Veljekset Karjalainen Oy is a limited company based in Pelkosenniemi, registered in 1980. In the financial year ending 31.12.2025, revenue was 838 t€ and operating profit 217 t€; equity ratio -187.6 %. Public buyers bought 408 t€ from it in 2022–2023; the largest buyer is Työllisyys, kehittämis- ja hallintokeskus (Työ- ja elinkeinoministeriön hallinnonala). Latest Trade Register entry: bankruptcy, 4.8.2026.
Revenue 2025838 t€-26 % on the previous year
Operating profit217 t€25,9 % of revenue
Net profit159 t€EBITDA 199 t€
Equity ratio-187,6 %quick ratio 0,14
Taxable income 20240 €
profit as taxed
Income taxes 20240 €0 € in 2020–2024
In business46 yrsregistered 31.10.1980
Sales to public buyers408 t€2022–2023
Trade Register1entries, latest: bankruptcy
Financials
RevenueOperating profitNet profit
| Key figures | 31.12.2025 | 31.12.2024 | 31.12.2023 | 30.9.2021 | 30.9.2020 |
|---|---|---|---|---|---|
| Revenue | 838 t€ | 1,1 M€ | 878 t€ | 2,4 M€ | 3,7 M€ |
| Revenue change | -25,7 % | 28,5 % | -63,7 % | -33,9 % | – |
| EBITDA | 199 t€ | -84 t€ | -364 t€ | 132 t€ | 703 t€ |
| EBITDA % | 23,8 % | -7,4 % | -41,5 % | 5,4 % | 19,2 % |
| Operating profit | 217 t€ | -130 t€ | -418 t€ | 55 t€ | 661 t€ |
| Operating margin | 25,9 % | -11,5 % | -47,6 % | 2,3 % | 18,1 % |
| Net profit | 159 t€ | -144 t€ | -448 t€ | 30 t€ | 615 t€ |
| Personnel costs | -416 t€ | 426 t€ | 388 t€ | 752 t€ | 1,0 M€ |
| Equity ratio | -187,6 % | -160,9 % | -134,2 % | 19,3 % | 14,7 % |
| Quick ratio | 0,14 | 0,07 | 0,09 | 0,52 | 0,82 |
| Current ratio | 0,39 | 0,24 | 0,24 | 0,92 | 1,07 |
| Debt to revenue | 147,3 % | 132,0 % | 153,3 % | 40,1 % | 32,2 % |
| Return on equity | – | – | – | 13,1 % | 304,8 % |
| Balance sheet total | 429 t€ | 571 t€ | 574 t€ | 1,2 M€ | 1,4 M€ |
| Equity | -805 t€ | -918 t€ | -771 t€ | 232 t€ | 202 t€ |
| Cash and bank | 40 t€ | 7 873 € | 1 047 € | 2 288 € | 11 t€ |
Balance sheet
Balance sheet totalEquityCash
Income statement and balance sheet
Income statement
| 31.12.2025 | 31.12.2024 | 31.12.2023 | 30.9.2021 | 30.9.2020 | |
|---|---|---|---|---|---|
| Turnover | 838 t€ | 1,1 M€ | 878 t€ | 2,4 M€ | 3,7 M€ |
| Other operating income | 417 t€ | 14 t€ | 10 t€ | 35 t€ | 121 t€ |
| Raw materials and services | 440 t€ | -473 t€ | -578 t€ | -1,2 M€ | -1,5 M€ |
| Personnel expenses | 416 t€ | -426 t€ | -388 t€ | -752 t€ | -1,0 M€ |
| Depreciations and reductions in value | 18 t€ | -46 t€ | -53 t€ | -76 t€ | -42 t€ |
| Other operating expenses | 164 t€ | -326 t€ | -287 t€ | -412 t€ | -561 t€ |
| Operating profit (loss) | 217 t€ | -130 t€ | -418 t€ | 55 t€ | 661 t€ |
| Financial income and expenses + (-) | 58 t€ | -14 t€ | -30 t€ | -25 t€ | -46 t€ |
| Profit (loss) before appropriations and taxes | 159 t€ | -144 t€ | -448 t€ | 30 t€ | 615 t€ |
| Profit (loss) for the financial year | 159 t€ | -144 t€ | -448 t€ | 30 t€ | 615 t€ |
