belgium-bookkeeping

Section 1 -- Quick Reference

Quick Reference

Field	Value
Country	Belgium (Koninkrijk België / Royaume de Belgique)
Currency	EUR
Financial year	Flexible (most common: 1 January -- 31 December)
Accounting standards	Belgian GAAP; Royal Decree of 29 April 2019 (WVV/CSA execution)
Standard chart of accounts	PCMN / MAR (Plan Comptable Minimum Normalisé / Minimumindeling Algemeen Rekeningenstelsel)
Governing body	CNC/CBN (Commission des Normes Comptables / Commissie voor Boekhoudkundige Normen)
Key legislation	Code des Sociétés et des Associations (CSA) / Wetboek van Vennootschappen en Verenigingen (WVV); Arrêté Royal 29/04/2019
Filing obligation	Nationale Bank van België (NBB/BNB) -- within 7 months of year-end
Tax authority	SPF Finances / FOD Financiën
Mandatory chart	Yes -- PCMN/MAR is legally required for all enterprises subject to bookkeeping obligations

Section 2 -- Standard Chart of Accounts (PCMN/MAR)

The PCMN is the legally mandated Belgian chart of accounts. It uses 7 main classes (1-7) plus optional classes 8 and 9.

Class 1 -- Equity, Provisions and Long-Term Debt

Class 1 -- Equity, Provisions and Long-Term Debt

Code	Account	Description
10	Capital	Share capital
11	Contribution hors capital	Share premium and other contributions
12	Plus-values de réévaluation	Revaluation surpluses
13	Réserves	Reserves
130	Réserve légale	Legal reserve
131	Réserves indisponibles	Unavailable reserves
133	Réserves disponibles	Available reserves
14	Bénéfice/Perte reporté(e)	Retained earnings / accumulated losses
15	Subsides en capital	Capital grants
16	Provisions	Provisions for liabilities and charges
17	Dettes à plus d'un an	Amounts payable after more than one year
170	Emprunts subordonnés	Subordinated loans
172	Emprunts bancaires	Bank loans (long-term)
173	Dettes de location-financement	Finance lease obligations
175	Dettes commerciales	Trade debts (long-term)

Class 2 -- Formation Expenses, Fixed Assets, Long-Term Receivables

Class 2 -- Formation Expenses, Fixed Assets, Long-Term Receivables

Code	Account	Description
20	Frais d'établissement	Formation/incorporation expenses
21	Immobilisations incorporelles	Intangible fixed assets
210	Frais de R&D	Research and development costs
211	Concessions, brevets, licences	Concessions, patents, licences
212	Goodwill	Goodwill
22	Terrains et constructions	Land and buildings
23	Installations, machines	Plant, machinery and equipment
24	Mobilier et matériel roulant	Furniture and vehicles
240	Mobilier et matériel de bureau	Office furniture and equipment
241	Matériel informatique	Computer hardware
242	Matériel roulant	Vehicles
25	Immob. détenues en location-financement	Assets held under finance leases
26	Autres immob. corporelles	Other tangible fixed assets
27	Immob. financières	Financial fixed assets
28	Amortissements	Accumulated depreciation (contra)
29	Créances à plus d'un an	Amounts receivable after more than one year

Class 3 -- Inventories and Work in Progress

Class 3 -- Inventories and Work in Progress

Code	Account	Description
30	Matières premières	Raw materials
31	Fournitures	Consumables
32	En-cours de fabrication	Work in progress
33	Produits finis	Finished goods
34	Marchandises	Goods for resale
35	Immeubles destinés à la vente	Real estate for sale
36	Acomptes versés	Advance payments on inventory
37	Commandes en cours	Contracts in progress

Class 4 -- Receivables and Payables (within one year)

Class 4 -- Receivables and Payables (within one year)

