Revenue
61.13m€3.5× since 2015
0.3% of Montenegro's revenue
Education
471 companies earned 61.13m€ in 2025, 0.3% of all company revenue in Montenegro. It ranks 16 of 18 sectors by revenue. Revenue has grown 3.5× since 2015.
Nationwide · 2025
Year
Overview
Companies
471+324 since 2015
234 with at most one employee
Employees
2,3982.6× since 2015
Largest employer: Sergije Stanić (203)
Profit margin
2.4%3.7 pts below average
Total profit: 1.48m€
This sector 2.4%Montenegro: 6.1%
Payroll cost/emp./mo*
1,370€10% above average
Average per employee, not per company
This sector 1,370€Montenegro: 1,242€
Revenue and companies since 2015
FinalPreliminary
Revenue in € million (bars) and filing companies (below), 2015–2025
| Year | Revenue | Companies |
|---|---|---|
| 2015 | 17,418,893€ | 147 |
| 2016 | 20,877,059€ | 156 |
| 2017 | 22,034,473€ | 168 |
| 2018 | 22,574,319€ | 189 |
| 2019 | 24,420,913€ | 226 |
| 2020 | 23,849,408€ | 244 |
| 2021 | 28,985,166€ | 274 |
| 2022 | 36,727,504€ | 342 |
| 2023 | 46,866,170€ | 402 |
| 2024 | 54,456,998€ | 440 |
| 2025 (Preliminary) | 61,129,031€ | 471 |
What changed in 2025
Growth is measured on the same companies, which filed for both years.
- Revenue, same companies (415)
- 54.11m€ → 60.68m€
- Employees, same companies
- 2,006 → 2,325
- Payroll cost per employee, same companies
- 1,286€ → 1,402€
- Filed for 2025, not for 2024
- 56 companies · 450,942€
- Filed for 2024, not for 2025
- 25 companies, 342,261€ in 2024
Activities in this sector
22.9%
- Companies
- 28
- Employees
- 309
- Revenue
- 14,005,983€
22.4%
- Companies
- 20
- Employees
- 567
- Revenue
- 13,720,515€
16.4%
- Companies
- 150
- Employees
- 378
- Revenue
- 10,024,820€
9.4%
- Companies
- 8
- Employees
- 127
- Revenue
- 5,769,120€
- Companies
- 8
- Employees
- 264
- Revenue
- 4,909,258€
7.6%
- Companies
- 59
- Employees
- 206
- Revenue
- 4,672,258€
6.1%
- Companies
- 135
- Employees
- 272
- Revenue
- 3,726,984€
5.1%
- Companies
- 22
- Employees
- 195
- Revenue
- 3,137,223€
1.4%
- Companies
- 16
- Employees
- 43
- Revenue
- 840,082€
0.5%
- Companies
- 25
- Employees
- 37
- Revenue
- 322,788€
Total
- Companies
- 471
- Employees
- 2,398
- Revenue
- 61,129,031€
Where they are and who is growing
Revenue by municipality
Share of the sector's revenue
- Podgorica 30.52m€49.9%
- Budva 8.20m€13.4%
- Bar 5.22m€8.5%
- Tivat 4.66m€7.6%
- Kotor 4.58m€7.5%
- Herceg Novi 2.35m€3.8%
- Berane 1.14m€1.9%
- Other municipalities (11) 4.43m€7.2%
Fastest growing
Revenue change vs 2024, companies with at least 1m€ that year
- Mol Trening Centar (evropa)1.04m€ → 1.32m€+27.0%
- British International School Arcadia Academy2.73m€ → 3.09m€+13.2%
- United Kids International Montenegro1.07m€ → 1.20m€+12.8%
- Stefan Mitrov Ljubiša1.89m€ → 2.05m€+8.5%
- Adriatikkoledž2.51m€ → 2.68m€+6.6%
