Belgian associations and foundations (A&F)
Book 3 of the Code of Companies and Associations sets out the legislative framework for the annual accounts and budgets of associations (Title 2) and foundations (Title 3).
There are two categories of associations and foundations, each of which has specific obligations.
A&F with double-entry bookkeeping: filing with the NBB
Associations and foundations (A&F) meeting more than one of the following criteria must have a double-entry bookkeeping system and file their annual accounts with the National Bank’s Central Balance Sheet Office.
Criteria
| Financial period starting | before 01/01/2024 | from 01/01/2024 |
|---|---|---|
| Number of employees (annual average) | 5 | 5 |
| Revenue other than non-recurring revenue | 334.500 euro | 391.000 euro |
| Assets | 1.337.000 euro | 1.562.000 euro |
| Liabilities | 1.337.000 euro | 1.562.000 euro |
Depending on the number of employees, the turnover and balance sheet total, they can opt for a full, abridged or micro model. (See the size criteria for associations & foundations, Arts 3:47 §2 and 3:51 §2 CCA.)
A&F with simplified accounting: filing with the registry of the business court
A majority of non-profits qualify for simplified accounting.
Associations and foundations that exceed no more than one of the abovementioned criteria:
- may keep simplified accounts (Art. III.85 §2 Code of Economic Law);
- must file their annual accounts with the registry of the business court in the judicial district where their registered office is located (Arts 2:7 and 2:9 §1(8) CCA).
MORE INFO Questions about which model your association or foundation should use to file its accounts? You can find more information on this page.