Revenue
27.0% of sector revenue
285 companies earned 109.88m€ in 2025, 27.0% of Administrative services sector revenue. Revenue has grown 2.5× since 2015.
27.0% of sector revenue
161 with at most one employee
Largest employer: PM Hotels (186)
Median company 1.4% · 42% profitable
Average per employee, not per company
Revenue in € million (bars) and filing companies (below), 2015–2025
Revenue change vs 2024, companies with at least 1m€ that year
Ranked by total revenue · Showing 201–250 of 285
* 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 →
The activity title is the code's title in the KD 2010 classification (NACE Rev. 2), which applies to every year shown. The registry now shows titles from the new classification for the same codes, so titles can differ.
| Year | Revenue | Companies |
|---|---|---|
| 2015 | 43,568,232€ | 157 |
| 2016 | 46,053,643€ | 159 |
| 2017 | 56,934,748€ | 180 |
| 2018 | 63,092,450€ | 192 |
| 2019 | 75,584,797€ | 210 |
| 2020 | 23,613,785€ | 218 |
| 2021 | 49,101,847€ | 228 |
| 2022 | 69,527,285€ | 266 |
| 2023 | 90,853,878€ | 328 |
| 2024 | 101,325,904€ | 335 |
| 2025 (Preliminary) | 109,880,091€ | 285 |
Employees and payroll cost per employee per month*
0.0% |
| 0€ |
| No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. |
| -4,241€ |
| — |
| 1 |
| 353€ |
| 203 | Adriatic Senses03714209 · Tivat | 0.0% | 0€ | No filing for 2024. | -10,720€ | — | 1 | 788€ |
| 204 | Allcash03326063 · Herceg Novi | 0.0% | 0€ | -100.0% | 0€ | — | — | — |
| 205 | Aln Tourism Agency03678199 · Budva | 0.0% | 0€ | No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. | -9,979€ | — | 1 | 678€ |
| 206 | BY Mustafa Organization03743365 · Budva | 0.0% | 0€ | No filing for 2024. | -9,788€ | — | 2 | — |
| 207 | Dynova03745783 · Tivat | 0.0% | 0€ | No filing for 2024. | -2,245€ | — | 1 | — |
| 208 | Electrodan LTD03535908 · Podgorica | 0.0% | 0€ | No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. | -8,004€ | — | 1 | 678€ |
| 209 | Emels03623157 · Budva | 0.0% | 0€ | No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. | -10,322€ | — | 1 | 678€ |
| 210 | Emir Doruk03752844 · Budva | 0.0% | 0€ | No filing for 2024. | -4,038€ | — | 1 | 337€ |
| 211 | Enjoying Montenegro S&P03748189 · Bar | 0.0% | 0€ | No filing for 2024. | -5,400€ | — | 1 | 450€ |
| 212 | Explore Boka03665585 · Herceg Novi | 0.0% | 0€ | No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. | -2,752€ | — | 1 | — |
| 213 | Strange World Tour03615090 · Podgorica | 0.0% | 0€ | No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. | -12,263€ | — | 1 | 677€ |
| 214 | Goodies03532224 · Budva | 0.0% | 0€ | No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. | -11,140€ | — | 1 | 922€ |
| 215 | Holiday Time03502538 · Budva | 0.0% | 0€ | No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. | -8,875€ | — | 1 | 678€ |
| 216 | Hungo Company02756161 · Tivat | 0.0% | 0€ | -100.0% | -17,856€ | — | 1 | 675€ |
| 217 | Jet Flight Charter03401006 · Budva | 0.0% | 0€ | No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. | -4,071€ | — | 1 | 335€ |
| 218 | KDK Travel03692086 · Podgorica | 0.0% | 0€ | No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. | -12,177€ | — | 1 | 922€ |
| 219 | KNV Group03498972 · Tivat | 0.0% | 0€ | No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. | -8,206€ | — | 1 | 676€ |
| 220 | Liberty International Tourism Montenegro03791157 · Budva | 0.0% | 0€ | No filing for 2024. | -2,426€ | — | 1 | — |
| 221 | Maiden Voyage03474712 · Podgorica | 0.0% | 0€ | No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. | -8,123€ | — | 1 | 677€ |
