The Law 5164/2024, published on December 2024, transposes into Greek legislation the Commission EU Directive 2023/2775, and adjusts the size criteria for Greek Entities and groups.
With the respective changes on the Law 4308/2014 (Α΄ 251), the obligations for reporting entities are changing.
- For size classification purposes, an entity or a group must meet at least two of the above three quantitative thresholds in the financial year of reference.
- The change in the size classification can take place if the entity exceeds or ceases to exceed the above criteria for two consecutive periods.
- Legal entities in the form of limited partnerships, general partnerships, sole proprietorships or other entities implementing Greek GAAP are classified as micro-entities under the condition that their turnover does not exceed the amount of €1.5 Million.
- The average number of employees per category remains unchanged for classification purposes
Revised size criteria for classification of undertakings
Micro entities
Micro entities are entities which, on their balance sheet date, do not exceed the limits in at least two of the following three criteria:
1) Total assets (assets): four hundred and fifty thousand (450.000) euros.
2) Net turnover: nine hundred thousand (900.000) euros.
3) Average number of employees during the period: ten (10) people.
Small entities
Small entities are considered the entities which are not classified in the micro entity category and at the date of their balance sheet do not exceed the limits in at least two of the following criteria:
1) Total assets: five million (5.000.000) euros.
2) Net turnover: ten million (10.000.000) euros.
3) Average number of employees during the period: fifty (50) people
Medium sized entities
Medium sized entities are considered the entities which are not classified in the small entity category and at the date of their balance sheet do not exceed the limits in at least two of the following criteria:
1) Total assets: twenty-fivemillion (25.000.000) euros.
2) Net turnover: fifty million (50.000.000) euros.
3) Average number of employees during the period: two hundred and fifty (250) people
Large entities
Large entities are considered the entities which are not classified in the medium sized entity category and at the date of their balance sheet exceed the limits in at least two of the following criteria:
1) Total assets: twenty-five million (25.000.000) euros.
2) Net turnover: fifty million (50.000.000) euros.
3) Average number of employees during the period: two hundred and fifty (250) people.
The revised Criteria for the size classification of the Groups are presented in the following table.
| Criteria | Small Groups | Medium Sized Groups | Large Groups |
| Total Assets | ≤5 Millions | ≤25 Millions | >25 Millions |
| Net Turnover | ≤10 Millions | ≤50 Millions | >50 Millions |
| Average Nb Employees | 50 | 250 | 250 |
For the classification of groups, the applicable amount of total assets and net turnover thresholds are considered those upon set offs and eliminations provided by relevant consolidation rules. If these have not been implemented, the above thresholds are increased by 20%.
For more information do not hesitate to consult with our CFO’s team at cfo@privelpartners.gr
