This is a next, annual installment in a series, published regularly since 1978, of overviews of Belgian politics in a given year. This 2004 overview discusses the main topics & issues that preoccupied the government of Guy Verhofstadt, formed in a three-party coalition -- Vlaamse Liberalen en Democraten ([VLD] Flemish Liberals and Democrats), Socialistische Partij Anders ([SP.A] Socialist Party Differently), & Sociaal, Progressief, Internationaal, Regionalistisch, Integraal-democratisch en Toekomstgericht ([Spirit]Social, Progressive, International, Regional, Integral-Democratic, and Future Justice) -- following the national election in May 2003: (1) immigrants' voting rights, (2) the controversy over Zaventem airport expansion requested by the German shipping company DHL, (3) redistricting/splitting of the Brussels-Halle-Vilvoorde electoral district, (4) unemployment compensation, family policy, tax restructuring, & other social & fiscal issues pertaining to the 2005 budget, (5) environmental policy, (6) the implications of the regional & EU elections of 13 June 2004, (7) public safety & defense matters, (8) regional government/jurisdiction & civil service reforms & other matters of home policy, & (9) internal party politics. Z. Dubiel