May 12, 2022

According to Statbel, the Belgian statistical office, in March 2022, 922 bankruptcies were registered by the business courts. This is an increase of 25.3% compared to February 2022.

The number of registered bankruptcies in March 2022 is higher compared to the same month in 2021 (+52.4%) and in 2020 (+6.1%) but lower than the number of bankruptcies in March 2019 (-2.7%). This increase in the number of bankruptcies is partly due to the fact that the tax authorities have again issued summons in some provinces.

In comparison with February 2022, the number of bankruptcies increased in the Flemish Region (+40,8%) and in the Brussels-Capital Region (+37,2%). In both regions, this number represents an increase compared to March 2021 and March 2020. The 545 registered bankruptcies in March 2022 in the Flemish Region also imply an increase of 22,5% compared to March 2019. In this latter region, one has to go back to October 2013 (626) to find a higher number of bankruptcies.

The number of bankruptcies registered in March 2022 increased compared to February 2022 in all sectors, with ‘Information and communication’ (-3.4%) as the only exception. The strongest increase in the number of bankruptcies is registered in the following three sectors:

  • 123 to 182 in the ‘horeca’ sector (+59), which represents the highest number of bankruptcies since January 2020 (201);
  • 175 to 210 in trade (+35), where one has to go back to January 2020 (214) to find a higher number;
  • 146 to 180 in construction (+34), or the highest number of bankruptcies since December 2019 (188).

The number of jobs lost due to bankruptcies in March 2022 was 2,312. This represents a 30.5% increase compared to February 2022. This also means an increase of 21.3% and 0.2% respectively compared to March 2021 and March 2020, but a decrease compared to March 2019 (-33.3%).

At regional level, the number of job losses increased compared to February 2022 in the Flemish Region (+78.0%) and in the Brussels-Capital Region (+22.5%). Although the number of job losses in March 2022 in the Brussels-Capital Region represents a decrease compared to March 2021 (-0.8%) and 2020 (-13.0%), this is not the case in the Flemish Region (1,467). In the Flemish Region, one has to go back to August 2020 to find a higher number of job losses as a result of bankruptcies (1,795).

Compared to February 2022, the number of job losses increased in all sectors except for ‘Professional, scientific and technical activities’, where the number remained stable. The largest increase in job losses due to bankruptcies is registered in the following three sectors:

    • 95 to 264 in transportation and storage (+169), which is the biggest job loss since June 2020 (1,564);
    • 273 to 403 in the ‘horeca’ sector (+130), where one has to go back to June 2021 (457) to register more job losses;
    • 202 to 278 in industry and energy (+76), or the biggest job loss since August 2020 (278).

Source: Statbel, the Belgian Statistical Office
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