In the Netherlands, legal entities are required to file their annual reports electronically with the Dutch Chamber of Commerce for financial years starting on or after 1 January 2025. In principle, they can choose between the XBRL and iXBRL formats.

Below, we explain why the iXBRL format is usually the best choice for filing annual reports:

1. It is future-proof

The iXBRL format is the international best practice for financial reporting and is increasingly becoming the standard for digital accountability. XBRL International (XII), the governing body of the XBRL standard, publishes guidance that describes international best practices for using XBRL. In its guidance on whether to use XBRL or iXBRL, XII states: “iXBRL is the recommended solution for open reporting requirements, where the preparer has control over both the information that is reported, and how it is presented.”

2. The perfect combination of readability and automation

An iXBRL annual report eliminates the need to render XBRL data into a human-readable format. The key feature of iXBRL is the integration of tagged data within a readable report. This means that filing an iXBRL report supports both human consumption and automated processing. It also creates a direct link between structured data and its presentation.

3. The iXBRL format supports entity-specific disclosures and presentation styles

For many organizations, the annual report is an important communication tool about their financial position. The way items and notes are presented matters. The iXBRL format supports flexible presentation options, whereas the XBRL format uses a fixed layout with inherent limitations.

4. The iXBRL format makes your annual report interactive and user-friendly

The iXBRL format allows for the inclusion of an interactive viewer. This enables users to explore the tagged data in a clear and structured way.

5. The iXBRL format enables phased implementation and cost efficiency

The iXBRL format allows for a phased approach to tagging. In the first year of the mandate, only the figures in the balance sheet, income statement, cash flow statement, statement of comprehensive income, and changes in equity need to be tagged. In the near future, the notes must also be tagged using block tagging. This tagging is less granular than in the XBRL format, which can result in lower costs.