No Excuses OÜ

Active Registry code 12057940 OÜ Tallinn Registered 9 Feb 2011
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No Excuses OÜ is a OÜ based in Tallinn, registry code 12057940, status: active. Main activity: Intermediation service activities for real estate activities. According to EMTA, turnover for Q3 2026 was €1 922 with 1 employees.

Turnover
1 922 €
↓ 9.7% vs Q2 2026
State taxes
935 €
↓ 17.3% vs Q2 2026
Labour taxes
1 049 €
↑ 0.0% vs Q2 2026
Employees
1
±0 vs Q2 2026

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

Position in the industry Real estate activities · EMTAK 68

  • Turnover · Q3 2026 1 922 €
    industry median 15 030 € · companies in the industry: 7 443
  • Labour taxes per employee 1 049 €
    industry median 857 € · companies in the industry: 7 261
  • Revenue · 2025 455 236 €
    industry median 13 620 € · companies in the industry: 30 471
  • Net profit margin · 2025 85.2 %
    industry median 5.9 % · companies in the industry: 25 043

Taxes and turnover

Q4 2023 – Q3 2026
Turnover, € Q3 2026: 1 922 € · −9.7% vs Q2 2026 · industry median 15 030 € · above 16% of the industry
020 00040 00060 000Q4 2023 Company: 57 167 € Industry median: 14 897 €Q4·23Q1 2024 Company: 5 185 € Industry median: 15 027 €Q2 2024 Company: 13 414 € Industry median: 14 064 €Q2·24Q3 2024 Company: 2 029 € Industry median: 14 462 €Q4 2024 Company: 0 € Industry median: 14 610 €Q4·24Q1 2025 Company: 5 000 € Industry median: 14 672 €Q2 2025 Company: 669 € Industry median: 14 301 €Q2·25Q3 2025 Company: 0 € Industry median: 14 273 €Q4 2025 Company: 2 033 € Industry median: 14 464 €Q4·25Q1 2026 Company: 1 942 € Industry median: 14 759 €Q2 2026 Company: 2 129 € Industry median: 14 595 €Q2·26Q3 2026 Company: 1 922 € Industry median: 15 030 €Q3·2605 00010 00015 00020 000Q4 2024 Company: 0 € Industry median: 14 610 €Q1 2025 Company: 5 000 € Industry median: 14 672 €Q1·25Q2 2025 Company: 669 € Industry median: 14 301 €Q3 2025 Company: 0 € Industry median: 14 273 €Q3·25Q4 2025 Company: 2 033 € Industry median: 14 464 €Q1 2026 Company: 1 942 € Industry median: 14 759 €Q1·26Q2 2026 Company: 2 129 € Industry median: 14 595 €Q3 2026 Company: 1 922 € Industry median: 15 030 €Q3·26
  • Company
  • Industry median

Industry: Real estate activities (the EMTAK division of the main activity). Median: half of the industry is above, half below.

Labour taxes per employee, € Q3 2026: 1 049 € · +0.0% vs Q2 2026 · industry median 857 € · above 59% of the industry
02505007501 0001 250Q4 2023 Company: 466 € Industry median: 671 €Q4·23Q1 2024 Company: 572 € Industry median: 694 €Q2 2024 Company: 1 024 € Industry median: 712 €Q2·24Q3 2024 Company: 1 083 € Industry median: 728 €Q4 2024 Company: 1 083 € Industry median: 727 €Q4·24Q1 2025 Company: 1 096 € Industry median: 780 €Q2 2025 Company: 735 € Industry median: 771 €Q2·25Q3 2025 Company: 1 103 € Industry median: 812 €Q4 2025 Company: 1 103 € Industry median: 812 €Q4·25Q1 2026 Company: 1 067 € Industry median: 818 €Q2 2026 Company: 1 049 € Industry median: 828 €Q2·26Q3 2026 Company: 1 049 € Industry median: 857 €Q3·2602505007501 0001 250Q4 2024 Company: 1 083 € Industry median: 727 €Q1 2025 Company: 1 096 € Industry median: 780 €Q1·25Q2 2025 Company: 735 € Industry median: 771 €Q3 2025 Company: 1 103 € Industry median: 812 €Q3·25Q4 2025 Company: 1 103 € Industry median: 812 €Q1 2026 Company: 1 067 € Industry median: 818 €Q1·26Q2 2026 Company: 1 049 € Industry median: 828 €Q3 2026 Company: 1 049 € Industry median: 857 €Q3·26
  • Company
  • Industry median

