Treasury Labour Market Trends H1 - Belgium

The Belgian treasury market in the first half of 2026 reflects a function that continues to be built almost entirely through experienced hires. Across sectors, organisations are looking for treasury professionals who can operate independently from day one, and they are showing very little sign of developing that capability internally.

By looking at seniority levels, industry distribution and geographic concentration, a clear picture is painted of how treasury roles are positioned in Belgium today, and where demand is structurally strong or limited. The data below covers 126 vacancies and highlights not only who is hired, but also what kind of treasury function organisations are building.

Seniority Level: 

The Belgian market was heavily weighted toward experienced hands-on roles. Mid-level positions made up 59.5% of the market, with senior and managerial roles at 27.8%. Together this accounts for 87% of treasury hiring, leaving very little activity at either end of the ladder.

Executive and Head of Treasury roles accounted for 7.1%, nine vacancies in total, four of which were interim or freelance mandates. This points to turnover within a small leadership pool, with a meaningful share of demand met through flexible arrangements rather than permanent headcount.

Entry-level hiring was close to absent. Junior roles represented 4.8% and internships or traineeships only 0.8%. Belgium continues to be a difficult market for early-career treasury profiles, and the near-total absence of a pipeline tightens the mid-level pool that every employer is already competing in.

Industry Overview: 

From an industry perspective, demand was well diversified across three sectors of comparable weight. Banking, insurance and asset management led with 19%, narrowly ahead of healthcare and life sciences at 18.3%. That healthcare figure is driven by Johnson & Johnson in Beerse, UCB, IBA and Eurofins, and gives the country an unusually strong life-sciences treasury base.

Technology and telecom followed at 15.1%, ahead of manufacturing and industrials at 11.9%, where Bekaert, Umicore, Atlas Copco and Daikin remain consistently active.

Infrastructure, energy and utilities accounted for 8.7%, including Fluxys and Equans, while consulting and advisory represented 7.9%, underlining sustained demand for treasury transformation and project expertise.

Location Overview: 

Geographically, the market remained highly centralised. Just under 55% of roles were based in the Brussels region, including key business hubs such as Zaventem, Diegem and Machelen. Flanders accounted for 28.6%, driven mainly by Antwerp, Ghent, Leuven and the Beerse pharmaceutical cluster.

Wallonia registered a single vacancy across the entire six months. Treasury in Belgium is a Brussels and Flanders function, and any search built on a different assumption will exhaust its candidate pool quickly. The remaining 15.9% reflects roles with national scope or less specific location data, often linked to hybrid or multi-site setups.

Taken together, the H1 2026 data paints a picture of a mature and highly selective treasury market. Demand is concentrated at mid-level, leadership roles turn over within a small pool and a significant share arrive as interim mandates, and junior entry points remain structurally limited. Industry demand is diversified across financial services, life sciences and industry, while geography continues to favour Brussels as the dominant treasury hub.

For employers, this means competition for experienced treasury talent remains high, and with almost no early-career intake that competition will not ease on its own. For professionals, it reinforces the importance of depth, adaptability and cross-sector exposure. Belgium in H1 2026 is not a high-volume hiring market for treasury, but it is a market where expertise, leadership and strategic capability are clearly valued.

If you want to discuss more on this topic, reach out to our Belgium specialist: Haia Aaraj.