Although the number of unreliable payers in Poland began to decline in 2025, the total value of overdue liabilities among companies continues to grow. By the end of last year, overdue corporate debts exceeded PLN 45 billion, affecting more than 309,000 businesses, according to data from BIG InfoMonitor and the Credit Information Bureau (BIK).
Experts point out that the situation is becoming increasingly diverse across regions and sectors. Despite the decline in the number of indebted firms, the average debt per company is rising, indicating that financial problems are becoming concentrated within certain parts of the economy.
Fewer Debtors, but Larger Debts
Polish businesses ended 2025 with a very high level of overdue liabilities. The total value of unpaid obligations exceeded PLN 45 billion, even though the number of unreliable debtors fell.
Over the year, the databases of BIG InfoMonitor and BIK recorded nearly 22,000 fewer indebted entities, while the year before the number of companies struggling to meet their obligations had increased by more than 12,000.
At the same time, the average amount of debt per entrepreneur increased significantly:
- 2023: PLN 131,218
- 2024: PLN 132,241
- 2025: PLN 145,612
This represents an increase of more than PLN 13,000 in a single year, far higher than in previous years. According to experts, this suggests that financial difficulties are increasingly accumulating among companies that were already indebted.
Paweł Szarkowski, President of BIG InfoMonitor, emphasises that this situation raises risks for business partners.
“Such a sharp increase in the average debt amount alongside a smaller number of debtors shows that financial problems are ‘ballooning’ within companies that were already indebted. For business partners, this means a significant rise in transactional risk—cooperating with a company that has overdue liabilities is now far more dangerous than it was even two years ago.”
Poland’s Map of Corporate Debt
Data analysis reveals clear differences between regions. The highest average debt per company was recorded in two provinces, where the average overdue amount exceeds PLN 190,000 per business.
At the same time, Mazovia remains by far the leader in terms of the total value of overdue liabilities, largely due to the scale of economic activity in the region.
The largest total corporate debt is recorded in:
- Mazowieckie (Mazovia): approx. PLN 12 billion
- Śląskie (Silesia): more than PLN 5.6 billion
- Wielkopolskie (Greater Poland): approx. PLN 4.6 billion
Experts note that the high average debt level in Podkarpackie may indicate particularly difficult situations for individual companies operating in smaller local markets.
Where Debt Is Rising the Fastest
The pace at which financial problems are growing also varies significantly by region.
The largest increases in overdue liabilities in 2025 occurred in:
- Zachodniopomorskie (West Pomerania): up 13.3% year-on-year
- Małopolskie (Lesser Poland): up 10.3% year-on-year
This may reflect a deterioration in local economic conditions or greater sensitivity of businesses to rising costs and changing demand.
Meanwhile, the most significant improvements were recorded in:
- Świętokrzyskie: overdue liabilities down 9.3%
- Łódzkie: down 8.4%
Companies in these regions appear to have coped relatively better with cost pressures and the economic slowdown.
Four Sectors with the Largest Debts
The biggest problems with overdue obligations occur in several key sectors of the Polish economy.
The leader remains wholesale and retail trade, with overdue debts reaching PLN 8.7 billion. It is followed by:
- Industry: PLN 7.5 billion
- Construction: PLN 5.9 billion
- Transport and logistics (TSL): PLN 3.3 billion
In two sectors—trade and transport/logistics—the situation improved slightly. Overdue liabilities there declined by 3% and 1% respectively compared with the end of 2024.
In other sectors, however, financial difficulties are intensifying.
The largest increases in debt were recorded in:
- Industry: up PLN 686 million (10%)
- Construction: up PLN 295 million (5.3%)
- Real estate sector: up PLN 533 million (21.4%)
- Professional, scientific and technical activities: exceeding PLN 3 billion in debt (up 9.4%)
Transport the Riskiest Industry
In terms of the share of unreliable payers, the transport and logistics sector (TSL) clearly stands out.
In this sector, 8.6% of companies have problems paying their obligations on time, meaning approximately every twelfth transport company has overdue debts.
Other high-risk sectors include:
- Waste and wastewater management: 7.1% of companies with payment problems
- Mining: 6.7%
Even more concerning data emerges when analysing specific industries according to PKD business classification codes.
For example:
- Car rental (PKD 7711Z): financial problems affect about 16% of companies
- Margarine production (PKD 1042Z): as many as 27% of companies are listed as unreliable debtors
First Signs of Stabilisation
Despite the high level of debt, experts see early signs of stabilisation in the economy.
In 2025:
- total overdue liabilities increased by PLN 1.24 billion,
- compared with PLN 1.95 billion the year before.
This means the growth rate of debt slowed from 4.7% in 2024 to 2.8% in 2025.
For comparison, as recently as 2023, overdue liabilities were growing at around 6% annually.
At the same time, the share of unreliable payers in the economy has stabilised at around 5% of all businesses.
An Uncertain Outlook for Companies
Experts emphasise, however, that the situation of Polish businesses remains fragile.
The year 2025 brought gradual stabilisation after a difficult 2024, but many companies are still operating under strong cost pressure. Rising wages, higher energy prices and the growing inflow of cheaper imported products—especially from China—are squeezing corporate margins.
At the same time, exporters face weaker demand within the European Union and a stronger Polish zloty, which reduces the competitiveness of Polish products in foreign markets.
According to Dr. Waldemar Rogowski, chief analyst at BIG InfoMonitor, the future of the economy will also depend on geopolitical developments.
Conflicts around the world—particularly in the Middle East—may influence energy prices and the pace of global economic growth. A prolonged rise in oil and gas prices could once again push inflation higher and slow economic recovery.
In an extreme scenario, some economies could enter a phase of stagflation, combining high inflation with weak economic growth.
Data from BIG InfoMonitor and BIK show that although the number of unreliable debtors is falling, the risk of doing business with an indebted partner is now greater than it was just a few years ago.
