Financial statements from Bulgaria

Schmidt & Schmidt offers financial statements from Bulgaria in electronic form and their translations into English.

According to law, most companies in Bulgaria must submit annual financial statements. These data are reported in electronic form or in paper. Depending on the company’s size and nature of business the law requires different amounts of data to be published.

Reporting of financial statements in Bulgaria is subject to the Accounting Act, Trading Act and other regulations.

Small and medium-sized enterprises in Bulgaria use national accounting standards, whereas other companies use the IFRS.

Small and medium-sized enterprises are defined by following criteria:

• Balance assets up to 8 million BGN
• Net proceeds up to 15 million BGN
• Average number of employees up to 250 persons

For large companies, an independent audit is mandatory.

Financial statements in Bulgaria are filed to the trade register.

Filing of financial statements is mandatory for:

• Joint-stock companies
• Limited liability companies
• Limited partnerships
• Registered partnerships
• Joint-stock partnerships

Annual report includes:

• Annual review
• Financial statement
• Consolidated report approved by the shareholders’ meeting

Financial statement includes:

• Balance sheet
• Profit and loss report
• Cash flow statement
• Equity statement
• Appropriation account

Financial statements provide detailed information about a company’s financial state, solvency and performance of an enterprise.

Depending on the size of the enterprise, its financial statement can contain up to several hundred pages.

Financial statements are provided by the trade register and can be obtained upon personal request or using a special online service.

Financial statements can provide valuable information about potential business partner which can be used for making decisions like purchasing capital shares or goods or taking legal action to collect debts.

To obtain financial statements of a specific company, its full name or registration number are required.

Financial statements from the trade register are public, but are provided for a fee.

Financial statements are provided in accordance with the Bulgarian legislation and legal requirements on personal data protection.

On our website, you can make a preliminary request if a certain company’s financial statements are obtainable.