The Bank of Spain published a statistical release from its Central Balance Sheet databases on the 2025 activity and results of non-financial corporations, showing net turnover growth but a slight decline in net ordinary results and lower asset profitability, with energy and petroleum refining heavily influencing the aggregate. Net turnover in the Quarterly Central Balance Sheet sample increased 3.4% in 2025 after a 1.5% drop in 2024, with positive rates in most activities and a 1% fall in industry driven by a 10.4% decline in petroleum refining turnover. Excluding the energy sector and refining, sales would have risen 5.2%. Gross value added grew 1.7% (4.8% excluding energy and refining, and 4.4% on a reweighted basis). Net ordinary result fell 0.4% overall, versus a 6% rise in 2024, but would have increased 2.7% when energy and refining are excluded. The ordinary return on assets ratio decreased to 6.5% from 7.2%, remaining above its historical average, and trade and hospitality was the only sector to improve (14.8% from 11.9%). In the fourth quarter of 2025, 65.3% of firms reported higher sales and 55.3% higher net ordinary results, while changes in return on assets were more evenly distributed (48.3% improving and 51.2% worsening). The Quarterly Central Balance Sheet sample covers 890 firms and around 10.7% of national non-financial corporate gross value added, with industrial, energy and large firms overrepresented. The first quarter 2026 indicators are scheduled for publication on 24 June 2026.
Bank of Spain publishes 2025 corporate indicators showing non-financial sales up 3.4% and return on assets down to 6.5%
The Bank of Spain released data from its Central Balance Sheet databases, highlighting a 3.4% increase in net turnover for non-financial corporations in 2025, despite a 0.4% decline in net ordinary results and reduced asset profitability. The energy and petroleum refining sectors significantly impacted these figures, with a 10.4% drop in petroleum refining turnover. Excluding these sectors, sales would have risen 5.2%, and net ordinary results would have increased by 2.7%.