On Oct. 21, BEL CB issued circular on notification of revised tables.
BEL CB issued Circular NBB_2026_18 on the EBA opinion re the profit or loss account in FINREP statements during the period between the date of application of IFRS 18 and that of the amended EU Implementing Reg (EBA ITS relating to prudential reporting).
Follows EBA Jul. 2026 issued opinion on the IFRS 18 implementation, see #305739.
Main Points
The EBA's opinion provides that, during that period, subject institutions may voluntarily use the revised FINREP tables in accordance with IFRS 18 prepared by the EBA.
The circular specifies how the institutions concerned, which are detailed in the circular, must notify to BEL CB their choice to use or not to use these revised tables which are part of a broader set of adjustments to the EBA ITS re FINREP and COREP reports.
EBA anticipates that they will be applicable from the reference date of Sep. 2027.
During the transition period, institutions will already be required to apply IFRS 18 in their public financial statements but will not be able to do so in the FINREP reports.
EBA published a notice to competent authorities on clarifying the expectations for FINREP reporting during this transition period, and provided the technical aspects.
Significant institutions (SI) and less significant institutions (LSI) must inform BEL CB of their intentions to use, or not, the revised FINREP schedules with IFRS 18 online.
They must use the OneGate application, by completing the FINREP_IFRS18 survey.
BEL CB will then consolidate the communicated choices and inform the ECB and the EBA before the end of 2026, in accordance with the EBA's opinion.
Effectiveness
The notification via OneGate must be submitted until Nov. 16, 2026.
