Balkan Services has helped more than 120 organizations meet the requirements set by ESMA and the European Commission for the 2022 reporting year.

According to the introduced European Single Electronic Format (ESEF), as of 01.01.2020 the annual financial statements of issuers whose securities are admitted to trading on a regulated market must be prepared and presented in XHTML format.

If companies in this scope prepare consolidated financial statements, these must be integrated into the HTML documents using the iXBRL (inline eXtensible Business Reporting Language) markup mechanism. 

Meeting these requirements is only possible with certified tools such as AMANA XBRL Tagger, SmartNotes, AMANA XBRL Portal, and AMANA XBRL Auditor, part of the Balkan Services portfolio.

Our company also offers a service for converting individual financial statements into XHTML format.

Over 120 companies in Bulgaria, required to prepare and file ESEF-compliant reports for 2022, have successfully converted and submitted their financial statements on time using the certified solutions we offer.

Throughout the preparation and filing process, our consultants actively educate and assist obligated organizations to successfully address new reporting challenges.

Our team advises companies to start preparing their 2023 ESEF reports as early as possible to ensure the quality and timeliness of their ESEF reports.

If you need assistance in preparing your financial statements in the required format, contact us here >