Checked Barometer November 2025
Edition of 26 September 2026 · KBO · Belgian Official Gazette
In November 2025, the Belgian Official Gazette published 950 bankruptcies, 0.5% more than in November 2024. In November 2025, 10,186 companies were incorporated, 22% more than in November 2024.
This edition was compiled on 26 September 2026, after its regular publication date (6 December 2025). The figures are that day's count and no longer change.
Bankruptcies
950
+0.5% year on year-19% month on month
10,875 over twelve months
Judicial reorganisations
35
-33% year on year-27% month on month
516 over twelve months
Judicial dissolutions
353
-11% year on year+1.4% month on month
3,778 over twelve months
In brief
Sentences taken straight from this edition's figures. Credit Checked.be as the source.
Incorporations
- In November 2025, 10,186 companies were incorporated, 22% more than in November 2024.
- Compared with October 2025 (19,865), that is 49% fewer.
- Over the twelve months from December 2024 to November 2025 there were 136,570, 14% more than the twelve months before.
Bankruptcies
- In November 2025, the Belgian Official Gazette published 950 bankruptcies, 0.5% more than in November 2024.
- Compared with October 2025 (1,169), that is 19% fewer.
- Over the twelve months from December 2024 to November 2025 there were 10,875, 3% more than the twelve months before.
- By area: 468 in Flanders, 200 in Wallonia and 282 in Brussels and Halle-Vilvoorde.
Judicial reorganisations
- In November 2025, the Belgian Official Gazette published 35 judicial reorganisations, 33% fewer than in November 2024.
- Compared with October 2025 (48), that is 27% fewer.
- Over the twelve months from December 2024 to November 2025 there were 516, 2.8% more than the twelve months before.
Judicial dissolutions
- In November 2025, the Belgian Official Gazette published 353 judicial dissolutions, 11% fewer than in November 2024.
- Compared with October 2025 (348), that is 1.4% more.
- Over the twelve months from December 2024 to November 2025 there were 3,778, 17% fewer than the twelve months before.
By region
November 2025, with the change on the same month a year earlier.
| Area | Incorporations | Bankruptcies | Judicial reorganisations | Judicial dissolutions |
|---|---|---|---|---|
| Flanders | 4,746+11% | 4680% | 7-46% | 90-28% |
| Wallonia | 2,763+49% | 200-16% | 18-14% | 64-39% |
| Brussels and Halle-Vilvoorde | 1,974+15% | 282+18% | 10-44% | 199+20% |
| No known area | 703+38% | 0 | 0 | 0 |
| Belgium | 10,186+22% | 950+0.5% | 35-33% | 353-11% |
The Brussels courts also serve Halle-Vilvoorde, so that arrondissement counts with Brussels. Incorporations follow the registered office (for a sole trader, the first establishment).
Bankruptcies by sector
November 2025 against November 2024. Main activity according to the KBO (NACE 2025).
November 2025
November 2024
- Construction ≥ 124
- Accommodation and food service ≥ 124
- Wholesale and retail trade ≥ 104
- Transport and storage ≥ 50
- Administrative and support services ≥ 49
- Professional and technical services ≥ 40
- Manufacturing ≥ 33
- Other services ≥ 31
- Real estate ≥ 21
- Telecoms and IT ≥ 14
Show all 18 sectors
- Arts, sports and recreation ≥ 8
- Education ≥ 5
- Health and social work ≥ 4
- Energy ≥ 3
- Finance and insurance ≥ 3
- Agriculture, forestry and fishing ≥ 2
- Publishing and media ≥ 2
- Water and waste ≥ 1
The sector is known for 65% of the cases of November 2025 (332 without a sector). Hence no change per sector. This edition kept no count of active companies, so no figure per 10,000.
Incorporations by sector
November 2025 against November 2024. Main activity according to the KBO (NACE 2025).
November 2025
November 2024
- Professional and technical services ≥ 1,493
- Wholesale and retail trade ≥ 1,073
- Construction ≥ 1,035
- Other services ≥ 705
- Administrative and support services ≥ 664
- Telecoms and IT ≥ 445
- Accommodation and food service ≥ 435
- Health and social work ≥ 385
- Transport and storage ≥ 350
- Manufacturing ≥ 332
Show all 22 sectors
- Arts, sports and recreation ≥ 311
- Education ≥ 243
- Real estate ≥ 213
- Finance and insurance ≥ 112
- Agriculture, forestry and fishing ≥ 108
- Publishing and media ≥ 101
- Households ≥ 53
- Energy ≥ 15
- Water and waste ≥ 10
- Mining and quarrying ≥ 1
- Public administration ≥ 0
- Extraterritorial organisations ≥ 0
The sector is known for 79% of the cases of November 2025 (2,102 without a sector). Hence no change per sector. This edition kept no count of active companies, so no figure per 10,000.
Notable sectors
The largest shifts against November 2024, from 10 cases and a difference of 5 cases.
For bankruptcies, the sectors of this month and of November 2024 are not equally well known (65% and 48%); a comparison per sector would measure our coverage, not the economy.
For incorporations, the sectors of this month and of November 2024 are not equally well known (79% and 77%); a comparison per sector would measure our coverage, not the economy.
Cite these figures
This page no longer changes: the link keeps pointing at the same figures.
Checked.be, Checked Barometer November 2025 (edition of 26 September 2026), https://checked.be/en/barometer/2025-11
How these figures are counted
- An edition appears on day 6 of the next month, so the last days of the month are processed, and is then frozen: the figures on this page no longer change. If data for the month arrives later, it is listed above under Revisions.
- Incorporations: companies per month of their start date in the Crossroads Bank for Enterprises, sole traders included.
- Bankruptcies, judicial reorganisations (opening) and judicial dissolutions: by month of publication in the Belgian Official Gazette, not of the judgment.
- Sectors: the main activity (NACE 2025) the KBO gave the company. Where the sector of part of the cases is unknown, the figure carries "≥" and we compare per sector only when both months are equally well known.
- Per 10,000 active companies: the month's figure against the sector's active companies on the day the edition was frozen.