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 30 June (per the annual NSI order)
2. Commercial Register (TR) — disclosure by 30 September (Art. 38(1) of the Accountancy Act)

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 compilation and signing

Send the generated reports (PDF or Excel) to a qualified accountant. They will review and compile the GFO, and the manager signs it.

Step 5: File with NSI (by 30 June)

Filing is done through the joint NSI/NRA system (Business Statistics IS) on the NSI portal or through your accountant.

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

From 1 January 2026, when the GFO is filed through the NSI system, publication in the Commercial Register happens automatically (Art. 19(8) of the Commercial Register Act). Application G2 is filed only by joint-stock companies and companies subject to mandatory independent audit. Firmify prepares G2 for those cases — see Dashboard → Annual financial reports.

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