BRUSSELS — Nearly 11,000 jobs were lost in Belgium between January and April 2025 due to a wave of bankruptcies, according to figures released by the national statistics agency Statbel. A total of 10,936 employees were affected as 3,968 companies were declared bankrupt during the first four months of the year.
April alone saw 982 companies go under — a 6.2% increase compared to April 2024, marking the highest number of bankruptcies in that month since 2013. The data suggests a continuing trend of economic pressure on small and medium-sized enterprises (SMEs) across several sectors.
The hospitality industry has borne the brunt of the closures, with 2,396 job losses reported in bars, restaurants, and hotels during the four-month period. The construction sector also saw significant upheaval, with 1,816 jobs lost, followed by the transport sector, which registered 1,198 job losses.
Despite a marginal decline in overall job losses compared to the same period in 2024 — when 11,520 positions were lost — Statbel noted that last year’s figures were heavily influenced by the bankruptcy of Van Hool, the iconic Belgian bus manufacturer. That single case accounted for over 1,500 job losses and skewed the data for early 2024.
The new figures come amid growing concerns about inflation, rising energy costs, and declining consumer confidence, all of which are placing additional strain on businesses still recovering from the effects of the COVID-19 pandemic and broader global economic instability.
Experts warn that while large-scale bankruptcies like Van Hool are headline-grabbing, the rising number of smaller business closures may be more indicative of a systemic issue in Belgium’s economic fabric.
“The increasing number of bankruptcies, especially in sectors such as hospitality and construction, reflects underlying structural challenges,” said Koen De Leus, chief economist at BNP Paribas Fortis. “These industries are highly sensitive to changes in consumer demand, interest rates, and regulatory burdens.”
Statbel’s data also highlighted regional disparities. While all three regions — Flanders, Wallonia, and Brussels — experienced an uptick in bankruptcies, Brussels saw the sharpest increase in closures, particularly in the hospitality sector. Analysts attribute this to changing work patterns, including the rise of remote working, which has reduced daytime foot traffic in the capital’s business districts.
In response to the growing number of bankruptcies, industry groups have called for targeted government intervention to support struggling businesses. The Belgian Union of Self-Employed Entrepreneurs (UNIZO) urged the federal government to reduce administrative burdens, extend temporary tax relief, and offer flexible loan arrangements to prevent further closures.
As Belgium heads into the second half of 2025, all eyes will be on whether these troubling trends continue — and how swiftly policymakers act to stem the tide of business failures. With thousands of livelihoods at stake, the country’s economic resilience is once again being put to the test.
