Inthelast20years,publicadministrationsinBelgiumhavecompletelyreformedtheiraccountingsystems.Thenewsystemconsistsincombiningdouble-entrygeneralaccountingwithbudgetaryaccounting,whichistraditionalinthepublicsector.Theaccountingreformof2003marksaturningpointinthehistoryofaccountingofthefederalStateandfederatedentities(regionsandcommunities).TheBrussels-capitalregionisthefirstfederatedentitytoembarkontheadventureandimplementthenewaccountingsystemin2006.TheaimofthisarticleistointroducethelegislativeframeworkandthedifferentimplementationstepsoftheaccountingreformintheBrussels-capitalregionandtoprovideafinancialanalysisoftheregion.Theobjectiveistoseeiftheregionhasagoodfinancialsituation.Todothis,thispaperanalysesthedatafromthebalancesheetandtheincomestatementsfrom2008to2011.Ononehand,itanalyzestheevolutionoftheregion'sdifferentresults;andontheotherhand,itpresentsdifferentfinancialratios.Italsoanalyzestheevolutionoftheregionaldebt.Thispaperconcludesthat,althoughexpensesandthedebtareincreasing,thesituationoftheregionisnotworrying,becauseofgoodbudgetaryperformances,sophisticatedfinancialmanagement,andlawloansrates.Eveniftheresultsoftheanalysisdon'thavetobeinterpretedasthesamewayasforaprivatecompany,theannualaccountsprovideinterestinginformationthatcanbeusedtoimprovepublicfinance.