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NACE 18120 · division 18 Printing
Current registrations 1,578division 18: 4,940
Starters, 12 months 1358.6 per 100 · Belgium 8.9
Bankruptcies, 12 months 53.2 per 1,000 registrations · Belgium 6.2
Employment (FTE) 5,441188 employers · latest accounts
Median age 15.7 yearsBelgium 8.1 years
E-invoicing via Peppol 88.0%1,388 of 1,578 companies in the Peppol Directory · Belgium 85.0%

Filed accounts

NACE 18120 · financial year 2025 · 805 filed annual accounts
Median solvency
44.0%
division 46.6% · Belgium 46.1%
Median net result
€10,240
division €8,358 · Belgium €16,520
Median equity
€137,254
division €93,613 · Belgium €98,421
Loss-making
30.6%
division 31.9% · Belgium 26.7%
Negative equity
11.8%
division 13.7% · Belgium 12.4%
Median return on equity
9.3%
division 9.8% · Belgium 15.9%
Median liquidity
1.52
division 1.64 · Belgium 1.66
Filed late
37.6%
financial year 2024, 805 filings · division 38.0% · Belgium 38.4%
Missing or 90 days late
3.4%
of 848 companies with annual accounts · division 3.8% · Belgium 5.4%
Per financial year202020212022202320242025
Median solvency 35.9%38.3%39.0%40.4%42.6%44.0%
Median net result €5,719€10,223€12,580€12,907€13,971€10,240

Hold your customer's or competitor's figures against them in the Sector benchmark

Bankruptcies

Bankruptcies, 5 years, still registered
23
1.46% of the registrations · Belgium 1.68%
Running bankruptcies
28
17.7 per 1,000 registrations

Recent bankruptcies

Date Company
21-10-2026 DRUKKERIJ HANSSENS
BE 0461.403.462
02-09-2026 CADAM
BE 0558.916.572
19-05-2026 Buisseret, Thierry
BE 0881.421.479 · sole trader · Hastière
24-12-2025 ANHAD GROUP
BE 0757.881.685
07-11-2025 B&O PACKAGING
BE 0751.825.818
03-06-2025 WE ARE BIRDS
BE 0848.842.743
27-01-2025 CREAPUB INTERNATIONAL
BE 0470.412.683
20-11-2024 Hizir
BE 0548.944.774

Every bankruptcy in division 18, last 90 days

Spread across the country

by region and province · 999 of 1,578 enterprises with a registered office on file · a sole trader has no published seat
  • Flanders 683 · 68.4%
  • Wallonia 240 · 24.0%
  • Brussels 65 · 6.5%
  • Abroad 11 · 1.1%
fewer moremax 177

Largest employers

NACE 18120 as first main activity · staff from the latest accounts
  1. 1 MCC VerstraeteMaldegem 477 FTEfinancial year 2025
  2. 2 SPEOS BELGIUMBrussels 221 FTEfinancial year 2025
  3. 3 SYMETA HYBRIDLeuven 217 FTEfinancial year 2026
  4. 4 Reynders EtikettenBoechout 194 FTEfinancial year 2025
  5. 5 GraphiusGhent 187 FTEfinancial year 2025

Joint committees

from the latest accounts of 361 companies
  • 200 Auxiliary committee for white-collar workers 266
  • 130 Printing, graphic arts and newspapers 237
  • 100 Auxiliary committee for blue-collar workers 28
  • 201 Independent retail 18
  • 136 Paper and cardboard processing 12
  • 222 White-collar workers in paper and cardboard processing 10
  • 109 Clothing and garment industry 2
  • 120 Textile industry 2
Show the 10 others
  • 207 White-collar workers in the chemical industry 2
  • 227 Audiovisual sector 2
  • 116 Chemical industry 1
  • 142.03 Recovery of raw materials 1
  • 149.01 Electricians: installation and distribution 1
  • 149.04 Metal trade 1
  • 215 White-collar workers in the clothing and garment industry 1
  • 221 White-collar workers in the paper industry 1
  • 323 Building management, estate agents and domestic staff 1
  • 335 Services and support for business and the self-employed 1

Source: the annual accounts at the National Bank. One filing can name more than one committee.

Division 18: Printing

Related activities

3 other activities
Activity Registrations Starters, 12 months Bankruptcies, 12 months FTE
Pre-press and pre-media services18130 2,791 52 7 1,306
Printing and reproduction of recorded media18110 189 1 4 993
Printing and reproduction of recorded media18140 165 7 3 380

Bankruptcies per year in division 18

Per year201520162017201820192020202120222023202420252026
Bankruptcies544938403929322930273020
Jobs lost16417698170457165117117646683125

2026 through August. Every bankruptcy, also of companies that have since left the register. Source: Statbel (Directorate-General Statistics), NACE classification of 2008.

