How to manage stock & inventory in Accountable?

Got a tax question? We’ll answer for free by email.

Bitte gib eine gültige E-Mail-Adresse ein

Ask your question

📖 Taxation & Accounting: The importance of inventory

In Belgium, businesses that purchase and sell goods must maintain a record of their stock levels and report them in their accounts. The inventory book must include:

• the cost of goods sold,

• the value of unsold inventory at the end of each accounting period.

While it is recommended to keep the inventory book updated throughout the year, for self‑employed persons, an annual record of inventory levels and their variation is sufficient.

🔄 Why track stock variations?

Your stock is influenced by two elements:

• Purchases and sales of goods

• Price changes in the products held

The goal is to account only for the gain at the time of sale. Your taxable income is adjusted based on stock value.

🪡 What is a stock variation?

• Positive variation: your stock increases (you bought more than you sold). This does not increase your tax, since purchases are deductible as business expenses. The stock variation offsets this deduction: the net effect is neutral.

• Negative variation: your stock decreases (you’ve sold goods previously purchased). That means you realized a profit margin and will be taxed only on that margin.

📆 Three key moments of stock management

1. At purchase

When you buy goods intended for resale:

• Stock increases

• This increase is fiscally offset by a deductible business expense

• If you are VAT‑registered, you can deduct VAT. Therefore, your stock will always be valued at the purchase price, excluding VAT. If VAT is non‑deductible fully or partially, that portion is included in the cost of stock.

2. At sale

When you sell goods:

• stock decreases

• You generate revenue, but you've already deducted the purchase. The negative variation corrects your taxable profit so that only the margin is taxed.

3. In the income tax declaration

Stock variation must be entered once, at year-end, in your income tax return.

In Accountable, this is done at step 7 – Stock Variation.

📈 The amount is automatically integrated into step 9 – Review, box XVII – 1600, to adjust your gross profit :

🔎 Practical examples of stock variation

📋 Example 1: Purchase without sale (neutral impact)

You purchase €5,000 of goods for resale, making no sales during the year.

• Starting stock: €0

• Ending stock: €5,000

• Stock variation: +€5,000 (5,000 − 0)

• ✅ Impact: neutral on profit (purchase offset by stock)

• 🔹 In Accountable: enter +€5,000 at step 7

📋 Example 2: Sale of existing stock (negative impact)

• Starting stock on 01/01/2025: €10,000

• Ending stock on 31/12/2025: €5,000

• Variation: 5,000 − 10,000 = −€5,000

• ✅ Impact: profit decreases, you are taxed on the margin

• 🔹 In Accountable: enter −€5,000 at step 7

📋 Example 3: Sale then restocking (positive variation)

Starting stock on 01/01/2025: €5,000

You sell all that stock during the year. Then you restock €7,500, which you do not resell.

• Ending stock: €7,500

• Variation: 7,500 − 5,000 = +€2,500

• ✅ Impact: you generated a margin on the sale, and the new stock adds value to your holdings. You are taxed on the margin realised.

• 🔹 In Accountable: enter +€2,500 at step 7

📋 Example 4: Full sale + restock + partial sale

You sell your initial sotck (€5,000), purchase €7,500 of new goods, and sell part of them for €3,500.

• Starting stock: €5,000

• Ending stock: €4,000 (7,500 − 3,500)

• Variation: 4,000 − 5,000 = −€1,000

• 📌 Variation of stock = 4,000 − 5,000 = −€1,000

• ✅ Impact: you are taxed only on the margin, because the final stock value is lower than at the start

• 🔹 In Accountable: enter −€1,000 at step 7

📊 Easier Tracking with our Excel tool

To help you track your stock throughout the year, use our Google Sheet or (download an Excel file). It automatically calculates the stock variation to report in your income tax declaration.

📧 Need help? Contact us at coach-fiscal@accountable.eu

Author - Valesca Wilms

As content marketing lead at Accountable Belgium, Valesca writes about freelancing, self-employment, and taxes based on her own experience as a freelancer.

Who is Valesca ?