Boreal Software AB

Active

559102-4471 · Aktiebolag · Stockholm · SNI 62010 Dataprogrammering

Understand the company's finances without needing a finance background.

Datapoints analysed

370

7 signals · 2 require investigation

Company data·20 Aug 2026Financials·1 Jan 2025Industry·1 Jan 2025

Generate DD questions

What is worth asking the company?

The same questions as in Analysis mode, grouped by what they are about.

Questions about profitability

What is left of each krona sold, and why.

  1. HIGH priority

    What does the financial income consist of, and is it recurring?

    Why ask this? Financial income corresponded to 34.9% of profit after financial items in 2025.

    Ask for Specification of financial income by source

  2. MEDIUM priority

    Which customers or product groups drove the revenue increase, and what gross margin did they carry compared with the existing portfolio?

    Why ask this? Revenue grew +11.1% in 2025 while the operating margin fell from 6.6% to 4.7% (-1.9 percentage points).

    Ask for Gross margin by customer and product group, last three financial years

  3. MEDIUM priority

    What pledges, company mortgages, guarantees and other contingent liabilities exist?

    Why ask this? Pledged assets and guarantees: Notes are not always machine-readable in the digital filing.

    Ask for Register of pledges and guarantees

Questions about growth and customers

Where sales come from and whether they hold.

  1. HIGH priority

    What share of revenue do the five largest customers represent for each of the last three years?

    Why ask this? Customer concentration: Revenue split by customer is not disclosed in Swedish annual reports for SMEs.

    Ask for Revenue by customer, last three financial years

  2. HIGH priority

    Which customers have been lost or materially reduced during the last three years, and why?

    Why ask this? Customer churn: No public source reports customer retention.

    Ask for Customer list with annual revenue per customer

  3. HIGH priority

    What share of revenue is recurring or contracted, and over what remaining term?

    Why ask this? Recurring revenue share: Revenue is reported as a single line item.

    Ask for Contract register with terms and renewal dates

  4. HIGH priority

    Do the largest customer contracts contain change-of-control, exclusivity or termination clauses?

    Why ask this? Customer contract terms: Contracts, notice periods and change-of-control clauses are not publicly available.

    Ask for Copies of the ten largest customer contracts

  5. MEDIUM priority

    What is the current order book and how does it compare with the same point last year?

    Why ask this? Current order book: Order intake is not part of statutory reporting.

    Ask for Order book report as of the latest month

Questions about financial strength

How much of the company is financed by its owners.

  1. HIGH priority

    What is the capitalisation policy for development expenditure, and what would EBIT have been if all development cost had been expensed?

    Why ask this? Capitalised development expenditure corresponded to 45.3% of adjusted equity in 2025.

    Ask for Capitalisation policy and project-level development expenditure listing

  2. HIGH priority

    What are the current interest-bearing liabilities, terms and amortisation schedules?

    Why ask this? Current debt balance: Only the closing balance of the latest annual report is available.

    Ask for Loan agreements and latest bank statements

  3. MEDIUM priority

    What assumptions support the carrying value of intangible assets, and when was the last impairment test performed?

    Why ask this? Intangible assets corresponded to 45.3% of adjusted equity in 2025.

    Ask for Impairment test documentation and a specification of intangible assets

Questions about cash and payments

Whether the company can pay what falls due.

  1. MEDIUM priority

    What is the cash and unused facility position as of the latest month end?

    Why ask this? Current cash position: Cash is reported at the balance sheet date only.

    Ask for Bank statements and credit facility agreements

Questions about stability and dependencies

How dependent the result is on single factors.

  1. HIGH priority

    Which customer relationships and operational responsibilities depend personally on the owner?

    Why ask this? Owner dependency: Operational dependency on the owner cannot be assessed from public data.

    Ask for Description of the owner's operational role and transition plan

  2. MEDIUM priority

    Who are the key employees, what are their terms, and what is the staff turnover?

    Why ask this? Employee retention and key persons: Only average headcount is reported.

    Ask for Employee list with role, start date, salary and notice period

Questions about missing information

What the public filings do not answer.

  1. MEDIUM priority

    Which suppliers are critical, and what are the terms and alternatives?

    Why ask this? Supplier concentration: Purchasing is not disclosed by counterparty.

    Ask for Purchasing by supplier, last two years

  2. MEDIUM priority

    Are there ongoing or threatened disputes, claims or regulatory matters?

    Why ask this? Ongoing disputes: Court records are not covered by the free sources used in this analysis.

    Ask for Written confirmation and documentation of any disputes