Osaühing Initiative

Legal form:: Private limited company
Registry code:: 10459952
VAT no.:: EE100202753
Fiscal-year period:: 01.01 - 31.12
Established:: 16.06.1998 (28 y)
Former business names:: AS Baltic FCB, DANKO REKLAAMIGRUPI AKTSIASELTS
Capital:: 2 556 EUR
Address:: Paldiski mnt 20, Põhja-Tallinna linnaosa, Tallinn, Harju maakond, 10149
Status:: Registered
E-invoice reception:: e-arveldaja

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Contacts

Phone:: +372 5133001
Email:: initiative@initiative.ee
Website:: https://www.initiative.ee/

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Industries

PROFESSIONAL, SCIENTIFIC AND TECHNICAL ACTIVITIES
Advertising, market research and public relations
Advertising
73121 – Media advertising brokerage
Real estate activities
68201 – Renting and operating of own or leased real estate

Industry TOPNo. 5 of 331 companies

1.Fininity OÜ46.3M €
2.Edge Dynamics OÜ45.2M €
3.Mediabrands Digital OÜ35.6M €
4.Tech4you OÜ34.2M €
5.Osaühing Initiative26.7M €
6.Inspired Universal McCann OÜ25.7M €
7.AS All Media Eesti24.9M €
8.Osaühing Intense growth HUB18.1M €
9.Media HD OÜ16.9M €
10.Finceptiv OÜ15.3M €

Main activity 73121 · turnover over the last 4 quarters

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VAT liability

VAT no.	Start	End
EE100202753	01.02.1995	-

Annual reports

Aggregate data

Year	Period	Submitted	Status
2025	01.01.2025 – 31.12.2025	30.06.2026	Valid	PDF
2024	01.01.2024 – 31.12.2024	30.06.2025	Valid	PDF
2023	01.01.2023 – 31.12.2023	30.06.2024	Valid	PDF
2022	01.01.2022 – 31.12.2022	30.06.2023	Valid	PDF
2021	01.01.2021 – 31.12.2021	30.06.2022	Valid	PDF
2020	01.01.2020 – 31.12.2020	30.06.2021	Valid	PDF
2019	01.01.2019 – 31.12.2019	30.06.2020	Valid	PDF
2018	01.01.2018 – 31.12.2018	28.06.2019	Valid	PDF
2017	01.01.2017 – 31.12.2017	30.06.2018	Valid	PDF
2016	01.01.2016 – 31.12.2016	30.06.2017	Valid	PDF
2015	01.01.2015 – 31.12.2015	30.06.2016	Valid	PDF
2014	01.01.2014 – 31.12.2014	30.06.2015	Valid	PDF
2013	01.01.2013 – 31.12.2013	30.06.2014	Valid	PDF
2012	01.01.2012 – 31.12.2012	06.06.2013	Valid	PDF
2011	01.01.2011 – 31.12.2011	18.06.2012	Valid	PDF
2010	01.01.2010 – 31.12.2010	30.06.2011	Valid	PDF
2009	01.01.2009 – 31.12.2009	27.05.2010	Valid	PDF
2008	01.01.2008 – 31.12.2008	29.06.2009	Valid	PDF
2007	01.01.2007 – 31.12.2007	27.06.2008	Valid	PDF
2006	01.01.2006 – 31.12.2006	29.06.2007	Valid	PDF
2005	01.01.2005 – 31.12.2005	28.06.2006	Valid	PDF
2004	01.01.2004 – 31.12.2004	29.06.2005	Valid	PDF
2003	01.01.2003 – 31.12.2003	17.06.2004	Valid	PDF
2002	01.01.2002 – 31.12.2002	01.07.2003	Valid	PDF
2001	01.01.2001 – 31.12.2001	28.06.2002	Valid	PDF
2000	01.01.2000 – 31.12.2000	10.07.2001	Valid	PDF

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No unsubmitted declarations as of 20.10.2026.

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Tax debt Reports Declarations Court decisions2 Official announcements2 TTJA decisions–Real estate–.ee domains1 Licenses–Regulations31 Public transactions77 Grants3 State aid7 Public procurement20 Holdings in companies–Enforcement proceedings Payment orders

