M. Smeds VVS Ab is a limited company based in Pedersören kunta, registered in 2007. In the financial year ending 31.12.2025, revenue was 362 t€ and operating profit 24 t€; equity ratio 36.1 %. Its taxable income in 2024 was 35 t€ and its income taxes 6 973 €.
Revenue 2025362 t€-13 % on the previous year
Operating profit24 t€6,7 % of revenue
Net profit12 t€EBITDA 11 t€
Equity ratio36,1 %quick ratio 0,23
Taxable income 202435 t€
upper half of its industry
Income taxes 20246 973 €23 t€ in 2020–2024
In business19 yrsregistered 12.7.2007
Financials
RevenueOperating profitNet profit
| Key figures | 31.12.2025 | 31.12.2024 | 31.12.2023 | 31.12.2022 | 31.12.2021 |
|---|---|---|---|---|---|
| Revenue | 362 t€ | 415 t€ | 335 t€ | 308 t€ | 205 t€ |
| Revenue change | -12,7 % | 23,7 % | 8,8 % | 50,5 % | – |
| EBITDA | 11 t€ | 62 t€ | 55 t€ | 55 t€ | 34 t€ |
| EBITDA % | 2,9 % | 14,9 % | 16,5 % | 17,7 % | 16,7 % |
| Operating profit | 24 t€ | 47 t€ | 39 t€ | 37 t€ | 20 t€ |
| Operating margin | 6,7 % | 11,3 % | 11,8 % | 11,9 % | 9,9 % |
| Net profit | 12 t€ | 27 t€ | 23 t€ | 22 t€ | 11 t€ |
| Personnel costs | -102 t€ | 81 t€ | 69 t€ | 52 t€ | 35 t€ |
| Equity ratio | 36,1 % | 33,9 % | 28,9 % | 21,9 % | 19,3 % |
| Quick ratio | 0,23 | 0,72 | 0,32 | 0,36 | 0,03 |
| Current ratio | 1,59 | 1,72 | 1,75 | 1,46 | 1,38 |
| Debt to revenue | 56,5 % | 52,8 % | 67,9 % | 87,5 % | 119,2 % |
| Return on equity | 10,4 % | 24,4 % | 24,6 % | 29,0 % | 18,5 % |
| Balance sheet total | 320 t€ | 332 t€ | 320 t€ | 345 t€ | 302 t€ |
| Equity | 116 t€ | 113 t€ | 92 t€ | 76 t€ | 59 t€ |
| Cash and bank | – | – | 0 € | -68 € | 0 € |
Balance sheet
Balance sheet totalEquityCash
Income statement and balance sheet
Income statement
| 31.12.2025 | 31.12.2024 | 31.12.2023 | 31.12.2022 | 31.12.2021 | |
|---|---|---|---|---|---|
| Turnover | 362 t€ | 415 t€ | 335 t€ | 308 t€ | 205 t€ |
| Other operating income | – | 0 € | 705 € | 0 € | – |
| Raw materials and services | 121 t€ | -201 t€ | -158 t€ | -138 t€ | -89 t€ |
| Personnel expenses | 102 t€ | -81 t€ | -69 t€ | -52 t€ | -35 t€ |
| Depreciations and reductions in value | 14 t€ | -15 t€ | -16 t€ | -18 t€ | -14 t€ |
| Other operating expenses | 100 t€ | -71 t€ | -54 t€ | -63 t€ | -46 t€ |
| Operating profit (loss) | 24 t€ | 47 t€ | 39 t€ | 37 t€ | 20 t€ |
| Financial income and expenses + (-) | 8 478 € | -12 t€ | -12 t€ | -8 981 € | -6 645 € |
| Profit (loss) before appropriations and taxes | 16 t€ | 35 t€ | 28 t€ | 28 t€ | 14 t€ |
| Income taxes | 3 783 € | -7 238 € | -5 107 € | -5 885 € | -2 846 € |
| Profit (loss) for the financial year | 12 t€ | 27 t€ | 23 t€ | 22 t€ | 11 t€ |
