While the financial health of households in Belgium is improving, more than half (54%) are still financially vulnerable or unhealthy, according to data from Deloitte’s latest Financial Health 2025 report.
Clear improvement is visible in the average financial health of the population, as 46% of households in the country are now considered financially resilient – up from 36% in 2022. However, more than half remain financially unhealthy or vulnerable in 2025, the report found.
"The gains are largely driven by external economic factors. 2022 was a year of shocks, notably the war in Ukraine and the energy crisis," said Kasper Peters, Financial Services Leader at Deloitte Belgium, in a press release. "In 2025, easing inflation, salary indexation, and the normalisation of energy prices have improved household expenses and purchasing power."
As a result, families feel more secure, better able to pay bills, and increasingly confident about savings and large purchases – even though these improvements are not yet translating into lasting behavioural change. "To ensure sustained progress, further attention is needed across all six domains of financial health: income, expenses, savings, debts, planning, and financial skills."
Credit: Belga
The report measures financial health using a composite score of up to 100, and sorts households into four categories: financially unhealthy (0–43), financially vulnerable (43–59), financially adequate (59–74), and financially healthy (74–100).
Compared with 2022, the national average financial health score has risen from 54 to 59 out of 100 – meaning that the typical Belgian household can now be considered financially resilient.
Regionally, Wallonia experienced the strongest improvement, followed by the Brussels-Capital Region. In Wallonia, the share of financially unhealthy households fell from 40% to 27%, while the share of healthy households more than doubled from 5% to 11%.
Brussels followed a similar trend, with financially unhealthy households down from 31% to 23%, while the share of financially healthy ones rose from 11% to 18%.
Flanders, already more resilient in 2022, showed continued but more modest improvement: the share of financially healthy households increased from 16% to 22%, while financially unhealthy households decreased from 20% to 16%.
One in four saves at least €500 per month
Among the six domains analysed, savings and expenses showed the strongest improvement. In 2025, a quarter (26%) of Belgian households report saving at least €500 per month – up from 19% in 2022.
At the same time, the share of households that are unable to save at all (or save less than €100 per month) has dropped from 36% to 30% – marking a shift toward more stable financial buffers and greater future resilience, according to Deloitte.
These improvements in saving behaviour go hand in hand with a decline in financial stress around everyday expenses: the proportion of households that report having trouble paying bills has decreased by 8 percentage points. The number of people who had to adjust their spending due to rising costs has also fallen significantly.
"These changes are closely linked to the economic recovery over the past three years. With inflation easing and wages being indexed, households have regained purchasing power," said Peters.
While utility and grocery prices are still high in 2025, they have stabilised compared to the volatility experienced during the 2022 energy crisis. "As a result, more households are regaining control over their financial situation and rebuilding their capacity to plan and save," he added.
A logo of the National Bank of Belgium. Credit: Belga / Jonas Roosens
Belgium’s overall financial health has improved, but the pace of progress differs significantly across demographic groups: women have shown strong gains across savings, debts, and expenses.
Nearly half (44%) are now financially resilient compared to 33% in 2022, and the share of financially unhealthy women has dropped from 32% to 22%. For men, that figure stands at 18%.
However, Belgians who grew up in households with financial difficulties are improving more slowly than others. While their peers improved by 10 percentage points, this group advanced by just 2 points – likely due to fewer financial role models and opportunities during childhood.
Young adults (under 35 years old) remain the most financially unhealthy age group, despite general improvements driven by savings. Older age groups, particularly those aged 35 to 54, saw the biggest gains across nearly all financial domains.
Singles also continue to face disproportionate challenges: only 12% of single-person households are financially healthy, compared to 22% of those with partners. Two-thirds of singles remain financially unhealthy or vulnerable.
A call for coordinated action
Deloitte's 2025 findings confirm that financial health is "not just a personal challenge," but a "shared responsibility across the entire ecosystem."
Since 2022, Belgium has seen a wave of targeted initiatives to support financial resilience. Financial institutions have introduced smarter digital tools for budgeting, saving, and tracking expenses. The Financial Services and Markets Authority's (FSMA) WikiFin platform has expanded its offering with practical guides, simulations and workshops for all ages.
Meanwhile, employers are increasingly investing in workplace programmes that boost financial wellbeing. At the European level, the Financial Competence Framework and Financial Education Day aim to raise financial literacy across Member States.
Despite these advances, Deloitte calls for continued collaboration across financial institutions, regulators, employers, educators, and policymakers. "Improving financial health means more than solving today’s issues. It is about building lasting resilience through joint action. From banks to schools to policymakers, everyone has a role to play in helping Belgians take charge of their financial future."