Code	Account	Description
40	Créances commerciales	Trade receivables
400	Clients	Customers
401	Effets à recevoir	Bills of exchange receivable
44	Dettes commerciales	Trade payables
440	Fournisseurs	Suppliers
441	Effets à payer	Bills of exchange payable
45	Dettes fiscales, salariales, sociales	Tax and social security payables
450	Dettes fiscales estimées	Estimated tax payable
451	TVA à payer	VAT payable
452	Impôts et taxes à payer	Taxes payable
453	Précomptes retenus	Withholding taxes
454	ONSS	Social security payable
455	Rémunérations	Wages payable
46	Acomptes reçus	Advance payments received
48	Dettes diverses	Sundry payables
49	Comptes de régularisation	Accruals and deferred income
490	Charges à reporter	Deferred charges
491	Produits acquis	Accrued income
492	Charges à imputer	Accrued charges
493	Produits à reporter	Deferred income

Class 5 -- Cash and Short-Term Investments

Class 5 -- Cash and Short-Term Investments

Code	Account	Description
50	Actions propres	Own shares
51	Actions et parts	Shares and participations
52	Titres à revenu fixe	Fixed-income securities
53	Dépôts à terme	Term deposits
55	Établissements de crédit	Bank accounts
550	Compte courant	Current account
56	Office des chèques postaux	Postal account
57	Caisses	Cash in hand
58	Virements internes	Internal transfers

Class 6 -- Charges (Expenses)

Class 6 -- Charges (Expenses)

Code	Account	Description
60	Approvisionnements et marchandises	Purchases of goods/materials
600	Achats de matières premières	Purchases of raw materials
604	Achats de marchandises	Purchases of goods for resale
61	Services et biens divers	Services and miscellaneous goods
610	Loyers et charges locatives	Rent and related charges
611	Entretien et réparations	Maintenance and repairs
612	Fournitures (énergie, eau)	Utilities (energy, water)
613	Fournitures de bureau	Office supplies
614	Assurances	Insurance
615	Transports	Transport costs
616	Frais postaux et télécom	Postal and telecoms
617	Honoraires	Professional fees
618	Publicité	Advertising
619	Rétributions de tiers	Third-party remuneration
62	Rémunérations et charges sociales	Staff costs
620	Rémunérations brutes	Gross wages
621	Cotisations patronales ONSS	Employer social security
623	Assurance groupe/pension	Group insurance/pension
63	Amortissements et réductions de valeur	Depreciation and write-downs
630	Dotation aux amortissements	Depreciation charge
634	Réductions de valeur stocks	Write-down on inventory
64	Autres charges d'exploitation	Other operating charges
640	Taxes d'exploitation	Operating taxes (précompte immobilier, etc.)
65	Charges financières	Financial charges
650	Intérêts sur emprunts	Interest on borrowings
653	Frais bancaires	Bank charges
66	Charges exceptionnelles	Extraordinary charges
67	Impôts sur le résultat	Income taxes
670	Impôts belges sur le résultat	Belgian income tax

Class 7 -- Produits (Income)

Class 7 -- Produits (Income)

Code	Account	Description
70	Chiffre d'affaires	Turnover
700	Ventes de marchandises	Sales of goods
701	Ventes de produits finis	Sales of finished products
706	Prestations de services	Services rendered
71	Variation des stocks/en-cours	Change in inventories/WIP
72	Production immobilisée	Capitalised production
74	Autres produits d'exploitation	Other operating income
75	Produits financiers	Financial income
750	Produits des immob. financières	Income from financial assets
751	Produits des actifs circulants	Income from current assets
753	Intérêts créditeurs	Interest received
76	Produits exceptionnels	Extraordinary income
77	Régularisation d'impôts	Tax adjustments

Section 3 -- Revenue Recognition

Cash vs Accrual Basis

Cash vs Accrual Basis

Entity Type	Basis	Notes
All companies (SA/BV/SRL/NV)	Accrual (mandatory)	WVV/CSA requires accrual under all schemes
Sole trader (entreprise individuelle)	Simplified if turnover < EUR 500,000	Single-entry allowed below threshold
Liberal professions	Accrual (double-entry)	Must keep double-entry books if company form