Largest employers
Employees and payroll cost per employee per month*
- 2031,123€
- 1431,104€
- 110—
- 781,402€
- 701,851€
All companies (471)
Ranked by total revenue · Showing 1–50 of 471
- 1Sergije Stanić02010607 · PodgoricaRevenue share5.9%
- Revenue
- 3,630,325€
- Revenue change 2024→2025
- +4.3%
- Profit
- -652,369€
- Margin
- -18.0%
- Employees
- 203
- Payroll cost/emp./mo*
- 1,123€
- 2Knightsbridge Schools Montenegro02799316 · TivatRevenue share5.9%
- Revenue
- 3,592,954€
- Revenue change 2024→2025
- -6.4%
- Profit
- 59,174€
- Margin
- 1.6%
- Employees
- 58
- Payroll cost/emp./mo*
- 2,615€
- 3British International School Arcadia Academy03080528 · KotorRevenue share5.1%
- Revenue
- 3,087,463€
- Revenue change 2024→2025
- +13.2%
- Profit
- 469,711€
- Margin
- 15.2%
- Employees
- 37
- Payroll cost/emp./mo*
- 2,320€
- 4Adriatikkoledž03038726 · BudvaRevenue share4.4%
- Revenue
- 2,678,553€
- Revenue change 2024→2025
- +6.6%
- Profit
- 78,487€
- Margin
- 2.9%
- Employees
- 70
- Payroll cost/emp./mo*
- 1,851€
- 5Qsi International School of Montenegro02750490 · PodgoricaRevenue share3.6%
- Revenue
- 2,222,098€
- Revenue change 2024→2025
- +0.5%
- Profit
- 206,193€
- Margin
- 9.3%
- Employees
- 34
- Payroll cost/emp./mo*
- 2,645€
- 6Stefan Mitrov Ljubiša02005646 · BudvaRevenue share3.3%
- Revenue
- 2,046,249€
- Revenue change 2024→2025
- +8.5%
- Profit
- -6,900€
- Margin
- -0.3%
- Employees
- 143
- Payroll cost/emp./mo*
- 1,104€
- 7Mediteran02466775 · PodgoricaRevenue share2.7%
- Revenue
- 1,649,773€
- Revenue change 2024→2025
- -6.3%
- Profit
- -160,303€
- Margin
- -9.7%
- Employees
- 78
- Payroll cost/emp./mo*
- 1,402€
- 8Univerzitet Donja Gorica Podgorica02779129 · PodgoricaRevenue share2.2%
- Revenue
- 1,352,048€
- Revenue change 2024→2025
- -4.0%
- Profit
- 7,409€
- Margin
- 0.5%
- Employees
- 25
- Payroll cost/emp./mo*
- 2,824€
- 9Mol Trening Centar (evropa)02347806 · Herceg NoviRevenue share2.2%
- Revenue
- 1,323,022€
- Revenue change 2024→2025
- +27.0%
- Profit
- 155,050€
- Margin
- 11.7%
- Employees
- 12
- Payroll cost/emp./mo*
- 5,301€
- 10The British Academy03685063 · PodgoricaRevenue share2.2%
- Revenue
- 1,315,032€
- Revenue change 2024→2025
- +323.1%
- Profit
- 56,574€
- Margin
- 4.3%
- Employees
- 29
- Payroll cost/emp./mo*
- 1,601€
- 11Fakultet za Poslovni Menadžment02425769 · BarRevenue share2.0%
- Revenue
- 1,232,616€
- Revenue change 2024→2025
- +3.9%
- Profit
- 217,321€
- Margin
- 17.6%
- Employees
- 11
- Payroll cost/emp./mo*
- 3,105€
- 12International Student Exchange Montenegro02864070 · PodgoricaRevenue share2.0%
- Revenue
- 1,210,374€
- Revenue change 2024→2025
- +37.7%
- Profit
- 34,547€
- Margin
- 2.9%
- Employees
- 7
- Payroll cost/emp./mo*
- 2,876€
- 13United Kids International Montenegro03195180 · PodgoricaRevenue share2.0%
- Revenue
