Glenn Baeke

The alarm bell procedure is a statutory obligation requiring directors to intervene when the financial situation of their company deteriorates significantly. But what is the alarm bell procedure exactly? When must it be initiated? And does it apply in the same way to every type of company? Under the Belgian Code of Companies and Associations (CCA), the application differs depending on the type of company. Below we explain how to proceed in a legally correct manner.

Since October 2018, the UBO register has collected data from Belgian companies and other legal entities as part of the fight against money laundering, tax fraud and the financing of terrorism. This means that as a company or association, you also need to pay attention to who the ultimate beneficial owner (UBO) is.

But let’s be honest, for many entrepreneurs and non-profit organisations, this remains quite an administrative challenge.

You’re running a company. Business is going well, customers are happy and the numbers are looking good. But what about your legal foundations? Are they watertight? Many company directors assume everything is automatically sorted once the business is established. But running a company involves much more than a registration in the CBE or issuing a VAT number. Behind the scenes, there are a number of legal obligations and risks that a director or shareholder should take into account.