Company Filing Requirements in the Belgium

Legal requirement to file accounts

All Belgian companies have to present to the shareholders, an annual account according to a standard form; a complete plan for big companies and an abbreviated one for Small and Medium-Sized Companies. This annual account must include the balance sheet, the profit and loss account and the appendix.

The Brussels stockmarket allows corporates to publish their accounts by referring to the IASC (International Accounting Standards Committee) norms. The Belgian corporates whose capital is foreign may also follow the IASC norms. Companies register at local Commercial Court (Tribunal de Commerce or Tribunal Civil) but copies of documents are forwarded to a central archive, Centrale des Bilans of the Banque Nationale de Belgique.All limited companies must deposit a copy of their annual financial statements with the appropriate Tribunal. They include:

• Directors' Report
• Balance Sheet
• Profit & Loss Account
• Notes on accounting policies etc.
• SA, NV, SPRL and PVBA companies all file accounts.

Filing exemptions

Companies that have less than 100 employees and that are not exceeding more than one of the following criteria may file abridged accounts:

• Balance sheet totals
• Annual turnover (excluding VAT)
• Employing on average no more than 50 people during year

Belgian company registration and licensing procedures

Signature and drawing up of status are made with a notary for the BVBA / SPRL and NV / SA. For the SCRL, they are private deed. Status must be drawn up in Dutch in Flanders and in French in Wallonia.

Types of companies registered in Belgium

Form	Number of partners/ shareholders	Minimum and/or maximum capital	Liability	Release of financial documents
Besloten vennootschap met beperkte aansprakelijkheid (BVBA / SPRL) is a Private Limited Company.	Minimum 2 partners : 1 person for the sole proprietorship.	18,550 € entirely subscribed and released up to minimum 6,200 €.	Partners' liability is limited to the amount contributed.	No
Naamloze vennootschap (NV / SA) or Societ? Anonyme is a Public Limited Company.	Minimum 2 shareholders.	61,500 € totally subscribed and released.	Partners' liability is limited to the amount contributed.	Yes
Vennootschap Onder Firma (VO / SNC) or Societ? en Nom Collectif is a general partnership.	Minimum 2 partners.	No minimum capital.	Partners' liability is joint and several.	No
CV / SCS (Commanditaire Vernootschap) or Societ? en Commandite is a limited partnership.	Two types of partners: active partners and sleeping partners.	No minimum capital.	Active partners' liability is joint and several, while the sleeping partners are liable for debts until the amount of the sum contributed.	No
The co-operative company (SC) with unlimited and joint liability (SCRIS) or cooperative gathers a group of companies.	Maximum 3 partners.	No minimum capital.	Partners' liability is joint and unlimited on their whole personal assets.	No
The co-operative company with limited liability (SCRL) or Cooperative ? responsabilit? limitee is similar to the BVBA / SPRL.	Maximum 3 partners.	18,550 € released up to BEF 6,200 €.	Partners' liability is limited to the amount contributed.	No