Bulgaria B2B payment practice trends 2025

B2B paymentpractices trends In this report About the Atradius the Atradius Payment Practices Barometer is an annual survey ofbusiness-to-business (B2B) payment practices in markets across the our survey gives you the opportunity to hear directly from businessestrading on credit with B2B customers about how they are coping withevolving trends in customer payment behaviour. Staying informedabout these trends is vital because it helps to identify emerging shifts in Businesses operating in – or planning to enter – the markets andindustries covered by our survey can gain valuable insights from ourreports, which also shed light on the challenges and risks companies this report presents the survey results forBulgaria. the survey was conducted between the end of Q1 and mid- Q2 2025.Survey findings should therefore be viewed with this in mind. B2B paymentpractices trends risk-averse approach amid rise in late payments A risk-averse mood is apparent among companies in our survey of theB2B landscape in Bulgaria. Around 43% of sales to business customersare transacted on credit, an indicator that trade credit remains a keysales tool. most companies have not altered their credit policies inrecent months, choosing instead to maintain stability amid economic Payment terms are largely steady, typically ranging between 30 to 60days from invoicing. Where changes occur companies tend to lengthenterms, although with a strong awareness of potential risks. nearly 60%of B2B invoices in Bulgaria are currently overdue, largely due to days Sales outstanding (dSo) is either stable or worse for many, whileinventory turnover remains flat or even negative, tying up additionalliquidity. in response, days Payables outstanding (dPo) haslengthened, with many businesses choosing to delay supplier paymentsas short-term relief from liquidity pressures. invoice financing is the to mitigate payment risks 40% of Bulgarian companies rely on internalprovisioning, though this can strain internal resources. most othersprefer a combined approach that includes outsourced credit riskmanagement involving insurance, pointing to a more strategic,diversified risk mitigation approach. With high overdue rates and Key figures and charts Bulgaria Bulgaria % of the total value of B2B invoices paid on time, What are the top 4 reasons your B2B customers payinvoices late? (% of respondents - multiple responses) Source: Atradius Payment Practices Barometer Bulgaria –2025 Bulgaria Bulgaria % of respondents reporting changes in days Salesoutstanding (dSo)* over the past 12 months What are the main sources of financing that yourcompany used during the past 12 months? 50% Invoice financing44% Bank loans36% Trade credit(% of respondents - multiple response) Sample: all survey respondentsSource: Atradius Payment Practices Barometer Bulgaria –2025 Looking ahead turbulent trading conditions spark concernabout rising risk of insolvencies companies across all sectors in Bulgaria are bracing for a moreturbulent financial environment in the months ahead amid growingconcern about customer liquidity and economic instability,particularly in a market already challenged by prolonged payment days Sales outstanding (dSo) is expected to remain unchanged orworsen, with longer payment cycles anticipated across the board.this puts further pressure on working capital and limits the abilityof companies to unlock cash from receivables. inventory levels arealso expected to stagnate or rise, suggesting ongoing difficulties in expectations for sales growth are subdued, with most companiespredicting flat performance and many others anticipating a declinein profitability. this cautious outlook highlights the fragile balanceBulgarian businesses are trying to maintain in supporting increasing regulatory burdens and compliance requirements aremajor concerns for the future, alongside rising production inputcosts which are already influencing operational decisions andinvestment planning. Attracting and retaining skilled talent alsoremains a pressing issue, particularly in a competitive labourmarket. in this climate of uncertainty, Bulgarian businesses are Key figures and charts on the next page Key industry insights Agri-food 42% of B2B sales are currently transacted on credit in this sector,suggesting companies keep a careful balance between supportingcustomer relationships and managing risk. trade credit offerings arestable for 53% of businesses, and around three in five firms reportoffering steady payment terms. most credit periods cap at 60 days,reflecting a measured payment policy. overdue payments have most companies report stagnant or even growing inventories, anddSo remains mostly unchanged, limiting options to unlock liquidityfrom receivables or stock. dPo has also held steady for most, thoughmany firms admit to delaying payments to preserve liquidity. Bankcredit remains the primary source of external finance. 47% ofbusinesses anticipate rising insolven