Commission Delegated Regulation (EU) 2025/19 of 26 September 2024 amending the regulatory technical standards laid down in Delegated Regulation (EU) 2019/815 as regards the 2024 update of the taxonomy for the single electronic reporting format

THE EUROPEAN COMMISSION,

Having regard to the Treaty on the Functioning of the European Union,

Having regard to Directive 2004/109/EC of the European Parliament and of the Council of 15 December 2004 on the harmonisation of transparency requirements in relation to information about issuers whose securities are admitted to trading on a regulated market and amending Directive 2001/34/EC (1), and in particular Article 4(7) thereof,

Whereas:

(1) Commission Delegated Regulation (EU) 2019/815 (2) specifies the single electronic reporting format to be used by issuers whose securities are admitted to trading on a regulated market for the preparation of their annual financial reports. Consolidated financial statements included therein are prepared either, in accordance with International Accounting Standards, which are commonly referred to as International Financial Reporting Standards (IFRS), adopted pursuant to Regulation (EC) No 1606/2002 of the European Parliament and of the Council (3), or in accordance with IFRSs as issued by the International Accounting Standards Board (IASB) which, based on Commission Decision 2008/961/EC (4), are considered as equivalent to IFRSs adopted pursuant to Regulation (EC) No 1606/2002.

(2) The core taxonomy to be used for the single electronic reporting format is based on the IFRS Accounting Taxonomy and is an extension thereof. The IFRS Foundation updates the IFRS Accounting Taxonomy annually to reflect, amongst other developments, the issuance of new IFRSs, amendments to existing IFRSs, the analysis of disclosures commonly reported in practice, or improvements to general content or technology of the IFRS Accounting Taxonomy. Therefore, it is necessary to regularly update the regulatory technical standards to reflect the updates of the IFRS Accounting Taxonomy.

(3) In March 2023 and March 2024, the IFRS Foundation published the updates to the IFRS Accounting Taxonomy. These updates are therefore to be reflected in Delegated Regulation (EU) 2019/815.

(4) Annexes I, II and VI to Delegated Regulation (EU) 2019/815 should be updated to reflect those updates and provide additional guidance to issuers on tagging their financial statements. Although only certain parts of those Annexes need to be updated, it is necessary to replace those Annexes in their entirety to enhance, in particular, the readability for stakeholders of the applicable tables of the 2023 and 2024 updates. This will facilitate implementation of the tagging requirements and the highest standard of comparability of electronic financial statements drawn up in accordance with IFRS at Union and global level for end-users. Annexes III and V should also be updated to incorporate the most recent developments in the Inline XBRL specifications pertaining to Reporting Packages.

(5) Delegated Regulation (EU) 2019/815 should therefore be amended accordingly.

(6) To provide issuers with enough time for the effective implementation of the new requirements, and to minimise compliance costs, the new taxonomy should apply to annual financial reports containing financial statements for financial years beginning on or after 1 January 2025. However, issuers should be allowed to implement the new taxonomy for financial years beginning on or after 1 January 2024.

(7) This Regulation is based on the draft regulatory technical standard submitted to the Commission by the European Securities and Markets Authority (ESMA).

(8) This Regulation is a technical update to Delegated Regulation (EU) 2019/815 to reflect updates in the IFRS Accounting Taxonomy, in the Inline XBRL specifications and provide additional guidance to mark up IFRS financial statements. This Regulation does not constitute new policy or a substantial change to existing policy. ESMA has not conducted open public consultations on the draft regulatory technical standards on which this Regulation is based nor analysed the potential related costs and benefits. It has not requested the advice of the Securities and Markets Stakeholder Group established under Article 37 of Regulation (EU) No 1095/2010 of the European Parliament and of the Council (5) because that would have been highly disproportionate to the scope and impact of this amendment,

HAS ADOPTED THIS REGULATION:

Article 1

Delegated Regulation (EU) 2019/815 is amended as follows:

(1) Annex I is replaced by the text in Annex I to this Regulation;

(2) Annex II is replaced by the text in Annex II to this Regulation;

(5) Annex VI is replaced by the text in Annex III to this Regulation.

Article 2

This Regulation shall enter into force on the twentieth day following that of its publication in the Official Journal of the European Union.

Delegated Regulation (EU) 2019/815, as amended by this Regulation shall apply to annual financial reports containing financial statements for financial years beginning on or after 1 January 2025.

However, Delegated Regulation (EU) 2019/815 as amended by this Regulation may be applied to annual financial reports containing financial statements for financial years beginning before 1 January 2025.

This Regulation shall be binding in its entirety and directly applicable in all Member States.

Done at Brussels, 26 September 2024.

For the Commission The President Ursula VON DER LEYEN

(1) OJ L 390, 31.12.2004, p. 38, ELI: http://data.europa.eu/eli/dir/2004/109/oj.

(2) Commission Delegated Regulation (EU) 2019/815 of 17 December 2018 supplementing Directive 2004/109/EC of the European Parliament and of the Council with regard to regulatory technical standards on the specification of a single electronic reporting format (OJ L 143, 29.5.2019, p. 1, ELI: http://data.europa.eu/eli/reg_del/2019/815/oj).

(3) Regulation (EC) No 1606/2002 of the European Parliament and of the Council of 19 July 2002 on the application of international accounting standards (OJ L 243, 11.9.2002, p. 1, ELI: http://data.europa.eu/eli/reg/2002/1606/oj).

(4) Commission Decision of 12 December 2008 on the use by third countries’ issuers of securities of certain third country’s national accounting standards and International Financial Reporting Standards to prepare their consolidated financial statements (OJ L 340, 19.12.2008, p. 112, ELI: http://data.europa.eu/eli/dec/2008/961/oj).

(5) Regulation (EU) No 1095/2010 of the European Parliament and of the Council of 24 November 2010 establishing a European Supervisory Authority (European Securities and Markets Authority), amending Decision No 716/2009/EC and repealing Commission Decision 2009/77/EC (OJ L 331, 15.12.2010, p. 84, ELI: http://data.europa.eu/eli/reg/2010/1095/oj).