What is ESEF?

Since 2021, the European Commission asks listed companies to publish their financial report with the ESEF format. But what exactly is this digital format that allows investors to have a better vision of the European economical landscape?

The ESEF format (European Single Electronic Format) has been thought for companies’ Annual Reports. It was introduced by Europe to standardize European companies’ financial information, in order to offer investors complete visibility of the European economic panorama. It implies two major changes:

  • The old PDF is replaced by the XHTML format and is now called URD (Universal Registration Document). Instead of publishing a PDF, for which the exploitation and extraction of information is complicated, manual and tedious, companies publish a much more digital format, similar to a large web page, gathering all the information. HTML format also allows more creativity and infinite functionalities on data rendering, that a simple browser, with all its facilities, can display like any website.
  • This new digital format also gives the opportunity to tag the contents. Tags are small invisible markers (meta information), embedded before and after content to identify its nature. They only occures on what is called a taxonomy that covers over 6,000 types of information (incomes, taxes, expenses, receipts, and other topics), and allow content identification and analysis.

The true power of this format is the ability to be analyzed and indexed, whatever its origin, however it has been organized, and to be massively processed.

As a cherry on the cake, thanks to its reusability, all this information will soon be accessible in a single access point within Europe. But we will have the opportunity to talk about it soon.

And of course, Pomdoc Pro enables the creation of these key documents, and to export them at any time in ESEF, or PDF format for printing and for those who would be nostalgics!