Nexo and taxes in Belgium: interest, loans and your 2026 return

Last updated: 11 June 2026 · Reading time: 8 minutes

Nexo is not a classic exchange. Most Belgians do not use it to trade, but to earn interest on their crypto, take out a crypto-backed loan or pay with the Nexo Card. That is exactly why its tax treatment differs from a Bitvavo or a Kraken: with Nexo, everything revolves around passive income.

Since 1 January 2026 the treatment of crypto gains has been set in law. The capital gains tax on financial assets, approved on 3 April 2026 by the Chamber and published in the Belgian Official Gazette on 21 April 2026, regulates for the first time exactly how crypto is taxed in Belgium. But for a Nexo user, the rules around movable income (roerende inkomsten) and the reporting obligation for foreign accounts (CAP) are at least as important.

In this guide we go through exactly what you have to declare from your Nexo account, how each type of income is taxed, and how to import your transactions correctly into Cryptotax.

🎯 The short version (TL;DR)

• Interest and Earn rewards (Interest, Fixed Term, Dual Investment Interest): taxable as movable income at 30% at the moment of receipt.
• Bonus, cashback and Exchange Cashback: also taxable income based on the market value at receipt.
• In-app Exchange and Nexo Card payments are disposals: they count as a sale and fall under the 10% capital gains tax.
• Taking out or repaying a crypto-backed loan is not a taxable event, but if your collateral is liquidated, that is a taxable sale.
• CAP reporting: your Nexo account must be reported once to the Central Point of Contact (CAP) of the National Bank, plus a mention in Vak XIII.
• Import: Nexo provides a single CSV export with all your activity. Cryptotax reads this format automatically and recognizes interest, conversions, loans and liquidations.

Rather not calculate it by hand? Upload your Nexo export and calculate your tax automatically →

📊 Which Nexo activity is tax-relevant?

More taxable things happen on Nexo than on a platform where you only buy and sell, because interest and cashback keep flowing in. Concretely:

The biggest trap with Nexo is the interest. Nexo often credits rewards daily, in small amounts. Anyone who only looks at their closing balance does not see that stream as income, but for tax purposes every individual interest payout is taxable at the moment you receive it, at the value of that moment.

⚖️ How is each type taxed?

Interest and Earn rewards: movable income 30%

The core of Nexo is earning interest on your crypto. Anyone who passively lends out crypto through a platform and receives a return for it realizes movable income (roerende inkomsten), taxed at 30% withholding tax. That applies to ordinary Interest, Fixed Term Interest and the interest component of Dual Investment.

Key points:

• The reward is taxable at the moment of receipt, at its value in euros at that point.
• That value also immediately serves as the cost basis for a later sale of the received coins, so that you are not taxed twice.
• Anyone who manages very actively (for example constantly reallocating between products in search of the highest return) may fall under miscellaneous income (diverse inkomsten) at 33% instead of 30% movable. If you are unsure about your profile, read our guide on staking and passive income.

In-app Exchange and Nexo Card: capital gain 10%

If you convert one coin into another within Nexo (the in-app Exchange), or pay with the Nexo Card in crypto, you dispose of crypto. Since 1 January 2026 that gain falls under the 10% capital gains tax above an exemption of EUR 10,000 per year. In short:

• Rate: 10% on the amount above the annual exemption of EUR 10,000.
• Cost basis per asset via the weighted average, not FIFO.
• For crypto you already held before 2026, your cost basis is the market value on 31 December 2025 (the step-up).
• No withholding at source: you report it yourself through your tax return.

Loans and liquidations

Taking out a crypto-backed loan is not a sale for tax purposes: you borrow euros or stablecoins against your crypto as collateral, you dispose of nothing. Repaying that loan is not a taxable event either. But when Nexo liquidates your collateral (for example on a margin call), your crypto is effectively sold. That is a taxable capital gain, even though you did not initiate the sale yourself. Read more about the tax logic of borrowing and lending in our guide on crypto loans.

🏦 CAP reporting of your Nexo account

Besides the tax on your income and capital gains, there is a separate obligation that is independent of what you earned: the Nexo account itself must be reported once to the Central Point of Contact (CAP) of the National Bank of Belgium, because Nexo is a foreign platform. The April 2026 capital gains tax law makes this obligation explicit for crypto accounts.

Which entity and which country? Nexo is operated by an international group. Belgian users have historically contracted with Nexo Capital Inc., established in the Cayman Islands; the terms and conditions are governed by Cayman law. In 2026 the group is working on a MiCA license within the EU: an application is pending with the Bulgarian regulator (FSC) and since June 2026 there is a MiCA-compliant structure under German supervision. Because the entity you contract with may change due to this migration, it is best to check in your own Nexo agreement which company and which country your account is held with, and to use that country for your CAP reporting and in Vak XIII.

