Micro-entity (mikrosabiedrība)

A micro-entity (mikrosabiedrība) is a small company that, at the balance sheet date, does not exceed at least two of three criteria: balance sheet total EUR 450,000, net turnover EUR 900,000 and an average of 10 employees in the financial year.

These limits apply from the 2024 financial year, when they were raised. A company enters or leaves the category only after staying within or exceeding the limits for two consecutive years, while a new company may use the figures at its first balance sheet date.

A micro-entity may skip the management report if it gives the details of its own shares in the notes, and may prepare abridged notes. If it stays within two of the criteria EUR 63,000 balance sheet total, EUR 125,000 net turnover and 5 employees, it may skip the notes altogether and give the required details below the balance sheet.

A micro-entity is not a micro-enterprise. The first is a reporting category that an SIA can fall into; the second is a tax regime open to individual merchants, individual enterprises, farms and registered self-employed people, not to an SIA.