Company Loans (Infotype 0045): National Features Belgium
The company loans infotype applied to Belgium is divided into 23 subtypes. Mainly 9 different loans are required by the law and for each of them it is possible to differentiate between loans repaid by instalment and annuity repayments. In some case the repayment of the capital can occur at the end of the contract duration.
Instalments
Subtype B110: |
Mortgage loan covered by a mixed life insurance |
Subtype B120: |
Other mortgage loan. |
Subtype B130: |
Mortgage loan with variable interest rate - Yearly revision. |
Subtype B132: |
Mortgage loan with variable interest rate - Revision every 2 years. |
Subtype B133: |
Mortgage loan with variable interest rate - Revision every 3 years. |
Subtype B134: |
Mortgage loan with variable interest rate - Revision every 4 years. |
Subtype B135: |
Mortgage loan with variable interest rate - Revision every 5 years. |
Subtype B140: |
Car loan |
Subtype B150: |
Other loan (non mortgage) |
Annuity
Subtype B210: |
Mortgage loan covered by a mixed life insurance |
Subtype B220: |
Other mortgage loan. |
Subtype B230: |
Mortgage loan with variable interest rate - Yearly revision. |
Subtype B232: |
Mortgage loan with variable interest rate - Revision every 2 years. |
Subtype B233: |
Mortgage loan with variable interest rate - Revision every 3 years. |
Subtype B234: |
Mortgage loan with variable interest rate - Revision every 4 years. |
Subtype B235: |
Mortgage loan with variable interest rate - Revision every 5 years. |
Subtype B240: |
Car loan |
Subtype B250: |
Other loan (non mortgage) |
Repayment at the end of the contract duration
Subtype B111: |
Mortgage loan covered by a mixed life insurance - Capital repaid once at the end of loan duration. |
Subtype B121: |
Other mortgage loan - Capital repaid once at the end of loan duration. |
Subtype B141: |
Car loan - Capital repaid once at the end of loan duration. |
Subtype B151: |
Other loan (non mortgage) - Capital repaid once at the end of loan duration. |
Loan conditions
The reference rate field must stay empty. For the Belgian loans, the maintenance of the reference rate is transferred to the table 'Payroll Accounting Constant' (T511k). For every loan type described above, a constant should be maintained every time the interest reference modification is issued by the law. The table is read every time the payroll is run and the advantage need to be calculated.
The interest references are maintained as described here after;
Constant BLOGI : loan subtypes B110 - B111 - B210
Constant BLOOT : loan subtypes B120 - B121 - B220
Constant BLOIA : loan subtypes B130 - B230
Constant BLOIB : loan subtypes B132 - B232
Constant BLOIC : loan subtypes B133 - B233
Constant BLOID : loan subtypes B134 - B234
Constant BLOIE : loan subtypes B135 - B235
Constant BLOCF : loan subtypes B140 - B141 - B240
Constant BLOOF : loan subtypes B150 - B151 - B250
Approval Date
According to the law, the reference rate has to be read for the period when the contract has been signed (two months before in case of mortgage loan with variable interest). The field approval date will be used as the contractual date from which the reference rate is read. Therefore this field should be properly maintained as the calculation of the advantage will depend also on this information.