Vandre AS
Score · fiscal year 2025
38of 100
How to read this: the company is ahead of 31 % of companies in the Morning class Micro in the same sector in 2025. What does this mean?
Rank in the Morning class Micro: 1,015 of 1,479 · What are Morning company classes?
Place in the whole sector: 2,154 of 3,042 · Forretningsmessig tjenesteyting
Profile
Beaver · Builder
Lower profitability, lower solidity
Position against comparable companies in 2025, not a verdict on the company. Based on profitability 7 and solidity 41 out of 100 among companies in the Morning class Micro in the same sector in 2025. Methodology
Against the sector
Vandre AS is 11 points below the median for companies in the Morning class Micro in the same sector in 2025.
Median score 49 among 1,476 companies.
Against companies in the Morning class Micro in the same sector in 2025: operating margin −67.6% (median 3.5%) and equity ratio 25.5% (median 26.9%).
The numbers behind the score
| Measure | Company | Median |
|---|---|---|
| Operating revenue | 1 MNOK | 4 MNOK |
| Operating margin | −67.6% | 3.5% |
| Profit margin | −70.0% | 2.9% |
| Return on assets | −22.4% | 8.3% |
| Equity ratio | 25.5% | 26.9% |
| Debt-to-equity | 2.92 | 1.69 |
| Current ratio | 4.15 | 1.27 |
| Revenue growth | 25.6% | 7.8% |
The median and “ahead of” refer to companies in the Morning class Micro in the same sector in 2025. The bar shows the share of companies the figure is ahead of.
With an index of 38, Vandre AS does better than 31% of companies in the Morning class Micro in the same sector (1,479 companies) in 2025.
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.
Vandre AS has a score of 38 for 2025, rank 2,154 of 3,042 in the sector.
Strongest: Liquidity: percentile 91 against peers, current ratio 4.15 against a median of 1.27. Growth: percentile 71 against peers, revenue growth 25.6% against a median of 7.8%.
Weakest: Profitability: percentile 7 against peers, operating margin −67.6% against a median of 3.5%. Consistency: percentile 11 against peers.
Worth a closer look
- The company made a loss before tax. Are these one-off items or a pattern? Based on: profit margin −70.0% (median 2.9%).
- The operating margin is lower than at three in four companies in the sector. Where do costs differ from competitors? Based on: operating margin −67.6% (median 3.5%).
- What lies behind weak profitability, and will it last?
- What lies behind weak consistency, and will it last?
Written by fixed rules from the figures. Describes the figures, does not explain causes. Not investment or financial advice. How the summary is made
The industry or the company: what drove the result?
In 2025 the operating margin of Vandre AS rose by 149.8 percentage points. Comparable companies fell by a median 0.1 points. So the company did 149.9 points better than the industry, for reasons of its own.
Over 2 year-to-year changes Vandre AS moved the same way as comparable companies 0 times. About 0% of the changes in operating margin were common to the industry; the rest was the company's own.
| Year | The company | Comparable (median) | Change, company | Change, industry | The company's own |
|---|---|---|---|---|---|
| 2024 | −217.4% | 3.6% | +964.1 percentage points | +0.2 percentage points | +963.9 percentage points |
| 2025 | −67.6% | 3.5% | +149.8 percentage points | −0.1 percentage points | +149.9 percentage points |
Comparable companies are those in the same industry and Morning company class. Their change shows what hit the whole industry, the sector drivers below included. The rest is the company's own: contracts, costs, one-off items or operations. The share is approximate, and we claim no cause.
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 Vandre AS. The figures stand side by side; we claim no cause.
Service prices: business support services (indeks (2021 = 100))
Service prices: business support services rose 3.8% in 2025; the operating margin of Vandre AS rose 149.8 percentage points.
| Measure | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|
| Service prices: business support services, annual average | 100.0 | 104.9 | 111.1 | 116.9 | 121.3 | 122.3 (so far) |
| Change from the year before | – | +4.9% | +5.9% | +5.2% | +3.8% | +0.8% |
| The company's operating margin | – | – | −1,181.5% | −217.4% | −67.6% | – |
Source: SSB (14335, CC BY 4.0). Source
Turnover index: administrative and support services (indeks (2021 = 100))
Turnover index: administrative and support services rose 5.8% in 2025; the operating margin of Vandre AS rose 149.8 percentage points.
| Measure | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|
| Turnover index: administrative and support services, annual average | 99.5 | 117.4 | 126.0 | 130.8 | 138.4 | 141.3 (so far) |
| Change from the year before | +5.3% | +17.9% | +7.4% | +3.8% | +5.8% | +2.1% |
| The company's operating margin | – | – | −1,181.5% | −217.4% | −67.6% | – |
Source: SSB (13863, CC BY 4.0). Source
Consumer price index (indeks (2025 = 100))
Consumer price index rose 3.0% in 2025; the operating margin of Vandre AS rose 149.8 percentage points.
| 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 | – | – | −1,181.5% | −217.4% | −67.6% | – |
Source: SSB (14710, CC BY 4.0). Source
Policy rate (prosent)
Policy rate fell 0.20 percentage points in 2025; the operating margin of Vandre AS rose 149.8 percentage points.
| 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 | – | – | −1,181.5% | −217.4% | −67.6% | – |
Source: Norges Bank (IR, NLOD 2.0). Source
Wage index: business support services (indeks)
Wage index: business support services rose 5.7% in 2025; the operating margin of Vandre AS rose 149.8 percentage points.
| Measure | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|
| Wage index: business support services, annual average | 81.5 | 85.5 | 89.7 | 94.8 | 100.3 | 106.3 (so far) |
| Change from the year before | +3.5% | +4.9% | +4.9% | +5.7% | +5.7% | +6.0% |
| The company's operating margin | – | – | −1,181.5% | −217.4% | −67.6% | – |
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
Vandre AS had an operating margin of −67.6% and an equity ratio of 25.5% in 2025, and ranks 2,154 of 3,042 in Forretningsmessig tjenesteyting.
