Duration of the consolidation

As far as the consolidation period is concerned we distinguish between 2 phases.

The first phase concerns a "1st consolidation", when one or more new AGBs enter the consolidation perimeter. The second phase is equivalent to a recurrent consolidation.

For the 1st consolidation the impulse is given on 30 September, when the NAI publishes its list of "13.12" entities. It is then necessary to quickly contact the new AGB which is to be consolidated to inform them and find out about their activities so that specific procedures can be developed to consolidate the AGB as from 1 January of the following year (this being 3 months later). The AGB's accounting system can be aligned with the bookkeeping plan after 1 January. Also, various other analysis is carried out, leading to the creation of documents such as consolidation files, including a description of the most important elements that are relevant to consolidation.

When consolidation has become recurrent, then the account from the past year is closed and submitted on 31 August. Between 31 August and 30 November there is certification by the Belgian Court of Audit, as well as amendments to the handbook and procedures, the summary description of the required amendments and the distribution of instructions to the AGBs.  Ad-hoc analysis is carried out as from 1 January aimed at finding a solution for problems identified during consolidation. Consolidation of those AGBs that are ready starts at the beginning of March. The actual consolidation is carried out between 31 May and 31 August.