Notes template: structure and example text for each part
The notes of a fictitious small BV, written out part by part, with the term table for liabilities and what micro, medium-sized and large do differently.
The short answer
The notes explain how the figures came about and state what does not show from the balance sheet. A small BV generally gets by with ten parts, and more if, for example, a change in accounting policy, serious doubt about continuity or a fiscal unity is involved; a micro legal entity has no notes. This page gives an example text for each part, which you adapt to your own situation.
Updated 30 October 2026
Key facts
| Order | That of the items in the balance sheet and the profit and loss account (art. 2:363(1) DCC) |
| Micro | No notes (art. 2:395a(6) DCC) |
| Small | Limited notes (art. 2:396(3) and (5) DCC) |
| Never omit | Disclosures under art. 2:378, 2:382 and 2:383 DCC, however small the amount (art. 2:363(3) DCC) |
The example: Lindhout Advies B.V.
Lindhout Advies B.V. is a fictitious consultancy with six employees, a bank loan and a rented office: a small BV. The texts are examples to adapt and are not legal advice.
The model is the table below; no Word document goes with it. Copy what applies to you and delete the rest.
Model: ten parts with example text
| Part | Example text (adapt) | Basis |
|---|---|---|
| 1. General information | Lindhout Advies B.V., private limited company (besloten vennootschap), with its registered office in Zwolle, Business Register 00000000. | art. 2:380b DCC |
| 2. Standards | The annual accounts have been prepared in accordance with Title 9 Book 2 DCC and the Dutch Accounting Standards Board (RJ) guidelines for micro and small legal entities (RJk). | art. 2:362(10) DCC |
| 3. Accounting policies | Assets and liabilities are valued at acquisition cost, unless stated otherwise below. | art. 2:384(5) DCC |
| 4. Liabilities | Of the liabilities, € 60.000 has a remaining term of more than one year, of which € 12.000 longer than five years. For the bank loan the equipment has been pledged. | art. 2:375(2) and (3) DCC |
| 5. Off-balance-sheet commitments | The lease agreement runs until 31 December 2028. The remaining rental commitment is € 86.400. | art. 2:381(1) DCC |
| 6. Employees | During the financial year the company employed an average of 6 employees (2024: 5). | art. 2:382 DCC |
| 7. Directors | A loan in current account has been granted to the director. The balance is € 9.500 after a repayment of € 3.000 in 2025; the interest rate is 4%. | art. 2:383(2) DCC |
| 8. Retained result | Of the 2025 result, € 31.400 is retained. | art. 2:396(3) DCC |
| 9. Events after the balance sheet date | Include only if something with significant financial consequences has happened, with their extent. | art. 2:380a DCC |
| 10. Signing | Zwolle, 28 April 2026. The board: [names of all directors]. | art. 2:210(2) DCC |
The written-out accounting policies per balance sheet item are in the valuation policies template.
Model: liabilities by term
Part 3 requires a calculation. Lindhout’s bank loan is repaid at € 12.000 per year; after five years one instalment therefore remains.
| Liability at 31-12-2025 | Total (€) | Up to one year | Longer than one year | Of which longer than five years |
|---|---|---|---|---|
| Bank loan | 72.000 | 12.000 | 60.000 | 12.000 |
| Trade payables | 31.000 | 31.000 | 0 | 0 |
| Taxes and contributions | 27.000 | 27.000 | 0 | 0 |
| Other liabilities and accruals and deferred income | 18.000 | 18.000 | 0 | 0 |
| Total | 148.000 | 88.000 | 60.000 | 12.000 |
A small legal entity only has to state the bottom line, without a breakdown by type of liability and without an interest rate (art. 2:396(3) DCC). Medium-sized and large legal entities state for each type of liability which part runs longer than a year, with the interest rate.
Setting up in Word and Excel
- Keep the figures in one spreadsheet and the text in one document; link amounts instead of retyping them.
- Input: for each liability the balance and the annual repayment. Longer than five years is the balance minus five annual repayments, with zero as the lower bound.
- Check 1: the total of the term table minus the liabilities on the balance sheet is zero.
- Check 2: the rental commitment is three remaining years of 28.800, together 86.400; that amount comes from the contract.
- Check 3: the balance of the current account with the director equals the ledger: 12.500 opening minus 3.000 repayment is 9.500.
The notes per size class
| Part | Micro | Small | Medium-sized | Large |
|---|---|---|---|---|
| Accounting policies (art. 2:384(5) DCC) | No; but the statement that tax-based policies were applied, if that is the case | Yes | Yes | Yes |
| Fixed asset movement schedule (art. 2:368(1) DCC) | No | No | Yes | Yes |
| Movement in equity (art. 2:378(1) DCC) | No | Only the revaluation reserve | Yes | Yes |
| Off-balance-sheet commitments (art. 2:381(1) DCC) | No | Yes | Yes | Yes |
| Directors’ remuneration (art. 2:383(1) DCC) | No | No | Yes | Yes |
| Turnover by line of business and region (art. 2:380 DCC) | No | No | Omitted (art. 2:397(4) DCC) | Yes |
Mistakes that recur in notes
- Describing a policy for an item the balance sheet does not have.
- Omitting the security for the bank loan.
- Not mentioning the lease contract because the rent is already in the costs.
- Showing the current account with the director only as a balance sheet item, without interest and repayment.
Draft notes in Jaarrekening.io
From your XAF audit file or trial balance (Excel or CSV), Jaarrekening.io creates a draft text for each part that you can edit freely; which parts appear follows from legal form and size class. An amount in the text refers to the figures and changes with them. The judgement on provisions and commitments remains with the board. You start with your own account.
Sources
Frequently asked questions
Does a micro BV really have no notes?
No notes with the usual disclosures: art. 2:395a(6) DCC declares those provisions not applicable. Below the balance sheet it states that no accruals and deferrals are included, if that is the case; an NV states details on own shares there. If the micro BV values on tax-based policies, that choice does appear in the notes (paragraph 7).
Will the whole notes of a small BV be on file at the KVK?
The abridged balance sheet and the notes become public, the profit and loss account does not. In the public notes the events after the balance sheet date may be omitted (art. 2:396(8) DCC).
Do I have to explain the current account with myself as a director?
Yes, except for a micro BV. Art. 2:383(2) DCC requires the outstanding amount, the interest rate, the main other terms and the repayments during the financial year. A small legal entity is exempt only from paragraph 1, the disclosure of remuneration.
What if something significant happens after the balance sheet date?
A small, medium-sized or large legal entity then states the event and the extent of the financial consequences, insofar as they are not already reflected in the figures (art. 2:380a DCC). If the event says something about the situation at the balance sheet date itself, you adjust the figures.
Read more
Preparing Dutch annual accounts?
Your first set of annual accounts is free, for every size class. Create an account and prepare the annual accounts of your Dutch company under Title 9 of Book 2 of the Dutch Civil Code.
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