Annual approval of accounts: key deadlines, steps and legal risks in 2025

All commercial companies operating in Portugal must approve and file their annual accounts. For most companies whose fiscal year ends on 31 December, the statutory deadline is 15 July 2025.

1) Main steps in the process:

1. Preparation of financial statements.

2. Review by a certified accountant and/or auditor.

3. Convening the general meeting.

4. Presentation and approval of accounts.

5. Drafting of the minutes.

6. Filing through the IES submission.

2) Consequences of non-compliance:

• Financial penalties.

• Prohibition on dividend distribution.

• Inability to complete commercial registrations.

• Reputational and legal exposure.

Strict compliance with the legal timeline is essential to avoid operational and regulatory disruptions.