All European member states had until July 6 to transpose the European legislation on sustainability reporting (CSRD) into national legislation. Belgium did not meet this deadline, so as of today there is no complete overview of what this sustainability reporting will look like in Belgium. However, the possibilities to deviate from the European legislation on a national level are rather limited, so the European legislation already ensures that you can get started with the format of sustainability reporting.
Should my company prepare a sustainability report?
Large companies (at the consolidation level) will be required to publish a sustainability report in addition to their financial reporting starting in 2026. The first report to provide insight into the various sustainability pillars will cover activities that took place in 2025.
The European Commission defines large companies as any company that exceeds at least two of the following three criteria for two consecutive years:
- > EUR 50 million in sales
- > EUR 25 million balance sheet total
- > 250 employees
Does this delay mean that legislation around sustainability reporting may not be forthcoming?
That Belgium missed the July 6 deadline does not change the fact that legislation around sustainability reporting is there unavoidable coming. Perhaps the transposition law will be voted on in the fall of 2024, by which time all Belgian business owners will have a full understanding of the expectations of sustainability reporting legislation.
The reporting deadline for large companies set by Europe to report on 2025 in 2026 cannot be changed by national legislation and is therefore fixed. The fact that Belgium misses the deadline for transposition into national legislation cannot and will not change this reporting deadline.
We are obviously following this up further and foresee an update of this article as soon as there is more visibility on the implementation of sustainability reporting in Belgian legislation.
What can Titeca Pro Accountants & Experts do for you?
For all businesses:
- If you as a non-company receive a question about this from your customer or supplier, we can create a framework for you as to why you are receiving this question and how you can deal with it.
For companies required to prepare a sustainability report:
- We can determine for you whether your company will need to prepare a sustainability report and when, if at all, this would be the case.
- We can provide insight into how strict or extensive you can go in this reporting and why this can be useful.
- We can facilitate you in determining your sustainable priorities and how to do a dual materiality analysis.
Are you like us all the way pro sustainability? Then check out our sustainability page.
Do not hesitate to contact us here contact us with questions.
Would you like to proactively address this issue so that you too can make an impact to create a more sustainable world? Then make an appointment with our pro experts here!
