Belief Water OÜ

Active Registry code 12978834 OÜ Tallinn Registered 15 Jan 2016
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Belief Water OÜ is a OÜ based in Tallinn, registry code 12978834, status: active. Main activity: Wholesale of other beverages. According to EMTA, turnover for Q3 2026 was €2 275 022 with 7 employees.

Turnover
2 275 022 €
↑ 24.2% vs Q2 2026
State taxes
199 744 €
↑ 18.3% vs Q2 2026
Labour taxes
29 729 €
↑ 14.1% vs Q2 2026
Employees
7
±0 vs Q2 2026

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

Position in the industry Wholesale trade · EMTAK 46

  • Turnover · Q3 2026 2.3 mn €
    industry median 60 065 € · companies in the industry: 6 941
  • Labour taxes per employee 4 247 €
    industry median 2 104 € · companies in the industry: 4 194
  • Revenue · 2024 4.1 mn €
    industry median 60 216 € · companies in the industry: 10 685
  • Net profit margin · 2024 7.8 %
    industry median 2.9 % · companies in the industry: 7 870

Taxes and turnover

Q4 2023 – Q3 2026
Turnover, € thousand Q3 2026: 2 275 022 € · +24.2% vs Q2 2026 · industry median 60 065 € · above 93% of the industry
05001 0001 5002 0002 500Q4 2023 Company: 859 431 € Industry median: 69 842 €Q4·23Q1 2024 Company: 889 939 € Industry median: 60 423 €Q2 2024 Company: 1 305 795 € Industry median: 66 207 €Q2·24Q3 2024 Company: 1 130 669 € Industry median: 63 101 €Q4 2024 Company: 1 018 646 € Industry median: 65 867 €Q4·24Q1 2025 Company: 997 605 € Industry median: 59 713 €Q2 2025 Company: 1 311 383 € Industry median: 61 800 €Q2·25Q3 2025 Company: 1 309 201 € Industry median: 59 911 €Q4 2025 Company: 1 146 963 € Industry median: 59 583 €Q4·25Q1 2026 Company: 2 011 141 € Industry median: 53 954 €Q2 2026 Company: 1 832 263 € Industry median: 61 600 €Q2·26Q3 2026 Company: 2 275 022 € Industry median: 60 065 €Q3·2605001 0001 5002 0002 500Q4 2024 Company: 1 018 646 € Industry median: 65 867 €Q1 2025 Company: 997 605 € Industry median: 59 713 €Q1·25Q2 2025 Company: 1 311 383 € Industry median: 61 800 €Q3 2025 Company: 1 309 201 € Industry median: 59 911 €Q3·25Q4 2025 Company: 1 146 963 € Industry median: 59 583 €Q1 2026 Company: 2 011 141 € Industry median: 53 954 €Q1·26Q2 2026 Company: 1 832 263 € Industry median: 61 600 €Q3 2026 Company: 2 275 022 € Industry median: 60 065 €Q3·26
  • Company
  • Industry median

Industry: Wholesale trade (the EMTAK division of the main activity). Median: half of the industry is above, half below.

Labour taxes per employee, € Q3 2026: 4 247 € · +14.1% vs Q2 2026 · industry median 2 104 € · above 79% of the industry
01 0002 0003 0004 0005 000Q4 2023 Company: 3 180 € Industry median: 1 903 €Q4·23Q1 2024 Company: 3 580 € Industry median: 1 948 €Q2 2024 Company: 4 373 € Industry median: 1 960 €Q2·24Q3 2024 Company: 4 515 € Industry median: 2 029 €Q4 2024 Company: 3 910 € Industry median: 2 008 €Q4·24Q1 2025 Company: 3 177 € Industry median: 2 079 €Q2 2025 Company: 2 798 € Industry median: 2 091 €Q2·25Q3 2025 Company: 3 673 € Industry median: 2 158 €Q4 2025 Company: 3 030 € Industry median: 2 169 €Q4·25Q1 2026 Company: 4 152 € Industry median: 2 089 €Q2 2026 Company: 3 721 € Industry median: 2 068 €Q2·26Q3 2026 Company: 4 247 € Industry median: 2 104 €Q3·2601 0002 0003 0004 0005 000Q4 2024 Company: 3 910 € Industry median: 2 008 €Q1 2025 Company: 3 177 € Industry median: 2 079 €Q1·25Q2 2025 Company: 2 798 € Industry median: 2 091 €Q3 2025 Company: 3 673 € Industry median: 2 158 €Q3·25Q4 2025 Company: 3 030 € Industry median: 2 169 €Q1 2026 Company: 4 152 € Industry median: 2 089 €Q1·26Q2 2026 Company: 3 721 € Industry median: 2 068 €Q3 2026 Company: 4 247 € Industry median: 2 104 €Q3·26
  • Company
  • Industry median

Industry: Wholesale trade (the EMTAK division of the main activity). Median: half of the industry is above, half below.

