Amsterdam, 29 April 2025 – The Dutch economy showed some positive signs in the first quarter of 2025, according to new figures from business data expert Altares Dun & Bradstreet. The number of bankruptcies declined, companies paid their invoices faster, and trading activity showed signs of recovery. Nevertheless, economic prospects remain uncertain, mainly due to the impact of geopolitical developments and economic factors.
Fewer bankruptcies in Q1 2025
In the first quarter of 2025, 852 bankruptcies were recorded, a 15% decrease compared to the previous quarter and a slight decline compared to the same period last year. This decrease indicates a stabilization following a sharp increase last year. Most bankruptcies occurred in the trade, construction, and specialized business services sectors. The highest number of bankruptcies was registered in the regions of South Holland, North Holland, and North Brabant.
Companies are paying faster
Dutch companies paid their invoices faster than in previous quarters. On average, invoices were paid 1.35 days after the due date, an improvement of 14.8% compared to the previous quarter. This is a positive development, as a year ago the average payment term was still 2.02 days. The greatest improvements were seen particularly in the wholesale, hotel, and transport sectors.
Business in the hospitality and retail sectors is picking up
After a period of declining trade activity, trade intensity rose to 91.2 in the first quarter of 2025. This increase indicates a recovery in economic dynamism, although the level still remains below that of January 2020. Compared to the same period last year, trade intensity grew most notably in restaurants and cafés (+19.8), trade (+14.6), and the financial sector (+7.9), while sectors such as industry (-13.5) and mineral extraction (-11.4) continue to lag behind.
Persistent uncertainty due to geopolitical factors
Although the figures show a slight improvement, economic uncertainty remains high. The global political situation, particularly the trade relations between the United States and China, continues to significantly impact European markets. How these tensions will develop is difficult to predict, especially given recent economic signals from the U.S. Energy prices also remain a concern, although the recent tax reduction on electricity — as outlined in the new government agreement — could offer some relief. However, the question remains to what extent this will help, as the tax credit is not being indexed.
"Based on recent months, the economic situation appears relatively stable in terms of bankruptcies, payment behavior, and trade intensity. However, this is no guarantee for the future. Global trade is under pressure, and ongoing geopolitical tensions pose a risk to our economy, which has seen cautious growth in recent quarters after a volatile period", says Barry de Goeij, senior data scientist at Altares Dun & Bradstreet. "Despite slight improvements in bankruptcy figures and payment behavior, companies remain cautious in their economic outlook."
