Kitman Thulema ASRegistered
Key figures
Ratios
2025Balance sheet structure
Quarterly figures
| Quarter | Revenue | Number of employees | Labour taxes |
|---|---|---|---|
| Q3 2026 | 4 467 680 € | 151 | 469 643 € |
| Q2 2026 | 4 591 573 € | 140 | 508 601 € |
| Q1 2026 | 4 898 435 € | 146 | 479 328 € |
| Q4 2025 | 6 545 952 € | 141 | 523 571 € |
| Q3 2025 | 5 346 770 € | 148 | 501 914 € |
| Q2 2025 | 4 855 093 € | 142 | 515 289 € |
| Q1 2025 | 4 432 855 € | 136 | 468 519 € |
Source: Tax Board open data — based on VAT returns, may not exactly match revenue in the annual report. Updated quarterly.
Dividends
calculatedDistributed as dividends 1 300 000 € (31% of distributable profit).
Previous year's retained earnings + previous year's profit − current retained earnings.
Summary of financial statements2019–2025
| 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | |
|---|---|---|---|---|---|---|---|
| Balance sheet — assets | |||||||
| Total current assets | 3 949 483 | 4 340 140 | 5 123 139 | 3 887 454 | 5 532 210 | 5 400 664 | 5 646 538 |
| Total non-current assets | 4 532 896 | 3 996 758 | 3 539 886 | 3 453 264 | 3 593 644 | 3 192 014 | 2 893 933 |
| Total assets | 8 482 379 | 8 336 898 | 8 663 025 | 7 340 718 | 9 125 854 | 8 592 678 | 8 540 471 |
| Balance sheet — liabilities and equity | |||||||
| Current liabilities | 2 636 654 | 1 889 744 | 2 584 849 | 1 862 345 | 2 798 982 | 2 148 373 | 2 027 601 |
| Non-current liabilities | 1 150 358 | 941 202 | 749 087 | 535 599 | 8298 | 212 962 | 69 718 |
| Total liabilities | 3 787 012 | 2 830 946 | 3 333 936 | 2 397 944 | 2 807 280 | 2 361 335 | 2 097 319 |
| Share capital | 1 800 000 | 1 800 000 | 1 800 000 | 1 800 000 | 1 800 000 | 1 800 000 | 1 800 000 |
| Retained earnings of previous periods | 2 413 883 | 2 703 632 | 3 014 217 | 2 837 354 | 1 951 039 | 2 326 839 | 2 939 608 |
| Profit for the year | 289 749 | 810 585 | 323 137 | 113 685 | 2 375 800 | 1 912 769 | 1 511 809 |
| Reserves and other equity | 191 735 | 191 735 | 191 735 | 191 735 | 191 735 | 191 735 | 191 735 |
| Total equity | 4 695 367 | 5 505 952 | 5 329 089 | 4 942 774 | 6 318 574 | 6 231 343 | 6 443 152 |
| Income statement | |||||||
| Sales revenue | 14 216 166 | 13 173 221 | 15 006 909 | 12 823 177 | 15 004 873 | 15 608 318 | 18 017 795 |
| Operating profit | 313 398 | 828 377 | 461 913 | 242 690 | 1 398 952 | 1 136 997 | 1 235 163 |
| EBITDA | 1 003 026 | 1 410 411 | 1 035 243 | 747 888 | 1 846 431 | 1 598 431 | 1 611 388 |
| Profit before income tax | 289 749 | 810 585 | 448 137 | 224 150 | 2 375 800 | 2 133 699 | 1 737 450 |
| Profit for the reporting year | 289 749 | 810 585 | 323 137 | 113 685 | 2 375 800 | 1 912 769 | 1 511 809 |
| Labour costs | 3 440 977 | 3 417 277 | 3 984 728 | — | — | — | — |
| Depreciation of non-current assets | 689 628 | 582 034 | 573 330 | 505 198 | 447 479 | 461 434 | 376 225 |
| Other indicators | |||||||
| Employees | 137 | 122 | 133 | 120 | 131 | 132 | 129 |
| Calculated dividend | — | 0 | 500 000 | 500 000 | 1 000 000 | 2 000 000 | 1 300 000 |
A dash (—) means the report has not been filed or the line is not reported; 0 is a zero stated in the report.