Key Rules

• Revenue recognition timing — Revenue recognised at the point of delivery for goods, at completion/over time for services
• Prudence principle — Belgian GAAP follows prudence principle (voorzichtigheidsbeginsel): unrealised gains are not recognised, unrealised losses are provided for
• Construction contracts method — Construction contracts: completed-contract method is the norm under Belgian GAAP (unlike IFRS)
• VAT trigger (factuurstelsel) — Invoicing triggers VAT obligation regardless of payment (factuurstelsel)

Simplified Bookkeeping Thresholds

• Simplified single-entry bookkeeping eligibility — EUR 500,000 EUR (Enterprises with annual turnover (excl. VAT) ≤ EUR 500,000 may use simplified single-entry bookkeeping (purchase/sales journal, financial journal, inventory once per year))
• Full double-entry bookkeeping mandatory — Above EUR 500,000: full double-entry bookkeeping is mandatory

Section 4 -- Expense Classification

Deductible Expenses (Key Categories)

Deductible Expenses (Key Categories)

Category	PCMN Code	Tax Deductibility
Office rent	610	100% deductible
Utilities (business)	612	100% deductible
Professional fees (accountant, lawyer)	617	100% deductible
Insurance (business)	614	100% deductible
Advertising	618	100% deductible
Office supplies	613	100% deductible
Postage and telecoms	616	100% deductible (business portion)
Bank charges	653	100% deductible
Software subscriptions	613/617	100% deductible
Staff costs	62x	100% deductible

Partially/Non-Deductible Expenses

Partially/Non-Deductible Expenses

Category	Limitation
Restaurant expenses (business)	69% deductible
Representation costs (gifts, receptions)	50% deductible
Company car costs	Limited by CO₂ formula; minimum 50% deductible (decreasing for polluting vehicles)
Clothing (non-uniform)	0% -- personal expense
Fines and penalties	0% -- never deductible
Income tax (ISOC/VenB)	0% -- never deductible
Social benefit in kind (excessive)	Subject to benefit-in-kind taxation

Company Car Formula (from 2020)

• Company car deductibility % — Deductibility % = 120% - (0.5% × CO₂ coefficient × CO₂ emission in g/km). Minimum 50%, maximum 100%. From 2026: fully electric = 100% deductible; fossil fuel cars purchased after 01/07/2023 face decreasing deductibility.

Section 5 -- Asset vs Expense Thresholds

Capitalization Rules

Capitalization Rules

Rule	Detail
Mandatory capitalization	All assets with useful life > 1 year must be capitalized (no de minimis threshold in law)
Common practice threshold	Assets < EUR 1,000 often expensed directly (administrative tolerance, not law)
Formation expenses	May be capitalized and amortized over max 5 years
R&D costs	May be capitalized if conditions met (CNC/CBN Advice 138/1)

Depreciation Methods and Rates

Depreciation Methods and Rates

Asset Type	Method	Common Rate
Industrial buildings	Straight-line	5% (20 years)
Commercial buildings	Straight-line	3% (33 years)
Plant and machinery	Straight-line	20% (5 years)
IT equipment (computers)	Straight-line	33% (3 years)
Office furniture	Straight-line	10-20% (5-10 years)
Vehicles	Straight-line	20% (5 years)
Software	Straight-line	33% (3 years)
Goodwill	Straight-line	Min. 5 years (max 20% p.a.)
Intangible assets (general)	Straight-line	Minimum 5 years (20% max)
Formation expenses	Straight-line	Maximum 5 years (20%)

Key Rules

• Pro rata temporis depreciation — Proportional (pro rata temporis) depreciation in year of acquisition -- calculated on daily basis
• Declining balance restriction — Double declining balance method was formerly allowed; now only straight-line is accepted for tax (since 2020 reform for large companies; SMEs retained declining-balance option)
• SME declining-balance option — SMEs may opt for declining-balance (max 2× straight-line rate, capped at 40% of acquisition cost)
• Residual value convention — Residual value is typically EUR 0 (Belgian practice)

Section 6 -- P&L Format (Compte de Résultats / Resultatenrekening)

Belgium prescribes a specific P&L format in the Royal Decree. Small companies use the "abbreviated" scheme; micro-entities use the "micro" scheme.

