Baltic Restaurants Estonia AS

Active Registry code 11391363 AS Tallinn Registered 31 May 2007

Baltic Restaurants Estonia AS is a AS based in Tallinn, registry code 11391363, status: active. Main activity: Activities of restaurants and cafes. According to EMTA, turnover for Q3 2026 was €5 834 170 with 703 employees.

Turnover

5 834 170 €

↓ 46.3% vs Q2 2026

State taxes

1 728 836 €

↓ 33.1% vs Q2 2026

Labour taxes

1 246 766 €

↓ 2.4% vs Q2 2026

Employees

703

+136 vs Q2 2026

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

Position in the industry Food and beverage service activities · EMTAK 56

Turnover · Q3 2026 5.8 mn €

above 98% of companies

industry median 48 370 € · companies in the industry: 2 475
Labour taxes per employee 1 773 €

above 77% of companies

industry median 1 201 € · companies in the industry: 2 187
Revenue · 2025 38.6 mn €

above 98% of companies

industry median 47 451 € · companies in the industry: 3 568
Net profit margin · 2025 8.1 %

above 74% of companies

industry median 1.1 % · companies in the industry: 2 875

Taxes and turnover

Q4 2023 – Q3 2026

Turnover, € thousand Q3 2026: 5 834 170 € · −46.3% vs Q2 2026 · industry median 48 370 € · above 98% of the industry

Company
Industry median

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

Labour taxes per employee, € Q3 2026: 1 773 € · −21.3% vs Q2 2026 · industry median 1 201 € · above 77% of the industry

Company
Industry median

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

Employees Q3 2026: 703 · +24.0% vs Q2 2026

State taxes, € thousand Q3 2026: 1 728 836 € · −33.1% vs Q2 2026

Figures by quarter
Quarter	Turnover, €	State taxes, €	Labour taxes, €	Employees
Q3 2026	5 834 170	1 728 836	1 246 766	703
Q2 2026	10 856 355	2 583 015	1 276 991	567
Q1 2026	10 064 419	2 676 622	1 416 391	740
Q4 2025	11 981 654	2 385 492	1 346 208	717
Q3 2025	7 123 774	1 590 857	1 344 377	737
Q2 2025	12 033 770	2 152 048	1 287 034	606
Q1 2025	10 074 636	3 424 235	1 339 842	749
Q4 2024	12 430 653	2 054 302	1 163 324	714
Q3 2024	6 912 199	1 504 916	1 166 890	722
Q2 2024	11 170 026	2 133 308	1 170 686	541
Q1 2024	10 035 819	1 854 127	1 147 986	716
Q4 2023	11 283 064	1 985 459	1 014 697	533
Q3 2023	6 274 473	1 186 714	971 505	695
Q2 2023	9 166 377	1 647 497	893 838	454
Q1 2023	7 689 161	1 502 602	921 043	624
Q4 2022	8 098 441	1 553 318	822 168	465
Q3 2022	4 002 677	1 081 344	819 797	595
Q2 2022	6 620 743	1 320 893	738 021	396
Q1 2022	5 064 431	1 179 008	743 236	595

Labour taxes per employee per month

591 €

Turnover per employee in the quarter

8 299 €

Q3 2026 · calculated from EMTA data

Financials by year

2016 – 2025

Revenue, € thousand 2025: 38 556 000 € · +1.6% vs 2024 · industry median 47 451 € · above 98% of the industry

Company
Industry median

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

Net profit, € thousand 2025: 3 110 000 € · −28.7% vs 2024 · industry median 68 € · above 98% of the industry

Company
Industry median

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

Net profit margin, % 2025: 8.1 % · −3.4 pp vs the year before · industry median 1.1 % · above 74% of the industry

Company
Industry median

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

Assets, € thousand 2025: 10 507 000 € · −4.8% vs 2024

Equity, € thousand 2025: 6 264 000 € · +47.5% vs 2024

Employees 2025: 673 · +3.9% vs 2024 · industry median 3 · above 98% of the industry

Company
Industry median

Industry: Food and beverage service 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	38 556 000	3 110 000	14 432 000	10 507 000	6 264 000	673
2024	37 955 000	4 359 000	13 058 000	11 041 000	4 246 000	648
2023	32 934 000	4 328 000	11 030 000	8 603 000	5 387 000	571
2022	22 724 000	459 000	8 897 000	4 411 000	1 559 000	524
2021	15 465 000	-16 000	6 829 000	3 687 000	1 101 000	402
2020	12 644 000	-192 000	6 286 000	2 938 000	1 117 000	353
2019	16 511 000	575 000	6 746 000	3 721 000	1 309 000	432
2018	—	—	—	—	—	433
2017	—	—	—	—	—	404
2016	—	—	—	—	—	409
2015	—	—	—	—	—	427
2014	—	—	—	—	—	393
2013	—	—	—	—	—	370
2012	—	—	—	—	—	354
2011	—	—	—	—	—	473
2010	—	—	—	—	—	460
2009	—	—	—	—	—	476
2008	—	—	—	—	—	578
2007	—	—	—	—	—	605

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

8.1 %

Net profit / revenue

Return on equity (ROE)

49.6 %

Net profit / equity

Return on assets (ROA)

