Financial transparency

The draft law aimed to transpose the European directive on the publication of sustainability information by companies (CSRD) obliges certain Belgian branches opened by non-European companies to publish the European net turnover of their non-European company if they meet the following conditions:

• they have been set up either by an autonomous non-European enterprise which has no subsidiaries, or by a non-European ultimate parent enterprise which has subsidiaries, or by a non-European subsidiary enterprise which is part of a non-European ultimate parent enterprise group.

• they have at the balance sheet date, achieved a turnover of more than 40 million euros during the financial year just ended [150 million euros on an individual basis within the Union for branches of autonomous non-European enterprise].

They must disclose their turnover in Belgium and in the European Union, calculated at the end of the financial year.

For ultimate parent companies, this figure is calculated on a consolidated basis.