When should the financial year be closed?

The closing must take place before the annual general assembly.

Pro Syndic

Voluntary Syndic

Federal rule — applies throughout Belgium

The co-ownership’s financial year follows precise rules.

Period: Usually a calendar year (January to December), unless the statutes provide otherwise.

Closing operations:

Final bank reconciliation
Recording all invoices and payments
Calculating accrued charges and receivables
Individual statements per co-owner
Balance sheet and income statement
Reserve fund allocation

Klarencia automates the year-end and generates all documents in one click.

Legal references

Article 3.89 §5 Civil Code — Accounting obligations Article 3.87 §1 Civil Code — Annual GA

Klarencia automates your accounting year-end.

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 budget forecast mandatory in co-ownership?

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

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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