Rotterdam, 16 June 2026 – Dutch companies paid invoices late more often in 2025 than they did a year earlier. Exactly one in four invoices (25.3%) was not paid within the agreed payment term. In 2024, that share stood at 23.9%. This is according to the annual Payment Study by business data expert Altares Dun & Bradstreet. The decline is particularly evident in the hospitality sector and wholesale trade.
2025 is the first year since 2021 in which payment behavior has not continued to improve. While the share of invoices paid on time had increased slightly in previous years, 2025 shows a clear deterioration. At the same time, the Netherlands remains one of the most punctual payers in Northern Europe, with 74.7% of invoices paid on time. Nevertheless, after Ireland, it records the largest decline in payment behavior. The proportion of invoices that remain unpaid more than 90 days past their due date remains relatively low in the Netherlands. On average, this figure stands at 0.3%, unchanged from 2024.
Barry de Goeij, Leader Data Science, Trade & CSM at Altares Dun & Bradstreet, commented:
"The fact that 5.5 percentage points more invoices were paid late than in 2024 is striking. At the same time, the difference compared with 2023 is less significant: in 2023, 23.9% of invoices were paid late. It is possible that 2024 saw a rebound following a weaker economic period. By contrast, 2025 was characterized by uncertainty for Dutch entrepreneurs, driven by the collapse of the government, as well as geopolitical tensions and tariffs imposed by the United States."
Biggest Deterioration in the Hospitality Sector.
No sector in the Netherlands showed an improvement, but the largest decline was recorded among hospitality businesses (eating and drinking places), where 76.0% of invoices were paid on time, compared with 85.7% in 2024. De Goeij commented: “We cannot point to a single cause, but hospitality entrepreneurs may be feeling pressure from persistent inflation and rising costs, including energy expenses. Although the number of bankruptcies in the hospitality sector has been declining since 2024, it remains a sector facing significant economic challenges.”
Trend reversal: large vs. small companies
Although large companies still pay on time significantly less often than smaller businesses, a slight shift in the trend is becoming visible. While payment performance among large companies remained virtually stable (down 0.7 percentage points compared with 2024), payment discipline deteriorated more sharply among small companies (down 5.7 percentage points) and medium-sized companies (down 3.7 percentage points). “This may be because larger companies are better able to absorb the impact of economic fluctuations than smaller businesses,” said Barry de Goeij.
Internationally: neighbouring Belgium makes progress
The Payment Study covered a total of 14 European countries. Although Dutch companies became less punctual in their payment behavior (-5.5%), it is noteworthy that companies in neighbouring Belgium paid significantly more invoices on time: payment punctuality increased by 9.2 percentage points. Despite this improvement, Belgium still ranks at the bottom of the European comparison. De Goeij commented: “Economic challenges and uncertainties have made companies more aware of their financial vulnerabilities. As a result, many businesses are placing a stronger focus on cash flow management and risk management. The improved payment behavior we are seeing in Belgium can partly be explained by this increased emphasis on financial resilience.”
| Denmark | 94,9% |
| Poland | 86,6% |
| Russia | 80,9% |
| The Netherlands | 74,7% |
| Switzerland | 68,5% |
| Germany | 63,8% |
| Czech Republic | 63,8% |
| United Kingdom | 60,5% |
| Slovakia | 60,2% |
| Sweden | 56,7% |
| Luxembourg | 54,8% |
| Finland | 54,7% |
| Belgium | 47,3% |
| Ireland | 45,5% |
Outlook for 2026
For the coming months, De Goeij is interested to see to what extent inflation will affect companies’ payment behavior and financial position. De Goeij commented: “According to the flash estimate for May, inflation stood at 3.5%. At the same time, the Dutch central bank expects inflation to average 2.7% this year and then ease slightly, while remaining above 2%. This is likely to result in continued cost pressures for businesses. We also see this reflected in the disappointing economic growth of just 0.1% in the first quarter of 2026.”
