Annual financial report with Firmify

What is the annual financial report (GFO) and why is it mandatory?

The annual financial report (GFO) summarises the financial position of a company for the previous year. It is mandatory for every EOOD and OOD, regardless of turnover.

Two separate obligations:

1. NSI (National Statistical Institute) — submission by 31 March
2. Commercial Register (TR) — disclosure by 30 June

What does the GFO include for a micro-enterprise?

Micro and small enterprises (most EOODs with small turnover) file a simplified GFO:

• Balance sheet — assets, liabilities, equity
• Income statement — revenues, expenses, profit/loss
• Notes — explanatory notes

How to prepare the GFO with Firmify?

Step 1: Close all periods for the year

By end of December / start of January: Firmify → Periods → close the December period.

Step 2: Generate the financial reports

Balance sheet: Firmify → Reports → Balance Sheet → select year → Download

Income statement: Firmify → Reports → Income Statement → select year → Download

Step 3: Review and verify

Check the key figures:

• Assets = Liabilities + Equity
• Revenue − Expenses = Profit/Loss (must match the income statement)

Step 4: Send to the accountant for signing

Send the generated reports (PDF or Excel) to a licensed accountant. They will review, supplement, and sign the GFO.

Step 5: File with NSI (by 31 March)

Filing is done through the NSI portal or through your accountant.

Step 6: Disclose in the Commercial Register (by 30 June)

File application G2 in the Commercial Register. Firmify supports G2 generation — see Dashboard → Annual financial reports.

Timeline