Risks and obligationsAll clear
Data from public registers, not a credit rating.
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Public procurement
109 contractsPublic contracts won worth 12 071 279 € from 45 contracting authorities (06.10.2023–07.09.2026). Plus 30 framework agreements shared with other suppliers (not included in the total).
| Tender | Contracting authority | Amount | Awarded |
|---|---|---|---|
| Sisekaitseakadeemia, Kase 61, Tallinn, majutus- ja õppehoone ostumööbel | Riigi Kinnisvara Aktsiaselts | 609 705 € | 07.09.2026 |
| Võru riigimaja sisustuse hankimine · Osa 1 | Riigi Kinnisvara Aktsiaselts | 193 101 € | 24.08.2026 |
| Alutaguse teenuskeskuse sisustuse soetamise hange | Alutaguse Vallavalitsus | 98 854 € | 06.08.2026 |
| Eesti Vabariigi suursaatkonnas Jerevanis sisustuse ostmine | Välisministeerium | 108 344 € | 27.07.2026 |
| Garderoobikappide ostmine | Sihtasutus Tallinna Lastehaigla | 128 233 € | 22.06.2026 |
| Suur-Ameerika 1 Tallinn sisustus | Riigi Kinnisvara Aktsiaselts | 62 940 € | 10.06.2026 |
| Töötoolide ja sahtlibokside hankimine · Ergonoomilised töötoolid | Riigi Infosüsteemi Amet | 8644 € | 09.06.2026 |
| Hiiu Kooli sisustushange · Mööbel | Tallinna Haridusamet | 484 740 € | 08.06.2026 |
Source: Public Procurement Register open data from October 2023. All public tenders
Summary: Kitman Thulema AS
Overview
Kitman Thulema AS (registry code 12715827) is a public limited company (AS). The company was entered in the Commercial Register in 2014 and has been registered for 12 years. Registered location: Lasnamäe linnaosa, Tallinn, Harju maakond. According to the latest annual report, the main activity is manufacture of furniture (except mattresses) (EMTAK 31001). The company is registered for VAT (VAT number EE101740023).
Financial results
Revenue in financial year 2025 was 18 017 795 €, up 15,4% on the previous year (15 608 318 €). From 2019 to 2025, revenue grew by an average of 4,0% per year. This is the company's highest revenue among the published years (2019–2025). Net profit for financial year 2025 was 1 511 809 € (8,4% of revenue). The company was profitable in all 7 published financial years. In financial year 2025 the company had 129 employees (132 a year earlier). Revenue per employee was 139 673 €. At the end of financial year 2025, total assets were 8 540 471 € and equity 6 443 152 € (75,4% of assets).
Latest quarterly figures
According to the Tax and Customs Board, turnover in Q3 2026 was 4 467 680 €, down 16,4% on the same quarter a year earlier. The company had 151 employees in that quarter. Labour taxes paid in the quarter: 469 643 €. Based on labour taxes, the estimated average gross salary in Q3 2026 was about 1980 € per month.
Management and owners
The company has one management board member. The supervisory board has 3 members. The sole owner of the company is OÜ NG INVESTEERINGUD.
Data sources and freshness
Register data (name, address, legal form, management board and owners) come from the Commercial Register of the Centre of Registers and Information Systems (RIK); changes are read from RIK every night. Financial figures come from annual reports; the latest report (financial year 2025) was filed on 30.06.2026. Quarterly turnover, employee numbers and labour taxes come from the open data of the Tax and Customs Board (EMTA); latest quarter Q3 2026. Changes, averages and ratios are calculated by entity.ee from open data and are not an official assessment.