Where does your share register live?

Ask a company where its share register lives, and the answer is often: in a tool that was never built for it. An Excel file, a paper register book, a document in a shared folder, or an old Microsoft Access database.

That last one is a signal we've been picking up in recent conversations with prospects. Microsoft ended support for Access 2016 and Access 2019 on 14 October 2025, so databases on those versions have now gone a full year without security updates. As companies clean up old software, the share register often turns out to be one of the files that has to move.

But the question goes beyond Access. Whatever your register lives in today, it is worth asking what a share register actually needs to be.

A share register is not just a list

In Belgium, the share register is the legal record of who owns a company. Under the Code of Companies and Associations (WVV/CSA), companies with registered shares must keep a register that shows each shareholder, the number of shares they hold, and every transfer with its date. Whoever is entered in the register as the holder of a share is presumed to be its owner, unless proven otherwise. And a transfer of shares only becomes enforceable against the company and third parties once it is entered in the register.

That makes the register more than administration. When an investor, auditor, bank or court asks who owns what, the register is the answer. If it is incomplete, or nobody can show how it changed over time, that answer is hard to defend.

Want to know exactly what your register must contain? Our 10 checks to keep your shareholder register compliant walk you through it.

Belgian law also allows the register to be kept fully electronically. It has been possible for some time, but almost no company actually uses it in practice. 

What a share register needs

Excel, Access, a paper book or a shared folder can hold the numbers. But a register has to do three things those tools were never built for.

None of this is a criticism of these tools. They are good at what they were made for. But back in 2018, we already wrote that a spreadsheet offers no evidential value: no log of who-what-when, no version management, nothing tamper-proof. That is still true today. A legal record simply asks for more.

Digital or electronic: two ways to keep your register

Corporify offers two kinds of share register for Belgian companies. Both replace Excel, Access or a paper register book; they differ in how a change becomes legally valid.

Want to know more about how the electronic register works in practice? Read "Corporify's Fully Electronic Share Register".

Switching is not mandatory. Both registers remain available, and each company can choose the one that fits it best.

Moving your register

The biggest worry when switching is usually the history: years of issues and transfers that cannot get lost.

In webinars we organised with Deloitte Legal, we asked companies what holds them back. Three answers came up: uncertainty about whether a digital register is legally allowed, doubts about which technology to choose, and a lack of time to do it properly.

The first one is settled: Belgian law allows the register to be kept digitally, and even fully electronically. For the other two, a clear starting point helps.

That's why we offer a mini-audit before you switch: a full inventory and check of your share position. It shows whether your current register is accurate and complete, and gives your new register a clean start, with its history intact.

A good moment to get it right

Whatever your share register lives in today, this is a good moment to give it the home it deserves: one that keeps its full history, shows who changed what, and lets you share it safely.

FAQ

Is Microsoft Access still supported?

Access itself still exists, and desktop databases (.accdb) keep working. But Microsoft ended support for Access 2016 and Access 2019 on 14 October 2025, so those versions no longer receive security updates. The web version of Access in SharePoint Online was already retired in April 2018.

Can I keep my share register in Excel or Access?

You can use them to keep an overview of your shareholders. But they don't keep a reliable history, they don't show who changed what and when, and they offer no evidential value. For a legal document like a share register, that is a real risk in a dispute, an audit or a deal.

Is a digital share register legally valid in Belgium?

Yes. Belgian law allows a company to keep its share register digitally, and even fully electronically. In a fully electronic register, strong authentication at the moment of each change is enough to prove who owns what.

What is the difference between a digital and an electronic share register?

A digital register works like a paper one kept online: the board signs off on each updated version, and the latest signed version counts as proof. In an electronic register, every change is confirmed with itsme® and logged automatically, so the board no longer has to sign off on each update.

How do I move my share register without losing its history?

Start by checking that your current register is complete and correct: every issue and transfer, with its date. A mini-audit of your share position does exactly that and gives your new register a clean start with its full history intact.