Belgium Bookkeeping

Belgium Bookkeeping Skill v1.0

General reference only. This skill is general tax/accounting reference material for AI-assisted workflows. It has not been reviewed for any specific person's facts, documents, elections, deadlines, residency, filing status, or local procedures. Do not rely on it to file, pay, amend, or take a tax position without review by a qualified professional in the relevant jurisdiction.

Section 1 -- Quick Reference

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

Class 3 -- Inventories and Work in Progress

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

Class 5 -- Cash and Short-Term Investments

Class 6 -- Charges (Expenses)

Class 7 -- Produits (Income)

Section 3 -- Revenue Recognition

Cash vs Accrual Basis

Key Rules

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

Simplified Bookkeeping Thresholds

• 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 EUR 500,000: full double-entry bookkeeping is mandatory

Section 4 -- Expense Classification

Deductible Expenses (Key Categories)

Partially/Non-Deductible Expenses

Company Car Formula (from 2020)

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

Depreciation Methods and Rates

Key Rules

• Proportional (pro rata temporis) depreciation in year of acquisition -- calculated on daily basis
• 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)
• SMEs may opt for declining-balance (max 2× straight-line rate, capped at 40% of acquisition cost)
• 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)

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

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

CODA Format

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+++)

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

Section 9 -- Micro-Entity / Small Business Simplifications

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

Must not exceed more than one criterion on the balance sheet date of the last completed financial year.

Simplifications

Sole Traders / Self-Employed (Zelfstandigen)

• Turnover ≤ EUR 500,000 (excl. VAT): simplified single-entry bookkeeping permitted
• Above EUR 500,000: full double-entry bookkeeping mandatory
• All self-employed must file annual income tax (personenbelasting/IPP) with annexe for professional income
• Social contributions paid to social insurance fund (sociaal verzekeringsfonds)

Section 10 -- Interaction with Tax Skills

Corporate Income Tax (ISOC/VenB)

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

VAT (TVA/BTW)

• VAT is recorded in accounts 411 (input VAT recoverable) and 451 (output VAT payable)
• Monthly or quarterly VAT returns depending on turnover threshold (EUR 2,500,000)
• Annual client listing (listing annuelle) due by 31 March
• Intra-community listings due monthly
• Use the belgium-vat-return skill for filing details

Social 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.

Source: OpenAccountants — open tax Guides for AI, reviewed by named CPAs/CAs/EAs. Quality: source-cited draft. For always-current figures and named-accountant backing, connect the OpenAccountants MCP server (openaccountants-mcp).