The debt of listed companies has increased by 144 percent in less than two years.

The debt of companies listed on the Warsaw Stock Exchange has increased by 144% in less than two years, to a total of PLN 20.89 million, according to data from the National Debt Register. The largest debt is in the industrial production and construction/assembly sectors, at PLN 14.46 million.

Although this sum represents a small fraction of the total market value of these companies, experts emphasize its potentially colossal importance for smaller suppliers, often operating as subcontractors.

The study reveals that the industrial and construction sectors are the most indebted, and the problem of late payments by large, seemingly stable entities poses a real threat to micro- and small enterprises, which often do not have the financial reserves or negotiating power to recover their debts.

According to the National Debt Register (KRD), 54 of the 363 companies listed on the Warsaw Stock Exchange (GPW) are indebted. Their creditors include 152 companies, which owe 666 overdue liabilities totaling PLN 20.89 million. The market value of the three companies with the largest debts is PLN 1.4 billion, PLN 47 million, and PLN 773 million, respectively, and they owe their suppliers PLN 4.4 million, PLN 2.6 million, and PLN 2.3 million, respectively.

The total market value of all the unreliable companies analyzed is PLN 61.1 billion. Compared to this amount, PLN 20.89 million in debt represents 0.3 per mille.

Compared to September 2023, the debt of listed companies has increased almost 2.5-fold. At that time, 290 overdue liabilities were recorded, totaling PLN 8.55 million, and the KRD database listed 47 companies listed on the Warsaw Stock Exchange. Today, there are 54 such companies, the number of liabilities has increased to 666, and their value to PLN 20.89 million.

According to the National Debt Register (KRD), the largest debt is in the industrial production and construction/assembly sectors, at PLN 14.46 million. Sixteen listed companies in this sector are indebted, with a total of 229 liabilities and 52 creditors. Next in line are companies in the consumer goods sector (PLN 2.8 million), fuels and energy (PLN 2.2 million), and chemicals and raw materials (PLN 564,000).

In terms of market value, smaller-capitalization companies are most indebted. Among companies valued at up to PLN 100 million, there are 30 indebted entities with total liabilities of PLN 7.7 million. At the other end of the scale, there are 11 companies valued at over PLN 1 billion with total debt of PLN 7.2 million.

The "Debts of Listed Companies" study was conducted on 363 domestic companies listed on the Warsaw Stock Exchange on June 13, 2025. This is the 12th edition. The current ranking was prepared by the National Debt Register in cooperation with experts from Reliable Company. (PAP)

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