- 1,203,163€
- Revenue change 2024→2025
- +12.8%
- Profit
- 201,489€
- Margin
- 16.7%
- Employees
- 46
- Payroll cost/emp./mo*
- 1,169€
- 14Gimnazija Sveti Sava03435539 · PodgoricaRevenue share1.9%
- Revenue
- 1,138,343€
- Revenue change 2024→2025
- -1.3%
- Profit
- 0€
- Margin
- 0.0%
- Employees
- 6
- Payroll cost/emp./mo*
- 2,227€
- 15Fakultet za Pomorstvo i Turizam Bar02864096 · BarRevenue share1.6%
- Revenue
- 998,942€
- Revenue change 2024→2025
- +2.0%
- Profit
- 80,066€
- Margin
- 8.0%
- Employees
- 12
- Payroll cost/emp./mo*
- 3,779€
- 16Fakultet za Međunarodnu Ekonomiju, Finansije i Biznis Podgorica02652382 · PodgoricaRevenue share1.5%
- Revenue
- 889,007€
- Revenue change 2024→2025
- +4.9%
- Profit
- 113,420€
- Margin
- 12.8%
- Employees
- 10
- Payroll cost/emp./mo*
- 2,674€
- 17Fakultet Primijenjene Nauke03077276 · PodgoricaRevenue share1.3%
- Revenue
- 818,517€
- Revenue change 2024→2025
- +4.2%
- Profit
- 58,121€
- Margin
- 7.1%
- Employees
- 13
- Payroll cost/emp./mo*
- 2,789€
- 18HRS Technologies03415775 · BudvaRevenue share1.3%
- Revenue
- 805,881€
- Revenue change 2024→2025
- +2.5%
- Profit
- 126,941€
- Margin
- 15.8%
- Employees
- 13
- Payroll cost/emp./mo*
- 3,719€
- 19Fakultet za Poslovnu Ekonomiju i Pravo02742969 · BarRevenue share1.2%
- Revenue
- 730,498€
- Revenue change 2024→2025
- -3.6%
- Profit
- 190,894€
- Margin
- 26.1%
- Employees
- 13
- Payroll cost/emp./mo*
- 2,610€
- 20Centar za Kulturu - Ulcinj / Institucioni Publik02020629 · UlcinjRevenue share1.1%
- Revenue
- 700,301€
- Revenue change 2024→2025
- +22.9%
- Profit
- 185,487€
- Margin
- 26.5%
- Employees
- 25
- Payroll cost/emp./mo*
- 1,208€
- 21Fakultet Pravnih Nauka Podgorica02651882 · PodgoricaRevenue share1.1%
- Revenue
- 688,528€
- Revenue change 2024→2025
- +7.6%
- Profit
- -14,262€
- Margin
- -2.1%
- Employees
- 14
- Payroll cost/emp./mo*
- 1,695€
- 22Srednja Stručna Škola02009897 · PljevljaRevenue share1.1%
- Revenue
- 686,473€
- Revenue change 2024→2025
- +13.4%
- Profit
- 9,724€
- Margin
- 1.4%
- Employees
- 30
- Payroll cost/emp./mo*
- 1,051€
- 23Braća Selić02004461 · KolašinRevenue share1.1%
- Revenue
- 679,688€
- Revenue change 2024→2025
- -5.7%
- Profit
- -3,638€
- Margin
- -0.5%
- Employees
- 36
- Payroll cost/emp./mo*
- 1,372€
- 24Fakultet za Informacione Sisteme i Tehnologije Podgorica02717450 · PodgoricaRevenue share1.1%
- Revenue
- 665,292€
- Revenue change 2024→2025
- +17.0%
- Profit
- 20,797€
- Margin
- 3.1%
- Employees
- 8
- Payroll cost/emp./mo*
- 2,826€
- 25BMV Shipping Services02103133 · BarRevenue share1.0%
- Revenue
- 598,429€
- Revenue change 2024→2025
- -9.0%
- Profit
- 27,300€
- Margin
- 4.6%
- Employees
- 8
- Payroll cost/emp./mo*
- 1,165€
- 26Viktorija02289571 · BeraneRevenue share0.9%
- Revenue
- 571,277€
- Revenue change 2024→2025
- +33.2%