In short:

• Once, not annually.
• Portal: cappcc.nbb.be, log in with eID or itsme.
• Deadline: 30 June, together with the personal income tax return.
• Penalty for non-declaration: EUR 50 to EUR 1,250 per account, plus extension of the investigation period to 7 years.

For the full step-by-step explanation, see our CAP declaration guide and the checklist for foreign exchanges.

📑 Nexo in Vak XIII of your return

In your annual personal income tax return you confirm in Vak XIII, section A that you have a foreign account and that you have reported it to the CAP. You only fill in the country, no balance or amounts. Your concrete income and capital gains end up in other sections, depending on the category (movable income, miscellaneous income, capital gain).

📤 Importing your transactions into Cryptotax

Nexo does not offer an API connection for tax tools, but the CSV export contains everything that is needed: interest, conversions, card payments, deposits, withdrawals, loans and liquidations in one file.

Step 1: export your transaction history from Nexo

1. Log in to nexo.io (or the Nexo app).
2. Go to your Transaction history (Transactions).
3. Choose full history, not just the current year (your cost basis runs over multiple years).
4. Export as CSV and download the file.

Step 2: upload the CSV file into Cryptotax

1. Log in to cryptotax.be.
2. Go to Data sources and click Add source.
3. Select Nexo from the list.
4. Drag the CSV file into the upload zone, or click to browse.
5. Click Import.

Cryptotax recognizes the Nexo CSV format and converts each line into the correct event type. Concretely:

• Interest, Fixed Term, cashback and bonus are booked as taxable income at the market price at the moment of receipt.
• In-app Exchange and Card payments are booked as a sale plus purchase, so that your capital gain is correct.
• Deposits, withdrawals, locking/unlocking and internal transfers between your Nexo wallets are recognized and not counted as a sale.
• Liquidations of collateral are booked as a forced sale.
• Nexo's own stablecoins (EURX, USDX, GBPX) are normalized to the underlying fiat, so that interest in EURX is correctly priced at par.

⚠️ The mistakes we see most often

1. Forgetting interest. Daily interest in small amounts is easily overlooked, but together it forms taxable movable income.
2. Seeing the in-app Exchange as "not a sale". A conversion within Nexo is a sale plus purchase for tax purposes, just like on any other exchange.
3. Ignoring liquidations. A forced sale of collateral is a taxable capital gain, even if you did not choose it yourself.
4. Skipping the CAP reporting. Nexo is a foreign platform, so the reporting obligation applies in full.

❓ FAQ: frequently asked questions

Do I have to pay tax if I only earn interest and sell nothing?
Yes. Interest from Nexo Earn is movable income and is taxable at the moment of receipt, even if you never sell the coins. In addition, you must report the Nexo account itself through the CAP.

How is the interest valued when it is paid out in crypto?
At the market value in euros at the moment of payout. Cryptotax calculates this automatically per payout. That same value becomes the cost basis for a later sale.

Is a crypto-backed loan taxable?
No. Taking out and repaying a loan is not a disposal. Only when your collateral is liquidated does a taxable capital gain arise.

What if I made a loss in 2026?
Losses can be offset within the same tax year against gains on other financial assets, but there is no carry-forward to subsequent years.

And if I also use Binance, Kraken or Bitvavo?
Every foreign exchange follows the same logic: capital gain on sales, income on interest or staking, CAP reporting of the account, Vak XIII in your return. We have separate guides for Binance, Kraken, Coinbase and Bitvavo.

🔮 What changes with DAC8?

From 1 January 2026 crypto platforms collect data about their Belgian customers under DAC8, the European directive for the automatic exchange of crypto information. From September 2027 that data is reported annually to the Belgian tax authorities. Anyone who gets their return in order today avoids a targeted audit tomorrow due to a mismatch. Read our DAC8 update for Belgium for the timeline.

🧾 Summary

✅ Try Cryptotax

Cryptotax automates the entire calculation: you upload your Nexo CSV (and optionally your wallet addresses or CSVs from other exchanges), and the system calculates your movable income, capital gains and the associated tax amounts in accordance with Belgian law. The report is directly usable for your Tax-on-Web return.

Try Cryptotax for free and take the first step toward a worry-free return.

Sources:

• Law of 6 April 2026 introducing a tax on capital gains on financial assets
• CAP portal, National Bank of Belgium
• FPS Finance, foreign accounts

⚠️ Disclaimer: This article is purely informative and not individual tax advice. For concrete cases it is best to consult a recognized Belgian tax adviser or request a ruling from the Ruling Commission (Dienst Voorafgaande Beslissingen).