Revenue
3.6% of Montenegro's revenue
1,939 companies earned 641.26m€ in 2025, 3.6% of all company revenue in Montenegro. It ranks 8 of 18 sectors by revenue. Revenue has grown 2.2× since 2015.
3.6% of Montenegro's revenue
1,369 with at most one employee
Largest employer: Mtel (559)
Total profit: 121.61m€
Average per employee, not per company
Revenue in € million (bars) and filing companies (below), 2015–2025
| Year | Revenue | Companies |
|---|---|---|
| 2015 | 291,103,596€ | 327 |
| 2016 | 294,357,002€ | 366 |
| 2017 | 318,377,841€ | 427 |
| 2018 | 330,327,585€ | 510 |
| 2019 | 327,716,410€ | 570 |
| 2020 | 317,986,899€ | 678 |
| 2021 | 344,010,078€ | 886 |
| 2022 | 461,575,305€ | 1,491 |
| 2023 | 543,598,360€ | 1,789 |
| 2024 | 573,609,156€ | 1,893 |
| 2025 (Preliminary) | 641,264,304€ | 1,939 |
The number of companies jumped most in 2022: from 886 to 1,491.
Growth is measured on the same companies, which filed for both years.
Share of the sector's revenue
Revenue change vs 2024, companies with at least 1m€ that year
Employees and payroll cost per employee per month*
Ranked by total revenue · Showing 51–100 of 1,939
* 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 39 sole proprietors: natural persons whose statements are shown only in aggregate, never by name. The company count excludes them. How we calculate →
| Employees |
|---|
| Payroll cost/emp./mo* |
|---|
| 51 | MB Com02948346 · Podgorica | 0.2% | 1,270,533€ | +27.0% | 16,101€ | 1.3% | 4 | 1,106€ |
| 52 | HTL Devco03421180 · Podgorica | 0.2% | 1,269,476€ | -13.0% | 37,132€ | 2.9% | 21 | 4,096€ |
| 53 | 4sec02903237 · Podgorica | 0.2% | 1,213,409€ | +0.7% | 424,374€ | 35.0% | 1 | 9,566€ |
| 54 | Customertimes Montenegro03413616 · Podgorica | 0.2% | 1,208,079€ | -42.5% | 2,583€ | 0.2% | 54 | 1,375€ |
| 55 | Infinum Montenegro03360962 · Podgorica | 0.2% | 1,139,956€ | +17.8% | 220,752€ | 19.4% | 21 | 2,939€ |
| 56 | Page03007880 · Podgorica | 0.2% | 1,111,444€ | +54.6% | 3,842€ | 0.3% | 36 | 1,053€ |
| 57 | Five Group03328333 · Podgorica | 0.2% | 1,102,011€ | +103.3% | 378,922€ | 34.4% | 6 | 3,214€ |
| 58 | Bild Studio02783061 · Podgorica | 0.2% | 1,100,370€ | +3.0% | 22,652€ | 2.1% | 20 | 3,098€ |
| 59 | Codeus03091627 · Podgorica | 0.2% | 1,090,616€ | +43.0% | 172,632€ | 15.8% | 27 | 2,214€ |
| 60 | Sweetsoft03007979 · Herceg Novi | 0.2% | 1,075,343€ | +33.6% | 4,330€ | 0.4% | 14 | 1,615€ |
| 61 | Msrc.Mne03585034 · Herceg Novi | 0.2% | 1,073,306€ | +13.4% | 744,506€ | 69.4% | 5 | 2,905€ |
| 62 | Infostream02408074 · Podgorica | 0.2% | 1,059,758€ | -11.9% | 194,942€ | 18.4% | 20 | 2,092€ |
| 63 | New Page03030881 · Podgorica | 0.2% | 1,059,715€ | +65.3% | 21,725€ | 2.1% | 7 | 2,519€ |
| 64 | Pos4.Me02955687 · Podgorica | 0.2% | 1,059,315€ | +21.0% | 59,215€ | 5.6% | 11 | 2,898€ |
| 65 | It Security03390063 · Podgorica | 0.2% | 1,045,665€ | -15.9% | 76,740€ | 7.3% | 3 | 2,756€ |
| 66 | Capvidia MN03421651 · Podgorica | 0.2% | 1,020,806€ | +7.0% | 8,509€ | 0.8% | 22 | 3,112€ |
| 67 | G5 Entertainment03421198 · Podgorica | 0.2% | 1,020,743€ | -70.1% | -210,041€ | -20.6% | 29 | 3,265€ |
| 68 | Telegroup03073203 · Podgorica | 0.1% | 953,847€ | +103.3% | 23,363€ | 2.4% | 7 | 2,070€ |
