Compilation & year-end close

Simply know where your business stands

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You know your business. You know what is going on. But do the numbers tell the same story?

For many businesses, the year-end close (jaarafsluiting) is the moment when the financial picture becomes clear. It shows you how your business is performing in areas such as profitability, equity, financial risks and opportunities for growth. Information you need as an entrepreneur.

But annual financial statements (jaarrekening) can be quite technical. They are of little use if, after reading them, you still do not really know where your business stands. At OneLane, we speak plain language. And if we spot something that stands out, we tell you. That way, the numbers can support, or disprove, what you already sense about your business.

What do your annual figures really tell you?

Revenue and profit. These are the numbers most entrepreneurs look at first. But they do not tell the whole story. How much of that profit actually turns into cash in the bank? Is that enough to invest? Can you continue to grow? And is your business developing in the way you want it to?

These are questions many entrepreneurs face. Yet all too often, the annual financial statements simply end up in a drawer. That is a missed opportunity, because they are much more than a formality. They can help you understand your business better.

During the compilation engagement (samenstellingsopdracht), OneLane’s accountants also look ahead with you. We identify anything that stands out in your business, so you can make well-considered decisions.

Of course, we understand your numbers. You can expect that from us. OneLane’s added value lies in translating those numbers into what they mean for your decisions, your ambitions and the direction you want to take your business.

What does a proper year-end close give me in practical terms?

You receive a compilation report and annual financial statements. Together, these give you a clear picture of the past year, show the main financial developments in your business and highlight specific matters to consider in the period ahead.

We are happy to help you with this question.

Our experts are always close by and are glad to help you move forward. Request a consultation here!

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Let's strengthen your organisation together

Curious what a good year-end close could mean for your company? We are happy to think it through with you, in plain everyday language.

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How do we work?

Step 1

Getting acquainted

We discuss the scope of the assignment and determine what you may need in addition to the compilation report. This could include support with your tax return or assessing whether your business is subject to a statutory audit requirement.

We then start our client and engagement acceptance process. We establish who the ultimate beneficial owners are, assess any integrity risks or conflicts of interest and determine whether we can accept the assignment. Once accepted, we will send you an agreement.

Step 2

Understanding your business and administration

Now we can get started. First, we need to understand your business and how it operates. If you are a new client, this means we may need to ask a few more questions, such as: what is your business model? Who owns the business? How is your financial administration organised?

We then need access to your financial records, including the general ledger, bank and loan statements, payroll administration and other relevant documents. It helps if these documents are provided on time.

Your administration may still require some work. For example, we may need to reconcile the trial balance with the underlying records or make adjustments to certain entries. We resolve these matters together with you.

Step 3

Completion

Based on this information, we prepare the draft annual financial statements. We check whether the figures make sense in light of what we know about your business. We then discuss the draft with you and your management team. If necessary, adjustments can still be made.

The management of your organisation then takes responsibility for the final financial information.

Once the process is complete, you receive the final annual financial statements, the compilation report and any other relevant documents. You remain responsible for formally approving the financial statements and, where required, filing them with the relevant authorities.

Frequently asked questions

Answers to the most frequently asked questions about the year-end close.

Can you connect the annual figures to dashboards or interim reports?

Yes. Combining your annual figures with up-to-date financial records and dashboards gives you a much clearer picture of how your business is performing.

I am planning to sell my business soon. Does that make the year-end close even more relevant?

Yes. A solid year-end close plays a key role when selling a business. Potential buyers will look at trends in your financial results, equity position and overall financial performance. A well-prepared year-end close helps you identify areas for improvement early and understand how the value of your business is developing.

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