Merineule Oy is a limited company based in Kustavi, registered in 1983. In the financial year ending 28.2.2026, revenue was 146 t€ and operating profit -3 722 €; equity ratio 41.4 %. Public buyers bought 4 559 € from it in 2024–2025; the largest buyer is Rikosseuraamuslaitos (Oikeusministeriön hallinnonala).
Revenue 2026146 t€-11 % on the previous year
Operating profit-3 722 €-2,5 % of revenue
Net profit-5 104 €EBITDA -4 298 €
Equity ratio41,4 %quick ratio 0,15
Taxable income 20240 €
profit as taxed
Income taxes 20240 €2 679 € in 2020–2024
In business43 yrsregistered 20.1.1983
Sales to public buyers4 559 €2024–2025
Financials
RevenueOperating profitNet profit
| Key figures | 28.2.2026 | 28.2.2025 | 29.2.2024 | 28.2.2023 | 28.2.2022 | 28.2.2021 |
|---|---|---|---|---|---|---|
| Revenue | 146 t€ | 165 t€ | 163 t€ | 186 t€ | 194 t€ | 173 t€ |
| Revenue change | -11,1 % | 1,3 % | -12,4 % | -4,2 % | 11,8 % | – |
| EBITDA | -4 298 € | -19 t€ | -4 819 € | -22 t€ | 14 t€ | 26 t€ |
| EBITDA % | -2,9 % | -11,2 % | -3,0 % | -11,6 % | 7,1 % | 14,8 % |
| Operating profit | -3 722 € | -19 t€ | -5 509 € | -23 t€ | 13 t€ | 24 t€ |
| Operating margin | -2,5 % | -11,7 % | -3,4 % | -12,1 % | 6,5 % | 13,9 % |
| Net profit | -5 104 € | -21 t€ | -6 813 € | -23 t€ | 9 979 € | 23 t€ |
| Personnel costs | -72 t€ | 89 t€ | 86 t€ | 111 t€ | 94 t€ | 62 t€ |
| Equity ratio | 41,4 % | 47,8 % | 59,6 % | 59,0 % | 73,5 % | 88,5 % |
| Quick ratio | 0,15 | 0,18 | 0,43 | 0,50 | 2,42 | 1,03 |
| Current ratio | 2,86 | 3,33 | 4,31 | 3,84 | 9,57 | 8,44 |
| Debt to revenue | 37,7 % | 29,3 % | 27,1 % | 26,9 % | 17,7 % | 6,4 % |
| Return on equity | -13,1 % | -46,9 % | -10,5 % | -32,4 % | 10,5 % | 27,3 % |
| Balance sheet total | 94 t€ | 92 t€ | 109 t€ | 122 t€ | 129 t€ | 96 t€ |
| Equity | 39 t€ | 44 t€ | 65 t€ | 72 t€ | 95 t€ | 85 t€ |
| Cash and bank | 751 € | 1 172 € | 1 154 € | 819 € | 1 315 € | 2 064 € |
Balance sheet
Balance sheet totalEquityCash
Income statement and balance sheet
Income statement
| 28.2.2026 | 28.2.2025 | 29.2.2024 | 28.2.2023 | 28.2.2022 | 28.2.2021 | |
|---|---|---|---|---|---|---|
| Turnover | 146 t€ | 165 t€ | 163 t€ | 186 t€ | 194 t€ | 173 t€ |
| Other operating income | – | 0 € | 1 266 € | 9 685 € | 5 900 € | 7 983 € |
| Raw materials and services | 52 t€ | -62 t€ | -52 t€ | -74 t€ | -62 t€ | -67 t€ |
| Personnel expenses | 72 t€ | -89 t€ | -86 t€ | -111 t€ | -94 t€ | -62 t€ |
| Depreciations and reductions in value | 576 € | -768 € | -690 € | -920 € | -1 227 € | -1 636 € |
| Other operating expenses | 26 t€ | -32 t€ | -30 t€ | -32 t€ | -30 t€ | -27 t€ |
| Operating profit (loss) | -3 722 € | -19 t€ | -5 509 € | -23 t€ | 13 t€ | 24 t€ |
| Financial income and expenses + (-) | 1 382 € | -1 439 € | -1 303 € | -714 € | -172 € | -622 € |
