Consolidated accounts in Luxembourg, Lux GAAP or IFRS, audit-ready.
Consolidation produces a group's accounts as if it were a single entity: we set the scope, harmonisation restatements, intragroup eliminations and the consolidated pack in Lux GAAP or IFRS, ready for the réviseur d'entreprises agréé. FSL drives reporting, consolidation and accounting production; the statutory audit remains reserved to a réviseur d'entreprises agréé, with whom we coordinate.
Consolidated accounts present the financial position, result and cash flows of a set of companies (parent and subsidiaries) as a single economic entity, after eliminating internal transactions. Consolidation is mandatory for groups above certain size thresholds, save for exemptions (small group, or sub-group already consolidated by an EU parent).
Consolidated accounts are governed by the amended law of 10 August 1915 on commercial companies and the law of 19 December 2002 (trade register and accounting), transposing Directive 2013/34/EU (law of 18 December 2015). A group is exempt from consolidation where, over two consecutive financial years, it does not exceed two of the three small-group criteria (indicatively at 1 January 2026, after the increase by Delegated Directive (EU) 2023/2775: balance-sheet total ≈ €5m net / €6m gross; net turnover ≈ €10m net / €12m gross; 50 employees on average, thresholds to be confirmed against the texts in force). A sub-group exemption also applies where the parent is itself consolidated by an EU entity.
Key takeaway
- Consolidation presents the group as a single entity after eliminating internal transactions.
- It is mandatory above the small-group thresholds, save for the sub-group exemption.
- FSL produces an audit-ready consolidated pack; the statutory audit belongs to the réviseur d'entreprises agréé.
Lux GAAP or IFRS for your consolidated accounts
| Criterion | Consolidated Lux GAAP | IFRS |
|---|---|---|
| Legal basis | Law 1915 / dir. 2013/34/EU | Regulation (EC) 1606/2002 |
| Typical users | Unlisted, family-owned groups | Listed or internationally-funded groups |
| Complexity | Moderate, national options | High, detailed standards |
| International comparability | Limited | Strong |
| Production cost | Lower | Higher |
Who this is for
- Industrial family groups owning several subsidiaries
- Holdings and SOPARFIs above the consolidation thresholds
- Groups growing through acquisitions or across jurisdictions
- Companies required to produce consolidated reporting for banks or investors
What we do
- Definition of the scope and method (full consolidation, equity method)
- Collection and harmonisation of reporting packs (group chart of accounts)
- Harmonisation restatements and currency translation of subsidiaries
- Intragroup eliminations and treatment of goodwill
- Production of the consolidated pack in Lux GAAP or IFRS and the notes
- Audit-ready consolidation file and coordination with the auditor
Estimated timelines
Pricing indication
Indicative ranges, excluding disbursements and taxes. Firm quote after scoping.
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Preparation checklist
Get the list of documents and steps to start without friction.
The process, step by step
Scope & method
Determination of the consolidation scope, ownership and control percentages, and the method applicable to each subsidiary.
Collection & harmonisation
Receipt of reporting packs, mapping to the group chart of accounts, harmonisation restatements and currency translation.
Eliminations & entries
Intragroup eliminations (reciprocal accounts, internal margins, dividends), treatment of investments and goodwill.
Pack & audit
Production of the consolidated statements and notes, documented consolidation file, coordination with the réviseur d'entreprises agréé.
Frequently asked questions
What is accounting consolidation?
When is consolidation mandatory in Luxembourg?
What is the difference between Lux GAAP and IFRS for consolidation?
Must my group consolidate if it is already consolidated by a foreign parent?
Do you audit the consolidated accounts?
Do you work with a consolidation tool?
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