Do I have to declare my crypto profits in Belgium?
- Aeacus Lawyers
- Jul 17
- 4 min read
We're increasingly being asked by clients who invest in cryptocurrency personally: "Do I have to declare my crypto profits in Belgium?" To clarify the tax treatment of crypto profits, we've summarized the most important points below.
Step 1: Only declare crypto profits in Belgium if there is an actual profit
In Belgium, you only have to declare crypto profits when you 've realized a profit. This means that any taxable profit only occurs when you actually sell the coins or exchange them for another coin.
An example will clarify this: suppose you bought a coin five years ago for 10 euros each, and today that same coin is worth 10,000 euros. As long as you don't sell that coin, it's only a "paper profit," and you don't have to declare it.
An important nuance here is that when you exchange one coin for another coin, this is is considered a realization. This also applies, for example, when you convert a coin to a stablecoin. Although this doesn't appear to be a sale, it may result in a taxable gain.
The new coalition agreement announces a 10% capital gains tax on crypto profits, eliminating the current exemption for crypto gains. Implementation is scheduled for 2026, with an exemption for gains realized before that date. In this case, you will definitely have to declare your crypto gains.
Step 2: Is the profit taxable or not?
Once a profit is realized, we must assess whether this profit is taxable. In Belgium, this depends on the nature of your crypto investment management. There are three possible scenarios:
Normal private asset management : If you manage crypto assets as part of your private assets and the transactions fall within the scope of normal private asset management, the profits are generally not taxable . This means you do not have to declare these profits on your tax return. As mentioned above, the new coalition agreement announces a 10% capital gains tax on crypto profits. Implementation is scheduled for 2026, with an exemption for capital gains realized before that date. For more information about "normal management and responsible stewardship," see this article .
Speculative nature : When the transactions are speculative in nature, the profit can be considered miscellaneous income and is taxed at 33%. In this case, the profits must be declared in the tax return. However, this scenario requires a more in-depth analysis of your trading behavior. For more information on speculative investing, see this article .
Professional income : If you trade crypto assets professionally, profits may be taxed as professional income, resulting in a higher tax burden. In that case, you must also declare the income on your personal income tax return. For more information about professional income, see this article .
For a more detailed explanation of the various qualifications for crypto profits, please refer to our previous article . In this context, we would like to note that there is also a possible qualification as movable income. This is primarily the case with staking and liquidity rewards. This income must also be declared.
Step 3: Declaring crypto accounts in the tax return
Regardless of whether you've made a profit, you may be required to include your crypto accounts in your Belgian tax return. This is especially true if you have a foreign crypto account, such as a wallet on a platform like Coinbase, Binance, Kraken, Bitvavo, or other foreign exchanges. These accounts must be reported both in your annual personal income tax return and to the CAP (Central Contact Point of the National Bank of Belgium).
Declaring a crypto account with the CAP can be complex, as a wallet typically doesn't have a traditional account number. Many of our clients therefore experience difficulty declaring it correctly. Nevertheless, we recommend reporting this, if necessary by email, as regulations in this area are still evolving.
For a more detailed explanation of when you should declare your crypto account, please refer to our previous article .
Conclusion
If you're investing in cryptocurrency and wondering whether you have to declare crypto profits in Belgium, it's important to consider three things:
Is there an effective profit? Pay particular attention to exchanging a coin for a stablecoin, for example, as this is considered a realization.
Is the profit taxable? Profits from normal private asset management are not taxable and do not need to be reported until January 1, 2026, but speculative or professional profits must be reported.
Do you have to declare your crypto account? Foreign crypto accounts often have to be declared on tax returns and with the CAP, regardless of any profits.
These steps will give you a clear overview of your obligations and help you avoid overlooking tax rules.
Note that with the new tax reforms, correctly reporting crypto profits and accounts is becoming more important than ever. The coalition agreement indicates that the De Wever I government may open the hunt for crypto profits .
If you have any questions about the overview above or a specific question regarding your personal situation, please don't hesitate to schedule a free consultation with us.
If you have any other questions about crypto, be sure to check out our Frequently Asked Questions (FAQ)
Christophe Romero Senne Verholle
