In addition to the balance sheet, the profit and loss account is part of the annual financial statements. A profit and loss account is not always mandatory. Several factors play a role here, such as the form of the company, capital etc., according to which the company is obliged to publish information under § 221 UGB. According to the law, a small GmbH only has to submit an abbreviated balance sheet and a short appendix. A profit and loss account is not submitted in this case.