Industry: Real estate activities (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
0.00.20.40.60.81.0Q4 2023 Company: 1Q4·23Q1 2024 Company: 1Q2 2024 Company: 1Q2·24Q3 2024 Company: 1Q4 2024 Company: 1Q4·24Q1 2025 Company: 1Q2 2025 Company: 1Q2·25Q3 2025 Company: 1Q4 2025 Company: 1Q4·25Q1 2026 Company: 1Q2 2026 Company: 1Q2·26Q3 2026 Company: 1Q3·260.00.20.40.60.81.0Q4 2024 Company: 1Q1 2025 Company: 1Q1·25Q2 2025 Company: 1Q3 2025 Company: 1Q3·25Q4 2025 Company: 1Q1 2026 Company: 1Q1·26Q2 2026 Company: 1Q3 2026 Company: 1Q3·26
State taxes, € Q3 2026: 935 € · −17.3% vs Q2 2026
02 0004 0006 000Q4 2023 Company: 3 448 €Q4·23Q1 2024 Company: 5 265 €Q2 2024 Company: 3 697 €Q2·24Q3 2024 Company: 1 223 €Q4 2024 Company: 969 €Q4·24Q1 2025 Company: 1 126 €Q2 2025 Company: 894 €Q2·25Q3 2025 Company: 987 €Q4 2025 Company: 0 €Q4·25Q1 2026 Company: 1 472 €Q2 2026 Company: 1 131 €Q2·26Q3 2026 Company: 935 €Q3·2605001 0001 500Q4 2024 Company: 969 €Q1 2025 Company: 1 126 €Q1·25Q2 2025 Company: 894 €Q3 2025 Company: 987 €Q3·25Q4 2025 Company: 0 €Q1 2026 Company: 1 472 €Q1·26Q2 2026 Company: 1 131 €Q3 2026 Company: 935 €Q3·26
Figures by quarter
Quarter Turnover, € State taxes, € Labour taxes, € Employees
Q3 2026 1 922 935 1 049 1
Q2 2026 2 129 1 131 1 049 1
Q1 2026 1 942 1 472 1 067 1
Q4 2025 2 033 — 1 103 1
Q3 2025 — 987 1 103 1
Q2 2025 669 894 735 1
Q1 2025 5 000 1 126 1 096 1
Q4 2024 — 969 1 083 1
Q3 2024 2 029 1 223 1 083 1
Q2 2024 13 414 3 697 1 024 1
Q1 2024 5 185 5 265 572 1
Q4 2023 57 167 3 448 466 1
Q3 2023 13 001 3 459 1 179 1
Q2 2023 18 706 6 721 698 1
Q1 2023 10 491 937 768 1
Q4 2022 10 420 751 460 1
Q3 2022 8 242 680 535 1
Q2 2022 8 759 719 802 1
Q1 2022 35 401 6 047 802 1
Labour taxes per employee per month
350 €
Turnover per employee in the quarter
1 922 €

Q3 2026 · calculated from EMTA data

Financials by year

2016 – 2025
Revenue, € thousand 2025: 455 236 € · +521.6% vs 2024 · industry median 13 620 € · above 98% of the industry
01002003004005002016 Company: — Industry median: —20162017 Company: — Industry median: —20172018 Company: — Industry median: —20182019 Company: 46 173 € Industry median: 10 800 €20192020 Company: 57 174 € Industry median: 10 586 €20202021 Company: 50 143 € Industry median: 11 162 €20212022 Company: 63 952 € Industry median: 11 789 €20222023 Company: 76 449 € Industry median: 12 224 €20232024 Company: 73 232 € Industry median: 12 853 €20242025 Company: 455 236 € Industry median: 13 620 €202501002003004005002018 Company: — Industry median: —2019 Company: 46 173 € Industry median: 10 800 €20192020 Company: 57 174 € Industry median: 10 586 €2021 Company: 50 143 € Industry median: 11 162 €20212022 Company: 63 952 € Industry median: 11 789 €2023 Company: 76 449 € Industry median: 12 224 €20232024 Company: 73 232 € Industry median: 12 853 €2025 Company: 455 236 € Industry median: 13 620 €2025
  • Company
  • Industry median

Industry: Real estate activities (the EMTAK division of the main activity). Median: half of the industry is above, half below.

