The number of corporate insolvencies in Germany continued to rise in 2025, reaching approximately 24,000 cases — the highest level since 2014. Compared to 2024, when 21,964 corporate insolvencies were recorded, this represents an increase of 9.6 percent. These are the key findings of CRIF Germany’s analysis of corporate insolvencies for 2025.
Forecast: Increase Expected to Continue in 2026
“The overall conditions continued to deteriorate over the past year. Many companies struggled with high energy and production costs, uncertainties due to geopolitical conflicts, rising bureaucracy, and ongoing strains in supply chains and sales markets. At the same time, consumer spending among private households remained subdued, as higher living costs visibly reduced disposable income. For numerous businesses — particularly small enterprises and mid-sized structures — this situation resulted in mounting financial pressure, which is reflected in the renewed increase in insolvencies,” says Dr. Frank Schlein, Managing Director of CRIF Germany, commenting on the current figures.
Although sentiment among companies, which had long been cautious, has recently improved somewhat, economic prospects remain uncertain. The war involving Iran has led to significant price increases for oil and gas, worsening the outlook for inflation and growth once again — both in Germany and internationally. “Many positive signals from recent months are losing their impact, as energy and procurement costs continue to rise for many industries. The geopolitical situation remains tense, and the further course of the conflict is difficult to predict, making investments and long-term planning even more challenging,” Dr. Schlein adds.
Against this backdrop, CRIF expects another increase in corporate insolvencies in 2026, reaching 24,800 cases — an increase of around three percent. At the same time, early indicators show that the financial situation of many companies continues to deteriorate: 10.3 percent of all firms are now considered at risk of insolvency, an increase of 1.4 percent compared with the previous year. This development underscores that economic pressure remains high and that many companies continue to operate in a strained environment.
Berlin with the Highest Insolvency Density
In 2025, Berlin recorded the highest insolvency density with 117 insolvencies per 10,000 companies, while the national average stood at 77 cases per 10,000 firms. North Rhine-Westphalia (103), Hamburg (98), Hesse (88), and Bremen (85) also reported above‑average insolvency rates. At the lower end of the statistics were Thuringia (51), Brandenburg (53), Saarland and Mecklenburg‑Western Pomerania (54), and Bavaria (56), all with comparatively low case numbers. In absolute terms, the federal states with the highest numbers of corporate insolvencies were North Rhine-Westphalia (6,502), Bavaria (3,316), and Baden-Württemberg (2,706).
Sharpest Decline in Insolvencies in Saarland
Hesse experienced the strongest increase in insolvencies, with a rise of 27.2 percent compared with the previous year, followed by Thuringia (21.7 percent), Saxony-Anhalt (20.4 percent), and Rhineland-Palatinate (16.4 percent). Declines were observed in only four federal states: Berlin reported a decrease of 7.8 percent, Bremen 10.1 percent, and Saarland even saw insolvencies drop by 27.9 percent. In Mecklenburg‑Western Pomerania, the number of insolvencies remained almost unchanged (down 0.9 percent).
Majority of Insolvent Companies Have Been on the Market for Less Than Ten Years
The analysis by company age shows that 58.6 percent of insolvent firms had been in business for no longer than ten years. This includes companies aged 0–2 years (7.7 percent), 3–4 years (12.8 percent), 5–6 years (15.2 percent), 7–8 years (13.2 percent), and 9–10 years (9.7 percent). Companies with a market presence of more than ten years accounted for 41.4 percent of insolvencies.
More Than Ten Percent of Companies Are at Risk of Insolvency
According to current CRIF calculations, 322,470 companies in Germany (as of March 2026) are considered at risk of insolvency, representing 10.3 percent of all firms. This is 1.4 percentage points higher than in the previous year and marks another increase, despite the fact that the number of actual insolvencies has already been rising for several years.
In North Rhine-Westphalia, 74,800 companies are classified as at risk (11.8 percent). Bavaria counts 42,560 at-risk companies (7.2 percent), Baden-Württemberg 36,193 (8.5 percent). In Lower Saxony, 26,040 companies are affected (9.4 percent), in Hesse 25,222 (10.7 percent), and in Berlin 25,101, corresponding to a share of 14.9 percent. Rhineland‑Palatinate reports 13,168 at‑risk firms (9.0 percent), Schleswig-Holstein 9,796 (8.6 percent), and Thuringia 8,307, representing 12.9 percent.
For the analysis, CRIF evaluated a wide range of information on the financial situation of companies, providing insights into their payment capacity. This includes data from balance sheets, profit and loss statements, employee and revenue figures, as well as payment experiences. Information on existing court-registered negative indicators is also incorporated into the analysis. Companies are classified as at risk of insolvency if their current credit risk index lies between 4.5 and 6.0.
