Creating a company involves a series of several steps involving different parties. To help you navigate this process, BILLY supports you throughout the creation and advises you during each phase.
How long does it take to create a company? The average time to create a company is 20 working days. This is the time between the decision to launch and obtaining the CBE number. This timeframe can vary significantly from one creation to another. It mainly depends on you, your bank, and the notary.
How much does BILLY's support for company creation cost? The price is €500 excl. VAT (2025 rate). This does not include the cost of the notary or registration with the Crossroads Bank for Enterprises (CBE).
Business account
Business account
ℹ️ Responsible for this step: it's you 😇
Account creation
Contact your bank specifying that you are setting up a PLC. This process can be initiated online with most banks.
⚠️ The account must be opened in the name of your company (and not in your own name) and in a Belgian bank.
In the case of transitioning to a company, some banks may offer to keep the same business account as that of the sole proprietorship. You must open a new specific business account for the company to clearly separate the two activities.
Finally, your new bank account is inaccessible until your company is established. You can only fund it.
Deposit of funds
Following the analysis with your BILLY creation advisor, the amount of the company's equity is defined. This is the amount that must be deposited into the blocked account.
⚠️ There is no minimum contribution required for equity.
To cover the initial expenses of the company (mainly creation costs), we recommend paying with the private account. The invoices related to these expenses will be included in your company's future accounting. The amount will be reimbursed to you as soon as it has available funds.
Receipt of the bank certificate
Once the money is deposited, you receive a bank certificate which will be requested by the notary. The bank also usually sends this certificate directly to the notary's address.
⚠️ It may happen that the bank does not validate the creation of the account or does not send the bank certificate without having received the draft deed of incorporation from the notary and the financial plan.
Financial plan
Financial plan
ℹ️ Responsible for this step: it's BILLY 🅱️
The financial plan is a document projecting the figures of the activity. It includes at least three parts:
Income statement: revenues, expenses, and result of the activity
Balance sheet: snapshot of what the company owns and owes at the end of the year
Cash flow statement: details of cash movements from the activity, investments, or financing
Your advisor will validate the financial information with you 👌🏻 A financial plan is primarily a guideline. Don't worry if reality doesn't perfectly align with the forecasts.
In the context of transitioning to a company, BILLY takes into account your sole proprietorship accounting as well as the analysis of your accountant (executive compensation, vehicle buyback, revenue growth, etc.).
Why create a financial plan? It is a legal requirement to create a company. The goal is to demonstrate the financial feasibility of the project. The company must prove that it will be balanced over a minimum period of two years.
Notary
Notary
ℹ️ Step responsible: it's BILLY 🅱️ with your collaboration 😇
Once the financial plan is completed and approved, it is sent to the notary.
It is accompanied by a series of information that the notary will need to draft the incorporation deed and write the articles of association:
Name: check with the CBE to see if this name already exists.
Registered office: choose a permanent registered office because if you change it, you will have to pay publication fees to the Belgian monitor.
Equityandnumber of shares: in most cases, value the 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 position will be paid or not.
Corporate purpose: broaden the scope of activities allowed for your company as much as possible. This avoids having to pay notary fees for any future changes (e.g., real estate investment). ⚠️ Note that the corporate purpose is not the same as the NACE codes listed in the CBE.
Fiscal year: choose a standard fiscal year, from January 1 to December 31.
Duration of the 1st fiscal year: the first fiscal year is rarely a 12-month period. It is either longer or shorter. Example: I create my company on July 1, 2025, I can choose to close the first fiscal year on December 31, 2025, or December 31, 2026.
Date of the general meeting: this is of little importance for a company with a single shareholder. It must take place within 6 months following the end of the fiscal year. It is generally recommended to hold it on the second Thursday of June at 6 p.m.
Date of assumption of commitments: this date determines from when the company assumes the commitments made in its name. This can include income, expenses, a signed contract, etc. Learn more about the assumption of commitments.
Draft deed
Draft deed
ℹ️ Step responsible: it's BILLY 🅱️ with your collaboration 😇
It is crucial to thoroughly check all private information concerning you and validate the content of the corporate purpose.
I am subject to a professional order, do I need to submit my articles for approval? Yes, but only if you are a lawyer or architect. This step can significantly extend the timelines. In practice, the notary is responsible for sending the draft articles to the relevant order. Do not hesitate to contact your order directly to expedite the approval.
In what language are my articles written? The notary will choose the official language of the region of the registered office: Dutch if the registered office is in Flanders, French if it is in Wallonia. However, it is possible to have articles in two languages, which incurs additional costs.
Signature
Signature
ℹ️ Step responsible: it's you 😇
Once the various steps are validated, the notary proposes a date for signing: either electronically or remotely.
The incorporation fees must be paid before the signing into the notary's account. These fees include registration duties, publication fees to the Belgian monitor, disbursements, as well as the notary's fees and other miscellaneous costs. 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 at the lowest on the market.
The company is published in the Belgian monitor between 24 and 48 hours after the signing of the deeds, which means obtaining your new company number (CBE). You receive a certificate of incorporation, to be sent to your bank to unlock your bank account.
Company registrations
Company registrations
ℹ️ Step responsible: it's BILLY 🅱️
BILLY is authorized to carry out the following tasks:
Register the company with the CBE: registration with the Crossroads Bank for Enterprises is done through a business counter. The cost is €105.5 excl. VAT (year 2024).
Affiliate it with a social insurance fund
Register it for VAT: if you are subject to VAT.
You continue to pay your social contributions to the same fund as an independent, but the company can be affiliated with a different social insurance fund.
Closure of individual business [if transitioning to a company]
Closure of individual business [if transitioning to a company]
ℹ️ Step responsible: it's BILLY 🅱️ and you 😇
Your business as a company is launched! Except in exceptional cases, you will therefore stop the individual business activity:
Deregister your CBE number: ⚠️ you must contact your business counter to close your individual business number
Cancel your VAT number: BILLY is responsible for completing form 604C to stop the VAT liability of your individual business
Close your bank account: simply contact your bank. If amounts are received after the creation of your company, make sure to transfer these amounts to your new account (of the company).
BILLY is with you every step of the way thanks to our team of creation experts. We do everything we can to get it created as quickly as possible. Feel free to ask your questions via chat 😊
See you soon and... let's go 🚀