10,714 Belgian businesses went bankrupt in 2018

In 2018, across the whole of Belgium, 10,714 companies had to close their doors, only 1% fewer than in 2017. Despite this slight reduction, the number of bankruptcies in Belgium is unfortunately still high, resulting in the loss of more than 18,000 jobs. 

 
Download our whitepaper

More bankruptcies in Brussels

In 2018, the number of bankruptcies in Wallonia fell by 6% to 2,606. There was also a 6% fall in Flanders, with 4,969 bankruptcies. In Brussels, however, the number of bankruptcies rose by 15% to 3,102. The largest number of bankruptcies occurred in the province of Antwerp. The smallest number occurred in the province of Luxembourg.

Hotels, restaurants and catering still at the top

The hotel, restaurant and catering sector, which was overtaken by the construction sector halfway through the year, is the sector most affected by bankruptcies in Belgium, with 1,999 bankruptcies in 2018, which is 7% fewer than in 2017. Reductions have also been seen in the wholesale (-8%) and retail (-9%) sectors. The number of bankruptcies increased, however, in the construction sector (+2%) and in the car industry (+14%).

Over 25% of insolvencies result from non-payment by customers

Did you know that only 1/3 of businesses pay their suppliers on time? That means 2/3 of businesses suffer from late payments or even unpaid bills. Unpaid bills are a threat to cash flow for businesses. To avoid running short of cash and the resulting risk of bankruptcy, it is therefore essential to protect your business.

Protect your business from unpaid invoices and bankruptcy

A credit insurance policy protects you from unpaid invoices and from your customers going bankrupt. You are guaranteed to receive payment for your products and services, even if the customer goes bankrupt. In the event of non-payment, Euler Hermes will pay your claim after 60 days.

20 results

Sep 07, 2020 | Non-payment

What CFOs are learning from the crisis

In the spring of 2020, Euler Hermes conducted a large-scale survey amongst over 1,000 CFOs. How are they experiencing the impact of COVID-19? The result is a nuanced picture. More in this article.

Aug 31, 2020 | Non-payment

Bankruptcy risk: prevention and cure

The predicted increase in the number of bankruptcies has been further aggravated by COVID-19. How can you protect your company against this increased risk? Prevention and cure is the message.

Aug 25, 2020 | Covid-19, Non-payment

World after Covid

In May 2020, Matt Williams arrived at Euler Hermes BeLux as the new Risk Director. Three months later, we put to him 5 questions about the world during and (probably) after Covid.

20 results

Subscribe to our Newsletter CONTACT US TODAY +32(0)2 289 31 11