Osaühing Advokaadibüroo Sirje Must

Active Registry code 10134581 OÜ Tartu linn Registered 6 Oct 1996

Osaühing Advokaadibüroo Sirje Must is a OÜ based in Tartu linn, registry code 10134581, status: active. Main activity: Activities of attorneys and law offices. According to EMTA, turnover for Q3 2026 was €53 800 with 8 employees.

Turnover

53 800 €

↓ 43.0% vs Q2 2026

State taxes

28 602 €

↓ 37.7% vs Q2 2026

Labour taxes

19 219 €

↓ 29.4% vs Q2 2026

Employees

+1 vs Q2 2026

Q3 2026 · data from the Tax and Customs Board (EMTA)

Position in the industry Legal and accounting activities · EMTAK 69

Turnover · Q3 2026 53 800 €

above 89% of companies

industry median 9 740 € · companies in the industry: 3 327
Labour taxes per employee 2 402 €

above 81% of companies

industry median 1 122 € · companies in the industry: 3 120
Revenue · 2025 362 929 €

above 98% of companies

industry median 12 784 € · companies in the industry: 8 416
Net profit margin · 2025 3.4 %

above 31% of companies

industry median 14.8 % · companies in the industry: 6 880

Taxes and turnover

Q4 2023 – Q3 2026

Turnover, € thousand Q3 2026: 53 800 € · −43.0% vs Q2 2026 · industry median 9 740 € · above 89% of the industry

Company
Industry median

Industry: Legal and accounting activities (the EMTAK division of the main activity). Median: half of the industry is above, half below.

Labour taxes per employee, € Q3 2026: 2 402 € · −38.2% vs Q2 2026 · industry median 1 122 € · above 81% of the industry

Company
Industry median

Industry: Legal and accounting activities (the EMTAK division of the main activity). Median: half of the industry is above, half below.

Employees Q3 2026: 8 · +14.3% vs Q2 2026

State taxes, € Q3 2026: 28 602 € · −37.7% vs Q2 2026

Figures by quarter
Quarter	Turnover, €	State taxes, €	Labour taxes, €	Employees
Q3 2026	53 800	28 602	19 219	8
Q2 2026	94 394	45 899	27 209	7
Q1 2026	96 684	44 831	28 570	8
Q4 2025	88 876	44 198	25 560	8
Q3 2025	93 348	49 364	32 677	8
Q2 2025	95 177	43 071	24 960	8
Q1 2025	81 617	42 492	27 315	9
Q4 2024	100 165	47 248	28 674	8
Q3 2024	54 529	24 595	14 913	7
Q2 2024	45 025	20 183	11 966	6
Q1 2024	52 636	23 577	14 040	5
Q4 2023	46 375	19 658	11 851	5
Q3 2023	41 347	17 223	12 657	5
Q2 2023	46 695	22 458	14 758	5
Q1 2023	94 061	47 029	34 716	5
Q4 2022	84 588	31 438	18 249	8
Q3 2022	57 513	30 688	22 619	8
Q2 2022	72 271	26 232	14 506	8
Q1 2022	57 291	26 553	17 019	8

Labour taxes per employee per month

801 €

Turnover per employee in the quarter

6 725 €

Q3 2026 · calculated from EMTA data

Financials by year

2016 – 2025

Revenue, € thousand 2025: 362 929 € · +38.0% vs 2024 · industry median 12 784 € · above 98% of the industry

Company
Industry median

Industry: Legal and accounting activities (the EMTAK division of the main activity). Median: half of the industry is above, half below.

Net profit, € 2025: 12 170 € · −10.8% vs 2024 · industry median 1 062 € · above 83% of the industry

Company
Industry median

Industry: Legal and accounting activities (the EMTAK division of the main activity). Median: half of the industry is above, half below.

Net profit margin, % 2025: 3.4 % · −1.8 pp vs the year before · industry median 14.8 % · above 31% of the industry

Company
Industry median

Industry: Legal and accounting activities (the EMTAK division of the main activity). Median: half of the industry is above, half below.

Assets, € thousand 2025: 73 142 € · +7.0% vs 2024

Equity, € 2025: 19 663 € · −13.4% vs 2024

Employees 2025: 6 · +20.0% vs 2024 · industry median 1 · above 98% of the industry

Company
Industry median

Industry: Legal and accounting activities (the EMTAK division of the main activity). Median: half of the industry is above, half below.

