Announcement of the annual financial reports in the Commercial Register

Under article 40 of the Accounting Act, traders in the Commercial Law publish their annual financial reports - by filing and submitting in the Commercial Register. (This is true even for those businesses that are not operational during the reporting period. They must publish an empty statement).

We offer our assistance in the announcement of the annual financial reports (AFR) in the Commercial Register. We prepare the necessary protocol for the acceptance of AFR and profit distribution and complete the relevant applications for declaring the act. You are required to provide us a certified AFR by the governing body of the company for this year. If you are a customer of ours and we are creating your report, this provision is not necessary.

What is a subject of publication?

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According to Art. 40 of the Accounting Act the following documents must be published: Annual financial report, adopted by the General Assembly of the partners/shareholders or the respective control body. According to Art. 26, paragraph 1 of the Accounting Act, the annual financial report of a company includes:

  • Balance sheet
  • Statement of income and expenses
  • Statement of cash flows
  • Statement of changes in equity
  • Application under NAS 1 "Presentation of Financial Statements"

Who is required to publish their reports?

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Sole traders, whose accounts are not subject to mandatory independent financial audit are exempted from publication in the Commercial Register. Sole traders are required to publish reports only when they must be a subject to audit.

  • Merchants under the Commerce Act - by filing and submitting their announcement in the Commercial Register
  • Legal non-profit organizations established for the public benefit - by filing for registration and submission in the Central Registry of the Ministry of Justice under the terms and conditions of the Law for Non-Profit Organizations
  • The other companies - by economic magazines or on the Internet.

By May 31 of the following year sole traders, whose accounts are subject to independent audit, publish their annual financial reports.

By June 30 of the following year limited liability companies publish their annual financial reports and consolidated reports, the annual activity report and the consolidated activity report, adopted by the general meeting of the shareholders.

By July 31 of the following year all other companies, registered as traders under the Commerce Act, publish their annual financial reports.

Rules for the publication of annual financial reports

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The annual financial reports are published in the Commercial register by submitting an application for the declaration of acts. A copy of the annual financial report is applied to the application. It should be in the form in which it is composed by the author of the report and was adopted by the management body of the company. Together with the financial report of the company, a protocol from the general meeting of the partners (for Ltd.), of the shareholders (for limited companies), or a decision of the sole owner/shareholder (for Ltd., Plc) must be presented. This protocol should have all the particulars required by the Commercial Act and contain information for the adoption of the report and the distribution of the financial results.

An applicant may be the entity representing the company (an owner for sole traders or a manager for Ltd.). An applicant for the declaration of the AFR may be the author of the report if there is a written power of attorney of the representative of the company.

To the application for a declaration of acts D1 a declaration under Article 13, paragraph 4 of the Commercial Register Act, signed by the applicant, is applied.

If the holder of the documents is different from the applicant, they must make a declaration under Article 13, paragraph 5 of the Commercial Register Act, to have written authorization to submit an application for a declaration of acts (D1), signed by the applicant. And also, the power of attorney must be notarized.

If documents are submitted by the holder, which is different from the applicant, the application for a declaration of acts (D1) must also be signed by the applicant with a notarized signature.

If you announce reports for more than one year, an application D1 must be submitted and all the reports must be applied to it. Together with the documents, a receipt or a payment order for paid state tax is applied.


More information about the announcement of the annual reports in the Commercial Register can be obtained on the website of the Registry Agency or by contacting us - we will give you the right advice you need. Consultations are free for our clients. If you wish, we can help you in the preparation of the necessary documents and submit them for you.