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Administration
Drawing up an opening balance at the start
Written by Ilias3 min read
When you start a business, you begin your administration with an opening balance. That's an overview of what your business owns and what debts there are at the starting moment. Many starters skip this step, but it's important. This article explains how to draw up an opening balance.
What is an opening balance?
An opening balance is a snapshot of your business on the start date. On one side are your assets, such as equipment, stock and money in your account. On the other side are your debts and your equity (liabilities). Both sides must be in balance.
What do you put on it?
On the opening balance you put all business assets you contribute, valued at their value at that moment. If you bring a private laptop or car into the business, it goes on the balance. Any starting debts, such as a loan, and your starting capital also belong on it.
Why is it important?
The opening balance is the starting point of your administration. It partly determines your depreciation and your equity, which carries through into your profit calculation and your tax. A correct opening balance prevents errors in the following years and gives you a clear starting point.
How do you approach it?
Make a list of everything you contribute to the business and determine the value per item. If in doubt about the valuation of contributed items, it's wise to get help. A bookkeeper draws up the opening balance correctly, so your records are right from day one.
This article provides general information based on the rules known for 2026 and does not replace personal tax advice. For your specific situation, we're happy to take a look with you.
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