Nineteen small lakes located in open landscapes or deciduous forests in nutrient-rich calcareous moraines in North Zealand, Denmark, were all net heterotrophic having negative net ecosystem production and predominant CO₂ supersaturation and O₂ undersaturation of lake waters. Forest lakes were poorer in nutrients, phytoplankton, and primary production, but richer in dissolved organic matter and CO₂ than open lakes with more light available. The modeled annual balance between gross primary production and community respiration (GPP/R _COM) averaged 0.60 in forest lakes and 0.76 in open lakes and the ratio increased significantly with phosphorus concentration and phytoplankton biomass but decreased with colored dissolved organic matter. The negative daily rates of ecosystem production resembled estimates of oxygen uptake from the atmosphere to the lakes, whereas estimates of CO₂ emission were 7.2-fold higher. Although CO₂-rich groundwater and anaerobic respiration support greater molar release of CO₂ than uptake of O₂, we suggest CO₂ emission is overestimated. Possible explanations include CO₂ enrichment of the air film above small wind-sheltered lakes. The observed metabolism and gas exchange show that exogenous organic matter is an important supplementary energy source to community respiration in these small lakes and that forest lakes, in addition, experience pronounced light attenuation from trees and dissolved colored organic matter constraining primary production.