Key takeaways
- Simplified accounting is an option under article III.85 of the Code of Economic Law, not an absence of accounting.
- It is reserved for self-employed natural persons, organisations without legal personality, general partnerships (SNC) and limited partnerships.
- Turnover for the last financial year, excluding VAT, must not exceed 500,000 euros (620,000 euros for the retail sale of fuels).
- It rests on at least three journals: financial, purchases and sales.
Simplified accounting, an option for the smallest businesses
Not every Belgian business keeps the same level of accounting. The law provides a lighter regime, simplified accounting, for the smallest of them. This is not a tolerance or a loophole: it is an option framed by article III.85 of the Code of Economic Law, available subject to conditions on legal form and size.
The stake is concrete. Choosing the right regime means avoiding heavy double-entry bookkeeping when it is not required, but also knowing when your activity tips you into the full regime. The numeric test is simple: turnover for the last financial year, excluding VAT, that does not exceed 500,000 euros.
This article explains who can opt for simplified accounting, what the regime actually requires, and how it differs from double-entry accounting. For the mechanics of the full regime, see The general ledger and the trial balance explained.
Who can keep simplified accounting
Access to the regime depends first on legal form. According to the Belgian Accounting Standards Commission (CNC/CBN), the option to keep simplified accounting is reserved for natural persons carrying on an independent activity, organisations without legal personality (such as a société simple), general partnerships (SNC) and limited partnerships (SComm).
Private limited companies (SRL), cooperative companies (SC), public limited companies (SA) and the European forms (SE, SCE) are excluded: they keep full double-entry accounting, whatever their turnover. For these companies, legal form takes precedence over size.
| Simplified accounting allowed | Double-entry required | |
|---|---|---|
| Self-employed natural person | ||
| Société simple (no legal personality) | ||
| General partnership (SNC) | ||
| Limited partnership (SComm) | ||
| SRL, SC, SA, SE, SCE |
For the eligible forms, a second condition applies: turnover for the last financial year, excluding VAT, must not exceed 500,000 euros. This ceiling rises to 620,000 euros for businesses whose main activity is the retail sale of fuels for motor vehicles driven on public roads. These amounts are set by the Royal Decree of 21 October 2018. A business just starting out can choose the regime for its first financial year if its good-faith forecast stays below the threshold.
turnover threshold
excluding VAT, for the last financial year
fuel retail
raised ceiling for this activity
journals minimum
financial, purchases and sales
The three journals of simplified accounting
Article III.85 does not leave the form open. It requires at least three journals, structured to track transactions in detail, kept without delay, faithfully and completely, and in date order. Each journal has a precise purpose.
The three journals required by article III.85
The financial journal
Movements of cash and bank funds, the purpose of each transaction, withdrawals not made for the business, and daily cash balances.
The purchases journal
Purchases, imports and services received, with the amount, method and date of the related payments.
The sales journal
Sales, exports and services provided, with the amount, method and date of collections, plus in-kind withdrawals unrelated to the business.
In practice, the purchases journal and the sales journal correspond to the inward and outward invoice registers that every VAT-registered business already keeps. Payments and collections need not be repeated in those two journals when they already appear on the invoices or on supplier or customer account statements. For the detail of these registers, see The inward and outward invoice registers.
Simplified or double-entry accounting: what really changes
The difference between the two regimes is not about how seriously the books are kept, but about their structure. Double-entry accounting records each transaction as a debit and a credit across accounts, produces a general ledger and a trial balance, then leads to full annual accounts. Simplified accounting tracks flows in its three journals, without that set of balanced accounts.
| Simplified accounting | Double-entry accounting | |
|---|---|---|
| Kept through journals (financial, purchases, sales) | ||
| Balanced debit-and-credit set of accounts | ||
| General ledger and trial balance | ||
| Compliant invoicing and VAT obligations | ||
| Supporting documents and retention required |
The choice is not permanent. An eligible business that crosses the turnover threshold, or that changes legal form to become a capital company, moves to double-entry. Conversely, double-entry remains available at all times, even below the threshold: the level of detail you need to steer the business often settles the question, beyond the legal obligation alone.
Your obligations do not vanish with the simplified regime
Lightening the accounting does not waive the business's other obligations. You must still issue compliant invoices, carry the mandatory details, declare and pay VAT, and retain your supporting documents for the period set by law. On that last point, read How long to keep your invoices in Belgium.
One change adds to this base. Structured electronic invoicing becomes mandatory between VAT-registered businesses established in Belgium from 1 January 2026, regardless of accounting regime: a natural person on simplified accounting is covered just as much as a company on double-entry. The expected format is that of the Peppol network (Peppol BIS Billing 3.0, compliant with EN 16931).
Compliant invoicing, whatever your accounting regime
YouInv generates your compliant invoices, sends them over Peppol and centralises your purchases and sales, whether you keep simplified or full accounts.
In practice, invoicing software keeps your purchases and sales journals from the documents you enter or receive, and keeps each supporting document tied to its transaction. That is what makes simplified accounting genuinely simple: clean data in, an up-to-date view of your flows, and documents ready for your accountant or an audit.
Further reading
- The general ledger and the trial balance explained: the mechanics of double-entry accounting.
- The inward and outward invoice registers: the purchases and sales journals in Belgium.
- How long to keep your invoices in Belgium: the retention periods to observe.
The reference source prevails: the Belgian Accounting Standards Commission (CNC/CBN) publishes the opinions that frame business accounting in Belgium.
What is simplified accounting in Belgium?
Simplified accounting is a regime under article III.85 of the Code of Economic Law that lets certain very small businesses keep their books through at least three journals (financial, purchases, sales) instead of full double-entry accounting. It lightens the form, not the duty to document and retain every transaction.
Who can keep simplified accounting?
The regime is open to natural persons carrying on an independent activity, organisations without legal personality (such as a société simple), general partnerships (SNC) and limited partnerships (SComm), provided they stay below the turnover threshold. SRL, SC, SA, SE and SCE companies always keep double-entry accounting, whatever their turnover.
What is the turnover threshold for simplified accounting?
Turnover for the last financial year, excluding VAT, must not exceed 500,000 euros. The threshold rises to 620,000 euros for businesses whose main activity is the retail sale of motor fuels. The amounts are set by the Royal Decree of 21 October 2018.
Which journals must you keep under simplified accounting?
Article III.85 requires at least three journals, kept without delay, faithfully and completely, and in date order: a financial journal (cash and bank movements), a purchases journal (purchases, imports and services received) and a sales journal (sales, exports and services provided).
What is the difference between simplified and double-entry accounting?
Double-entry records each transaction as a debit and a credit across accounts, produces a general ledger and a trial balance, and leads to full annual accounts. Simplified accounting tracks flows in three journals without that set of balanced accounts. Invoicing, VAT and retention obligations are identical under both regimes.
