Revenue
37.18m€6.1× since 2015
0.2% of Montenegro's revenue
Public & nonprofit
176 companies earned 37.18m€ in 2025, 0.2% of all company revenue in Montenegro. It ranks 18 of 18 sectors by revenue. Revenue has grown 6.1× since 2015.
Nationwide · 2025
Year
Overview
Companies
176+145 since 2015
134 with at most one employee
Employees
3382.4× since 2015
Largest employer: Institut za Ljekove i Medicinska Sredstva (70)
Profit margin
5.2%0.9 pts below average
Total profit: 1.93m€
This sector 5.2%Montenegro: 6.1%
Payroll cost/emp./mo*
1,897€53% above average
Average per employee, not per company
This sector 1,897€Montenegro: 1,242€
Revenue and companies since 2015
FinalPreliminary
Revenue in € million (bars) and filing companies (below), 2015–2025
| Year | Revenue | Companies |
|---|---|---|
| 2015 | 6,059,866€ | 31 |
| 2016 | 6,328,872€ | 33 |
| 2017 | 5,685,953€ | 32 |
| 2018 | 5,593,346€ | 34 |
| 2019 | 6,203,501€ | 36 |
| 2020 | 6,412,956€ | 40 |
| 2021 | 6,784,760€ | 42 |
| 2022 | 9,058,739€ | 48 |
| 2023 | 11,682,479€ | 62 |
| 2024 | 19,320,424€ | 70 |
| 2025 (Preliminary) | 37,183,079€ | 176 |
The number of companies jumped most in 2023: from 48 to 62.
What changed in 2025
Growth is measured on the same companies, which filed for both years.
- Revenue, same companies (61)
- 19.23m€ → 33.44m€
- Employees, same companies
- 228 → 228
- Payroll cost per employee, same companies
- 2,179€ → 2,055€
- Filed for 2025, not for 2024
- 115 companies · 3.74m€
- Filed for 2024, not for 2025
- 9 companies, 90,967€ in 2024
Activities in this sector
- Companies
- 1
- Employees
- 23
- Revenue
- 17,960,995€
- Companies
- 157
- Employees
- 145
- Revenue
- 8,182,175€
- Companies
- 2
- Employees
- 83
- Revenue
- 4,596,478€
- Companies
- 4
- Employees
- 17
- Revenue
- 3,458,395€
- Companies
- 2
- Employees
- 45
- Revenue
- 1,651,709€
- Companies
- 8
- Employees
- 13
- Revenue
- 955,278€
8423
- Companies
- 0
- Employees
- 12
- Revenue
- 257,934€
9491
- Companies
- 1
- Employees
- 0
- Revenue
- 118,244€
9420
- Companies
- 1
- Employees
- 0
- Revenue
- 1,871€
Total
- Companies
- 176
- Employees
- 338
- Revenue
- 37,183,079€
Where they are and who is growing
Revenue by municipality
Share of the sector's revenue
- Podgorica 8.43m€22.7%
- Berane 358,971€1.0%
- Nikšić 232,381€0.6%
- Bar 208,914€0.6%
- Bijelo Polje 162,315€0.4%
- Tivat 148,581€0.4%
- Kotor 137,200€0.4%
- Other municipalities (9) 436,246€1.2%
- No municipality in the registry 27.06m€72.8%
Fastest growing
Revenue change vs 2024, companies with at least 1m€ that year
- Fond za Zaštitu Životne Sredine4.54m€ → 17.96m€+295.7%
- +27.2%
- +6.9%
Largest employers
Employees and payroll cost per employee per month*
- 702,179€
- 442,084€
- 231,629€
- 231,047€
- 132,160€
All companies (176)
Ranked by total revenue · Showing 1–50 of 176
- 1Fond za Zaštitu Životne Sredine03304094Revenue share48.3%
- Revenue
- 17,960,995€
- Revenue change 2024→2025
- +295.7%
- Profit
- 433,597€
- Margin
- 2.4%
- Employees
- 23
- Payroll cost/emp./mo*
- 1,629€
- Revenue share10.8%
- Revenue
- 4,006,457€
- Revenue change 2024→2025
- -23.7%
- Profit
- 1,398,771€
- Margin
- 34.9%
- Employees
- 70
- Payroll cost/emp./mo*
- 2,179€
- 3Udruženje Grada Luštica Zaliv11014291Revenue share8.7%
- Revenue
- 3,230,794€
- Revenue change 2024→2025
- +54.3%
- Profit
- -991€
- Margin
- -0.0%
- Employees
- 0
- Payroll cost/emp./mo*
- —
- 4Nvo Organizacija za Zaštitu Prava Autora Muzike Crne Gore - Pam CG Podgorica02453614 · PodgoricaRevenue share8.0%
- Revenue
- 2,987,872€
- Revenue change 2024→2025
- +27.2%
- Profit
- 0€
- Margin
- 0.0%
- Employees
- 10
- Payroll cost/emp./mo*
- 2,173€
- 5Regulatorna Agencija za Energetiku i Regulisane Komunalne Djelatnosti02396491 · PodgoricaRevenue share4.4%
- Revenue
- 1,650,710€
- Revenue change 2024→2025
- +6.9%
- Profit
- 108,101€
- Margin
- 6.5%
- Employees
- 44
- Payroll cost/emp./mo*
- 2,084€
- 6Akreditaciono Tijelo Crne Gore - Podgorica02687810 · PodgoricaRevenue share1.6%
- Revenue
- 590,021€
- Revenue change 2024→2025
- +13.1%
- Profit
- 13,654€
- Margin
- 2.3%
- Employees
- 13
- Payroll cost/emp./mo*
- 2,160€
- 7Fond za Aktivno Građanstvo Fakt02697149 · PodgoricaRevenue share1.4%
- Revenue
- 515,359€
- Revenue change 2024→2025
- No filing for 2024.