Financials by year
Year	Revenue, €	Net profit, €	Labour costs, €	Assets, €	Equity, €	Employees
2025	362 929	12 170	258 183	73 142	19 663	6
2024	262 909	13 651	190 497	68 378	22 698	5
2023	196 389	-16 899	141 532	47 976	23 979	5
2022	289 180	22 257	201 504	122 211	68 761	6
2021	269 179	22 971	167 249	105 163	70 225	6
2020	300 914	36 540	175 541	112 650	74 375	7
2019	229 547	23 439	113 796	97 861	63 800	7
2018	—	—	—	—	—	7
2017	—	—	—	—	—	8
2016	—	—	—	—	—	9
2015	—	—	—	—	—	9
2014	—	—	—	—	—	10
2013	—	—	—	—	—	10
2012	—	—	—	—	—	6
2011	—	—	—	—	—	5
2010	—	—	—	—	—	5
2009	—	—	—	—	—	6
2008	—	—	—	—	—	7
2007	—	—	—	—	—	7
2006	—	—	—	—	—	7
2005	—	—	—	—	—	8
2004	—	—	—	—	—	8
2003	—	—	—	—	—	8
2002	—	—	—	—	—	8
2001	—	—	—	—	—	8
2000	—	—	—	—	—	7
1999	—	—	—	—	—	7
1998	—	—	—	—	—	6
1997	—	—	—	—	—	5

Figures from the company’s own (non-consolidated) balance sheet and income statement. A loss is shown with a minus sign.

Financial ratios for 2025

Net profit margin

3.4 %

Net profit / revenue

Return on equity (ROE)

61.9 %

Net profit / equity

Return on assets (ROA)

16.6 %

Net profit / assets

Equity ratio

26.9 %

Equity / assets

Debt ratio

73.1 %

Liabilities / assets

Current ratio

1.32

Current assets / current liabilities

Revenue per employee

60 488 €

Revenue / average full-time employees

Labour cost per employee per month

3 586 €

Labour costs / employees / 12 months (incl. employer taxes)

Annual reports

PDFs from e-Äriregister

Annual reports
Year	Period	Filed	Report	Documents
2025	1 Jan 2025 – 31 Dec 2025	1 Jun 2026	Company’s own	e-Äriregister
2024	1 Jan 2024 – 31 Dec 2024	31 May 2025	Company’s own	e-Äriregister
2023	1 Jan 2023 – 31 Dec 2023	14 Jun 2024	Company’s own	e-Äriregister
2022	1 Jan 2022 – 31 Dec 2022	15 Jun 2023	Company’s own	e-Äriregister
2021	1 Jan 2021 – 31 Dec 2021	29 Jun 2022	Company’s own	e-Äriregister
2020	1 Jan 2020 – 31 Dec 2020	11 May 2021	Company’s own	e-Äriregister
2019	1 Jan 2019 – 31 Dec 2019	20 Jul 2020	Company’s own	e-Äriregister

Board

Marina Kelpman
Board member · since 15 Apr 2025
Sirje Must
Board member · since 15 Apr 2025

Right of representation

Any member of the management board may represent the private limited company in all transactions.

Owners

Marina Kelpman
Natural person · 3 758 €

97.99%
Sirje Must
Natural person · 77 €

2.01%

Beneficial owners

Marina Kelpman
Direct ownership · since 21 Jan 2026

Founders and other persons

No other persons.

Activities (EMTAK)

69101Activities of attorneys and law offices Main

Rulings 10

All rulings (PDF)

Rulings
Number, date	Title	Deadline	State	Document
Ä 20002019 / M2 17 Apr 2026	Ruling to eliminate deficiencies	2 May 2026	Deficiencies eliminated 17 Apr 2026	PDF
Ä 20002019 / 10 17 Apr 2026	Amendment entry		In force 17 Apr 2026	PDF
Ä 20002019 / 9 15 Apr 2025	Amendment entry		In force 15 Apr 2025	PDF
Ä 20002019 / 8 10 Apr 2025	Amendment entry		In force 10 Apr 2025	PDF
Ä 20002019 / 7 1 Sep 2023	Amendment entry		In force 1 Sep 2023	PDF
Ä 20002019 / 6 21 Feb 2018	Amendment entry		In force 21 Feb 2018	PDF
Ä 20002019 / 5 18 Jan 2018	Amendment entry		In force 18 Jan 2018	PDF
Ä 20002019 / 4 21 Jun 2012	Amendment entry		In force 21 Jun 2012	PDF
Ä 20002019 / M1 20 Jun 2012	Ruling to eliminate deficiencies	20 Jul 2012	In force 20 Jun 2012	PDF
Ä 20002019 / 3 29 Jun 2010	Deletion of activities from the registry card		In force 29 Jun 2010	PDF

Sources: e-Äriregister and EMTA. Data updated 2 Nov 2026. Open at the source ↗ · Report an error in the data