29.6 %

Net profit / assets

Equity ratio

59.6 %

Equity / assets

Debt ratio

40.4 %

Liabilities / assets

Current ratio

1.87

Current assets / current liabilities

Revenue per employee

57 290 €

Revenue / average full-time employees

Labour cost per employee per month

1 787 €

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	30 Jun 2026	Company’s own · audited	e-Äriregister
2024	1 Jan 2024 – 31 Dec 2024	30 Jun 2025	Company’s own · audited	e-Äriregister
2023	1 Jan 2023 – 31 Dec 2023	30 Jun 2024	Company’s own · audited	e-Äriregister
2022	1 Jan 2022 – 31 Dec 2022	30 Jun 2023	Company’s own · audited	e-Äriregister
2021	1 Jan 2021 – 31 Dec 2021	30 Jun 2022	Company’s own · audited	e-Äriregister
2020	1 Jan 2020 – 31 Dec 2020	30 Jun 2021	Company’s own · audited	e-Äriregister
2019	1 Jan 2019 – 31 Dec 2019	11 Sep 2020	Company’s own · audited	e-Äriregister

Board

Nasdaq CSD SE
Keeper of the share ledger · since 28 Sep 2017
Aigars Kaugars
Board member · since 20 Sep 2011
Aaro Lode
Board member · since 10 Jan 2024

Right of representation

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

Owners

No owner information.

Beneficial owners

Aaro Lode
Member of a senior management body (management or supervisory board) · since 4 Jul 2024
Aigars Kaugars
Direct ownership · LVA · since 29 Oct 2018
Anita Gleizde
Direct ownership · LVA · since 29 Oct 2018
Guntis Bredovskis
Direct ownership · LVA · since 29 Oct 2018
Kristine Riemere
Direct ownership · LVA · since 29 Oct 2018

Founders and other persons

Fazer Food Service AB
Founder · 1 000 000 € · 31 May 2007
Grant Thornton Baltic OÜ
Audit firm · 1 Jan 2017
Anita Gleizde
Chairman of the supervisory board · 13 Oct 2022
Aigars Bālinš
Supervisory board member · 13 Oct 2022
Kristine Riemere
Supervisory board member · 13 Oct 2022
Omanikukonto: BR GROUP SIA
Shareholder · 47 500 € · 19 Apr 2024

shared board members, owners or beneficial owners

Activities (EMTAK)

56111Activities of restaurants and cafes Main

Rulings 26

All rulings (PDF)

Rulings
Number, date	Title	Deadline	State	Document
Ä 10109471 / 23 10 Jan 2024	Amendment entry		In force 10 Jan 2024	PDF
Ä 10109471 / 22 27 Apr 2022	Amendment under Commercial Code § 525 (2)		In force 27 Apr 2022	PDF
Ä 10109471 / 21 17 Jan 2018	Amendment entry		In force 17 Jan 2018	PDF
Ä 10109471 / 20 30 Nov 2017	Amendment entry		In force 30 Nov 2017	PDF
Ä 10109471 / 19 12 Oct 2017	Amendment entry		In force 12 Oct 2017	PDF
Ä 10109471 / 18 28 Sep 2017	Amendment entry		In force 28 Sep 2017	PDF
Ä 10109471 / 17 25 Aug 2017	Amendment entry		In force 25 Aug 2017	PDF
K 10109471 / 16 12 Sep 2016	Commercial pledge deleted		In force 12 Sep 2016	PDF
K 10109471 / 15 12 Sep 2016	Commercial pledge deleted		In force 12 Sep 2016	PDF
Ä 10109471 / 14 17 Sep 2015	Amendment entry		In force 17 Sep 2015	PDF
Ä 10109471 / 13 18 Aug 2015	Entry refused		In force 4 Sep 2015	PDF
Ä 10109471 / 12 8 Jan 2015	Amendment entry		In force 8 Jan 2015	PDF
Ä 10109471 / M2 29 Dec 2014	Ruling to eliminate deficiencies	28 Jan 2015	Deficiencies eliminated 8 Jan 2015	PDF
K 10109471 / 11 1 Aug 2013	Commercial pledge entered		In force 1 Aug 2013	PDF
Ä 10109471 / 10 17 Feb 2012	Amendment entry		In force 17 Feb 2012	PDF
Ä 10109471 / 9 20 Sep 2011	Amendment entry		In force 20 Sep 2011	PDF
K 10159852 7 Sep 2011	Commercial pledge entered		In force 7 Sep 2011	PDF
Ä 10109471 / 8 14 Jul 2011	Amendment entry		In force 14 Jul 2011	PDF
Ä 10109471 / 7 6 Jul 2011	Division entry (second, constitutive)		In force 6 Jul 2011	PDF
Ä 10109471 / 6 9 Jun 2010	Amendment entry		In force 9 Jun 2010	PDF
Ä 109471 / 5 9 Nov 2009	Amendment entry		In force 9 Nov 2009	PDF
Ä 109471 / 4 8 Sep 2009	Amendment entry		In force 8 Sep 2009	PDF
Ä 109471 / 3 1 Jun 2009	Amendment entry		In force 1 Jun 2009	PDF
Ä 109471 / 2 4 Jul 2008	Amendment entry		In force 4 Jul 2008	PDF
Ä 109471 / M1 20 Jun 2008	Ruling to eliminate deficiencies (to be served)	30 Jul 2008	In force 30 Jun 2008	PDF
Ä 109471 31 May 2007	First entry		In force 31 May 2007	PDF

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

Baltic Restaurants Estonia AS

Position in the industry Food and beverage service activities · EMTAK 56

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 26