Tuleva Fondid AS

Active Registry code 14118923 AS Tallinn Registered 22 Sep 2016
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Tuleva Fondid AS is a AS based in Tallinn, registry code 14118923, status: active. Main activity: Fund management activities. According to EMTA, turnover for Q3 2026 was €19 959 with 9 employees.

Turnover
19 959 €
↓ 9.7% vs Q2 2026
State taxes
88 792 €
↓ 1.0% vs Q2 2026
Labour taxes
94 247 €
↑ 0.2% vs Q2 2026
Employees
9
+2 vs Q2 2026

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

Position in the industry Activities auxiliary to financial services and insurance activities · EMTAK 66

  • Turnover · Q3 2026 19 959 €
    industry median 13 814 € · companies in the industry: 339
  • Labour taxes per employee 10 472 €
    industry median 2 338 € · companies in the industry: 272
  • Revenue · 2025 2.7 mn €
    industry median 3 200 € · companies in the industry: 1 215
  • Net profit margin · 2025 31.8 %
    industry median 23.7 % · companies in the industry: 667

Taxes and turnover

Q4 2023 – Q3 2026
Turnover, € Q3 2026: 19 959 € · −9.7% vs Q2 2026 · industry median 13 814 € · above 57% of the industry
010 00020 00030 00040 000Q4 2023 Company: 7 524 € Industry median: 15 410 €Q4·23Q1 2024 Company: 12 913 € Industry median: 14 567 €Q2 2024 Company: 20 619 € Industry median: 14 307 €Q2·24Q3 2024 Company: 14 451 € Industry median: 15 089 €Q4 2024 Company: 19 130 € Industry median: 17 023 €Q4·24Q1 2025 Company: 12 170 € Industry median: 15 000 €Q2 2025 Company: 35 098 € Industry median: 14 295 €Q2·25Q3 2025 Company: 23 406 € Industry median: 15 833 €Q4 2025 Company: 18 651 € Industry median: 14 155 €Q4·25Q1 2026 Company: 12 556 € Industry median: 14 181 €Q2 2026 Company: 22 096 € Industry median: 13 350 €Q2·26Q3 2026 Company: 19 959 € Industry median: 13 814 €Q3·26010 00020 00030 00040 000Q4 2024 Company: 19 130 € Industry median: 17 023 €Q1 2025 Company: 12 170 € Industry median: 15 000 €Q1·25Q2 2025 Company: 35 098 € Industry median: 14 295 €Q3 2025 Company: 23 406 € Industry median: 15 833 €Q3·25Q4 2025 Company: 18 651 € Industry median: 14 155 €Q1 2026 Company: 12 556 € Industry median: 14 181 €Q1·26Q2 2026 Company: 22 096 € Industry median: 13 350 €Q3 2026 Company: 19 959 € Industry median: 13 814 €Q3·26
  • Company
  • Industry median

Industry: Activities auxiliary to financial services and insurance activities (the EMTAK division of the main activity). Median: half of the industry is above, half below.

Labour taxes per employee, € Q3 2026: 10 472 € · −22.0% vs Q2 2026 · industry median 2 338 € · above 91% of the industry
05 00010 00015 00020 000Q4 2023 Company: 10 288 € Industry median: 2 204 €Q4·23Q1 2024 Company: 10 710 € Industry median: 2 519 €Q2 2024 Company: 9 587 € Industry median: 2 244 €Q2·24Q3 2024 Company: 10 662 € Industry median: 2 155 €Q4 2024 Company: 9 763 € Industry median: 2 169 €Q4·24Q1 2025 Company: 10 285 € Industry median: 2 294 €Q2 2025 Company: 11 874 € Industry median: 2 197 €Q2·25Q3 2025 Company: 13 513 € Industry median: 2 337 €Q4 2025 Company: 16 540 € Industry median: 2 337 €Q4·25Q1 2026 Company: 12 890 € Industry median: 2 256 €Q2 2026 Company: 13 433 € Industry median: 2 325 €Q2·26Q3 2026 Company: 10 472 € Industry median: 2 338 €Q3·2605 00010 00015 00020 000Q4 2024 Company: 9 763 € Industry median: 2 169 €Q1 2025 Company: 10 285 € Industry median: 2 294 €Q1·25Q2 2025 Company: 11 874 € Industry median: 2 197 €Q3 2025 Company: 13 513 € Industry median: 2 337 €Q3·25Q4 2025 Company: 16 540 € Industry median: 2 337 €Q1 2026 Company: 12 890 € Industry median: 2 256 €Q1·26Q2 2026 Company: 13 433 € Industry median: 2 325 €Q3 2026 Company: 10 472 € Industry median: 2 338 €Q3·26
  • Company
  • Industry median

