Publicity is to be understood as the information about the accounting of a company or group with which the public learns about essential operational data. The annual and consolidated financial statements and the management report are the subject of the disclosure requirement.
Publicity Act (Pub1G)
The Publicity Act (Pub1G) is particularly important for sole proprietorships and partnerships if they are to be classified as large companies according to Section 1 PublG. The obligation to submit public accounts presupposes the presence of two of the three following characteristics on three consecutive reporting dates (draft of the Euro Balance Sheet Act):
Total assets - It is greater than € 65 million.
turnover - It is greater than € 130 million in the 12 months before the reporting date.
number of employees - It is over 5,000 on average over the 12 months prior to the reporting date.
Section 267 of the German Commercial Code (HGB) also applies to corporations. At least two of the three following criteria must be met for the disclosure requirement:
Large corporations with total assets of more than € 13.75 million, sales of more than € 27.5 million or more than 250 employees. You must submit the full annual financial statements and management report.
Medium-sized corporations with total assets of more than € 3.438 million, sales of more than € 6.875 million or more than 50 employees must publish the balance sheet and the notes in abbreviated form, as well as the income statement and the management report.
Small corporations are not subject to full disclosure requirements. You must submit your balance sheet and the appendix in abbreviated form.