BALTI EKSPRESSREISIDE Osaühing

Active Registry code 10173061 OÜ Tallinn Registered 3 Feb 1997

BALTI EKSPRESSREISIDE Osaühing is a OÜ based in Tallinn, registry code 10173061, status: active. Main activity: Tour operator activities. According to EMTA, turnover for Q3 2026 was €154 908 with 3 employees.

Turnover

154 908 €

↑ 657.5% vs Q2 2026

State taxes

5 018 €

↑ 69.0% vs Q2 2026

Labour taxes

3 242 €

↓ 2.1% vs Q2 2026

Employees

−1 vs Q2 2026

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

Position in the industry Travel agency, tour operator and other reservation service and related activities · EMTAK 79

Turnover · Q3 2026 154 908 €

above 81% of companies

industry median 27 306 € · companies in the industry: 383
Labour taxes per employee 1 081 €

above 31% of companies

industry median 1 423 € · companies in the industry: 297
Revenue · 2025 595 586 €

above 87% of companies

industry median 27 722 € · companies in the industry: 819
Net profit margin · 2025 2.4 %

above 37% of companies

industry median 5.5 % · companies in the industry: 644

Taxes and turnover

Q4 2023 – Q3 2026

Turnover, € thousand Q3 2026: 154 908 € · +657.5% vs Q2 2026 · industry median 27 306 € · above 81% of the industry

Company
Industry median

Industry: Travel agency, tour operator and other reservation service and related activities (the EMTAK division of the main activity). Median: half of the industry is above, half below.

Labour taxes per employee, € Q3 2026: 1 081 € · +30.5% vs Q2 2026 · industry median 1 423 € · above 31% of the industry

Company
Industry median

Industry: Travel agency, tour operator and other reservation service and related activities (the EMTAK division of the main activity). Median: half of the industry is above, half below.

Employees Q3 2026: 3 · −25.0% vs Q2 2026

State taxes, € Q3 2026: 5 018 € · +69.0% vs Q2 2026

Figures by quarter
Quarter	Turnover, €	State taxes, €	Labour taxes, €	Employees
Q3 2026	154 908	5 018	3 242	3
Q2 2026	20 450	2 970	3 312	4
Q1 2026	1 301	3 271	3 569	4
Q4 2025	52 492	4 597	4 035	4
Q3 2025	246 425	6 003	4 084	4
Q2 2025	63 937	4 229	4 084	4
Q1 2025	367	5 080	5 221	4
Q4 2024	35 277	4 099	3 762	4
Q3 2024	185 858	4 896	3 961	4
Q2 2024	54 239	4 885	3 851	4
Q1 2024	15 570	3 460	3 574	4
Q4 2023	25 082	3 747	3 800	4
Q3 2023	155 069	6 778	4 827	4
Q2 2023	46 049	4 562	3 398	4
Q1 2023	7 931	2 991	3 015	4
Q4 2022	20 392	3 025	2 893	5
Q3 2022	107 321	3 595	2 896	5
Q2 2022	31 147	3 098	2 744	5
Q1 2022	112	3 045	3 004	5

Labour taxes per employee per month

360 €

Turnover per employee in the quarter

51 636 €

Q3 2026 · calculated from EMTA data

Financials by year

2016 – 2025

Revenue, € thousand 2025: 595 586 € · +39.5% vs 2024 · industry median 27 722 € · above 87% of the industry

Company
Industry median

Industry: Travel agency, tour operator and other reservation service and related activities (the EMTAK division of the main activity). Median: half of the industry is above, half below.

Net profit, € 2025: 14 109 € · +96.6% vs 2024 · industry median 1 194 € · above 80% of the industry

Company
Industry median

Industry: Travel agency, tour operator and other reservation service and related activities (the EMTAK division of the main activity). Median: half of the industry is above, half below.

Net profit margin, % 2025: 2.4 % · +0.7 pp vs the year before · industry median 5.5 % · above 37% of the industry

Company
Industry median

Industry: Travel agency, tour operator and other reservation service and related activities (the EMTAK division of the main activity). Median: half of the industry is above, half below.

