sheet and profit and loss account or, under certain circumstances, to refrain from publishing financial statements all together. A micro-entity is a company that does not exceed certain limits set forth by the Directive (total assets of EUR 350,000/CZK 8.75 mil., net turnover of EUR 700,000/CZK17.5 mil. and average number of full-time equivalent employees: 10).
The Directive took force on the twentieth day following the announcement in the Official Bulletin of the European Union, i.e. on 10 April 2012. The question of implementing this Directive into the Czech legal system has not yet been resolved.
Other articles
KŠB Partner Tomáš Sequens Speaks at the “Law and the Environment” Conference
Organized by Česká justice and Ekonomický deník at Truhlárna Karlín in Prague, the “Law and the Environment” conference brought together representatives from the government, the business sector, the professional community, and the legal profession to discuss the current challenges related to environmental protection, decarbonization, and the regulatory framework for doing business.
KŠB Provide Insight into the Legal Support for Smetana Litomyšl Music Festival
Our colleagues Sylvie Sobolová and Jana Guričová were interviewed by Jan Januš’s legalweb about the legal support for Smetana Litomyšl, one of the most important music festivals in the Czech Republic.
KŠB Sponsors 19th Annual Student Research and Professional Activities Competition at Charles University’s Faculty of Law
Kocián Šolc Balaštík was once again a partner of the Student Scientific and Professional Activities (SVOČ) competition at Charles University’s Faculty of Law. The awards ceremony for the 19th annual competition took place on June 11, 2026, with students, academics, and competition partners in attendance.