Net profit, € thousand 2025: 387 715 € · +5 344.4% vs 2024 · industry median 283 € · above 98% of the industry
-10001002003004002016 Company: — Industry median: —20162017 Company: — Industry median: —20172018 Company: — Industry median: —20182019 Company: 57 348 € Industry median: 205 €20192020 Company: 29 341 € Industry median: 175 €20202021 Company: 14 011 € Industry median: 251 €20212022 Company: 35 012 € Industry median: 161 €20222023 Company: 18 023 € Industry median: 154 €20232024 Company: -7 393 € Industry median: 256 €20242025 Company: 387 715 € Industry median: 283 €2025-10001002003004002018 Company: — Industry median: —2019 Company: 57 348 € Industry median: 205 €20192020 Company: 29 341 € Industry median: 175 €2021 Company: 14 011 € Industry median: 251 €20212022 Company: 35 012 € Industry median: 161 €2023 Company: 18 023 € Industry median: 154 €20232024 Company: -7 393 € Industry median: 256 €2025 Company: 387 715 € Industry median: 283 €2025
  • Company
  • Industry median

Industry: Real estate activities (the EMTAK division of the main activity). Median: half of the industry is above, half below.

Net profit margin, % 2025: 85.2 % · +95.3 pp vs the year before · industry median 5.9 % · above 90% of the industry
-500501001502016 Company: — Industry median: —20162017 Company: — Industry median: —20172018 Company: — Industry median: —20182019 Company: 124.2 % Industry median: 5.7 %20192020 Company: 51.3 % Industry median: 5.6 %20202021 Company: 27.9 % Industry median: 7.4 %20212022 Company: 54.7 % Industry median: 5.9 %20222023 Company: 23.6 % Industry median: 5.2 %20232024 Company: -10.1 % Industry median: 5.9 %20242025 Company: 85.2 % Industry median: 5.9 %2025-500501001502018 Company: — Industry median: —2019 Company: 124.2 % Industry median: 5.7 %20192020 Company: 51.3 % Industry median: 5.6 %2021 Company: 27.9 % Industry median: 7.4 %20212022 Company: 54.7 % Industry median: 5.9 %2023 Company: 23.6 % Industry median: 5.2 %20232024 Company: -10.1 % Industry median: 5.9 %2025 Company: 85.2 % Industry median: 5.9 %2025
  • Company
  • Industry median

Industry: Real estate activities (the EMTAK division of the main activity). Median: half of the industry is above, half below.

Assets, € thousand 2025: 979 652 € · +44.9% vs 2024
02004006008001 0002016 Company: —20162017 Company: —20172018 Company: —20182019 Company: 262 596 €20192020 Company: 308 142 €20202021 Company: 324 517 €20212022 Company: 358 179 €20222023 Company: 666 565 €20232024 Company: 675 859 €20242025 Company: 979 652 €202502004006008001 0002018 Company: —2019 Company: 262 596 €20192020 Company: 308 142 €2021 Company: 324 517 €20212022 Company: 358 179 €2023 Company: 666 565 €20232024 Company: 675 859 €2025 Company: 979 652 €2025
Equity, € thousand 2025: 709 244 € · +120.6% vs 2024
02004006008002016 Company: —20162017 Company: —20172018 Company: —20182019 Company: 262 519 €20192020 Company: 261 877 €20202021 Company: 275 888 €20212022 Company: 310 899 €20222023 Company: 328 923 €20232024 Company: 321 529 €20242025 Company: 709 244 €202502004006008002018 Company: —2019 Company: 262 519 €20192020 Company: 261 877 €2021 Company: 275 888 €20212022 Company: 310 899 €2023 Company: 328 923 €20232024 Company: 321 529 €2025 Company: 709 244 €2025
Employees 2025: 1 · +0.0% vs 2024 · industry median 1 · above 5% of the industry
0.00.51.01.52.02016 Company: 1 Industry median: —20162017 Company: 2 Industry median: —20172018 Company: 1 Industry median: 120182019 Company: 1 Industry median: 120192020 Company: 1 Industry median: 120202021 Company: 1 Industry median: 120212022 Company: 1 Industry median: 120222023 Company: 1 Industry median: 120232024 Company: 1 Industry median: 120242025 Company: 1 Industry median: 120250.00.20.40.60.81.02018 Company: 1 Industry median: 12019 Company: 1 Industry median: 120192020 Company: 1 Industry median: 12021 Company: 1 Industry median: 120212022 Company: 1 Industry median: 12023 Company: 1 Industry median: 120232024 Company: 1 Industry median: 12025 Company: 1 Industry median: 12025
  • Company
  • Industry median

