The legal starting point
Bankruptcy concerns a business persistently unable to pay whose credit is impaired, under Book XX of the Code of Economic Law. The competent court declares it. Temporary difficulty, reorganisation and bankruptcy differ. Directors, personal guarantees and employee rights need separate assessment.
Documents to gather
Accounts, overdue debts, receivables, contracts and personal guarantees. Prepare a realistic cash-flow overview with your adviser.
Your next step
Write a short timeline and state the outcome you seek. Request a written explanation if an amount or decision seems wrong. Before signing, acknowledging a debt or allowing a deadline to pass, check the consequences for your circumstances. An amicable step does not automatically suspend a statutory deadline.
Frequently asked questions
Is a guide enough to decide?
It helps prepare your next step. Dates, documents and specific rules can change the answer. Consult the sources below and have decisive issues assessed.
Sources and useful texts
Sources consulted on 27 September 2026
General information about Belgian law. Region, date of events and your circumstances can change the applicable rule.
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