Company cars still on the rise in Belgium, NSSO reports
Despite attempts to curb the trend, the number of company cars on Belgian roads continues to rise, according to a monitoring report by the National Social Security Office (NSSO), cited by De Tijd on Tuesday. At the same time, mobility budgets as an employee benefit are becoming increasingly popular.
By the end of 2024, the NSSO recorded 572,416 salary cars or company cars that employees are also allowed to use for private purposes. This represents a year-on-year increase of 0.7 per cent. Compared to the beginning of 2022, the growth is more pronounced, with a 10.9 per cent rise. The number of companies offering company cars has also increased by 3.6 per cent over the same period.
“Despite all the debate, a company car remains a very effective tool for attracting employees,” says Olivier Vanneste, a partner at consultancy firm KPMG, who analysed the NSSO report.
"Despite all the debate, a company car remains a very effective tool for attracting employees"
Although not explicitly reflected in the NSSO data, Vanneste also sees an increase in "cafeteria plan cars", or vehicles acquired through flexible salary packages. “More and more, company cars are being offered to employees who traditionally would not qualify for one,” he says. “They can choose a car, for instance, via a cafeteria plan.”
The rising number of company cars is accompanied by the growing popularity of mobility budgets, however. These allow employees to trade in their company car for a tax-advantaged budget, which can be used to lease a bike, buy train tickets or even pay off part of their mortgage. Last year, there were 18,386 employees in Belgium using the mobility budget, almost double the number a year earlier.
© BELGA PHOTO ERIC LALMAND
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