Royal Decree of 23 September 1992 on the Consolidated Accounts of Credit Institutions, Investment Firms, and Management Companies of Collective Investment Undertakings

Title

1992003571

23 SEPTEMBER 1992. - [Royal Decree on the consolidated accounts of credit institutions, investment firms, and management companies of collective investment undertakings] <AR 2006-09-01/49, art. 1, 005; In force: 01-01-2007> (NOTE: Consultation of versions prior to 01-12-1998 and updated as of 14-07-2025)

Source: Finances

Publication: 6 October 1992

Number: 1992003571

page: 21437

File number: 1992-09-23/31

Entry into force: 16 October 1992

Erratum: Publication of 29 December 1992, number 1992003738, page 27395, Errata

Erratum: Publication of 29 December 1992, number 1993003052, page 1377, Errata

8 archived versions

4 implementing decrees

CHAPTER I. - Scope and definitions.
Art. 1-2
CHAPTER II. - On consolidation by an (institution) that is a parent undertaking. <AR 2004-12-05/41, art. 4, 004; In force: 01-01-2006> Section I. - Scope.
Sub-section 1. - Principle.
Art. 3
Sub-section 2. - Exemptions.
Art. 4
(Section 2. - (Former sub-section 3) On the consolidation perimeter and consolidated accounts.) <AR 2004-12-05/41, art. 6, 004; In force: 01-01-2006> Art. 5-6, 6bis CHAPTER III- The consolidated management report, control and publication. <AR 2004-12-05/41, art. 10, 004; In force: 01-01-2006> Art. 7-18 (CHAPTER IV). - (former CHAPTER VIII) Final provisions. <AR 2004-12-05/41, art. 12, 004; In force: 01-01-2006> Art. 19-10 Annex. Art. N1

Text

CHAPTER I. - Scope and definitions.

Article 1.[1[2 The provisions of this decree apply:
1° to credit institutions referred to in Article 1, § 3, of the Law of 25 April 2014 on the status and supervision of credit institutions, with the exception of credit institutions referred to in Article 2 of that law; 2° to investment firms referred to in Article 3, § 1, of the Law of 25 October 2016 on access to the activity of providing investment services and on the status and supervision of portfolio management companies and investment advice companies, with the exception of institutions referred to in Article 4 of that law; 3° to management companies of collective investment undertakings referred to in Article 186 of the Law of 3 August 2012 on collective investment undertakings that meet the conditions of Directive 2009/65/EC and to securitization undertakings; 4° to management companies of alternative investment funds referred to in Article 10 of the Law of 19 April 2014 on alternative investment funds and their managers]2.]1 The undertakings to which this decree applies are hereinafter referred to as "(institutions)". <AR 2004-12-05/41, art. 2, 004; In force: 01-01-2006> ---------- (1)<AR 2017-02-25/03, art. 169, 008; In force: 27-03-2017> (2)<AR 2025-06-30/08, art. 6, 009; In force: 01-01-2025>

Art. 2. <AR 2004-12-05/41, art. 3, 004; In force: 01-01-2006> For the application of this decree, the definitions and criteria provided for in Articles 5 to 12 and 109 of the Companies Code apply, provided that any reference made to the consolidating company must be understood in the sense of consolidating institution.

CHAPTER II. - On consolidation by an (institution) that is a parent undertaking. <AR 2004-12-05/41, art. 4, 004; In force: 01-01-2006>

Section I. - Scope.

Sub-section 1. - Principle.

Art. 3.Without prejudice to Article 4, any (institution) referred to in Article 1 that is a parent undertaking is required to prepare consolidated accounts and a consolidated management report if, alone or jointly, it controls one or more subsidiaries under Belgian law or foreign law. <AR 2004-12-05/41, art. 4, 004; In force: 01-01-2006> [1 An institution referred to in the first paragraph, the subsidiaries of which present, both individually and collectively, a negligible interest in providing a true and fair view of the assets, financial situation and results of all undertakings included in the consolidation, is exempt from the obligation imposed in the first paragraph.]1 The consolidated accounts and the consolidated management report are prepared by the administrative body of the (institution) referred to in Article 1. <AR 2004-12-05/41, art. 4, 004; In force: 01-01-2006> ---------- (1)<AR 2012-07-01/10, art. 2, 006; In force: 01-01-2011>

Sub-section 2. - Exemptions.

Art. 4. <AR 2004-12-05/41, art. 5, 004; In force: 01-01-2006> Subject to the following paragraph of this Article, the provisions of Articles 113, 114 and 115 of the Companies Code apply to the consolidated accounts of institutions. In addition to the conditions provided for in Article 113, § 2, of the Companies Code, the parent undertaking must be an institution that has declared itself guarantor of the commitments taken by the exempted institution and this guarantee is declared as such in the annual accounts of the latter.

(Section 2. - (Former sub-section 3) On the consolidation perimeter and consolidated accounts.) <AR 2004-12-05/41, art. 6, 004; In force: 01-01-2006>

Art. 5. <AR 2004-12-05/41, art. 7, 004; In force: 01-01-2006> In application of Article 5 of European Regulation of 19 July 2002 on the application of international accounting standards, said Regulation as well as the European regulations taken in execution of Article 3, § 4, of the aforementioned Regulation, apply to the determination of the consolidation perimeter and to the preparation of consolidated accounts.

