Armas Holding Oy is a limited company based in Turku, registered in 2018. In the financial year ending 31.12.2025, revenue was 278 t€ and operating profit -216 t€; equity ratio 93.5 %. Its taxable income in 2024 was 4,1 M€ and its income taxes 823 t€. Public buyers bought 17 t€ from it in 2022–2024; the largest buyer is Tulli (Valtiovarainministeriön hallinnonala).
Financials
| Key figures | 31.12.2025 | 31.12.2024 |
|---|---|---|
| Revenue | 278 t€ | 27,6 M€ |
| Revenue change | -99,0 % | – |
| EBITDA | -219 t€ | 3,7 M€ |
| EBITDA % | -78,7 % | 13,3 % |
| Operating profit | -216 t€ | 3,7 M€ |
| Operating margin | -77,7 % | 13,4 % |
| Net profit | -40 € | 3,3 M€ |
| Personnel costs | -79 t€ | -2,4 M€ |
| Equity ratio | 93,5 % | 89,4 % |
| Quick ratio | 97,87 | 20,01 |
| Current ratio | 110,34 | 21,53 |
| Debt to revenue | 250,5 % | 4,4 % |
| Return on equity | -0,0 % | 32,1 % |
| Balance sheet total | 10,7 M€ | 11,4 M€ |
| Equity | 10,0 M€ | 10,2 M€ |
| Cash and bank | 92 t€ | 7,2 M€ |
Balance sheet
Income statement and balance sheet
Income statement
| 31.12.2025 | 31.12.2024 | |
|---|---|---|
| Turnover | 278 t€ | 27,6 M€ |
| Other operating income | 33 t€ | 3,5 M€ |
| Raw materials and services | 351 t€ | 23,8 M€ |
| Personnel expenses | 79 t€ | 2,4 M€ |
| Depreciations and reductions in value | 2 637 € | 20 t€ |
| Other operating expenses | 95 t€ | 1,1 M€ |
| Operating profit (loss) | -216 t€ | 3,7 M€ |
| Financial income and expenses + (-) | -216 t€ | -403 t€ |
| Profit (loss) before appropriations and taxes | 138 € | 4,1 M€ |
| Income taxes | 179 € | 820 t€ |
| Profit (loss) for the financial year | -40 € | 3,3 M€ |
Balance sheet
| 31.12.2025 | 31.12.2024 | |
|---|---|---|
| Non-current assets | 4,4 M€ | 561 t€ |
| Stocks | 711 t€ | 766 t€ |
| Receivables | 502 t€ | 838 t€ |
| Cash in hand and at banks | 92 t€ | 7,2 M€ |
| Current assets | 6,3 M€ | 10,8 M€ |
| Assets | 10,7 M€ | 11,4 M€ |
| Share capital or other similar capital | 100 t€ | 100 t€ |
| Capital and reserves | 10,0 M€ | 10,2 M€ |
| Long-term liabilities | 640 t€ | 701 t€ |
| Short-term liabilities | 57 t€ | 503 t€ |
| Liabilities | 697 t€ | 1,2 M€ |
All financial statement items (53)
| 31.12.2025 | 31.12.2024 | |
|---|---|---|
| Turnover | 278 t€ | 27,6 M€ |
| Other operating income | 33 t€ | 3,5 M€ |
| Raw materials and services | 351 t€ | 23,8 M€ |
| Personnel expenses | 79 t€ | 2,4 M€ |
| Depreciations and reductions in value | 2 637 € | 20 t€ |
| Other operating expenses | 95 t€ | 1,1 M€ |
| Operating profit (loss) | -216 t€ | 3,7 M€ |
| Financial income and expenses + (-) | -216 t€ | -403 t€ |
| Profit (loss) before appropriations and taxes | 138 € | 4,1 M€ |
| Income taxes | 179 € | 820 t€ |
| Profit (loss) for the financial year | -40 € | 3,3 M€ |
| Non-current assets | 4,4 M€ | 561 t€ |
| Stocks | 711 t€ | 766 t€ |
| Receivables | 502 t€ | 838 t€ |
| Cash in hand and at banks | 92 t€ | 7,2 M€ |
| Current assets | 6,3 M€ | 10,8 M€ |
| Assets | 10,7 M€ | 11,4 M€ |
| Share capital or other similar capital | 100 t€ | 100 t€ |
| Capital and reserves | 10,0 M€ | 10,2 M€ |
| Long-term liabilities | 640 t€ | 701 t€ |
| Short-term liabilities | 57 t€ | 503 t€ |
| Liabilities | 697 t€ | 1,2 M€ |
| Other current liabilities | 11 t€ | 2 385 € |
| Wages and salaries | 57 t€ | 2,0 M€ |
| Long-term loan receivables | 462 t€ | 790 t€ |
| Inventory increase (+) or decrease (-) | 55 t€ | 6,6 M€ |
| Pension expenses | 5 556 € | 376 t€ |
| Tangible assets | 569 t€ | 561 t€ |
| Depreciations according to plan | 2 637 € | 20 t€ |
| Liabilities | 10,7 M€ | 11,4 M€ |
| Other short-term receivables | 3 950 € | 2 953 € |
| Investments | 3,9 M€ | 0 € |
| Other social security expenses | 16 t€ | 59 t€ |
| Land and water areas, Owned | 561 t€ | 561 t€ |
| Profit (loss) for the period, equity | -40 € | 3,3 M€ |
| Other shares, financial securities | 5,0 M€ | 2,0 M€ |
| Other long-term liabilities | 640 t€ | 701 t€ |
| Services purchased | 54 t€ | 732 t€ |
| Retained earnings | 9,9 M€ | 6,8 M€ |
| Purchases during the financial year | 241 t€ | 16,5 M€ |
| Finished products | 80 t€ | 300 t€ |
| Short-term prepayments and accrued income | 36 t€ | 31 t€ |
| Long-term receivables | 462 t€ | 790 t€ |
| Other interest and financial income from non-group companies | 230 t€ | 472 t€ |
| Other shares and similar rights of ownership | 3,9 M€ | 0 € |
| Short-term accrued expenses and deferred income | 25 t€ | 451 t€ |
| Shares and holdings | 5,0 M€ | 2,0 M€ |
| Other stocks | 632 t€ | 467 t€ |
| Short-term sales receivables | 0 € | 14 t€ |
| Short-term receivables | 40 t€ | 48 t€ |
| Interest expenses and other financial expenses for non-Group companies | 13 t€ | 69 t€ |
| Machinery and equipment | 7 912 € | 0 € |
| Short-term accounts payable | 21 t€ | 50 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, Armas Holding Oy is in the top 10 % of the industry class other financial service activities, except insurance and pension funding n.e.c. (2749 companies with taxable income; median 21 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.
Sales to public buyers
Largest buyers
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