All companies must file accounts, except:
- sole traders
- small companies whose members have unlimited liability: general partnerships, ordinary
- limited partnerships, cooperative limited liability companies
- large companies whose members have unlimited liability, if none of the members is a legal entity
- agricultural partnerships
- hospitals, unless they have taken the form of a trading company with limited liability
- Health insurance funds, professional associations, schools and higher education institutions.
Companies filing accounts must prepare their annual accounts every year. The annual accounts must be filed within 6 months following the end of the accounting year in question and within 30 days of the general shareholders meeting. IE. The annual accounts for the accounting year 1 January 1999 to 31 December 1999 must be filed with the Chamber of Commerce by 30 June 2000 at the latest.
Belgium companies are either small or large
The abbreviated presentation (just Balance Sheet) may be used by small companies.
The full presentation (Profit and Loss & Balance Sheet) must be used by large companies.
Under the Company Code, a company is regarded as large if
- The annual average of its workforce exceeds 100 persons OR
- More than one of the following criteria are exceeded:
- annual average of workforce: 50
- annual turnover (excluding VAT): €7,300,000
- balance sheet total: €3,650,000