NACE Codes and NACE-BEL

NACE codes are a classification system used to describe the economic activities of businesses in Belgium and other European countries. “NACE” stands for “Nomenclature des Activités Économiques dans la Communauté Européenne”, and it serves to precisely identify the main activity of a company. In Belgium, a specific version called NACE-BEL is used, which is a national adaptation of the European NACE system to meet the specific needs of the country while remaining aligned with European standards.

1. What is a NACE code?

A NACE code is a 4-digit code assigned to each economic activity. This code allows businesses to be classified according to their primary activity. For example, a restaurant will have a different NACE code than a construction company or a communication agency. NACE codes are standardized at the European level, facilitating the comparison of economic data between countries in the European Union. In Belgium, therefore, NACE-BEL is used, which follows the same structure as the European NACE while sometimes adding additional details to reflect activities specific to the Belgian market.

2. How are NACE codes defined?

NACE codes are defined by Eurostat, the statistical office of the European Union. They are grouped into sections, divisions, groups, and classes, allowing activities to be classified in a hierarchical manner. For example:

Section C: Manufacturing industry
Division 10: Food industry
Group 10.7: Manufacture of bakery products
Class 10.71: Bakeries and pastry shops.

Thus, each NACE code is a specific combination that designates a type of economic activity. In Belgium, the NACE-BEL version uses this same structure while adapting it to local realities.

3. Where are NACE codes published?

NACE codes, and thus NACE-BEL codes in Belgium, are registered when a company is created and published in the Banque-Carrefour des Entreprises (BCE). When you create your company in Belgium, you must choose one or more NACE-BEL codes that correspond to the activities you wish to undertake. These codes are then associated with the company in the BCE, a publicly accessible database.

2. Where are NACE Codes Published?

In addition, it is important to note that the NACE codes of a registered office and an operational office may differ. The registered office represents the legal address of the company, and its NACE code typically reflects the main activity. In contrast, the operational office is the place where economic activity is actually conducted, and it may have a distinct NACE code if the company engages in different activities there. If both locations share the same activity, the NACE codes can be identical.

4. Who Uses NACE Codes?

NACE and NACE-BEL codes are used by various stakeholders:

Public authorities: For managing economic statistics, regulating sectors, or granting licenses and permits.
Companies: They must indicate their NACE code for certain administrative procedures, such as registration with the BCE or applying for funding or grants specific to certain activities.
Financial institutions: Banks may also use NACE codes to assess the risks associated with companies’ activities before granting credit or loans.
Statistical agencies: To analyze and publish data related to economic activity in specific sectors.

5. Why are NACE and NACE-BEL Codes Important?

The NACE or NACE-BEL code allows for a clear and consistent definition of what a company does, which is useful in many areas:

Compliance with regulations: Certain activities require specific permits or licenses in Belgium, and these requirements may vary based on the company’s NACE-BEL code.
Access to aids or subsidies: Some public aids or grants may only be available for certain categories of activities identified by their NACE-BEL code.
Accuracy of economic analyses: Through classification by NACE and NACE-BEL codes, it is possible to understand economic trends by sector and make large-scale strategic decisions.

6. How to Choose Your NACE-BEL Code? List of NACE Codes

When creating your company, you must choose the NACE-BEL code(s) that correspond to the activities you will undertake. It is important to select these codes carefully, as they can influence how you are taxed, regulated, and analyzed.

To choose NACE-BEL codes, you can:

Consult the complete list of NACE-BEL codes on the Banque-Carrefour des Entreprises website or from an accredited business counter, or download the XLS file with the NACE Codes version 2008
Seek advice from an accountant or a specialized consultant in business creation.

7. Can You Modify Your NACE-BEL Code? And How?

Yes, a company can modify or add NACE-BEL codes if it expands or changes its activities. It is sufficient to submit a request to an accredited business counter.

Changing a NACE code may involve two scenarios depending on the impact of the change in activity on the company’s statutes:

Change of the corporate purpose: If the main activity changes significantly, it will be necessary to modify the company’s statutes. This usually requires the intervention of a notary and the approval of the Extraordinary General Assembly (AGE), especially for legal forms like SRL or SA.
Simple administrative update: If the modification concerns a secondary or complementary activity, it is not necessary to change the statutes. In this case, it is enough to update the information with the Banque-Carrefour des Entreprises (BCE).

To make the modification, you must contact an accredited business counter (Partena, Securex, UCM, etc.). The counter will transmit the modification to the BCE. They can also indicate the necessary documents for the update, such as a copy of the modified statutes if needed.

However, if you are simply relocating your registered office, it is not necessary to modify your NACE codes. The same applies if you domicile your registered office in a business center. For more information on registered office domiciliation.

Conclusion

The NACE code, and its Belgian version NACE-BEL, are fundamental elements of a company’s administrative management in Belgium. They allow for a precise definition of a company’s economic activities, facilitate administrative processes, and are essential for tax, regulatory, and statistical purposes. Anyone creating a company in Belgium must carefully choose their NACE-BEL codes to accurately reflect the company’s activities.

If you want to go even further in analyzing and understanding NACE and NACE-BEL codes, the Belgian Statistics Office provides more details on this nomenclature at https://statbel.fgov.be/fr/propos-de-statbel/methodologie/classifications/nace-bel-2008.