- Profit
- 0€
- Margin
- 0.0%
- Employees
- 6
- Payroll cost/emp./mo*
- 1,746€
- 8Inženjerska Komora Crne Gore02346524 · PodgoricaRevenue share1.2%
- Revenue
- 453,835€
- Revenue change 2024→2025
- -35.4%
- Profit
- -12,537€
- Margin
- -2.8%
- Employees
- 6
- Payroll cost/emp./mo*
- 4,113€
- 9Ljekarska Komora Crne Gore02251248 · PodgoricaRevenue share1.0%
- Revenue
- 358,927€
- Revenue change 2024→2025
- +64.2%
- Profit
- 85,759€
- Margin
- 23.9%
- Employees
- 4
- Payroll cost/emp./mo*
- 3,961€
- 10Savez Izviđača Crne Gore02026465 · PodgoricaRevenue share0.9%
- Revenue
- 317,953€
- Revenue change 2024→2025
- No filing for 2024.
- Profit
- 0€
- Margin
- 0.0%
- Employees
- 2
- Payroll cost/emp./mo*
- 3,762€
- 11Lokalni Javni Emiter Radio Berane02876868 · BeraneRevenue share0.8%
- Revenue
- 294,680€
- Revenue change 2024→2025
- +18.8%
- Profit
- -18,713€
- Margin
- -6.4%
- Employees
- 23
- Payroll cost/emp./mo*
- 1,047€
- 12Sigurna Ženska Kuća02291622 · PodgoricaRevenue share0.7%
- Revenue
- 266,300€
- Revenue change 2024→2025
- No filing for 2024.
- Profit
- 0€
- Margin
- 0.0%
- Employees
- 5
- Payroll cost/emp./mo*
- 3,269€
- 13Američka Privredna Komora u Crnoj Gori02733803 · PodgoricaRevenue share0.7%
- Revenue
- 263,724€
- Revenue change 2024→2025
- +6.4%
- Profit
- 0€
- Margin
- 0.0%
- Employees
- 5
- Payroll cost/emp./mo*
- 2,638€
- 14Dostignuća Mladih u Crnoj Gori11071660Revenue share0.6%
- Revenue
- 209,073€
- Revenue change 2024→2025
- No filing for 2024.
- Profit
- 0€
- Margin
- 0.0%
- Employees
- 3
- Payroll cost/emp./mo*
- 1,236€
- 15Stomatološka Komora Crne Gore - Podgorica03132595 · PodgoricaRevenue share0.6%
- Revenue
- 206,733€
- Revenue change 2024→2025
- +21.4%
- Profit
- -49,915€
- Margin
- -24.1%
- Employees
- 2
- Payroll cost/emp./mo*
- 3,378€
- 16Novi Poredak11000045Revenue share0.4%
- Revenue
- 163,161€
- Revenue change 2024→2025
- No filing for 2024.
- Profit
- 0€
- Margin
- 0.0%
- Employees
- 1
- Payroll cost/emp./mo*
- 7,264€
- Revenue share0.4%
- Revenue
- 142,541€
- Revenue change 2024→2025
- No filing for 2024.
- Profit
- 0€
- Margin
- 0.0%
- Employees
- 4
- Payroll cost/emp./mo*
- 2,541€
- 18Delić Koji Nedostaje11091377 · TivatRevenue share0.4%
- Revenue
- 136,457€
- Revenue change 2024→2025
- -10.8%
- Profit
- -7,253€
- Margin
- -5.3%
- Employees
- 0
- Payroll cost/emp./mo*
- —
- 19Farmaceutska Komora Crne Gore - Podgorica02330687 · PodgoricaRevenue share0.4%
- Revenue
- 135,694€
- Revenue change 2024→2025
- No filing for 2024.
