Brussels companies have problems paying bills on time

Summary

Business in the Brussels-Capital Region have a harder time paying invoices on time than the other regions, according to consultancy Graydon

Terrorism one reason

Companies in the Brussels-Capital Region have the poorest record in the country for paying invoices on time, according to figures from business consultants Graydon. Nearly one in 10 companies is unable to pay its creditors within 90 days.

In the second quarter of 2016, almost 65% of companies in Belgium paid their bills on time, fewer than in the first quarter and fewer than the same period last year, Graydon said. “On time” means within 90 days, said the consultancy.

Some 15% pay within 30 days; 6% make it within 60 days, and 3% take a full 90 days. Some 9.3% had not paid within 90 days. That’s the highest figure since the second quarter of 2013, when the number topped 10%.

Graydon pointed to the terrorist attacks as one reason that the number increased. “It created economic damage and limited immediate income,” a spokesperson said. “That affected the ability to pay invoices on time.”

Companies did better in Flanders, but the Flemish government posted some of its worst figures ever, Graydon said, with just 43% of its bills paid on time in the second quarter.

Photo: Ingimage