← Back to glossary Category: Financiar Balance sheet (Romania) Quick answer: Financial statement showing a company's position at a point in time: assets = equity + liabilities. Key takeawaysFixed assets — intangible, tangible, financial (equipment, buildings, licenses)Current assets — inventory, receivables (customers), cash and bank accountsEquity — share capital, reserves, result of the periodLiabilities — suppliers, loans, tax and payroll liabilities What the balance sheet is The balance sheet is the financial statement showing the company's financial position at a point in time (usually 31 December), based on the fundamental equation: Assets = Equity + Liabilities. Balance sheet structure Fixed assets — intangible, tangible, financial (equipment, buildings, licenses) Current assets — inventory, receivables (customers), cash and bank accounts Equity — share capital, reserves, result of the period Liabilities — suppliers, loans, tax and payroll liabilities When it is prepared Annual balance sheet — mandatory, filed with the tax authority (legal deadline after year-end close) Interim reports — semi-annual for certain company categories Link with the trial balance The balance sheet is built from the trial balance at period end. If the trial balance is not reconciled (missing operations, wrong entries), the resulting balance sheet is wrong. Why operational integration matters A correct balance sheet depends on data completeness: all stock (WMS), all receivables (OMS/invoices), all collections (POS/bank) must be recorded. Disconnected systems produce incomplete balance sheets. Frequently askedDifference between balance sheet and trial balance?The trial balance lists all account balances (a monthly working tool). The balance sheet is the official financial statement, structured by assets/equity/liabilities, usually prepared annually from the trial balance.When is the annual balance sheet filed?Within the legal deadline after the financial year close (usually by the end of May for the previous year), with the Ministry of Finance via the tax authority platform.What does „the balance sheet must balance” mean?Total assets = total equity + liabilities. If the two sides are not equal, there is an error in the records or trial balance. Where Azuvio fitsConformitate ANAFConectori ERP Related termsTrial balance (Romania) — Monthly accounting summary that confirms debits equal credits and feeds every Romanian tax filing (D300, D394, D112, SAF-T).Profit and loss statement — Financial statement showing a company's revenues, expenses and result (profit/loss) over a period.General journal (Romania) — Mandatory Romanian accounting register listing every economic transaction chronologically — the foundation of double-entry bookkeeping.Chart of accounts (Romania) — Structured list of all accounting accounts a company uses, organised by classes and groups per Romanian OMFP regulations. Last updated: 2026-07-06