Eurostat data shows Belgium, France and Netherlands corporate debt above EU 85% GDP alert limit

Eurostat’s latest figures reveal that corporate debt across the European Union reached 70.1 % of GDP at the end of 2025, rising slightly to 71.6 % in the euro area. Seven member states have corporate‑debt ratios that surpass the European Commission’s 85 % of GDP warning threshold used in its macro‑economic imbalance surveillance.

The highest ratios are recorded in Belgium (90.6 % of GDP), France (91.6 %) and the Netherlands (106.3 %). Belgium’s figure reflects extensive intra‑group financing by multinational subsidiaries, while France’s debt is seen as a genuine macro‑economic strain despite sizable corporate cash reserves. In the Netherlands, the prominence of multinational finance centres drives the elevated ratio, with about 60 % of corporate debt linked to such entities. Exceeding the threshold does not automatically trigger sanctions but prompts the Commission to assess underlying vulnerabilities.