Data
The dataset: BSE revenue and recessions, 2006–2021
An open, citable dataset: revenue growth of 13 public BSE companies over 2006–2021, compiled by Selurio from their annual financial statements. Download CSV/JSON, read the codebook, and cite freely.
How it was built
The figures are annual revenue growth (%), calculated from the companies' published annual financial statements and assembled into Selurio's own panel.
The revenue index (base 2006 = 100) is reconstructed from the growth rates and checked against the real levels for Mak and Lavena — the drift is under 3 index points (integer-% rounding). Sector medians match the independently verified panel behind the Company cycle profile calculator.
The full study covers 14 firms. Sopharma is excluded from the revenue panel because in the source its “revenue” column is actually net operating cash flow, not turnover — hence 13 firms with usable revenue here.
The panel
Revenue growth (%) by firm and year. Red = decline, green = growth, “·” = no data (base year or before listing).
| Company | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Manufacturing | ||||||||||||||||
| Mak AD | · | +17% | −21% | +21% | −48% | +54% | −22% | +4% | +18% | +10% | +68% | +11% | −36% | +54% | +36% | +28% |
| Lavena AD | · | +6% | +43% | −1% | +56% | +36% | +45% | 0% | +21% | +25% | +6% | +30% | −14% | +17% | +8% | −5% |
| Bulgarska Roza AD | · | +7% | −4% | −37% | +37% | +7% | +20% | +4% | +3% | −19% | +14% | −4% | +2% | −9% | −48% | +32% |
| Alcomet AD | · | +15% | −10% | −28% | +40% | +19% | −5% | +10% | +5% | +11% | −5% | +14% | +2% | −4% | −1% | +50% |
| Monbat AD | · | +83% | +26% | −30% | +63% | −5% | −4% | +32% | +1% | +18% | +17% | +3% | +2% | +1% | −18% | +23% |
| Hydraulic Elements & Systems AD | · | +15% | −7% | −59% | +61% | +36% | −10% | +10% | +6% | +1% | +8% | +19% | +13% | 0% | −12% | +34% |
| M+S Hydraulic AD | · | +30% | +8% | −54% | +65% | +46% | −13% | +7% | +5% | −4% | +8% | +18% | +12% | −12% | 0% | +39% |
| Pharma & medical | ||||||||||||||||
| Momina Krepost AD | · | · | −8% | −10% | −11% | −2% | −5% | +11% | −26% | +7% | +8% | −39% | −14% | 0% | +23% | +46% |
| Medica AD | · | +10% | +17% | −14% | −2% | +41% | +8% | −2% | −6% | −4% | +6% | · | · | · | · | · |
| Etropal AD | · | · | +5% | −7% | −13% | −5% | −28% | +5% | +8% | −15% | −13% | +12% | +13% | −18% | +14% | −6% |
| Tourism | ||||||||||||||||
| Sofia Hotel Balkan AD | · | +8% | +5% | −12% | −4% | +4% | +9% | +1% | +1% | −1% | +4% | +3% | +2% | −11% | −64% | +36% |
| Zlatni Pyasatsi AD | · | +42% | −3% | −63% | −2% | −12% | −19% | +2% | +40% | −28% | +21% | −8% | −8% | −11% | −28% | +112% |
| Albena AD | · | +6% | +1% | +3% | −21% | +3% | +1% | +1% | −3% | −4% | +18% | +14% | −1% | +9% | −65% | +54% |
The aggregate findings (phase shifts in recession, sector medians, the two crises) are visualised on the market hub.
Codebook
| Field | Type | Description |
|---|---|---|
| firm_key | string | Stable firm identifier (slug). |
| firm_bg / firm_en | string | Company name in Bulgarian / Latin. |
| sector | enum | manufacturing · pharma (pharma & medical) · tourism. |
| year | integer | Calendar year (2006–2021). |
| revenue_growth_pct | number | Revenue growth versus the previous year, in % (integer, as in the source). |
| revenue_index_base2006 | number | Reconstructed revenue index (base year = 100) from the growth rates; within 3 points of the real levels for Mak/Lavena. |
How to cite
The dataset is licensed CC BY 4.0 — use it freely with attribution.
Selurio (2026). BSE panel: revenue and recessions, 2006–2021 [dataset, 13 firms]. Licensed CC BY 4.0.