The bankruptcy statistic

August 2019: 459 bankruptcies

Enterprises
August 2019: 459 bankruptcies

In august 2019, 459 businesses in Belgium went bankrupt.

The bankruptcies resulted in a loss of 1,144 jobs: 640 full-time employees, 322 part-time employees and 182 salaried employers lost their jobs.

The number of bankruptcies in the last six months amounts to 5,074, a rise of 16.5% 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 31.5% In construction this number rose by 18.3%; whereas in commerce there was a rise by 8.5%. The hotel and catering industry rose by 16.3%. The number of bankruptcies in transportation and other services rose by 18.6%.

At regional level and in the same period there was a rise by 16.1% in the Flemish Region, a rise of 28.4% in the Walloon Region and a rise of 8.3% 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.

Population

Enterprises responding to the bankruptcy law

Frequency

Monthly.

Timing of publication

Results available 20 days after the reference period

Definitions

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.

Remarks

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

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