The net financial assets of Belgian households dipped slightly, by €8 billion, in the first quarter of the year compared to the end of 2024, totalling €1,256 billion, the National Bank of Belgium (BNB) revealed on Friday.
Financial assets declined by nearly €5 billion, while financial debts increased by €3.1 billion.
The reduction in financial assets was due mainly to declines in value, especially for investment funds (-€8.2 billion), insurance products (-€5 billion), and listed shares (-€1 billion).
In contrast, there were positive valuations, totalling €3.8 billion, in unlisted shares and other participations. The value of debt securities remained stable.
The BNB indicated that these value reductions mostly impacted the wealthiest 10% of Belgians.
Households' net investments remained strong at €5.6 billion during the first three months of the year. Investment funds were favoured, with net acquisitions of €4.5 billion.
About €2 billion went to insurance products.
As in the previous quarter, households continued withdrawing from term deposit accounts, taking out €6.4 billion, while favouring savings accounts with a net increase of €6.9 billion.
Debt securities faced net sales totalling €1.7 billion.
Finally, household financial liabilities increased by over €3 billion in the first quarter, reaching a total of €360.7 billion. This rise was due primarily to an increase in mortgage loans, which grew by €3.2 billion.
Related News
- Belgian Prime Minister wards off opposition criticism of capital gains tax
- Belgium's richest 10% have less net wealth than a decade ago
- 'Magnet for wealthy expats': More million-euro properties sold in Brussels last year
- Federal Government reaches agreement on capital gains tax: What does it mean?
- Women less inclined than men to invest, study shows
