What must companies obligatorily do by 31 December 2025?  

By 31 December 2025, every company must conduct an inventory count of assets and liabilities. This is a legal obligation and one of the most common areas where companies make mistakes—costly mistakes.

WHAT DOES INVENTORY COUNT OF ASSETS AND LIABILITIES ACTUALLY MEAN?

An inventory count of assets and liabilities is not what you think you have, but what actually exists on 31 December.

The inventory includes three key elements:

1. INVENTORY OF STOCK

Includes:

• goods
• materials
• finished and work-in-progress products

Stock must be physically counted. If the goods are not in the warehouse, they do not exist in the balance sheet.

2. INVENTORY OF FIXED ASSETS

Includes:

• vehicles
• computers
• machinery
• office and other equipment

Each asset must:

• physically exist
• be properly recorded

3. RECONCILIATION OF RECEIVABLES AND LIABILITIES

In other words:

• who owes money to you
• whom you owe money to

This is done by verifying balances with customers and suppliers.

WHY INVENTORY IS NOT DONE “JUST FOR FORMALITY”

If you think inventory is done only to “close the year,” that is wrong. Inventory is:

• the basis for the balance sheet
• the basis for tax calculation
• the first thing requested by inspectors

WHAT IF THE BOOKS DO NOT MATCH THE ACTUAL STATE?

If there is a difference between the actual and the book value, this results in:

• corrections in accounting records
• additional taxes
• monetary penalties

And “we didn’t know” is not an argument that passes with inspectors.

If you want accurate financial statements and a stress-free tax audit, the inventory as of 31 December must be done seriously, properly documented, and on time.