Lopen Maa ja Vesirakenne Oy is a limited company based in Riihimäki, registered in 2000. In the financial year ending 30.4.2026, revenue was 2,6 M€ and operating profit -751 t€; equity ratio 72.9 %. Its taxable income in 2024 was 462 t€ and its income taxes 94 t€. Public buyers bought 585 t€ from it in 2022–2026; the largest buyer is Työllisyys, kehittämis- ja hallintokeskus (Työ- ja elinkeinoministeriön hallinnonala).
Revenue 20262,6 M€-30 % on the previous year
Operating profit-751 t€-28,7 % of revenue
Net profit-788 t€EBITDA -1,2 M€
Equity ratio72,9 %quick ratio 0,97
Taxable income 2024462 t€
top 10 % of its industry
Income taxes 202494 t€512 t€ in 2020–2024
In business26 yrsregistered 7.7.2000
Sales to public buyers585 t€2022–2026
Financials
RevenueOperating profitNet profit
| Key figures | 30.4.2026 | 30.4.2025 | 30.4.2024 | 30.4.2023 | 30.4.2022 | 30.4.2021 |
|---|---|---|---|---|---|---|
| Revenue | 2,6 M€ | 3,7 M€ | 4,0 M€ | 4,4 M€ | 4,2 M€ | 4,6 M€ |
| Revenue change | -30,0 % | -7,0 % | -7,7 % | 3,5 % | -8,2 % | – |
| EBITDA | -1,2 M€ | 880 t€ | 1,1 M€ | 1,4 M€ | 1,1 M€ | 1,2 M€ |
| EBITDA % | -46,7 % | 23,6 % | 27,4 % | 31,1 % | 26,9 % | 25,2 % |
| Operating profit | -751 t€ | 401 t€ | 501 t€ | 645 t€ | 484 t€ | 559 t€ |
| Operating margin | -28,7 % | 10,7 % | 12,5 % | 14,8 % | 11,5 % | 12,2 % |
| Net profit | -788 t€ | 295 t€ | 369 t€ | 493 t€ | 372 t€ | 433 t€ |
| Personnel costs | -627 t€ | 630 t€ | 519 t€ | 663 t€ | 574 t€ | 512 t€ |
| Equity ratio | 72,9 % | 76,0 % | 73,1 % | 67,5 % | 71,7 % | 71,9 % |
| Quick ratio | 0,97 | 2,04 | 3,46 | 2,53 | 2,57 | 2,22 |
| Current ratio | 1,03 | 2,11 | 3,62 | 2,62 | 2,70 | 2,41 |
| Debt to revenue | 42,5 % | 31,9 % | 34,6 % | 41,0 % | 32,7 % | 28,9 % |
| Return on equity | -26,4 % | 7,8 % | 9,8 % | 13,3 % | 10,7 % | 12,8 % |
| Balance sheet total | 4,1 M€ | 5,0 M€ | 5,2 M€ | 5,5 M€ | 4,9 M€ | 4,7 M€ |
| Equity | 3,0 M€ | 3,8 M€ | 3,8 M€ | 3,7 M€ | 3,5 M€ | 3,4 M€ |
| Cash and bank | 301 t€ | 1,1 M€ | 1,8 M€ | 1,6 M€ | 1,3 M€ | 1,3 M€ |
Balance sheet
Balance sheet totalEquityCash
Income statement and balance sheet
Income statement
| 30.4.2026 | 30.4.2025 | 30.4.2024 | 30.4.2023 | 30.4.2022 | 30.4.2021 | |
|---|---|---|---|---|---|---|
| Turnover | 2,6 M€ | 3,7 M€ | 4,0 M€ | 4,4 M€ | 4,2 M€ | 4,6 M€ |
| Other operating income | 16 t€ | 14 t€ | 6 946 € | 30 t€ | 45 t€ | 19 t€ |
| Raw materials and services | 1,6 M€ | -1,6 M€ | -1,8 M€ | -1,9 M€ | -2,0 M€ | -2,3 M€ |
| Personnel expenses | 627 t€ | -630 t€ | -519 t€ | -663 t€ | -574 t€ | -512 t€ |
| Depreciations and reductions in value | 470 t€ | -480 t€ | -601 t€ | -711 t€ | -648 t€ | -595 t€ |
| Other operating expenses | 699 t€ | -679 t€ | -644 t€ | -512 t€ | -535 t€ | -654 t€ |
| Operating profit (loss) | -751 t€ | 401 t€ | 501 t€ | 645 t€ | 484 t€ | 559 t€ |
| Financial income and expenses + (-) | 37 t€ | -31 t€ | -39 t€ | -26 t€ | -19 t€ | -17 t€ |
| Profit (loss) before appropriations and taxes | -788 t€ | 370 t€ | 462 t€ | 619 t€ | 465 t€ | 541 t€ |
| Income taxes | 0 € | -74 t€ | -92 t€ | -126 t€ | -93 t€ | -108 t€ |
| Profit (loss) for the financial year | -788 t€ | 295 t€ | 369 t€ | 493 t€ | 372 t€ | 433 t€ |
