A new record for the number of bankruptcies in the first nine months of a year has been reached in Flanders, while the September figures also indicate an increase in the rest of Belgium.
From January to September, the number of bankruptcies in Flanders increased by 5.29% year-on-year, with a total of 4,896 closures, according to commercial information firm GraydonCreditsafe.
Wallonia saw a 5.91% increase and the Brussels Region experienced a 13.65% rise in bankruptcies over the same period.
Despite these increases, neither Wallonia nor Brussels reached the record levels seen in 2014, 2015, and 2019.
Across Belgium, there were 8,391 bankruptcies between January and September, almost 7% more than in 2023.
However, this is still lower than the record set in 2013 (8,942) or the 2019 figure (8,789).
The construction sector has been hit hardest, with 1,915 bankruptcies, representing one-fifth of the national total and a 19.39% increase compared to the same period in 2023.
