Osaühing Tulama Grupp

Active Registry code 11194616 OÜ Tallinn Registered 28 Nov 2005

Osaühing Tulama Grupp is a OÜ based in Tallinn, registry code 11194616, status: active. Main activity: Construction of residential and non-residential buildings. According to EMTA, turnover for Q3 2026 was €60 565 with 1 employees.

Turnover

60 565 €

↑ 53.2% vs Q2 2026

State taxes

6 917 €

↑ 199.4% vs Q2 2026

Labour taxes

1 164 €

↑ 646.2% vs Q2 2026

Employees

±0 vs Q2 2026

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

Position in the industry Construction of residential and non-residential buildings · EMTAK 41

Turnover · Q3 2026 60 565 €

above 69% of companies

industry median 25 252 € · companies in the industry: 4 696
Labour taxes per employee 1 164 €

above 46% of companies

industry median 1 211 € · companies in the industry: 4 133
Revenue · 2025 252 510 €

above 81% of companies

industry median 38 239 € · companies in the industry: 6 999
Net profit margin · 2025 8.5 %

above 63% of companies

industry median 3.5 % · companies in the industry: 5 561

Taxes and turnover

Q4 2023 – Q3 2026

Turnover, € thousand Q3 2026: 60 565 € · +53.2% vs Q2 2026 · industry median 25 252 € · above 69% of the industry

Company
Industry median

Industry: Construction of residential and non-residential buildings (the EMTAK division of the main activity). Median: half of the industry is above, half below.

Labour taxes per employee, € Q3 2026: 1 164 € · +646.2% vs Q2 2026 · industry median 1 211 € · above 46% of the industry

Company
Industry median

Industry: Construction of residential and non-residential buildings (the EMTAK division of the main activity). Median: half of the industry is above, half below.

Employees Q3 2026: 1 · +0.0% vs Q2 2026

State taxes, € Q3 2026: 6 917 € · +199.4% vs Q2 2026

Figures by quarter
Quarter	Turnover, €	State taxes, €	Labour taxes, €	Employees
Q3 2026	60 565	6 917	1 164	1
Q2 2026	39 533	2 310	156	1
Q1 2026	13 890	2 810	1 144	—
Q4 2025	132 870	19 818	3 203	1
Q3 2025	70 537	7 681	2 619	2
Q2 2025	24 139	1 641	—	2
Q1 2025	5 130	94	—	—
Q4 2024	54 664	5 636	1 985	—
Q3 2024	54 847	7 138	1 964	—
Q2 2024	27 535	4 836	2 412	—
Q1 2024	68 433	11 608	2 373	—
Q4 2023	54 869	6 209	2 530	—
Q3 2023	69 862	5 599	2 151	2
Q2 2023	34 836	4 223	1 167	1
Q1 2023	35 759	6 368	1 816	—
Q4 2022	69 102	6 873	2 000	—
Q3 2022	48 430	6 157	1 646	—
Q2 2022	27 858	2 558	1 522	—
Q1 2022	16 227	2 045	1 397	—

Labour taxes per employee per month

388 €

Turnover per employee in the quarter

60 565 €

Q3 2026 · calculated from EMTA data

Financials by year

2016 – 2025

Revenue, € thousand 2025: 252 510 € · +37.9% vs 2024 · industry median 38 239 € · above 81% of the industry

Company
Industry median

Industry: Construction of residential and non-residential buildings (the EMTAK division of the main activity). Median: half of the industry is above, half below.

Net profit, € 2025: 21 506 € · +96.6% vs 2024 · industry median 411 € · above 84% of the industry

Company
Industry median

Industry: Construction of residential and non-residential buildings (the EMTAK division of the main activity). Median: half of the industry is above, half below.

Net profit margin, % 2025: 8.5 % · +2.5 pp vs the year before · industry median 3.5 % · above 63% of the industry

Company
Industry median

Industry: Construction of residential and non-residential buildings (the EMTAK division of the main activity). Median: half of the industry is above, half below.

