Assets, equity and liabilities: a German OHG balance sheet example

Assets represent values at the reporting date. A vehicle used in operations is normally a fixed asset. Goods held for sale, trade receivables and bank balances are normally current assets. Business resources therefore need not be cash already available in a bank account.

A receivable is a right to payment, not an available bank balance. Equipment cannot necessarily fund the next supplier payment either. Read the composition as well as the total. Section 266 HGB sets out the statutory structure for corporations; its application to an OHG needs a separate assessment.

The financing side includes equity and external financing. In simplified terms, equity is the residual after subtracting liabilities from assets. External financing includes payables and provisions. Provisions concern obligations whose amount or timing may be uncertain; they are not separate pots of cash.

A partner’s loan is not automatically equity because the lender is an owner. Its agreement and legal classification matter. Equity is also not cash that can freely be withdrawn. Withdrawal rights, liquidity and legal restrictions require separate review. A balance sheet describes a date, while the income statement describes income and expenses over a period.

This fictional example concerns a German OHG with two natural persons as personally liable partners. All amounts are assessed carrying values at the same reporting date. Taxes, provisions, accruals and other possible items are omitted for clarity. This is an educational illustration, not a complete annual-accounts template.

A customer settles an existing €5,000 receivable. Cash rises from €20,000 to €25,000, while receivables fall from €15,000 to €10,000. Total assets remain €100,000. The payment does not create revenue a second time; it settles the claim.

In a separate scenario, the OHG receives an additional €10,000 bank loan. Cash and debt both rise by €10,000, taking the total to €110,000. This is not profit. Starting again from the original example, paying an existing €5,000 supplier liability reduces both cash and debt, taking the total to €95,000. These illustrations exclude interest and other side effects.

The exemption in section 241a HGB applies to qualifying sole traders, not an OHG. Low revenue alone therefore does not remove its accounting obligations. Partner capital, withdrawals, profit allocation and partner loans must reflect the partnership agreement and the actual account structure.

An OHG without a natural person as personally liable partner, directly or through the chain described in section 264a HGB, may be subject to additional corporate accounting rules. Do not treat the simplified example above as a mandatory presentation for every OHG.

Reconcile cash to bank statements, receivables and payables to open items, and fixed assets to the asset register. Resolve unexplained differences before closing. Equal totals can still conceal duplicate records or incorrect account assignments.

In accuno, balance-sheet reports, open items and fixed assets provide connected review points. Account classification, valuation and closing review remain necessary. Trace one transaction from its supporting document through to the report before relying on an aggregate total.