| name | israeli-annual-reports |
| description | Navigate and analyze Israeli corporate annual reports (dochot titkuftiim), financial filings, and regulatory disclosures. Use when user asks about Israeli annual reports, MAYA filings, IFRS financial statements, doch titkufti, dochot kaspiyim, or Companies Law reporting requirements. Covers TASE filing types, Israeli GAAP to IFRS transition, Hebrew financial terminology, and key financial statement analysis. |
| license | MIT |
| compatibility | Works with Claude Code, Cursor, GitHub Copilot, Windsurf, OpenCode, Codex. |
Israeli Annual Reports
Reporting Framework
Israeli public companies adopted IFRS in 2008. Prior reports use Israeli GAAP. Banks follow BOI adaptations, insurance companies follow IFRS 17 since 2023.
Report Types and Deadlines
| Report | Deadline | Content |
|---|
| Annual (Doch Titkufti) | 3 months after year-end | Audited financials, board report |
| Quarterly (Doch Rivoni) | 2 months after quarter | Reviewed interim financials |
| Immediate (Doch Miyadi) | Hours after event | Material events |
| Shelf Prospectus | Valid up to 3 years | Securities offering framework |
Annual Report Structure
- Part A: Description of Business (operations, markets, risks)
- Part B: Board Report (MD&A, financial review)
- Part C: Financial Statements (balance sheet, P&L, cash flow)
- Part D: Additional Information (officer compensation, audit committee)
Key Hebrew Financial Terms
- Maazan = Balance Sheet
- Doch Revach VeHefsed = Income Statement
- Hachnasot = Revenue
- Revach Naki = Net Profit
- Nechasim Shotfim = Current Assets
- Monitin = Goodwill
- Odfim = Retained Earnings
- Tzad Kashur = Related Party
Companies Law Requirements
- Sec. 171(a) of the Companies Law 1999: the board of directors (דירקטוריון) approves annual financial statements.
- Disclosure of approved statements to shareholders is governed by the Securities Law 1968 + the Securities Regulations (Periodic and Immediate Reports) 1970, NOT by Sec. 172 of the Companies Law (Sec. 172 deals with the audit-committee review). Earlier versions of this skill mis-attributed approval to Sec. 172.
- Sec. 267-269: Audit-committee requirements
- Sec. 270-275: Related-party transaction approvals (cross-reference IAS 24 disclosure)
Filing Systems and Spec Compliance
- Magna (
magna.isa.gov.il) is the filer-side system used by issuers to submit periodic and immediate reports to the ISA. MAYA (maya.tase.co.il) is the public-facing viewer of those filings. Don't conflate the two: agents asking "where do I file?" need Magna; agents asking "where do I read?" need MAYA.
- ESEF / iXBRL: ISA mandates structured XBRL filing of periodic reports under a phased rollout (large issuers first). 2026+ filings increasingly arrive as inline-XBRL packages alongside the human-readable PDF.
- Reg. 53A (dual-listed): Companies dual-listed on a US exchange (Teva, Check Point, NICE, CyberArk, etc.) may file under the US disclosure regime instead of the full Israeli regime. Major operational gotcha when comparing dual-listed issuers against Israeli-only issuers — the disclosure scope and timing differ. Note: the Teva example below IS dual-listed.
Recommended MCP Servers
| MCP | What It Adds |
|---|
tase-mcp | TASE OpenAPI access for securities, indices, EOD prices, MAYA announcements, and management-positions data. Pair this skill with the MCP to fetch live filings instead of scraping MAYA. |
Examples
Example 1: Analyze a TASE-Listed Company's Annual Report
User says: "Help me understand Teva's latest annual report from MAYA"
Actions:
- Identify report type: Annual Report (Doch Shnati) filed on MAYA system
- Locate key sections: Balance Sheet (Maazanit), Income Statement (Doch Revach VeHefsed), Cash Flow
- Extract key metrics: revenue, operating profit, net profit in NIS
- Compare with previous year and sector benchmarks
- Note auditor opinion and any qualifications
Result: Structured analysis of annual report with key financial highlights in context
Example 2: Compare Israeli Bank Financial Statements
User says: "Compare Leumi and Hapoalim annual reports"
Actions:
- Pull latest annual reports from MAYA (maya.tase.co.il)
- Extract comparable metrics: total assets, net income, ROE, capital adequacy
- Normalize data to NIS millions for comparison
- Note regulatory differences in reporting (Bank of Israel requirements)
- Create comparison table with key ratios
Result: Side-by-side comparison of two Israeli banks' financial performance
Bundled Resources
Scripts
scripts/financial_parser.py -- Hebrew-English financial term glossary with search functionality covering balance sheets, income statements, and MAYA filings. Run: python scripts/financial_parser.py --help
References
references/hebrew-financial-terms.md -- Complete Hebrew-English financial terminology reference with tables for financial statements, income statement items, MAYA filing types, and Israeli accounting standards (IFRS-IL). Consult when translating financial terms or navigating Hebrew financial documents.
Gotchas
- Israeli public companies adopted IFRS in 2008. Reports before that date use Israeli GAAP, which has significant differences. Agents may apply IFRS assumptions to pre-2008 data.
- MAYA filings use Hebrew company names that may differ substantially from English trading names. Searching MAYA by securities number (mispar niyar) is more reliable than by name.
- Israeli banks follow Bank of Israel adaptations to IFRS, not standard IFRS. Agents may apply general IFRS interpretations to bank financial statements, producing incorrect analysis.
- The Hebrew term "maazan" refers to the balance sheet, not "balance" in the general sense. Agents may mistranslate Hebrew financial terms, confusing "revach naki" (net profit) with "revach golmi" (gross profit).
- Annual report filing deadline is 3 months after fiscal year-end, and quarterly is 2 months. Agents may apply US SEC deadlines (60 days for accelerated filers) which do not match Israeli requirements.
Reference Links
Troubleshooting
Error: "Cannot find report on MAYA system"
Cause: Company may file under a different Hebrew name or subsidiary
Solution: Search MAYA by securities number (mispar niyar) rather than company name. Hebrew company names may differ from the English trading name.
Error: "Financial terms not matching standard translations"
Cause: Israeli companies sometimes use non-standard Hebrew financial terminology
Solution: Consult references/hebrew-financial-terms.md for standard terms. Some companies use colloquial Hebrew instead of formal accounting terms (e.g., "רווחים" instead of "רווח נקי").
