Koen Batsleer shared his presentation for the The Belgian Workspace Association conference revealing that the flex sector now represents nearly 4% of Belgium's total office market with over 544 locations totaling 949,532 sqm.

The market experienced exponential growth exceeding 10-15% annually from 2012 until COVID-19 and the energy crisis halted expansion from 2021-2024, but 2025 shows renewed growth above 10% with locations becoming larger and more profitable. Market turnover reached €400M in 2024, representing 19% year-over-year growth, while EBITDA increased to nearly €76M with margins approaching 20%, marking a full recovery from the over €10M losses experienced in 2020.

Similar to many discussions we have here at TWIC, the analysis advocates for management contracts between operators and landlords as a risk-sharing model that could make operators 20% more competitive while reducing landlord net rent by only 10%.