Consolidated Financial Statements – Who Needs Them in 2025?
In this article, we explain who is required to prepare consolidated financial statements, when they apply, and why they are essential for compliance and transparency. 📊
What Are Consolidated Financial Statements?
They combine the financial information of a parent company and its subsidiaries into one report, showing the group’s performance as if it were a single company.
When Are They Required in Bulgaria?
According to the Bulgarian Accounting Act and EU Directive 2013/34/EU, companies must prepare consolidated financial statements if they control one or more subsidiaries. Control usually means owning more than 50% of voting shares or having the power to direct another company’s policies.
Who Is Exempt?
Small and medium-sized groups may be exempt if they remain below legal thresholds for assets, turnover, and employees. Subsidiaries may also be exempt if included in a higher-level EU consolidation.
Why It Matters
Consolidated financial statements reflect transparency and accountability. They help investors, lenders, and partners assess the group’s real position. Ignoring this duty may result in fines, audit issues, or damaged reputation. ⚠️
How T&G Consulting Can Help
At T&G Consulting, we assist companies in identifying consolidation requirements, preparing full reports, and ensuring full compliance with Bulgarian and EU standards.
Consolidated financial statements are not just paperwork – they show the strength and stability of your group. Contact our experts today and stay compliant with confidence. 💼
📞 Get in touch with T&G Consulting now – secure your compliance and peace of mind for 2025 and beyond.
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