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VIREN put into practice: Optimizing your net-pay

One of the most frequently asked questions by a starting self-employed person: 'And how much of that will I keep net?' Or the other way around: 'What day rate do I need to use or what turnover do I need to achieve to get to my desired net amount?'

By focusing only on the gross-net conversion, you may be missing out on a lot of opportunities. There are many options in our country that you can use to optimize your net result. Just think of the payment via a dividend, meal vouchers, a Free Supplementary Pension for the Self-Employed (VAPZ), or an individual pension commitment (IPT).

But which options do you choose in which situation, and to what extent do all these things contribute to a better optimized net result? How do you find, in the tangle of possibilities, THE best solution? And how do you do this without spending a lot of time again and again?

The most important step that had to be taken here was mapping and modeling the corresponding Belgian regulations. We did this together with the domain experts of Xerius and SD Worx. We converted their vast knowledge into mathematical rules. This is where our VIREN decision engine came in handy. We put the rules into an intuitive block system that is easy to manage thanks to a notation similar to Excel. The experts no longer have to explain any changes in legislation to a programmer but can handle the knowledge themselves by modeling the blocks differently. This avoids interpretation and implementation errors that would otherwise cause frustration on both sides.

When the legislation is modeled in VIREN, it can apply the corresponding mathematical rules itself, and this on several parameters simultaneously. You can then start asking questions like: What daily rate should I use if I want to pay out € 2,000 net per month? How many days a year do I have to work at a daily rate of € 600 to have a net annual income of € 45,000? What is the net impact of that BMW 1 compared to that Volkswagen Golf?

Thanks to VIREN, which works entirely cloud-based, waiting for results from the nightly batch job in which this kind of calculation still often happens, has come to an end. Now you get an immediate answer to your question. Handy right?

Want to give it a try yourself? Xerius has a user-friendly tool on their website where you can get started yourself:

By Stijn on 2021-05-20