Industry: Real estate 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 455 236 387 715 12 843 979 652 709 244 1
2024 73 232 -7 393 12 580 675 859 321 529 1
2023 76 449 18 023 10 275 666 565 328 923 1
2022 63 952 35 012 8 000 358 179 310 899 1
2021 50 143 14 011 10 410 324 517 275 888 1
2020 57 174 29 341 10 218 308 142 261 877 1
2019 46 173 57 348 8 028 262 596 262 519 1
2018 — — — — — 1
2017 — — — — — 2
2016 — — — — — 1
2015 — — — — — 1
2014 — — — — — 1
2013 — — — — — 0
2012 — — — — — 0
2011 — — — — — 0

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
85.2 %
Net profit / revenue
Return on equity (ROE)
54.7 %
Net profit / equity
Return on assets (ROA)
39.6 %
Net profit / assets
Equity ratio
72.4 %
Equity / assets
Debt ratio
27.6 %
Liabilities / assets
Current ratio
2.41
Current assets / current liabilities
Revenue per employee
455 236 €
Revenue / average full-time employees
Labour cost per employee per month
1 070 €
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 9 Jun 2026 Company’s own e-Äriregister
2024 1 Jan 2024 – 31 Dec 2024 21 Jun 2025 Company’s own e-Äriregister
2023 1 Jan 2023 – 31 Dec 2023 20 Jun 2024 Company’s own e-Äriregister
2022 1 Jan 2022 – 31 Dec 2022 25 Jun 2023 Company’s own e-Äriregister
2021 1 Jan 2021 – 31 Dec 2021 11 Jul 2022 Company’s own e-Äriregister
2020 1 Jan 2020 – 31 Dec 2020 30 Jun 2021 Company’s own e-Äriregister
2019 1 Jan 2019 – 31 Dec 2019 24 Sep 2020 Company’s own e-Äriregister

Board

Right of representation

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

Owners

Beneficial owners

  • Mati Meier
    Direct ownership · since 19 Oct 2018

Founders and other persons

shared board members, owners or beneficial owners

Activities (EMTAK)

  • 68311Intermediation service activities for real estate activities Main

Rulings 9

All rulings (PDF)
Rulings
Number, date Title Deadline State Document
Ä 10152760 / 8
2 Sep 2023
 Amendment entry In force
2 Sep 2023
 PDF
Ä 10152760 / 7
3 Feb 2021
 Amendment under Commercial Code § 525 (2) In force
3 Feb 2021
 PDF
Ä 10152760 / 6
23 May 2018
 Amendment entry In force
23 May 2018
 PDF
Ä 10152760 / 5
17 Jan 2018
 Amendment entry In force
17 Jan 2018
 PDF
Ä 10152760 / 4
30 Aug 2017
 Amendment under Commercial Code § 525 (2) In force
30 Aug 2017
 PDF
Ä 10152760 / 3
1 Sep 2016
 Amendment entry In force
1 Sep 2016
 PDF
Ä 10152760 / 2
13 Nov 2015
 Amendment entry In force
13 Nov 2015
 PDF
Ä 10152760 / M1
11 Nov 2015
 Ruling to eliminate deficiencies 21 Nov 2015 Deficiencies eliminated
13 Nov 2015
 PDF
Ä 10152760
9 Feb 2011
 First entry In force
9 Feb 2011
 PDF

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