What Does a Data Breach Really Cost Your Belgian SME?
When you hear about data breaches, you might think it only happens to large corporations. The reality? Belgian SMEs are increasingly targeted precisely because attackers know smaller businesses often lack adequate protection. The cost of a breach goes far beyond the immediate IT expenses - and most business owners underestimate it by a factor of 3 to 5.
The Problem: Breaches Are Expensive and Common
Most Belgian SME owners believe cyberattacks only happen to others. The statistics paint a different picture:
43% of cyberattacks target SMEs
Attackers know small businesses often lack dedicated IT security, making them easy targets with valuable data.
Average response time: 280 days
Many breaches go undetected for months, during which attackers freely access your systems and data.
Recovery takes weeks, not days
The average SME needs 23 days to fully recover from a cyberattack - that is nearly a month of disrupted operations.
60% of attacked SMEs fail within 6 months
The financial and reputational damage proves fatal for many small businesses that cannot absorb the costs.
The Hidden Costs Most Businesses Forget
When calculating breach costs, most business owners only think about immediate IT expenses. The real costs are much higher:
Direct Costs
Finding out what happened, what was accessed, and how to prevent recurrence.
Restoring systems, data, and applications to operational state.
Mandatory upgrades to prevent future attacks.
GDPR requires notification to authorities and affected individuals.
Regulatory Fines
Fines for inadequate data protection or late breach notification.
For essential and important entities under the new directive.
Healthcare, finance, and other regulated sectors face additional penalties.
Business Impact
Revenue lost during recovery period, typically 2-4 weeks.
Customers leave when they lose trust in your data handling.
Years of trust destroyed, affecting future sales and partnerships.
Cyber insurance costs rise significantly after a claim.
A Real Scenario: Ransomware Attack on a Belgian SME
Consider this realistic scenario based on actual Belgian cases:
A 25-person accounting firm receives a phishing email. One employee clicks the link. Within 48 hours, ransomware encrypts all client files and backups.
| Ransom demand (not paid) | €50,000 |
| Forensic investigation | €12,000 |
| System rebuild from scratch | €35,000 |
| Lost revenue (3 weeks) | €45,000 |
| Client notification and PR | €8,000 |
| GBA fine for GDPR violation | €25,000 |
| Lost clients (4 major accounts) | €120,000/year |
| First-year cost: €245,000+ |
This firm had no cyber insurance and minimal backup procedures. With basic CyberFundamentals controls in place, this attack would likely have been prevented - or the damage limited to a few days of recovery.
Prevention vs. Recovery: The Numbers
| Investment | Prevention Cost | Breach Cost |
|---|---|---|
| CyberFundamentals Small (7 controls) | Free | Prevents 70% of common attacks |
| CyberFundamentals Basic (35 controls) | €150-500/year | Prevents 85% of attacks |
| Employee awareness training | €500-2,000/year | Phishing causes 90% of breaches |
| Proper backup solution | €100-500/month | Ransomware recovery: €50K+ without it |
| Cyber insurance | €500-3,000/year | Covers €50K-500K in damages |
A €2,000/year security investment can prevent €50,000+ in breach costs
The Solution: Prevention Through CyberFundamentals
The good news is that most cyberattacks are preventable with basic security measures. The Belgian CyberFundamentals framework provides a structured approach:
Start with the free Small tier
7 essential controls that address the most common attack vectors: basic access control, software updates, backup basics, and awareness.
Document what you have
Know your assets, your data, and your current security posture. You cannot protect what you do not know exists.
Train your team
90% of breaches start with phishing. Regular awareness training is the most cost-effective security investment you can make.
Implement proper backups
The 3-2-1 rule: 3 copies, 2 different media, 1 offsite. Test your restores regularly - untested backups are not backups.
Get certified over time
Work toward Basic or Important certification. Not just for compliance - it demonstrates to customers and insurers that you take security seriously.
The ROI of Cybersecurity Investment
When you frame security as an investment rather than a cost, the numbers make sense:
Every €1 spent on prevention saves €4-10 in potential breach costs.
Cyber insurers offer 10-25% discounts for certified security frameworks.
Increasingly, large clients require suppliers to demonstrate security compliance.
Sleep better knowing your business is protected against common threats.
Frequently Asked Questions
Is €50,000 really average for a small business breach?
Yes, and often higher. IBM's Cost of a Data Breach Report consistently shows SME breaches averaging €50,000-150,000 when including all direct and indirect costs. Many SMEs underestimate because they only count immediate IT expenses, not lost revenue, customer churn, and regulatory fines.
Will my cyber insurance cover everything?
Not necessarily. Most policies have exclusions for negligence (like unpatched systems), limits on business interruption claims, and requirements for minimum security measures. Read your policy carefully - and implementing CyberFundamentals helps ensure you meet policy requirements.
We are too small to be targeted, right?
Wrong. 43% of cyberattacks target small businesses precisely because they often lack security. Automated attacks do not discriminate by company size - they scan the entire internet for vulnerabilities. If you have customer data, financial information, or business email, you are a target.
How much should I budget for cybersecurity?
Industry benchmarks suggest 5-10% of IT budget for security, or €100-500 per employee per year for SMEs. Start with free options like CyberFundamentals Small, then invest in critical areas: backup, training, and basic security tools.
Can I recover from a breach without paying ransom?
Yes, if you have proper backups. The key is having offline or immutable backups that ransomware cannot encrypt. This is why backup is one of the 7 essential controls in CyberFundamentals Small. Without proper backups, recovery is extremely expensive and sometimes impossible.
Related Articles
Sources
- IBM Cost of a Data Breach Report 2025 — Annual global analysis of breach costs
- CCB CyberFundamentals Framework — Official Belgian cybersecurity framework
- Belgian Data Protection Authority (GBA) — GDPR enforcement in Belgium
- GDPR (EU) 2016/679 — General Data Protection Regulation
- ENISA Threat Landscape — EU Agency for Cybersecurity threat analysis