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 is 20 working days. That's the time between the decision to launch and receiving your CBE number. This timeframe varies greatly from one case to another, and depends mainly on you, your bank and the notary.
How much does BILLY charge for company setup support? The fee 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 Who handles this step: that's you 😇
Opening the account
Contact your bank and let them know you are incorporating a PLC. This can be done online at most banks.
⚠️ The account must be opened in your company's name (not your personal name) and at a Belgian bank.
If you are transitioning from a sole proprietorship, some banks may offer to keep the same professional account you used as a self-employed individual. You must open a new, separate business account specifically for the company in order to clearly separate the two activities.
Finally, your new bank account will remain inaccessible until your company has been incorporated. You can only deposit funds into it in the meantime.
Depositing funds
Following the analysis with your BILLY setup advisor, the amount of the company's equity is determined. This is the amount that must be deposited into the blocked account.
⚠️ There is no minimum contribution required for equity.
To cover the company's initial costs (mainly setup costs), we recommend paying from 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 as soon as the company has available funds.
Receiving the bank certificate
Once the funds have been deposited, you will 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 will not validate the account opening or issue the bank certificate without first receiving the draft deed of incorporation from the notary and the financial plan.
Financial plan
Financial plan
ℹ️ Who handles this step: that's BILLY 🅱️
The financial plan is a document projecting the financial figures of the business. It includes at least three sections:
Income statement: revenue, expenses and the result of the activity
Balance sheet: a snapshot of what the company owns and owes at the end of the year
Cash flow statement: a detailed breakdown of cash movements from operations, investments or financing
Your advisor will review the figures with you 👌🏻 A financial plan is above all a set of guidelines. No need to panic if reality doesn't perfectly match the projections.
In the case of a transition from sole proprietorship, BILLY takes into account your accounts as a self-employed individual as well as your accountant's analysis (executive's compensation, purchase of a vehicle, turnover trends, etc.).
Why prepare a financial plan? It is a legal requirement for setting up a company. The purpose is to demonstrate the financial viability of the project. The company must prove that it will break even over a minimum period of two years.
Notary
Notary
ℹ️ Who handles this step: that's BILLY 🅱️ with your input 😇
Once the financial plan is complete and approved, it is sent to the notary.
It is accompanied by a set of information the notary will need to draw up the draft deed of incorporation and draft the articles of association:
Company name: check on the CBE whether the name already exists or not.
Head office: choose a long-term head office address, as any change would require you to pay publication fees in the Belgian Official Gazette.
Equity and number of shares: in most cases, set the share value at a symbolic €1.
Shareholders: if there are multiple shareholders, specify how the shares are divided.
Directors: specify who will act as director and whether this mandate will be remunerated or not.
Corporate purpose: broaden the scope of permitted activities for your company as much as possible. This avoids having to pay notary fees again for any future amendments (e.g. real estate investment). ⚠️ Note that the corporate purpose is not the same as the NACE codes listed 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 exactly 12 months — it may be 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 31 December 2026.
General meeting date: this is of little importance for a single-shareholder company. It must take place within 6 months of the end 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 revenue, expenses, a signed contract, etc. Learn more about the commitment takeover.
Draft deed
Draft deed
ℹ️ Who handles this step: that's BILLY 🅱️ with your input 😇
It is essential to carefully check all your personal details and approve 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 an architect. This step can significantly extend the timeline. In practice, the notary takes care of sending the draft articles to the relevant professional body. Don't hesitate to contact your professional body directly to speed up the approval process.
In what language are my articles of association drafted? The notary will use the official language of the region where the head 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 involves additional costs.
Signature
Signature
ℹ️ Who handles 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 transferred 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 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 rate 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 deed, which means you receive your new company number (CBE). You will also receive a certificate of incorporation, which you need to send to your bank to unblock your bank account.
Company registrations
Company registrations
ℹ️ Who handles this step: that's BILLY 🅱️
BILLY acts as your representative 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 purposes: if you are subject to VAT.
You continue to pay your social contributions to the same fund as when you were self-employed, but the company may be affiliated with a different social insurance fund.
Closing your sole proprietorship [if transitioning to a company]
Closing your sole proprietorship [if transitioning to a company]
ℹ️ Who handles this step: that's BILLY 🅱️ and you 😇
Your company is up and running! Unless there are exceptional circumstances, you will stop your activity as a sole proprietorship:
Deregister your CBE number: ⚠️ you must contact your accredited business counter to close your company number as a sole proprietor
Cancel your VAT number: BILLY takes care of completing form 604C to end your VAT liability as a sole proprietor
Close your bank account: simply contact your bank. If any amounts are received after your company has been set up, make sure to transfer them to your new (company) account.
BILLY supports you at every step thanks to our team of setup experts. We do everything we can to get your company up and running as quickly as possible. Feel free to ask your questions via the chat at any time 😊
See you soon and... let's go 🚀