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Estiq association financial analysis v2.1 · Rule-based (experimental)
Apartment association financial analysis

Peipsiääre vald, Pala küla, Tarukese korteriühistu

Reg. code 80476886 · Building: , Tallinn (EHR ) · 8 flats · 584.7 m²
Good and stable position · Moderate risk
64 / 100

How is the Estiq financial analysis index built?

The index analyses the association’s official annual reports from the Commercial Register across five independent financial dimensions, in line with the Estonian Accounting Standards Board guideline RTJ 14 and the Apartment Ownership and Apartment Associations Act (KrtS). The model computes a weighted composite score from 0 to 100. It rates the association’s finances, not the technical condition of the building.

In-depth analysis of five financial dimensions

1. Liquidity and solvency 25% of the composite score
76 / 100
Analytical assessment:
Cash after deducting the accounting repair-fund liability (€4,492) covers total short-term payables and advances received (€0). The estimated runway for current operating costs (excluding extraordinary repair works, based on €7,205 a year / €600 a month) is about 7.5 months (about 7.5 months on total 2025 costs). The ratio of current assets to short-term liabilities is 0.00 (an estimated indicator, a ratio rather than a euro amount).
Input figure Value in the report
Cash at year end (balance sheet) €4,492
Total current assets (balance sheet) €5,303
Other current assets besides cash and receivables (e.g. deposit) Data unavailable
Accounting repair-fund balance (balance sheet) €0
Total short-term payables and advances received €0
of which supplier debt Data unavailable
Cash minus repair-fund balance (proxy) €4,492
Current ratio (current assets ÷ short-term liabilities) Data unavailable
Operating-cost coverage in months 7.5 months
Total-cost coverage in months 7.5 months
Annual operating costs excluding repairs €7,205
Total annual costs €7,205
Source: 2025 annual report, balance sheet
Methodological limitation: This is an accounting approximation (proxy), not confirmed free cash on a segregated bank account. The notes to the report do not show how bank accounts are split between earmarked funds and operating money, so the estimated balance must not be treated as verified free operating cash. Money earmarked for repairs may sit in the same account.
2. Debt load and balance-sheet liabilities 20% of the composite score
85 / 100
Analytical assessment:
There are no bank loans (principal balance €0), which removes interest-rate and refinancing risk. Short-term supplier payables are covered by the estimated liquidity buffer (cash after the accounting repair-fund liability). The loan-free branch of the model gives 85 points on this dimension.
Input figure Value in the report
Bank loans present No
Bank-loan principal at year end €0
Total short-term payables and advances received €0
Total short-term liabilities €0
Source: 2025 annual report, balance sheet
Methodological limitation: The absence of a bank loan does not mean the building is free of obligations; the building’s condition history and the likely need for future renovation loans must also be considered.
3. Residents’ payment discipline and receivables 15% of the composite score
75 / 100
Analytical assessment:
Receivables level and trend: balance-sheet receivables from owners were €0 at year end (notes to the report), about 0.0% of annual billing to the flats (roughly 0.0 months of normal billing).
Input figure Value in the report
Receivables from owners at year end Data unavailable
Receivables at the previous year end Data unavailable
Annual change in receivables (%) Data unavailable
Annual billing to the flats Data unavailable
Receivables as a share of annual billing Data unavailable
Receivables expressed in months of billing Data unavailable
Source: 2025 annual report, balance sheet; flat table
Methodological limitation: This is an indicator of the level and trend of receivables, not a verified measure of payment behaviour or collection rate. The report shows total receivables on the balance-sheet date, not an ageing schedule of arrears (30/60/90 days overdue), and does not separate current December utility bills from long-standing debts.
4. Adequacy of the repair-fund reserve 25% of the composite score
20 / 100
Analytical assessment:
The accounting repair-fund balance is €0.0/m² (in total €0, roughly €0 per flat).
Input figure Value in the report
reserve_basis repair_fund
net_assets Data unavailable
net_assets_m2 Data unavailable
Repair-fund balance at the balance-sheet date €0
Heated floor area of the building (EHR) 584.7 m²
Repair fund per m² €0.0/m²
Repair fund per flat €0
Source: 2025 annual report, balance sheet; Building Register (EHR)
Methodological limitation: The indicator measures the accumulated financial reserve per square metre; it does not replace a technical building survey or a long-term management / renovation plan (Apartment Ownership and Apartment Associations Act, § 41).
5. Governance, reporting continuity and transparency 15% of the composite score
80 / 100
Analytical assessment:
5 consecutive annual reports filed (reports readable); Estiq does not score the board composition (see the current board in the Business Register).
Input figure Value in the report
Consecutive annual reports filed 5
Board members in the Commercial Register Data unavailable
Management report present No
Register card status OK
Source: Commercial Register (register card), Management report
Methodological limitation: Measures the formal correctness of register reporting, filing continuity and board composition. The number of reports filed does not show that they were filed on time (for example, several years filed retroactively). The number of board members and formal reporting do not replace actual management quality, the effectiveness of internal control or the substantive functioning of the general meeting.

Thinking of buying a flat in this association?

When you order the association pre-purchase check (€149), an Estiq property specialist reviews, in addition to the balance sheet, the general-meeting minutes of the last 3 years, known legal disputes, the exact list of debtors and planned loans.

Order the pre-purchase check (€149) →
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