Full/Abbreviated Scheme (by Nature)

P&L Full/Abbreviated Scheme (by Nature)

I.    Chiffre d'affaires (Turnover)                                xxx
II.   Variation des stocks / en-cours                              xxx
III.  Production immobilisée                                       xxx
IV.   Autres produits d'exploitation                               xxx
                                                                -------
      Total produits d'exploitation                                xxx

V.    Approvisionnements et marchandises                          (xxx)
VI.   Services et biens divers                                    (xxx)
VII.  Rémunérations et charges sociales                           (xxx)
VIII. Amortissements et réductions de valeur                      (xxx)
IX.   Provisions pour risques et charges                          (xxx)
X.    Autres charges d'exploitation                               (xxx)
                                                                -------
      Bénéfice/Perte d'exploitation                                xxx

XI.   Produits financiers                                          xxx
XII.  Charges financières                                         (xxx)
                                                                -------
      Bénéfice/Perte courant(e)                                    xxx

XIII. Produits exceptionnels                                       xxx
XIV.  Charges exceptionnelles                                     (xxx)
                                                                -------
      Bénéfice/Perte de l'exercice avant impôts                    xxx

XV.   Impôts sur le résultat                                      (xxx)
                                                                -------
XVI.  Bénéfice/Perte de l'exercice                                 xxx

Section 7 -- Balance Sheet Format (Bilan / Balans)

Belgium uses a prescribed vertical format.

Full/Abbreviated Scheme

Balance Sheet Full/Abbreviated Scheme

ACTIF (Assets)

ACTIFS IMMOBILISÉS (Fixed assets)
  I.    Frais d'établissement                                     xxx
  II.   Immobilisations incorporelles                             xxx
  III.  Immobilisations corporelles                               xxx
  IV.   Immobilisations financières                               xxx

ACTIFS CIRCULANTS (Current assets)
  V.    Créances à plus d'un an                                   xxx
  VI.   Stocks et commandes en cours                              xxx
  VII.  Créances à un an au plus                                  xxx
  VIII. Placements de trésorerie                                  xxx
  IX.   Valeurs disponibles                                       xxx
  X.    Comptes de régularisation                                 xxx
                                                               -------
TOTAL DE L'ACTIF                                                  xxx
                                                               =======

PASSIF (Equity & Liabilities)

CAPITAUX PROPRES (Equity)
  I.    Capital/Apport                                            xxx
  II.   Primes d'émission                                         xxx
  III.  Plus-values de réévaluation                               xxx
  IV.   Réserves                                                  xxx
  V.    Bénéfice/Perte reporté(e)                                 xxx
  VI.   Subsides en capital                                       xxx

PROVISIONS ET IMPÔTS DIFFÉRÉS                                     xxx
  VII.  Provisions pour risques et charges                        xxx
  VIII. Impôts différés                                           xxx

DETTES (Liabilities)
  IX.   Dettes à plus d'un an                                     xxx
  X.    Dettes à un an au plus                                    xxx
  XI.   Comptes de régularisation                                 xxx
                                                               -------
TOTAL DU PASSIF                                                   xxx
                                                               =======

Section 8 -- Bank Reconciliation Patterns

Belgian Bank Statement Formats

Belgian Bank Statement Formats

Bank	Format	Key Fields
KBC	CSV, CODA, MT940	Date, Amount, Counterparty, Communication (structured/free)
BNP Paribas Fortis	CSV, CODA	Date, Amount, Details, Counterparty name, Communication
Belfius	CSV, CODA	Date, Amount, Counterparty, Reference, Communication
ING Belgium	CSV, CODA	Date, Amount, Description, Counterparty IBAN
Argenta	CSV	Date, Amount, Description, Counterparty
Crelan	CSV, CODA	Date, Amount, Reference, Communication

CODA Format

• CODA — CODA (COdified DAily statement) is the Belgian standard bank statement format. All Belgian banks provide CODA files, which can be imported directly by accounting software (Exact, Yuki, Octopus, etc.).

