489 enterprises were declared bankrupt in Belgium in December 2020.
Bankruptcies registered in December resulted in 1,383 job losses: 621 full-time jobs, 567 part-time jobs and 195 salaried employers.
The sectors with the highest numbers of bankruptcies in December: 161 bankruptcies in transportation and other service activities, 114 in construction, 108 in wholesale and retail trade and 77 in accommodation and food service activities.
At regional level, there were 257 bankruptcies in Flanders, 135 in Wallonia and 97 in Brussels.
Analysis of the evolution of the number of bankruptcies and job losses in 2020
In 2020, 7,203 enterprises were declared bankrupt by the business courts. This is a 32.0 % decrease compared to 2019, where 10,598 bankruptcies were registered. Therefore, the year 2020 becomes the first year with the lowest number of bankruptcies since 2005.
This sharp decrease in 2020 is mainly due to the measures taken during the Covid-19 period to protect enterprises.
Indeed, a moratorium on bankruptcies, which protected enterprises that were healthy before 18 March 2020 from the effects of the Covid-19 crisis, was in force until 17 June 2020.
From 6 November onwards and due to the second wave of coronavirus, the government approved a new moratorium on bankruptcies until 31 January 2021 in order to protect enterprises that were obliged to temporarily close their doors following the ministerial decree published on 1 November 2020.
Between these two moratoriums, the tax administration and the NSSO spared, by a de facto moratorium, enterprises by not declaring them bankrupt due to tax and social debts.
Moreover, because of the Covid-19 crisis, many business courts and registries operated at reduced capacity and limited their activities until 18 May 2020.
Moreover, as every year, there was the judicial recess in July and August. Courts remained open during this period but the number of hearings was reduced.
Finally, many measures have been in force - at federal, regional and local level - to support enterprises in these times of crisis. For example the NSSO granted voluntary payment plans for a maximum duration of 24 months for the payment of all contributions and sums due for the year 2020. At the level of the FPS Finances, enterprises encountering financial difficulties due to the spread of the coronavirus could ask for support measures until 31 March 2021.