Financial media in Belgium: markets, banks and the taxation of savings

For Belgian finance, the reference sources are the market pages of L'Echo and De Tijd, the Trends magazines, Belga wires and publications from the FSMA and the National Bank, in French, Dutch and sometimes English, mostly available online.

A long Brussels stock market tradition

The Brussels Stock Exchange, long housed in the Boulevard Anspach palace opened in 1873, fostered an early press of price lists and investment tips. Part of the Euronext group since 2000, it remains the backdrop for Belgian financial news.

The BEL 20 and the stocks watched most closely

The BEL 20 index groups the largest companies listed on Euronext Brussels, including AB InBev, UCB, KBC, Ageas, Ackermans & van Haaren, Sofina and GBL. Financial papers comment daily on its moves, on dividends and on these companies' shareholder meetings.

What do L'Echo and De Tijd offer investors?

Beyond corporate news, Mediafin's two dailies publish live prices, analyst advice, model portfolios and features on funds. Their sections on savings and tax are among the most widely read by both French-speaking and Dutch-speaking audiences in the country.

Belgian banks: a heavily covered sector

BNP Paribas Fortis, KBC, Belfius and ING Belgium hold a large share of deposits. Their savings rates, results and branch closures are covered regularly, both in the specialist press and in general titles such as Het Laatste Nieuws or Le Soir.

Saving in Belgium: accounts, state notes and funds

Regulated savings accounts, state notes issued by the federal Treasury and investment funds dominate personal finance advice. The issue of a one-year state note in 2023 drew massive coverage, reaching even the popular dailies that rarely discuss investment products.

Understanding how investments are taxed

Withholding tax, the tax on securities accounts, the stock exchange tax and pension savings come up constantly in the Belgian financial press. These rules shift with each government agreement, so any article over a year old should be checked with the FPS Finance.

Regulators as sources

The FSMA supervises the markets and issues warnings about fraudulent platforms, while the National Bank of Belgium oversees banks and insurers. Their notices, written in French and Dutch, form the basis of many articles in the financial and general press.

Euroclear, holding companies and international finance

Brussels is home to Euroclear, a central securities depository, and several listed family holding companies. For comparison with neighbouring centres, the Luxembourg press and its investment funds and the worldwide selection of the international financial press provide useful perspective.

Using consumer magazines for your savings

The consumer association Test Achats, known as Test Aankoop in Flanders, publishes comparisons of accounts, insurance and funds, some in its investment magazines. These analyses complement the dailies with a viewpoint centred on the individual saver rather than the issuer.

Market alerts and mobile apps

The L'Echo and De Tijd apps offer price alerts and watchlists, while Kanaal Z broadcasts video market updates. For the wider macroeconomic background, the page on the Belgian business press presents the main sources on growth, jobs and inflation.

Financial scams: a recurring story

Fake advisers, cryptocurrencies promising guaranteed returns and sites cloning banks feature often in the Belgian press. The FSMA keeps a list of suspicious firms, and cases of fraudsters using the names of L'Echo journalists have already been reported.

Paid subscription or free sources?

Most stock analysis and buy recommendations in L'Echo or De Tijd sit behind a paywall. Euronext prices, FSMA publications and the annual reports of listed companies, however, remain freely available for anyone wishing to cross-check a piece of information.

How to follow Belgian markets from abroad

1. Track the BEL 20 every day on the Euronext website or in the markets section of L'Echo or De Tijd.
2. Read the savings and tax sections of these dailies to understand the rules for Belgian residents and non-residents.
3. Check the FSMA warning list before any investment offered by an unfamiliar platform.
4. Set alerts on the stocks you follow in the financial papers' apps or on Kanaal Z.
5. Compare analyst recommendations published in the press with the annual reports and official statements of listed companies.
6. Note the date of every tax article, since the rules on securities accounts or pension savings change regularly.

Belgian financial sources: how to access them

Worth knowing before reading Belgian finance news

• Stock exchange: Euronext Brussels, benchmark index BEL 20
• Regulators: FSMA for markets, National Bank of Belgium for prudential supervision
• Leading financial titles: L'Echo in French, De Tijd in Dutch
• Useful tax vocabulary: withholding tax, stock exchange tax, tax on securities accounts
• Major banks: BNP Paribas Fortis, KBC, Belfius, ING Belgium
• Currency: euro; Central European time zone
• News agency: Belga, bilingual in French and Dutch

Common mistakes when reading the Belgian financial press

• Clicking an advert that uses a Belgian celebrity's face or a newspaper logo to promote a crypto investment: it is almost always a scam.
• Applying an old tax article to your own situation, when rates and ceilings for pension savings or withholding tax may have changed since.
• Mistaking an analyst's tip published in a newspaper for personalised advice that takes your own risk profile into account.
• Overlooking that Belgian non-residents are sometimes subject to tax rules different from those described for resident taxpayers.
• Taking content sponsored by a bank or fund manager for an independent editorial article.

Common questions on Belgian finance online