This financial strain is affecting over 40% of these entities, with the number of those in imminent insolvency now at a decade-high of 8,749, a 7% increase from 2023.

Paul-Dieter Cîrlănaru, CEO of CITR, said: "The Romanian economy is in a fragile equilibrium: large companies are still supporting economic activity, but they are doing so with an increasingly high degree of indebtedness. In this context, the stagnation of profit and the rise in debt for impact companies threaten their long-term stability, limiting their capacity for investment and innovation."

The macroeconomic climate of 2024, marked by high financing costs and volatile domestic demand, has put pressure on companies' profit margins. Although large companies have managed to sustain operations, they are increasingly dependent on external financing, indicating that the economy is resisting, but not truly recovering. These impact companies generate 83% of the economy's total turnover and hold 85% of its total debt.

The analysis highlights a significant concentration of risk, with just 275 companies accounting for 46% of the total debt. Furthermore, companies with assets over €50 million, while making up only 2% of impact companies in imminent insolvency, hold 50% of the debt within this segment.

The most significant increases in debt were observed in real estate transactions (+42%) and energy (+24%). In contrast, the construction and manufacturing sectors have reduced their debt.