Employees Q3 2026: 7 · +0.0% vs Q2 2026
02468Q4 2023 Company: 4Q4·23Q1 2024 Company: 4Q2 2024 Company: 4Q2·24Q3 2024 Company: 3Q4 2024 Company: 3Q4·24Q1 2025 Company: 4Q2 2025 Company: 5Q2·25Q3 2025 Company: 5Q4 2025 Company: 6Q4·25Q1 2026 Company: 6Q2 2026 Company: 7Q2·26Q3 2026 Company: 7Q3·2602468Q4 2024 Company: 3Q1 2025 Company: 4Q1·25Q2 2025 Company: 5Q3 2025 Company: 5Q3·25Q4 2025 Company: 6Q1 2026 Company: 6Q1·26Q2 2026 Company: 7Q3 2026 Company: 7Q3·26
State taxes, € thousand Q3 2026: 199 744 € · +18.3% vs Q2 2026
0100200300Q4 2023 Company: 78 654 €Q4·23Q1 2024 Company: 52 077 €Q2 2024 Company: 48 614 €Q2·24Q3 2024 Company: 83 215 €Q4 2024 Company: 42 780 €Q4·24Q1 2025 Company: 78 495 €Q2 2025 Company: 82 436 €Q2·25Q3 2025 Company: 127 653 €Q4 2025 Company: 72 438 €Q4·25Q1 2026 Company: 275 045 €Q2 2026 Company: 168 859 €Q2·26Q3 2026 Company: 199 744 €Q3·260100200300Q4 2024 Company: 42 780 €Q1 2025 Company: 78 495 €Q1·25Q2 2025 Company: 82 436 €Q3 2025 Company: 127 653 €Q3·25Q4 2025 Company: 72 438 €Q1 2026 Company: 275 045 €Q1·26Q2 2026 Company: 168 859 €Q3 2026 Company: 199 744 €Q3·26
Figures by quarter
Quarter Turnover, € State taxes, € Labour taxes, € Employees
Q3 2026 2 275 022 199 744 29 729 7
Q2 2026 1 832 263 168 859 26 049 7
Q1 2026 2 011 141 275 045 24 912 6
Q4 2025 1 146 963 72 438 18 179 6
Q3 2025 1 309 201 127 653 18 365 5
Q2 2025 1 311 383 82 436 13 990 5
Q1 2025 997 605 78 495 12 709 4
Q4 2024 1 018 646 42 780 11 731 3
Q3 2024 1 130 669 83 215 13 544 3
Q2 2024 1 305 795 48 614 17 493 4
Q1 2024 889 939 52 077 14 318 4
Q4 2023 859 431 78 654 12 720 4
Q3 2023 1 015 932 55 190 14 201 4
Q2 2023 1 079 267 35 522 11 924 5
Q1 2023 778 552 31 381 11 056 3
Q4 2022 560 058 35 168 9 876 3
Q3 2022 663 489 73 607 11 582 3
Q2 2022 598 817 16 003 12 202 3
Q1 2022 377 521 24 032 10 596 3
Labour taxes per employee per month
1 416 €
Turnover per employee in the quarter
325 003 €

Q3 2026 · calculated from EMTA data

Financials by year

2016 – 2024
Revenue, € thousand 2024: 4 131 599 € · +30.6% vs 2023 · industry median 60 216 € · above 92% of the industry
01 0002 0003 0004 0005 0002016 Company: — Industry median: —20162017 Company: — Industry median: —20172018 Company: — Industry median: —20182019 Company: 281 900 € Industry median: 78 948 €20192020 Company: 491 808 € Industry median: 67 913 €20202021 Company: 1 150 457 € Industry median: 71 656 €20212022 Company: 1 916 394 € Industry median: 75 397 €20222023 Company: 3 163 996 € Industry median: 63 715 €20232024 Company: 4 131 599 € Industry median: 60 216 €202401 0002 0003 0004 0005 0002017 Company: — Industry median: —2018 Company: — Industry median: —20182019 Company: 281 900 € Industry median: 78 948 €2020 Company: 491 808 € Industry median: 67 913 €20202021 Company: 1 150 457 € Industry median: 71 656 €2022 Company: 1 916 394 € Industry median: 75 397 €20222023 Company: 3 163 996 € Industry median: 63 715 €2024 Company: 4 131 599 € Industry median: 60 216 €2024
  • Company
  • Industry median

Industry: Wholesale trade (the EMTAK division of the main activity). Median: half of the industry is above, half below.

