A reform that changes the calculation
Belgium has introduced a tax on capital gains realised on the sale of shares. For many owners, gains that were previously outside scope now need to be measured precisely, which puts the valuation of your company at the centre of the calculation.
Who is concerned?
- · Owner-managers selling all or part of their shares
- · Private individuals and family shareholders
- · SME shareholders preparing a transmission or reorganisation
How is the taxable base calculated?
In broad terms, the taxable gain is the difference between the sale price and a reference value. For shares already held, the starting point for the calculation is the value at 31 December 2025: gains built up before that date stay outside scope. Establishing a credible reference value at 31/12/2025 is therefore decisive, and is precisely where a rigorous valuation matters.
Why an independent valuation is necessary
A value you assert is not a value you can defend. An independent valuation, built on recognised methods and clearly documented, gives you a reference you can put forward with confidence, and reduces the risk of a costly disagreement later.
The role of L&W Advisory
We produce solid, documented valuations designed to be defended before the tax authorities. Independent of any bank or financial interest, we have only one objective: a value that holds up. We work alongside your accountant and lawyer.
Frequently asked questions
Do I need a valuation if I haven't sold yet?+
- ·the company operates in a sector where valuation multiples are high;
- ·the company is in strong growth;
- ·the market value of the assets is not reflected in the 31/12/2025 balance sheet: real-estate companies, holding companies, or companies with a high proportion of intangible assets;
- ·the company generated an unusually low EBITDA in 2025.
Which valuation method will you use?+
Typically a combination of DCF, market multiples and net-asset approaches, weighted according to your company's profile and the context.
Will the report be accepted by the tax authorities?+
No valuation is automatically binding. Our report follows the latest guidance and requirements issued by the tax authorities, and a documented, independent and methodologically sound report is far easier to defend than an unsupported figure.
Can you work with my accountant?+
Yes. We frequently work alongside accountants and lawyers, and can deliver white-label if you prefer.
How long does a valuation take?+
For most files, we deliver within 5 business days of receiving all the requested information. More complex cases may take longer, and we agree a clear timeline up front.
Is the first conversation free?+
Yes. The first exchange is free, confidential and without commitment, so we can scope your situation.
This page is general information, not tax or legal advice. The rules on capital-gains taxation evolve and their application depends on your specific situation. Please consult us, your accountant or your lawyer for advice on your case.