ERICA WG has published its document: "European non-financial listed groups: Analysis of 2024 data"

The study presents some highlights of European non-financial listed groups, on profitability and financial structure in 2024, as well as financial debt structure and cost of debt.

One of the main findings of the study is that the macroeconomic conditions (weak demand, geopolitical tensions and high interest rates) weighed on energy and industry, while services and construction remained resilient during 2024. As a consequence, equity edged up while net indebtedness remained constant. The cost of debt continued to rise, but at a slower pace.

ERICA (European Records of IFRS Consolidated Accounts), is a database, for internal use within the members of ECCBSO, composed of a dataset of around 1,000 European non-financial groups, fully representative of the stock markets of the countries participating in the project (Austria, Belgium, France, Italy, Germany, Greece, Portugal and Spain). The data are obtained from publicly available financial statements, having been treated manually, by CBSO statistics and accounting specialists, to be fitted on a standard European format (ERICA format). This manual treatment means, in some cases, the interpretation of the original data, a constraint that readers of this document should bear in mind.

The workshop "New insights from financial statements", co-organised by the ECCBSO, the Bank of Spain and the Irving Fisher Committee on Central Bank Statistics (IFC) of the Bank for International Settlements (BIS), took place in Madrid, Spain in October 2024. This event brought together statisticians, researchers, and data analysts, providing an exceptional platform for discussing research findings related to firm-level information.
 

The proceedings of this workshop have now been published as IFC Bulletin No 65 on 27 August 2025. At the following IFC site - New insights from financial statements - the respective research papers of the four thematic sessions are made available as well as an overview of the findings: "Leveraging corporate financial statements for policy insights". The summary also outlines a roadmap for enhancing the use of financial statements and sustainability data for central bank’s tasks.
 

ERICA WG has published its document: "European non-financial listed groups: Analysis of 2023 data"

The study presents some highlights of European non-financial listed groups, on profitability and financial structure in 2023, as well as financial debt structure and cost of debt. One of the main findings of the study is that the macroeconomic conditions led to a further slow down in growth during 2023. As a consequence, equity was slightly affected while net indebtedness remained constant. The cost of debt increased following the rising trend of euribor rates across all time frames.

ERICA (European Records of IFRS Consolidated Accounts), is a database, for internal use within the members of ECCBSO, composed of a dataset of around 1,000 European non-financial groups, fully representative of the stock markets of the countries participating in the project (Austria, Belgium, France, Italy, Germany, Greece, Portugal and Spain). The data are obtained from publicly available financial statements, having been treated manually, by CBSO statistics and accounting specialists, to be fitted on a standard European format (ERICA format). This manual treatment means, in some cases, the interpretation of the original data, a constraint that readers of this document should bear in mind.