The current study presents an estimation of the state of the crowdfunding market in Belgium based on an analysis of information notes received by the Financial Services and Markets Authority (FSMA). It appears that the interest in investing through crowdfunding has been growing steadily over time in Belgium. Our results show that eight platforms launched in total 234 financing campaigns with an information note. For 145 campaigns, the effective collected amount is known. At least 140 campaigns were successful. They managed to collect 69.24 mio euro in total. In 2019, the market at least doubled in terms of size compared to 2017. Over the first half of 2020 a decrease in the number of information notes has been noticed, it is too early to say whether this is related to the COVID-19 crisis or not.