Balance sheet
| 31.12.2025 | 31.12.2024 | 31.12.2023 | 31.12.2022 | 31.12.2021 | |
|---|---|---|---|---|---|
| Non-current assets | 144 t€ | 155 t€ | 166 t€ | 180 t€ | 178 t€ |
| Stocks | 151 t€ | 103 t€ | 126 t€ | 124 t€ | 122 t€ |
| Receivables | 26 t€ | 73 t€ | 28 t€ | 41 t€ | 2 757 € |
| Cash in hand and at banks | – | – | 0 € | -68 € | 0 € |
| Current assets | 177 t€ | 176 t€ | 155 t€ | 165 t€ | 124 t€ |
| Assets | 320 t€ | 332 t€ | 320 t€ | 345 t€ | 302 t€ |
| Share capital or other similar capital | 2 500 € | 2 500 € | 2 500 € | 2 500 € | 2 500 € |
| Capital and reserves | 116 t€ | 113 t€ | 92 t€ | 76 t€ | 59 t€ |
| Long-term liabilities | 94 t€ | 117 t€ | 140 t€ | 156 t€ | 154 t€ |
| Short-term liabilities | 111 t€ | 103 t€ | 88 t€ | 113 t€ | 90 t€ |
| Liabilities | 205 t€ | 219 t€ | 228 t€ | 270 t€ | 244 t€ |
All financial statement items (53)
| 31.12.2025 | 31.12.2024 | 31.12.2023 | 31.12.2022 | 31.12.2021 | |
|---|---|---|---|---|---|
| Turnover | 362 t€ | 415 t€ | 335 t€ | 308 t€ | 205 t€ |
| Other operating income | – | 0 € | 705 € | 0 € | – |
| Raw materials and services | 121 t€ | -201 t€ | -158 t€ | -138 t€ | -89 t€ |
| Personnel expenses | 102 t€ | -81 t€ | -69 t€ | -52 t€ | -35 t€ |
| Depreciations and reductions in value | 14 t€ | -15 t€ | -16 t€ | -18 t€ | -14 t€ |
| Other operating expenses | 100 t€ | -71 t€ | -54 t€ | -63 t€ | -46 t€ |
| Operating profit (loss) | 24 t€ | 47 t€ | 39 t€ | 37 t€ | 20 t€ |
| Financial income and expenses + (-) | 8 478 € | -12 t€ | -12 t€ | -8 981 € | -6 645 € |
| Profit (loss) before appropriations and taxes | 16 t€ | 35 t€ | 28 t€ | 28 t€ | 14 t€ |
| Income taxes | 3 783 € | -7 238 € | -5 107 € | -5 885 € | -2 846 € |
| Profit (loss) for the financial year | 12 t€ | 27 t€ | 23 t€ | 22 t€ | 11 t€ |
| Non-current assets | 144 t€ | 155 t€ | 166 t€ | 180 t€ | 178 t€ |
| Stocks | 151 t€ | 103 t€ | 126 t€ | 124 t€ | 122 t€ |
| Receivables | 26 t€ | 73 t€ | 28 t€ | 41 t€ | 2 757 € |
| Cash in hand and at banks | – | – | 0 € | -68 € | 0 € |
| Current assets | 177 t€ | 176 t€ | 155 t€ | 165 t€ | 124 t€ |
| Assets | 320 t€ | 332 t€ | 320 t€ | 345 t€ | 302 t€ |
| Share capital or other similar capital | 2 500 € | 2 500 € | 2 500 € | 2 500 € | 2 500 € |
| Capital and reserves | 116 t€ | 113 t€ | 92 t€ | 76 t€ | 59 t€ |
| Long-term liabilities | 94 t€ | 117 t€ | 140 t€ | 156 t€ | 154 t€ |
| Short-term liabilities | 111 t€ | 103 t€ | 88 t€ | 113 t€ | 90 t€ |
| Liabilities | 205 t€ | 219 t€ | 228 t€ | 270 t€ | 244 t€ |
| Other current liabilities | 9 038 € | 20 t€ | 14 t€ | 14 t€ | 7 900 € |
| Liabilities | 320 t€ | 332 t€ | 320 t€ | 345 t€ | 302 t€ |