- Profit
- 140,964€
- Margin
- 24.7%
- Employees
- 12
- Payroll cost/emp./mo*
- 1,228€
- 27L' Ecole Francaise Europeenne De Podgorica03504255 · PodgoricaRevenue share0.9%
- Revenue
- 570,876€
- Revenue change 2024→2025
- +10.0%
- Profit
- -11,543€
- Margin
- -2.0%
- Employees
- 17
- Payroll cost/emp./mo*
- 2,227€
- 28Fakultet za Kulturu i Turizam02981777 · PodgoricaRevenue share0.9%
- Revenue
- 556,036€
- Revenue change 2024→2025
- -7.0%
- Profit
- 26,554€
- Margin
- 4.8%
- Employees
- 9
- Payroll cost/emp./mo*
- 2,196€
- 29Fakultet Humanističke Studije Podgorica02692112 · PodgoricaRevenue share0.9%
- Revenue
- 553,923€
- Revenue change 2024→2025
- +12.1%
- Profit
- 4,599€
- Margin
- 0.8%
- Employees
- 11
- Payroll cost/emp./mo*
- 1,876€
- 30Artić Pinokio02810069 · PodgoricaRevenue share0.9%
- Revenue
- 546,270€
- Revenue change 2024→2025
- +19.6%
- Profit
- 64,963€
- Margin
- 11.9%
- Employees
- 22
- Payroll cost/emp./mo*
- 1,197€
- 31Fakultet za Mediteranske Poslovne Studije, Tivat02742128 · TivatRevenue share0.9%
- Revenue
- 537,707€
- Revenue change 2024→2025
- +15.7%
- Profit
- 44,511€
- Margin
- 8.3%
- Employees
- 11
- Payroll cost/emp./mo*
- 2,785€
- 32Fakultet za Dizajn i Multimediju Podgorica02924323 · PodgoricaRevenue share0.8%
- Revenue
- 512,929€
- Revenue change 2024→2025
- +14.7%
- Profit
- 31,251€
- Margin
- 6.1%
- Employees
- 13
- Payroll cost/emp./mo*
- 1,946€
- 33J.U. Centar za Kulturu - Berane02008840 · BeraneRevenue share0.8%
- Revenue
- 483,366€
- Revenue change 2024→2025
- +6.1%
- Profit
- -14,853€
- Margin
- -3.1%
- Employees
- 30
- Payroll cost/emp./mo*
- 988€
- 34Regionalni Ronilački Centar za Podvodno Deminiranje i Obuku Ronilaca02361388 · PodgoricaRevenue share0.8%
- Revenue
- 472,142€
- Revenue change 2024→2025
- +2.4%
- Profit
- 46,578€
- Margin
- 9.9%
- Employees
- 14
- Payroll cost/emp./mo*
- 1,788€
- 35Politehnika02815958 · PodgoricaRevenue share0.8%
- Revenue
- 459,320€
- Revenue change 2024→2025
- +11.9%
- Profit
- 65,715€
- Margin
- 14.3%
- Employees
- 7
- Payroll cost/emp./mo*
- 2,322€
- 36Fakultet za Menadžment02741440 · Herceg NoviRevenue share0.7%
- Revenue
- 420,938€
- Revenue change 2024→2025
- -2.9%
- Profit
- 19,422€
- Margin
- 4.6%
- Employees
- 8
- Payroll cost/emp./mo*
- 3,064€
- 37Institut Računovođa i Revizora Crne Gore02355329 · PodgoricaRevenue share0.7%
- Revenue
- 418,153€
- Revenue change 2024→2025
- +17.8%
- Profit
- -22,827€
- Margin
- -5.5%
- Employees
- 8
- Payroll cost/emp./mo*
- 3,765€
- 38Plava Jedra03280268 · PodgoricaRevenue share0.6%
- Revenue
- 388,940€
- Revenue change 2024→2025
- -6.4%
- Profit
- -14,671€
- Margin
- -3.8%
- Employees
- 23
- Payroll cost/emp./mo*
- 1,105€
- 39Zopt02464888 · PodgoricaRevenue share0.6%
- Revenue
- 366,517€
- Revenue change 2024→2025
- -21.4%
- Profit
