Digital transformation in financial services is no longer a nice-to-have—it’s a regulatory necessity. With mounting pressure from regulators, investors, and internal stakeholders to increase transparency and accuracy, financial leaders are rethinking how data is collected, structured, and shared. In the Netherlands, this shift is accelerating with the 2025 mandate requiring all legal entities to file financial statements electronically using XBRL or iXBRL under the Standard Business Reporting (SBR) framework.
As compliance moves from spreadsheets and PDFs to structured data, XBRL (eXtensible Business Reporting Language) has emerged as the backbone of this transformation. But the implications go far beyond compliance. XBRL is changing how financial data is prepared, exchanged, and understood—creating opportunities to streamline operations and extract more value from financial reporting.
This article explores how XBRL is shaping the future of financial services in the Netherlands, what sets it apart from traditional methods, and how your organization can use it to stay compliant and competitive.
From static to structured: Why traditional reporting methods fall short
Traditional financial reporting methods—typically built around Excel spreadsheets, PDF documents, and manual data entry—are quickly becoming obsolete. These legacy approaches are not only resource-intensive but also inherently fragile. Version control issues, inconsistent data formats, and a lack of integration between tools make it difficult to ensure data accuracy and auditability. As companies grow in size or complexity, these challenges multiply—turning financial close cycles into bottlenecks rather than business enablers.
Manual reporting also creates data silos. Each department or subsidiary may maintain its own templates, calculations, and assumptions, resulting in inconsistent reporting practices across the organization. This fragmentation makes it difficult for decision-makers to get a clear, real-time view of the company’s financial health. Reconciliations become time-consuming, collaboration slows down, and the risk of human error increases at every step. When it comes time to file reports externally—whether for regulatory bodies, auditors, or investors—the effort to compile and validate this scattered data only grows.
Now add the pressures of international expansion, multiple accounting standards, and regulatory deadlines…It’s clear that manual processes can no longer support modern financial operations.
By contrast, XBRL (eXtensible Business Reporting Language) offers a future-proof solution. As a global standard for structured, machine-readable financial reporting, XBRL eliminates the ambiguity and inefficiencies of traditional methods. It transforms financial data into standardized data sets that are tagged using predefined taxonomies—ensuring consistency, transparency, and comparability across reports, entities, and jurisdictions.
With XBRL, financial statements are no longer static documents—they become dynamic, interoperable data sources. These data sets can be automatically ingested by regulatory systems, audit platforms, and internal tools, reducing the need for manual intervention and dramatically cutting reporting timelines. Whether you're sharing reports internally across departments or externally with regulators and investors, XBRL ensures that everyone is working with the same, validated information.
In a regulatory environment where speed, accuracy, and traceability are non-negotiable, traditional methods simply can't scale. The digital transformation of reporting isn’t just an efficiency play—it’s a strategic imperative. And XBRL is the foundation upon which this transformation is being built.
Why XBRL is becoming the preferred format
The shift toward XBRL isn’t just a Dutch phenomenon—it’s part of a global movement toward structured data in regulatory reporting. Financial regulators in the EU, US, and Asia-Pacific are pushing for greater transparency and digital interoperability. The European Single Electronic Format (ESEF), for example, mandates XBRL-based filings for public companies across the EU.
Here’s why XBRL is gaining traction:
- Speed: Automated processes eliminate time-consuming manual entry and formatting.
- Accuracy: Validation checks and taxonomies reduce the risk of misreporting and omissions.
- Cost-Efficiency: Reduced manual workload means fewer hours spent compiling, reconciling, and correcting data.
- Comparability: XBRL standardizes data formats, making it easier to benchmark against peers or analyze trends across geographies.
- Scalability: XBRL accommodates multiple frameworks (e.g., Dutch GAAP, IFRS), simplifying reporting for multinational entities.
Inline XBRL (iXBRL) takes it a step further by embedding machine-readable tags within a human-readable HTML document. This hybrid format supports both automation and visual presentation—making it easier to interpret and audit. iXBRL simplifies internal review, facilitates board-level understanding, and enhances communication with external stakeholders. The biggest hindrance for most companies is that InlineXBRL may require slightly more setup at the start. That said, once everything is set up, digital filing becomes so much easier (why 6,000+ companies across the globe trust Lucanet).
As more regulators and stakeholders demand structured data, the case for adopting XBRL becomes not just a compliance requirement but a strategic advantage.
