Over 30% more bankruptcies in Netherlands last year

The number of bankruptcies increased significantly in 2024 compared to the previous year. According to Statistics Netherlands (CBS), almost 4,300 companies were declared bankrupt last year. That is an increase of 30 percent compared to 2023 when the number of bankruptcies was nearly 3,300. The number of bankruptcies in 2024 was the highest in eight years.

Bankruptcies increased in almost all sectors compared to 2023. As in previous years, trade had the most bankruptcies in 2024 at 811. The construction industry followed with 618 and specialist services with 509 bankruptcies. These sectors are also the largest in terms of the number of companies.

In absolute terms, the increase in bankruptcies was the strongest in specialist services. In 2024, 157 more companies and institutions went bankrupt in this sector than in 2023. The number of bankruptcies was especially higher among group holdings, group services, management consultancies, architectural firms, and engineering firms. With an increase of 139 bankruptcies, the construction industry had the second-highest increase. The increase is mainly attributable to specialized construction, including construction installation and finishing companies. In trade, the increase was 129. This mainly concerned wholesale companies.

In almost all provinces, more companies were declared bankrupt in 2024 than in 2023. The rise was the largest in Noord-Holland with 222 companies. Zuid-Holland and Noord-Brabant followed. These three provinces also have the most companies.

Bankruptcies peaked in the Netherlands at 9,431 during the euro crisis in 2013. The lowest number recorded was 1,818 bankruptcies in 2021. From that year onwards, the number of bankruptcies gradually increased again. According to CBS, the number of bankruptcies in December was lower than in the same month a year earlier. That was the first time this happened since April 2022.