The fourth quarter of 2025 was shaped by CSDDD implementation, year-end planning, and 2026 budget projections. In this report, BMC analyses the key developments that impacted the Operations landscape during this period and their implications for our clients.
Executive Summary
Q4 2025 confirmed trends we had been tracking in the operations space. The regulatory environment continued to evolve at a demanding pace, with new developments requiring agile adaptation from organisations. The indicators we monitor closely reflect a dynamic landscape, with clear opportunities for those who act ahead of the curve.
Activity in our Operations department saw increased demand for advisory services, particularly regarding the management of the new regulatory framework. Companies with international structures showed greater need for cross-jurisdictional coordination.
Regulatory Updates
The key regulatory developments of this quarter were:
- CSDDD: compliance preparations beginning for groups with >500 employees
- Draft Budget 2026: presented with higher social spending and income tax reform
- ZEC 2025 close: over 400 companies registered, final applications processed
These provisions have direct implications for the operations strategies of our clients. We recommend reviewing internal procedures to ensure compliance within the established deadlines.
Key Indicators
Data we have analysed for Q4 2025 shows:
- Companies incorporated: 23.600
- Payroll mass change (%): +3.3%
- Business digitalisation (%): 66%
- Grants distributed (€M): 252
These indicators reflect market evolution and help contextualise strategic decisions for the coming quarter. The combined analysis of these factors points to a consolidation trend with pockets of high activity in specific segments.
Outlook
Looking ahead to the next quarter, we expect activity in the operations area to remain at elevated levels, driven by the close of pending transactions and new regulatory requirements. Organisations that have already begun their adaptation processes will be in a stronger competitive position.
Our accounting services and people services are available to support your organisation in managing these challenges. If you would like to analyse the specific impact of these developments on your business, do not hesitate to contact our team.
