Commercial companies that are required to prepare consolidated financial statements or to apply the equity method shall approve the financial statements relating to the 2025 financial year by 31 May 2026 to Pursuant to Article 65(5) of the Portuguese Companies Code (Código das Sociedades Comerciais), the annual general meeting of such companies shall be held within the first five months of each calendar year to resolve, inter alia, on the management report, the financial statements for the preceding financial year and the proposal for the appropriation of profits.
It should further be noted that the approval of annual accounts constitutes a statutory obligation incumbent upon companies, the non-compliance with which may give rise to consequences at the level of the commercial registry and the liability of the members of the corporate bodies. It is therefore essential to ensure the timely fulfilment of this obligation.
For further information or assistance in this regard, namely in connection with the preparation of the relevant minutes of the board of directors’ meeting and/or the shareholders’ general meeting for the approval of accounts and any other corporate documentation, please do not hesitate to contact us.
By Amílcar Silva, Margarida Asseiceira and Carolina Ribeiro Santos, Practice Area – Direito Comercial e Societário