Balance sheet
| 30.4.2026 | 30.4.2025 | 30.4.2024 | 30.4.2023 | 30.4.2022 | 30.4.2021 | |
|---|---|---|---|---|---|---|
| Non-current assets | 3,3 M€ | 3,4 M€ | 2,9 M€ | 3,1 M€ | 2,9 M€ | 2,7 M€ |
| Stocks | 43 t€ | 53 t€ | 100 t€ | 78 t€ | 97 t€ | 151 t€ |
| Receivables | 408 t€ | 483 t€ | 438 t€ | 688 t€ | 558 t€ | 544 t€ |
| Cash in hand and at banks | 301 t€ | 1,1 M€ | 1,8 M€ | 1,6 M€ | 1,3 M€ | 1,3 M€ |
| Current assets | 752 t€ | 1,6 M€ | 2,3 M€ | 2,4 M€ | 2,0 M€ | 2,0 M€ |
| Assets | 4,1 M€ | 5,0 M€ | 5,2 M€ | 5,5 M€ | 4,9 M€ | 4,7 M€ |
| Share capital or other similar capital | 8 000 € | 8 000 € | 8 000 € | 8 000 € | 8 000 € | 8 000 € |
| Capital and reserves | 3,0 M€ | 3,8 M€ | 3,8 M€ | 3,7 M€ | 3,5 M€ | 3,4 M€ |
| Long-term liabilities | 379 t€ | 431 t€ | 755 t€ | 878 t€ | 637 t€ | 497 t€ |
| Short-term liabilities | 733 t€ | 762 t€ | 636 t€ | 905 t€ | 736 t€ | 824 t€ |
| Liabilities | 1,1 M€ | 1,2 M€ | 1,4 M€ | 1,8 M€ | 1,4 M€ | 1,3 M€ |
All financial statement items (56)
| 30.4.2026 | 30.4.2025 | 30.4.2024 | 30.4.2023 | 30.4.2022 | 30.4.2021 | |
|---|---|---|---|---|---|---|
| Turnover | 2,6 M€ | 3,7 M€ | 4,0 M€ | 4,4 M€ | 4,2 M€ | 4,6 M€ |
| Other operating income | 16 t€ | 14 t€ | 6 946 € | 30 t€ | 45 t€ | 19 t€ |
| Raw materials and services | 1,6 M€ | -1,6 M€ | -1,8 M€ | -1,9 M€ | -2,0 M€ | -2,3 M€ |
| Personnel expenses | 627 t€ | -630 t€ | -519 t€ | -663 t€ | -574 t€ | -512 t€ |
| Depreciations and reductions in value | 470 t€ | -480 t€ | -601 t€ | -711 t€ | -648 t€ | -595 t€ |
| Other operating expenses | 699 t€ | -679 t€ | -644 t€ | -512 t€ | -535 t€ | -654 t€ |
| Operating profit (loss) | -751 t€ | 401 t€ | 501 t€ | 645 t€ | 484 t€ | 559 t€ |
| Financial income and expenses + (-) | 37 t€ | -31 t€ | -39 t€ | -26 t€ | -19 t€ | -17 t€ |
| Profit (loss) before appropriations and taxes | -788 t€ | 370 t€ | 462 t€ | 619 t€ | 465 t€ | 541 t€ |
| Income taxes | 0 € | -74 t€ | -92 t€ | -126 t€ | -93 t€ | -108 t€ |
| Profit (loss) for the financial year | -788 t€ | 295 t€ | 369 t€ | 493 t€ | 372 t€ | 433 t€ |
| Non-current assets | 3,3 M€ | 3,4 M€ | 2,9 M€ | 3,1 M€ | 2,9 M€ | 2,7 M€ |
| Stocks | 43 t€ | 53 t€ | 100 t€ | 78 t€ | 97 t€ | 151 t€ |
| Receivables | 408 t€ | 483 t€ | 438 t€ | 688 t€ | 558 t€ | 544 t€ |
| Cash in hand and at banks | 301 t€ | 1,1 M€ | 1,8 M€ | 1,6 M€ | 1,3 M€ | 1,3 M€ |
| Current assets | 752 t€ | 1,6 M€ | 2,3 M€ | 2,4 M€ | 2,0 M€ | 2,0 M€ |
| Assets | 4,1 M€ | 5,0 M€ | 5,2 M€ | 5,5 M€ | 4,9 M€ | 4,7 M€ |
| Share capital or other similar capital | 8 000 € | 8 000 € | 8 000 € | 8 000 € | 8 000 € | 8 000 € |
| Capital and reserves | 3,0 M€ | 3,8 M€ | 3,8 M€ | 3,7 M€ | 3,5 M€ | 3,4 M€ |
| Long-term liabilities | 379 t€ | 431 t€ | 755 t€ | 878 t€ | 637 t€ | 497 t€ |
| Short-term liabilities | 733 t€ | 762 t€ | 636 t€ | 905 t€ | 736 t€ | 824 t€ |
| Liabilities | 1,1 M€ | 1,2 M€ | 1,4 M€ | 1,8 M€ | 1,4 M€ | 1,3 M€ |
| Other short-term receivables | 48 t€ | 19 t€ | 18 t€ | 92 t€ | 30 t€ | 29 t€ |
| Short-term sales receivables | 335 t€ | 402 t€ | 385 t€ | 521 t€ | 509 t€ | 499 t€ |