Assets, € thousand 2025: 449 842 € · +2.7% vs 2024

Equity, € thousand 2025: 444 519 € · +3.3% vs 2024

Employees 2025: 2 · +0.0% vs 2024 · industry median 1 · above 60% of the industry

Company
Industry median

Industry: Travel agency, tour operator and other reservation service and related 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	595 586	14 109	38 132	449 842	444 519	2
2024	426 836	7 177	37 343	437 822	430 409	2
2023	435 764	3 826	37 590	428 788	423 232	2
2022	245 187	-9 443	29 451	426 637	419 406	2
2021	67 765	-31 153	25 201	434 468	428 849	3
2020	46 459	-67 456	27 337	464 034	460 002	3
2019	812 219	-5 943	44 389	543 813	527 458	3
2018	—	—	—	—	—	3
2017	—	—	—	—	—	3
2016	—	—	—	—	—	3
2015	—	—	—	—	—	3
2014	—	—	—	—	—	3
2013	—	—	—	—	—	3
2012	—	—	—	—	—	3
2011	—	—	—	—	—	3
2010	—	—	—	—	—	3
2009	—	—	—	—	—	2
2008	—	—	—	—	—	4
2007	—	—	—	—	—	5
2006	—	—	—	—	—	5
2005	—	—	—	—	—	5
2003	—	—	—	—	—	4

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

2.4 %

Net profit / revenue

Return on equity (ROE)

3.2 %

Net profit / equity

Return on assets (ROA)

3.1 %

Net profit / assets

Equity ratio

98.8 %

Equity / assets

Debt ratio

1.2 %

Liabilities / assets

Current ratio

72.99

Current assets / current liabilities

Revenue per employee

297 793 €

Revenue / average full-time employees

Labour cost per employee per month

1 589 €

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	10 Jun 2026	Company’s own	e-Äriregister
2024	1 Jan 2024 – 31 Dec 2024	10 Jul 2025	Company’s own	e-Äriregister
2023	1 Jan 2023 – 31 Dec 2023	18 Jun 2024	Company’s own	e-Äriregister
2022	1 Jan 2022 – 31 Dec 2022	8 Jun 2023	Company’s own	e-Äriregister
2021	1 Jan 2021 – 31 Dec 2021	13 May 2022	Company’s own	e-Äriregister
2020	1 Jan 2020 – 31 Dec 2020	28 Jun 2021	Company’s own	e-Äriregister
2019	1 Jan 2019 – 31 Dec 2019	30 Jun 2020	Company’s own	e-Äriregister

Board

Margus Keerutaja
Board member · since 1 Sep 2026

Right of representation

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

Owners

Valdis Kärmas
Natural person · 45 000 €

100%

Beneficial owners

Merle Keerutaja
Direct ownership · since 28 Oct 2026

Founders and other persons

No other persons.

shared board members, owners or beneficial owners

Activities (EMTAK)

79121Tour operator activities Main

Rulings 10

All rulings (PDF)

Rulings
Number, date	Title	Deadline	State	Document
Ä 10009188 / 11 1 Sep 2026	Entry to enforce another court decision		In force 1 Sep 2026	PDF
Ä 10009188 / 10 22 Aug 2026	Amendment entry		In force 22 Aug 2026	PDF
Ä 10009188 / M2 10 Jul 2025	Warning of a fine: annual report not filed	9 Aug 2025	Deficiencies eliminated 11 Jul 2025	PDF
Ä 10009188 / 9 1 Sep 2023	Amendment entry		In force 1 Sep 2023	PDF
Ä 10009188 / 8 16 Jan 2018	Amendment entry		In force 16 Jan 2018	PDF
Ä 10009188 / 7 7 Nov 2017	Amendment entry		In force 7 Nov 2017	PDF
Ä 10009188 / 6 14 Sep 2016	Amendment entry		In force 14 Sep 2016	PDF
Ä 10009188 / 5 29 Mar 2012	Amendment entry		In force 29 Mar 2012	PDF
Ä 9188 / 4 3 Dec 2008	Deletion of activities from the registry card		In force 3 Dec 2008	PDF
Ä 9188 / M1 19 Sep 2006	Fine for not filing the report		Deficiencies eliminated 26 Sep 2006	PDF

Sources: e-Äriregister and EMTA. Data updated 1 Nov 2026. Open at the source ↗ · Report an error in the data

BALTI EKSPRESSREISIDE Osaühing

Position in the industry Travel agency, tour operator and other reservation service and related activities · EMTAK 79

Taxes and turnover

Financials by year

Financial ratios for 2025

Annual reports

Board

Right of representation

Owners

Beneficial owners

Founders and other persons

Related companies

Activities (EMTAK)

Rulings 10