What are the accounting obligations of associations, foundations and aisbl?

Three categories of organizations depending on size:

The belgian law distinguishes between three categories of associations, foundations and aisbl, with each category subject to specific obligations.

Category 'large' are those that meet two of the following three criteria:

1. average paid workers (full time equivalent): 5

2. total annual income, other than exceptional (excluding VAT): € 312,500

3. balance sheet total: € 1,249,500.

Category 'very large' are those that exceed an annual average of 100 paid workers, expressed in full-time equivalent or that meet two of the following three criteria:

1. average paid workers (full time equivalent): 50

2. total annual income, other than exceptional (excluding VAT): € 7,300,000
3. balance sheet total: € 3.65 million.

Category 'Small' are all others (examples: 2 employees and € 20,000 in revenues; or no workers and very little revenue):

These above Legal thresholds were last adjusted by Royal Decree on the 25 August 2012.

What are the belgian accounting requirements for SMALL organizations?

Small organizations need only:

  • keep simplified accounts with income statements and expenditure schedules

  • submit their accounts to the Registry of the Commercial Court.

See the website of Federal Public Service Justice

What are the belgian accounting requirements LARGE organizations?

Large organizations must:

  • keep accounts like a commercial companies with balance sheets, income statements and notes

  • submit their accounts to the Registry of the Commercial Court and the National Bank within 30 days of their approval.

What are the belgian accounting requirements VERY LARGE organizations?

Very large organizations have the same accounting requirements as larger organizations (see above) and must also appoint a commissioner and a member of the Institute of Registered Auditors (IRE).

See the website of Federal Public Service Justice
See the website of the National Bank of Belgium

This legal obligation does not preclude other organizations from appointing a commissioner who is not a member of the Institute of Registered Auditors and can be for example an accountant.

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Release by DonorInfo - Last modification : 16/05/2014