Large company: accounting obligations

Last modified:

Thursday 31 October 2019

What is the definition of a large company?

A company is labelled as ‘large’ as soon as it is listed on the stock exchange or exceeds 2 of the following criteria:

  • An annual workforce average of 50 full-time employees.
  • An annual turnover of 9,000,000 euros (excl. VAT)
  • A balance sheet total of 4,500,000 euros

The annual accounts of the last closed financial year determine whether your business falls under the ‘large company’ category.

And what if you have just started? At the start of your first financial year, the number of employees, the annual turnover and the balance sheet total of your company are estimated to determine its size.

What are your accounting obligations?

As a large company, you must maintain complete accounts according to the principles of double-entry bookkeeping. Moreover, you are obliged to prepare your annual accounts according to the full model and file them with the National Bank of Belgium (NBB). In addition, you must also draw up an annual report.

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