Industry: Activities auxiliary to financial services and insurance activities (the EMTAK division of the main activity). Median: half of the industry is above, half below.

Employees Q3 2026: 9 · +28.6% vs Q2 2026
03581013Q4 2023 Company: 6Q4·23Q1 2024 Company: 7Q2 2024 Company: 9Q2·24Q3 2024 Company: 9Q4 2024 Company: 10Q4·24Q1 2025 Company: 11Q2 2025 Company: 10Q2·25Q3 2025 Company: 9Q4 2025 Company: 7Q4·25Q1 2026 Company: 7Q2 2026 Company: 7Q2·26Q3 2026 Company: 9Q3·2603581013Q4 2024 Company: 10Q1 2025 Company: 11Q1·25Q2 2025 Company: 10Q3 2025 Company: 9Q3·25Q4 2025 Company: 7Q1 2026 Company: 7Q1·26Q2 2026 Company: 7Q3 2026 Company: 9Q3·26
State taxes, € thousand Q3 2026: 88 792 € · −1.0% vs Q2 2026
0255075100125Q4 2023 Company: 60 034 €Q4·23Q1 2024 Company: 74 218 €Q2 2024 Company: 86 585 €Q2·24Q3 2024 Company: 94 520 €Q4 2024 Company: 96 484 €Q4·24Q1 2025 Company: 106 940 €Q2 2025 Company: 113 550 €Q2·25Q3 2025 Company: 115 138 €Q4 2025 Company: 108 451 €Q4·25Q1 2026 Company: 83 619 €Q2 2026 Company: 89 728 €Q2·26Q3 2026 Company: 88 792 €Q3·260255075100125Q4 2024 Company: 96 484 €Q1 2025 Company: 106 940 €Q1·25Q2 2025 Company: 113 550 €Q3 2025 Company: 115 138 €Q3·25Q4 2025 Company: 108 451 €Q1 2026 Company: 83 619 €Q1·26Q2 2026 Company: 89 728 €Q3 2026 Company: 88 792 €Q3·26
Figures by quarter
Quarter Turnover, € State taxes, € Labour taxes, € Employees
Q3 2026 19 959 88 792 94 247 9
Q2 2026 22 096 89 728 94 030 7
Q1 2026 12 556 83 619 90 231 7
Q4 2025 18 651 108 451 115 778 7
Q3 2025 23 406 115 138 121 618 9
Q2 2025 35 098 113 550 118 743 10
Q1 2025 12 170 106 940 113 138 11
Q4 2024 19 130 96 484 97 632 10
Q3 2024 14 451 94 520 95 962 9
Q2 2024 20 619 86 585 86 285 9
Q1 2024 12 913 74 218 74 973 7
Q4 2023 7 524 60 034 61 725 6
Q3 2023 7 834 45 188 45 972 5
Q2 2023 6 239 75 872 78 812 4
Q1 2023 7 851 39 825 40 196 5
Q4 2022 2 694 37 558 39 020 5
Q3 2022 3 617 43 537 45 184 5
Q2 2022 5 724 33 477 33 664 4
Q1 2022 4 188 36 525 37 778 5
Labour taxes per employee per month
3 491 €
Turnover per employee in the quarter
2 218 €

