Financial statements from Spain

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

According to law, commercial companies in Spain must submit annual financial statements. These data are reported in electronic form or in paper. Depending on the company’s assets, revenue, number of employees, nature of business and legal form, the law requires different amounts of data to be published.

Reporting of financial statements in Spain is subject to the Commercial Code and other regulations.

Spanish accounting standards correspond with the IFRS with few exceptions.

Financial statements are filed to the commercial register which is kept by justice authorities.

Following companies are obliged to file financial statements which must be reviewed by an auditor:

• Joint-stock companies
• Limited liability companies
• “New” limited liability companies
• Joint-stock partnerships

Financial statements must be filed within seven months after the end of the financial year. Six months are given for a shareholders’ meeting to approve the financial statement and 30 days for its filing. Account books must be closed within four months after the end of the financial year.

For a delayed filing of financial statements, a fine of up to 60,000 EUR has to be paid.

Simplified financial statements can be filed by companies which meet at least two of the following criteria:

• Assets’ value up to 2.85 million EUR
• Revenue up to 5.7 million EUR
• Average number of employees: up to 50 persons

Full annual report includes:

• General corporate information
• Investment report
• Ecological declaration
• Directors’ report
• Appropriation account
• Resolution of the shareholder’s meeting
• Financial statement
• Auditor’s report

Financial statement includes:

• Balance sheet
• Profit and loss report
• Notes
• Equity statement
• Cash flow statement

Example of a financial statement from Spain in the Spanish language.

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 commercial register of Spain. Most data concerning financial statements are public, but are provided for a fee. They can be obtained either directly from the register in paper, or in electronic form with 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 enterprise, its full name, or its trade name and registered office address are required.

Financial statements are provided in accordance with the Spanish 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.