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Company financing in Belgium: Analysis using supply and use tables

Author

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  • Xavier Deville

    (National Bank of Belgium)

Abstract

The issue of how companies are financed, notably small companies, has been a recurring topic in the news and in numerous surveys and studies. It is especially relevant in the wake of the recent financial crisis. By using a table of aggregate revenue and expenditure developed by the Central Balance Sheet Office for individual companies, the article describes the characteristics of companies with a financing need at the end of their financial year and the reason for the need. Statistics are broken down by company size, sector and region. The article then looks at the external resources used to meet those financing needs and finds, notably, an increase in equity financing among small companies in recent years. The analysis is supported by various statistics supplied by the Central Corporate Credit Register and by recent qualitative studies.

Suggested Citation

  • Xavier Deville, 2013. "Company financing in Belgium: Analysis using supply and use tables," Economic Review, National Bank of Belgium, issue ii, pages 89-115, September.
    • Handle: RePEc:nbb:ecrart:y:2013:m:september:i:ii:p:89-115
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    File URL: https://www.nbb.be/en/articles/company-financing-belgium-analysis-using-supply-and-use-tables-1
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    References listed on IDEAS

    as
    1. David Vivet, 2012. "Results and financial situation of firms in 2011," Economic Review, National Bank of Belgium, issue iii, pages 69-99, December.
    2. V. Baugnet & M.-D. Zachary, 2007. "Belgian corporate finance in a European perspective," Economic Review, National Bank of Belgium, issue ii, pages 63-80, September.
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    More about this item

    Keywords

    corporate finance; financial crisis; accounting data;
    All these keywords.

    JEL classification:

    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
    • M49 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Other

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