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Klarencia

Is the budget forecast mandatory in co-ownership?

The syndic must prepare an annual budget forecast submitted for vote at the GA.

Pro Syndic
Voluntary Syndic
Co-owners
Federal rule — applies throughout Belgium

Yes, the Belgian Civil Code requires the syndic to prepare an annual budget forecast.

Content:

  • Running charges: maintenance, cleaning, insurance
  • Management fees: syndic fees, bank charges
  • Provisions for future works
  • Reserve fund allocation (min. 5% of ordinary charges)
Procedure:
  • Presented at the GA for approval by simple majority
  • If rejected, the syndic proposes a revised budget
  • Without a vote, the previous budget is provisionally rolled over
The budget forms the basis for calls for funds.

Klarencia automatically generates the budget forecast from charge history.

Legal references

Article 3.89 §5 Civil Code — Accounting and budgetary obligations

Klarencia automatically generates your budget forecast.

Related questions

Is PCMN accounting mandatory for all co-ownerships?

Whether PCMN standardised accounting is required depends on the size of the co-ownership.

Is the reserve fund mandatory in co-ownership?

Belgian law requires the establishment of a reserve fund for co-ownerships.

Disclaimer

The information provided is for informational purposes only and does not constitute legal advice. If in doubt, consult a qualified professional (solicitor, notary, accountant, or IPI-accredited professional syndic). Klarencia is a management tool and does not replace professional advice.

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