Annual Financial Statements in Bulgaria: 2026 Filing Guide

Annual financial reporting in Bulgaria is not one filing. Management must close the books, classify the enterprise, prepare the correct set of statements, obtain an audit where required, secure formal adoption, complete statistical and tax reporting, and publish the applicable documents. For the 2025 financial year, the public-filing deadline is 30 September 2026.

This guide provides general information as at 1 August 2026. It is not legal, tax, accounting, audit, statistical, or sector-regulatory advice for a particular enterprise or group.

Annual Reporting at a Glance

The annual financial statements (AFS), the statistical annual activity report (GOD), and the annual tax return serve different purposes. Filing one does not replace either of the others. The joint NSI, NRA, and Registry Agency order for the 2025 reporting campaign requires most active businesses to submit GOD before the tax return and gives a 30 June 2026 ordinary deadline. Consolidated GOD is due by 30 September. The same order confirms the separate 30 September AFS publication deadline and the absence of a Registry fee.

Who Prepares and Publishes Statements?

The current Accounting Act covers traders, Bulgarian establishments of foreign persons, nonprofit legal entities, unincorporated partnerships, and other listed enterprises. The head of the enterprise organises accounting and is responsible for preparation, audit where applicable, adoption, and publication. Outsourcing bookkeeping does not transfer that statutory oversight away from management. Our guide to OOD manager duties explains the broader control framework.

Statements are normally prepared by an individual or accounting firm satisfying Articles 17–18. For a person with higher accounting/economic education, the required relevant experience is two years for a master's degree, three for a bachelor's degree, and four for a professional bachelor's degree. Other higher economic education requires five years; secondary economic education requires eight years as an accountant. Conviction restrictions also apply. Limited self-preparation exceptions should be tested against the Act rather than assumed from the company's size.

Size Categories for 2025 and 2026

An enterprise normally tests three indicators and falls within a category when it does not exceed at least two applicable ceilings. A large enterprise exceeds at least two medium ceilings. Category changes generally take effect after the condition is met in two consecutive reporting periods; special rules apply to a new enterprise.

These are Accounting Act categories, not the unrelated SME tests used for every grant, tax relief, or regulatory regime. Public-interest enterprises also remain subject to the special reporting regime regardless of an ordinary size label.

What Must the Financial Statements Contain?

A full set under the applicable accounting framework contains a balance sheet, income statement, statement of changes in equity, cash-flow statement, and notes. The Act permits proportionate formats:

• a non-audited sole trader whose net sales do not exceed the Article 29 threshold—still stated in the consolidated Act as BGN 200,000—may prepare only an income statement;
• a micro-enterprise may use an abbreviated balance sheet and abbreviated income statement;
• a small enterprise may use an abbreviated balance sheet and income statement with notes; and
• medium, large, and public-interest enterprises prepare the full set required by their reporting framework.

The statements must present a true and fair view and be signed by the head of the enterprise and the preparer. Do not select an abbreviated package merely because the entity has few shareholders; legal form, two-year classification, audit status, and the applicable National Accounting Standards or EU-endorsed IFRS all matter.

Management Report and Consolidation

Enterprises subject to statutory audit generally prepare an annual management report. Micro and small enterprises not subject to audit may omit it if the required information about acquisitions of own shares is disclosed in the notes or beneath the balance sheet. That relief does not extend to qualifying investment companies and financial holding companies. Medium and larger enterprises, and entities affected by sustainability-reporting rules, need a separate scope review.

A Bulgarian parent normally prepares consolidated statements under its accounting framework. Small groups may use the Accounting Act exemption unless the group includes a public-interest enterprise. Intermediate-parent and immaterial-subsidiary exemptions have detailed conditions. Group status must be checked before individual accounts are finalised because it can affect both consolidation and audit.

When Is an Independent Audit Mandatory?

For a 2025 year-end, a small enterprise is audited if it exceeds at least two of BGN 4 million assets, BGN 8 million net sales, and 50 average employees. Those monetary audit tests remain written in BGN in the consolidated 2026 Act; their fixed-rate equivalents are approximately EUR 2.045 million and EUR 4.090 million. Do not replace them with the separate euro size-category ceilings. Audit also applies to medium and large enterprises, public-interest enterprises, medium and large groups, groups containing a public-interest enterprise, and any entity required by another law.