Tax data

Period	State taxes	Labour taxes	Taxable turnover	Employees
2026 Q3	235 013 €	109 048 €	8,27 M €+28,3%	19
2026 Q2	346 121 €	106 099 €	6,44 M €+13,7%	20
2026 Q1	284 366 €	124 661 €	5,67 M €−10,3%	19
Total 2026:	865 500 €	339 808 €	20,4 M €
2025 Q4	298 672 €	105 594 €	6,32 M €+21,9%	19
2025 Q3	200 794 €	105 068 €	5,19 M €−12,8%	19
2025 Q2	221 845 €	105 204 €	5,95 M €+1,9%	18
2025 Q1	283 707 €	114 586 €	5,84 M €−19,1%	17
Total 2025:	1,01 M €	430 452 €	23,3 M €
2024 Q4	309 974 €	98 683 €	7,22 M €+27,3%	17
2024 Q3	251 682 €	93 215 €	5,67 M €−3,6%	17
2024 Q2	281 971 €	114 012 €	5,88 M €+10,1%	17
2024 Q1	287 777 €	169 435 €	5,35 M €−18,0%	18
Total 2024:	1,13 M €	475 345 €	24,1 M €
2023 Q4	315 520 €	130 553 €	6,52 M €+33,7%	20
2023 Q3	298 277 €	142 640 €	4,88 M €−11,1%	18
2023 Q2	297 983 €	131 989 €	5,49 M €+23,0%	20
2023 Q1	278 387 €	145 460 €	4,46 M €−14,1%	20
Total 2023:	1,19 M €	550 642 €	21,4 M €
2022 Q4	265 415 €	116 121 €	5,19 M €+44,1%	21
2022 Q3	202 906 €	117 765 €	3,60 M €−16,0%	21
2022 Q2	199 358 €	112 699 €	4,29 M €−4,7%	23
2022 Q1	271 568 €	127 847 €	4,50 M €+4,3%	22
Total 2022:	939 247 €	474 432 €	17,6 M €
2021 Q4	211 925,06 €	104 618,62 €	4,32 M €+20,4%	24
2021 Q3	197 573,84 €	101 282,69 €	3,58 M €−0,6%	25
2021 Q2	198 294,24 €	102 157,33 €	3,61 M €+12,4%	24
2021 Q1	244 454,14 €	111 124,73 €	3,21 M €−0,7%	25
Total 2021:	852 247,28 €	419 183,37 €	14,7 M €
2020 Q4	242 811,23 €	83 349,64 €	3,23 M €+66,4%	24
2020 Q3	135 478,24 €	75 667,02 €	1,94 M €−7,3%	23
2020 Q2	194 666,11 €	71 835,56 €	2,09 M €−32,3%	23
2020 Q1	244 989 €	120 419 €	3,09 M €−2,7%	27
Total 2020:	817 944,58 €	351 271,22 €	10,4 M €
2019 Q4	171 466 €	101 800 €	3,18 M €+9,4%	26
2019 Q3	99 260 €	89 174 €	2,91 M €−19,9%	26
2019 Q2	99 741 €	85 847 €	3,63 M €+11,1%	24
2019 Q1	193 155 €	95 447 €	3,27 M €+12,0%	23
Total 2019:	563 622 €	372 268 €	13,0 M €
2018 Q4	109 899 €	79 570 €	2,92 M €+40,4%	24
2018 Q3	89 964 €	69 350 €	2,08 M €−34,7%	25
2018 Q2	91 615 €	69 395 €	3,18 M €+17,1%	23
2018 Q1	132 419 €	67 211 €	2,72 M €−7,8%	22
Total 2018:	423 897 €	285 526 €	10,9 M €
2017 Q4	160 765 €	65 443 €	2,95 M €+86,2%	16
2017 Q3	87 443 €	62 827 €	1,58 M €−30,4%	16
2017 Q2	66 222 €	64 562 €	2,28 M €+28,3%	20
2017 Q1	121 028 €	65 935 €	1,77 M €+4,4%	19
Total 2017:	435 458 €	258 767 €	8,58 M €
2016 Q4	76 312 €	53 341 €	1,70 M €+14,8%	13
2016 Q3	72 684 €	46 464 €	1,48 M €+18,7%	13
2016 Q2	36 910 €	39 147 €	1,25 M €−1,6%	13
2016 Q1	40 924 €	39 797 €	1,27 M €+4,8%	13
Total 2016:	226 830 €	178 749 €	5,69 M €
2015 Q4	73 473 €	33 825 €	1,21 M €−0,5%	10
2015 Q3	32 070 €	33 979 €	1,21 M €+12,1%	10
2015 Q2	41 292 €	30 312 €	1,08 M €+11,9%	10
2015 Q1	52 627 €	27 079 €	968 117 €	10
Total 2015:	199 462 €	125 195 €	4,48 M €

Revenue by industry

	2023	2024	2025
Media advertising brokerage	18 309 340 €	20 508 498 €	19 413 164 €
Renting and operating of own or leased real estate	103 391 €	108 896 €	110 051 €

Tax debts

No tax debt found

No tax debt as of 20.10.2026

Representatives

	Personal ID code
Indrek Soom	37608XXXXXX	27.08.1976 (50)	Board member	10.02.2011	-
Heiki Koitla	36905XXXXXX	16.05.1969 (57)	Board member	16.06.1998	-

