Balance sheet, profit and loss report, cash flow statement
Typically, a statement of cash flow is included in the financial statements that are generated at year-end. The primary function of a statement of cash flow is to provide this information:
- Changes in balance sheet accounts
- Change in the profit and loss statement
- How the balance sheet accounts and profit and loss statement affect cash and cash equivalents
The cash flow analysis is separated into operating, investing, and financing activities.
Netherlands specifics
Standard Business Reporting (SBR) is a new method of electronic data exchange between a company and the government. Banks and intermediaries use eXtensible Business Reporting Language (XBRL), an internationally standardized language for that is used to collect and exchange financial data. This data is linked to a taxonomy, a classification with a precise definition of all of the data elements and their relationships. Examples include turnover and selling costs. This list shows the benefits of using SBR:
- Efficient
Using the correct approach, data is collected and converted to SBR once, but used for several purposes
- Software independent
- Requires less administrative work
- Higher quality, with fewer errors
- Declarations of income tax
- Corporation tax
- VAT
- Statement of intra-community supplies (ICP)
Digipoort is the secure digital communication channel between the government and businesses. Financial intermediaries use SBR to file client financial statements electronically with KvK.
If you submit these statements through the Dutch Tax and Customs Administration, or using your DigiD, then no change is required. You can continue to operate as usual.