Accounting & financial advice

Unpaid invoices can seriously impact your company’s financial health. Effective accounts receivable management is key to maintaining healthy cash flow. Here are a few tips:

1. Use clear payment terms. For example, always include a specific due date on your invoices.
2. Automate wherever possible. Use accounting software to automate reminders and follow-ups.
3. Assess your customer risk and check the creditworthiness of new customers, especially for larger orders.
4. Require advance payments for larger projects to significantly reduce your risk.

If you make a large purchase, as a self-employed individual you must spread this cost over several years. Depreciation applies when:

• The purchase is a business asset (e.g., laptop, machine, furniture).
• The purchase price exceeds €250 (excluding VAT).
• The asset is used in your business over several years.

As a self-employed individual in Belgium, you are required to enroll in a social insurance fund. Through this fund, you pay social security contributions on a quarterly basis and build up social security coverage.

The amount of these contributions is based on your net taxable income and varies depending on your status:

• Self-employed as a primary occupation: you pay 20.5% in social security contributions on your net taxable income. In addition, you also pay administrative fees to the social insurance fund.
• Self-employed as a secondary occupation: you pay lower contributions, depending on your income.
• Start-ups: in the first few years, provisional (often lower) contributions apply, which are later adjusted based on your actual income.

Please note if you work with contractors or subcontractors!

As of January 1, 2026, you must verify whether contractors or subcontractors have outstanding debts with the social insurance fund. This applies only to companies that work for you in the real estate sector, provide security and/or surveillance services, or carry out certain activities in the meat sector. If the outstanding debt exceeds €2,500, you are required to:

• Withhold 15% of the invoice amount (excl. VAT).
• Transfer this amount directly to the social insurance fund.

This measure is intended to limit social fraud and non-payment. You can check whether a subcontractor has outstanding debts via the public application: Check inhoudingsplicht (only in Dutch, French en German).

As a business entity, you can rent out (part of) your home to your company. The company claims the rent as a business expense, while you receive rental income privately. Please note: this amount must remain within certain tax limits. If the rent is too high, it will be reclassified as wages.

As a self-employed individual, you can claim a portion of the costs based on actual business use (for example, the number of square meters used as an office). It is important that this use is demonstrable and reasonable. This includes, among other things, mortgage interest, utilities (gas, electricity, water), fire insurance, or property tax.

There are various tax incentives available, such as the innovation tax credit, copyright benefits, tax shelters, stock option plans, exemption from withholding tax, and investment tax credits.
Your account manager will work with you to determine which incentives you qualify for.

Yes, in Belgium, it is legally required to keep accurate accounting records. You must record all income and expenses, supported by the necessary documentation such as invoices and proofs of payment.

Double-entry accounting is required for:

• Companies (such as BV, NV, CV, …)
• Non-profit organizations exceeding certain turnover thresholds
• Self-employed individuals with an annual turnover exceeding €500,000 (excluding VAT)

Double-entry accounting requires you to keep not only records of income and expenses but also to maintain a balance sheet and a profit and loss account.