| 69 | Me - Net02683687 · Podgorica | 0.1% | 933,295€ | +0.7% | 646,812€ | 69.3% | 5 | 1,871€ |
| 70 | Ict Integracija03537846 · Podgorica | 0.1% | 883,696€ | +25.3% | 24,356€ | 2.8% | 3 | 2,863€ |
| 71 | Orion Telekom02768674 · Podgorica | 0.1% | 862,198€ | +26.3% | -268,043€ | -31.1% | 10 | 1,802€ |
| 72 | Be Unframed03703444 · Ulcinj | 0.1% | 854,560€ | No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. | 90,448€ | 10.6% | 2 | 1,140€ |
| 73 | Holacode03416879 · Podgorica | 0.1% | 849,175€ | -23.8% | 1,130€ | 0.1% | 8 | 1,440€ |
| 74 | Coordinated Auction Office In South East Europe02890909 · Podgorica | 0.1% | 846,375€ | +13.2% | 45,947€ | 5.4% | 8 | 3,883€ |
| 75 | It Soul03028780 · Podgorica | 0.1% | 819,857€ | -41.2% | 49,135€ | 6.0% | 3 | 1,031€ |
| 76 | B-One03017087 · Podgorica | 0.1% | 809,065€ | -5.5% | 29,720€ | 3.7% | 19 | 1,996€ |
| 77 | Jox Mne03124398 · Podgorica | 0.1% | 808,990€ | +22.5% | 169,137€ | 20.9% | 13 | 1,120€ |
| 78 | Boka - Trans02930102 · Podgorica | 0.1% | 793,662€ | +11.9% | 121,404€ | 15.3% | 26 | 1,339€ |
| 79 | S2B02438925 · Podgorica | 0.1% | 775,088€ | +17.4% | 214,682€ | 27.7% | 18 | 1,753€ |
| 80 | Forsee.Me03059570 · Zeta | 0.1% | 772,902€ | +23.7% | 17,362€ | 2.2% | 1 | 4,347€ |
| 81 | Nova Aura03420922 · Podgorica | 0.1% | 757,283€ | +15.5% | 22,611€ | 3.0% | 24 | 1,576€ |
| 82 | Liraland MNT03593991 · Budva | 0.1% | 747,512€ | +19.4% | 23,328€ | 3.1% | 1 | 677€ |
| 83 | Coremediq02206951 · Podgorica | 0.1% | 735,498€ | +16.0% | 251,305€ | 34.2% | 14 | 1,472€ |
| 84 | Circleblue03333612 · Podgorica | 0.1% | 734,827€ | -8.9% | 88,356€ | 12.0% | 1 | 771€ |
| 85 | Visual Technologies03426459 · Budva | 0.1% | 708,707€ | -39.1% | 37,657€ | 5.3% | 34 | 941€ |
| 86 | Data Design02801566 · Podgorica | 0.1% | 702,847€ | -79.8% | 13,883€ | 2.0% | 32 | 1,073€ |
| 87 | GPS Montenegro03108511 · Podgorica | 0.1% | 688,258€ | +18.0% | 115,428€ | 16.8% | 11 | 1,608€ |
| 88 | BS Telecom Solutions03130827 · Podgorica | 0.1% | 685,208€ | -40.8% | 248,692€ | 36.3% | 4 | 1,196€ |
| 89 | Bujošević02441411 · Podgorica | 0.1% | 679,723€ | +38.9% | 268,859€ | 39.6% | 11 | 1,260€ |
| 90 | Kodio03191451 · Podgorica | 0.1% | 679,234€ | -72.3% | -1,094,652€ | -161.2% | 18 | 3,130€ |
| 91 | Alicorn03122123 · Podgorica | 0.1% | 644,249€ | +7.5% | 41,157€ | 6.4% | 15 | 2,032€ |
| 92 | Softnex03547671 · Podgorica | <0.1% | 608,523€ | +27.6% | 133,521€ | 21.9% | 8 | 3,755€ |
| 93 | Primatech02863782 · Podgorica | <0.1% | 600,635€ | +15.5% | 262,888€ | 43.8% | 6 | 1,216€ |
| 94 | Uhura Solutions03274357 · Podgorica | <0.1% | 595,912€ | +23.9% | 12,261€ | 2.1% | 10 | 2,125€ |
| 95 | Aquiva Labs Montenegro03420787 · Tivat | <0.1% | 593,536€ | -10.8% | 18,915€ | 3.2% | 69 | 575€ |
| 96 | Sitexs It - Solutions02870983 · Podgorica | <0.1% | 582,681€ | +293.1% | 16,989€ | 2.9% | 1 | 7,296€ |
| 97 | Edu Software Informatics03256642 · Podgorica | <0.1% | 581,457€ | -16.6% | -47,605€ | -8.2% | 27 | 1,575€ |
| 98 | Digitalden Hub03401251 · Podgorica | <0.1% | 579,829€ | -8.6% | 48,388€ | 8.3% | 5 | 2,657€ |
| 99 | Tehnovi03338720 · Herceg Novi | <0.1% | 566,584€ | +44.6% | 20,668€ | 3.6% | 15 | 1,930€ |
| 100 | CDM02882957 · Podgorica | <0.1% | 558,832€ | -5.5% | 43,024€ | 7.7% | 16 | 1,956€ |