- Profit
- 0€
- Margin
- 0.0%
- Employees
- 1
- Payroll cost/emp./mo*
- 7,159€
- 20Đakomo Adriatic03009815 · Bijelo PoljeRevenue share0.4%
- Revenue
- 132,720€
- Revenue change 2024→2025
- -5.2%
- Profit
- 0€
- Margin
- 0.0%
- Employees
- 1
- Payroll cost/emp./mo*
- 8,291€
- 21Revenue share0.4%
- Revenue
- 131,436€
- Revenue change 2024→2025
- +27.9%
- Profit
- 0€
- Margin
- 0.0%
- Employees
- 2
- Payroll cost/emp./mo*
- 1,358€
- 22Volonteri Crne Gore-Volunteers of Montenegro11023053 · NikšićRevenue share0.3%
- Revenue
- 122,182€
- Revenue change 2024→2025
- No filing for 2024.
- Profit
- 0€
- Margin
- 0.0%
- Employees
- 3
- Payroll cost/emp./mo*
- 864€
- 23Nevladina Fondacija Budi Human11017606Revenue share0.3%
- Revenue
- 121,424€
- Revenue change 2024→2025
- No filing for 2024.
- Profit
- -11,258€
- Margin
- -9.3%
- Employees
- 4
- Payroll cost/emp./mo*
- 1,430€
- 24Wat Montenegro03010155Revenue share0.3%
- Revenue
- 119,891€
- Revenue change 2024→2025
- No filing for 2024.
- Profit
- 0€
- Margin
- 0.0%
- Employees
- 1
- Payroll cost/emp./mo*
- 1,452€
- 25Nacionalna Erasmus+kancelarija03020541Revenue share0.3%
- Revenue
- 118,244€
- Revenue change 2024→2025
- -5.7%
- Profit
- 15,521€
- Margin
- 13.1%
- Employees
- 0
- Payroll cost/emp./mo*
- —
- 26Revenue share0.2%
- Revenue
- 92,450€
- Revenue change 2024→2025
- No filing for 2024.
- Profit
- 0€
- Margin
- 0.0%
- Employees
- 3
- Payroll cost/emp./mo*
- 1,673€
- 27Danski Dom11107141 · KotorRevenue share0.2%
- Revenue
- 90,843€
- Revenue change 2024→2025
- No filing for 2024.
- Profit
- 0€
- Margin
- 0.0%
- Employees
- 6
- Payroll cost/emp./mo*
- 810€
- 28Institut za Socio-Ekonomske Analize (isea)02988631 · PodgoricaRevenue share0.2%
- Revenue
- 87,246€
- Revenue change 2024→2025
- -1.9%
- Profit
- 16,227€
- Margin
- 18.6%
- Employees
- 1
- Payroll cost/emp./mo*
- 5,149€
- 29Puževa Kućica02921260 · BudvaRevenue share0.2%
- Revenue
- 77,462€
- Revenue change 2024→2025
- -6.4%
- Profit
- 56€
- Margin
- 0.1%
- Employees
- 1
- Payroll cost/emp./mo*
- 5,048€
- 30Veterinarska Komora Crne Gore02694484 · PodgoricaRevenue share0.2%
- Revenue
- 73,954€
- Revenue change 2024→2025
- -15.0%
- Profit
- 0€
- Margin
- 0.0%
- Employees
- 1
- Payroll cost/emp./mo*
- 1,194€
- 31Udruženje Hendikepiranih- Srce02443732 · MojkovacRevenue share0.2%
- Revenue
- 70,705€
- Revenue change 2024→2025
- No filing for 2024.
- Profit
- -12,943€
- Margin
- -18.3%
- Employees
- 5
- Payroll cost/emp./mo*
- 1,315€
- 32Hajdari Familija11077552 · UlcinjRevenue share0.2%
- Revenue
- 69,084€
- Revenue change 2024→2025
- +98.0%
- Profit
- 8,867€
- Margin
- 12.8%
- Employees
- 0
- Payroll cost/emp./mo*
- —
- 33Futura11006736Revenue share0.2%
- Revenue
- 69,027€
- Revenue change 2024→2025
- No filing for 2024.
- Profit
- -14,768€
- Margin
- -21.4%
- Employees
- 4
- Payroll cost/emp./mo*
- 1,692€
- 34Orijent02936119 · BarRevenue share0.2%
- Revenue
- 68,597€
- Revenue change 2024→2025
- No filing for 2024.
- Profit
- -712€
- Margin
- -1.0%
- Employees
- 0
- Payroll cost/emp./mo*
- —
- Revenue share0.2%
- Revenue
- 68,273€
- Revenue change 2024→2025
- No filing for 2024.
