In recent weeks, Royal Decree-Law 4/2025 has been published in Spain’s Official State Gazette (BOE). This is a key piece of legislation aimed at easing the accounting and financial burden on companies still struggling with the effects of recent health and geopolitical crises. In addition, the package includes a plan to address the growing challenges posed by international trade tensions and tariffs.
The objectives are twofold: to ensure the viability of thousands of companies that remain vulnerable, and to strengthen the competitiveness of the Spanish business fabric in an increasingly uncertain global environment. Below, we outline the main developments introduced by this new royal decree.
Extension of the accounting moratorium until the end of 2026
One of the most significant points of Royal Decree-Law 4/2025 is the extension of the accounting moratorium. This allows companies not to count exceptional losses caused by COVID-19, inflation or the impact of the war in Ukraine when determining whether they are subject to compulsory dissolution.
The measure extends the exception provided for in Article 363.1 e) of the Spanish Companies Act until the end of the 2026 financial year. This gives businesses additional time to restore financial balance and avoid premature closure.
New support measures for economically vulnerable companies
A new package of direct support, public guarantees and financing mechanisms has been activated, specifically aimed at companies that are viable but currently facing short-term difficulties due to an adverse economic environment.
Key measures include:
- Soft credit lines channelled through the ICO and Cofides.
- Programmes for debt restructuring or refinancing.
- Targeted grants for energy-intensive sectors or those affected by declining consumption.
These support mechanisms are designed to strengthen liquidity, promote the orderly restructuring of obligations, and prevent the closure of businesses deemed strategic to the economy.
Anti-Tariff Plan: Support for internationalisation and industry
The Government is also promoting a National Commercial Defence Plan to protect Spanish companies from the effects of trade disputes and foreign trade barriers, particularly in relation to the United States and China.
Key elements of the plan include:
- Tax incentives for exporting companies.
- Support for market and supplier diversification.
- Technical and financial assistance for the international expansion of industrial SMEs.
- Strengthening of commercial defence mechanisms before the EU and the WTO.
How could this regulation affect your business? What steps should you take?
This Royal Decree-Law may have a direct impact on the financial stability and planning of many companies. If your business has reported accounting losses in recent years or is seeking alternative sources of funding to ease cash flow pressures, these measures may offer new opportunities:
- Avoid a dissolution trigger: If your balance sheet shows equity imbalance, check whether you are eligible for the extended accounting moratorium and gain time to restore financial health without risking company continuity.
- Assess the new support schemes: Determine whether your company may be eligible for direct grants or subsidised financing. Many of these measures require a formal application and up-to-date financial documentation.
- Prepare for global trade risks: If you operate in international markets, monitor new tariff barriers and explore incentives to diversify exports or suppliers.
- Plan ahead with professional support: Given that some of these measures are subject to deadlines and specific requirements, early action and expert guidance are strongly recommended to avoid delays or rejections.
At LEIALTA, we can help you assess the real impact of these measures on your business, identify which support schemes you may qualify for, and guide you through the full process of application, compliance and strategic planning.
Do not hesitate to contact us if you would like to better understand how these schemes could benefit your company.
