Accountancy in Belgium

>> Audit Requirements in Belgium

A company is required to prepare full statutory accounts for the shareholders that show a true and fair view and comply with all necessary regulations.

Furthermore, “large” companies must adopt an independent auditor. Large companies those which exceed more than one of the following criteria:

  • yearly average of staff: 50;
  • yearly turnover (excl. VAT): EUR 10.000.000;
  • total assets: EUR 3.650.000.

If the staff amounts to more than 100, a statutory auditor is always compulsory.

Members of groups that contain any of these types of company may also require an auditor.

Other recurrent legal requirements are:

  • Accounts must be prepared in accordance with a standardized series of accounting principles and rules;
  • A general meeting of shareholders must be held each year;
  • The annual accounts must be published.

Latest version updated 20th December 2017

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