Structured Communication (+++xxx/xxxx/xxxxx+++)

• Structured communication usage — Belgian transfers often use structured communication (gestructureerde mededeling / communication structurée) -- a 12-digit number formatted as +++xxx/xxxx/xxxxx+++. This is used for: Tax payments to FOD/SPF; Social security (ONSS/RSZ) payments; Invoice references (OGM/VCS)

Common Transaction Descriptions

Common Transaction Descriptions

Pattern	Classification
DOMICILIERING, DOMICILIATION	Direct debit (recurring expense)
OVERSCHRIJVING, VIREMENT	Bank transfer
BANCONTACT, MISTER CASH	Card payment
FOD FINANCIEN, SPF FINANCES	Tax payment
RSZ, ONSS	Social security payment
SOCIAAL SECRETARIAAT	Payroll bureau fee
PROVISIE, BANKKOSTEN	Bank charges
INTRESTEN, INTÉRÊTS	Interest (check direction)

Section 9 -- Micro-Entity / Small Business Simplifications

Size Categories (from financial years starting after 31 December 2023)

Size Categories (from financial years starting after 31 December 2023)

Category	Balance Sheet Total	Turnover (excl. VAT)	Employees
Micro	≤ EUR 450,000	≤ EUR 900,000	≤ 10
Small (Petit/Klein)	≤ EUR 6,000,000	≤ EUR 11,250,000	≤ 50
Large	Exceeds 2+ small criteria

• One-criterion tolerance — Must not exceed more than one criterion on the balance sheet date of the last completed financial year.

Simplifications

Simplifications

Feature	Micro	Small	Large
Annual accounts scheme	Micro-scheme	Abbreviated scheme	Full scheme
Filing with NBB	Required (micro model)	Required (abbreviated)	Required (full)
Statutory audit	Not required	Not required	Required
Management report	Not required	Not required	Required
Notes detail	Very limited (8 items)	Limited	Full
Filing fee (2025)	EUR 72.10 (online)	EUR 72.10 (online)	EUR 405.10 (online)
Social balance sheet	Not required	Required if employees	Required

Sole Traders / Self-Employed (Zelfstandigen)

• Simplified single-entry bookkeeping eligibility — EUR 500,000 EUR (Enterprises with annual turnover (excl. VAT) ≤ EUR 500,000 may use simplified single-entry bookkeeping (purchase/sales journal, financial journal, inventory once per year))
• Above threshold rule — Above EUR 500,000: full double-entry bookkeeping mandatory
• Annual income tax filing — All self-employed must file annual income tax (personenbelasting/IPP) with annexe for professional income
• Social contributions payment — Social contributions paid to social insurance fund (sociaal verzekeringsfonds)

Section 10 -- Interaction with Tax Skills

Corporate Income Tax (ISOC/VenB)

• Starting point for tax computation — Annual accounts are the starting point for the tax computation
• Fiscal result formula — Fiscal result = accounting profit + disallowed expenses (DNA) - tax-exempt income
• Key add-backs — Key add-backs: restaurant costs (31%), representation (50%), car excess, fines

Use the be-income-tax skill for detailed calculation

VAT (TVA/BTW)

• VAT accounts — VAT is recorded in accounts 411 (input VAT recoverable) and 451 (output VAT payable)
• VAT return frequency threshold — EUR 2,500,000 EUR (Monthly or quarterly VAT returns depending on turnover threshold)
• Annual client listing deadline — Annual client listing (listing annuelle) due by 31 March
• Intra-community listings frequency — Intra-community listings due monthly

Use the belgium-vat-return skill for filing details

Social Contributions

• Self-employed quarterly contributions — Self-employed: quarterly social contributions to sociaal verzekeringsfonds (accounts 62x for companies, deducted personally for sole traders)
• Company employer contributions — approximately 25-30% of gross salary (ONSS/RSZ) %

Use the be-social-contributions skill for details

Disclaimer

This skill and its outputs are provided for informational and computational purposes only and do not constitute tax, legal, or financial advice. Open Accountants and its contributors accept no liability for any errors, omissions, or outcomes arising from the use of this skill. All outputs must be reviewed and signed off by a qualified professional before filing or acting upon.

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