Companies that are dissolved or put into liquidation are less likely to see a board change
Of the 12,957 companies with a dissolution or liquidation, 0.3% also had a board change within nine months, against 5.8% among similar companies.
Board change within nine months of the event
Both measurements combined · 12,957 companies
After a dissolution or liquidation0.3%
Similar companies5.8%
0.05×
Less often than among similar companies.
- 95% interval
- 0.04× to 0.07×
- Companies
- 12,957
- Measurements
- 2, independent
Source: Hunch Lab, cohort study of 1,141,228 Belgian companies. Compared within sector, size and age, with companies active in the same period.hunchleads.com/en/lab
Does it hold up?
Each measurement uses different companies and a different period. A link only counts if it shows up in both.
| Measurement | Period | With the event | Similar | Factor |
|---|---|---|---|---|
| Measurement 1 | event Feb–Jun 2025, outcome Jul 2025–Mar 2026 | 0.3% | 7.3% | 0.04× |
| Measurement 2 | event Jul–Dec 2025, outcome Jan–Sep 2026 | 0.3% | 4.5% | 0.08× |
How often does this happen?
Belgian companies with the event, per month, over the last twelve complete months.
Dissolution or liquidation1,614 a month on average
Board change8,802 a month on average
Technical note
Methodology- Design
- Retrospective cohort study
- Population studied
- 1,141,228 Belgian companies (the full business register)
- Comparison group
- Companies without the event that had another publication or event in the same entry period (active group), from the same stratum: NACE section, size class and age class; indirect standardisation
- Cohorts
- event Feb–Jun 2025, outcome Jul 2025–Mar 2026; event Jul–Dec 2025, outcome Jan–Sep 2026
- Observed and expected
- 41 cases, 746 expected
- Factor (95% interval)
- 0.05× (0.04× to 0.07×)
- Multiple testing
- q < 0.001 (Benjamini-Hochberg)
- Second measurement
- p < 0.001
- Other comparison groups
- economically active companies 0.07× (0.05× to 0.09×); all companies 0.10× (0.07× to 0.13×)
- Absolute difference
- -5.4 percentage points
- Size of the groups
- active 120,261, economically active 370,738, all 1,141,228 companies
- Strata
- 131 strata of at least 300 companies (section × size × age; smaller strata merged)
- Data up to
- September 2026
Cite this findingFree to reuse with attribution (CC BY 4.0).
Hunch Lab (2026). Companies that are dissolved or put into liquidation are less likely to see a board change. Data up to September 2026. https://hunchleads.com/en/lab/ontbinding-of-vereffening-bestuurswijzigingAbout Hunch Lab
Hunch Lab is the research programme of Hunch. Every finding is free to reuse with attribution. Questions are welcome.
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