Q3 2026 · calculated from EMTA data

Financials by year

2017 – 2025
Revenue, € thousand 2025: 2 687 909 € · +22.7% vs 2024 · industry median 3 200 € · above 98% of the industry
01 0002 0003 0002017 Company: — Industry median: —20172018 Company: — Industry median: —20182019 Company: 359 971 € Industry median: 5 400 €20192020 Company: 615 472 € Industry median: 3 790 €20202021 Company: 973 809 € Industry median: 4 200 €20212022 Company: 1 090 068 € Industry median: 3 539 €20222023 Company: 1 450 801 € Industry median: 3 094 €20232024 Company: 2 191 358 € Industry median: 3 510 €20242025 Company: 2 687 909 € Industry median: 3 200 €202501 0002 0003 0002018 Company: — Industry median: —2019 Company: 359 971 € Industry median: 5 400 €20192020 Company: 615 472 € Industry median: 3 790 €2021 Company: 973 809 € Industry median: 4 200 €20212022 Company: 1 090 068 € Industry median: 3 539 €2023 Company: 1 450 801 € Industry median: 3 094 €20232024 Company: 2 191 358 € Industry median: 3 510 €2025 Company: 2 687 909 € Industry median: 3 200 €2025
  • Company
  • Industry median

Industry: Activities auxiliary to financial services and insurance activities (the EMTAK division of the main activity). Median: half of the industry is above, half below.

Net profit, € thousand 2025: 853 899 € · −56.0% vs 2024 · industry median 80 € · above 98% of the industry
-1 00001 0002 0002017 Company: — Industry median: —20172018 Company: — Industry median: —20182019 Company: 660 728 € Industry median: 502 €20192020 Company: 269 465 € Industry median: 93 €20202021 Company: — Industry median: 269 €20212022 Company: -740 611 € Industry median: 0 €20222023 Company: 879 573 € Industry median: 10 €20232024 Company: 1 940 838 € Industry median: 165 €20242025 Company: 853 899 € Industry median: 80 €2025-1 00001 0002 0002018 Company: — Industry median: —2019 Company: 660 728 € Industry median: 502 €20192020 Company: 269 465 € Industry median: 93 €2021 Company: — Industry median: 269 €20212022 Company: -740 611 € Industry median: 0 €2023 Company: 879 573 € Industry median: 10 €20232024 Company: 1 940 838 € Industry median: 165 €2025 Company: 853 899 € Industry median: 80 €2025
  • Company
  • Industry median

Industry: Activities auxiliary to financial services and insurance activities (the EMTAK division of the main activity). Median: half of the industry is above, half below.

Net profit margin, % 2025: 31.8 % · −56.8 pp vs the year before · industry median 23.7 % · above 55% of the industry
-10001002002017 Company: — Industry median: —20172018 Company: — Industry median: —20182019 Company: 183.6 % Industry median: 28.7 %20192020 Company: 43.8 % Industry median: 24.8 %20202021 Company: — Industry median: 27.0 %20212022 Company: -67.9 % Industry median: 20.8 %20222023 Company: 60.6 % Industry median: 21.6 %20232024 Company: 88.6 % Industry median: 23.7 %20242025 Company: 31.8 % Industry median: 23.7 %2025-10001002002018 Company: — Industry median: —2019 Company: 183.6 % Industry median: 28.7 %20192020 Company: 43.8 % Industry median: 24.8 %2021 Company: — Industry median: 27.0 %20212022 Company: -67.9 % Industry median: 20.8 %2023 Company: 60.6 % Industry median: 21.6 %20232024 Company: 88.6 % Industry median: 23.7 %2025 Company: 31.8 % Industry median: 23.7 %2025
  • Company
  • Industry median

Industry: Activities auxiliary to financial services and insurance activities (the EMTAK division of the main activity). Median: half of the industry is above, half below.