| Profit (loss) before appropriations and taxes | -5 104 € | -21 t€ | -6 812 € | -23 t€ | 12 t€ | 23 t€ |
| Income taxes | – | 0 € | 0 € | 0 € | -2 466 € | -223 € |
| Profit (loss) for the financial year | -5 104 € | -21 t€ | -6 813 € | -23 t€ | 9 979 € | 23 t€ |
Balance sheet
| 28.2.2026 | 28.2.2025 | 29.2.2024 | 28.2.2023 | 28.2.2022 | 28.2.2021 | |
|---|---|---|---|---|---|---|
| Non-current assets | 1 895 € | 2 471 € | 2 239 € | 2 929 € | 3 849 € | 5 076 € |
| Stocks | 88 t€ | 85 t€ | 96 t€ | 103 t€ | 94 t€ | 80 t€ |
| Receivables | 4 158 € | 3 710 € | 9 504 € | 15 t€ | 30 t€ | 9 047 € |
| Cash in hand and at banks | 751 € | 1 172 € | 1 154 € | 819 € | 1 315 € | 2 064 € |
| Current assets | 92 t€ | 90 t€ | 107 t€ | 119 t€ | 125 t€ | 91 t€ |
| Assets | 94 t€ | 92 t€ | 109 t€ | 122 t€ | 129 t€ | 96 t€ |
| Share capital or other similar capital | 17 t€ | 17 t€ | 17 t€ | 17 t€ | 17 t€ | 17 t€ |
| Capital and reserves | 39 t€ | 44 t€ | 65 t€ | 72 t€ | 95 t€ | 85 t€ |
| Long-term liabilities | 23 t€ | 21 t€ | 19 t€ | 19 t€ | 21 t€ | 275 € |
| Short-term liabilities | 32 t€ | 27 t€ | 25 t€ | 31 t€ | 13 t€ | 11 t€ |
| Liabilities | 55 t€ | 48 t€ | 44 t€ | 50 t€ | 34 t€ | 11 t€ |
All financial statement items (50)
| 28.2.2026 | 28.2.2025 | 29.2.2024 | 28.2.2023 | 28.2.2022 | 28.2.2021 | |
|---|---|---|---|---|---|---|
| Turnover | 146 t€ | 165 t€ | 163 t€ | 186 t€ | 194 t€ | 173 t€ |
| Other operating income | – | 0 € | 1 266 € | 9 685 € | 5 900 € | 7 983 € |
| Raw materials and services | 52 t€ | -62 t€ | -52 t€ | -74 t€ | -62 t€ | -67 t€ |
| Personnel expenses | 72 t€ | -89 t€ | -86 t€ | -111 t€ | -94 t€ | -62 t€ |
| Depreciations and reductions in value | 576 € | -768 € | -690 € | -920 € | -1 227 € | -1 636 € |
| Other operating expenses | 26 t€ | -32 t€ | -30 t€ | -32 t€ | -30 t€ | -27 t€ |
| Operating profit (loss) | -3 722 € | -19 t€ | -5 509 € | -23 t€ | 13 t€ | 24 t€ |
| Financial income and expenses + (-) | 1 382 € | -1 439 € | -1 303 € | -714 € | -172 € | -622 € |
| Profit (loss) before appropriations and taxes | -5 104 € | -21 t€ | -6 812 € | -23 t€ | 12 t€ | 23 t€ |
| Income taxes | – | 0 € | 0 € | 0 € | -2 466 € | -223 € |
| Profit (loss) for the financial year | -5 104 € | -21 t€ | -6 813 € | -23 t€ | 9 979 € | 23 t€ |
| Non-current assets | 1 895 € | 2 471 € | 2 239 € | 2 929 € | 3 849 € | 5 076 € |
| Stocks | 88 t€ | 85 t€ | 96 t€ | 103 t€ | 94 t€ | 80 t€ |
| Receivables | 4 158 € | 3 710 € | 9 504 € | 15 t€ | 30 t€ | 9 047 € |
| Cash in hand and at banks | 751 € | 1 172 € | 1 154 € | 819 € | 1 315 € | 2 064 € |
| Current assets | 92 t€ | 90 t€ | 107 t€ | 119 t€ | 125 t€ | 91 t€ |
| Assets | 94 t€ | 92 t€ | 109 t€ | 122 t€ | 129 t€ | 96 t€ |
| Share capital or other similar capital | 17 t€ | 17 t€ | 17 t€ | 17 t€ | 17 t€ | 17 t€ |
| Capital and reserves | 39 t€ | 44 t€ | 65 t€ | 72 t€ | 95 t€ | 85 t€ |
