Accounting Obligations for Businesses in Belgium

Introduction

Every business established in Belgium is subject to strict accounting obligations. Compliance with these obligations is essential to avoid penalties and optimize your financial management.

Types of Accounting

Simplified Accounting

Reserved for small businesses (natural persons and certain companies) that do not exceed the thresholds:

• Turnover ≤ €500,000 (excl. VAT)
• No more than 3 employees

It consists of maintaining three journals:

• Purchase journal
• Sales journal
• Financial journal (bank and cash)

Double-Entry Accounting

Mandatory for companies (SRL, SA, etc.) and large businesses. It records each transaction in at least two accounts and allows the preparation of a balance sheet and income statement.

Annual Accounts

Micro-Enterprise

• Abbreviated balance sheet and income statement
• Simplified filing with the National Bank of Belgium (NBB)
• Filing cost: approximately €70

Small Enterprise

• Abbreviated annual accounts format
• Filing with the NBB
• No auditor obligation

Large Enterprise

If you exceed more than one of the following criteria:

• 50 employees (annual average)
• €9,000,000 turnover (excl. VAT)
• €4,500,000 balance sheet total

You must:

• Prepare annual accounts using the full format
• Appoint a statutory auditor
• File accounts with the NBB

Tax Returns

Corporate Tax

• Standard rate: 25%
• Reduced rate: 20% on the first €100,000 bracket (under conditions)
• Annual return to be filed within the deadlines set by the administration

Advance Payments

To avoid a tax surcharge, companies must make quarterly advance payments:

• AP1: April 10
• AP2: July 10
• AP3: October 10
• AP4: December 20

Annual Accounting Calendar

Conclusion

Good accounting management is the foundation of a healthy business. Don't neglect your obligations to avoid fines and optimize your taxation.

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