The State of Belgian Tech Report 2025

Explore the State of Belgian Tech Report, combining current data analysis with an extensive founder survey and a series of in-depth interviews with leading entrepreneurs and investors.

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Insights

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The Belgian ecosystem shows increasing signs of maturity, in spite of a broader slowdown in Belgium and Europe.
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• 50% increase in recorded seed rounds vs 2024
• 5.5x larger Series B funding vs 2018
• 5 unicorns, from 4 in 2024
• Over 50% of total investments went to AI tech funding
• Third-highest capital raised by Belgian funds in history

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