Every company here files its turnover, profit, headcount and deferred revenue with the Ministry of Finance, every year. We read 80 of those filings, from 2008 to 2025, and lay the numbers side by side.
| Company | Trend | Turnover | YoY | Net margin | Staff | Deferred rev. | ||
|---|---|---|---|---|---|---|---|---|
| 01 | UiPathBucharest · AI & automation platforms | €676 M3.41 bn RON | +3.9% | −4.1% | 1,200 | 27.4% | ||
| 02 | BitdefenderBucharest · Security & trust services | €360 M1.82 bn RON | +8.6% | 12.0% | 1,665 | 57.7% | ||
| 03 | TotalSoft (Charisma)Voluntari · ERP & business software | €43.7 M220 M RON | +21.8% | 9.1% | 527 | 9.5% | ||
| 04 | AROBS Transilvania SoftwareCluj-Napoca · Industry software | €36.1 M182 M RON | −22.5% | 11.5% | 473 | 2.8% | ||
| 05 | certSIGNBucharest · Security & trust services | €23.3 M117 M RON | +6.1% | 13.3% | 289 | 33.6% | ||
| 06 | SmartBillSibiu · Invoicing & accounting | €17.8 M89.6 M RON | +20.0% | 50.1% | 69 | 32.2% | ||
| 07 | FintechOSBucharest · AI & automation platforms | €17.8 M89.5 M RON | −9.2% | −19.8% | 148 | 13.7% | ||
| 08 | Avangate (2Checkout / Verifone)Bucharest · E-commerce platforms | €15.2 M76.5 M RON | −13.3% | 13.1% | 237 | – | ||
| 09 | Netopia PaymentsBucharest · Fintech & payments | €15.1 M76.0 M RON | +11.6% | 16.4% | 44 | – | ||
| 10 | Senior SoftwareBucharest · ERP & business software | €13.8 M69.4 M RON | +14.4% | 10.1% | 198 | 13.1% | ||
| 11 | Saga SoftwareBucharest · Invoicing & accounting | €12.2 M61.5 M RON | +30.6% | 62.1% | 26 | – | ||
| 12 | CoSoSys (Endpoint Protector)Cluj-Napoca · Security & trust services | €11.7 M59.1 M RON | −20.8% | 2.1% | 94 | 23.6% |
| Company | 3-yr CAGR | Turnover | ||
|---|---|---|---|---|
| 01 | FinqwareCluj-Napoca · Fintech & payments | +103.9% | €1.2 M5.9 M RON | |
| 02 | OblioConstanța · Invoicing & accounting | +97.7% | €2.1 M10.5 M RON | |
| 03 | Veridion (ex Soleadify)Ploiești · Business data & compliance | +78.7% | €2.8 M13.9 M RON | |
| 04 | AscendiaBucharest · Education | +70.0% | €8.8 M44.6 M RON | |
| 05 | DigitailIași · Health & care | +67.4% | €2.4 M12.2 M RON | |
| 06 | PluriaRoșiori de Vede · HR, payroll & workplace | +63.2% | €599 k3.0 M RON | |
| 07 | InnoshipRâmnicu Vâlcea · Logistics software | +57.4% | €2.8 M14.3 M RON | |
| 08 | KeezBucharest · Invoicing & accounting | +54.8% | €6.0 M30.2 M RON |
Compound annual growth of turnover, 2022–2025.
| Company | Net margin | Turnover | ||
|---|---|---|---|---|
| 01 | MingleBacău · HR, payroll & workplace | 78.1% | €279 k1.4 M RON | |
| 02 | CozmoslabsTimișoara · Developer & web tools | 65.9% | €460 k2.3 M RON | |
| 03 | Saga SoftwareBucharest · Invoicing & accounting | 62.1% | €12.2 M61.5 M RON | |
| 04 | DigitailIași · Health & care | 56.0% | €2.4 M12.2 M RON | |
| 05 | AscendiaBucharest · Education | 52.7% | €8.8 M44.6 M RON | |
| 06 | SmartBillSibiu · Invoicing & accounting | 50.1% | €17.8 M89.6 M RON | |
| 07 | OblioConstanța · Invoicing & accounting | 41.5% | €2.1 M10.5 M RON | |
| 08 | DigiSignBucharest · Security & trust services | 40.4% | €6.7 M33.6 M RON |
Net result as a share of turnover, FY 2025.
A Romanian balance sheet has a line for venituri înregistrate în avans: money already invoiced for a service not yet delivered. For a software company that is prepaid subscriptions. Services firms bill after the work and show almost nothing there; a subscription business carries a fat slice of next year's revenue on the balance sheet every December.
For instance Freya reported 24.7 M RON of deferred revenue against 15.1 M RON of turnover in 2025, 164%. We call a ratio above 20% a strong fingerprint, 8% to 20% some, and below that little. It is a heuristic, not a verdict: grants and customer advances land on the same line. The caveats.
| Company | Deferred rev. | Turnover | ||
|---|---|---|---|---|
| 01 | FreyaBucharest · Hospitality & retail POS | 163.7% | €3.0 M15.1 M RON | |
| 02 | Nexus ERPIași · ERP & business software | 117.8% | €2.3 M11.6 M RON | |
| 03 | Life Is Hard (24broker)Florești · Industry software | 87.0% | €5.3 M26.9 M RON | |
| 04 | Termene.roPloiești · Business data & compliance | 62.6% | €4.5 M22.9 M RON | |
| 05 | BitdefenderBucharest · Security & trust services | 57.7% | €360 M1.82 bn RON | |
| 06 | DeepstashBucharest · AI & automation platforms | 55.6% | €1.6 M7.8 M RON |
curl https://apifirme.dev/rest/v1/companies/18990059/financials \ -H "Authorization: Bearer af_live_…"
apifirme serves the trade register, every annual statement since 2008 and the exchange rates for all 3.9 million Romanian companies, as REST and as an MCP server for AI agents. Free key, three lines of curl.