Bayer Construct enters bankruptcy proceedings after revenue plunge

Bayer Construct, a company associated with businessman Attila Balázs, has initiated bankruptcy proceedings following a significant downturn in its financial performance. According to consolidated reports from the Budapest Stock Exchange, the company’s net revenue for the first half of 2025 fell by 25 percent, dropping from 122.274 billion forints to 91.826 billion forints.

Profitability saw an even sharper decline, with taxed results plummeting over 60 percent from 11.951 billion forints in the previous year's first half to 4.367 billion forints by the end of June. Material expenditures also decreased significantly, falling from 95.451 billion forints to 58.431 billion forints, suggesting a reduction in active projects.

The financial instability follows the government's decision to terminate office building contracts in Zugló, which has impacted the company's operations.