Key information
- Belgium saw an 8 percent increase in the number of bankruptcies in 2024 with 11,067 companies.
- Flanders has recorded the highest number of bankruptcies since 2013 with 6,323 cases.
- All sectors saw an increase in the number of bankruptcies in 2024, with the exception of hospitality and agriculture/fisheries.
Belgium is experiencing an increase in bankruptcies
In 2024, Belgium saw 11,067 companies declared bankrupt, an increase of 8 percent compared to 2023, Statbel reports. This figure is the highest since 2013. December continued this trend with 1,002 bankruptcies, an increase of 9.3 percent compared to the same month in 2023.
Situation by region
However, the situation differs depending on the region. Flanders recorded the highest number of bankruptcies since 2013 with 6,323 cases, an increase of 7.0 percent compared to the previous record in 2023. Wallonia saw an increase of 6.2 percent with 2,821 bankruptcies recorded, but this remains the fourth highest number in the last 12 years. Brussels recorded 1,923 bankruptcies, an increase of 14.5 percent compared to 2023, representing the highest number in the last five years, although lower than the 2020 figures.
Increase in all sectors
All sectors saw an increase in the number of bankruptcies in 2024, with the exception of hospitality and agriculture/fisheries. Construction, with 2,619 bankruptcies (up 17.4 percent), and transportation and warehousing, with 724 bankruptcies (up 11.7 percent), set records.
Flanders dominates most sectors
Flanders dominates most sectors in 2024: construction with 1,640 bankruptcies (up 18.5 percent compared to 2023), transport and warehousing with 431 bankruptcies (up 16.2 percent) , information and communication with 183 bankruptcies (up 4.6 percent compared to 2013) and liberal professions/scientific and technical activities with 481 bankruptcies (up 6.9 percent).
-Job losses
Job losses in 2024, at 32,566, are up 18.3 percent from 2023 and are the third highest figure in the last 12 years. Flanders suffered the highest job losses with 19,179 cases, while Wallonia saw the highest number since 2015 with 8,573 job losses. Brussels, however, continues to see the lowest number of job losses in the last 12 years with 4,814 cases.
Industry and energy sector
The industrial and energy sector lost 510 jobs, an increase of 20.6 percent compared to 2014. Professional, scientific and technical activities lost 1,872 jobs (up 2.2 percent compared to 2014). cent compared to 2013).
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