Capital stock (i49)
- 31/10/2025
- objective
- assessment
In 2024, Belgiumʹs net capital stock stood at 313.9% of gross domestic product. The capital stock must not decrease. Between 2000 and 2024, the trend is favourable (assessment of November 2025).
Capital stock - Belgium and international comparison
percentage of gross domestic product
| 1995 | 2000 | 2005 | 2010 | 2015 | 2019 | 2020 | 2024 | 2024//1995 | 2024//2019 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Belgium | 295.0 | 290.0 | 289.6 | 303.9 | 304.5 | 305.4 | 322.5 | 313.9 | 0.2 | 0.6 |
| Germany | 327.2 | 320.6 | 311.8 | 323.3 | 315.5 | 321.6 | 337.7 | -- | -- | -- |
| France | 277.6 | 271.4 | 291.3 | 322.7 | 323.3 | 329.3 | 357.8 | -- | -- | -- |
| Netherlands | 306.0 | 287.2 | 300.6 | 317.7 | 292.5 | 280.3 | 299.7 | -- | -- | -- |
| //: Average Growth Rates | ||||||||||
Source: Calculations FPB based on National Accounts Institute; Eurostat (2025), Balance sheets for non-financial assets and GDP, nama_10_nfa_bs and nama_10_gdp, https://ec.europa.eu/eurostat, last update of data 17/10/2025 23:00 and 21/10/2025 11:00 (consulted on 27/10/2025)
Capital stock by type - Belgium
percentage of gross domestic product
| 1995 | 2000 | 2005 | 2010 | 2015 | 2019 | 2020 | 2024 | 2024//1995 | 2024//2019 | |
|---|---|---|---|---|---|---|---|---|---|---|
| physical | 286.3 | 279.7 | 277.6 | 290.0 | 288.0 | 287.8 | 303.2 | 293.9 | 0.1 | 0.4 |
| intellectual | 8.8 | 10.3 | 12.0 | 13.9 | 16.4 | 17.6 | 19.3 | 20.0 | 2.9 | 2.6 |
| //: Average Growth Rates | ||||||||||
Source: Calculations FPB based on National Accounts Institute; Eurostat (2025), Balance sheets for non-financial assets and GDP, nama_10_nfa_bs and nama_10_gdp, https://ec.europa.eu/eurostat, last update of data 17/10/2025 23:00 and 21/10/2025 11:00 (consulted on 27/10/2025)
Definition: the capital stock is the sum of all economic assets that are used on a recurring or continuous basis in the production process for more than one year (section AN.11; Eurostat, 2013). The indicator measures the net capital stock (machinery, buildings, transport and communication infrastructure etc.). It is calculated by subtracting from the gross capital stock, all assets of which being valued at the prices that would have to be paid if the assets were purchased now, the cumulative value of depreciation and by adding gross investments. The indicator is expressed as a percentage of GDP. The National Accounts Institute calculates the indicator for Belgium. In order to be able to compare Belgium with neighboring countries, data from Eurostat are used.
The following breakdown is available for this indicator: capital type.
Goal: the capital stock must not decrease.
The Sustainable Development Goals or SDGs adopted by the UN in 2015 include target 9.1: "Develop quality, reliable, sustainable and resilient infrastructure, including regional and trans-border infrastructure, to support economic development and human well-being, with a focus on affordable and equitable access for all".
The capital stock "is a means of carrying forward value from one accounting period to another" (Eurostat, 2013, p.184). Consequently, the capital stock can be used by future generations and contribute to their well-being. Looking forward, it is considered that the capital stock must be maintained (UNECE, 2014, p.29). Therefore, it is considered as an implicit objective that the net capital stock must not decrease.
UN indicator: the selected indicator does not correspond to any monitoring indicator for the SDGs but is related to target 9.1. Increasing the capital stock makes it possible to have the necessary infrastructures for economic development.
Sources
-
Eurostat (2013), European system of accounts. ESA 2010, Luxembourg: Publications Office of the European Union, 2013.
- UNECE (2014), Conference of European Statisticians Recommendations on Measuring Sustainable Development, https://unece.org/statistics/publications/conference-european-statisticians-recommendations-measuring-sustainable (consulted on 3/11/2025).
At www.indicators.be the Federal Planning Bureau presents sustainable development indicators.
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