Definition of the term "large company"
The term "large company" is defined by law.
In 2023, the monetary thresholds were increased by 25 per cent due to inflation.
According to Delegated Directive (EU) 2023/2775, companies are considered large if they exceed at least two of the following criteria
- Net sales of 50 million euros (previously 40 million euros)
- Balance sheet total of 25 million euros (previously 20 million euros)
- 250 employees on average in the financial year (no adjustment)
The adapted threshold values must be transposed into national law by 24 December 2024 at the latest.
They will be applied for financial years beginning on or after 1 January 2024.
However, there is also a Member State option.
This allows member states to require companies to apply the new provisions for financial years beginning on or after 1 January 2023.
There are special regulations for the reporting obligation of non-European companies and subsidiaries.