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Shareholders

	Personal ID code
OÜ Playground Advertising	11609968	12.03.2009 (17)	Shareholder	2 172 EUR	84,98%	Sole ownership	01.09.2023	-
S.I. OÜ	12427301	26.02.2013 (13)	Shareholder	384 EUR	15,02%	Sole ownership	01.09.2023	-

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Other persons

	Personal ID code
Triin Seli	49012XXXXXX	26.12.1990 (35)	Audit firm	24.05.2022	-
AB Birchwood Finance OÜ	11599218	16.02.2009 (17)	Audit firm	01.01.2017	-

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Ultimate beneficial owners

	Personal ID code
Heiki Koitla	36905XXXXXX	16.05.1969 (57)	Direct holding	28.09.2018	-
Indrek Soom	37608XXXXXX	27.08.1976 (50)	Direct holding	28.09.2018	-

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Holdings in companies

No holdings in companies found

Company has no holdings in other companies

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2026 Q3

Turnover

Amount: 8 269 298 €
Monthly average: 2 756 433 €
Per employee: 145 075 €

Labour taxes

Turnover ratio: 1,32%
Tax ratio: 46,40%
Monthly average: 36 349 €
Per employee: 1 864 €

State taxes

Monthly average: 78 338 €
Turnover ratio: 2,84%

Estimated salary

Gross salary: 3 372 €
Net salary: 2 689 €

Aggregate data

Last 5 yrsAll

	2025	2024	2023	2022	2021	2020	2019
Current assets	5 127 706 €−6,8%	5 502 067 €+23,3%	4 460 997 €+16,6%	3 824 561 €−3,1%	3 947 487 €+25,7%	3 140 765 €−1,1%	3 175 990 €
Non-current assets	32 999 €−32,4%	48 794 €−11,8%	55 304 €+44,0%	38 397 €−35,8%	59 785 €+8,7%	54 982 €−31,1%	79 838 €
Total assets	5 160 705 €−7,0%	5 550 861 €+22,9%	4 516 301 €+16,9%	3 862 958 €−3,6%	4 007 272 €+25,4%	3 195 747 €−1,8%	3 255 828 €
Short-term liabilities	3 971 795 €−19,4%	4 926 927 €+31,6%	3 743 853 €+32,8%	2 818 743 €+1,1%	2 787 480 €+37,8%	2 023 027 €+7,9%	1 874 426 €
Long-term liabilities	-	-	-	-	-	-	-
Total liabilities	3 971 795 €−19,4%	4 926 927 €+31,6%	3 743 853 €+32,8%	2 818 743 €+1,1%	2 787 480 €+37,8%	2 023 027 €+7,9%	1 874 426 €
Share or stock capital	-	-	-	-	-	-	-
Retained earnings	621 378 €+55,3%	-	400 095 €−37,7%	642 602 €−23,1%	835 164 €−8,3%	910 671 €+5,1%	866 086 €
Net profit	564 976 €−9,1%	621 378 €+68,0%	369 797 €−7,3%	399 057 €+4,4%	382 072 €+47,2%	259 493 €−49,4%	512 760 €
Equity	1 188 910 €+90,6%	623 934 €−19,2%	772 448 €−26,0%	1 044 215 €−14,4%	1 219 792 €+4,0%	1 172 720 €−15,1%	1 381 402 €
Turnover	19 604 870 €−5,1%	20 650 080 €+12,0%	18 432 052 €+21,4%	15 188 361 €+11,5%	13 615 855 €+48,3%	9 184 166 €−24,5%	12 168 126 €
Profit margin	2,9%	3,0%	2,0%	2,6%	2,8%	2,8%	4,2%

Financial ratios

	2022	2021
Profit and cash flow
EBITDA	540 792 €	473 049 €
Liquidity
Current ratio	1,4	1,4
Quick ratio	1,4	1,4
Cash ratio	0,1	0,2
Efficiency
Days sales outstanding (dso)	83,8	74,9
Asset turnover	3,9	3,8
Structure
Debt ratio	0,7	0,7
Profitability
Operating margin	3,3%	3,2%
Net profit margin	2,6%	2,8%
Return on assets (roa)	10,1%	10,6%
Return on equity (roe)	38,2%	31,3%

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Licences & notices

No licenses and notices found

Company has no active licenses and business activity notices

Regulations


Ä 10027196 / 27	01.09.2023	Entry – Amendment entry	-	Entered into force01.09.2023
Ä 10027196 / 26	26.05.2021	Entry – Amendment entry	-	Entered into force26.05.2021
Ä 10027196 / 25	04.06.2019	Entry – Amendment entry under CRA § 525 (2)	-	Entered into force04.06.2019
Ä 10027196 / 24	16.01.2018	Entry – Amendment entry	-	Entered into force16.01.2018
Ä 10027196 / 23	07.11.2017	Entry – Amendment entry	-	Entered into force07.11.2017