| Long-term liabilities | 23 t€ | 21 t€ | 19 t€ | 19 t€ | 21 t€ | 275 € |
| Short-term liabilities | 32 t€ | 27 t€ | 25 t€ | 31 t€ | 13 t€ | 11 t€ |
| Liabilities | 55 t€ | 48 t€ | 44 t€ | 50 t€ | 34 t€ | 11 t€ |
| Purchases during the financial year | 52 t€ | -48 t€ | -39 t€ | -79 t€ | -76 t€ | -48 t€ |
| Short-term receivables | 4 158 € | 3 710 € | 9 504 € | 15 t€ | 30 t€ | 9 047 € |
| Other short-term receivables | 1 650 € | 1 650 € | 1 920 € | 1 650 € | 1 650 € | 1 650 € |
| Profit (loss) for the period, equity | -5 104 € | -21 t€ | -6 813 € | -23 t€ | 9 979 € | 23 t€ |
| Tangible assets | 1 727 € | 2 303 € | 2 071 € | 2 761 € | 3 681 € | 4 908 € |
| Short-term accrued expenses and deferred income | 4 337 € | 7 458 € | 11 t€ | 15 t€ | 1 291 € | 851 € |
| Interest expenses and other financial expenses for non-Group companies | 1 544 € | -1 481 € | -1 329 € | -760 € | -588 € | -674 € |
| Long-term liabilities to credit institutions | 23 t€ | 21 t€ | 19 t€ | 19 t€ | 21 t€ | 275 € |
| Other shares and similar rights of ownership | 168 € | 168 € | 168 € | 168 € | 168 € | 168 € |
| Other social security expenses | 1 683 € | -1 524 € | -2 056 € | -2 621 € | -2 638 € | -1 788 € |
| Short-term sales receivables | 1 133 € | 885 € | 4 066 € | 7 598 € | 27 t€ | 7 397 € |
| Income from other investments under non-current assets, from other companies | 42 € | 42 € | 24 € | 42 € | 132 € | 42 € |
| Depreciations according to plan | 576 € | -768 € | -690 € | -920 € | -1 227 € | -1 636 € |
| Other current liabilities | 25 t€ | 15 t€ | 8 340 € | 2 501 € | 6 543 € | 4 157 € |
| Inventory increase (+) or decrease (-) | -2 443 € | -11 t€ | -7 212 € | 9 620 € | 14 t€ | -9 694 € |
| Short-term accounts payable | 2 663 € | 4 208 € | 5 639 € | 13 t€ | 5 265 € | 5 769 € |
| Retained earnings | 27 t€ | 48 t€ | 55 t€ | 78 t€ | 68 t€ | 45 t€ |
| Machinery and equipment | 1 673 € | 2 230 € | 1 973 € | 2 631 € | 3 508 € | 4 678 € |
| Wages and salaries | 57 t€ | -72 t€ | -69 t€ | -90 t€ | -75 t€ | -52 t€ |
| Other interest and financial income from non-group companies | 120 € | 0 € | 2 € | 4 € | 283 € | 10 € |
| Investments | 168 € | 168 € | 168 € | 168 € | 168 € | 168 € |
| Other tangible assets | 55 € | 73 € | 97 € | 130 € | 173 € | 230 € |
| Pension expenses | 13 t€ | -15 t€ | -16 t€ | -18 t€ | -15 t€ | -8 174 € |
| Materials and supplies | 16 t€ | 7 959 € | 14 t€ | 30 t€ | 25 t€ | 29 t€ |
| Services purchased | 2 429 € | -3 860 € | -5 550 € | -4 811 € | 0 € | -9 362 € |
| Liabilities | 94 t€ | 92 t€ | 109 t€ | 122 t€ | 129 t€ | 96 t€ |
| Short-term prepayments and accrued income | 1 375 € | 1 176 € | 3 519 € | 5 296 € | 2 105 € | 0 € |
| Finished products | 71 t€ | 77 t€ | 82 t€ | 73 t€ | 69 t€ | 51 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
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