Belgium’s Borrowing Trends: A Year in Review

The latest data from the Central Individual Credit Register reveals key insights into Belgium’s microeconomic landscape, based on information recorded in August 2023.

Number of Borrowers: A Slight Decrease

Belgium saw a marginal decrease in the number of borrowers compared to the previous year. In August 2023, there were 6,091,720 borrowers with at least one outstanding credit, marking a 1.0% decrease from the same period in 2022.

Credit Types: Consumer Credit Takes a Hit

Consumer credit saw a decline of 2.2% over the year, with 4,985,872 borrowers having this type of credit. On the other hand, mortgage loans saw a negligible increase of 0.2%, totaling 3,067,895 borrowers.

Credit Defaults: A Gradual Decline

The percentage of defaulting borrowers decreased from 4.5% in 2022 to 4.3% in August 2023. This positive trend is mirrored in the number of overdue credits, which declined by 4.4% over the year, with 264,884 borrowers having at least one overdue credit.

New Credit Trends: A Mixed Picture

New credit trends showed a decline of 6.6% in total new credits compared to the previous year. Consumer credit recorded an increase of 6.6%, while mortgage loans took a substantial hit, dropping by 39.8%.

Regional Insights: Flanders Takes the Lead

Flanders remained the region with the highest number of borrowers and outstanding credits, followed by Wallonia and the Brussels-Capital Region. Flanders saw a 0.9% decrease in borrowers over the year, while Wallonia experienced a 1.3% decrease.


Belgium’s microeconomic landscape shows a mixed picture in August 2023. While the number of borrowers and credit types experienced a slight decrease, credit defaults showed improvement. However, the significant drop in new mortgage loans warrants attention. Flanders continues to dominate the borrowing scene in the country.

For more detailed information, please refer to the Central Individual Credit Register’s latest report.