Net profit, € thousand 2024: 321 338 € · −20.7% vs 2023 · industry median 134 € · above 95% of the industry
-10001002003004005002016 Company: — Industry median: —20162017 Company: — Industry median: —20172018 Company: — Industry median: —20182019 Company: -49 868 € Industry median: 1 086 €20192020 Company: -73 835 € Industry median: 906 €20202021 Company: 60 954 € Industry median: 1 415 €20212022 Company: 118 413 € Industry median: 889 €20222023 Company: 405 057 € Industry median: 370 €20232024 Company: 321 338 € Industry median: 134 €2024-10001002003004005002017 Company: — Industry median: —2018 Company: — Industry median: —20182019 Company: -49 868 € Industry median: 1 086 €2020 Company: -73 835 € Industry median: 906 €20202021 Company: 60 954 € Industry median: 1 415 €2022 Company: 118 413 € Industry median: 889 €20222023 Company: 405 057 € Industry median: 370 €2024 Company: 321 338 € Industry median: 134 €2024
  • Company
  • Industry median

Industry: Wholesale trade (the EMTAK division of the main activity). Median: half of the industry is above, half below.

Net profit margin, % 2024: 7.8 % · −5.0 pp vs the year before · industry median 2.9 % · above 67% of the industry
-20-10010202016 Company: — Industry median: —20162017 Company: — Industry median: —20172018 Company: — Industry median: —20182019 Company: -17.7 % Industry median: 3.7 %20192020 Company: -15.0 % Industry median: 4.2 %20202021 Company: 5.3 % Industry median: 4.9 %20212022 Company: 6.2 % Industry median: 4.2 %20222023 Company: 12.8 % Industry median: 3.5 %20232024 Company: 7.8 % Industry median: 2.9 %2024-20-10010202017 Company: — Industry median: —2018 Company: — Industry median: —20182019 Company: -17.7 % Industry median: 3.7 %2020 Company: -15.0 % Industry median: 4.2 %20202021 Company: 5.3 % Industry median: 4.9 %2022 Company: 6.2 % Industry median: 4.2 %20222023 Company: 12.8 % Industry median: 3.5 %2024 Company: 7.8 % Industry median: 2.9 %2024
  • Company
  • Industry median

Industry: Wholesale trade (the EMTAK division of the main activity). Median: half of the industry is above, half below.

Assets, € thousand 2024: 1 976 960 € · +25.8% vs 2023
05001 0001 5002 0002016 Company: —20162017 Company: —20172018 Company: —20182019 Company: 363 106 €20192020 Company: 323 728 €20202021 Company: 884 761 €20212022 Company: 1 040 730 €20222023 Company: 1 572 004 €20232024 Company: 1 976 960 €202405001 0001 5002 0002017 Company: —2018 Company: —20182019 Company: 363 106 €2020 Company: 323 728 €20202021 Company: 884 761 €2022 Company: 1 040 730 €20222023 Company: 1 572 004 €2024 Company: 1 976 960 €2024
Equity, € thousand 2024: 1 593 165 € · +24.0% vs 2023
05001 0001 5002 0002016 Company: —20162017 Company: —20172018 Company: —20182019 Company: 295 483 €20192020 Company: 221 662 €20202021 Company: 761 492 €20212022 Company: 879 905 €20222023 Company: 1 284 962 €20232024 Company: 1 593 165 €202405001 0001 5002 0002017 Company: —2018 Company: —20182019 Company: 295 483 €2020 Company: 221 662 €20202021 Company: 761 492 €2022 Company: 879 905 €20222023 Company: 1 284 962 €2024 Company: 1 593 165 €2024
Employees 2024: 3 · −25.0% vs 2023 · industry median 2 · above 65% of the industry
012342016 Company: 0 Industry median: —20162017 Company: 0 Industry median: —20172018 Company: 2 Industry median: 220182019 Company: 2 Industry median: 220192020 Company: 3 Industry median: 220202021 Company: 3 Industry median: 220212022 Company: 3 Industry median: 220222023 Company: 4 Industry median: 220232024 Company: 3 Industry median: 22024012342017 Company: 0 Industry median: —2018 Company: 2 Industry median: 220182019 Company: 2 Industry median: 22020 Company: 3 Industry median: 220202021 Company: 3 Industry median: 22022 Company: 3 Industry median: 220222023 Company: 4 Industry median: 22024 Company: 3 Industry median: 22024
  • Company
  • Industry median

Industry: Wholesale trade (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
2024 4 131 599 321 338 128 568 1 976 960 1 593 165 3
2023 3 163 996 405 057 113 267 1 572 004 1 284 962 4
2022 1 916 394 118 413 99 847 1 040 730 879 905 3
2021 1 150 457 60 954 75 114 884 761 761 492 3
2020 491 808 -73 835 58 157 323 728 221 662 3
2019 281 900 -49 868 49 074 363 106 295 483 2
2018 — — — — — 2
2017 — — — — — 0
2016 — — — — — 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 2024

