Korvalan Kestikievari Oy is a limited company based in Rovaniemi, registered in 2003. In the financial year ending 31.10.2025, revenue was 352 t€ and operating profit 102 t€; equity ratio 85.7 %. Its taxable income in 2024 was 55 t€ and its income taxes 11 t€. It holds 1 alcohol licences.
Revenue 2025352 t€+20 % on the previous year
Operating profit102 t€28,9 % of revenue
Net profit81 t€EBITDA 87 t€
Equity ratio85,7 %quick ratio 10,82
Taxable income 202455 t€
upper half of its industry
Income taxes 202411 t€26 t€ in 2020–2024
In business22 yrsregistered 12.11.2003
Alcohol licences1latest 16.11.2026
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Financials
RevenueOperating profitNet profit
| Key figures | 31.10.2025 | 31.10.2024 | 31.10.2023 | 31.10.2022 | 31.10.2021 | 31.10.2020 |
|---|---|---|---|---|---|---|
| Revenue | 352 t€ | 293 t€ | 213 t€ | 164 t€ | 42 t€ | 132 t€ |
| Revenue change | 20,1 % | 37,3 % | 30,4 % | 288,1 % | -68,0 % | – |
| EBITDA | 87 t€ | 72 t€ | 86 t€ | 51 t€ | -13 t€ | 6 354 € |
| EBITDA % | 24,6 % | 24,6 % | 40,4 % | 31,0 % | -31,8 % | 4,8 % |
| Operating profit | 102 t€ | 55 t€ | 72 t€ | 37 t€ | -28 t€ | -10 t€ |
| Operating margin | 28,9 % | 18,9 % | 33,7 % | 22,7 % | -66,1 % | -7,9 % |
| Net profit | 81 t€ | 44 t€ | 58 t€ | 37 t€ | -28 t€ | -10 t€ |
| Personnel costs | -80 t€ | 66 t€ | 25 t€ | 28 t€ | 20 t€ | 49 t€ |
| Equity ratio | 85,7 % | 78,3 % | 75,2 % | 73,8 % | 69,1 % | 75,6 % |
| Quick ratio | 10,82 | 10,48 | 7,36 | 18,18 | 9,70 | 16,01 |
| Current ratio | 10,82 | 10,48 | 7,36 | 18,29 | 9,70 | 16,01 |
| Debt to revenue | 14,5 % | 23,9 % | 35,3 % | 36,9 % | 141,6 % | 46,3 % |
| Return on equity | 26,5 % | 17,3 % | 25,3 % | 21,7 % | -20,9 % | -5,5 % |
| Balance sheet total | 358 t€ | 324 t€ | 304 t€ | 231 t€ | 193 t€ | 251 t€ |
| Equity | 307 t€ | 254 t€ | 228 t€ | 170 t€ | 133 t€ | 190 t€ |
| Cash and bank | 210 t€ | 164 t€ | 153 t€ | 78 t€ | 22 t€ | 79 t€ |
Balance sheet
Balance sheet totalEquityCash
Income statement and balance sheet
Income statement
| 31.10.2025 | 31.10.2024 | 31.10.2023 | 31.10.2022 | 31.10.2021 | 31.10.2020 | |
|---|---|---|---|---|---|---|
| Turnover | 352 t€ | 293 t€ | 213 t€ | 164 t€ | 42 t€ | 132 t€ |
| Other operating income | – | 0 € | 2 818 € | 0 € | 30 t€ | 5 402 € |
| Raw materials and services | 49 t€ | -57 t€ | -50 t€ | -25 t€ | -17 t€ | -30 t€ |
| Personnel expenses | 80 t€ | -66 t€ | -25 t€ | -28 t€ | -20 t€ | -49 t€ |
| Depreciations and reductions in value | 15 t€ | -17 t€ | -14 t€ | -14 t€ | -14 t€ | -17 t€ |
| Other operating expenses | 106 t€ | -98 t€ | -56 t€ | -60 t€ | -49 t€ | -52 t€ |
| Operating profit (loss) | 102 t€ | 55 t€ | 72 t€ | 37 t€ | -28 t€ | -10 t€ |
| Financial income and expenses + (-) | 34 € | -537 € | -84 € | -68 € | -30 € | -6 € |
| Profit (loss) before appropriations and taxes | 102 t€ | 55 t€ | 72 t€ | 37 t€ | -28 t€ | -10 t€ |
