Setting up a company involves several steps with different parties. To help you navigate the process, BILLY supports you throughout the entire setup and advises you at every stage.
How long does it take to set up a company? The average time to set up a company is 20 working days. This is the time between the decision to launch and obtaining the CBE number. This timeframe varies greatly from one setup to another. It mainly depends on you, your bank, and the notary.
How much does BILLY's support for setting up a company cost? The price is €500 excl. VAT (2025 rate). This does not include the notary's fees or registration with the Crossroads Bank for Enterprises (CBE).
Business account
Business account
ℹ️ Responsible for this step: that's you 😇
Opening the account
Contact your bank and specify that you are incorporating a PLC. This process can be initiated online at most banks.
⚠️ The account must be opened in the name of your company (not in your own name) and at a Belgian bank.
In the case of a transition to a company, some banks may offer to keep the same professional account as the one used for your sole proprietorship activity. You must open a new dedicated professional account for the company in order to clearly separate the two activities.
Finally, your new bank account is inaccessible until your company has been incorporated. You can only deposit funds into it.
Depositing funds
Following the analysis with your BILLY setup advisor, the amount of the company's equity is defined. This is the amount that must be transferred to the blocked account.
⚠️ There is no minimum contribution required for equity.
In order to cover the company's initial costs (mainly setup costs), we recommend paying with your personal account. The invoices related to these expenses will be included in your company's future accounts. The amount will be reimbursed to you once the company has available funds.
Receiving the bank certificate
Once the money has been deposited, you receive a bank certificate that will be requested by the notary. The bank also typically sends this certificate directly to the notary's address.
⚠️ It sometimes happens that the bank does not validate the account opening or does not send the bank certificate without first receiving the draft deed of incorporation from the notary and the financial plan.
Financial plan
Financial plan
ℹ️ Responsible for this step: that's BILLY 🅱️
The financial plan is a document projecting the figures for the business. It includes at least three sections:
Income statement: revenues, expenses and the result of the activity
Balance sheet: a snapshot of what the company holds and owes at the end of the year
Cash flow statement: details of cash movements from operations, investments or financing
Your advisor will validate the figures with you 👌🏻 A financial plan is above all a guideline. Don't panic if reality doesn't align perfectly with the projections.
In the case of a transition to a company, BILLY takes into account your sole proprietorship accounts as well as your accountant's analysis (executive's compensation, purchase of a vehicle, revenue growth, etc.).
Why produce a financial plan? It is a legal requirement for setting up a company. The objective is to demonstrate the financial viability of the project. The company must prove that it will be financially balanced over a minimum period of two years.
Notary
Notary
ℹ️ Responsible for this step: that's BILLY 🅱️ with your input 😇
Once the financial plan is completed and validated, it is sent to the notary.
It is accompanied by a series of details that the notary will need to draft the deed of incorporation and draw up the articles of association:
Company name: check on the CBE whether this name already exists or not.
Head office: choose a permanent registered address, as any change would require you to pay publication fees in the Belgian Official Gazette.
Equity and number of shares: in most cases, value each share at a symbolic €1.
Shareholders: if there are multiple shareholders, specify the distribution of shares.
Directors: specify who will be a director and whether this mandate will be remunerated or not.
Corporate purpose: broaden the scope of authorised activities for your company as much as possible. This avoids having to pay notary fees again for any subsequent amendment (e.g. property investment). ⚠️ Please note that the corporate purpose is not the same as the NACE codes registered with the CBE.
Financial year: choose a standard financial year, i.e. from 1 January to 31 December.
Duration of the 1st financial year: the first financial year is rarely a full 12-month year. It is either longer or shorter. Example: if I incorporate my company on 1 July 2025, I can choose to close the first financial year on 31 December 2025 or on 31 December 2026.
Date of the general meeting: this is of little importance for a single-shareholder company. It must take place within 6 months following the close of the financial year. We generally recommend the 2nd Thursday of June at 6 p.m.
Commitment takeover date: this date determines from when the company takes over commitments made in its name. These may include revenues, expenses, a signed contract, etc. Learn more about commitment takeover.
Draft deed
Draft deed
ℹ️ Responsible for this step: that's BILLY 🅱️ with your input 😇
It is essential to carefully check all your personal details and validate the content of the corporate purpose.
I am subject to a professional body — do I need to submit my articles of association for approval? Yes, but only if you are a lawyer or architect. This step can significantly extend the timeframe. In practice, the notary takes care of sending the draft articles to the relevant professional body. Do not hesitate to contact your professional body directly to speed up the validation process.
In what language are my articles of association drafted? The notary will use the official language of the region where the registered office is located: Dutch if the head office is in Flanders, French if it is in Wallonia. However, it is possible to have the articles drafted in two languages, which incurs additional costs.
Signing
Signing
ℹ️ Responsible for this step: that's you 😇
Once the various steps have been validated, the notary proposes a date for signing: either electronically or remotely.
The incorporation fees must be paid to the notary's account before signing. These fees include registration duties, publication fees in the Belgian Official Gazette, disbursements, as well as the notary's fees and other miscellaneous charges. These fees range between €1,150 and €1,600 excl. VAT depending on the notary (2025 rate).
💡 If you choose BILLY's partner notary, you benefit from a negotiated price that is among the lowest on the market.
The company is published in the Belgian Official Gazette within 24 to 48 hours after signing the deeds, which means you will receive your new company number (CBE). You will receive a certificate of incorporation, which you must send to your bank to unblock your bank account.
Company registrations
Company registrations
ℹ️ Responsible for this step: that's BILLY 🅱️
BILLY acts as your agent to carry out the following tasks:
Register the company with the CBE: registration with the Crossroads Bank for Enterprises is done through an accredited business counter. The cost is €111.50 excl. VAT (2026 rate).
Affiliate it with a social insurance fund
Register it for VAT: if you are subject to VAT.
You continue to pay your social security contributions to the same fund as when you were self-employed, but the company may be affiliated with a different social insurance fund.
Closing the sole proprietorship [if transitioning to a company]
Closing the sole proprietorship [if transitioning to a company]
ℹ️ Responsible for this step: that's BILLY 🅱️ and you 😇
Your company activity is up and running! Except in exceptional circumstances, you will therefore be stopping your sole proprietorship activity:
Deregister your CBE number: ⚠️ you must contact your accredited business counter to close your sole proprietorship company number
Cancel your VAT number: BILLY takes care of completing form 604C to stop the VAT liability of your sole proprietorship
Close your bank account: simply contact your bank. If any amounts are received after your company has been set up, make sure to transfer these amounts to your new (company) account.
BILLY supports you at every step thanks to our team of incorporation experts. We put everything in place to ensure your company is set up as quickly as possible. Feel free to ask your questions at any time via the chat 😊
See you soon and... let's go 🚀