Financial statements & declaration
Year-end closing – Why it is important?
The year-end closing is the financial summary of the entire financial year. It forms the basis for your annual report and tax return, and affects taxation, credibility with banks and authorities, as well as your own decision-making.
At Mika Ekonomi, we ensure that your closing is high quality, accurate, understandable — and submitted on time. We review the year’s transactions, correct errors, and prepare everything you need so you can focus on moving forward.
What is a year-end closing?
The year-end closing is an overview of the company’s finances at the end of the financial year.
It includes:
• Income statement: shows income and expenses during the year
• Balance sheet: shows assets, liabilities, and equity on the closing date
We verify that everything is correctly recorded, perform depreciation, accruals, and other adjustments so that you receive a true and fair view of the company’s financial position.
What is an annual report?
The annual report is a formal document that all limited companies must submit to the Swedish Companies Registration Office each year.
It is based on the year-end closing and includes:
• Directors’ report
• Income statement and balance sheet
• Notes (additional disclosures)
• Auditor’s/approval certificate
We ensure that the annual report complies with laws and regulations (according to K2 or K3), and that it is submitted digitally within the deadline — usually 7 months after the closing date.
K2 and K3 – which framework applies?
There are two different frameworks for preparing annual reports:
• K2: simplified framework, used by smaller companies without complex structures
• K3: more comprehensive, required for larger companies or those with specific accounting needs (e.g., intangible assets, leasing)
We help you choose the right one and ensure your annual report complies with the framework suitable for your company.
Income tax return – what must be submitted?
All companies must submit an income tax return to the Swedish Tax Agency.
You report:
• The year’s result
• Accounting depreciation and tax adjustments
• Owner withdrawals and contributions
• Taxable dividends and other items affecting taxation
We prepare a complete tax return that considers all tax regulations and helps you avoid errors or unnecessarily high taxes.
K10 – what applies to owners of closely held companies?
If you own shares in a closely held company, you must submit a K10 form together with your personal tax return. This determines how much dividend can be taxed at 20%.
We help you:
• Calculate the dividend allowance
• Assess whether salary requirements are met
• Produce the correct figures from bookkeeping and annual reports
• Maximize opportunities for low-tax dividends, both now and long term
Common questions about year-end closing
When must the annual report be submitted?
No later than 7 months after the financial year ends — otherwise late filing penalties apply.
What happens if something is incorrect?
We help you correct and complete it. We review your bookkeeping during the closing process and contact you if anything is unclear.
Can I receive dividends even if the company makes a loss?
Yes, if there are retained earnings from previous years — we help you calculate correctly.