Choose the closing date of an accounting year

Verified 03 October 2024 - Directorate for Legal and Administrative Information (Prime Minister)

The closing date is usually free to choose. It is done at the time of registration of the company. We'll outline the rules for you.

General case

The choice of the end date of the accounting year is free. The company may decide to close its accounting period at any time during the year.

On the other hand, the exercise must last 12 months. In the first year, it may exceptionally be of a duration of less than or greater than 12 months,up to 24 months.

The date of 31 December is often used as the closing date of the accounting year because it coincides with the end of thecalendar year. A date ending a calendar quarter (March 31, June 30, September 30) is also often chosen for reasons of simplicity.

The choice of the closing date of the accounting year is important because it entails many other accounting and tax obligations: annual inventory, drawing up of social accounts within 6 months of closing, drawing up of tax books, etc.

Warning  

You cannot choose a variable date (for example, the first Monday of March).

Liberal profession in BNC

You are subject to the Non-Commercial Profit Scheme (NTB).

You are required to close your fiscal year at the December 31.

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