In December, 11,719 mercantile companies were incorporated, 24.2% more than in the same month in 2024. The subscribed capital for incorporation recorded an annual increase of 28.2% and the average capital subscribed (65,581 euros) grew by 3.3%.
In addition, 2,865 companies increased their capital, 12.0% more than in December 2024. The subscribed capital in the increases decreased by 46.1%.
The number of dissolved companies grew by 11.4% year-on-year. 84.8% of them did so voluntarily.
18.0% of the mercantile companies created in December were engaged in Real Estate, Finance and Insurance and 15.9% in Construction. As for dissolved companies, 19.5% were engaged in Trade and 15.6% in Construction.
Percentage
Percentage
The economic activity with the largest subscribed capital of mercantile companies incorporated was Real estate, financial and insurance, with 318.74 million euros. In turn, Information and communications companies had the lowest capital, with 5.03 million.
Thousands of euros
Comunidad Foral de Navarra (88.3%), Illes Balears (44.5%) and Principado de Asturias (41.8%) recorded the highest annual growth in the number of mercantile companies created in December.
In turn, Región de Murcia (-0.7%) recorded the only decrease.
Percentage
In 2025, a total of 127,533 mercantile companies were incorporated, 7.9% more than in 2024. Capital subscribed in incorporations grew by 1.4%, while the average capital decresed by 6.0%.
In thousands
19.0% of the mercantile companies created in 2025 were engaged in Real Estate, Finance and Insurance and 16.2% in Trading. As for dissolved companies, 19.6% were Trade and 15.9% were Construction.
The communities with the highest number of mercantile companies incorporated in 2025 were Comunidad de Madrid (28,348), Cataluña (24,907) and Andalucía (21,503). On the other hand, La Rioja (481), Cantabria (970) and Comunidad Foral de Navarra (1,033) incorporated the lowest number of companies.
In turn, Comunidad de Madrid (7,964), Andalucía (4,540) and Comunitat Valenciana (1,900) were the communities with the highest number of dissolutions. Those with the fewest dissolutions registered were Comunidad Foral de Navarra (93), La Rioja (162) and Cantabria (309).
The data for 2025 are provisional and will be reviewed when the data for the same period in 2026 are published. All the results of this operation are available at INEbase.
In accordance with the Commission's Delegated Regulation (EU) 2023/137 the INE has begun to work on incorporating the new National Classification of Economic Activities CNAE-2025 in all its statistical operations.
In the case of Mercantile Companies, the first publication of results with CNAE-2025 will take place in March 2028.
The Mercantile Companies Statistics were created by Order of 30 April 1938. Their objective is to measure the demographics of companies, providing monthly information, at provincial and Autonomous Community level, on the companies incorporated, dissolved and those in which there have been changes in capital.
The source of information is the Central Mercantile Registry, which collects all provincial information on the registration of companies and entrepreneurs, as well as mercantile acts determined by law.
More information on the methodology and the standardised methodological report.
INE statistics are produced in accordance with the Code of Good Practice for European Statistics. More information on Quality at the INE and the Code of Best Practice.
Official INE account on
@es_ine