Every VvE keeps a reserve fund to cover costs other than the ordinary annual costs (article 5:126(1) BW). Think of painting, a new roof or replacing window frames.
For a residential building, the VvE sets aside each year at least the amount from a multi-year maintenance plan that is no more than five years old and looks at least ten years ahead, or at least 0.5% of the rebuilding value (article 5:126(2) BW). There is no exception for small VvE's.
The money must be held in a separate current or savings account in the VvE's name. Departing from this is only possible through the regulations, by a decision with at least four fifths of all votes, or with a bank guarantee (article 5:126(3) BW). When an apartment is sold, the board's statement includes the size of the reserve fund (article 5:122(6) BW).
See also: Multi-year maintenance plan (MJOP), Rebuilding value (herbouwwaarde), VvE contribution (service charge), Budget (begroting), Statement on sale (5:122 statement)
Read more: How much must your VvE save?, VvE with two apartments
Legal basis: Boek 5 BW, art. 5:122, 5:126, Rijksoverheid: hoeveel geld moeten vve's reserveren?