Net profit margin
7.8 %
Net profit / revenue
Return on equity (ROE)
20.2 %
Net profit / equity
Return on assets (ROA)
16.3 %
Net profit / assets
Equity ratio
80.6 %
Equity / assets
Debt ratio
19.4 %
Liabilities / assets
Current ratio
5.11
Current assets / current liabilities
Revenue per employee
1 377 200 €
Revenue / average full-time employees
Labour cost per employee per month
3 571 €
Labour costs / employees / 12 months (incl. employer taxes)

Annual reports

PDFs from e-Äriregister
Annual reports
Year Period Filed Report Documents
2024 1 Jan 2024 – 31 Dec 2024 8 Sep 2025 Company’s own · audited e-Äriregister
2023 1 Jan 2023 – 31 Dec 2023 21 Jul 2024 Company’s own · audited e-Äriregister
2022 1 Jan 2022 – 31 Dec 2022 13 Dec 2023 Company’s own · audited e-Äriregister
2021 1 Jan 2021 – 31 Dec 2021 8 Aug 2022 Company’s own e-Äriregister
2020 1 Jan 2020 – 31 Dec 2020 19 Jul 2021 Company’s own e-Äriregister
2019 1 Jan 2019 – 31 Dec 2019 4 Dec 2020 Company’s own e-Äriregister

Board

  • Raido Kereme
    Board member · since 15 Jan 2016
  • Nasdaq CSD SE
    Keeper of the share register · since 28 Sep 2017

Right of representation

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

Owners

Beneficial owners

Founders and other persons

shared board members, owners or beneficial owners

Activities (EMTAK)

  • 46349Wholesale of other beverages Main

Rulings 21

All rulings (PDF)
Rulings
Number, date Title Deadline State Document
Ä 50022365 / M9
11 Jul 2024
 Warning of a fine: annual report not filed 10 Aug 2024 Deficiencies eliminated
22 Jul 2024
 PDF
Ä 50022365 / M8
27 Nov 2023
 Warning of a fine: annual report not filed 27 Dec 2023 Deficiencies eliminated
13 Dec 2023
 PDF
Ä 50022365 / 12
14 Dec 2021
 Amendment entry In force
14 Dec 2021
 PDF
Ä 50022365 / M7
29 Nov 2021
 Ruling to eliminate deficiencies 8 Jan 2022 Deficiencies eliminated
12 Dec 2021
 PDF
Ä 50022365 / 11
26 Aug 2020
 Amendment under Commercial Code § 525 (2) In force
26 Aug 2020
 PDF
Ä 50022365 / 10
12 Nov 2019
 Amendment entry In force
12 Nov 2019
 PDF
Ä 50022365 / M6
23 Oct 2019
 Ruling to eliminate deficiencies 7 Nov 2019 In force
23 Oct 2019
 PDF
Ä 50022365 / 9
26 Apr 2018
 Amendment entry In force
26 Apr 2018
 PDF
Ä 50022365 / M5
13 Apr 2018
 Ruling to eliminate deficiencies 28 Apr 2018 Deficiencies eliminated
20 Apr 2018
 PDF
Ä 50022365 / M4
9 Apr 2018
 Ruling to eliminate deficiencies 24 Apr 2018 Deficiencies eliminated
20 Apr 2018
 PDF
Ä 50022365 / 8
6 Mar 2018
 Amendment under Commercial Code § 525 (2) In force
6 Mar 2018
 PDF
Ä 50022365 / 7
20 Jan 2018
 Amendment entry In force
20 Jan 2018
 PDF
Ä 50022365 / 6
11 Dec 2017
 Amendment entry In force
11 Dec 2017
 PDF
Ä 50022365 / 5
28 Sep 2017
 Amendment entry In force
28 Sep 2017
 PDF
Ä 50022365 / 4
7 Jul 2017
 Amendment entry In force
7 Jul 2017
 PDF
Ä 50022365 / M3
28 Jun 2017
 Ruling to eliminate deficiencies 28 Jul 2017 Deficiencies eliminated
7 Jul 2017
 PDF
Ä 50022365 / 3
16 Jun 2017
 Amendment entry In force
16 Jun 2017
 PDF
Ä 50022365 / 2
16 May 2017
 Amendment entry In force
16 May 2017
 PDF
Ä 50022365 / M2
3 May 2017
 Ruling to eliminate deficiencies 2 Jun 2017 Deficiencies eliminated
16 May 2017
 PDF
Ä 50022365 / M1
21 Apr 2017
 Ruling to eliminate deficiencies 21 May 2017 Deficiencies eliminated
3 May 2017
 PDF
Ä 50022365
15 Jan 2016
 First entry In force
15 Jan 2016
 PDF

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