Liquidation reserve or dividend — what is left of your profit?
A liquidation reserve costs a levy now and a smaller withholding later. Whether it beats a dividend today depends on the rate you would otherwise pay.
Your numbers
After-tax profit you could either reserve or distribute.
Your answer
Net via the liquidation reserve
€40,590
- Net via a dividend now
- €41,000
- Difference
- -€410
- Effective rate on the reserve
- 18,8%
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Routing €50,000 through a liquidation reserve leaves you €40,590 once the anticipatory levy and the later withholding are both paid — an effective 18,8%. Paying the same profit out as a dividend now leaves €41,000, a difference of -€410.
How this is calculated
The company pays an anticipatory levy when it books the reserve, and a smaller withholding when the reserve is distributed after the waiting period — nothing extra if it is released on liquidation. The two combine into the effective rate shown below. The comparison assumes you hold the reserve for the full waiting period; taking it out sooner is taxed as an ordinary dividend and loses the advantage. Reserves booked before the 2025 reform keep their older, lower exit rates, which this calculator does not model.
Rates and thresholds, tax year 2026
| Anticipatory levy when booked | 10% |
|---|---|
| Withholding after the waiting period | 9,8% |
| Waiting period in years | 3 |
| Combined effective rate | 18,8% |
| Standard dividend withholding | 30% |
Rule set verified as of 2026-07-20
Questions people ask
- What if I need the money before the waiting period ends?
- Distributing early means the standard dividend withholding applies on top of the anticipatory levy you already paid, which is the worst of both worlds. Only reserve profit you can genuinely leave in place.
- What about reserves I booked before 2026?
- Reserves booked before the reform cut-off keep the older, lower exit withholding under transitional rules. This calculator models the current regime only, so an older reserve does better than shown here.
- Can I use both the liquidation reserve and VVPR-bis?
- Yes, on different profits — they are separate regimes. Which one to use for which slice of profit, and in what order, is exactly what the full optimizer ranks.
This article is general information for a one-person company (BV/SRL), not tax advice. Rules and figures change — confirm your situation with your accountant before acting.
Fiscalance Editorial · Updated 5 August 2026