Sole traders who, as per the balance sheet dates of two consecutive financial years, do not have more than 800,000 euros of annual turnover and 80,000 euros as their net income for the respective year are not required to apply sections 238 through 241. In cases in which a business has been newly established, the legal consequences will ensue already if the limits set out in sentence 1 are not exceeded on the first balance sheet date following the establishment of the business.
Subdivision 2
Opening balance sheet, annual financial statements