| Long-term liabilities to credit institutions | 379 t€ | 431 t€ | 755 t€ | 878 t€ | 637 t€ | 198 t€ |
| Tangible assets | 2,4 M€ | 2,5 M€ | 2,7 M€ | 3,0 M€ | 2,7 M€ | 2,6 M€ |
| Depreciations according to plan | 470 t€ | -480 t€ | -601 t€ | -711 t€ | -648 t€ | -595 t€ |
| Profit (loss) for the period, equity | -788 t€ | 295 t€ | 369 t€ | 493 t€ | 372 t€ | 433 t€ |
| Retained earnings | 3,8 M€ | 3,5 M€ | 3,4 M€ | 3,2 M€ | 3,1 M€ | 2,9 M€ |
| Investments | 902 t€ | 902 t€ | 140 t€ | 140 t€ | 140 t€ | 140 t€ |
| Short-term prepayments and accrued income | 24 t€ | 60 t€ | 34 t€ | 76 t€ | 19 t€ | 17 t€ |
| Short-term accounts payable | 267 t€ | 100 t€ | 153 t€ | 165 t€ | 179 t€ | 246 t€ |
| Other shares and similar rights of ownership | 140 t€ | 140 t€ | 140 t€ | 140 t€ | 140 t€ | 140 t€ |
| Long-term premium loans from employee pension institutions | – | – | – | – | 0 € | 299 t€ |
| Materials and supplies | 43 t€ | 53 t€ | 100 t€ | 78 t€ | 97 t€ | 151 t€ |
| Shares and similar rights of ownership in subsidiaries | 761 t€ | 761 t€ | 0 € | – | – | – |
| Other tangible assets | 44 t€ | 44 t€ | 44 t€ | 44 t€ | 44 t€ | 44 t€ |
| Short-term receivables | 408 t€ | 483 t€ | 438 t€ | 688 t€ | 558 t€ | 544 t€ |
| Inventory increase (+) or decrease (-) | 10 t€ | -47 t€ | 21 t€ | -19 t€ | -54 t€ | 90 t€ |
| Machinery and equipment | 1,3 M€ | 1,3 M€ | 1,7 M€ | 2,0 M€ | 1,9 M€ | 1,7 M€ |
| Interest expenses and other financial expenses for non-Group companies | 38 t€ | -32 t€ | -40 t€ | -27 t€ | -19 t€ | -17 t€ |
| Short-term loan receivables | 0 € | 2 000 € | 0 € | – | – | – |
| Other interest and financial income from non-group companies | 989 € | 912 € | 581 € | 237 € | 145 € | 53 € |
| Purchases during the financial year | 887 t€ | -639 t€ | -949 t€ | -882 t€ | -1,2 M€ | -1,4 M€ |
| Wages and salaries | 492 t€ | -514 t€ | -417 t€ | -562 t€ | -471 t€ | -420 t€ |
| Land and water areas, Owned | 315 t€ | 315 t€ | 315 t€ | 300 t€ | 296 t€ | 296 t€ |
| Buildings and structures, Owned | 751 t€ | 719 t€ | 678 t€ | 597 t€ | 485 t€ | 496 t€ |
| Services purchased | 690 t€ | -874 t€ | -831 t€ | -951 t€ | -737 t€ | -1,0 M€ |
| Pension expenses | 114 t€ | -97 t€ | -85 t€ | -84 t€ | -83 t€ | -72 t€ |
| Other social security expenses | 21 t€ | -19 t€ | -16 t€ | -17 t€ | -20 t€ | -20 t€ |
| Short-term liabilities to credit institutions | 298 t€ | 324 t€ | 325 t€ | 373 t€ | 337 t€ | 329 t€ |
| Advance payments and construction in progress | 23 t€ | 45 t€ | 0 € | 8 200 € | 0 € | – |
| Other current liabilities | 95 t€ | 243 t€ | 78 t€ | 287 t€ | 144 t€ | 189 t€ |
| Liabilities | 4,1 M€ | 5,0 M€ | 5,2 M€ | 5,5 M€ | 4,9 M€ | 4,7 M€ |
| Short-term accrued expenses and deferred income | 73 t€ | 95 t€ | 79 t€ | 80 t€ | 77 t€ | 60 t€ |
| Income from shares in participating interests | – | 0 € | 1 000 € | 500 € | 200 € | 0 € |
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
Measured by taxable income, Lopen Maa ja Vesirakenne Oy is in the top 10 % of the industry class site preparation (1576 companies with taxable income; median 36 t€, 13 times the median).
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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