The end of 2025 was marked by a high level of insolvencies, with more than 900 cases opened in each of September, October and November, while in December more than 1,000 insolvency cases were recorded, according to data from a financial analysis platform.
'The end of 2025 signals financial challenges among companies and economic instability. December 2025 highlights an intensification of financial pressures on the business environment, reflected in the opening of more than 1,000 insolvency cases. Bucharest recorded the highest number of insolvency cases, with over 250 cases in December 2025. From 172 insolvency cases registered in December 2024, the Capital recorded a 48% increase in insolvency cases. Thus, in December 2025 alone, 255 insolvency cases were opened in Bucharest,' according to a RisCo analysis.
Data from the period December 2024 to December 2025 also show increases in the number of insolvency cases in the counties of Ialomita (260%), Constanta (219%), Brasov (146%), Bihor (132%) and Iasi (100%).
Thus, in December 2024, 16 insolvency cases were recorded in Constanta County, while in December 2025 their number reached 51. A similar situation was recorded in Bihor County, which had 31 insolvency cases in December 2024, with the number rising to 72 in December 2025.
'Therefore, the data show that during this period companies faced financial difficulties and the economic environment felt significant pressure. This period suggests that some businesses were unable to overcome these challenges and insolvency cases were therefore opened, highlighting the difficulties faced by entrepreneurs. The more than 1,000 insolvency cases opened in the final month of 2025 alone present an overall picture indicating the pressure on the Romanian business environment. The year 2025 was a year of change and adaptation, in which companies faced challenges, had to rethink their strategies and adopt efficient solutions in order to continue their activity in an optimal and sustainable way, demonstrating flexibility and the ability to adapt to an economic environment in constant motion,' RisCo representatives said.
Based on the number of insolvency cases opened in December 2025, the most exposed sectors are restaurants, up 150%, electrical and plumbing installation works and other construction installation works, up 150%, road freight transport and removal services, up 133%, retail trade in non-dedicated stores, up 110% and construction of residential and non-residential buildings, up approximately 91%.
At the opposite end are Botosani, Mures, Buzau and Harghita, counties which reported fewer insolvency cases compared with the same period of the previous year.
'If we follow the number of insolvency cases month by month in 2025, we observe both fluctuations and counties that remain consistently at the top. The end of the year shows that companies in various counties across the country are facing financial difficulties and that more and more companies are confronting the risk of insolvency. We recommend adopting a preventive approach, which should include checking all partners, both existing ones and potential collaborators. In the context of market dynamics and the business environment, protective measures become essential for companies, and regular evaluation and constant monitoring of the client and partner portfolio can truly make a difference,' the representatives of the financial analysis platform added.
Founded in 2014, RisCo provides online company verification and monitoring services in Romania, offering all financial, legal and payment discipline information about companies in the country.
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