Belgian associations and foundations
Book 3 of the Companies and Associations Code (CCA) (See LOI - WET (fgov.be) for the version in Dutch or French) describes the legislative framework concerning the annual accounts and budgets of associations (Title 2) and foundations (Title 3).
There are 2 categories of associations and foundations with specific obligations. (See also Brochure FOD Justitie in Dutch or Brochure du SFP Justice in French, pages 27-28).
1. Double accounting - filing with the NBB
Associations and foundations (A&F) meeting more than one of the criteria below must keep double-entry bookkeeping records and file their annual accounts to the National Bank’s Central Balance Sheet Office.
Criteria:
Number of employees (annual average) |
5 |
Other than non-recurring revenues |
€ 334.500 |
Assets |
€ 1.337.000 |
Liabilities |
€ 1.337.000 |
Depending on the number of employees, turnover and balance sheet total, they can choose between a full, abbreviated or micro scheme. (See size criteria for associations and foundations CCA, 3 :47§2 et 3 :51 §2).
2. Simplified accounting - filing at the registry of the company court
The majority of associations and foundations can keep simplified accounts.
Associations and foundations which do not exceed one of the above-mentioned criteria:
- may keep simplified accounts. (Economic Law Code, art. III.85, §2)
- must file the annual accounts to the registry of the company court of the legal entity's registered office (CCA, art. 2 :7 and art. 2 :9 §1,8°)