Services from the Register of Financial Statements and Data on Solvency of Legal Entities and Entrepreneurs are available to all users under equal commercial conditions.
Users can order the following services from the Register :
- Original financial statements – set or sections of financial statements
- Data and indicators on solvency
- Solvency reports
- Scoring
- Report FI - DPL (Data on financial standing of other legal entity)
- Special arrangements
The original financial statements contain original accounting data submitted by legal entities or entrepreneurs, in the manner set out according to the accounting regulations which were applied in the year these statements were composed. Data from original financial statements can be ordered in sets or in sections – individual forms of financial statement intended for wide range of users for the purpose of making economic decisions.
Data and indicators on solvency are “objectivized” and standardized data and indicators on solvency in time series. Data and indicators on solvency of all market participants on micro and macro level, are reliable, harmonized and arranged in comparative time series – starting from 1994, except for institutions and entrepreneurs from 2004, financial lessors and voluntary pension funds management companies from 2006, and for investment funds management companies from 2007. In that way, data and indicators on solvency may be compared in time periods.
Solvency reports present the base for analysis of financial standing and business performance of legal entity or entrepreneur. Solvency reports contain set of data and indicators on solvency and they differ in structure, content and communication power. They are created as standardized (for general purposes) and as specialized (for specific purposes), and for all groups of legal entities – enterprises and cooperatives, banks, insurance companies, broker – dealer companies, financial lessors, voluntary pension funds management companies, investment funds management companies, institutions and for entrepreneurs. Owing to reliable and up to date information, solvency report enables more efficient business-decision making and decrease of operating risk.
Scoring is a form of solvency opinion which is determined on the basis of data from financial statements for the last five years or not less than three, by applying quantitative financial analysis and statistic monitoring methods with a support of a sophisticated expert system. Scoring is an “objectivized’’ assessment of the ability of enterprise to meet obligations. The basis is ratio analysis. The ratio numbers are assessed from the aspect of fulfillment of operational financial principles, taking into account main trends prevailing in the line of business in which those enterprises operate – average, both positional and established reference values, while their relative significance in a time series is defined by applying trend analysis. An additional, corrective factor in the analysis is the number of recorded non-liquidity days for the last twelve months. Scoring is issued for enterprises only.
Scoring is represented in five basic and three specific assessment levels for grading the ability of enterprises to meet obligations, giving a full portrayal of operations: excellent solvency (А), very good solvency (B+, B, B-), good solvency (C+, C, C-), poor solvency (D+, D, D-) and very weak solvency (Е). Scoring of some enterprises is represented by symbols: (Ps) for enterprises undergoing bankruptcy, (Pl) for enterprises in liquidation procedure, (Tn) for permanently illiquid enterprises, (Psp) for enterprises underwent a status change in the last three years, (N) for newly established enterprises, (Мp) for enterprises which failed to submit at least one financial statement in the past three reporting years or have submitted such statement without data, and (Мd) for enterprises for which no relevant data are available.
Scoring is created after the processing of financial statements was completed, and is valid for a year, that is until the completion of processing of financial statements for the following year. By way of exception, scoring may cease to be valid even before the above deadline in the case of bankruptcy or liquidation or status change of enterprise for which scoring was issued, then in case when number of days of insolvency indicates a need for revision of scoring and under occurrence of unforeseen circumstances (political crises and wars, inclement weather, etc.).
Scoring enables faster, easier and more efficient business decision – making, regarding the choice of business partners, competition analysis and risk assessment. It is also of great importance to analysts in procedure of detailed quantitative analysis which focuses on specific qualities of enterprises.
Report FI - DPL (Data on financial standing of other legal entity) shows financial standing and business performance of other legal entity for the last two years.
Special arrangements represent a set of data from original financial statements, individual and aggregated i.e. data and indicators on solvency or scoring, which are created according to terms and level of processing from the user’s request i.e. according to their methodology.