Apt Development AS
Score · fiscal year 2025
Not enough data: Revenue not reported
Based on the annual accounts for 2025
The numbers behind the score
| Measure | Company | Median |
|---|---|---|
| Operating margin | – | 42.0% |
| Profit margin | – | 19.7% |
| Return on assets | 0.4% | 7.9% |
| Equity ratio | −141.2% | 27.2% |
| Debt-to-equity | – | 2.24 |
| Current ratio | 0.89 | 1.35 |
| Revenue growth | – | 3.4% |
The median and “ahead of” refer to companies in the same sector in 2025. The bar shows the share of companies the figure is ahead of.
Score over time
Score over time needs at least two fiscal years with a score. It will appear when next year's figures are fetched or history is imported.
The industry or the company: what drove the result?
The company and its sector's drivers
Prices, rate and currency that shape the sector's year, year by year beside the operating margin of Apt Development AS. The figures stand side by side; we claim no cause.
House prices (existing homes) (indeks (2015 = 100))
| Measure | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|
| House prices (existing homes), annual average | 134.5 | 141.6 | 140.8 | 144.6 | 152.5 | 158.7 (so far) |
| Change from the year before | +10.5% | +5.2% | −0.5% | +2.7% | +5.5% | +4.1% |
| The company's operating margin | – | – | – | – | – | – |
Source: SSB (07221, CC BY 4.0). Source
Policy rate (prosent)
| Measure | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|
| Policy rate, annual average | 0.08 | 1.32 | 3.54 | 4.50 | 4.30 | 4.17 (so far) |
| Change from the year before | −0.28 percentage points | +1.24 percentage points | +2.22 percentage points | +0.96 percentage points | −0.20 percentage points | −0.12 percentage points |
| The company's operating margin | – | – | – | – | – | – |
Source: Norges Bank (IR, NLOD 2.0). Source
Construction cost index for dwellings (indeks (2015 = 100))
| Measure | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|
| Construction cost index for dwellings, annual average | 124.2 | 135.1 | 141.1 | 146.4 | 152.7 | 158.4 (so far) |
| Change from the year before | +8.7% | +8.8% | +4.4% | +3.7% | +4.3% | +3.7% |
| The company's operating margin | – | – | – | – | – | – |
Source: SSB (08651, CC BY 4.0). Source
Consumer price index (indeks (2025 = 100))
| Measure | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|
| Consumer price index, annual average | 84.3 | 89.2 | 94.1 | 97.0 | 100.0 | 102.9 (so far) |
| Change from the year before | +3.5% | +5.8% | +5.5% | +3.2% | +3.0% | +2.9% |
| The company's operating margin | – | – | – | – | – | – |
Source: SSB (14710, CC BY 4.0). Source
Wage index: real estate (indeks)
| Measure | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|
| Wage index: real estate, annual average | 91.7 | 94.3 | 96.8 | 103.2 | 108.5 | 111.3 (so far) |
| Change from the year before | +5.2% | +2.9% | +2.6% | +6.5% | +5.2% | +2.6% |
| The company's operating margin | – | – | – | – | – | – |
Source: SSB (12314, CC BY 4.0). Source
We show the drivers and the margin side by side and claim no cause. Sensitivity per company is not computed until we have at least 10 years of accounts per company: with three years such figures are false precision.
What the numbers say
Apt Development AS had an equity ratio of −141.2% in 2025. The company is not ranked: revenue not reported.
From 2024 to 2025: the equity ratio rose from −28,324.9% to −141.2%.
This text is generated automatically from the 2025 accounts.
Three simple methods
| Method | Multiple | Estimate |
|---|---|---|
| P/E | 10.6 | not meaningful |
| EV/EBIT | 22.6 | not meaningful |
| P/B | 0.9 | not meaningful |
A mechanical estimate from public accounts, not advice. A mechanical estimate from public accounts with listed multiples and fixed adjustments. Not a valuation and not advice to buy or sell. See the calculation
Worth a closer look
- critical
Equity is negative. How will it be rebuilt, and what do lenders and the auditor say about going concern?
Based on: Equity ratio −141.2% (median 27.2%).
- watch
Consider strengthening liquidity: current liabilities are 1.1 times current assets.
Based on: Current ratio 0.89 (median 1.35).
- watch
The company made a loss before tax. Are these one-off items or a pattern?
Based on: Profit margin – (median 19.7%).
Indications based on the latest annual accounts from open data. Not investment or financial advice.
Financial costs were 0.3% of the debt in 2025. The policy rate averaged 4.30 % the same year. This is a plain description of what the debt cost, not a model of interest sensitivity.
See interest rates, prices and exchange rates for the sector
Data quality
- watch Revenue not reported
- watch No revenue but large assets
- critical Negative equity
Scenario analysis: the sector's weakest year
We have no accounts for 2022, the sector's weakest year, for this company.
The sector's weakest year was 2022, with a median operating margin of 21.9%. Based on the 9 fiscal years we have. The analysis grows as more years are fetched or imported. Methodology
Questions and answers
How profitable is Apt Development AS?
The operating margin was – in 2025, against a median of 42.0% among companies in the same sector. Return on assets was 0.4%. The company made a loss before tax.
How solid is Apt Development AS?