- Profit
- 10,396€
- Margin
- 15.2%
- Employees
- 1
- Payroll cost/emp./mo*
- 2,586€
- 36Nvo Rubikon11077617 · BeraneRevenue share0.2%
- Revenue
- 64,291€
- Revenue change 2024→2025
- +147.7%
- Profit
- 26,133€
- Margin
- 40.6%
- Employees
- 0
- Payroll cost/emp./mo*
- —
- 37Nevladino Udruženje/Nevladina Organizacija Kornjača/Rožaje11087345 · RožajeRevenue share0.2%
- Revenue
- 61,784€
- Revenue change 2024→2025
- No filing for 2024.
- Profit
- -1,180€
- Margin
- -1.9%
- Employees
- 5
- Payroll cost/emp./mo*
- 1,048€
- 38Čovjekoljublje02384469 · PodgoricaRevenue share0.2%
- Revenue
- 57,099€
- Revenue change 2024→2025
- -5.7%
- Profit
- 0€
- Margin
- 0.0%
- Employees
- 1
- Payroll cost/emp./mo*
- 341€
- 39Medicinski Edukativni Krug11071201 · PodgoricaRevenue share0.2%
- Revenue
- 56,525€
- Revenue change 2024→2025
- +37.5%
- Profit
- 1,749€
- Margin
- 3.1%
- Employees
- 0
- Payroll cost/emp./mo*
- —
- 40Klaster Centar za Razvoj Turizma11026664 · BarRevenue share0.2%
- Revenue
- 56,343€
- Revenue change 2024→2025
- No filing for 2024.
- Profit
- 5,812€
- Margin
- 10.3%
- Employees
- 0
- Payroll cost/emp./mo*
- —
- 41Udruženje Medicinskih Sestara i Tehničara Crne Gore02249588 · PodgoricaRevenue share0.1%
- Revenue
- 46,630€
- Revenue change 2024→2025
- No filing for 2024.
- Profit
- 0€
- Margin
- 0.0%
- Employees
- 0
- Payroll cost/emp./mo*
- —
- 42Freedom and Entrepreneurship11012256Revenue share0.1%
- Revenue
- 45,500€
- Revenue change 2024→2025
- +126.4%
- Profit
- 3,921€
- Margin
- 8.6%
- Employees
- 1
- Payroll cost/emp./mo*
- 1,577€
- 43Komora Fizioterapeuta Crne Gore - Podgorica03143465 · PodgoricaRevenue share0.1%
- Revenue
- 44,893€
- Revenue change 2024→2025
- -16.2%
- Profit
- 0€
- Margin
- 0.0%
- Employees
- 2
- Payroll cost/emp./mo*
- 1,125€
- 44Nvu Kreni Promijeni11089887Revenue share0.1%
- Revenue
- 43,700€
- Revenue change 2024→2025
- No filing for 2024.
- Profit
- 17,696€
- Margin
- 40.5%
- Employees
- 1
- Payroll cost/emp./mo*
- 1,847€
- 45Udruženje Spičana - Nehaj11048293 · BarRevenue share0.1%
- Revenue
- 42,710€
- Revenue change 2024→2025
- No filing for 2024.
- Profit
- -512€
- Margin
- -1.2%
- Employees
- 1
- Payroll cost/emp./mo*
- 541€
- 46Civilni Centar CG02906007 · BudvaRevenue share0.1%
- Revenue
- 41,368€
- Revenue change 2024→2025
- No filing for 2024.
- Profit
- -1,480€
- Margin
- -3.6%
- Employees
- 1
- Payroll cost/emp./mo*
- 341€
- 47Poljoprivredni Klaster Crne Gore11079865 · NikšićRevenue share0.1%
- Revenue
- 38,418€
- Revenue change 2024→2025
- No filing for 2024.
- Profit
- -3,264€
- Margin
- -8.5%
- Employees
- 1
- Payroll cost/emp./mo*
- 1,937€
- 48Revenue share0.1%
- Revenue
- 38,318€
- Revenue change 2024→2025
- No filing for 2024.
- Profit
- 0€
- Margin
- 0.0%
- Employees
- 1
- Payroll cost/emp./mo*
- 1,972€
- 49Vanja11037437Revenue share<0.1%
- Revenue
- 37,089€
- Revenue change 2024→2025
- -0.3%
- Profit
- 0€
- Margin
- 0.0%
- Employees
- 0
- Payroll cost/emp./mo*
- —
- 50Kotor02021706 · KotorRevenue share<0.1%
- Revenue
- 35,859€
- Revenue change 2024→2025
- +28.6%
- Profit
- 8,193€
- Margin
- 22.8%
- Employees
- 2
- Payroll cost/emp./mo*
- 780€
* 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 2 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