The closing article of this special issue provides a comparative analysis of flood risk governance (FRG) in four European countries and tries to explain why FRG in the Netherlands and Poland is more stable than in Belgium and France. It examines the role of mechanisms of path dependency and path change. Inspired by the conceptual framework developed in the introductory article (Wiering et al. 2017), this article provides an overview of dynamics in FRG in the four countries and identifies major trends and tendencies. It discusses forces of stability and change and hypothesises on how ‘clusters’ of these forces tend to interact. It is found, among other things, that new ideas are often crucial for initiating change and that fixed costs and the sedimented distribution of responsibilities are stabilising factors. Bringing together various existing theories, the article contributes to literature on flood risk management and public policy change.