Devcore AB
ABActiveOrg 5565831640Sveavägen 59, 113 59 StockholmComputer programming activities· NACE 6210Est. 2000 · 26 years old58 employees
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Overview
Devcore AB is a Swedish AB based in Stockholm, operating in the Computer programming activities sector. Incorporated in 2000, the company has 58 employees and reported revenue of SEK 95.4m in its latest annual filing.
Revenue 2025
95.4M SEK
+7% vs 2024
EBITDA margin
26.0 %
−5% vs 2024
Net profit 2025
19M SEK
+15% vs 2024
Key ratios
See full ratios →Solidity ratioEquity ÷ Total assets × 100
40.8 %
WeakAmong the 30% lowest rated companies in the industry
20212025
Liquidity ratioCurrent assets ÷ Short-term debt
5.4×
StrongAmong the 40% highest rated companies in the industry
20212025
Return on assets (ROA)Net profit ÷ Total assets × 100
20.9 %
StrongAmong the 30% highest rated companies in the industry
20212025
EBITDA — year on year
SEK millionsKey figures
Annual report 2025| Revenue | 95.4M SEK | +7% |
| EBITDA | 24.8M SEK | -5% |
| Net profit | 19M SEK | +15% |
| Total assets | 90.5M SEK | +5% |
| Equity | 36.9M SEK | -3% |
| Employees | 58 | — |
Company information
Legal name
DEVCORE AB
Org number
5565831640
Legal form
Aktiebolag
NACE code
Founded
11 January 2000 · 26 years
Share capital
SEK 196,998
Employees
58 (FTE)
VAT registered
Yes
Audit selected
No
Last report
2025-12-31
Financial year
January – December
Signatory rights
Firman tecknas av styrelsen
Company purpose
Bolaget skall vara verksam i databranschen och därvid tillhandahålla tjänster avseende datakonsultverkamhet inom områdena för applikations- och programutveckling, kommunikations- och nätverksteknik samt tillämpningar och teknik för internet ävensom idka därmed förelig verksamhet.
(no translation available)
Contact
Address
Sveavägen 59, 113 59 Stockholm
Email
info@devcore.se
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Financial development
In its most recent annual report (2025), Devcore AB reported revenue of SEK 95.4m, an increase of 7% on the year before. The figures on this page draw on 5 annual filings covering 2021 to 2025. The bottom line showed a net profit of SEK 19.0m, and the EBITDA margin stood at 26%.
At the end of 2025, equity financed 40.8% of the balance sheet, and current assets covered short-term debt 5.4 times.
Financials
Revenue
SEK millionsEBITDA
SEK millionsIncome statement
SEK thousands| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Revenue | 95,376 | 89,387 | 80,306 | 75,551 | 66,716 |
| Staff expenses | -50,355 | -44,359 | -39,912 | -38,869 | — |
| EBITDA | 24,788 | 25,982 | 23,915 | 19,701 | 17,817 |
| Depreciation & amort. | -104 | -104 | -91 | -123 | -160 |
| EBIT | 24,684 | 25,878 | 23,824 | 19,578 | 17,657 |
| Net financials | 3,022 | 2,315 | 1,542 | -1,511 | 644 |
| Profit before tax | 23,946 | 20,993 | 20,966 | 15,566 | 17,001 |
| Tax | -4,988 | -4,488 | -4,462 | -3,739 | -3,623 |
| Net profit | 18,958 | 16,505 | 16,505 | 11,827 | 13,378 |
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Balance sheet
SEK thousands| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Total assets | 90,498 | 86,405 | 74,785 | 62,362 | 54,255 |
| Equity | 36,944 | 37,986 | 33,480 | 24,976 | 20,367 |
| Long-term debt | — | — | — | — | 0 |
| Short-term debt | 15,594 | 14,219 | 14,304 | 14,786 | 13,788 |
| Total debt | 15,594 | 14,219 | 14,304 | 14,786 | 13,788 |
Financial ratios
5-year trendEBITDA margin
26.0 %
20212025
Equity ratio
40.8 %
WeakAmong the 30% lowest rated companies in the industry
20212025
Return on equity
51.3 %
StrongAmong the 30% highest rated companies in the industry
20212025
Net profit margin
19.9 %
StrongAmong the 40% highest rated companies in the industry
20212025
Asset turnover
1.05×
StrongAmong the 40% highest rated companies in the industry
20212025
Debt / equity
1.45×
AverageAround the average of companies in the same industry
20212025
Sector performance
25 of 28 ratios graded28 financial ratios from the latest filing, each graded against companies in the same industry.
Profitability
Gross marginVery weak
Among the 20% lowest rated companies in the industry
The gross result as a share of revenue — how much of the revenue is left after variable costs to cover the company's fixed costs.
Operating marginStrong
Among the 40% highest rated companies in the industry
EBIT as a share of revenue — the share of revenue remaining as earnings once all operating costs are covered. A key measure of earning power.
Net profit marginStrong
Among the 40% highest rated companies in the industry
The profit for the year as a share of revenue — the company's ability to turn revenue into profit.
Return on equity (ROE)Strong
Among the 30% highest rated companies in the industry
Net profit as a percentage of equity — the return the owners earned on their invested capital this year.
Return on assets (ROA)Strong
Among the 30% highest rated companies in the industry
Net profit as a percentage of total assets — the return generated on the capital employed.
Return on net assets (RONA)Strong
Among the 40% highest rated companies in the industry
Profit relative to net assets (total assets minus total debt) — the ability to generate earnings from the net asset base alone.
Basic earning power (BEP)Strong
Among the 30% highest rated companies in the industry
EBIT relative to total assets — the company's earning power before the effects of tax and financial leverage.
