Belgium

Financial Reporting Obligations for Companies in Belgium

1. Registry for Submitting Financial Statements

In Belgium, companies must submit their financial statements (annual accounts) to the Central Balance Sheet Office (Centrale des bilans / Balanscentrale), which is managed by the National Bank of Belgium (Banque Nationale de Belgique / Nationale Bank van België). Submission is mandatory and is done online via the official portals below.

2. Legal Forms Required to Submit Financial Statements

Under the Belgian Companies and Associations Code (BCAC), the principal company types and their filing obligations are as follows:

Common Legal Forms That Must File Financial Statements:

  • Société Anonyme (SA) / Naamloze Vennootschap (NV) — Public Limited Company: typically used for larger corporations; historically minimum capital €61,500; suitable for raising capital or listing.
  • Société à Responsabilité Limitée (SRL) / Besloten Vennootschap (BV) — Private Limited Company: the most common SME form; no statutory minimum capital under BCAC; flexible governance.
  • Société Coopérative (SC) / Coöperatieve Vennootschap (CV) — Cooperative Company: designed for cooperative models; generally at least three shareholders.
  • Société en Nom Collectif (SNC) / Vennootschap onder Firma (VOF) — General Partnership: partners jointly and severally liable.
  • Société en Commandite (SComm) / Commanditaire Vennootschap (CommV) — Limited Partnership: at least one general partner (unlimited liability) and one limited partner.

Legal Forms Not Generally Obliged to File Full Financial Statements:

  • Sole Proprietorships (natural persons) and Simple Partnerships (Société Simple / Maatschap) — unless specific turnover/size thresholds are met or special rules apply.
  • Entities with unlimited liability where all partners are physical persons may be exempt from full filing unless thresholds are exceeded.

3. Audit Requirements for Companies

Legal Form (Original and English Translation) Rule Criteria for Mandatory Audit
Société Anonyme (SA) / Naamloze Vennootschap (NV) — Public Limited Company Mandatory audit Audit required if the company exceeds two of the following three criteria:
— Turnover > €9,000,000
— Total assets > €4,500,000
— Average employees > 50
Société à Responsabilité Limitée (SRL) / Besloten Vennootschap (BV) — Private Limited Company Conditional audit Audit required if the company exceeds two of the same thresholds as SA/NV:
— Turnover > €9,000,000
— Total assets > €4,500,000
— Average employees > 50
Société Coopérative (SC) / Coöperatieve Vennootschap (CV) — Cooperative Company Mandatory audit for large companies Audit required if the company exceeds two of the following three criteria:
— Turnover > €9,000,000
— Total assets > €4,500,000
— Average employees > 50
Société en Nom Collectif (SNC) / Vennootschap onder Firma (VOF) — General Partnership Conditional audit Audit required if the company exceeds two of the same thresholds as SA/NV:
— Turnover > €9,000,000
— Total assets > €4,500,000
— Average employees > 50
Société en Commandite (SComm) / Commanditaire Vennootschap (CommV) — Limited Partnership Conditional audit Audit required if the company exceeds two of the same thresholds as SA/NV:
— Turnover > €9,000,000
— Total assets > €4,500,000
— Average employees > 50
Branches of Foreign Companies Mandatory audit Belgian branch accounts must be audited if the parent company is required to prepare/consolidate audited accounts in its home country.

4. Listed Companies and Financial Statements Publication

If a company is listed on the local stock exchange, it must publish its financial statements there. The main stock exchange in Belgium is Euronext Brussels — https://live.euronext.com/en/markets/brussels.

5. Deadline for Submitting Financial Statements

  • All legal forms must file within seven months after the financial year-end and no later than 30 days after approval by the General Meeting of Shareholders.

6. Partial Financial Statements

  • Certain small companies may file a micro or abridged model with reduced disclosures when under size thresholds.

7. Consequences of Non-Submission

  • Fines based on the duration of the delay.
  • Civil liability for damages caused to third parties.
  • Possible judicial dissolution, particularly for repeated non-filing across consecutive years.

8. Special Conditions for Foreign-Owned Branches

  • Foreign-owned branches must submit the parent company’s financial statements to the National Bank of Belgium and include a social balance sheet if employing staff in Belgium.

Sources

Source Link
National Bank of Belgium — Central Balance Sheet Office (overview) https://www.nbb.be/en/central-balance-sheet-office
Central Balance Sheet Office — Filing portal https://cri.nbb.be/bc9/web/company-file
Euronext Brussels https://live.euronext.com/en/markets/brussels
European e-Justice Portal — Business Registers in Belgium https://e-justice.europa.eu/content_business_registers_in_member_states-106-be-en.do
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