Public-benefit nonprofits are audited if they exceed one of their special thresholds, also still expressed in the Act in BGN: BGN 1 million assets, BGN 2 million business and non-business income, or BGN 1 million of financing received and qualifying unspent prior-period financing. Sector laws can impose audit or assurance even where an ordinary company would fall below these tests.

Appoint a registered auditor early enough for inventory attendance, confirmations, going-concern work, and correction of misstatements. The published AFS must be the same version on which the auditor reported, accompanied by the complete audit report.

Approval and the G2 Publication Package

The competent body must adopt the final statements: for example, the sole owner of an EOOD, the general meeting of an OOD or AD, or the designated nonprofit body. The resolution should identify the reporting period, approve the exact AFS, address profit distribution or loss coverage where appropriate, and approve related reports. Adoption does not change the 30 September public deadline, and publication does not by itself make an unlawful dividend lawful.

For filings made during 2026, the NSI has confirmed that the planned single entry point is still under construction and will operate from 1 January 2027. Until then, publish through G2 in the Registry portal or at a Registry Agency office. The Agency's current financial-statement filing guide and G2 portal instructions should be checked immediately before filing.

A typical package includes:

1. G2 and the signed, adopted AFS;
2. the applicant's declaration under Article 13(4) of the Commercial Register and NPO Register Act;
3. for micro, small, and medium enterprises, the prescribed representative's declaration confirming adoption;
4. for large and public-interest enterprises, minutes and evidence of lawful convening and adoption instead of that simplified adoption declaration;
5. the management report, consolidated documents, audit report, and profit/loss allocation information where applicable;
6. authority documents if an authorised lawyer or the qualified statement preparer files; and
7. a publication copy with non-required personal data redacted.

Electronic filing requires a qualified electronic signature. The representative, an expressly authorised lawyer, or the qualified preparer who prepared and signed the AFS may file within the statutory rules. Postal filing is not accepted. Save the incoming number, download the announced documents, and verify that the correct year and complete signed version appear on the company file.

Euro Presentation: Do Not Convert the 2025 AFS

Bulgaria adopted the euro on 1 January 2026, but the reporting currency follows the period, not the upload date. The official euro campaign confirms that 2025 annual financial statements filed in 2026 remain in lev. Financial statements for 2026 are prepared in thousands of euro. Their 2025 comparative information is translated at the irrevocable rate of EUR 1 = BGN 1.95583, and the notes should explain the change in presentation currency. The government's National Euro Plan also distinguishes 2025 statistical information in lev from 2026 information in euro.

Capital redenomination is a separate corporate-record process, but it can affect the G2 package. The Registry converted registered capital automatically; however, OOD/EOOD, AD, and KDA must adopt the required euro-denominated founding document within 12 months of euro introduction and announce the updated articles or statutes with their first subsequent Registry application, including G2 if that is the first filing. No state fee is charged for that announcement. See Article 32 of the official Euro Introduction Act and our capital redenomination guide. This corporate-record step does not authorise an informal restatement of the 2025 AFS into euro.

Special Entities and Publication Routes

• Sole traders: the simplified statement rule may apply, and an ET whose AFS is not subject to statutory audit is exempt from public AFS publication.
• Nonprofits: publish through the NPO Register. A public-benefit NPO also prepares and publishes its statutory annual activity report by 30 September under the Nonprofit Legal Entities Act.
• DZZD partnerships and other enterprises outside the public registers: publication is generally through an economic publication or online by 30 September, with free access maintained for at least three years.
• Foreign-company branches: maintain Bulgarian records and assess local reporting, while the Commerce Act separately requires publication of the foreign parent's statements unless register interconnection supplies them.
• Banks, insurers, listed issuers, pension entities, budget entities, and enterprises in liquidation or insolvency: sector or proceeding rules may impose different content, formats, audit, or earlier reporting. The general 30 September date is not permission to ignore them.

