New CNC Q&A 26/037: Reminders of the concepts of annual accounts prepared for statutory purposes versus those prepared on contractual or voluntary basis
8 June 2026
Accounting and Reporting News Alert
At a glance
On 4 June 2026 the Luxembourg Accounting Standards Commission (CNC) has issued Q&A CNC 26/037 clarifying the distinction between annual accounts prepared for legal purposes (statutory annual accounts) and those drawn up on a contractual or voluntary basis.
A closer look
The CNC reiterates that statutory annual accounts are those required under Luxembourg law. They are subject to approval by the general meeting and serve as the basis for profit allocation, reserve determination and capital maintenance. These accounts must be filed with the Luxembourg Trade and Companies Register (RCS), and are published through RESA.
Importantly, the Q&A makes clear that a company may not file with the RCS a set of annual accounts that has not been approved by the general meeting, even where such accounts have been prepared for administrative, contractual, or other purposes under a different accounting framework.
The CNC further explains that annual accounts prepared on a contractual or voluntary basis may be drawn up under any accounting framework. Such accounts may also be shared with a broader audience, provided there are no restrictions on their dissemination. However, appropriate care should be taken to avoid misleading users, and clear reference should be made to the statutory annual accounts filed with the RCS.
In addition, the CNC reiterates that statutory annual accounts may only be prepared under one of the three accounting regimes permitted by Luxembourg accounting law: Luxembourg GAAP based on the optional as adopted by the European Union (IFRS-EU) regime.
Finally, the Q&A clarifies that small undertakings may provide shareholders with a more detailed version of their statutory annual accounts while filing an abridged version with the RCS, provided that both sets of accounts are prepared using the same accounting framework and follow the same presentation structure.