| Long-term liabilities to credit institutions | 88 t€ | 107 t€ | 126 t€ | 139 t€ | 154 t€ |
| Reserve for invested non-restricted equity | 582 € | 582 € | 582 € | 582 € | 582 € |
| Short-term receivables | 26 t€ | 73 t€ | 28 t€ | 41 t€ | 2 757 € |
| Land and water areas, Owned | 2 625 € | 2 625 € | 2 625 € | 2 625 € | 2 625 € |
| Other short-term receivables | 0 € | 39 € | 0 € | – | – |
| Other interest and financial income from non-group companies | 0 € | 119 € | 0 € | 0 € | 0 € |
| Long-term accounts payable | 5 545 € | 9 739 € | 14 t€ | 18 t€ | 0 € |
| Machinery and equipment | 12 t€ | 14 t€ | 14 t€ | 17 t€ | 2 822 € |
| Retained earnings | 100 t€ | 82 t€ | 67 t€ | 51 t€ | 45 t€ |
| Short-term accounts payable | 44 t€ | 21 t€ | 35 t€ | 41 t€ | 17 t€ |
| Wages and salaries | 77 t€ | -64 t€ | -53 t€ | -37 t€ | -29 t€ |
| Other shares and similar rights of ownership | 50 € | 50 € | 50 € | 50 € | 50 € |
| Short-term sales receivables | 23 t€ | 73 t€ | 28 t€ | 41 t€ | 2 308 € |
| Profit (loss) for the period, equity | 12 t€ | 27 t€ | 23 t€ | 22 t€ | 11 t€ |
| Interest expenses and other financial expenses for non-Group companies | 8 523 € | -12 t€ | -12 t€ | -9 012 € | -6 698 € |
| Pension expenses | 15 t€ | -10 t€ | -9 628 € | -8 061 € | -1 944 € |
| Short-term prepayments and accrued income | 2 590 € | 0 € | – | 0 € | 449 € |
| Buildings and structures, Owned | 129 t€ | 139 t€ | 149 t€ | 161 t€ | 173 t€ |
| Other social security expenses | 10 t€ | -6 746 € | -6 267 € | -7 333 € | -4 199 € |
| Services purchased | 14 t€ | -10 t€ | -881 € | -4 652 € | -3 534 € |
| Income from other investments under non-current assets, from other companies | 45 € | 38 € | 24 € | 31 € | 53 € |
| Purchases during the financial year | 156 t€ | -167 t€ | -159 t€ | -136 t€ | -96 t€ |
| Tangible assets | 144 t€ | 155 t€ | 165 t€ | 180 t€ | 178 t€ |
| Materials and supplies | 151 t€ | 103 t€ | 126 t€ | 124 t€ | 122 t€ |
| Short-term liabilities to credit institutions | 58 t€ | 57 t€ | 36 t€ | 56 t€ | 62 t€ |
| Depreciations according to plan | 14 t€ | -15 t€ | -16 t€ | -18 t€ | -14 t€ |
| Short-term accrued expenses and deferred income | 85 € | 4 260 € | 3 805 € | 2 603 € | 2 753 € |
| Investments | 50 € | 50 € | 50 € | 50 € | 50 € |
| Inventory increase (+) or decrease (-) | -48 t€ | -24 t€ | 2 123 € | 2 763 € | 10 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, M. Smeds VVS Ab is in the upper half of the industry class plumbing, heat and air-conditioning installation (1803 companies with taxable income; median 25 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.
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