SME offensive against lack of information on supplier payments

BarcelonaNew step in claims against non-payments and late payments to suppliers. The Multisector Platform against Late Payments (PMcM), which brings together around one million SMEs and self-employed workers, has demanded that various state agencies and the European Commission force large companies to comply with the legal information they should provide on confirmings (collection of invoices before due date), deferrals or transfer of collection (having a third party collect the invoice).

This organization, chaired by Antoni Cañete, denounces "abusive payment practices" by large listed companies that, according to its analysis, provide "insufficient information" on payments to suppliers in their annual reports. This, they add, constitutes a breach of the new European regulation 2024/1317, which requires detailing mechanisms such as the confirming, deferrals and transfers of collection.

According to Cañete, who is also president of the Catalan employers' association Pimec, "the confirming It cannot continue to be used as an accounting device to simulate payments already made. European regulations are clear: companies must detail the terms of these agreements, as they affect liquidity and financial risk. Transparency is not optional." The PMcM will send the conclusions of its analyses to the European Commission, the Institute of Accounting and Auditing (ICAC), the National Securities Market Commission (CNMV), the Spanish Association of Auditors and Economists (AESA) and those responsible for compliance from several large companies, including auditors, to take urgent action.

Lack of transparency

According to the platform, when comparing the annual reports of large companies in sectors such as construction, telecommunications or services, there are many differences in terms of accounting and the level of detail on the agreements. confirming. While some companies are clear about their mechanisms, others avoid making any reference to them, which makes it difficult to determine whether these instruments do not exist or simply do not disclose them.

The main problem is the lack of uniformity that prevents comparing the financial situation between companies. "This opacity makes it difficult to accurately determine the amount of debt, payment terms to suppliers and the impact on the liquidity of the confirming. Furthermore, it can hide significant financial risks for auditors, investors, and supervisors.

All of this occurs in a context in which payment deadlines continue to be widely missed. According to data from the Bank of Spain, during the second half of 2024, the average payment term among listed companies stood at 136 days. In some sectors, such as information and communications, it exceeds 250 days, well above the legal limit of 60 days. According to Cañete, this situation "directly impacts the liquidity of SMEs, reduces their investment capacity, and makes them more susceptible to any economic crisis."