Everything here is public data, read carefully. This page says exactly what each number is, where it comes from and where it misleads.
We index Romanian legal entities whose income comes mainly from software they own: subscriptions, licences, hosted platforms, APIs. A hand-kept list, not a CAEN query, because the activity code says little: the market leader in online invoicing files under "custom software development". We add listed software groups and the Romanian subsidiaries of foreign-founded companies when they are a large part of the local market, and we flag them. Pure services firms, agencies and outsourcers are left out. Suggestions: ingest@saas-analytics.com.
Each brand is matched by hand to one company in the trade register, by name, seat and activity. A brand may run through several entities; we take the operating company and say so in a note. Where the match is not certain the company page carries a confidence flag.
Deferred revenue divided by turnover. A company that invoices a year in advance and recognises the income month by month carries a large balance here at 31 December; a services firm that invoices after the work carries almost none. We call a ratio of 20% or more a strong fingerprint, 8% to 20% some, below that little. The ratio does not prove a subscription model: grants received in advance, customer prepayments in construction or events, and multi-year licence deals land on the same line, and companies filing the short balance sheet form may not report it at all. Treat it as a strong hint.
Lei are converted at the National Bank of Romania's average reference rate of each financial year, the correct rate for a flow such as turnover. For 2025 the official annual average was not yet in our source, so we use the mean of twelve mid-month rates (5.0424). Growth rates are computed in lei.
Year-on-year growth compares turnover with the previous filed year. The three-year compound rate requires a filing three years earlier with at least 500,000 lei of turnover, so tiny bases do not produce absurd rates. Margin and fingerprint rankings only include companies above one million lei of turnover; turnover per head requires at least 10 employees. Rankings only include companies whose FY 2025 statement is published; the rest show their last filed year on their own pages.
Annual financial statements: Ministerul Finanțelor, published as open data on data.gov.ro (the 2008–2023 sets under CC BY 4.0). Register records: Oficiul Național al Registrului Comerțului and ANAF. Exchange rates: Banca Națională a României. All of it retrieved through apifirme, which keeps the provenance of every value. The pages and the JSON here may be reused with attribution to saas-analytics.com and the Ministry of Finance.
The index is rebuilt when the Ministry publishes a new year of statements, usually in June or July, and when companies are added. Each page states its build date. Companies that find an error in their entry may write to ingest@saas-analytics.com; we correct the entity match or the note, never the filed figures.