| Income taxes | 20 t€ | -11 t€ | -14 t€ | 0 € | – | – |
| Profit (loss) for the financial year | 81 t€ | 44 t€ | 58 t€ | 37 t€ | -28 t€ | -10 t€ |
Balance sheet
| 31.10.2025 | 31.10.2024 | 31.10.2023 | 31.10.2022 | 31.10.2021 | 31.10.2020 | |
|---|---|---|---|---|---|---|
| Non-current assets | 145 t€ | 155 t€ | 147 t€ | 149 t€ | 157 t€ | 169 t€ |
| Stocks | – | – | 0 € | 507 € | 0 € | – |
| Receivables | 3 327 € | 5 245 € | 3 544 € | 3 153 € | 14 t€ | 2 978 € |
| Cash in hand and at banks | 210 t€ | 164 t€ | 153 t€ | 78 t€ | 22 t€ | 79 t€ |
| Current assets | 213 t€ | 170 t€ | 157 t€ | 81 t€ | 36 t€ | 81 t€ |
| Assets | 358 t€ | 324 t€ | 304 t€ | 231 t€ | 193 t€ | 251 t€ |
| Share capital or other similar capital | 20 t€ | 20 t€ | 20 t€ | 20 t€ | 20 t€ | 20 t€ |
| Capital and reserves | 307 t€ | 254 t€ | 228 t€ | 170 t€ | 133 t€ | 190 t€ |
| Long-term liabilities | 32 t€ | 54 t€ | 54 t€ | 56 t€ | 56 t€ | 56 t€ |
| Short-term liabilities | 20 t€ | 16 t€ | 21 t€ | 4 453 € | 3 742 € | 5 089 € |
| Liabilities | 51 t€ | 70 t€ | 75 t€ | 60 t€ | 60 t€ | 61 t€ |
All financial statement items (51)
| 31.10.2025 | 31.10.2024 | 31.10.2023 | 31.10.2022 | 31.10.2021 | 31.10.2020 | |
|---|---|---|---|---|---|---|
| Turnover | 352 t€ | 293 t€ | 213 t€ | 164 t€ | 42 t€ | 132 t€ |
| Other operating income | – | 0 € | 2 818 € | 0 € | 30 t€ | 5 402 € |
| Raw materials and services | 49 t€ | -57 t€ | -50 t€ | -25 t€ | -17 t€ | -30 t€ |
| Personnel expenses | 80 t€ | -66 t€ | -25 t€ | -28 t€ | -20 t€ | -49 t€ |
| Depreciations and reductions in value | 15 t€ | -17 t€ | -14 t€ | -14 t€ | -14 t€ | -17 t€ |
| Other operating expenses | 106 t€ | -98 t€ | -56 t€ | -60 t€ | -49 t€ | -52 t€ |
| Operating profit (loss) | 102 t€ | 55 t€ | 72 t€ | 37 t€ | -28 t€ | -10 t€ |
| Financial income and expenses + (-) | 34 € | -537 € | -84 € | -68 € | -30 € | -6 € |
| Profit (loss) before appropriations and taxes | 102 t€ | 55 t€ | 72 t€ | 37 t€ | -28 t€ | -10 t€ |
| Income taxes | 20 t€ | -11 t€ | -14 t€ | 0 € | – | – |
| Profit (loss) for the financial year | 81 t€ | 44 t€ | 58 t€ | 37 t€ | -28 t€ | -10 t€ |
| Non-current assets | 145 t€ | 155 t€ | 147 t€ | 149 t€ | 157 t€ | 169 t€ |
| Stocks | – | – | 0 € | 507 € | 0 € | – |
| Receivables | 3 327 € | 5 245 € | 3 544 € | 3 153 € | 14 t€ | 2 978 € |
| Cash in hand and at banks | 210 t€ | 164 t€ | 153 t€ | 78 t€ | 22 t€ | 79 t€ |
| Current assets | 213 t€ | 170 t€ | 157 t€ | 81 t€ | 36 t€ | 81 t€ |
| Assets | 358 t€ | 324 t€ | 304 t€ | 231 t€ | 193 t€ | 251 t€ |
| Share capital or other similar capital | 20 t€ | 20 t€ | 20 t€ | 20 t€ | 20 t€ | 20 t€ |
| Capital and reserves | 307 t€ | 254 t€ | 228 t€ | 170 t€ | 133 t€ | 190 t€ |
| Long-term liabilities | 32 t€ | 54 t€ | 54 t€ | 56 t€ | 56 t€ | 56 t€ |
| Short-term liabilities | 20 t€ | 16 t€ | 21 t€ | 4 453 € | 3 742 € | 5 089 € |
