Kambja vald, Soinaste küla, Kibuvitsa tn 13 korteriühistu

Reg. code 80560115 · Building: Kibuvitsa tn 13, Kambja (EHR 121263444) · 8 flats · 736.2 m²

Good and stable position · Moderate risk

57 / 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

0 / 100

Analytical assessment:
Cash (€7,467) is lower than the accounting repair-fund balance (€8,153); the difference is €686. This is an accounting approximation, not a bank balance: repair-fund money may also sit in other current assets (e.g. a deposit), so it does not show a lack of free cash. Total short-term payables and advances received are €385, of which supplier debt €242. The ratio of current assets to short-term liabilities is 36.51 (a ratio, not a euro amount).

Input figure	Value in the report
Cash at year end (balance sheet)	€7,467
Total current assets (balance sheet)	€8,836
Other current assets besides cash and receivables (e.g. deposit)	€0
Accounting repair-fund balance (balance sheet)	€8,153
Total short-term payables and advances received	€385
of which supplier debt	€242
Cash minus repair-fund balance (proxy)	€-686
Current ratio (current assets ÷ short-term liabilities)	36.51
Operating-cost coverage in months	-5.2 months
Total-cost coverage in months	-5.2 months
Annual operating costs excluding repairs	€1,597
Total annual costs	€1,597

Source: 2025 annual report, balance sheet; Note 3 „Võlad ja ettemaksed“, p. 6; Note 4 „Sihtotstarbelised tasud, annetused ja toetused“, p. 6

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

78 / 100

Analytical assessment:
There are no bank loans (principal balance €0), which removes interest-rate and refinancing risk. Short-term supplier payables exceed the estimated liquidity buffer (cash after the accounting repair-fund liability) or the current ratio is below 1.0, so the loan-free base score has been reduced. The loan-free branch of the model gives 78 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	€385
Total short-term liabilities	€242

Source: 2025 annual report, balance sheet; Note 3 „Võlad ja ettemaksed“, p. 6

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

55 / 100

Analytical assessment:
Receivables level and trend: balance-sheet receivables from owners were €1,369 at year end (notes to the report), about 26.2% of annual billing to the flats (roughly 3.1 months of normal billing). Receivables rose by 42.9% over the year.

Input figure	Value in the report
Receivables from owners at year end	€1,369
Receivables at the previous year end	€958
Annual change in receivables (%)	42.9 %
Annual billing to the flats	€5,225
Receivables as a share of annual billing	26.2 %
Receivables expressed in months of billing	3.1 months

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

80 / 100

Analytical assessment:
The accounting repair-fund balance is €11.1/m² (in total €8,153, roughly €1,019 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	€8,153
Heated floor area of the building (EHR)	736.2 m²
Repair fund per m²	€11.1/m²
Repair fund per flat	€1,019

Source: 2025 annual report, balance sheet; Note 4 „Sihtotstarbelised tasud, annetused ja toetused“, p. 6; 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

85 / 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); the report includes a management report.

Input figure	Value in the report
Consecutive annual reports filed	5
Board members in the Commercial Register	Data unavailable
Management report present	Yes
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.

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