From 2024 to 2025: the operating margin rose from −217.4% to −67.6% and the equity ratio rose from −12.0% to 25.5%.
This text is generated automatically from the 2025 accounts.
Three simple methods
One method gives a figure: 1 MNOK.
| Method | Multiple | Estimate |
|---|---|---|
| P/E | 17.3 | not meaningful |
| EV/EBIT | 14.1 | not meaningful |
| P/B | 2.7 | 1 MNOK |
The listed basis is the value at listed multiples. The estimate is lowered by 51% for an unlisted company: 20% for lack of marketability and 38% for size (a small-company premium of 4% on the cost of equity).
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
- watch
The company made a loss before tax. Are these one-off items or a pattern?
Based on: Profit margin −70.0% (median 2.9%).
- watch
The operating margin is lower than at three in four companies in the sector. Where do costs differ from competitors?
Based on: Operating margin −67.6% (median 3.5%).
Indications based on the latest annual accounts from open data. Not investment or financial advice.
Financial costs were 1.1% 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
No anomalies found in the figures.
Scenario analysis: the sector's weakest year
We have no accounts for 2026, the sector's weakest year, for this company.
The sector's weakest year was 2026, with a median operating margin of 0.3%. Based on the 9 fiscal years we have. The analysis grows as more years are fetched or imported. Methodology
What the score is made of
| Profitability | 7 | weight 30% |
|---|---|---|
| Solidity | 41 | weight 25% |
| Liquidity | 91 | weight 15% |
| Growth | 71 | weight 15% |
| Consistency | 11 | weight 15% |
Index version 2. Data completeness 100%: the share of the weights that had data.
Questions and answers
How profitable is Vandre AS?
The operating margin was −67.6% in 2025, against a median of 3.5% among companies in the Morning class Micro in the same sector. Return on assets was −22.4%. The company made a loss before tax.
How solid is Vandre AS?
The equity ratio was 25.5% in 2025 (median 26.9%). Debt-to-equity was 2.92 (median 1.69).
What is the liquidity of Vandre AS like?
The current ratio was 4.15 in 2025 (median 1.27).
How does Vandre AS compare in Forretningsmessig tjenesteyting?
Vandre AS ranks 2,154 of 3,042 in Forretningsmessig tjenesteyting for 2025. Among companies in the Morning class Micro it is number 1,015 of 1,479. Revenue changed by 25.6% from the year before.
From the Central Coordinating Register
- Org. no.
- 824735972
- Legal form
- AS
- Sector
- Forretningsmessig tjenesteyting (77.210)
- Morning company class
- Micro
- Employees
- 0–4 (not registered)
- Founded
- 17 February 2020 6 years in operation
- Share capital
- 0.12 MNOK
- Business address
- Sundvollhovet 60, 3535 KRØDEREN (KRØDSHERAD)
- Municipality
- Krødsherad rank 3–17 of 39 in KOSTRA group 4
- 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
- 45
- Largest owner
- 13.6% · top three 34.7%
- Split
- companies 94% · private persons 6% · foreign 0%
- Owners over 60
- 0% of the shares held by persons (median age 34)
- Våren AS · 13.6%
- Kjernaas Invest AS · 11.1%
- Vandre Aksjonærselskap AS · 10.0%
- Henri Holding AS · 9.0%
- Tenvik Kapital AS · 6.2%
- Guajiro Holding AS · 5.2%
- Langlo Holding AS · 4.9%
- Knut Green Holding AS · 4.8%
- Akk Investment AS · 4.4%
- Thefactory Norway Fund i AS · 4.2%
- 20 private persons · 6.0%
The company is new in the shareholder register in 2025.
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 30 October 2026.
Year by year · 2023–2025
| Key figure | 2023 | 2024 | 2025 | Trend |
|---|---|---|---|---|
| Index | – | – | 38 | |
| Rank | – | – | 2,154 | |
| Operating margin | −1,181.5% | −217.4% | −67.6% | |
| Return on assets | −99.0% | −91.6% | −22.4% | |
| Equity ratio | 31.3% | −12.0% | 25.5% | |
| Current ratio | 4.01 | 3.66 | 4.15 | |
| Revenue growth | – | 147.9% | 25.6% |
Accounts
From the Brønnøysund Register Centre, in the company's reporting currency (NOK).
| Key figure | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating revenue | 0.3 MNOK | 0.9 MNOK | 1.1 MNOK |
| Operating profit | −4.1 MNOK | −1.9 MNOK | −0.7 MNOK |
| Profit before tax | −4.1 MNOK | −1.9 MNOK | −0.8 MNOK |
| Tax expense | 0.0 MNOK | 0.0 MNOK | 0.0 MNOK |
| Net profit | −4.1 MNOK | −1.9 MNOK | −0.8 MNOK |
| Financial expenses | 0.0 MNOK | – | 0.0 MNOK |
| Total assets | 4.2 MNOK | 2.0 MNOK | 3.3 MNOK |
| Current assets | 3.4 MNOK | 1.0 MNOK | 1.8 MNOK |
| Equity | 1.3 MNOK | −0.2 MNOK | 0.8 MNOK |
| Retained earnings | −9.4 MNOK | −11.2 MNOK | −12.0 MNOK |
| Total liabilities | 2.9 MNOK | 2.3 MNOK | 2.4 MNOK |
| Current liabilities | 0.9 MNOK | 0.3 MNOK | 0.4 MNOK |
Source: Brønnøysund Register Centre (Register of Company Accounts), fetched 30 October 2026, accounts id 7032046.
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