PowerUp Fuel Cells OÜRegistered
Key figures
Ratios
2024Balance sheet structure
Quarterly figures
| Quarter | Revenue | Number of employees | Labour taxes |
|---|---|---|---|
| Q3 2026 | 151 815 € | 31 | 159 040 € |
| Q2 2026 | 180 357 € | 34 | 203 842 € |
| Q1 2026 | 183 192 € | 33 | 191 407 € |
| Q4 2025 | 210 683 € | 30 | 196 899 € |
| Q3 2025 | 106 476 € | 31 | 94 761 € |
| Q2 2025 | 168 747 € | 33 | 100 668 € |
| Q1 2025 | 84 457 € | 30 | 161 449 € |
Source: Tax Board open data — based on VAT returns, may not exactly match revenue in the annual report. Updated quarterly.
Summary of financial statements2019–2024
| 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | |
|---|---|---|---|---|---|---|
| Balance sheet — assets | ||||||
| Total current assets | 22 615 | 54 721 | 122 748 | 237 966 | 294 731 | 254 081 |
| Total non-current assets | 42 905 | 172 591 | 420 595 | 774 278 | 859 544 | 806 346 |
| Total assets | 65 520 | 227 312 | 543 343 | 1 012 244 | 1 154 275 | 1 060 427 |
| Balance sheet — liabilities and equity | ||||||
| Current liabilities | 63 694 | 49 971 | 378 304 | 1 530 999 | 3 105 224 | 4 736 178 |
| Non-current liabilities | 9900 | 135 373 | 580 973 | 0 | — | — |
| Total liabilities | 73 594 | 185 344 | 959 277 | 1 530 999 | 3 105 224 | 4 736 178 |
| Share capital | 2500 | 2500 | 2500 | 3671 | 3671 | 3671 |
| Retained earnings of previous periods | 5146 | −10 574 | −13 132 | −471 034 | −2 146 430 | −3 589 325 |
| Profit for the year | −15 720 | −2558 | −457 902 | −1 624 839 | −1 442 895 | −1 742 568 |
| Reserves and other equity | — | 52 600 | 52 600 | 1 573 447 | 1 634 705 | 1 652 471 |
| Total equity | −8074 | 41 968 | −415 934 | −518 755 | −1 950 949 | −3 675 751 |
| Income statement | ||||||
| Sales revenue | 12 135 | 18 497 | 118 796 | 81 727 | 271 399 | 200 966 |
| Operating profit | −15 721 | −2398 | −458 615 | −1 600 519 | −1 443 893 | −1 479 445 |
| EBITDA | −13 361 | 6860 | −392 806 | −1 440 153 | −1 211 920 | −1 203 835 |
| Profit before income tax | −15 720 | −2397 | −457 902 | −1 622 624 | −1 442 895 | −1 742 568 |
| Profit for the reporting year | −15 720 | −2558 | −457 902 | −1 624 839 | −1 442 895 | −1 742 568 |
| Labour costs | 36 279 | 25 728 | 670 542 | 1 398 209 | 1 334 343 | 1 333 619 |
| Depreciation of non-current assets | 2360 | 9258 | 65 809 | 160 366 | 231 973 | 275 610 |
| Other indicators | ||||||
| Employees | 4 | 8 | 19 | 28 | 27 | 24 |
| Calculated dividend | — | 0 | 0 | 0 | 0 | 0 |
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 obligations2 issues4 clear
Data from public registers, not a credit rating.
Connections graph1st level only
Summary: PowerUp Fuel Cells OÜ
Overview
PowerUp Fuel Cells OÜ (registry code 14110442) is a private limited company (OÜ). The company was entered in the Commercial Register in 2016 and has been registered for 10 years. Registered location: Mustamäe linnaosa, Tallinn, Harju maakond. According to the latest annual report, the main activity is research and development in natural sciences and engineering (EMTAK 72101). The company is registered for VAT (VAT number EE101922281).
Financial results
Revenue in financial year 2025 was 333 166 €, up 65,8% on the previous year (200 966 €). From 2019 to 2025, revenue grew by an average of 73,7% per year. This is the company's highest revenue among the published years (2019–2025). Financial year 2024 ended with a loss of 1 742 568 €. The company made a loss in all 6 published financial years. In financial year 2025 the company had 27 employees (24 a year earlier). Revenue per employee was 12 339 €.
Latest quarterly figures
According to the Tax and Customs Board, turnover in Q3 2026 was 151 815 €, up 42,6% on the same quarter a year earlier. The company had 31 employees in that quarter. Labour taxes paid in the quarter: 159 040 €. Based on labour taxes, the estimated average gross salary in Q3 2026 was about 3130 € per month.
Management and owners
The company has one management board member. According to the register, the company has 17 owners. The largest stake (68,1%) is held by a private individual.
Points to note
The annual report for financial year 2025 has not been filed on time. Equity was negative at the end of financial year 2024 (−3 675 751 €). Equity is below half of the share capital (3671 €); in this case the Commercial Code requires measures to restore equity.
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 2024) was filed on 27.09.2025. 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.