Approval And Submission Of Annual Reports

• Published date: 18 August 2025
• Law Firm: Tegos
• Author: Andra Rubene and Anna Vaivade

We want to remind you that the deadline for submitting the annual report to the State Revenue Service (SRS) is approaching for companies whose financial reporting year coincides with the calendar year.

Approval and Submission of Annual Reports

The companies shall start preparing the annual report timely to allow for all the necessary steps:

1) preparation of the annual report,

2) signing - additional time may be required if the annual report is signed in paper format and the company's management board members are located in different countries,

3) preparation of the supervisory board report if the company has a supervisory board,

4) preparation of an auditor's opinion if an auditor's examination is required by the articles of association or by law - ATTENTION: the criteria for mandatory audits have been changed (see below),

5) convening a shareholder meeting - at least 14 days are required for limited liability companies and at least 21 days for joint stock companies unless all voting shareholders participate in a meeting with a shorter convening period,

6) approval,

7) submission to the SRS.

Deadline

The deadline for submitting the annual report for 2024 is:

• for small companies and micro enterprises - until 31 May 2025, and
• for medium-sized, large and group parent companies - until 31 July 2025

(Article 97(1) of the Law on Annual Statements and Consolidated Annual Statements).

ATTENTION! The criteria for company classification have changed in 2024. Please check which category your company falls under the new criteria!

A micro-enterprise is an entity that does not exceed at least two of the following thresholds at the balance sheet date:

• balance sheet total - EUR 450,000;
• net turnover - EUR 900,000;
• average number of employees during the reporting year - 10.

A small company is an entity that does not exceed at least two of the following thresholds at the balance sheet date:

• balance sheet total - EUR 5,000,000;
• net turnover - EUR 10,000,000;
• average number of employees during the reporting year - 50.

A medium-sized company is an entity that does not exceed at least two of the following thresholds at the balance sheet date:

• balance sheet total - EUR 25,000,000;
• net turnover - EUR 50,000,000;
• average number of employees during the reporting year - 250.

A large company is an entity that exceeds at least two of the following thresholds at the balance sheet date:

• balance sheet total - EUR 25,000,000;
• net turnover - EUR 50,000,000;
• average number of...