The equity ratio was −141.2% in 2025 (median 27.2%). Equity is negative, so liabilities exceed assets.
What is the liquidity of Apt Development AS like?
The current ratio was 0.89 in 2025 (median 1.35). Current assets did not cover current liabilities.
Group structure · 2025
142 companies in the group according to the shareholder register for 2025. A company counts as a subsidiary when a Norwegian company owns more than half of its shares.
Private persons own 72% of the shares in Peak XV AS. Persons are not shown by name.
Peak XV AS has not filed group accounts in open data, so the group has no index of its own. Each company has its own accounts.
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Peak XV AS
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Daimyo AS
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Daimyo Eiendom AS
-
Apt Development AS you are here
- Kalfarveien 31 AS
- Daimyo Eiendomsdrift AS
- Bispengsgaten 19 AS
- Fbv 38-40 AS
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Org. no. 927859920
- Org. no. 827969222
- Trondheimsveien 43 i AS
- Org. no. 936758436
- Bento Holding AS
- Daimyo Ekstra 102 AS
- Daimyo Ekstra 115 AS
- and 53 more companies
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- Daimyo Management AS
- Teglverksgata 2 Invest AS
- Varmelagring AS
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The tree shows up to 4 levels below the top. Large groups have more companies than shown.
Read the figures with care: a company in a group can look strong because of group contributions, or weak because dividends go up to the parent. The figures are indications, not the full picture.
Source: the Norwegian Tax Administration's shareholder register 2025 (majority owner with more than 50 % of the shares). Voting agreements and ownership through other countries are not included.
From the Central Coordinating Register
- Org. no.
- 812484052
- Legal form
- AS
- Sector
- Eiendom (68.120)
- Employees
- 0–4 (not registered)
- Founded
- 11 September 2013 13 years in operation
- Share capital
- 0.10 MNOK
- Business address
- Uranienborg terrasse 9, 0351 OSLO
- Municipality
- Oslo rank 63–220 of 357 in Norway
- Latest accounts filed
- 2025
Source: Central Coordinating Register, Brønnøysund Register Centre. The employee count is reported by the company and may be older than the accounts. See the company at the Brønnøysund Register Centre
Ownership and roles
Loading roles …
Source: Central Coordinating Register, fetched 1 November 2026. Only names are shown.
Shareholders (2025)
- Number of shareholders
- 2 (one owner holds more than half)
- Largest owner
- 87.5%
- Split
- companies 100% · private persons 0% · foreign 0%
- Owned from the same municipality
- 100%
- Group chain
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Owned by: Daimyo Eiendom AS (88%)
Ultimate owner: private person
- Daimyo Eiendom AS · 87.5%
- G. Christensen Eiendom AS · 12.5%
The company is new in the shareholder register in 2025.
Majority owner of: Hagegata 25 AS (100%), Gg3 Bolig AS (60%)
The portfolio: 3 of the companies it owns shares in have accounts with us, 2 of them as majority owner. The average index is 37. 2 have negative equity and 2 made a loss in the latest year.
Holds shares in: Gg3 Bolig AS (60%), Bravo Group AS (43%), Apt Vg58 AS (50%), Kirkegårdsgata 1 Eiendom AS (50%), Hagegata 25 AS (100%)
Source: the Norwegian Tax Administration's shareholder register as of 2025. Figures may be older than today's ownership. Private persons are not shown by name.
Error in the data?
Do you see an error in the figures or in how the company is mapped (sector, holding, group)? Let us know. Corrections require documentation.
Figures last fetched 29 October 2026.
Year by year · 2023–2025
| Key figure | 2023 | 2024 | 2025 | Trend |
|---|---|---|---|---|
| Index | – | – | – | |
| Rank | – | – | – | |
| Operating margin | – | – | – | |
| Return on assets | 18.6% | −958.3% | 0.4% | |
| Equity ratio | −300.9% | −28,324.9% | −141.2% | |
| Current ratio | 2.01 | 0.03 | 0.89 | |
| Revenue growth | – | – | – |
Accounts
From the Brønnøysund Register Centre, in the company's reporting currency (NOK).
| Key figure | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating revenue | – | – | – |
| Operating profit | −0.5 MNOK | −1.4 MNOK | 0.1 MNOK |
| Profit before tax | 0.3 MNOK | −1.6 MNOK | −0.1 MNOK |
| Tax expense | 0.0 MNOK | 0.0 MNOK | 0.0 MNOK |
| Net profit | 0.3 MNOK | −1.6 MNOK | −0.1 MNOK |
| Financial expenses | 2.7 MNOK | 0.2 MNOK | 0.2 MNOK |
| Total assets | 16.0 MNOK | 0.1 MNOK | 30.1 MNOK |
| Current assets | 4.2 MNOK | 0.1 MNOK | 15.0 MNOK |
| Equity | −48.2 MNOK | −42.3 MNOK | −42.4 MNOK |
| Retained earnings | −48.3 MNOK | −42.4 MNOK | −42.5 MNOK |
| Total liabilities | 64.3 MNOK | 42.5 MNOK | 72.5 MNOK |
| Current liabilities | 2.1 MNOK | 3.3 MNOK | 16.9 MNOK |
Source: Brønnøysund Register Centre (Register of Company Accounts), fetched 29 October 2026, accounts id 7237632.