Consumer loans for energy-efficient renovations were concluded during 2024 for a total value of €709 million, down -25.9% in value from the same period the year before. These figures do not include mortgage loans for the purchase and/or renovation of a home.

The normalisation of energy prices, together with uncertainty about tax incentives in certain regions of Belgium, may explain the loss of interest in energy-efficient home renovation among citizens. European targets for 2050 are ambitious and it will not be possible to achieve carbon neutrality and energy label A without getting the renovation movement going.

This is also confirmed by Francisco Schram, chairman of Febelfin's Retail Credit Committee:

‘The recent climate events, as highlighted by the President of the European Commission, should alarm the general public. However, we found that interest in energy renovation declined after the 2022 energy price crisis. It is crucial that we focus on energy renovation now, not only to achieve the ambitious goal of carbon neutrality, but also to protect citizens from fluctuations in energy prices. By financing these renovations through consumer loans and other loans, we can also protect and increase their property values.’

It should also be noted that general renovation, excluding energy efficient renovation, also declined in 2024. In 2024, 41,000 consumer ‘renovation’ loans were taken out, amounting to almost €790 million, representing a 23% drop in number and a 12.1% drop in value compared to the same period the year before.

As for the car market, we saw an increase in figures for both new and used cars. A total of 117,000 loans were granted for the purchase of a new car, totalling about €2.7 billion. This is a 10.2% increase in amount and a 7.8% rise in number, compared to the same period the year before. For used cars, 132,000 loans were granted for a total of €2.2 billion in 2024. This represents an increase of 3.3% in number and 5% in value.

Febelfin's Retail Credit Committee notes that in the second half of the year, just under 4,000 loans granted for the purchase of a new car, or just under 8% in number, were ‘eco-friendly*’ for a total amount of almost €113 million. This is still not enough, but it does show a certain interest by private individuals in ‘eco-friendly’ cars.

For used cars, the ecological aspect is less pronounced, with only just over 1% in number, or about 700 deals awarded for a total amount of more than €18.8 million. One factor that may explain this significant difference is the lack of political awareness about eco-friendly cars.

For more information, see our annual report on our website: Annual reports.