A new law was passed in Belgium on 11 July 2013 amending the previous law in relation to security interests. Additional reforms have since been made, and from the 1st January 2018 the New Pledge Law has been in force. The main reforms include removing a requirement for dispossession and the introduction of an electronic pledge registry.
An overview of these reforms, created by Laga, is available here.
I Peeters and M de Muynck, Belgium moves to modernity but only half way: the introduction of new legislation on security interests in movable assets (2014) 29(1) JIBFL 75
The text of the 2013 law is available here.