Assets, € thousand 2025: 10 421 876 € · +17.3% vs 2024
02 5005 0007 50010 00012 5002017 Company: —20172018 Company: —20182019 Company: 4 856 545 €20192020 Company: 5 181 574 €20202021 Company: 6 474 219 €20212022 Company: 5 748 645 €20222023 Company: 6 786 408 €20232024 Company: 8 886 244 €20242025 Company: 10 421 876 €202502 5005 0007 50010 00012 5002018 Company: —2019 Company: 4 856 545 €20192020 Company: 5 181 574 €2021 Company: 6 474 219 €20212022 Company: 5 748 645 €2023 Company: 6 786 408 €20232024 Company: 8 886 244 €2025 Company: 10 421 876 €2025
Equity, € thousand 2025: 9 514 998 € · +10.6% vs 2024
02 0004 0006 0008 00010 0002017 Company: —20172018 Company: —20182019 Company: 4 805 105 €20192020 Company: 5 074 570 €20202021 Company: —20212022 Company: 5 599 882 €20222023 Company: 6 479 455 €20232024 Company: 8 599 504 €20242025 Company: 9 514 998 €202502 0004 0006 0008 00010 0002018 Company: —2019 Company: 4 805 105 €20192020 Company: 5 074 570 €2021 Company: —20212022 Company: 5 599 882 €2023 Company: 6 479 455 €20232024 Company: 8 599 504 €2025 Company: 9 514 998 €2025
Employees 2025: 15 · +50.0% vs 2024 · industry median 1 · above 94% of the industry
0510152017 Company: 2 Industry median: —20172018 Company: 2 Industry median: 120182019 Company: 3 Industry median: 120192020 Company: 3 Industry median: 120202021 Company: 5 Industry median: 120212022 Company: 7 Industry median: 120222023 Company: 10 Industry median: 120232024 Company: 10 Industry median: 120242025 Company: 15 Industry median: 120250510152018 Company: 2 Industry median: 12019 Company: 3 Industry median: 120192020 Company: 3 Industry median: 12021 Company: 5 Industry median: 120212022 Company: 7 Industry median: 12023 Company: 10 Industry median: 120232024 Company: 10 Industry median: 12025 Company: 15 Industry median: 12025
  • Company
  • Industry median

Industry: Activities auxiliary to financial services and insurance 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 2 687 909 853 899 908 884 10 421 876 9 514 998 15
2024 2 191 358 1 940 838 962 955 8 886 244 8 599 504 10
2023 1 450 801 879 573 593 750 6 786 408 6 479 455 10
2022 1 090 068 -740 611 387 784 5 748 645 5 599 882 7
2021 973 809 — — 6 474 219 — 5
2020 615 472 269 465 179 175 5 181 574 5 074 570 3
2019 359 971 660 728 121 168 4 856 545 4 805 105 3
2018 — — — — — 2
2017 — — — — — 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
31.8 %
Net profit / revenue
Return on equity (ROE)
9.0 %
Net profit / equity
Return on assets (ROA)
8.2 %
Net profit / assets
Equity ratio
91.3 %
Equity / assets
Debt ratio
8.7 %
Liabilities / assets
Current ratio
1.85
Current assets / current liabilities
Revenue per employee
179 194 €
Revenue / average full-time employees
Labour cost per employee per month
5 049 €
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 Apr 2026 Company’s own · audited e-Äriregister
2024 1 Jan 2024 – 31 Dec 2024 10 Apr 2025 Company’s own · audited e-Äriregister
2023 1 Jan 2023 – 31 Dec 2023 26 Mar 2024 Company’s own · audited e-Äriregister
2022 1 Jan 2022 – 31 Dec 2022 20 Mar 2023 Company’s own · audited e-Äriregister
2021 1 Jan 2021 – 31 Dec 2021 16 Jun 2022 Company’s own · audited e-Äriregister
2020 1 Jan 2020 – 31 Dec 2020 25 Mar 2021 Company’s own · audited e-Äriregister
2019 1 Jan 2019 – 31 Dec 2019 18 Mar 2020 Company’s own · audited e-Äriregister

Board

  • Nasdaq CSD SE
    Keeper of the share ledger · since 28 Sep 2017
  • Tõnu Pekk
    Board member · since 22 Sep 2016
  • Erko Risthein
    Board member · since 22 Mar 2023
  • Maria Suurna
    Board member · since 29 May 2025

Right of representation

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

Owners

No owner information.