An enterprise with no Accounting Act “activity” follows a different regime. A qualifying no-activity declaration is generally due by 30 June only for the first inactive year and is not a substitute for an AFS whenever even limited activity occurred. Sole traders do not file that declaration. Use the separate no-activity declaration guide before choosing the exemption.

Corrections, Refusals, and Risk Control

Reconcile the draft AFS to the ledger, tax return, GOD, VAT data, payroll, related-party balances, and the adoption papers before publication. A late change can require coordinated accounting, statistical, tax, corporate, and Registry corrections—not just a replacement PDF.

The 2026 joint order allows one correcting 2025 GOD, and where applicable one correcting annual tax return, by 30 September 2026 under its stated conditions. A corrected public AFS normally requires a new adoption record and a fresh G2; the Registry history remains visible. If an AFS was first submitted on time but publication was refused, Article 38 treats it as timely when a corrected application is submitted within 14 days after the refusal becomes final.

Late publication exposes the responsible person to the Article 74 fine stated as BGN 200–3,000 and the enterprise to a property sanction of 0.1%–0.5% of net sales for the affected period, with a BGN 200 statutory minimum; repeated breaches double the sanction. Amounts payable after euro adoption are converted under the euro rules. Failure to commission a required audit has separate personal and enterprise sanctions. More importantly, missing or unreliable accounts can obstruct finance, distributions, due diligence, restructuring, and an early response to distress. See the company insolvency guide where going concern or overdue debt is in question.

A Practical 2026 Filing Sequence

1. Close and reconcile the 2025 books in lev; document estimates and going concern.
2. Confirm category, accounting framework, statement components, management report, group position, and audit status.
3. Complete the audit and correct identified misstatements.
4. Submit GOD successfully before the annual tax return, ordinarily by 30 June.
5. Obtain competent-body adoption of the exact final AFS and related reports.
6. Assemble G2 declarations, authority, redacted publication copies, and all required audit or governance documents.
7. File by 30 September 2026 and inspect the public Registry result.

Lion Consult can coordinate the corporate approvals, filing authority, Registry package, and legal review alongside your accountant and auditor. Contact Lion Consult before the reporting deadline if the company has changed size, ownership, activity, group structure, or solvency position.

Financial-reporting duties depend on current legislation, legal form, reporting framework, group facts, sector rules, and the particular financial year. Obtain tailored Bulgarian legal, accounting, tax, and audit advice before relying on an exemption or filing a report.

Frequently Asked Questions

What is the deadline for publishing 2025 annual financial statements in Bulgaria?

An active trader or nonprofit required to publish its 2025 statements must generally do so by 30 September 2026. Earlier tax, statistical, or sector deadlines may also apply.

Are 2025 financial statements filed in 2026 prepared in lev or euro?

They remain prepared in Bulgarian lev because they cover the 2025 reporting period. Statements for 2026 are in euro, with 2025 comparative figures translated at EUR 1 = BGN 1.95583 and the currency change disclosed.

Is there a Registry Agency fee for filing an annual financial statement?

No. The Registry Agency confirms that no state fee is due for announcing an annual financial statement.

Which documents usually accompany G2?

The package usually includes the adopted signed statements, the Article 13(4) applicant declaration, the applicable adoption declaration or corporate evidence, authority documents, and any required management, consolidation, audit, profit-allocation, and redacted-publication documents. If it is an affected capital company's first 2026 Registry application, updated euro-denominated articles or statutes must also accompany it.

When does a small Bulgarian company need a statutory audit?

For a 2025 year-end, a small enterprise is audited when it exceeds at least two of BGN 4 million assets, BGN 8 million net sales, and 50 average employees. Medium, large, public-interest, group, and specially regulated entities have additional rules.

Does filing the annual tax return or NSI annual activity report publish the accounts?

No. During 2026 the annual activity report and tax-return process and the G2 public announcement remain distinct. The National Statistical Institute says the new single-entry system will start on 1 January 2027.

Does a company with no activity file annual financial statements?

A qualifying inactive company generally uses the separate no-activity declaration regime by 30 June for its first inactive year; the declaration is not repeated while inactivity continues, and sole traders do not file it. The statutory no-activity test must be applied carefully.