When does an insider have to report a trade in Belgium?
Managers of Belgian listed companies report their trades to the FSMA, the Belgian financial regulator, through an online application called eMT. The FSMA publishes a trade only after the company has confirmed it.
The rule
Belgium applies Article 19 of the Market Abuse Regulation. The Belgian law of 2 August 2002 gives the FSMA the task of publishing the notifications. The MAR guide covers the EU rule in full.
Who has to report
Directors, members of the executive committee and other senior managers with regular access to inside information. Their closely associated persons report too: a partner, dependent children, relatives who shared the household for at least a year, and companies they control.
The deadline and the threshold
You report within three business days of the trade. The duty starts once your trades in a calendar year reach €20,000. The FSMA has not chosen a different level, so the EU default applies (ESMA list of national thresholds). The FSMA's own FAQ still mentions the old €5,000 from before December 2024.
eMT and the confirmation step
You file in eMT, and the application sends the notification to both the company and the FSMA. The company checks and confirms it, and only then does the FSMA put it in its transaction search. You may let someone else file for you, but the law holds you responsible for the filing and its content.
The confirmation step explains a pattern you see on this site: a Belgian filing often reaches the register days after the trade, and some filings carry gaps that the source left open. We mark those for review instead of guessing.
Belgian filings on this site
Insider Trades shows the FSMA filings as facts, next to the other European registers and the US, with a link to the source on every row. How we read and classify a filing is on the methodology page.
- Buyer clusters and buying streaks count Belgian buys per register.
- Company index: a page per company, Belgian issuers included.
Checked against the regulation and the regulator’s own pages on Oct 31, 2026. This guide explains the rules; it is not legal or investment advice.
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