In the northern Baltic, post-spring-bloom low dissolved inorganic nitrogen to phosphorus conditions, degradation of N-rich organic matter potentially supports the drawdown of excess phosphate. During a 17-day-long mesocosm experiment in the south-west Finnish archipelago, we examined nitrogen, phosphorus and carbon acquiring extracellular enzyme activities in three size fractions (<0.2 um, 0.2-3 um, and >3 um), bacterial abundance, production, community composition and its predicted metabolic functions. The mesocosms received different carbon and nitrogen amendments to test for the effect of inorganic nutrient stoichiometry on enzymatic degradation processes that ultimately determine the export potential of organic matter. Alkaline phosphatase activity occurred mainly in the dissolved form and likely contributed to the excess phosphate conditions. In the beginning of the experiment, peptidolytic and glycolytic enzymes were predicted to be produced by free-living bacteria identified within the classes Actinobacteria and Alphaproteobacteria, whereas the contribution of picocyanobacteria increased towards the end. Our results imply that heterotrophic bacteria lost the competition to picocyanobacteria due to the lack of suitable energy sources. The high hydrolytic rates in fractions <0.2 um and 0.2-3 um, found in this study, could potentially retain inorganic nutrients in the surface layer and suppress downward fluxes of organic matter and hence carbon sequestration.