3 guides on the topic “Liquidation”: legal obligations, concrete procedures, costs and deadlines.
Liquidation ends the life of a business by settling its debts and sharing out what remains. It follows a voluntary dissolution, a court decision or a bankruptcy. These guides help directors, partners and non-profit boards close their structure properly.
Dissolution decides that the company will end. Liquidation then organises that ending, asset by asset and debt by debt. During this phase, the company keeps its legal personality, but only to wind up its affairs. Its documents must then state that it is “in liquidation”.
In an SRL or SA, the general meeting votes the dissolution before a notary. It appoints one or more liquidators, whom the president of the enterprise court must confirm. If the company has no debts left, dissolution and liquidation in a single deed remain possible under conditions. Our guide to dissolution and liquidation details each step.
The liquidator takes over from the directors until closure. The task follows a logical order.
The balance paid to shareholders, the liquidation surplus, normally bears withholding tax. An accountant therefore helps prepare that moment, especially if the company has built up a liquidation reserve.
Bankruptcy remains a closure imposed by the court. It affects a business that has persistently stopped paying and whose credit has collapsed. The manager must then file for bankruptcy within one month of the cessation of payments. A trustee then sells the assets under the court's supervision.
Before it comes to that, judicial reorganisation can offer a way out. Our guide to bankruptcy explains the procedure and its consequences for managers.
Non-profits follow a similar path. A non-profit dissolves by a decision of its general meeting, then settles its accounts in the same way. The main difference lies in the remaining assets. They normally go to a disinterested purpose, never to the members. Our guide to dissolving a non-profit details that procedure.
A well-prepared closure protects partners and creditors alike. You can check closure publications on the FPS Justice eJustice website.
25 January 2026
A voluntary liquidation closes a solvent Belgian company properly. Decision before a notary, the liquidator, paying creditors, the final surplus and closure: here is the full route for an SRL or SA.
25 January 2026
Bankruptcy proceedings apply to a business that has stopped paying its debts for good and lost its creditworthiness. Filing, the trustee's role, creditors and debt discharge: here is how it works in Belgium.
1 March 2026
ASBL dissolution follows rules of its own, distinct from company law practice. Members' vote, liquidator, debts, allocation of remaining assets and publications: here is the complete procedure.
