Best Accounting & Auditing Lawyers in Hasselt

About Accounting & Auditing Law in Hasselt, Belgium

Accounting and auditing in Hasselt are governed by Belgian and European rules, applied locally in the Flemish Region. Hasselt is in the judicial district of the Enterprise Court of Antwerp - Hasselt division, and companies based in Hasselt keep books, prepare annual accounts, and file them with national bodies in line with Belgian law. Day-to-day accounting follows Belgian Generally Accepted Accounting Principles, referred to as BE GAAP, while statutory audits are carried out by licensed statutory auditors who apply International Standards on Auditing as adopted in Belgium. Filing of annual accounts is done with the National Bank of Belgiums Central Balance Sheet Office, and businesses must also respect tax and VAT record-keeping rules enforced by the federal tax administration.

The legal framework is centered on the Belgian Code of Companies and Associations, implementing royal decrees on bookkeeping and annual accounts, and technical guidance issued by the Belgian Accounting Standards Board, known in Dutch as CBN and in French as CNC. Professional conduct and access to the professions are supervised by the Institute for Tax Advisors and Accountants for accounting services and by the Institute of Registered Auditors for statutory audits, with additional public oversight for auditors. In Hasselt, filings and corporate documentation are generally made in Dutch, consistent with the language rules of the Flemish Region.

Why You May Need a Lawyer

Many businesses in Hasselt manage their accounting through an accountant and engage an auditor only if a statutory audit is required. A lawyer adds value when legal interpretation, liability, regulatory compliance, or disputes arise. You may need legal help to decide whether your company must appoint a statutory auditor, to structure or document an audit committee process, or to draft and negotiate engagement letters and independence safeguards with accountants and auditors. Lawyers are frequently retained to handle late filing issues, director liability exposure for incorrect or missing accounts, and challenges from creditors, shareholders, or the tax authority that rely on accounting information.

Legal support can also be critical during regulatory inspections or inquiries, such as anti-money laundering compliance checks for accounting service providers, oversight actions involving statutory auditors, or dawn raids and requests for information by competition, tax, or financial market authorities. Cross-border transactions, mergers, contributions in kind, and reorganizations often require comfort on valuation reports and special audit opinions, for which coordinated legal and audit input is needed. Non-profits, associations, and foundations in Hasselt may require advice on which accounting regime applies and when an auditor or supervisory body must be appointed. Finally, a lawyer can help manage disputes with auditors or accountants, confidentiality and data protection questions, and conflicts of interest or independence matters.

Local Laws Overview

Core company law obligations arise from the Belgian Code of Companies and Associations. Companies must keep proper books, prepare annual accounts under BE GAAP, approve them at the general meeting, and file them with the National Bank of Belgium within the statutory deadlines. The format of the annual accounts depends on size categories set in law. Smaller entities may use an abbreviated or micro format, while larger entities use a full format with more disclosures. Thresholds for size categories and audit requirements are defined in law and are periodically adjusted, so you should verify the current figures before deciding which regime applies.

Statutory audits are required for certain entities that exceed size thresholds, for public interest entities, and for specific situations prescribed by law. The statutory auditor must be a member of the Institute of Registered Auditors and is subject to strict independence and ethics rules. Audit reports must follow prescribed content and refer to Belgian ISA requirements. Where a group exists, consolidated accounts may be required. Listed groups apply IFRS for consolidated accounts, while individual statutory accounts generally remain under BE GAAP. Non-profits and foundations are subject to tailored accounting rules, with audit obligations for larger bodies.

Accounting standards and guidance are provided by the Belgian Accounting Standards Board. Filing takes place at the Central Balance Sheet Office of the National Bank of Belgium. Late or incorrect filings can trigger administrative fees, fines, and director liability. Persistent non-compliance can lead to actions before the Enterprise Court of Antwerp - Hasselt division, including potential dissolution proceedings in severe cases. Belgian tax law imposes record-keeping and retention duties, typically seven years for accounting and VAT documentation, with longer periods for certain capital goods under VAT rules.

Access to the accounting profession and tax advisory services is regulated by the Institute for Tax Advisors and Accountants. Accounting and tax service providers must comply with anti-money laundering obligations under federal law, including client due diligence and reporting of suspicious transactions. Statutory auditors are supervised by their professional institute and by public oversight authorities that monitor audit quality. In the Flemish Region, corporate filings and official publications are made in Dutch. Registration of businesses occurs through the Crossroads Bank for Enterprises, and companies must maintain up-to-date beneficial ownership information in the UBO register.

Recent European developments affect Belgian reporting. The Corporate Sustainability Reporting Directive is being phased in, expanding non-financial reporting obligations to more companies in staged timelines. Technical standards and sector-specific requirements are evolving, and businesses in Hasselt should check whether they fall within scope and how the reporting interacts with audit or assurance requirements. Because thresholds and detailed rules can change, it is prudent to verify the most current guidance before making decisions.

Frequently Asked Questions

Do I need a statutory audit for my Hasselt company

Statutory audits are mandatory if your company exceeds size thresholds set in the Code of Companies and Associations, if it is a public interest entity, or if a specific legal provision requires an audit. Many micro and small entities are exempt. Because thresholds can change and group relationships can affect the analysis, seek confirmation against the latest legal figures.

