Bolaro Score
80/ 100
Strong profile
Revenue
SEK 42.3m
Growth
18.4%
Operating margin
13.7%
Equity ratio
44.8%
Summary
Above-average financial profile
What looks solid
- operating margin in the 89th peer percentile
- Revenue growth in the 97th peer percentile
- Positive operating profit in 5 consecutive years
What deserves a closer look
- Cash position has declined 4 consecutive years
- Accounts receivable growing faster than revenue
- Inventory growing faster than revenue
What we cannot assess yet
- Current debt balance
- Current cash position
- Pledged assets and guarantees
7 of 17 questions are marked as high priority for a closer look.
How is the company doing?
Size, direction, earning power and financial resilience.
Does the company make good money on its sales?
13.7%
For every SEK 100 the company sells, roughly SEK 14 is left from day-to-day operations, before interest and tax. This is called the operating margin, or EBIT margin.
How financially resilient is the company?
44.8%
Roughly SEK 45 of every SEK 100 of assets is financed by equity, the rest by debt.
Financial year 2025 · 374 datapoints from official filings
How does Bolaro rate the company?
A deterministic score from 0 to 100, built from six areas.
- Financial PerformanceStrong
- Financial StrengthStrong
- GrowthStrong
- Cash & LiquidityNormal
- StabilityStrong
- Quality / RiskStrong
The Bolaro Score summarises the company's financial profile across six areas. It is not a probability, not a percentile and not a recommendation to buy, sell or invest.
How Bolaro Score worksHow does it compare?
Comparable companies are chosen by industry, size and financial year — never by how well they perform.
Bolaro does not yet have enough comparable companies for a reliable comparison.
What deserves attention
Observations from the rules engine, in plain language.
Cash position has declined 4 consecutive years
What happened?
Cash and bank balances fell from SEK 4.6m (2021) to SEK 3.1m (2025).
Why is it worth noticing?
A multi-year cash decline alongside reported profits usually means earnings are being consumed by working capital, investments, dividends or amortisation of debt.
A good question to ask
”What has consumed the operating cash flow over the last three years, and what is the current cash and credit facility position?”
Accounts receivable growing faster than revenue
What happened?
Accounts receivable increased +41.2% while revenue increased +18.4% in 2025.
Why is it worth noticing?
Receivables increasing materially faster than revenue may indicate changed payment terms, a shifted customer mix or weaker collection quality. It also ties up cash that is not visible in the profit and loss account.
A good question to ask
”What explains the increase in accounts receivable, and what proportion of balances older than 90 days has been collected after year-end?”
Inventory growing faster than revenue
What happened?
Inventory increased +28.3% while revenue increased +18.4% in 2025.
Why is it worth noticing?
Inventory build-up ahead of sales can indicate slow-moving goods, obsolescence risk or a deliberate stock strategy. It consumes cash regardless of the reason.
A good question to ask
”How is the inventory composed by age, and what write-down policy has been applied over the last three years?”
What looks solid
operating margin in the 89th peer percentile
Sustained profitability above the peer group usually reflects pricing power, product mix or cost efficiency.
Revenue growth in the 97th peer percentile
Growth clearly above the peer group indicates share gains or exposure to a stronger segment.
Positive operating profit in 5 consecutive years
Consistent profitability through varying market conditions reduces earnings risk.
What do we still not know?
Information the public filings do not answer.
- Customers
Customer concentration
Revenue split by customer is not disclosed in Swedish annual reports for SMEs.
- Customers
Customer churn
No public source reports customer retention.
- Commercial
Recurring revenue share
Revenue is reported as a single line item.
- Commercial
Current order book
Order intake is not part of statutory reporting.
- Commercial
Customer contract terms
Contracts, notice periods and change-of-control clauses are not publicly available.
How reliable is this?
100% data coverage
Data coverage shows how much of the information Bolaro needs for the analysis is available. It is not a measure of the probability that the analysis is correct.
- Source
- Official annual report
- Benchmark
- Bolaro does not yet have enough comparable companies for a reliable comparison.
- Missing
- Current debt balance
- Current cash position
- Pledged assets and guarantees