Payment behavior of German companies deteriorates noticeably in March 2026 and is increasingly developing into an important leading indicator of growing economic risks and insolvencies.
Current analyses by CRIF Germany show that invoices were paid significantly later in March 2026 than at the beginning of the year. Nationwide, the average duration of payment delays among non‑payers and late payers stood at 31.6 days, considerably higher than the 20.1 days recorded in February 2026 and also above the level of the previous year’s quarter (Q1 2025: 24.2 days). These are the key findings of a recent analysis by information services provider CRIF, which evaluated the payment behavior of nearly 520,000 companies for this study.
“The sharp increase within just one month indicates that liquidity bottlenecks are currently intensifying noticeably for many companies. A portion of businesses are holding back payments much longer to safeguard their own financial flexibility—this has immediate consequences for suppliers and business partners,” explains Dr. Frank Schlein, Managing Director of CRIF Germany, commenting on the latest figures.
German companies grant their creditors an average payment term of 26 days. Among non‑payers and late payers, invoices are currently settled only after an average of approximately 58 days.
“Due to these significantly extended payment delays, companies are now waiting more than twice as long for incoming payments as originally planned. As a result, they are effectively taking on a financing role and providing liquidity to their customers without having planned for it or being compensated,” says Dr. Schlein.
Sharp increase in Berlin
This rise in overdue payment days can be observed almost nationwide across Germany’s federal states and is in some cases very pronounced on a month‑to‑month basis. In Berlin, the average number of overdue days increased from 26.5 days in February to 40.4 days in March. Brandenburg recorded an increase from 21.0 to 35.0 days, Lower Saxony from 21.7 to 35.3 days, and Rhineland‑Palatinate from 20.9 to 35.0 days. Hamburg also reported a significant jump from 20.8 to 30.2 days.
Even economically strong federal states were not spared by this trend: In Baden‑Württemberg, overdue days increased from 17.2 to 30.7 days, while Bavaria saw a rise from 19.0 to 30.3 days.
“These figures clearly show that liquidity problems are no longer confined to individual sectors or structurally weak regions, but are increasingly affecting the German economy as a whole,” Dr. Schlein emphasizes.
Percentage of non‑payers and late payers declines
At the same time, the percentage of non‑payers and late payers has declined nationwide. In March 2026, 9.9 percent of companies paid their invoices late or not at all, compared with 13.2 percent in March 2025. However, this development does not imply an overall easing of risks. Rather, it indicates that many economically stable companies place great importance on timely payments and are settling their invoices more consciously and with greater discipline than in more stable economic periods. In doing so, they safeguard their supply chains, business relationships, and their own reliability in the market.
At the same time, financially strained companies are not paying late more frequently, but significantly later, leading to increasingly prolonged payment arrears. Particularly high shares of non‑payers and late payers continue to be observed in Berlin (19.4 percent), Saarland (15.9 percent), Hesse (15.4 percent), and Mecklenburg‑Western Pomerania (14.0 percent).
More insolvencies expected
“We are currently observing a close correlation between companies’ payment behavior and subsequent insolvency developments,” says Dr. Schlein. “Significantly longer payment delays are a reliable indication that economic difficulties are intensifying. Payment behavior therefore provides early warning signals for potential insolvencies in the months ahead.”
This trend is increasingly reflected in insolvency dynamics. Against the backdrop of current payment and risk data, CRIF Germany has raised its insolvency forecast for 2026 to up to 26,000 corporate insolvencies, up from 24,800 cases projected at the beginning of the year. This would represent an increase of approximately 8.3 percent compared to 2025. If confirmed, it would mark the highest number of corporate insolvencies since 2013.
The causes of the strained situation lie in an economic environment that remains extremely uncertain. Geopolitical tensions, particularly in the Middle East, are weighing on energy and commodity markets and have led to sharply higher oil and gas prices. Rising energy and fuel costs are also eroding the purchasing power of private households, leaving less disposable income for domestic consumption. In addition, new tariff risks and trade policy tensions are increasing uncertainty in international business. Investments are being postponed, costs continue to rise, and financial pressure is noticeably intensifying along value chains.
