filing and consulting annual accounts in belgium dirk tuymans - national bank of belgium

FILING AND CONSULTING ANNUAL ACCOUNTSIN BELGIUM

Dirk Tuymans - National Bank of Belgium

FILING OF ANNUAL ACCOUNTSVIA THE INTERNET IN BELGIUM

• Filing of annual accounts before 2004– very high degree of standardisation:

98% of all enterprises use a standard model– several software vendors offering offline software

for drawing up annual accounts– low filing charges for annual accounts on diskette

(as opposed to annual accounts on paper)– modernisation of the Belgian Companies Register

in 2003=> strong incentives to start up a project to file

annual accounts via the Internet


• January 2004– enterprises started to file annual accounts over the

Internet– serious limitations:

• only during office hours• only digital certificates issued by the NBB• only structured data files in the form of a text

file (specific NBB format)• only bank cards accepted as payment method

– in close cooperation with• accounting institutes and software vendors• legislator and federal government


Phase 1: IntroductionInternet = max. 15%

FILING VIA THE INTERNET:CBSO IN MOTION

• By June 2006:– extension of opening hours– use of additional digital certificates, already used

for other e-government applications• the authentication certificate found on the

electronic identity card of Belgian citizens• a qualified certificate from three commercial

certificate authorities– introduction of new methods of payment

• bank transfer• credit card


Phase 2: GrowthInternet = max. 30%


• "Turning point" April 2007:– abolition of filing on diskette– introduction of the XBRL format for enterprises

• 300,000 entities involved• free online software "Sofista" for drawing up

annual accounts• real administrative simplification for enterprises: net savings of 17.3m EUR(23% of all filing charges) in 2008

– introduction of the PDF format for enterprises and NPOs, as provided for in the First EU Directive


Phase 3: MaturityInternet = min. 85%


• April 2008:– open 24/7/365 (except on Sunday mornings - maintenance)– additional use of the certificate on the EID for

760,000 foreigners residing in Belgium– introduction of the XBRL format for NPOs

• 7,000 entities involved• extension of the free online software "Sofista"• real administrative simplification for NPOs:

net savings of 0.5m EUR (45% of all filing charges) in 2008


• March 2009:– limitation of filing on paper to enterprises with a

turnover of < 500,000 EUR, NPOs and foreign companies, as provided for in the First EU Company Law Directive


At presentInternet = 96.8% (92.8% XBRL and 4.0% PDF)Paper = 3.2%

CONSULTING ANNUAL ACCOUNTSVIA THE INTERNET IN BELGIUM• Online consultation started in November 2001

– 24/7/365• Limitations:

– access restricted to registered clients(login + password)

– subscription fee– only current calendar year + last 3 calendar years– only in the form of a PDF file

CONSULTING ANNUAL ACCOUNTSVIA THE INTERNET IN BELGIUM

Phase 1: IntroductionInternet = max. 30,000 downloads

CONSULTING VIA THE INTERNET:CBSO IN MOTION

• As from February 2008:– no access restrictions– free of charge– current calendar year + last 5 calendar years– note: 2/3 of the downloaded annual accounts

concern SMEs (also during the financial crisis - end of 2008)

– www.nbb.be > Central Balance Sheet Office> Consulting annual accounts > Application

CONSULTING ANNUAL ACCOUNTS VIA THE INTERNET IN BELGIUM

Phase 2: GrowthInternet = max. 300,000 downloads/month

CONSULTING VIA THE INTERNET:CBSO IN MOTION

• Future (end of 2009):– all annual accounts filed in the form of an XBRL file

will be available in this format in the same online application (free of charge)

– note: all XBRL files are already available via Webservices (paying application);target group: major data vendors

filing and consulting annual accounts in belgium dirk tuymans - national bank of belgium

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