Assets, € thousand 2025: 81 603 € · −2.6% vs 2024

Equity, € thousand 2025: 75 259 € · −10.1% vs 2024

Employees 2025: 1 · +0.0% vs 2024 · industry median 2 · above 5% of the industry

Company
Industry median

Industry: Construction of residential and non-residential buildings (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	252 510	21 506	18 644	81 603	75 259	1
2024	183 069	10 941	14 986	83 753	83 753	1
2023	256 123	23 893	21 663	175 446	166 067	1
2022	188 784	20 377	15 769	183 105	173 374	1
2021	227 608	13 326	10 015	208 020	203 497	2
2020	140 687	22 025	10 953	200 487	199 172	1
2019	181 622	73 133	17 060	182 594	177 147	2
2018	—	—	—	—	—	4
2017	—	—	—	—	—	1
2016	—	—	—	—	—	1
2015	—	—	—	—	—	1
2014	—	—	—	—	—	2
2013	—	—	—	—	—	2
2012	—	—	—	—	—	2
2011	—	—	—	—	—	1
2010	—	—	—	—	—	0
2009	—	—	—	—	—	1
2008	—	—	—	—	—	0
2007	—	—	—	—	—	2

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

8.5 %

Net profit / revenue

Return on equity (ROE)

28.6 %

Net profit / equity

Return on assets (ROA)

26.4 %

Net profit / assets

Equity ratio

92.2 %

Equity / assets

Debt ratio

7.8 %

Liabilities / assets

Current ratio

10.05

Current assets / current liabilities

Revenue per employee

252 510 €

Revenue / average full-time employees

Labour cost per employee per month

1 554 €

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	15 Jun 2026	Company’s own	e-Äriregister
2024	1 Jan 2024 – 31 Dec 2024	16 Jun 2025	Company’s own	e-Äriregister
2023	1 Jan 2023 – 31 Dec 2023	19 Jun 2024	Company’s own	e-Äriregister
2022	1 Jan 2022 – 31 Dec 2022	23 Jun 2023	Company’s own	e-Äriregister
2021	1 Jan 2021 – 31 Dec 2021	30 Jun 2022	Company’s own	e-Äriregister
2020	1 Jan 2020 – 31 Dec 2020	17 Jun 2021	Company’s own	e-Äriregister
2019	1 Jan 2019 – 31 Dec 2019	16 Oct 2020	Company’s own	e-Äriregister

Board

Mihhail Kurtšak
Board member · since 27 Dec 2005

Right of representation

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

Owners

Mihhail Kurtšak
Natural person · 2 556 €

100%

Beneficial owners

Mihhail Kurtšak
Direct ownership · since 1 Nov 2018

Founders and other persons

Aktiva Äriteenuste Osaühing
Founder · 40 000 € · 28 Nov 2005

Activities (EMTAK)

41001Construction of residential and non-residential buildings Main

Rulings 12

All rulings (PDF)

Rulings
Number, date	Title	Deadline	State	Document
Ä 10093782 / M1 3 Feb 2026	Ruling to correct data outside an entry	17 Feb 2026	Deficiencies eliminated 4 Feb 2026	PDF
Ä 10093782 / 11 2 Dec 2024	Amendment entry		In force 2 Dec 2024	PDF
Ä 10093782 / 10 1 Sep 2023	Amendment entry		In force 1 Sep 2023	PDF
Ä 10093782 / 9 22 Nov 2021	Amendment under Commercial Code § 525 (2)		In force 22 Nov 2021	PDF
Ä 10093782 / 8 4 May 2021	Amendment under Commercial Code § 525 (2)		In force 4 May 2021	PDF
Ä 10093782 / 7 17 Jan 2018	Amendment entry		In force 17 Jan 2018	PDF
Ä 10093782 / 6 29 Nov 2017	Amendment entry		In force 29 Nov 2017	PDF
Ä 10093782 / 5 16 Sep 2016	Amendment entry		In force 16 Sep 2016	PDF
Ä 10093782 / 4 23 Jan 2012	Amendment entry		In force 23 Jan 2012	PDF
Ä 93782 / 3 3 Dec 2008	Deletion of activities from the registry card		In force 29 Dec 2008	PDF
Ä 93782 / 2 27 Dec 2005	Amendment entry		In force	PDF
Ä 93782 28 Nov 2005	First entry		In force	PDF

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