The netherlands' strategic push for digital reporting
This global momentum is mirrored—and accelerated—by developments in the Netherlands.
The Dutch government’s broader digital agenda includes five pillars: promoting innovation, upgrading infrastructure, enhancing cybersecurity, supporting SMEs, and improving digital skills. One of the most tangible implementations of this agenda in the financial sector is the 2025 SBR mandate.
Under this mandate, all legal entities must electronically file their annual reports using XBRL or iXBRL. While this might appear as just another compliance hurdle, it’s a fundamental shift in how financial information is created and used. Finance teams across the Netherlands are being asked to do more with fewer resources. Digital reporting tools like XBRL not only reduce administrative workload but also provide better visibility into the financial health of the business. This enables faster decision-making and more meaningful engagement with stakeholders.
Moreover, XBRL plays a vital role in the Netherlands' alignment with EU-wide initiatives such as ESEF and the European Data Strategy, both of which emphasize the use of open, interoperable data formats for economic resilience and transparency.
XBRL in action: Enhancing reporting and data sharing
The benefits of XBRL go beyond regulatory compliance. Forward-thinking financial institutions are using XBRL to modernize their internal processes and enhance collaboration across departments and geographies.
Here’s how financial organizations are unlocking value with XBRL:
1. Streamlined consolidation across subsidiaries - Multinational corporations often juggle different accounting frameworks. With XBRL, data from subsidiaries can be standardized and consolidated more efficiently, eliminating the need for manual reconciliations. This is particularly useful when aligning Dutch GAAP and IFRS reporting.
2. Improved stakeholder communication - With iXBRL, businesses can present clear, visually accessible reports that still meet machine-readable standards. Board members, investors, and external partners benefit from a cleaner and more transparent presentation of financial results.
3. Accelerated auditing - XBRL-tagged reports allow auditors to verify data more quickly. The standard format enables automated data checks and better traceability, reducing audit cycle times and improving compliance confidence.
4. Centralized financial management - XBRL’s ability to integrate with existing systems means that companies can centralize their financial data, enhancing forecasting, budgeting, and scenario planning. This is especially critical in uncertain economic conditions where agility is key.
5. Regulatory agility - With evolving reporting frameworks, the flexibility of XBRL makes it easier to update taxonomies and remain compliant without overhauling internal systems.
The Lucanet approach: XBRL that works for finance teams
On the surface, this transformation presents a clear opportunity: automation of reporting tasks, reduced manual data entry, and improved data accuracy. The promise of streamlined processes and time savings is appealing, especially when finance departments are being asked to do more with less.
However, getting to that point requires effort. Implementing XBRL and aligning with Dutch GAAP disclosure requirements isn’t plug-and-play. It requires changes to your systems, workflows, and internal expertise. For many finance professionals already navigating limited resources and increasing complexity, the transition can feel overwhelming. That is exactly why Lucanet developed a comprehensive XBRL Dutch GAAP solution just for this, to streamline financial reporting and alleviate the pain points associated with the KVK's mandate. Our XBRL Tagger provides a seamless, efficient, and accurate way for Dutch companies to comply with the new electronic filing regulations.
Here’s how Lucanet’s XBRL Tagger can support your team:
- AI-Powered tagging: Our XBRL Copilot uses artificial intelligence to automate block tagging, saving your team hours of manual work.
- Validation and compliance checks: Built-in controls detect inconsistencies before submission—reducing rework and improving accuracy.
- System integration: Seamless compatibility with Word, PDF, Excel, and Lucanet’s broader platform ensures smooth adoption.
- Scalability: Whether you’re a mid-sized business or a multinational group, our solution scales to match your complexity.
- User-Centric design: Built for finance professionals, not developers. No technical knowledge required.
Lucanet doesn’t just help you comply—we help you gain clarity, improve productivity, and focus on the decisions that matter.
Embrace the future of financial reporting
The Dutch Chamber of Commerce's mandate is an opportunity to modernize your finance operations. By embracing digital transformation and leveraging innovative solutions like Lucanet's XBRL Tagger, companies can not only achieve compliance but also unlock significant benefits in terms of efficiency, accuracy, and strategic decision-making.
Don't let the complexities of Dutch GAAP and XBRL hold your business back. Take the fast track to compliance with Lucanet and transform your financial reporting processes for the digital age.
Ready to meet the 2025 SBR deadline with confidence?
Contact us today to learn how Lucanet can accelerate your path to Dutch GAAP compliance and transform your financial reporting for the digital age.
