A whopping 2,911 bankruptcies from January to March this year resulted in the loss of 6,992 jobs, an increase of 13.04% compared to the first quarter of 2024, GraydonCreditsafe reported on Tuesday.
This trend is evident in Flanders, where 3,713 jobs were lost, a year-on-year increase of 9.95%, and in Brussels, where 1,723 jobs (+65.04%) were impacted.
On the other hand, in Wallonia, the number of job losses due to bankruptcies decreased by 13.38% in the first quarter of 2025.
The construction sector was the hardest hit with 695 companies shutting down, an annual increase of 8.79%, which set a new record.
The transport sector also saw a peak, with 191 bankruptcies during the period, up 10.99%.
Of the businesses that went bankrupt in the first three months of the year, 30.09% were “young companies” (less than five years old) - the lowest proportion in ten years.
After a slight decrease in February, when 1,019 bankruptcies were registered, 977 companies closed in March, a reduction of 52 units (5.05%) compared to March 2024.
However, in Flanders, March saw 595 bankruptcies, the highest number ever recorded for that month.
In Wallonia, there was a 13.14% annual decrease with 238 bankruptcies, and in Brussels-Capital Region, the number fell by 19.21% to 122 units.