Real estate

No real estate found

Company has no real estate

Consumer Disputes Committee decisions

No consumer dispute committee decisions found

Company has not been issued consumer dispute committee decisions

Court decisions


3-19-2412/16	Kohtu I astme menetlus	Court judgment	Public procurement	Maret Hallikma	ECLI:EE:TLHK:2020:3.19.2412.1142	31.01.2020	Open
3-17-2544/29	Apellatsioonmenetlus	Court judgment	Public procurement	Villem Lapimaa, Monika Laatsit, Oliver Kask	ECLI:EE:TLRK:2018:3.17.2544.1679	02.02.2018	Open

Official announcements


Notices of commercial and non-profit associations and foundations	27.04.2010	PDF
Notices of commercial and non-profit associations and foundations	19.01.2009	PDF

Public transactions


17.08.2026	Tallinna Tehnikaülikool	6 346,63 €Received	OPERATING EXPENSESTertiary education
21.07.2026	Tallinna Tehnikaülikool	51 906,70 €Received	OPERATING EXPENSESTertiary education
20.07.2026	Tallinna Tehnikaülikool	8 543,72 €Received	OPERATING EXPENSESR&D in education
10.07.2026	Tallinna Tehnikaülikool	2 946,98 €Received	OPERATING EXPENSESTertiary education
18.06.2026	Tallinna Tehnikaülikool	21 873,36 €Received	OPERATING EXPENSESTertiary education

Funded projects


Motiveerimine ja tagasiside andmine meeskonnatöös. Meeskonna koostööoskuste arendamine1.4.0501.10-2906	Teadmiste ja oskuste arendamise toetusESF · Ettevõtluse ja Innovatsiooni Sihtasutus	10.06.2010 – 02.06.20112007-2013	952,28 €	952,28 €	Completed
Baltic FCB töötajate koolitamise arenguprogramm1.0200.06-2259	Inimressursi arendamine ettevõtete majandusliku konkurentsivõime suurendamiseksESF · Ettevõtluse ja Innovatsiooni Sihtasutus	29.11.2006 – 06.09.20072004-2006	26 570,95 €	26 271,96 €	Completed
Baltic FCB juhtkonna koolitus 'Müüv esinemine'1.0200.06-2170	Inimressursi arendamine ettevõtete majandusliku konkurentsivõime suurendamiseksESF · Ettevõtluse ja Innovatsiooni Sihtasutus	06.11.2006 – 16.05.20072004-2006	3 553,49 €	1 776,74 €	Completed

State aid


14.11.2025	Ettevõtluse ja Innovatsiooni SihtasutusAid measure 231558	Muu › MuuGrant	909 €	231558/2600246
07.11.2024	Ettevõtluse ja Innovatsiooni SihtasutusAid measure 231558	Muu › MuuGrant	800 €	231558/2500109
05.11.2024	Ettevõtluse ja Innovatsiooni SihtasutusAid measure 231558	Muu › MuuGrant	95 €	231558/2500300
06.06.2019	Ettevõtluse ja Innovatsiooni SihtasutusAid measure 16503	Teadmiste ja oskuste arendamine VTA › Muu VTAGrant	327 €	16503/1900403
05.06.2019	Ettevõtluse ja Innovatsiooni SihtasutusAid measure 16503	Teadmiste ja oskuste arendamine VTA › Muu VTAGrant	238 €	16503/1900390

Public procurement contracts


12.06.2026End 12.07.2029	Reference number 304572 · BRÄNDIUURINGU RAAMLEPING	Eesti Energia ASContracting authority	300 000 €	Concluded
18.02.2026	Reference number 301881 · Minikonkursi vastuvõtukampaania meeidalahenduse leping 2026	Tallinna TehnikaülikoolContracting authority	97 363 €actual 97 094,45 €	Completed
27.01.2026End 26.01.2030	Reference number 301881 · Raamleping T1	Tallinna TehnikaülikoolContracting authority	1 600 000 €	Concluded
29.04.2025End 04.08.2025	Reference number 247700 · Minikonkursi vastuvõtukampaania lisa meedialahenduse LISA 1 leping 07.04.2025	Tallinna TehnikaülikoolContracting authority	61 858 €	Completed
20.01.2025End 04.08.2025	Reference number 247700 · Minikonkursi vastuvõtukampaania meedialahenduse leping 2025	Tallinna TehnikaülikoolContracting authority	71 330 €	Completed

.ee domains


initiative.ee	Active	04.07.2010	30.12.2026

Enforcement proceedings

No enforcement proceedings found

Company has no active debts with bailiffs

Payment orders

No payment orders found

Company has no court-ordered payment orders

Data comes from public registers.