Liquidation balance

The liquidation balance sheet is a special balance sheet that is used to liquidate the company. It is also called the wind-up balance sheet. Since the company has to fulfill obligations that it has already entered into and can also enter into new obligations, provided that this serves the purpose of processing (Section 268 AktG and Section 149 HGB), it is possible that the processing will extend over several years. In this case, a distinction can be made between:

Liquidation opening balance

The opening liquidation balance, which reveals the status of assets and debts at the beginning of the liquidation. It requires the creation of an opening inventory by actually physically recording the assets, taking into account the principles of proper inventory. There are no legal regulations for their structure for sole proprietorships and partnerships. Corporations generally have to comply with the classification requirements of Section 266 (2) HGB.

The interim liquidation balance sheets, if the settlement extends over several years. An annual liquidation balance sheet must then be drawn up at the end of each year (Section 270 Paragraph of the AktG). For sole proprietorships and partnerships, this obligation is not expressly mentioned in the HGB. However, it can be derived from the general provision of Section 242 (1) HGB, according to which a balance sheet must be drawn up for the end of each financial year.

Closing liquidation balance

The liquidationClosing balance, the necessity of which arises from § 154 HGB. According to Section 273 AktG, a final invoice must be submitted when all assets have been sold and the creditors have been satisfied. As a comparison of the liquid funds still available and the claims of the shareholders, it is not a balance sheet in the true sense, because it does not show the assets, but only shows the payments and their use.

Short version: The liquidation balance sheet is a special balance sheet that is only drawn up in the event of liquidation. The aim is to satisfy the creditors' claims and to tax any hidden reserves that may still exist.

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