Art. 6. <AR 2004-12-05/41, art. 8, 004; In force: 01-01-2006> Subject to the following paragraph, the provisions of Articles 111 and 117, § 2, of the Companies Code apply to the consolidated accounts of institutions. The preparation of consolidated accounts encompassing the undertakings forming the consortium and their subsidiaries according to the legislation and in the currency of the country of a foreign enterprise, member of the consortium, in application of the second paragraph of said Article 117, is only admitted if furthermore this foreign enterprise is an institution that, by virtue of the legislation of the country where it has its seat, is required, for the purpose of supervision of institutions by the authorities of that country, to prepare consolidated accounts covering the consortium.

Art. 6bis.[1 The notes to the consolidated accounts include, in addition to the mentions prescribed by the international accounting standards adopted and as far as they are not required by said standards, the following information, for the financial year ended, breaking down this information by Member State and by third country in which they are established:
A. Their name(s), the nature of their activities and their geographical location (country concerned); B. their turnover;
C. their number of employees on a full-time equivalent basis;
D. their profit (loss) before tax;
E. income taxes;
F. public subsidies received.
For the application of this provision, the countries for which information must be given are those in which the institution is established directly or indirectly through the entities that are included in the consolidation perimeter as defined in Article 5 of this decree. Institutions indicate, following the aforementioned data, the definitions retained for their calculation. These definitions must be consistent with the consolidated accounts of the institution. [1[2 This provision is applicable to credit institutions under Belgian law referred to in Article 1, § 3 of the Law of 25 April 2014 on the status and supervision of credit institutions, with the exception of institutions referred to in Article 2 of that law, to Belgian stock exchange companies referred to in Article 2 of the Law of 20 July 2022 on the status and supervision of stock exchange companies, and to portfolio management and investment advice companies referred to in Article 6, § 1, 2° of the Law of 25 October 2016 on access to the activity of providing investment services and on the status and supervision of portfolio management companies and investment advice companies, with the exception of small non-interconnected portfolio management and investment advice companies referred to in Article 2, 80° of that law]2.]1 ---------- (1)<Inserted by AR 2014-11-27/01, art. 3, 007; In force: 31-12-2014> (2)<AR 2025-06-30/08, art. 7, 009; In force: 01-01-2025>

CHAPTER III- The consolidated management report, control and publication. <AR 2004-12-05/41, art. 10, 004; In force: 01-01-2006>

Art. 7. <AR 2004-12-05/41, art. 10, 004; In force: 01-01-2006> The provisions of Article 119 of the Companies Code apply to the consolidated accounts of institutions.

Art. 8. <AR 2004-12-05/41, art. 10, 004; In force: 01-01-2006> The provisions of Articles 146 to 148 of the Companies Code apply to the consolidated accounts of institutions.

Art. 9. <AR 2004-12-05/41, art. 10, 004; In force: 01-01-2006> The provisions of Articles 120 and 121 of the Companies Code apply to the consolidated accounts of institutions.

Art. 10. (Repealed) <AR 2004-12-05/41, art. 11, 004; In force: 01-01-2006>

Art. 11. (Repealed) <AR 2004-12-05/41, art. 11, 004; In force: 01-01-2006>

Art. 12. (Repealed) <AR 2004-12-05/41, art. 11, 004; In force: 01-01-2006>

Art. 13. (Repealed) <AR 2004-12-05/41, art. 11, 004; In force: 01-01-2006>m. <Abrogé par AR 2004-12-05/41, art. 9, 004; In force: 01-01-2006>

Art. 14. (Repealed) <AR 2004-12-05/41, art. 11, 004; In force: 01-01-2006>

Art. 15. (Repealed) <AR 2004-12-05/41, art. 11, 004; In force: 01-01-2006>

Art. 16. (Repealed) <AR 2004-12-05/41, art. 11, 004; In force: 01-01-2006>

Art. 17. (Repealed) <AR 2004-12-05/41, art. 11, 004; In force: 01-01-2006>

Art. 18. (Repealed) <AR 2004-12-05/41, art. 11, 004; In force: 01-01-2006>

(CHAPTER IV). - (former CHAPTER VIII) Final provisions. <AR 2004-12-05/41, art. 12, 004; In force: 01-01-2006>

Art. 19. (Repealed) <AR 2004-12-05/41, art. 11, 004; In force: 01-01-2006>

Art. 10. (former art. 20) Our Minister of Finances is charged with the execution of this decree. <AR 2004-12-05/41, art. 12, 004; In force: 01-01-2006>

Annex.

Art. N1. (Repealed) <AR 2004-12-05/41, art. 11, 004; In force: 01-01-2006>

Preamble

Viewed the Law of 30 June 1975 on the status of banks, private savings banks and certain other financial intermediaries, notably Article 73, modified by the Law of 1 July 1983; Viewed Directive 86/635/EEC of 8 December 1986 of the Council of the European Communities concerning the annual accounts and consolidated accounts of banks and other financial institutions; Viewed the conforming opinion of the Banking and Financial Commission; Viewed the consultation of the Belgian Banks Association and the Belgian Savings Banks Grouping; Viewed the opinion of the Council of State; On the proposal of Our Minister of Finances,

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