The 16^th annual ECFR Symposium was opened by Koen Geens and Christoph Teichmann. The former addressed the evolution of company law in the EU and Belgium, focusing on the new Belgian Code on Companies and Associations which entered into force in 2019. The latter explained that the presentations in the morning would focus on topics of Belgian law that are also of interest to the European academic community, while the afternoon topics would be of an EU nature. The first morning session consisted of two presentations. The first one, given by Henri Culot, focused on the Belgian private limited company without capital. The second presentation was by Jeroen Delvoie and addressed loyalty shares.