Staff cost per FTE in NACE division 18

307 employers
Median
€62,600
Belgium €61,400
Middle half
€53,500 to €72,500
half of the employers lie between
Place among sectors
52 of 78
sectors with a median staff cost per FTE, highest first
By size class
SizeMedianMiddle halfEmployers
fewer than 10 FTE €59,100 €48,500 to €66,800 160
10 to 49 FTE €66,800 €59,200 to €73,300 109
50 to 249 FTE €72,700 €60,600 to €78,900 37

Running bankruptcies in the sector

NACE division 18
Number
57
Half have run longer than
31 months
Belgium: 20 months
Longer than three years
40%
Belgium: 31%

Measured nationally: Of 108,562 bankruptcies of legal entities across Belgium, 49% were closed within five years for insufficient assets and 28% after liquidation, 3% were withdrawn. After five years, 20% were still open. Half had ended after 26 months (a quarter after 15, three quarters after 51 months).

This counts companies with this main activity in the register on 6 November 2026. The outcome itself is not measured by sector. The activity of a company that leaves the register after its bankruptcy is too often not kept to compare closed cases fairly.

Outcome by court and division

3 of the 2,251 companies in NACE division 18 have a parent company abroad. Main parent countries: Germany (1), Netherlands (1) and Sweden (1). Together they employ 259 of the division's 8,140 FTE: 3.2%, against 14% for Belgium as a whole.

Subsidies in this sector

per register · legal entities with an enterprise number
  • Flemish subsidies €9.1m awarded 383 recipients · 2022 to 2025 · largest: Projectsubsidie voor een initiatief in de audiovisuele of gamesector (Decreet Vlaams Audiovisueel Fonds 1999)
  • Federal transfers 50 amount as published 1 recipient · 2024 · largest: Toelage kosten werkstraffen (kledij, preventie)
  • Wallonia-Brussels Federation €3.2m paid 11 recipients · 2021 to 2025 · largest: Unnamed in the register
  • EU budget €3.6m attributed share 4 recipients · 2022 to 2025 · largest: Horizon Europe
  • EU research €3.0m EU contribution 2 recipients · 2024 to 2026 · largest: Horizon Europe

Explore every recipient in this sector

Insights on Other printing

Balance sheet and result. Return on equity of 9.3% is below Belgium's 15.9%. The median net result of €10,240 is below Belgium's €16,520. 30.6% of the annual accounts close with a loss, against 26.7% in Belgium.

Bankruptcies. In 12 months, 3.2 of 1,000 companies went bankrupt, against 6.2 in Belgium. That is fewer than in 64% of the 88 NACE divisions. The median bankruptcy probability of 0.3% is above Belgium's 0.2%.

Inflow and structure. Half of the companies are younger than 15.7 years, against 8.1 years in Belgium. 36.7% of the companies are sole traders, against 41.6% in Belgium. This activity holds 31.9% of the registrations of Printing.

Staff and filing. The 5 largest employers hold 1,296 of the 5,441 FTE: 23.8%.

Direction. Median solvency rose from 35.9% in financial year 2020 to 44.0% in financial year 2025. The median net result rose from €5,719 in financial year 2020 to €10,240 in financial year 2025.

The comparison with Belgium as a whole and with the other divisions is as of 06-11-2026 05:30.

Method and sources

Every company registered today counts under its main activities in the KBO. Establishment units do not count. Staff counts once, under the employer's first main activity, from its latest accounts and only where it fits the staff costs. The count follows the NACE 2025 classification, the version in which code 18120 exists.

The bankruptcies over five years count only companies still registered today, because the activity of a company that left the register is not kept. So they are fewer than the bankruptcies of those years, and the figure is not a probability for the future. Over twelve months the count is nearly complete, because a bankrupt company stays registered while its bankruptcy runs. A company with more than one main activity counts in each of those sectors.

The comparison with Belgium as a whole and with the other NACE divisions rests on an overview of every division, counted again each night. Each division is counted in the version of the NACE classification in which it exists. A standing such as "more than in 80%" compares with the other divisions that have the figure. A division's bankruptcy probability is the median over its companies with a score. Belgium here counts the 1,276,581 companies with a main activity, because only those belong to a division. The other 698,987 registrations publish no activity.

Each median is the value of the middle company, computed over the annual accounts of financial year 2025, and is shown only from 30 accounts. A share (loss-making, negative equity) counts that year's accounts with that trait. Accounts are late when they are filed after the statutory deadline. The direction per financial year follows the companies still registered today. Missing or 90 days late counts the companies with accounts missing today, or whose latest were filed more than 90 days after the deadline. The dossier follows the same rule.