In Brussels, company courts declared 1,711 bankruptcies last year. This is evident from data from trade information office GraydonCreditsafe. This made Brussels the only region that experienced a decrease in 2023 compared to 2022.
The number of bankruptcies fell by 5.19 percent in Brussels. The sectors in which the most bankruptcies were declared were garage owners and the food industry.
In both Wallonia and Flanders, the number of bankruptcies increased compared to 2022, by 21.36 percent and 10.66 percent respectively. In Wallonia there were a total of 2,670 rulings last year. In Flanders there were 6,234, the highest number ever.
There has been a double-digit increase in all Flemish provinces, except in Antwerp. This represents a decrease of almost 8 percent compared to 2022, a record year in the province.
An outlier is Flemish Brabant, where almost 60 percent more companies have filed for bankruptcy. GraydonCreditsafe attributes this significant increase mainly to the extensive cooperation between the court and the public prosecutor’s office in the hunt for fraudulent companies.
This article is originally published on bruzz.be