- 6,343€
- Margin
- 1.7%
- Employees
- 15
- Payroll cost/emp./mo*
- 1,295€
- Revenue share0.6%
- Revenue
- 345,295€
- Revenue change 2024→2025
- +14.8%
- Profit
- 52,417€
- Margin
- 15.2%
- Employees
- 6
- Payroll cost/emp./mo*
- 2,704€
- 41Fakultet Slobodnih Umjetnosti i Nauka Budva03502244 · BudvaRevenue share0.5%
- Revenue
- 309,872€
- Revenue change 2024→2025
- +160.1%
- Profit
- 25,586€
- Margin
- 8.3%
- Employees
- 9
- Payroll cost/emp./mo*
- 1,041€
- 42Logate Institut za Informacione Tehnologije03345564 · PodgoricaRevenue share0.5%
- Revenue
- 307,419€
- Revenue change 2024→2025
- +62.3%
- Profit
- 47,020€
- Margin
- 15.3%
- Employees
- 5
- Payroll cost/emp./mo*
- 3,423€
- 43Gimnazija Podgorica03674487 · PodgoricaRevenue share0.5%
- Revenue
- 304,150€
- Revenue change 2024→2025
- +240.6%
- Profit
- 29,481€
- Margin
- 9.7%
- Employees
- 27
- Payroll cost/emp./mo*
- 620€
- 44Adriatic Open03570894 · BarRevenue share0.5%
- Revenue
- 299,984€
- Revenue change 2024→2025
- +59.7%
- Profit
- -88,888€
- Margin
- -29.6%
- Employees
- 21
- Payroll cost/emp./mo*
- 1,104€
- 45Maštolend03306526 · BudvaRevenue share0.5%
- Revenue
- 293,971€
- Revenue change 2024→2025
- +35.2%
- Profit
- 32,750€
- Margin
- 11.1%
- Employees
- 13
- Payroll cost/emp./mo*
- 963€
- 46Točak02412012 · PodgoricaRevenue share0.5%
- Revenue
- 292,133€
- Revenue change 2024→2025
- +7.3%
- Profit
- 18,209€
- Margin
- 6.2%
- Employees
- 4
- Payroll cost/emp./mo*
- 3,000€
- 47Pamark02811731 · PodgoricaRevenue share0.5%
- Revenue
- 287,237€
- Revenue change 2024→2025
- +10.9%
- Profit
- 4,475€
- Margin
- 1.6%
- Employees
- 9
- Payroll cost/emp./mo*
- 1,444€
- 48Revenue share0.5%
- Revenue
- 280,195€
- Revenue change 2024→2025
- +3.3%
- Profit
- -90,520€
- Margin
- -32.3%
- Employees
- 14
- Payroll cost/emp./mo*
- 1,841€
- 49Signal B&D03604616 · PodgoricaRevenue share0.4%
- Revenue
- 274,510€
- Revenue change 2024→2025
- +15.7%
- Profit
- 39,237€
- Margin
- 14.3%
- Employees
- 11
- Payroll cost/emp./mo*
- 1,373€
- 50Vini Pu02858843 · BudvaRevenue share0.4%
- Revenue
- 263,593€
- Revenue change 2024→2025
- +18.6%
- Profit
- 2,963€
- Margin
- 1.1%
- Employees
- 14
- Payroll cost/emp./mo*
- 918€
* Avg payroll cost per employee per month = wages, wage compensation and other personnel expenses from the income statement (AOP 211: net wages, taxes and contributions on wages including the employer's, and other personnel expenses) / employees / 12. It is not an employee's gross or net salary; reporting errors can move it significantly, and values below 300€ a month are not shown. How we calculate →
Totals include 3 sole proprietors: natural persons whose statements are shown only in aggregate, never by name. The company count excludes them. How we calculate →
Source: Tax Administration / CRPSCurrency: EUR