Which accounting standards apply in Belgium

Statutory annual accounts are prepared under BE GAAP using formats issued by royal decree and technical guidance from the Belgian Accounting Standards Board. Consolidated accounts of listed groups use IFRS. Non-listed groups may have options, but individual statutory accounts generally remain under BE GAAP.

Where and when do I file my annual accounts

Companies file approved annual accounts with the National Bank of Belgiums Central Balance Sheet Office. The general timetable is that the accounts must be approved within six months of the financial year end and filed shortly thereafter, within the filing deadline set by law. Verify the exact deadline that applies to your entity and format.

What happens if I file late or make errors

Late filings trigger administrative fees at the Central Balance Sheet Office. Serious or repeated breaches can result in fines, director liability, creditor claims, and in extreme cases court action. If you discover an error after filing, you can correct it through an adjusted filing. Legal advice can help manage exposure and communication with stakeholders.

Can my accountant also be my auditor

Independence rules restrict statutory auditors from performing incompatible services that could impair their objectivity. An external accountant who provides bookkeeping or certain advisory services to your company may not be able to act as the statutory auditor. Separate engagements and safeguards are used to manage conflicts in line with professional standards.

Do non-profits and associations in Hasselt have audit obligations

Associations and foundations follow specific accounting rules. Larger entities must keep double-entry books, file accounts, and may need to appoint a statutory auditor when thresholds are exceeded or when required by their legal form or funding conditions. Smaller associations may use simplified accounting without an audit requirement.

How long must I keep accounting records

Belgian law generally requires businesses to keep accounting and supporting documents for at least seven years for tax and VAT purposes. Certain VAT records for capital goods, especially real estate, may need to be retained longer due to adjustment periods. Electronic retention is permitted if integrity and accessibility are ensured.

In what language must I file in Hasselt

In the Flemish Region, corporate documents and registry filings are made in Dutch. Annual accounts filed with the National Bank of Belgium should be prepared in an official language accepted for the companys seat. For Hasselt-based entities, Dutch is the default.

Are there special reports for contributions in kind or restructurings

Yes. Belgian company law requires special audit or expert reports for certain transactions such as contributions in kind, mergers, demergers, and quasi-contributions. The scope and who can prepare the report depend on the transaction and the company form. Planning these steps early avoids delays at the Enterprise Court or notary level.

Does the Corporate Sustainability Reporting Directive affect my company

The CSRD is expanding sustainability reporting to more companies over phased-in years, with detailed European standards. If your company is large, listed, or part of a group that meets criteria, you may be in scope for sustainability reporting and possibly assurance on that reporting. Assess applicability early and coordinate with your accountant, auditor, and legal counsel.

Additional Resources

National Bank of Belgium - Central Balance Sheet Office, the destination for filing annual accounts and obtaining filing formats and fees information.

Belgian Accounting Standards Board, known as CBN in Dutch and CNC in French, which publishes accounting opinions and guidance relevant to BE GAAP.

Institute for Tax Advisors and Accountants, the professional body for accountants and tax advisors, including disciplinary rules and professional access requirements.

Institute of Registered Auditors, the professional body for statutory auditors, including ethics, independence rules, and audit standards.

Federal Public Service Economy, which oversees aspects of company law, bookkeeping regulations, and public oversight of the audit profession.

Federal Public Service Finance, the tax administration providing rules on record-keeping, VAT, and corporate tax compliance.

Crossroads Bank for Enterprises, the central registry for business identification and registration in Belgium.

Enterprise Court of Antwerp - Hasselt division, the local court with jurisdiction over many company law matters, including filings and certain disputes.

UBO Register, the national register in which companies and certain entities must record their ultimate beneficial owners.

Vlaamse overheid business portals and local enterprise support services in Limburg that provide practical guidance on starting and operating a business in the Flemish Region.

Next Steps

Start by identifying your company form, group structure, and size, because these factors determine accounting formats, audit requirements, and deadlines. Gather your latest trial balance, prior year annual accounts and reports, articles of association, shareholder and board minutes, and any agreements that affect recognition or measurement. Confirm your financial year end and calendar for approval and filing.

Consult an accredited accountant for bookkeeping and BE GAAP technical questions, and determine early whether an audit is mandatory. If an audit is required or if you are planning a restructuring that needs a special report, engage a statutory auditor in time for planning and interim procedures. If you face late filings, complex transactions, or potential liability exposure, contact a lawyer experienced in Belgian company law and auditing regulations to assess risks, manage communications with authorities, and structure remedial actions.

For companies that might be in scope of sustainability reporting, perform a gap analysis against the applicable standards and discuss assurance expectations with your auditor. Verify language and format requirements for all filings in Hasselt, and schedule internal deadlines that leave sufficient time before statutory cut-offs. Document your decisions and maintain evidence to support judgments in your accounts. When in doubt, obtain written guidance from your professional advisors so you can demonstrate good faith compliance.

This guide is informational and not legal advice. Because thresholds and technical rules change, always check the latest Belgian guidance or seek tailored advice before taking action.