Beneficial owners

  • Indrek Kasela
    Member of a senior management body (management or supervisory board) · since 31 May 2025
  • Johanna Ambre
    Member of a senior management body (management or supervisory board) · since 31 May 2025
  • Kadri Lainas
    Member of a senior management body (management or supervisory board) · since 31 May 2025
  • Kirti Rebane
    Member of a senior management body (management or supervisory board) · since 31 May 2025
  • Kristi Saare
    Member of a senior management body (management or supervisory board) · since 31 May 2025
  • Kristo Käärmann
    Member of a senior management body (management or supervisory board) · since 31 May 2025
  • Loit Linnupõld
    Member of a senior management body (management or supervisory board) · since 31 May 2025
  • Marit Finnie
    Member of a senior management body (management or supervisory board) · since 31 May 2025
  • Priit Lepasepp
    Member of a senior management body (management or supervisory board) · since 31 May 2025
  • Riin Mäesalu
    Member of a senior management body (management or supervisory board) · since 31 May 2025

Founders and other persons

shared board members, owners or beneficial owners

Activities (EMTAK)

  • 66301Fund management activities Main

Rulings 23

All rulings (PDF)
Rulings
Number, date Title Deadline State Document
Ä 50037610 / 19
1 Oct 2026
 Amendment entry In force
1 Oct 2026
 PDF
Ä 50037610 / 18
17 Sep 2025
 Amendment entry In force
17 Sep 2025
 PDF
Ä 50037610 / 17
29 May 2025
 Amendment entry In force
29 May 2025
 PDF
Ä 50037610 / 16
18 Mar 2025
 Amendment entry In force
18 Mar 2025
 PDF
Ä 50037610 / 15
18 Feb 2025
 Amendment entry In force
18 Feb 2025
 PDF
Ä 50037610 / 14
16 Dec 2024
 Amendment entry In force
16 Dec 2024
 PDF
Ä 50037610 / M4
12 Dec 2024
 Ruling to eliminate deficiencies 26 Dec 2024 Deficiencies eliminated
16 Dec 2024
 PDF
Ä 50037610 / 13
30 Nov 2023
 Amendment entry In force
30 Nov 2023
 PDF
Ä 50037610 / 12
22 Nov 2023
 Amendment entry In force
22 Nov 2023
 PDF
Ä 50037610 / 11
12 Jul 2023
 Amendment entry In force
12 Jul 2023
 PDF
Ä 50037610 / 10
22 Mar 2023
 Amendment entry In force
22 Mar 2023
 PDF
Ä 50037610 / 9
17 Jan 2020
 Amendment entry In force
17 Jan 2020
 PDF
Ä 50037610 / 8
16 Sep 2019
 Amendment entry In force
16 Sep 2019
 PDF
Ä 50037610 / 7
27 Mar 2019
 Amendment entry In force
27 Mar 2019
 PDF
Ä 50037610 / 6
19 Jan 2018
 Amendment entry In force
19 Jan 2018
 PDF
Ä 50037610 / 5
8 Nov 2017
 Amendment entry In force
8 Nov 2017
 PDF
Ä 50037610 / M3
31 Oct 2017
 Ruling to eliminate deficiencies 30 Nov 2017 Deficiencies eliminated
8 Nov 2017
 PDF
Ä 50037610 / 4
28 Sep 2017
 Amendment entry In force
28 Sep 2017
 PDF
Ä 50037610 / 3
14 Feb 2017
 Amendment entry In force
14 Feb 2017
 PDF
Ä 50037610 / 2
27 Dec 2016
 Amendment entry In force
27 Dec 2016
 PDF
Ä 50037610 / M2
9 Dec 2016
 Ruling to eliminate deficiencies 8 Jan 2017 Deficiencies eliminated
27 Dec 2016
 PDF
Ä 50037610
22 Sep 2016
 First entry In force
22 Sep 2016
 PDF
Ä 50037610 / M1
21 Sep 2016
 Ruling to eliminate deficiencies 21 Oct 2016 Deficiencies eliminated
22 Sep 2016
 PDF

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