| 222 | Montenegrina-DMC za Proizvodnju, Promet i Usluge03572293 · Herceg Novi | 0.0% | 0€ | No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. | -4,044€ | — | 1 | — |
| 223 | Montevip Mne03535924 · Budva | 0.0% | 0€ | No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. | -8,100€ | — | 1 | 675€ |
| 224 | Mymonte03797716 · Kolašin | 0.0% | 0€ | No filing for 2024. | -3,950€ | — | 0 | — |
| 225 | Orenda Travel03687236 · Kotor | 0.0% | 0€ | No filing for 2024. | -1,627€ | — | 2 | — |
| 226 | Roztamara03710980 · Podgorica | 0.0% | 0€ | No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. | -8,126€ | — | 1 | 677€ |
| 227 | Seagull Trading Company03709892 · Podgorica | 0.0% | 0€ | No filing for 2024. | -5,544€ | — | 1 | 462€ |
| 228 | Sheyn03414299 · Herceg Novi | 0.0% | 0€ | No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. | -11,589€ | — | 1 | 956€ |
| 229 | Sommelier Art03715531 · Herceg Novi | 0.0% | 0€ | No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. | -7,827€ | — | 1 | 644€ |
| 230 | Summer Dreams03744345 · Herceg Novi | 0.0% | 0€ | No filing for 2024. | -5,283€ | — | 1 | 440€ |
| 231 | Summer Zey03363376 · Budva | 0.0% | 0€ | -100.0% | -11,849€ | — | 1 | 931€ |
| 232 | Terranautika Montenegro02989832 · Tivat | 0.0% | 0€ | No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. | -2,705€ | — | 1 | — |
| 233 | Travelhouse & Co02867320 · Podgorica | 0.0% | 0€ | -100.0% | 0€ | — | 0 | — |
| 234 | Vainervisa03468933 · Podgorica | 0.0% | 0€ | -100.0% | -7,546€ | — | 1 | 678€ |
| 235 | Your Fortune03606074 · Budva | 0.0% | 0€ | No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. | -4,551€ | — | 1 | — |
| 236 | Hold MY Deer03539067 · Herceg Novi | 0.0% | 0€ | No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. | -8,145€ | — | 1 | 678€ |
| 237 | Red Art Travel03777936 · Podgorica | 0.0% | 0€ | No filing for 2024. | -4,218€ | — | 1 | 345€ |
| 238 | Guner Turizam03303209 · Budva | 0.0% | 0€ | No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. | -6,093€ | — | 1 | 508€ |
| 239 | Stay In Budva03139883 · Budva | 0.0% | 0€ | -100.0% | -11,496€ | — | 1 | 924€ |
| 240 | Full Monte Enterprises02633540 · Herceg Novi | 0.0% | 0€ | No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. | 0€ | — | — | — |
| 241 | Korporacija Sportivnog Turizma Montenegro02870487 · Herceg Novi | 0.0% | 0€ | No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. | -8,282€ | — | 1 | 677€ |
| 242 | Dina Dent02337517 · Ulcinj | 0.0% | 0€ | No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. | -8,139€ | — | 1 | 675€ |
| 243 | Gals02452880 · Herceg Novi | 0.0% | 0€ | No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. | -4,059€ | — | 1 | — |
| 244 | Aldebaran Monte03452930 · Herceg Novi | 0.0% | 0€ | No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. | -20,556€ | — | 3 | 568€ |
| 245 | Mediator Int03486834 · Herceg Novi | 0.0% | 0€ | No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. | -7,274€ | — | 1 | 594€ |
| 246 | Ester Group Mne03488632 · Budva | 0.0% | 0€ | No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. | 0€ | — | — | — |
| 247 | Eymen Group Mne03401855 · Budva | 0.0% | 0€ | No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. | -9,916€ | — | 1 | 675€ |
| 248 | Freyja Group Mne03733645 · Budva | 0.0% | 0€ | No filing for 2024. | -6,227€ | — | 1 | 518€ |
| 249 | Goviashov and Co03584968 · Bar | 0.0% | 0€ | No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. | -8,140€ | — | 1 | 675€ |
| 250 | Hewalle Company03771571 · Budva | 0.0% | 0€ | No filing for 2024. | -2,867€ | — | 1 | — |