Cost settlement
Cost settlement is the annual process of distributing a building's actual costs to individual owners based on their ownership shares and distribution keys. At the end of each fiscal year, the total costs are compared against the budget (provisions) that owners have already paid, resulting in either an additional charge or a refund per owner.
Why is it important?
| Impact | Description |
|---|---|
| Fairness | Each owner pays their correct share based on distribution keys |
| Transparency | Owners receive a detailed breakdown of all building costs |
| Budget reconciliation | The difference between budgeted provisions and actual costs is settled |
| Legal obligation | Required by Belgian VME legislation after each fiscal year |
| General Meeting | The settlement must be approved at the Annual General Meeting |
What does a cost settlement include?
| Component | Description |
|---|---|
| Common costs | Shared building expenses (cleaning, insurance, electricity, maintenance) |
| Individual costs | Costs allocated to specific units (e.g. private parking, storage) |
| Provisions paid | Budget advances already paid by each owner during the year |
| Balance | Difference between actual costs and provisions — positive = owner owes extra, negative = owner receives refund |
How to request a cost settlement
Currently, cost settlements cannot be created by users in the platform. To start a cost settlement for your building:
- Contact SNDQ support via the in-app chat or email
- Provide the following information:
| Information | Description |
|---|---|
| Building name | The building for which you want to run the settlement |
| Fiscal year | The fiscal year to be settled (e.g. Boekjaar 2025) |
| Distribution keys | Confirm that distribution keys are correctly configured |
| Invoice status | Confirm that all invoices for the period are booked and allocated |
- SNDQ will prepare the settlement and guide you through the review process
Prerequisites
Before a cost settlement can be processed, ensure:
- All purchase invoices for the fiscal year are booked and allocated to cost categories
- Distribution keys are correctly assigned to each cost category
- All payments are reconciled
- The budget for the fiscal year is finalised
After the settlement
Once the cost settlement is completed:
| Step | Description |
|---|---|
| Review | Verify the settlement details per owner in the platform |
| Approval | Present the settlement at the General Meeting for approval |
| Invoicing | Settlement invoices are generated for each owner (additional charge or credit note) |
| Collection | Owners pay the settlement amount or receive a refund |
Need help?
Contact SNDQ support:
- Via the Get help button in the left sidebar
- Or email support directly
SNDQ will guide you through the complete cost settlement process.