As you probably are aware, Belgian companies should annually deposit their statutory financial statements with the National Bank of Belgium. Filing should be done within 30 days after the financial accounts have been approved by the Annual General Meeting of Shareholders and no later than 7 months after the end of the financial year.
This means that for companies with a year-end closing per 31 December 2017, the ultimate deadline to file the statutory financial statements is in principle set at the end of July 2018. Note that late filing charges are in principle only applied in case of a filing after 31 August 2018.
Next to potential director’s liability due to late filing, following the law from June 2017, any interested party, the Public Prosecutor or a business investigation chamber may claim the dissolution of a company before the Commercial Court when the company fails to file its annual accounts by the end of the 7th month after the closure of the financial year. Depending on the claiming party and on the grounds of the case, the Court may grant the company concerned a regularization period for a minimum term of 3 months including a follow up by the business investigation chamber.
Belgian branches of foreign enterprises must file, unless exempted, annually:
- The head office’s statutory (and if applicable also the consolidated) financial statements, management report and audit report in the standard official form in which they have been drawn up, audited and published according to the legislation of the country in which the head office is located.
- The signed first page of the Belgian statutory financial statements
- The Belgian social balance sheet
These annual accounts should first be translated (free translation) in the official language applicable to the branch – French, Dutch or German – depending on the branch’s location.
For Belgian branches, the same due dates apply as for companies, i.e. filing within 30 days after approval of these financial statements but no later than 7 months after the financial year-end.
How can we help?
Do you need support with the compilation of the statutory financial statements or do you have questions in relation to the recording of some specific transactions, don’t hesitate to contact us.