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20 Francs
| Issuer | Banque Nationale de Belgique |
|---|---|
| Year | 1926-1940 |
| Type | Standard circulation banknote |
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| Composition | Log in to see details |
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| Obverse description | Log in to see details |
|---|---|
| Obverse lettering | BANQUE NATIONALE DE BELGIQUE 20 VINGT FRANCS PAYABLES A VUE TRÉSORERIE THESAURIE LA LOI PUNIT LE CONTREFACTEUR DES TRAVAUX FORCÉS |
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| Protection type | Log in to see details |
| Protection description | Watermark visible in the blank oval panel on the reverse, typically a portrait or ornamental design embedded in the paper. |
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| Comments |
This note ran through an unusually long issuance window — over fourteen years and multiple signature combinations — which reflects the Belgian National Bank's conservative approach to note replacement rather than any monetary instability. The Stacquet & Franck pairing covers the bulk of surviving examples from the early-to-mid 1930s, while the 1940 Sontag & Janssen dates correspond to the months immediately surrounding the German invasion of May that year.
The "TRÈSORERIE"/"THESAURIE" overprinted variant (P-111) was a wartime administrative reclassification, shifting liability from the central bank to the Treasury — a distinction that mattered considerably under occupation.