Every year, our analysts publish a statistical note on the business demographics in the Brussels-Capital Region. The report analyses business creations, closures, bankruptcies, relocations and entrepreneurial trends in order to gain a better understanding of the evolution of Brussels’ economic fabric.
Level of business creations remains high
With 15,672 new businesses set up in 2025, Brussels has seen a high level of business creations compared with previous years.
The reform of the rules governing access to professions, which came into force in early 2024 and removed the requirement to demonstrate basic management skills in order to set up a business, is likely to continue to have a positive impact on entrepreneurship in Brussels. This trend is particularly evident in certain sectors such as construction, transport and the hospitality industry, which have seen a significant influx of new entrepreneurs over the past two years.
Whilst this high number of start-ups is evidence of a certain entrepreneurial momentum, it remains to be seen to what extent these new businesses will manage to establish themselves within Brussels’ economic landscape over the long term, survive their first few years of operation, and contribute to job creation and added value in the Region.
A positive trend held back by a rise in business closures
However, this vitality must not obscure another reality: an increasing number of businesses are also closing down. In 2025, more than 12,000 business closures were recorded, marking a further increase following several years of steady growth.
Part of this trend is simply a matter of course: when there are more businesses, there are also more closures. But the scale of this increase goes beyond this simple demographic effect, and the succession of recent crises continues to weigh heavily on businesses in Brussels.
Bankruptcies continue to rise
In 2025, 2,190 Brussels-based businesses were declared bankrupt, nearly 14% more than in 2024. Although this figure remains below the level seen before the pandemic, it is nonetheless relatively high compared with previous years.
Retail, construction and the hospitality sector are once again among the sectors most at risk. The impact on employment is also becoming more pronounced: bankruptcies led to over 6,000 job losses in 2025, representing an increase of nearly 46% in one year.
Net balance of business creations is positive, but still falling
Despite the rise in business closures and bankruptcies, Brussels continues to create more businesses than it loses. In 2025, the balance remained positive, with 3,301 net creations.
However, this result is down on the previous year, and following the exceptional surge in 2024, net business creation is gradually returning to a more normal pace. Furthermore, Brussels’ entrepreneurial activity remains above the national average.
Contrasting trends across sectors
The development of Brussels’ entrepreneurial landscape continues to vary considerably from sector to sector. Whilst some sectors are still experiencing sustained growth, others are struggling to offset the rise in business closures and bankruptcies. The manufacturing industry is thus continuing to decline (businesses down by 2.4% in 2025), whilst the hospitality sector (-0.3%) and retail (-0.4%) are also seeing a slight fall in the number of businesses. Conversely, health and social work (+5.5%) and arts, entertainment and recreation (+4.9%) were among the most dynamic sectors of the year.
The most vulnerable sectors are hospitality and retail. Despite the continuing high number of new businesses being set up, these sectors remain at risk of closures and bankruptcies. In the hospitality sector, the bankruptcy rate stands at 5.1%, the highest among the main sectors of activity. Retail also accounts for nearly one quarter of bankruptcies in Brussels (23%) and remains the hardest-hit sector in absolute terms.
Conversely, construction and transportation and storage are still benefiting from the effects of the reform of the rules governing access to professions. Despite a sharp rise in business closures, the number of creations remains at historically high levels, enabling these sectors to continue to grow. The service sector, particularly professional, scientific and technical activities, as well as administrative and support services, also continues to demonstrate strong entrepreneurial momentum.
A resurgence in the migration deficit
Business demographics do not depend solely on creations and closures. The relocation of businesses between regions also plays an important role. In this regard, Brussels continues to face a well-known phenomenon: more businesses are leaving the Region than are moving there.
In 2024, this migration deficit was halved thanks to the arrival of numerous Flemish companies, encouraged by the reform regarding access to professions. However, the deficit has started to widen again from 2025, returning to a level similar to that of previous years (-800 businesses).
Nevertheless, with a migration rate of 4.96%, Brussels remains a major economic hub and the country’s most dynamic region in terms of migration.
The real challenge: helping businesses grow
The 2025 figures show that business creations remain high and that several sectors are continuing to show particularly strong growth. At the same time, the rise in business closures and bankruptcies serves as a reminder that setting up a business does not guarantee its long-term survival.
The challenge in the coming years will therefore be less about further increasing the number of new businesses and more about strengthening their ability to consolidate, withstand economic shocks and take the steps needed to help them grow. This issue is all the more important given that Brussels’ economic fabric consists overwhelmingly of very small businesses, which are often more vulnerable to economic difficulties. In this context, the real challenge is no longer simply to encourage the creation of businesses, but to enable them to grow, reach a critical size and become part of Brussels’ economic fabric over the long term. Beyond the start-up phase, it is therefore the ability to support these businesses as they consolidate and grow that will make the difference.