| Liabilities | 51 t€ | 70 t€ | 75 t€ | 60 t€ | 60 t€ | 61 t€ |
| Buildings and structures, Owned | 115 t€ | 125 t€ | 113 t€ | 121 t€ | 130 t€ | 139 t€ |
| Finished products | – | – | 0 € | 507 € | 0 € | – |
| Investments | 100 € | 100 € | 100 € | 100 € | 100 € | 100 € |
| Other short-term receivables | 3 104 € | 4 455 € | 3 289 € | 2 771 € | 1 729 € | 2 725 € |
| Other current liabilities | 923 € | 654 € | 1 314 € | 1 509 € | 147 € | 3 € |
| Retained earnings | 206 t€ | 190 t€ | 150 t€ | 113 t€ | 141 t€ | 152 t€ |
| Short-term prepayments and accrued income | 223 € | 790 € | 255 € | 213 € | 13 t€ | 253 € |
| Short-term accounts payable | 4 402 € | 5 510 € | 0 € | 2 944 € | 1 865 € | 4 604 € |
| Short-term sales receivables | – | – | 0 € | 169 € | 0 € | – |
| Reserve for invested non-restricted equity | – | – | – | – | 0 € | 28 t€ |
| Purchases during the financial year | 23 t€ | -22 t€ | -33 t€ | -15 t€ | -15 t€ | -24 t€ |
| Profit (loss) for the period, equity | 81 t€ | 44 t€ | 58 t€ | 37 t€ | -28 t€ | -10 t€ |
| Short-term receivables | 3 327 € | 5 245 € | 3 544 € | 3 153 € | 14 t€ | 2 978 € |
| Interest expenses and other financial expenses for non-Group companies | 80 € | -581 € | -88 € | -83 € | -68 € | -48 € |
| Tangible assets | 145 t€ | 154 t€ | 147 t€ | 149 t€ | 157 t€ | 169 t€ |
| Wages and salaries | 63 t€ | -54 t€ | -20 t€ | -23 t€ | -12 t€ | -30 t€ |
| Short-term accrued expenses and deferred income | 14 t€ | 10 t€ | 20 t€ | 0 € | 1 731 € | 481 € |
| Liabilities | 358 t€ | 324 t€ | 304 t€ | 231 t€ | 193 t€ | 251 t€ |
| Other interest and financial income from non-group companies | 46 € | 44 € | 4 € | 15 € | 38 € | 42 € |
| Other social security expenses | 2 304 € | -2 107 € | -1 223 € | -1 560 € | -609 € | -2 793 € |
| Other tangible assets | 436 € | 581 € | 775 € | 1 034 € | 1 378 € | 1 838 € |
| Machinery and equipment | 14 t€ | 14 t€ | 18 t€ | 13 t€ | 11 t€ | 14 t€ |
| Depreciations according to plan | 15 t€ | -17 t€ | -14 t€ | -14 t€ | -14 t€ | -17 t€ |
| Services purchased | 25 t€ | -35 t€ | -17 t€ | -10 t€ | -2 184 € | -5 412 € |
| Land and water areas, Owned | 15 t€ | 15 t€ | 15 t€ | 15 t€ | 15 t€ | 15 t€ |
| Inventory increase (+) or decrease (-) | – | 0 € | -507 € | 507 € | 0 € | -615 € |
| Other shares and similar rights of ownership | 100 € | 100 € | 100 € | 100 € | 100 € | 100 € |
| Pension expenses | 15 t€ | -9 843 € | -3 843 € | -3 462 € | -7 660 € | -16 t€ |
| Long-term subordinated loans | 32 t€ | 54 t€ | 54 t€ | 56 t€ | 56 t€ | 56 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
Measured by taxable income, Korvalan Kestikievari Oy is in the upper half of the industry class hotels and similar accommodation (308 companies with taxable income; median 38 t€).
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.
Alcohol licences
- Korvalan KestikievariSodankyläntie 5901Anniskelu