Financial statements from Poland

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

According to law, commercial companies in Poland 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 Poland is subject to the Commercial Code, Accounting Act and other regulations.

Polish accounting standards mostly correspond with the IFRS.

Most commercial companies file their financial statements to the national court register (KRS).

Filing of full financial statements is mandatory for:

• Limited liability companies
• Partnerships
• Limited liability partnerships
• Joint-stock companies
• Cooperative societies
• European cooperative societies registered in Poland
• Branch offices of foreign companies

Companies which are not obliged to registration in the KRS compile their financial statements using a simplified form and file them to tax authorities.

If a company’s financial year matches the calendar year, its financial statement must be filed until the 16th July of the following year. Delayed filing of financial statement is penalized.

Annual report includes:

• Annual financial statement
• Statement
• Business report
• Auditor’s report
• Shareholders’ meeting report
• Appropriation account

Full annual financial statement includes:

• Introduction
• Balance sheet
• Equity statement
• Cash flow statement
• Notes

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 of most companies are provided by the national court register. They are public, but must be requested personally at an office of the national court register. Until 2013, financial statements had been published in a special edition, but now this has been stopped. If you cannot make a personal request at the KRS, you should use the services of analytical companies collecting information from the registry.

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 enterprise, its full name and register number are required.

Financial statements are provided in accordance with the Polish 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.