Annual Report & Financial Statements in Romania

The bilanț contabil is the Romanian annual financial statement – a statutory document comprising the balance sheet, profit and loss account, and supporting notes that every Romanian company must prepare and file with ANAF. It must be prepared by a qualified Romanian accountant (contabil autorizat or expert contabil) for the full calendar year ending 31 December, and filed within 150 days of the year-end, by 31 May of the following year. Entities that have carried out no activity since incorporation file a declaration of inactivity instead, within 60 days of the year-end.

The annual financial statements (bilanț contabil) for the calendar year ending 31 December must be submitted electronically within 150 days, by 31 May of the following year; when that day is a weekend or public holiday, the deadline moves to the next working day (2 June in 2026). Romanian companies generally have one mandatory annual financial statement filing per calendar year, subject to specific reporting requirements that may apply in particular cases.

Under Article 42 of Accounting Law 82/1991 the fine depends on the delay: RON 300–1,000 for up to 15 working days, RON 1,000–3,000 for 16–30 working days and RON 1,500–4,500 for more than 30 working days. From 2026, a company whose statements are still missing five months after the deadline is also declared fiscally inactive by ANAF. If a company has failed to file for multiple years, each year is treated separately and fines accumulate. Filing the missing statements – even late – stops the fine clock and is always the recommended course of action.

A company that has carried out no activity since incorporation files a declaration of inactivity within 60 days of the year-end instead of annual financial statements. For companies that have conducted any activity, the annual bilanț must be filed regardless of the level of activity. The cost is lower for an inactive company than for an active one (from €100/year), but the obligation exists from the moment the company is registered.

Not from the annual profit. Dividends from the annual profit can only be distributed after the annual financial statements are approved by shareholders – confirming that the distributable profit exists and the company is solvent. However, Romanian law permits interim dividend distributions during the year if the company prepares a dedicated quarterly financial statement. Romania for Business Advisory S.R.L. coordinates both annual and interim dividend distributions.

The CIT declaration (Declaration 101 – D101) is the annual corporate income tax return filed by companies on the standard 16% CIT regime. It reconciles the taxable profit for the full year with quarterly CIT prepayments already made – if the annual CIT exceeds prepayments, the balance is due with the D101 filing, by 25 March of the following year (25 March 2027 for 2026 profits; 2025 profits had an extended deadline of 25 June 2026); if prepayments exceed the annual CIT, a refund can be requested. Companies on the microenterprise regime (1%) do not file D101 – their tax is discharged through quarterly D100 filings.

For a company with complete and accurate accounting records, preparation of the annual bilanț typically takes 5–10 working days from the point when all year-end data is available and reconciled. For companies with incomplete records, gaps in bookkeeping or transactions that were not recorded during the year, additional time is required to reconstruct the records before the bilanț can be prepared. Romania for Business Advisory S.R.L. recommends completing the year-end process by April to allow time to correct any issues before the 31 May deadline.

Your accountant needs: the full year’s accounting records (maintained throughout the year as part of monthly bookkeeping); year-end bank statements for all company bank accounts; a list of outstanding debtors (customers who owe money) and creditors (suppliers to whom money is owed) at 31 December; any year-end adjustments (depreciation, provisions, accruals); and confirmation of the share capital amount. If the accountant has managed the monthly accounting throughout the year, most of this information is already on file.

Yes. Romania for Business Advisory S.R.L. coordinates retroactive bilanț preparation for companies with unfiled prior years. The process involves reconstructing the accounting records for the missing years, preparing the financial statements in the correct sequence (each year builds on the prior year’s closing position) and filing them with ANAF. This service is priced individually after an assessment of the company’s records and the number of outstanding years.

Most companies prepare their annual financial statements under the Romanian Accounting Standards in OMFP 1802/2014, which follow the EU Accounting Directive. Companies whose shares are traded on a regulated market prepare their individual statements under IFRS instead (OMFP 2844/2016). A foreign parent that reports under IFRS or another GAAP usually needs a reconciliation of the Romanian figures for its consolidation.

The key figures are. The Ministry of Finance publishes the main indicators from each filed balance sheet – turnover, net profit or loss and average number of employees – searchable by the company’s CUI, so clients, banks and competitors can see them. Registration details and an official extract come from the trade register: see how to check a company in the Romanian business register.