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's activity report 2022

Terrassivennad OÜ, a company that was established on the 14th of April, 2021, has shown a remarkable growth trajectory in its financial performance. The company's primary business activity revolves around specialized construction work that doesn't fall under any specific category. This unique business model has allowed the company to carve out a niche for itself in the construction industry.

In the financial year of 2022, Terrassivennad OÜ's annual report showcased a positive outcome when compared to the previous year. The company's sales revenue saw an almost twofold increase, reaching a total of 69,984 euros. This is a significant leap from the 33,089 euros that was recorded in the year 2021. The company's profit for the reporting year was 607 euros, which is a noteworthy improvement from the previous year. In 2021, the company had suffered a loss of 4,059 euros. This turnaround in the company's financial health is a testament to its resilience and strategic planning.

In terms of the company's current assets, the 2022 figure stood at 14,083 euros, which is more than double the previous year's figure of 6,125 euros. Out of this total, the largest portion was cash, amounting to 6,602 euros. The company's receivables and prepayments were 1,552 euros, and the inventory was valued at 5,929 euros.

On the liabilities side, the company's short-term liabilities amounted to 9,417 euros, which is nearly four times greater than the previous year. However, the company had no loan obligations, which is a positive sign for its financial stability.

In terms of equity, the company's total equity amounted to 4,666 euros. The nominal value of the share capital was 2,500 euros, and the undistributed profit (loss) from previous periods was 4,059 euros. The profit for the reporting year, 607 euros, was added to the total equity.

The company's labor costs in 2022 were 23,560 euros, which is almost three times greater than the previous year. Labor costs constituted the largest portion of the company's expenses.

Moving forward, Terrassivennad OÜ plans to continue its primary business activity in 2023. The company's financial situation has improved compared to the previous year, and it has managed to generate a profit. This positive trend indicates a promising future for the company, and it will be interesting to see how it continues to grow and evolve in the coming years.