Balance sheet
| 31.12.2025 | 31.12.2024 | 31.12.2023 | 30.9.2021 | 30.9.2020 | |
|---|---|---|---|---|---|
| Non-current assets | 154 t€ | 239 t€ | 269 t€ | 398 t€ | 280 t€ |
| Stocks | 176 t€ | 239 t€ | 192 t€ | 354 t€ | 254 t€ |
| Receivables | 59 t€ | 84 t€ | 113 t€ | 447 t€ | 831 t€ |
| Cash in hand and at banks | 40 t€ | 7 873 € | 1 047 € | 2 288 € | 11 t€ |
| Current assets | 275 t€ | 332 t€ | 305 t€ | 804 t€ | 1,1 M€ |
| Assets | 429 t€ | 571 t€ | 574 t€ | 1,2 M€ | 1,4 M€ |
| Share capital or other similar capital | 15 t€ | 15 t€ | 15 t€ | 15 t€ | 15 t€ |
| Capital and reserves | -805 t€ | -918 t€ | -771 t€ | 232 t€ | 202 t€ |
| Long-term liabilities | 519 t€ | 80 t€ | 53 t€ | 100 t€ | 146 t€ |
| Short-term liabilities | 715 t€ | 1,4 M€ | 1,3 M€ | 869 t€ | 1,0 M€ |
| Liabilities | 1,2 M€ | 1,5 M€ | 1,3 M€ | 969 t€ | 1,2 M€ |
All financial statement items (55)
| 31.12.2025 | 31.12.2024 | 31.12.2023 | 30.9.2021 | 30.9.2020 | |
|---|---|---|---|---|---|
| Turnover | 838 t€ | 1,1 M€ | 878 t€ | 2,4 M€ | 3,7 M€ |
| Other operating income | 417 t€ | 14 t€ | 10 t€ | 35 t€ | 121 t€ |
| Raw materials and services | 440 t€ | -473 t€ | -578 t€ | -1,2 M€ | -1,5 M€ |
| Personnel expenses | 416 t€ | -426 t€ | -388 t€ | -752 t€ | -1,0 M€ |
| Depreciations and reductions in value | 18 t€ | -46 t€ | -53 t€ | -76 t€ | -42 t€ |
| Other operating expenses | 164 t€ | -326 t€ | -287 t€ | -412 t€ | -561 t€ |
| Operating profit (loss) | 217 t€ | -130 t€ | -418 t€ | 55 t€ | 661 t€ |
| Financial income and expenses + (-) | 58 t€ | -14 t€ | -30 t€ | -25 t€ | -46 t€ |
| Profit (loss) before appropriations and taxes | 159 t€ | -144 t€ | -448 t€ | 30 t€ | 615 t€ |
| Profit (loss) for the financial year | 159 t€ | -144 t€ | -448 t€ | 30 t€ | 615 t€ |
| Non-current assets | 154 t€ | 239 t€ | 269 t€ | 398 t€ | 280 t€ |
| Stocks | 176 t€ | 239 t€ | 192 t€ | 354 t€ | 254 t€ |
| Receivables | 59 t€ | 84 t€ | 113 t€ | 447 t€ | 831 t€ |
| Cash in hand and at banks | 40 t€ | 7 873 € | 1 047 € | 2 288 € | 11 t€ |
| Current assets | 275 t€ | 332 t€ | 305 t€ | 804 t€ | 1,1 M€ |
| Assets | 429 t€ | 571 t€ | 574 t€ | 1,2 M€ | 1,4 M€ |
| Share capital or other similar capital | 15 t€ | 15 t€ | 15 t€ | 15 t€ | 15 t€ |
| Capital and reserves | -805 t€ | -918 t€ | -771 t€ | 232 t€ | 202 t€ |
| Long-term liabilities | 519 t€ | 80 t€ | 53 t€ | 100 t€ | 146 t€ |
| Short-term liabilities | 715 t€ | 1,4 M€ | 1,3 M€ | 869 t€ | 1,0 M€ |
| Liabilities | 1,2 M€ | 1,5 M€ | 1,3 M€ | 969 t€ | 1,2 M€ |
| Other current liabilities | 393 t€ | 649 t€ | 526 t€ | 469 t€ | 633 t€ |
| Other receivables (investments) | 2 174 € | 2 174 € | 2 174 € | 2 174 € | 2 174 € |
| Liabilities | 429 t€ | 571 t€ | 574 t€ | 1,2 M€ | 1,4 M€ |
| Long-term liabilities to credit institutions | 0 € | 80 t€ | 53 t€ | 100 t€ | 146 t€ |
| Reserve for invested non-restricted equity | 50 t€ | 50 t€ | 50 t€ | – | – |