Capacity ratioStrong
Among the 40% highest rated companies in the industry
Shows how strongly fixed costs weigh on the gross result — a high ratio means fixed costs take only a small bite out of the earnings from basic operations.
Liquidity
Current ratioStrong
Among the 40% highest rated companies in the industry
Current assets relative to short-term debt — the ability to settle short-term obligations with current assets alone. Around 150% is considered satisfactory from a credit perspective.
Cash ratioStrong
Among the 30% highest rated companies in the industry
Cash relative to short-term debt — the ability to repay short-term obligations with cash alone.
Current assets to equityVery weak
Among the 20% lowest rated companies in the industry
Current assets relative to equity — an indicator of the balance-sheet structure and of the company's short- and long-term financing. The healthy level is highly industry-dependent.
Cash conversion ratioStrong
Among the 30% highest rated companies in the industry
Cash flow relative to profit — the ability to convert reported profits into accessible cash.
Quick ratioNot rated
Cannot be graded — the figures this ratio builds on are not available in the latest filing.
Current assets excluding inventory relative to short-term debt — whether the most liquid assets alone can cover the short-term obligations. A value of 1 or above signals a healthy liquidity position.
Fixed assets to long-term capitalNot rated
Cannot be graded — the figures this ratio builds on are not available in the latest filing.
Fixed assets relative to long-term capital (equity plus long-term liabilities). Below 100% means the long-term capital finances more than just the fixed assets — a healthier liquidity position.
Debt & solvency
Solidity ratioWeak
Among the 30% lowest rated companies in the industry
Equity as a share of total assets — the ability to absorb losses. Around 40% is considered satisfactory from a credit perspective.
Debt ratioStrong
Among the 40% highest rated companies in the industry
Total debt relative to the balance-sheet total — the share of the assets financed by debt rather than equity.
Debt to equityAverage
Around the average of companies in the same industry
Debt relative to equity — the company's leverage. A higher value means heavier reliance on debt financing.
Liabilities to equityWeak
Among the 30% lowest rated companies in the industry
Total liabilities relative to equity — whether the company operates primarily on borrowed capital or on its own.
Income to debtStrong
Among the 30% highest rated companies in the industry
Profit relative to debt — the ability to create earnings while operating with debt.
EBITDA to debtStrong
Among the 30% highest rated companies in the industry
EBITDA relative to debt — how much operating earnings are available to service the debt.
Interest coverageStrong
Among the 40% highest rated companies in the industry
The ability to pay the interest on the company's debt out of its earnings.
Interest rate on debtAverage
Around the average of companies in the same industry
Financial expenses relative to total liabilities — the effective interest rate the company pays on its debt.
Interest marginStrong
Among the 30% highest rated companies in the industry
The return on assets minus the interest rate on debt. Positive means the company benefits from operating with debt; negative means the debt makes it worse off.
Efficiency & development
Asset turnoverStrong
Among the 40% highest rated companies in the industry
Revenue relative to total assets — the ability to generate revenue from the asset base.
Equity to contributed capitalVery strong
Among the 10% highest rated companies in the industry
Total equity relative to the capital the owners contributed — how the equity has developed from its starting point.
One-year change in equityWeak
Among the 40% lowest rated companies in the industry
The size of this year's increase or decrease in the company's equity.
One-year change in debtWeak
Among the 40% lowest rated companies in the industry
The size of this year's increase or decrease in the company's debt.
Inventory turnoverNot rated
Cannot be graded — the figures this ratio builds on are not available in the latest filing.
Revenue relative to inventory — how many times a year the inventory is sold and replaced. A low value can indicate weak sales or excess inventory.
Annual reports & filings
- Annual report 2025Filed via Bolagsverket / SCB · Period 2025-01-01 – 2025-12-31
- Annual report 2024Filed via Bolagsverket / SCB · Period 2024-01-01 – 2024-12-31
- Annual report 2023Filed via Bolagsverket / SCB · Period 2023-01-01 – 2023-12-31
- Annual report 2022Filed via Bolagsverket / SCB · Period 2022-01-01 – 2022-12-31
- Annual report 2021Filed via Bolagsverket / SCB · Period 2021-01-01 – 2021-12-31
People & ownership
Management
Actively employed in the business| Name | Role | Member since |
|---|---|---|
| Current (2) | ||
DB Chief Executive Officer | Chief Executive Officer | 2022 |
EG Audit | Audit | 2022 |
Board of directors
Non-executive oversight| Name | Role | Member since |
|---|---|---|
| Current (2) | ||
DB Board of Directors | Board of Directors | 2022 |
PJ Deputy Board Member | Deputy Board Member | 2022 |
Shareholders
Active legal owners| Shareholder | Type | Ownership | Votes | Registered |
|---|---|---|---|---|
| Company | 54% | 54% | 2023 |
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Related companies
Company hierarchy
Dagobert AB
Devcore AB Board network connections
Board members of Devcore AB also hold positions in 288 other companies.
| Person | Role here | Other companies |
|---|---|---|
| Erik Gunnar Ågerup | Audit | 280 companiesMany roles |
| David Bernad Goldman | Chief Executive Officer | 5 companies |
| Peter Jarl Höst | Deputy Board Member | 3 companies |
Frequently asked questions
What is the Org number of Devcore AB?
Devcore AB is registered with Bolagsverket / SCB under Org 5565831640.
What is the revenue of Devcore AB?
Devcore AB reported revenue of SEK 95.4m in 2025.
How many employees does Devcore AB have?
Devcore AB employs 58 people as of the latest annual report.
Who is the CEO of Devcore AB?
David Bernad Goldman is the CEO of Devcore AB, in role since 2022.
Where is Devcore AB headquartered?
Devcore AB's registered address is Sveavägen 59.