Imagine this: you get into your car, enter a known destination, but your navigation system suddenly chooses a completely different route. Not because you are doing something wrong, but because the entire road network has changed. Something similar awaits companies in Belgium. Starting in January 2025, the new version of NACE-BEL, the Belgian classification of economic activities, will be phased in by static domain. This new version (NACE-BEL 2025) is based on the European NACE Rev. 2.1. and entails refinement and updating of the existing classification.
Why this update is necessary
The NACE code classifies economic activities within the EU and is also used in Belgium when registering companies in the Crossroads Bank for Enterprises (CBE). Correct coding is essential, as deviations can lead to billing or insurance problems
The economy is constantly changing: new activities emerge, while others disappear or evolve. Therefore, it is crucial to regularly update the classification of economic activities. The NACE-BEL 2025 provides a better alignment with the current state of Belgian business and allows for consistent comparisons at European level.
Implementation will start from Jan. 1, 2025, and will be phased by static domain, according to the schedule set at European level.
What will be the impact on your processes and systems?
The update of the NACE-BEL classification is much more than administrative changes. The consequences may affect the following aspects:
- Sector classifications may change due to rearranged classifications.
- Risk models or customer profiles may give different results.
- Segmentations in CRM or ERP systems may become inaccurate.
- Analyses and reports may continue to be based on outdated data.
- External data links may temporarily become mismatched.
It is important to know how dependent your processes are on NACE-BEL information and which processes need to be modified.
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What you can do right now to be prepared
The implementation of NACE-BEL 2025 has already started and will continue throughout the year. To avoid outdated or incorrect sector classifications, you can take the following steps now:
- Map where and how your organization uses the NACE-BEL codes and check if they match the new classification according to NACE-BEL 2025.
- Inform colleagues from relevant departments (Risk, Compliance, Sales, IT) about the changes.
- Check if your data suppliers are also implementing the changes.
- Update internal systems where necessary.
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Don't get left behind, but anticipate smartly
The introduction of NACE-BEL 2025 is more than an administrative update. The update affects multiple business processes, such as risk management and external data links. By taking action now and making the necessary adjustments in a timely manner, you ensure that your organization is well prepared for the changes and your business processes continue to run smoothly. Don't wait for the changes to be implemented, but anticipate them now.
Nieuwsgierig naar het implementatieplan? View the plan here.
