As of December 30, 2025, 11,837 companies had already gone bankrupt. These figures are not yet final; the final count will likely come slightly closer to 12,000, without actually crossing that threshold. This represents an increase of 5.9% compared to 2024. Including judgements rulings concerning partners in unlimited liability companies – totaling 375 – the number already rises to 12,212.
The construction, transport, and hospitality sectors were the hardest hit. This is not surprising in itself, but some segments show notable increases compared to 2024.
It is noteworthy that cafés and limited-service catering performed relatively well, with a declining number of bankruptcies. In contrast, general construction, electrotechnical installation works, and road freight transport saw strong increases.
This rise is particularly evident in Brussels, which recorded 2,208 rulings – an increase of 13.23% compared to the previous year. However, this mainly represents a correction, as the number of rulings in recent years had been historically low. In Flanders, a record 6,854 bankruptcies were recorded, up 7.77%, while in Wallonia, 2,729 rulings represented a decrease of 3.02%.
These figures should be viewed in perspective. Belgium currently has 1,575,898 active companies, meaning the failure rate remains low and fully manageable at 0.75%.
The dynamism of the economy is also reflected in the number of newly established companies. At the start of 2025, this number was not yet fully stable, but it currently stands at 133,415 and is expected to end at a level comparable to 2024, when 135,075 new companies were created. 2025 is therefore not an exceptional year, but not a bad one either.
Looking at the sectors, it is clear how service-oriented the economy is. Only 2.31% (3,080 companies) belong to the industrial sector, while headquarters and management consultancy alone account for 7,524 startups, or 5.64% of the total. Human health services are the most popular, with 13,213 startups, representing 9.90% of the total.
Regarding business closures, the total reached 104,723, 8.3% fewer than in 2024 and even slightly less than the 107,633 closures in 2023. This appears largely demographic: slightly fewer self-employed individuals ended their activities in 2025, likely because many baby boomers have now retired.
The country continues to create more companies each year. With a provisional positive balance of 28,692, 2025 can be considered a stable year – more acceptable than worrying.
Europe’s geopolitical situation remains uncertain and is expected to stay that way throughout 2026. The euro has strengthened against the US dollar, and long-term interest rates are expected to rise. This is not favorable for exports. Profit margins are under pressure, and government budgetary measures will inevitably impact domestic consumption.
At the same time, the development of new technologies is likely to accelerate further, with increasingly practical applications supported by artificial intelligence. Companies will again need to work hard in 2026 to remain profitable. One commonly used measure at present is staff layoffs, a trend affecting nearly all medium and large companies across sectors.
Even more concerning in the long term is the postponement of many investment projects. As always, the strongest and most dynamic companies will increase their market share, while weaker ones will be absorbed or cease operations. Increasingly, companies will need to combine two often conflicting qualities: the agility of SMEs and the firepower of large groups. A significant challenge, but also an opportunity for those who can adapt.