The new TEÁOR’25 code system (the Hungarian version of NACE Rev.2.1), which entered into force on 1st of January 2025 has replace the previous TEÁOR’ 08 classification system and applies to all business entities. The transition to the nomenclature is implemented gradually and the previous classification system set to be discontinued by 31 of December 2025. As a first step thereof, the automatic reclassification of core and other activities was completed by the end of January.
It is the responsibility of the enterprises to modify any activities that could not be automatic reclassified or to review and adjust the automatically modified activities if necessary. To ensure compliance, business entities should review their registered activities and complete the required modifications in due time. The next key deadline for these updates is 1 July 2025.
Modification of economic activities
By January 31, 2025, the NAV has officially modified those TEÁOR’08 codes that could be unequivocally reclassified into the new TEÁOR’25 sectoral activity codes based on the conversion key published on the KSH website and ensured that the changes were recorded in the company register. Companies that wish to modify their transferred main activity code or define those other activities that could not be automatically reclassified according to the new TEÁOR’25 system must report these changes to the NAV by no later than 1 of July 2025.
If the above case does not occur, the NAV may close the activities classified by the old TEÁOR’08 (or older) system after 31 of August 2025, with the retroactive effect from 31 December 2024.
Amendment of the deed of incorporation
Affected companies are required to include their modified activities in their deed of incorporation, which must be submitted to the company court upon the first change in their registered company data after 1 July 2025. If the amendment of the deed of incorporation pertains exclusively to TEÁOR codes, the change can be registered without the payment of fees or publication charges.
Further necessary actions
For the modification of activity codes that could not be automatically reclassified based on the conversion key or that the NAV reclassified in a way that does not accurately reflect the company’s actual activities, a resolution from the company’s supreme body is required.
Authors: Gábor Hugai, Levente Kálmán and Zsófia Bernadett Gilly