[Anonymous]

Hello all, could anyone recommend a business that provides an easy to comprehend but fairly detailed financial healthcheck service for Spanish companies.

I know there are a few listed on the web but they seem to only provide accounts that date back to 2007 – obviously not too relevant in these times!!!

I assume not all companies have to publish annual accounts – is this the case? If so, which ones does it apply to?

Any advice would be greatly appreciated.

[Anonymous]

RussW. Even in the Anglo Saxon world you will not find such information. It will always be historic, in most times & in the current climate it is totally meaningless.

Where the companies file returns etc they are not accurate as they are considered as a paper filling exercise which no body takes it seriouly neither the end user nor the producer.

[Anonymous]

Russ

Speak to your bank. There is a system that they (and many ther companies) use to check the credit rating of a company and they use a mixture of historical accounts and invoices raised (or IVA paid) I don’t know the name of the system but the banks all use it and will tell you the name (its a bit like Experian in the UK). It costs about €5 per search or you can register and pay a subscription if you are using it regular.

[Inez]

Asnef records bad dect and Cirbe is the spanish equivalent of Experian! However Cirbe might only be for private individuals.

By law – and Hacienda is very sharp on this – trading companies have to post their accounts monthy and produce a yearly report – the accountants do this and register it at Hacienda. I think there is a spanish versionof companies house where the accounts can be checked and any lawyer can advise you of this.

[Anonymous]

Thankyou for your responses – there seems to be a mixed opinion on the usefulness of this exercise and where to get the relevant info, but I will take take your points and look into it – thanks again – Russ

[Anonymous]

Hi,

if you are going to invest in a development, then make sure that you get a bank guarantee/insurance and that your solicitor checks the validity of such bank guarantee/insurance!

In addition, as the insurances/bank guarantees have got expiry dates and conditions to get the refund of the moneys, I would suggest that you read them carefully and have them translated.

Another company you might use would be http://www.axesor.es/

@Russ W wrote:

Hello all, could anyone recommend a business that provides an easy to comprehend but fairly detailed financial healthcheck service for Spanish companies.

I know there are a few listed on the web but they seem to only provide accounts that date back to 2007 – obviously not too relevant in these times!!!

I assume not all companies have to publish annual accounts – is this the case? If so, which ones does it apply to?

Any advice would be greatly appreciated.

[Author]

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