B2B payment practices trends in Belgium 2025

Why are businesses in Belgium tightening B2B payment risk strategies?

Liquidity strain threat prompts switch towards strategic management of payment risk

Managing payment risks from business-to-business (B2B) trade on credit has become far more challenging for companies in Belgium compared to the same period last year. The number of businesses experiencing delayed customer payments has risen by 75%, with overdue invoices also following an upward trend. These now affect more than half of all B2B credit sales. Payment delays are largely driven by the efforts of companies to preserve liquidity by balancing cash inflows and outflows. 

Across industries, twice as many companies as last year now report worsened Days Sales Outstanding (DSO), reflecting a longer wait for customer payments that reduce available working capital. 54% of companies have turned to invoice financing to free up cash, but rising costs or limited access may threaten the sustainability of this strategy. A combined approach to payment risk management, using provisioning and credit insurance, is a common strategy among companies in Belgium. However, over-reliance on internal reserves can increase liquidity pressure, underscoring the need for strategic long-term risk management solutions.

What are the concerns for Belgian businesses in the coming months?

Volatile economic climate fuels strong expectation of soaring insolvency risk 

Nearly 70% of companies in Belgium anticipate a rise in B2B customer insolvencies in the coming months, reflecting a growing concern about financial vulnerability and the critical need to maintain healthy cash flow. Further anxiety over the outlook for payment risk in B2B trade on credit is highlighted by 50% of businesses who expect a worsening of Days Sales Outstanding (DSO). 

Amid the widespread concern about worsening B2B payment risks, almost all companies surveyed in Belgium plan to use a mix of in-house and outsourced credit risk management in the year ahead. 

Industry insights

Construction industry

The Belgian construction industry is facing growing pressure on liquidity, driven by rising late payments and a more relaxed credit policy. B2B sales on credit have increased by 10%, heightening exposure to customer payment risks. Although bad debts have slightly decreased, late payments from B2B customers have surged by 45%. This rise in late payments is likely due to extended payment terms being offered by more companies. It has also resulted in extended Days Sales Outstanding (DSO), indicating slower payment collections and tying up liquidity in receivables. 

Key industry figures and charts are provided in the report available for download below on this page.

Machinery industry

The proportion of B2B sales on credit has more than doubled compared to last year, with a widespread offering of more flexible payment terms to maintain strong customer relationships. This shift has led to increased exposure to payment risks, but many companies have mitigated the negative impact by reporting faster cash inflows. Late payments now affect 50% of B2B invoices, a slight improvement from last year. While bad debts have decreased, cash flow challenges remain, prompting companies to extend Days Payable Outstanding (DPO). There has also been an increase in stock days, suggesting that slower inventory turnover is tying up significant working capital.

Key industry figures and charts are provided in the report available for download below on this page.

Steel/metals industry

Rising bad debts, coupled with stable levels of B2B late payments, are creating increasing financial pressures for businesses in the steel/metals sector. In an effort to remain competitive and sustain revenue, companies are expanding their credit offerings while keeping customer payment terms relatively unchanged. However, as bad debts continue to grow, more businesses are delaying payments to suppliers to preserve liquidity, further straining financial resources. This issue is compounded by significant inventory build-up, which ties up cash and limits the funds available for day-to-day operations. 

Key industry figures and charts are provided in the report available for download below on this page.

Interested in finding out more?

For a complete overview of the 2025 survey results for Belgium, download the full report available in the related documents section below.

To explore more on how these insights can strengthen your own credit risk strategy, speak with us at Atradius to see how we can help you stay ahead.