Disclosure vs. deposit: what is the difference?
There is one obligation, disclosure under § 325 HGB. Micro companies may meet it by a second route: depositing the balance sheet. The routes differ in visibility and scope, not in format or fee.
The core difference
Published documents are freely searchable in the Unternehmensregister and open to everyone.
A deposited balance sheet is kept permanently and is not searchable. Anyone who registers with the Unternehmensregister can still request a copy, for €1.00 per document, without showing a legitimate interest.
Legally, deposit is also a form of disclosure. Technically the filing is the same: the same XML file, the same fee, the same identification.
Who may deposit?
Legal form decides whether there is an obligation at all: companies such as GmbH, UG and AG and the GmbH & Co. KG must disclose. Size decides the scope and whether deposit is available.
Only micro companies may deposit, and only if they choose to (§ 326 (2) HGB). This requires a notice that two of the three § 267a HGB thresholds are not exceeded. Once published, a filing cannot be turned into a deposit.
Small companies must publish, with balance sheet and notes. Medium-sized and large companies publish the full scope. Capital-market companies have shorter deadlines and always count as large.
Visibility and access in practice
Publication means: freely searchable, open to everyone without registration.
Deposit means: not searchable, but any registered user can obtain a copy on request for €1.00. Business partners, banks or competitors can therefore still get a deposited balance sheet.
Source: § 326 (2) and § 9 (6) HGB
| Aspect | Publication | Deposit |
|---|---|---|
| For whom | All companies obliged to disclose | Micro companies only, by choice |
| Visibility | Freely searchable and retrievable | Not searchable; copy on request for any registered user (€1.00) |
| Scope | Depending on size: balance sheet, notes, P&L, management report, audit opinion | Balance sheet only |
| Fee | By size class, e.g. €18.50 for micro | Same as publication (€18.50) |
Which documents are affected?
Micro companies file only the balance sheet. No notes are needed if certain disclosures are shown below the balance sheet (§ 264 (1) sentence 5 HGB). Small companies file balance sheet and notes, without P&L. Medium-sized companies file balance sheet, P&L, notes, management report and audit opinion, with the § 327 HGB reliefs.
Every filing also states the adoption date and the § 264 (1a) HGB details: company name, registered office, register court and register number.
Submission and costs
For fiscal years beginning after 31 Dec 2021, everything goes to the Unternehmensregister via the Publikations-Plattform. Older fiscal years belong to the Bundesanzeiger.
The fee depends only on the size class and is the same for publication and deposit. Filing PDF or Office files adds a conversion charge.
Without liability. Not legal advice. Verify binding requirements with the competent bodies or a qualified legal and tax advisor.