14 November 2025 - 6 min Reading time
The Belgian financial sector has reached a new record in terms of gender diversity at the level of corporate management. According to the annual survey conducted by Wo·Men in Finance Belgium, women now hold 35.7% of senior management positions, the highest level since the launch of the initiative in 2019. With 70 affiliated institutions, representing more than 90% of the sector, Wo·Men in Finance demonstrates that structural change is possible when an entire industry is moving towards the same goal.
The Glass Ceiling Index improved again, reflecting a gradual narrowing of the gap between women in the workforce and those in leadership positions.
In 2024, women were more strongly represented at all levels of management. For the first time, they exceeded the 35.7% mark in senior management. Departures in this group of women executives have also decreased, a sign that the focus on retention and culture is paying off. In middle management, too, the proportion of women continued to increase to 47.4%, a positive development despite the slight increase in the number of voluntary departures in this group.
The quota legislation also continues to have a positive effect: women account for 41.4% of directors in the companies covered by the law, compared to 26.4% in other organisations.
For the first time in five years, however, the share of women in talent pools has fallen slightly. This decline could be linked to the significant increase in female appointments to management positions. In any case, it underlines the need for increased vigilance in order to continue to guarantee the progress of female talent.
The results show a clear shift from formal measures towards a more inclusive corporate culture. This is also apparent from the first self-assessment. The foundations for diversity, equality and inclusion (DEI) have been laid, but there is still a need to further anchor them in leadership and decision-making.
Wo·Men in Finance also looked at which DEI measures have the most impact on women's presence in leadership positions and the Glass Ceiling Index.
The analysis shows that progress is greatest in institutions that:
This combination of structure and culture leads to measurable and improved results.
This will be discussed in more detail at the next meeting of Wo·Men in Finance and we are proud to announce that among the 30 CEOs who will be present, 10 are women.
Focus groups with young mothers and fathers and members of the so-called sandwich generation—those who care for both teenagers and elderly parents—make it clear that family responsibilities continue to influence professional careers.
Flexibility helps, but true inclusion requires structural equity, recognition of mental load, and shared responsibility.
On the basis of these observations, Wo·Men in Finance will launch a new parenting survey in 2026, to better understand which measures make a lasting difference for working parents.
"Six years after the signing of the Wo· Men in Finance, I clearly see that our industry approach is accelerating our members' progress on diversity and inclusion."
"When structure and culture reinforce each other, leadership becomes more human and more successful."
For more information on the report and Wo· Men in Finance Belgium :
www.womeninfinance.be – info@womeninfinance.be
Contact:
Claire GODDING, Co-Chair Wo·Men in Finance, Senior Counsel Diversity, Inclusion & other societal needs at Febelfin
0476 76 17 30
info@womeninfinance.be