Business
Spain — Business: Accounting
Spanish companies must prepare annual accounts (cuentas anuales) — Balance Sheet, Profit and Loss Account, and Statement of Changes in Equity — under the Plan General de Contabilidad (PGC), Spain's national GAAP framework; larger or listed groups may instead use adapted IFRS. Directors must prepare and sign the accounts within 3 months of the financial year-end (31 March for a calendar-year company); shareholders must approve them at the Annual General Meeting within 6 months of year-end; and the approved accounts must be filed with the Registro Mercantil within 1 month of approval, with an ultimate deadline of 30 July for calendar-year companies. Missing this timeline can trigger administrative penalties and closure of the company's registry page, blocking any further corporate filings (director changes, capital increases, etc.) until remedied.
Key facts
- Annual accounts follow the Plan General de Contabilidad (PGC); larger/listed groups may use adapted IFRS.
- Directors must prepare and sign accounts within 3 months of year-end (31 March for calendar-year companies).
- Shareholders must approve accounts at the AGM within 6 months of year-end.
- Accounts must be filed at the Registro Mercantil within 1 month of approval — ultimate deadline 30 July for calendar-year companies.
- Missed deadlines can close the company's registry page, blocking further corporate filings until resolved.
Steps
- 1. Prepare and sign accounts — Directors prepare and sign the Balance Sheet, P&L, and Statement of Changes in Equity within 3 months of year-end.
- 2. Approve at AGM — Shareholders approve the accounts at the Annual General Meeting within 6 months of year-end.
- 3. File at the Registro Mercantil — Submit approved accounts within 1 month of approval; ultimate deadline is 30 July for calendar-year companies.
Timelines
- Preparation deadline: 3 months from year-end
- AGM approval deadline: 6 months from year-end
- Registry filing deadline: 1 month from approval (ultimate: 30 July for calendar-year companies)
Required documents
- Balance Sheet
- Profit and Loss Account
- Statement of Changes in Equity
Common mistakes
- Missing the Registro Mercantil filing deadline, which triggers registry-page closure and blocks future corporate acts.
- Assuming IFRS applies automatically without checking whether the PGC (standard Spanish GAAP) is required instead.