Why did Walloon heavy industry grow faster than textile industries in Flanders?

During the 19th century, the rapid growth of Walloon heavy industry compared to the textile industries in Flanders was primarily driven by significant financial support and structural differences in the industries.12

• Financial Investment: Brussels-based banks, such as the Société Générale and the Banque de Belgique, provided extensive financing for mechanized heavy industry in Wallonia. These banks created an industrial banking system that converted enterprises into limited companies, allowing them to retain control while raising public capital.12
• Lack of Interest in Textiles: In contrast, banks showed little interest in the Flemish textile sector because it was fragmented across numerous small family enterprises, making it a less attractive target for large-scale investment.12
• Market Competition: The Flemish textile industry faced severe challenges, including formidable competition from British manufacturers and the loss of market advantages for woolen producers to competitors in Verviers and northern France.12
• Economic Crisis: The traditional linen industry in rural Flanders suffered a disastrous decline, which was exacerbated by the famine of 1844–46, further retarding the region's modernization compared to the capital-infused industrial expansion in the south.12