| Short-term receivables | 59 t€ | 84 t€ | 113 t€ | 447 t€ | 831 t€ |
| Other short-term receivables | 37 t€ | 42 t€ | 54 t€ | 34 t€ | 91 t€ |
| Land and water areas, Owned | 66 t€ | 66 t€ | 66 t€ | 66 t€ | 66 t€ |
| Other interest and financial income from non-group companies | – | – | – | 3 200 € | 38 € |
| Finished products | 140 t€ | 120 t€ | 130 t€ | 228 t€ | 221 t€ |
| Long-term accounts payable | 519 t€ | 0 € | – | – | – |
| Machinery and equipment | 45 t€ | 127 t€ | 150 t€ | 271 t€ | 106 t€ |
| Share premium reserve | 289 € | 289 € | 289 € | 289 € | 289 € |
| Retained earnings | -1,0 M€ | -839 t€ | -389 t€ | 187 t€ | -429 t€ |
| Short-term accounts payable | 200 t€ | 640 t€ | 617 t€ | 152 t€ | 155 t€ |
| Wages and salaries | 325 t€ | -336 t€ | -298 t€ | -625 t€ | -847 t€ |
| Other shares and similar rights of ownership | – | 0 € | 4 280 € | 4 280 € | 4 280 € |
| Short-term sales receivables | 17 t€ | 41 t€ | 55 t€ | 348 t€ | 738 t€ |
| Profit (loss) for the period, equity | 159 t€ | -144 t€ | -448 t€ | 30 t€ | 615 t€ |
| Interest expenses and other financial expenses for non-Group companies | 58 t€ | -14 t€ | -30 t€ | -28 t€ | -47 t€ |
| Pension expenses | 67 t€ | -73 t€ | -62 t€ | -101 t€ | -145 t€ |
| Short-term prepayments and accrued income | 5 430 € | 2 320 € | 3 745 € | 66 t€ | 1 930 € |
| Buildings and structures, Owned | 40 t€ | 43 t€ | 46 t€ | 54 t€ | 101 t€ |
| Other social security expenses | 23 t€ | -18 t€ | -28 t€ | -26 t€ | -27 t€ |
| Services purchased | 33 t€ | -33 t€ | -185 t€ | -475 t€ | -496 t€ |
| Income from other investments under non-current assets, from other companies | – | 0 € | 628 € | 425 € | 775 € |
| Purchases during the financial year | 344 t€ | -488 t€ | -356 t€ | -779 t€ | -964 t€ |
| Tangible assets | 151 t€ | 237 t€ | 263 t€ | 391 t€ | 274 t€ |
| Materials and supplies | 36 t€ | 119 t€ | 62 t€ | 126 t€ | 33 t€ |
| Short-term liabilities to credit institutions | – | 0 € | 30 t€ | 52 t€ | 44 t€ |
| Depreciations according to plan | 18 t€ | -46 t€ | -53 t€ | -76 t€ | -42 t€ |
| Short-term accrued expenses and deferred income | 121 t€ | 119 t€ | 120 t€ | 195 t€ | 195 t€ |
| Investments | 2 174 € | 2 174 € | 6 454 € | 6 454 € | 6 454 € |
| Inventory increase (+) or decrease (-) | 63 t€ | 48 t€ | -36 t€ | 100 t€ | -30 t€ |
From financial statements filed digitally (XBRL) with the Finnish Patent and Registration Office; ratios calculated from them. Equity ratio = (equity + accumulated appropriations) / (balance sheet total − advances received).
Taxes
Taxable income is the profit as calculated for taxation, not revenue. Public data from the Finnish Tax Administration; figures for 2025 are published in November 2026.
Sales to public buyers
Largest buyers
Trade Register events
- Bankruptcy
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