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Year-end forecast, tax and advance payments

⏱ 6 min readUpdated on

At the end of August, eight months are known and four are still to come. The year-end forecast (atterrissage / jaarprognose) adds the actuals to an estimate of the rest; the tax is recalculated on that result, with the rules of the tax year, and says what is left to pay.

What it is for

Step ③ Assumptions of the Monitoring module asks a question — “Where will the 2027 financial year land?” — and answers it in three ways, on three cards:

  • A · Actual + remaining plan: the year-to-date actuals, plus the plan for the remaining months;
  • B · Trend: the plan's remaining revenue adjusted for the variance observed, cost of sales at the actual rate, services and other goods, staff other than the director, other expenses and finance costs at the actual pace of the months elapsed; the director and depreciation as in the plan;
  • C · Adjusted by the accountant: the remaining revenue you enter, at the cost-of-sales rate you choose.

Under the cards, “How method … is calculated” spells out the method you use: actual + rest = year-end forecast. Then come the income statement for the year (plan, actual, rest, forecast, variance), Corporate income tax and advance payments, The bank (the DSCR), Net profit and dividends, the Comment for the client and the Revised version of the plan.

On the method used, Fiplan recalculates corporate income tax through the engine's tax chain — rate, conditions of the reduced rate, carry-forwards, the financial year's basket (corbeille / korf) —, then recommends the remaining advance tax payments (versements anticipés / voorafbetalingen): ① Avoid the surcharge at the lowest cost, or ② Pay all the estimated tax, in equal parts over the remaining due dates.

Steps

  1. Open Monitoring, step ③ Assumptions. The three cards each give a profit before tax, its variance against the plan and its formula.
  2. For C, enter the Revenue still to be invoiced (excl. VAT) (and, if you have it, the order book), choose the Cost-of-sales rate, then Save the assumptions.
  3. Click Use on the method you stand behind; it then carries the Selected badge. The spelled-out calculation, the tax, the bank and the report follow it.
  4. If an advance payment made differs from the plan, click Correct and enter its amount and date.
  5. Write the Comment for the client: it is the accountant's note, carried into the step ⑤ report and visible to the client once the report is published.
  6. To carry the year-end forecast into a new plan: Create the revised version…. The original plan stays intact.

Worked example · Boulangerie Dupont SRL

At 31 August 2027, 8 months have elapsed and 4 remain. The plan forecasts a profit before tax of €104,101.51 for 2027:

MethodEstimated profit before tax
A · actual + remaining plan94,901.51
B · trend87,482.51
C · remaining revenue entered: €100,000.00107,954.76

“How method A is calculated”:

How method A is calculatedAmount
Year-to-date actuals at 31 August 202758,677.23
+ plan for the 4 remaining months36,224.28
= 2027 year-end forecast94,901.51

The plan for the remaining months is the plan's profit for the year (€104,101.51) minus the plan at the same date (€67,877.23).

On method A, the estimated corporate income tax is €18,980.30 (tax year 2028), against €21,025.38 in the plan; the estimated net profit, €75,921.21. The bakery is a small company in its first three financial years: no surcharge threatens it, and option ① recommends no payment (€0.00); option ② would pay all the estimated tax, €18,980.30, over the remaining due dates.

Pitfalls

The year-end forecast is not the accountant's forecast. A and B are calculations; only C carries your judgement. The method used is stated in the report and in the client's space, with the estimate marked “est.” (estimated).
A closing trial balance has no year-end forecast. On the closing trial balance, step ③ says so: there is nothing to estimate, and “The plan against reality” — the actual figures of the whole financial year against the plan, the actual tax from accounts 67 — is read at step ④.
A financial year that does not follow the calendar year. The dates and number of advance payments for a non-calendar financial year are not modelled: the tax is estimated, the recommendation is not, and this is stated.
A “paid” advance payment is judged as of today. Past due dates count as paid (at the plan's amount, or at the amount you corrected); the current month's is still to come.

What it changes · 2027

① Income statementThe plan does not change€0.00The year-end forecast and the estimated tax are read alongside the plan; they do not modify it.
② CashFiplan makes no payment€0.00The recommendation is a decision aid; the payment is made outside Fiplan.
③ Balance sheetNo entry€0.00To carry the year-end forecast into a plan, create the revised version.

Source

Art. 215 of the Income Tax Code 1992 (ITC 92; CIR 92 / WIB 92): the reduced SME rate and its conditions, applied by the engine's tax chain to the estimated result.

Art. 218 ITC 92: the surcharge for insufficient advance payments; para. 2: no surcharge for a small company over its first three financial years since its incorporation.

Federal Public Service Finance (SPF Finances / FOD Financiën), “Versements anticipés” page (advance payments), tax year 2027: surcharge rate of 6.75%; credits of 9%, 7.5%, 6% and 4.5% (recorded in docs/references/fiscal/SOURCES.md, R18d, R19d, R20). A tax year not yet published uses the most recently published rates.

Fiplan convention (atterrissage.ts, atterrissage-vue.ts, impot.ts): the three year-end forecast methods, the calculation of the method used, and options ① and ② for the remaining payments.