October 2019: 930 bankruptcies
In October 2019, 930 businesses in Belgium went bankrupt.
The bankruptcies resulted in a loss of 2,004 jobs: 1,040 full-time employees, 562 part-time employees and 402 salaried employers lost their jobs.
The number of bankruptcies in the last six months amounts to 5,204, a rise of 12.1% compared to the same period last year.
In the last six months, compared to the same period last year, the number of failed businesses in the industry sector rose by 15.4% In construction this number rose by 18.7%; whereas in commerce there was a rise by 7.4%. The hotel and catering industry rose by 5.3%. The number of bankruptcies in transportation and other services rose by 14.4%.
At regional level and in the same period there was a rise by 13.5% in the Flemish Region, a rise of 23.8% in the Walloon Region and a rise of 1.6% in the Brussels-Capital Region.
Purpose and brief description
The number of business bankruptcies in Belgium is based on information from the business register of the Directorate General Statistics of the FPS Economy supplemented by the statements of the commercial courts. Since January 1998, when the law of 8 August 1997 on bankruptcy and the law of 17 July 1997 on the composition of the court entered into force, the commercial courts send data concerning bankrupts to the Statistical Directorate.
Enterprises responding to the bankruptcy law
Timing of publication
Results available 20 days after the reference period
Legal person VAT :Legal form as defined according to VAT requirements (at all points in accordance with the Nomenclature Table LU_COM. TU_COM_LGL_PSN_VAT)
Number of bankruptcies : An enterprise is in a state of bankruptcy if two conditions are met: On the one hand, it must have durably ceased payments, i.e. it no longer pays his creditors. On the other hand, it must be uncreditworthy. In other words: it has lost creditors' confidence. The bank refuses to grant a loan for example. A company is obliged to acknowledge its bankruptcy within the month following the cessation of payments. This decision is taken by the board of directors or the manager.
Remark regarding bankruptcies - A bankruptcy always relates to one company. A legal construction in which several people have set up one company, such as with a VOF (partnership firm), can only give rise to one bankruptcy